What is Huobi Token?
Huobi Token (HT), Huobi Global’s native cryptocurrency, is ERC-20 compliant, and its value is dependent on the Huobi cryptocurrency exchange’s reputation, yet there are other factors that can have an impact.
What is Huobi?
Huobi Global is an Ethereum-based cryptocurrency exchange. It is one of the top cryptocurrency exchanges out there, and its presence in Asian markets is strong. Almost 10 years ago, Huobi was founded, with its ecosystem comprised of all sorts of trading opportunities, cryptocurrency loans, staking, cryptocurrency yield products, and more. It was initially founded with the aim of providing a crypto trading platform for people within mainland China or beyond. However, it swiftly grew to establish itself among the three biggest cryptocurrency exchanges in China, offering more than enough liquidity for Bitcoin traders.
But the altering regulatory environment within China compelled Huobi to shift its cryptocurrency trading services overseas in 2017. The firm then incorporated itself within Seychelles and established a new headquarters within Singapore, with the aim of expanding into other Asian markets or the world at large.
Who created Huobi Token?
Leon Li founded Huobi in 2013 in Beijing. He is a former student of Tsinghua University and worked at Oracle as a computer engineer prior to starting the Huobi exchange.
Huobi Token vs. Binance Token
By far, Binance Token (BNB) outperforms HT in terms of value. This is because BNB is currently valued at nearly $290 and HT is only around $5. The same is true when comparing the market capitalization, daily trading volume, and every other stat between the two. Consequently, the market capitalization of BNB is more than $45 billion, whereas HT’s is over $800 million.
However, while the HT token itself might not be as valuable as BNB, it might offer more utility in some aspects. For example, the Huobi exchange might have more to offer in terms of security due to the measures it has taken to protect its investors. And then there are its promotional aspects, where holders can gain early access to every new listing of tokens on the exchange and more. So, at the very least, HT holders might feel more secure, with the promotional aspects serving as good incentives to hold on. Still, BNB might be a preference over HT for many, mainly because of its long-term growth and overall utility within a vast ecosystem of decentralized applications.
Huobi Token vs. KuCoin Token
In terms of price, KuCoin (KCS) is currently valued higher than the Huobi Token, with a price of around $8. However, the HT token’s market capitalization and other stats are higher. KuCoin’s market capitalization is a little over $750 million, while HT’s is more than $800 million. When it comes to other aspects, however, things tend to look a little different.
For instance, when it comes to security, Huobi might have a bit of an edge, especially considering the fact that the exchange has never experienced a security breach, albeit a DDoS attack in 2015. KuCoin, on the other hand, has been hacked before, with more than $250 million stolen in 2020. When it comes to incentives, however, KuCoin may have Huobi beat. For example, KCS holders who hold over 6 KCS are liable to acquire a daily dividend. This comes from 50% of the daily trading fee income of KuCoin. Therefore, overall, KuCoin, because of its incentivization and other aspects, might be a better option for certain holders.
Where can I buy Huobi Token?
Probably the easiest way to purchase HT, if you do not have an account on any other exchange that supports the token, is through Huobi Global. This exchange has a great number of tokens on offer at beneficial trading rates. However, if you want to purchase it from another exchange, you have several options. For example, you can buy the token on Gate.io, KuCoin, Binance JEX, Anyswap, AscendEX, and many more.
How to buy Huobi Token
1. Create an account
Make a new account or log in if you already have one on a cryptocurrency exchange that supports the trading of Huobi Token, such as Huobi Global or Binance.
2. Verify your identity
You need to go through the process of KYC by providing personal information and proof of identity, as required by the exchange.
3. Add funds
Store some funds in your account. This can be done by depositing cryptocurrency or fiat currency, depending on the exchange.
4. Select Huobi Token
Search for Huobi Token (HT) and select the trading pair you want to use, such as HT/BTC or HT/ETH.
5. Place a buy order
Purchase Huobi Token by placing a buy order with the amount of you want at the current market price or at a specific price you set.
6. Store in a wallet
Once the order is filled, you will own Huobi Token and it will be stored in your exchange wallet.
Is HT a good investment?
The Huobi Token provides its users with numerous benefits. A lot of these benefits tend to be similar to other exchange-based tokens, such as BNB. That said, there are others that are unique to the token, which is made to drive demand, liquidity, and even price.
For instance, a user can utilize HT to buy a variety of VIP status levels offered on the exchange. At times, Huobi will use its income from transactional fees to purchase Huobi tokens back. Furthermore, early access can be an enormous benefit in disguise, proving extremely valuable at some point. Therefore, through its VIP subscription service, users can acquire early access to tokens that will be traded on Huobi or at special events.
There are other benefits to owning the token as well, but, as mentioned previously, they are not unique to Huobi Global. Nonetheless, they can be significant and make all the difference if one is looking to invest.
Huobi Token Price Prediction
While there is no surefire way to accurately predict how much a token might be worth later on, there are several factors that can be considered when predicting prices. These include price variations, volume changes, similar coins, and market cycles.
So, according to the information gathered by thenewscrypto.com, the price of HT might hit $20 by 2025. Following that, it might see price increases of $3–$5 until eventually hitting around $45 by 2030. However, it should be noted that such estimates obviously vary from site to site. Some sites tend to be very optimistic in their predictions, while others tend to be more realistic. Hence, it is better if one looks at predictions from many sites, which would help in gaining a more general sentiment regarding the future of HT or any other token for that matter.
Is Huobi Token safe?
According to Huobi Global, the platform has served millions of cryptocurrency traders and has handled more than a billion dollars over the last four years. Then, there is its anti-DDoS attack system that, alongside its distributed architecture, makes cryptocurrency trading a lot safer. Furthermore, around 98% of the tokens on its platform are stored inside a multi-signature cold storage wallet.
A “cold storage wallet” is indicative of a cryptocurrency address that isn’t stored online and has extremely low chances of being hacked. This, in conjunction with other protective measures it has in place during trades and cryptocurrency buying and selling can lead one to the conclusion that the exchange is a safe place to store their funds.
Huobi Token Basics
The primary characteristics of Huobi Token are as follows.
|Cryptocurrency Features||Huobi Token (HT)|
|Publisher or Developers||Leon Li|
|Jurisdiction of Incorporation (Registration Number)||Seychelles|
|Published Date (CMC Registration)||2018-02-03|
|Max Supply||500,000,000 HT|
Investment Suitability of Huobi Token in 2023
The results of the Huobi Token investment suitability evaluation conducted by Coin-Labs are as follows.
|Investment Suitability Rating Items||Scores and Current Status|
|Company Activation Rate||/ 10.0 CAR|
|Communication Rate||/ 10.0 CR|
|Technology Transparency Rate||/ 10.0 TTR|
|Development Participation Rate||/ 10.0 DPR|
|Listing Status on the Top 4 Exchanges in Korea||Listed on Exchanges|
|Listing Status on the World's Top 10 Exchanges||Listed on 4 Exchanges|
|Number of Available Pairs Worldwide||115 Pairs|
|Market Cap of the Cryptocurrency||1,009,528,779,243 KRW (Rank #56)|
Huobi Token Price
The price and recent trading volume of Huobi Token are as follows. (Data of 2023-01-27 16:40:24)
|Price Items||Price and Trading Volume of Huobi Token|
|Huobi Token Price||6,222.677 KRW|
|Price Change 24h||-1.22%|
|Price Change 7d||1.89%|
|Trading Volume 24h||10,951,564,931 KRW|
|Trading Volume Change 24h||-2.36%|
You can check the development status and social media information of Huobi Token through the links in the table below.
|🌎 Official Website||https://www.huobiwallet.com|
|📖 White Paper|
|🛰️ Source Code (GitHub)|
|🎺 Message Board|
Korean Crypto Exchanges where Huobi Token is Listed
Korean crypto exchanges where Huobi Token is listed in 2023 are as follows.
|Top4 Exchanges||Listed Status||Page URL|
World Crypto Exchanges where Huobi Token is Listed
World crypto exchanges where Huobi Token is listed in 2023 are as follows.
|Top10 Exchanges||Listed Status||Page URL|
Frequently Asked Questions
What is the current price of Huobi Token?
Huobi Token price today is 6,222.677 KRW. Furthermore, the price of Huobi Token has fluctuated by -1.22% from 24 hours ago, and by 1.89% from a week ago.
Where is Huobi Token listed?
Currently, it is listed on a total of among the 4 largest exchanges in Korea, and is listed on a total of 4 among the world top 10 exchanges.
What is the market cap of Huobi Token now?
Currently, Huobi Token has a market cap of 1,009,528,779,243 KRW, which is ranking 56 among cryptocurrencies worldwide.
How much is the trade volume of Huobi Token?
Currently, 162,233,844 HT coins are circulating through 115 market pairs. As a result, in the last 24 hours, 10,951,564,931 KRW of HT coins were traded in the market.