What is huobi token?

what is huobi token

Huobi Token (HT) is one of the cryptocurrency assets issues by Huobi. Huobi is one of the third largest exchanges that has become a global cryptocurrency trading platform.

Not only is Binance creating crypto tokens, but Huobi also does the same thing. Currently, Huobi Token is ranked 19th Coinmarketcap. With a value of $ 4.16 USD.

Leon Li is the person behind Huobi’s founding, this is a digital asset exchange based in Singapore in 2013. Huobi global exchange has traded digital assets with a total of more than 280 digital assets that can be traded on Huobi.

While daily trading volume amounts to more than 350 million dollars in crypto tokens. The value of the Huobi Token itself depends not only on the volume of demand but also on the performance of the Huobi. Pro exchange and its affiliates.

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Huobi token review

Global Huobi is currently the third-largest exchanger after Binance and Coinbase. Pro creating its own token, which launches in July 2018.

The value of this HT token depends on the exchange performance and other factors. Such as coin supply and internal factors in the Huobi ecosystem.

If you look at the chart of changes in value, the Huobi Token so far seems successful, but will it make a good long-term investment? Binance Coin (BNB) which is a token from Binance has now reached a market capitalization of more than $ 3. billion USD.

In the Huobi exchanges ranking it is below Binance, but in the token ranking, the Huobi Token is 6th rank and is above the Binance coin.

If you look at the historical data changes in value, this HT seems to have a good future. This is of course because there is support from the Huobi Group who want the Huobi Token to be the foremost among other crypto tokens.

Huobi Tokens are built on the Ethereum platform. This token is the currency of the Huobi platform. Huobi Tokens are issued with a limited supply of 500 million.

Huobi Token Whitepaper

Introduction, HT stands for Huobi Token created by Huobi Global Ecology. HT is a digital asset that is similar to other digital assets. Huobi Tokens are decentralized digital assets that use the Ethereum network.

HT is launching with a total limited supply of 500 M. Huobi Group is a company that develops HT basis on token systems. That is issues and managed through a blockchain that can be uses in the Huobi ecosystem as well as various functions in the system.

The user HT can use for all types of applications in global business and the Huobi Group ecosystem. The benefits HT holders will enjoy the appropriate benefits of the entire Huobi ecosystem.

HT holders also get other benefits, namely ecological sub-token rewards, as well as valuable promotions brought about by repurchases and ongoing destruction.

The benefits of token holders are as follows

  • Allows for the purchasing of Huobi monthly VIP status.
  • Submitting Voting on trade.
  • Get early access to special Huobi events.
  • Receive crypto rewards from regular repurchases.
  • It is possible to exchange with various digital assets in the Huobi trading network.

As tokens from other exchanges such as BNB. Huobi Token also offers several benefits to its users. But there are unique advantages to HT, which are designed to drive liquidity, demand, and ultimately price value.

So that these benefits become superior on paper compared to other tokens. The token value has doubled in value since it was launched. Some of the advantages of HT are.

Discount on Transaction Fees

Users can use HT to purchase Huobi status on Huobi exchanges. Huobi VIP status is obtained by subscription, with users paying monthly.

Even a 50% discount on transaction fees is included in one of HT’s benefits. As long as you continue your monthly VIP subscription, you can maintain a 50% discount for years.

what is huobi token

Discounts are beneficial for retail traders. And also have huge implications for high-frequency traders where a 50% reduction in transaction costs makes a big difference when trading large amounts.

Liquidity Buybacks

Huobi uses a strategy whereby income from transaction costs to buy back Huobi Tokens. This can encourage liquidity in trading which allows the price of HT to increase and prevents hoarding of tokens.

Another purpose of the buyback is to fill the Huobi user protection Fund with HT. The protection fund is to prevent manipulation and fraud in trade and provide compensation for losses in the event of an emergency.

Early Access & Events

VIP users can get early access to assets or special events that will be enforced at Huobi. This is still somewhat vague about the benefits of access and events at the start, but the impact can provide the earliest information than other users.

It is indeed difficult to say the benefits that VIP customers have received to date because the events and initial access are private.

Can Be Traded Against Popular Cryptocurrencies

This is another benefit of Huobi Tokens that can be traded with a partner for Tether, Ethereum, and Bitcoin directly out of the box. Because Token Huobi is launched by this exchange, it can directly enter the listing on the Exchange.

Survey & Voting Rights

Another benefit of HT is voting rights on exchange decisions, including new assets to be listed on the exchange. This method is a democratic way to solve the priority case of asset listing.

You can analyze that the assets you want to be registered with Huobi will probably buy a lot of HT. Projects that spend the most money on HT purchases are likely to be listed in the pay-out scenario for potential players.

For investors, this condition might be able to drive high demand for tokens.

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Background of Huobi Tokens

The official announcement of the Huobi Group will launch a new token on HT is January 22, 2018. In the Huobi token road map, it will distribute 300 million HT to pro users who purchase a discount service package which is 60% of the total supply.

The distribution period is within 15 days. Every morning, a new HT batch will be available on every first request, will get the first service. The method of distribution is not by ICO stating because it is bidding.

The way is the user buys a particular service package and will get a discount on the trade costs which include HT.

Main Reason

The reason behind the launch of the Huobi Token is a strategy to restore its user base after China which severely limits digital currency trading.

Leon Li, the founder of Huobi, revealed in a Coindesk interview. That the restrictions on China’s digital money trade caused a fall in the volume of trade in Huobi by 95% between September 15 and November 1, 2017.

With the launch of the Huobi Token, it is hoped that it will gradually recover. Huobi Tokens are expected to provide opportunities to increase customer involvement, especially with their premium product offerings.

The launch of the Huobi Token is also closely related to Huobi’s announcement in a plan to launch index funds for the cryptocurrency market.

This initiative is a step to set a new direction for exchange and show users that Huobi is heading for a comeback.

Huobi’s global perception has become very important because U.S. investors cannot participate legally in exchange. But they can closely monitor how global Huobi is and how it affects the market.

HT Supply & Allocation

The time period for the distribution of HT tokens is January 24 – February 7, 2018. What surprised millions of tokens was sold out in just a few minutes after they started selling.

And some 300 million HT belonged to Huobi Pro members who bought the package. The amount is 60% of all public distribution.

The remaining 200 million HT or 40% of the total supply is then set aside. 20% for user rewards and platform operations. The remaining 20% ​​is held for four years and is a team prize.

what is huobi token

Huobi Token Price History

Since Huobi tokens were launched, HT prices ranged between $ 1.00 and $ 1.50. New history occurred on February 13, 2018, HT prices rose to $ 2.00. since then the price has stabilized and hasn’t fallen below $ 2 anymore.

The highest HT record price occurred on Jun 06, 2018, which was nearly $ 6.10, the lowest price of $0,889694 USD on Jan 30, 2019.

At the moment HT prices are at $ 4.12 and this tends to be a stable value in the history of price movements this week.

The current CoinMarketCap value is $ 897,487,632 USD, with a change in 24 Hour Volume of $ 83,434,520 USD and Circulating Supply 217,637,531 HT.

huobi token price history

How to Buy Huobi Tokens (HT)

Where to buy Huobi token? If Huobi exchanges have been accepted in your country, the easiest way to buy HT is in Huobi. They have many trading pairs available.

Another way is to find exchanges that offer Huobi tokens on their platforms. Cex.IO, Binance, or Bittrex, you can find Huobi tokens there.

But for US investors, getting HT will be difficult. You need to have an account on LBank and Gate.io, you can buy HT there.

How to Store a Huobi Token (HT)

You need a digital wallet to store your Huobi Token. Because HT is an ERC-20 coin. So, any wallet that supports Ethereum can be used to store Huobi tokens.

The recommended digital wallet is to use Ledger Nano S as a good hardware wallet solution for ERC-20 tokens. You can also use MyEtherWallet and Coinomi wallet.

Huobi pool token

Huobi Pool Tokens are an ecological sub-token based on Huobi Tokens (HT). Huobi Pool Token, abbreviated as HPT, is issued in a total of around 10 billion. The main target of this HT sub token is HT holders, users of the Huobi Pool community. But also for other targets.

HPT developed “mining is mining”. Huobi Pool is a subsidiary of the Huobi Group, which has launched this sub token. It is also an important part of the Huobi group ecosystem.

Huobi Pool Token or HPT is currently ranked 146 Coinmarketcap with a value of $ 0.005386 USD. With a current market capitalization of $ 26,895,777 USD. Maybe now it’s still quite difficult to compete with other big tokens, but for those who like HPT investments when prices are cheap, maybe this can be tried.

Visit the Huobi mining pool to get more insight.

Huobi token price prediction 2020

Currently, the HT price range is at $ 4 up and down a few pips this week. Under these conditions, the price range is still quite difficult to break through resistance. And the possibility of trading volume has not changed greatly. So the HT price prediction is still in the range of $ 3- $ 4 for the short term.

But if we do a search for price predictions for Huobi token, some sites have given their predictions. That the average prediction is the value of Huobi can reach the level of $ 6- $ 7 in 2020.

While the long-term predictions, the average prediction can reach levels above $ 10, some even predict up to $ 27. However, this is only a prediction, which may be able to encourage someone to take action to buy HT which can encourage price rises.

Final Thought

Issued by the Global Huobi exchanger which is the world’s leading cryptocurrency exchange, makes the Huobi Token a significant growth possibility. Although they still have to compete with other tokens, some observers feel confident about the possibility of increasing HT values.

For some investors, getting at a low price is a strategy to get a large profit in the future as the value of tokens increases.

Strategies Buy at low prices, and selling at high prices have proven many investors to be rich from their investments.

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