Huma (HUMA) Briefly Touches 0.0073 USDT Amid Volatility

Huma (HUMA) briefly touched 0.0073 Tether (USDT) on Nov. 12 as co-founder Richard Liu shared details of a token sale and increased activity in perpetual markets.

Liu said an early liquidity provider’s wallet was hacked Oct. 22 and about 12 million airdropped HUMA tokens were sold. He included the sale in his discussion of recent volatility.

Between Nov. 2 and 7, open interest rose from about 620 million HUMA to 1.1 billion, Liu said. He also said funding rates turned negative starting Nov. 4 and perpetual trading volume reached seven to 10 times spot volume.

Liu said market activity appeared concentrated in perpetual markets.