If you have been using cryptocurrencies you must have come across the Huobi exchange at some point. The exchange has already issued its own native token. This is Ethereum ERC20 based platform. This is the Huobi Token (HT). In comparison to other alternative coins, Huobi Token did not raise its project funds through an Initial Coin Offering (ICO).
The Huobi Token issuance started in January with a total supply of 500million and 60% (300milion) of the total was issued to users while the other 40% (200million) going to team incentives, operational costs and rewards to the users.
Cryptocurrency expert argue that the introduction of HT came at the right moment. This coincided with a time when the Chinese government was banning exchanges. This has affected the exchange business for Huobi thus the launch of Huobi Token to capitalize on the cross-border market boom.
The news marks the latest move by Huobi to get back on track since the business was severely affected by China’s clampdown on domestic exchanges, according to Leon Li, founder of Huobi Group. It has since shifted to an over-the-counter (OTC) trading model and targeted overseas markets.
Huobi Token (HT) 24 Hour Price Analysis
This is a non-ICO token that has been gaining a lot of attention for the digital money market. Since its launch, the Huobi pro has had a positive impact in the market and the price has marginally increased despite the current market fluctuations.
The excitement on the coin saw it hit a high of $2.72 on the 16th February before hitting a low of $1.26 a month later. Since the coin has registered a steady growth with the current price of $1.69 with a 1.44% drop against the dollar. However the coin has been appreciating among major digital currency. Over the past 24 hours the coin has gained 2.81against the dollar.
Why Invest in Houbi Token (HT)?
With the price notwithstanding, the platform users enjoy unique liquidity. Since venturing into the cross-border token markets, the digital asset has gained trust among users. With the help from Huobi exchange, liquidity has not been an issue with the token. In the vent a user need to dispose of their shares or tokens, the system can facilitate a fast compensation.
The current Huobi Token (HT) bi stability is based on the good discounts investors get. Big spenders are earning rewards to keep the coin in circulation. The more the high volume users transact the more discounts they get. This is one of the ways the coin is enticing more users and increased value to the token.
There are many investor streams to benefit from on the platform; random voting rights are vested on select users who get rewarded making the platform competitive and the community more vibrant. Many users are holding to their tokens with the hope of earning extra tokens. This increases the token circulation and value goes up.
Any excess Huobi tokens in the market are not burned; instead, they a bought back into the system. These are secured in a protected fund that replenished the system during those volatile times. This is a new feature in the market which should entice every investor to participate in the network.
Huobi token (HT) Future
With growing cryptocurrency awareness, users are beginning to understand individual tokens and their benefits. With HT, you have a straight forward investment proposition that you can earn rewards as you transact. However, the platforms catch is to transact more, add value to the network and get some HT in .return
With the current steady growth despite the market uncertainty, the Huobi Token (HT) is set to reposition itself in the market and continue enjoying the popularity that has been driving the Huobi exchange. This is coin to watch and it is set to increase its value as long as the volumes keep changing hands.