Huma (HUMA) briefly traded at 0.0073 Tether (USDT) on Nov. 12. Co-founder Richard Liu discussed a prior token sale tied to a compromised liquidity-provider wallet and increased activity in perpetual markets.
Liu said a wallet belonging to an early liquidity provider was hacked Oct. 22. Roughly 12 million HUMA received through an airdrop were later sold, he said, and he included the sales in his discussion of market volatility.
The open-interest readings Liu cited predated the Nov. 12 price move: He put the figure at about 620 million HUMA on Nov. 2 and 1.1 billion by Nov. 7.
Liu also said perpetual trading volume was seven to 10 times spot volume and funding rates turned negative beginning Nov. 4. He characterized perpetual trading as the main focus of activity.
