Huobi Token

$0.5979

-0.53%

Rank #766 | Category

exchange

staking

layer-1

altcoin

erc-20

Market Cap

$298,973,021

Fully Diluted Market Cap

$298,973,021

Volume

$533,553

Huobi Token Price Chart Update [HT]

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Huobi Token Price Update Today

The HT price update as of now is $0.5979. In the previous 24 hours, its trading volume was $533,553, and its value has decreased by -0.53%. As of now, HT's live market cap is $298,973,021, and it is ranked as the #766 on the Coincu. HT has a circulating supply of 500,000,000 and a maximum supply of 500,000,000.

About Huobi Token

Overview & History of Huobi Token

Huobi Token is a token that forms part of the ecosystem created by Huobi Global, a cryptocurrency exchange. It offers various benefits to its users, including discounts on trading fees and margins, as well as access to specific trading events. Huobi commits to using 20% of its exchange revenues each quarter to purchase HT tokens from the open market and subsequently burn them. Additionally, tokens used in FastTrack for voting on token listings and those used for ticket sales from Huobi Prime Initial Exchange Offerings (IEO) are also burned.

Huobi Token (HT) is the native token of Huobi Global, a cryptocurrency exchange. It operates on the Ethereum blockchain and adheres to the ERC-20 standard. The value of HT is influenced by Huobi's reputation as a crypto exchange and other factors.

If you want to gain a deeper understanding of Huobi Token, read our comprehensive project analysis.

Huobi Token was introduced in January 2018, following the launch of Binance's native token on a competing crypto exchange. The introduction of its own token allows Huobi to implement a flexible marketing strategy to attract new users and expand its platform.

HT serves the primary function of reducing trading fees on the exchange, which are typically deducted from users' wallets. However, HT offers more than just fee reductions. It can be used to purchase monthly VIP-status plans, which provide transaction fee discounts. Token holders also have voting rights on exchange decisions, receive crypto rewards through seasonal buybacks, and gain early access to special events. HT can be traded for other cryptocurrencies at any time.

Huobi Group was founded by Leon Li, who currently serves as the CEO. Li graduated from Tsinghua University with a degree in Automation and became an advocate for Bitcoin in 2011. He started his career as a computer engineer at Oracle, a leading database provider. In 2013, Li founded Huobi Group and transformed it into a prominent global player in the digital asset financial services sector.

Jun Du is a co-founder of Huobi and previously held the position of community operations director at Comsenz. He also worked at Tencent. Du is currently the CEO of Node Capital, a venture capital firm focused on the blockchain industry. He is the founder of Jinse, a blockchain service platform that integrates industry news, market information, and data. Du is also the co-CEO of BiKi.com, a software provider for digital currency trading. He has co-founded other companies, including AToken and Chainup.

In 2018, Herbert Rafael Sim, the founder of Crypto Chain University, joined the Huobi Group team. Sim has an impressive track record and has contributed to the development of Forbes, The Huffington Post, and Wardrobe Trends Fashion. At Huobi, Sim is responsible for digital marketing and serves as the director of public relations.

Huobi Token serves two primary functions. Firstly, it is used by the Huobi exchange for its loyalty program, which rewards members with various discounts. Additionally, HT tokens are used to confer voting rights to users of the Huobi Autonomous Digital Asset Exchange (HADAX).

To maintain the stability of HT's value, Huobi has implemented measures to curb inflation. The company allocates 20% of its profits to a token buyback program.

HT token holders enjoy several advantages due to the token's circulation, including:

Reduced transaction fees.

Huobi offers discounts to clients with VIP status, allowing investors and traders to save on commissions.

Convenient means of exchange.

The platform facilitates the easy and convenient exchange of Huobi Token and supports it as part of trading pairs with various popular cryptocurrencies.

Promotion of new tokens.

HT holders receive coins with each listing of new crypto assets and can also receive a wallet bonus.

Investor Protection Program.

Tokens bought back by the exchange are sent to an investor protection fund, which aims to compensate for any financial losses.

Participation in decision making.

HT token holders have the ability to vote and influence the development of the Huobi exchange and its broader ecosystem.

Huobi Token was launched in early 2018 through a distribution method known as an initial exchange offering (IEO). Initially, HT tokens were distributed directly to VIP users, while regular traders could purchase a package of services with a specific number of tokens. This distribution method differs from a traditional ICO.

The total supply of Huobi Token is limited to 500 million coins. After the launch, 60% (300 million coins) were allocated to exchange users, while the company reserved 40% (200 million coins).

The creation of its own token contributed to the increase in the exchange's capitalization. Furthermore, the token incentivizes users to remain loyal to the platform by offering exclusive advantages through its various functions.

The Huobi ecosystem utilizes a distributed architecture and an anti-DDoS protection system to enhance security. Additionally, 98% of the currency is stored in a multisig cold wallet. The exchange employs a risk control system called "Don't Be Evil" to ensure the safety of users' accounts and assets.

Since 2018, the platform has implemented a security reservation mechanism to protect assets.

Roadmap & Updates

Updating…

#	Exchange	Pair	Price	Volume	Mkt Share
1	Gate.io	HT/USDT	$0.5970	$15,449	2.9%
2	Gate.io	HT/BTC	$0.5946	$5,600	1.05%
3	Bitfinex	HT/USDT	$0.8898	$37	0.01%
4	Bitfinex	HT/USD	$0.9079	$35	0.01%
5	LBank	HT/USDT	$0.5980	$512,473	96.05%
6	Poloniex	HT/USDT	$0.3090	$219,442	41.13%
7	FINEXBOX	HT/BTC	$3.29	$1,236	0.23%
8	HitBTC	HT/BTC	$0.6925	$21	0%
9	HitBTC	HT/USD	$0.4762	$1	0%