- Huobi Crypto exchange originated in China and is now in leagues with big players.
- Huobi Token has been at a stable point for a while.
- The future of HT token is bright.
Huobi is a Crypto Exchange Company founded in 2013 and co-founded by Leon Li, a former computer Engineer at Oracle. He has been a big Crypto Enthusiast and a Bitcoin supporter from the early days. He was determined from the beginning to introduce and educate people about Blockchain technology.
Other co-founders of Huobi are Jun Du, CEO of Node Capital and Biki.com, and Herbert Rafael Sim, founder of Crypto Chain University and associated with many Media powerhouses like Forbes.
Huobi Crypto Exchange Operations
Huobi Shifted its operations to Seychelles( a country in East Africa) due to its crypto-friendly nature. Even Binance and Kraken are present in the same region with a user base of 99 Million.
Huobi now operates Huobi Global, Huobi China, and Huobi US. It has now acquired Bitex, a firm platform for businesses that provides an infrastructure to store and issue digital assets; it also acquired tools like Quick Wallet. All of this is for the convenience of customers.
Huobi Token
Huobi also has its token Huobii Token(HT), a Utility Token. HT had its ICO in February 2018 and was officially launched in January 2018. was $34.25.Its initial price in February 2018 was $1.43, and peak was $34.25 in May 2021.
While in June 2023, the token price has declined a lot in the aftermath of the crypto winter. The price at the time was $2.634. HT token has a Market Capitalization of $427.3 Million.
Current circulating supply stands at 162.23 Million tokens with the maximum supply of 500 million Tokens.Of the 500 Million supply, 300 Million were distributed among Huobi’s users, 100 Million were for the platform’s rewards and operations, and the rest of the 100 Million were reserved for team incentives.
Price graph of Huobi from it launch to 10th June 2023, Source: Lunarcrush
HT is an ERC-20 Token meaning it is on the Ethereum network, which would promote interoperability between different channels. This would also make its token very versatile among different utility tokens such as NFTs.
Perks of Owning an HT Token
- Locking your tokens for a certain amount of time would help you redeem benefits in the form of Airdrops when a new token is released in the exchange.
- The token also gives its users opportunities to earn for its users in the form of passive income on APY; It even provides one with a double investment plan.
- Huobi has many services to give one person; you name it, they have it. It has a very varied user base and has such options for them too.
Conclusion
Huobi has an ecosystem that truly works in the field of decentralization. Be it Web3, Cryptocurrency, or NFT, it has solutions in every direction. Being a Crypto exchange platform, it has all the services needed to be optimal and excel in this field.
Huobi has a promising future ahead which is more ensured by its community. It offers rewards to its loyal customers, which in turn ensures a running user base for the company. It has a well-established position in this competitive market and hopes to go further.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in crypto assets comes with a risk of financial loss.
