Huobi HTX has introduced the YZY/USDT perpetual contract with up to 20x leverage. This event, available from August 21 to August 28, 2025, features a $10,000 prize pool for participants, focusing mainly on the YZY token.
Huobi HTX has launched the YZY/USDT perpetual contract, providing up to 20x leverage. The launch coincides with a trading party event from August 21 to August 28, 2025, with a $10,000 prize pool.
The event signifies an initiative by Huobi HTX to engage traders while highlighting YZY's market activity and liquidity concerns.
Huobi HTX's recent launch of the YZY/USDT perpetual contract adds another trading instrument to its offerings. The contract, featuring up to 20x leverage, comes amidst a backdrop of volatile meme coin activity. Known for its trading events, Huobi sets a $10,000 prize pool for this opportunity. The initiative involves the cryptocurrency YZY, known for its meme coin status and centralization concerns.
Approximately 94% of YZY tokens are believed to be held by insiders, with 87% in a single multisig wallet prior to broader distribution, raising substantial price manipulation risk in early trading.
Huobi's advisory board, including Justin Sun, remains silent on this launch. The launch fuels trading activity but raises questions due to the centralization of YZY holdings. A striking 94% was initially held by insiders, creating potential market manipulation risks. Huobi's approach reveals an emphasis on perpetual contracts to boost short-term trading volumes. However, centralized ownership of YZY signals manipulation concerns. Historical events suggest short-lived spikes in trading volumes, often followed by normalization. Market observers remain wary of insider influences on these fluctuations.
Expectations for Huobi's YZY/USDT inclusion may extend beyond immediate trading impacts. Long-term effects could influence Meme coin market dynamics, drawing parallels with Huobi's prior similar events.
The involvement of concentrated assets, especially with significant insider holdings, prompts scrutiny regarding fair trading practices. Regulatory developments in such scenarios are closely monitored, as they may exhibit broader market control tendencies.
By CoinLineup
about 5 hours ago
