Huobi token (HT) is the native cryptocurrency of Huobi global cryptocurrency exchange. It is a ERC-20 - based decentralized digital asset based on the blockchain. The value of HT depends partially on the reputation of Huobi cryptocurrency exchange, but other factors will also have an impact.
Huobi Token is the native Huobi global cryptocurrency exchange. It is a decentralized electronic asset based on the Ethereum ERC-20 specification. Generally speaking, the value of Huobi tokens depends on the reputation of its parent platform Huobi exchange to a certain extent; However, other factors will also affect the change of its value.
Huobi tokens have many use cases. One of its functions is that the application purchases VIP identity on the network to enjoy a huge discount on transaction costs. This function allows the holders of Huobi tokens to reduce the cost of executing transactions on the platform. Some are usually taken out of the user's wallet. It also helps to provide priority notification to attendees when receiving crypto rewards on buybacks, voting on platform changes, and receiving special invitations to your event.
How does Huobi Token (HT) Work?
Huobi token is generally a transaction token used on Huobi trading platform. Tokens are mainly used to facilitate transactions between parties involved in the network. However, holding HT has certain advantages. These include price reduction transactions and services for token holders only.
In addition to all the services provided by the network, tokens are also valuable. Therefore, for interested participants who want to enjoy the services provided by the token system, it can negotiate with other cryptocurrency pairs.
Users of the Huobi network generally enjoy two main functions of the system. First, the platform uses Huobi tokens to carry out the loyalty process, and rewards the former members of the platform through a series of discounts. The platform also distributes voting rights to its participants through the Huobi autonomous digital asset exchange.
By performing these functions specified by the system, Huobi network has the obligation to maintain its tokens at a reasonable value level. In order to achieve this and avoid inflation, the Huobi system allocates 20% of the profits to a symbolic repurchase program.
With the general increase of cryptocurrency circulation, network users can enjoy some other exclusive services. For beginners, in addition to enjoying preferential prices, the system also has an exchange platform to facilitate participants to exchange currencies. The platform also allows its participants to participate in the decision-making process regarding the operation of the platform and its future.
What is Huobi Token (HT)?
The Huobi Token was released in early 2018 and did not follow the usual initial coin supply system. First, the Huobi platform has directly allocated Huobi tokens to its VIP participants. The network also provides a series of services for merchants, who can use a certain number of tokens to pay. Different from the conventional operation of ICO, the method used by Huobi network is called initial exchange offer (IEO).
Overall, the supply of Huobi tokens is estimated to be 50 billion. Soon after the launch, the users of the center allocated 60% of the supply. About 30 billion Huobi tokens. The remaining 40% is reserved by the company for network security.
The Huobi ecosystem decided to create native tokens, which led to an increase in platform capital. It also helps to maintain the loyalty of existing members in the network and attract new members through exclusive offers.
Huobi Token (HT) Crypto Wallet
In addition to placing HT in the Gate.io exchange to facilitate trading, HT can also be placed in a crypto wallet.
Huobi wallet is a professional multi currency wallet, which was officially launched on September 14, 2018. It supports the storage, transfer and exchange of BTC, ETH, USDT, LTC and other mainstream currencies and all ERC-20 currencies.
Three highlights of Huobi Wallet:
Rich currencies and easy exchange: support cross-chain exchange, so that the value can be transferred better and faster.
Professional and convenient, safe and secure: with security isolation, data encryption and other security patents. You can manage the private key independently, and the asset is fully mastered by yourselves.
Simple and smooth, perfect design: allows you to easily manage multiple groups of addresses, and one key exchange is simple and practical.
There are two schools of thought in determining the price of Huobi.
By way of intrinsic value: This typically involves on-chain metrics, project metrics and financial metrics of Huobi, collectively known as fundamental analysis. The law of supply and demand, tokenomics, use case, project roadmap as well as regulations and governance involved would affect the value of Huobi from a long term perspective.
By way of price action: Primarily analyzed via candlestick chart patterns and technical indicators such as MACD, RSI and the bollinger bands, technical analysis forecasts the price of Huobi on the basis that history tends to repeat itself. As the candlestick charts are a general representation of the emotion of the market, news announcements and community sentiment can be significant price action drivers for Huobi as well.
HODLers tend to prefer the long term nature of fundamental analysis, whereas short term traders tend to rely on technical analysis more. In reality, both analyses may combine and create interesting scenarios for Huobi and the cryptocurrency market as a whole.
2. What is the highest price of Huobi in history?
Huobi achieved the all-time high of $39.66 in 2021-05-12, and is currently trading at $6.85.
3. What is the lowest price of Huobi in history?
In 2019-01-30, Huobi reached the all-time low of $0.91.
4. Should I buy Huobi now?
It is important to remember that Huobi, like all other cryptocurrencies, are subject to extreme market conditions, legal policies, project team management and other unpredictable factors. As such, cryptocurrencies fluctuate greatly and it is important to manage your own risk level. Users are advised to do your own research when making investment decisions in the crypto market.