Upbit Updates HBAR Distribution Plan: Circulating Supply Reduced
CryptoNewsTerminal Staff05 Jun, 2024
Upbit Updates HBAR Distribution Plan: Circulating Supply Reduced
Upbit, one of South Korea's largest cryptocurrency exchanges, has recently updated its distribution schedule for Hedera (HBAR). According to an official announcement, the revised HBAR distribution plan on Upbit has been in effect since the second quarter of this year. As a result of this update, the circulating supply of HBAR has been reduced from the previous 37,328,110,734 HBAR to 37,314,659,306 HBAR as of April 30, 2024. This move comes following a request from Hedera, the project behind HBAR. The change in the distribution plan is expected to impact the overall supply and demand dynamics of HBAR on Upbit. It is worth noting that Upbit has a significant user base in South Korea, and the exchange's decision could have implications for the wider cryptocurrency market. Further developments in this situation will be closely monitored.
