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Price Updates, Recent Developments, Future Events, Community -Breaking

by Mike Robinson

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Huobi Token (HT): Price Updates, Recent Developments, Future Events, Community
  • Huobi Token (HT)The native cryptocurrency token for the Huobi Global Exchange
  • Huobi has been designated a Type 1 Financial Instruments Business. This allows the exchange to trade derivatives.
  • HuobiCloud Wallet is now available. It allows users to store digital assets online without storing a key.
  • Although the Huobi Token’s monthly gain is decreasing to $9, it still retains some of its previous gains.

Huobi Token is the native token which serves as the loyalty system for the Huobi crypto exchange. The token is unique to Huobi and depends on Huobi.

HT, a blockchain-based asset that is decentralized and compliant with ERC-20 is available. This token is used to support Huobi Global’s business, all products and services, such as VIP discounts and HT events and trading with popular coins.

Houbi Token is a key governance tool in the Houbi ecosystem. It allows holders to cast their votes on future decisions. Huobi Token is gaining popularity, just like the other exchange tokens.

Current Developments and Future Events

Houbi announced it would close derivative trading to Chinese mainland users following the Chinese crackdown on cryptocurrency. Being one of Huobi’s largest markets, the crackdown has taken a toll on the crypto exchange.

Huobi restricted derivative trading to Chinese traders on October 29 in compliance with Chinese policies. In addition, Huobi will “retire user accounts over the next few months.”

The Houbi Token has suffered from this crackdown. Houbi Token has suffered from a decline in trading volumes among leveraged Huobi products. Huobi’s share of spot-market trading volumes has dropped to 16% from 24% in early 2021.

It’s not all bad news for Huobi, as the exchange seeks to explore other markets. On October 18, Huobi Japan received approval from Japan’s Financial Services Agency to register as a Type I Financial Instruments Business. Huobi Japan becomes the seventh cryptocurrency exchange to obtain this license.

Huobi Japan will be able to trade, manage, and underwrite cryptocurrency derivatives by operating as a Type 1 Financial Instruments Business. Huobi will operate derivatives trading platforms.

Huobi Japan provides spot trading for fourteen cryptocurrencies including Ethereum and Huobi Token. Therefore, offering derivative trading could provide a major boost to Huobi’s weakening trading volumes.

A feature was also recently added to the multi-chain professional wallet that Huobi has created, which allows users access to decentralized financial (DeFi) services. Cloud Wallet was launched by the Huobi Wallet in October 2011.

Huobi Cloud Wallet solves the problem that traders often face when managing a non custodial wallet. Huobi Global claims that the Cloud Wallet allows users to access their digital assets and not need to keep a key.

Huobi’s third-party management system will keep the data of its users secure through key escrow. This allows users to securely hold digital assets, without the need for managing their private keys. In addition, Huobi’s strategic move into the growing DeFi ecosystem is expected to improve the performance of the exchange and its native token, HT.

Huobi Global launched an advertisement posting function via the Huobi app. Advertisers now have the ability to post peer-to–peer (P2P), advertisements on Huobi. This is available at no additional cost and without any fees. Huobi Ad Space could be used to help small-business owners across the world get started with cryptocurrency.

Huobi Global uses a percentage of Huobi Token (HT), as with many exchange tokens to raise its prices. Huobi Global, which announced its September consumption of 3 million Huobi Tokens (HT) in October (15.10.2009; approximately $38.9million).

Huobi Token (HT) Price Updates

The price of Huobi Tokens (HT) plunged after China’s ban. After a high in September at $17.66, the HT price plummeted to $6.04 as of September 26.

Huobi Token’s September Price Chart (HT) Source: Tradingview

HT gained some ground to $8.14 in the opening of October. As the cryptocurrency market responded to the news about the Bitcoin ETF, the HT rose to $10.77.

Huobi Token’s October Price Chart (HT) Source: Tradingview

After a 8% increase on October 28, Huobi Token HT now trades at $9.3010. HT ranks as the 78th most valuable crypto, with a $1.5 billion market cap.

To The Flipside

  • Huobi Token’s May 2021 record high is significantly undervalued.
  • Huobi reached a peak of $39.81 in May. HT currently trades at 76% below its May peak of $39.81

The Community

Huobi Global, one of crypto’s largest communities, is a topic that the Huobi Team takes special care. Huobi recently launched special trading events that offered generous rewards for its members who hold Huobi Tokens (HT).

Huobi Token has a crucial role to play in the growth of the Huobi ecosystem. Voting on platform future decisions is done using HT. It is a great project because of community members. @Maumol880 agreed with him:

@CharlieB753JJEU shared his views on the value of HT with another user:

Another user @btc_is_bitcoin highlighted the strength and potential of Huobi.

Why you should care

Huobi Token’s strategic position allows it to gain from Huobi Global, which offers more trading options in Japan. Huobi Global will also be looking for new and unique markets to target marketing and advertising P2P.

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