Huobi Token

Overview of Huobi Token

  • Huobi Token has a market cap of $ 4,123,986,145, which compares to Bitcoin (the most popular cryptocurrency by several metrics) with a market cap of $ 1,018,147,491,260, Litecoin at $ 17,513,556,049, Ethereum at $ 318,367,525,129, Tether at $ 51,232,976,357, and XRP at $ 73,674,006,811.
  • Huobi token is the exchange-based and native token of Huobi Global. It can be used to purchase monthly VIP status plans for transaction fee discounts, receive crypto rewards from seasonal buybacks, vote on exchange decisions, and gain early access to special Huobi events.
  • Huobi token is based on the Ethereum Blockchain, and within itself does not offer many innovative revolutionary developments, but as a means to reward loyalty of the exchange users.
  • Huobi Token price Index provides the latest HT price in US Dollars , BTC and ETH using an average from the world's leading crypto exchanges.
  • Huobi Token can be used internally on the Huobi environment and enables users to carry out transactions with lowered fees (The Analyst Team, 2018).
  • Huobi Token has a competitive advantage in the market, all thanks to its parent exchange, Huobi, which is the third-largest exchange in the world.
  • The Huobi token is an ERC-20 token, meaning it’s based on the Ethereum blockchain, and only 500 million tokens will ever be in circulation.
  • Huobi Token (HT) surged above the resistance at $26.89 on Saturday and hit a new all-time high at $29.54 on Sunday.
  • Huobi Token‘s official website, social accounts, blockchain explorer, and Github repository if applicable.
  • Huobi token’s growth between this year’s highs and lows has been over 3x.

    • Blockchain

    The world of cryptocurrencies is expanding at an undying rate.Amidst the ever-increasing popularity and growth of the crypto-universe, many new alternatives are storming the market, and they are making waves.Similarly, the popular cryptocurrency exchanges have started to roll out their own crypto-coins in order to attract and maintain their user base and reward their old users at the same time.One of such coins is Huobi Token, which was launched by Huobi, the third-largest cryptocurrency exchange in the world.Huobi token is a proprietary cryptocurrency that was issued by Huobi exchange in January 2018.This coin was introduced with the sole aim of maintaining the user network of Huobi exchange by offering them some incentives and allowing them to gain rewards by being active on their exchange.

    Mine

    The consensus on which the Huobi Token network is run is called Not mineable, while
    the underlying algorithm is called None.In the current state of Huobi Token currently is Working product

    Network

    Huobi Token’s code is solely built by the Huobi Group and is not open-source, which means we can’t see it.The backbone of the network is Ethereum Blockchain, and Huobi Token is also compatible with ERC-20 exchanges and wallets.The company has also developed Huobi Chain that will allow users a reliable infrastructure for self-finance.Huobi Token might also get updated and shifted to the new network.

    Support

    Huobi Token is a very recent entrant of the crypto-world as it was introduced into the market in January 2018.Since then, the coin has garnered positive developments and not much has happened in its short life span.Huobi token was initially launched as a loyalty-building token for the Huobi exchange.Since China’s ban on cryptocurrency in 2017, the markets experienced very low user activity and the future of cryptocurrency was being questioned.In order to combat this issue, Huobi launched the token to gain user attention and give new life to the crypto-exchange.The token rewards its users with lowered transaction fees and also serves as an investment tool by being tradable with other cryptocurrencies as well (Garner, 2018).Huobi Token was distributed among Huobi Pro members in its initial distribution phase.60% of the total Huobi Token supply was offered in the 15-day long runs that spanned from January 24 to February 7, 2018.20% of the supply was reserved for user rewards and platform operations while 20% is retained for the team working on the project.The results of launching a token of its own were very welcoming for the Huobi Group.Leon Li, the CEO of the company, released a public statement recently, citing the figures of company’s performance which showed that the user engagement had really boosted after Huobi Token’s launch.The trends also indicated the revival of the company’s diminishing popularity and better acknowledgements of its product line (Kuhn, 2019).Starting from April 2018, the company has organized eight separate token burning events.What the company does is that it buys back some of the circulating tokens and destroys them.This helps in stabilizing the coin and also maximizes profit for the investors.The investors also see a reason to hold the currency to maximize their returns.Around 21,356,800Huobi Tokens (HT) of the circulating 310,318,300HT have been destroyed by the exchange.Huobi Group has been involved in different projects that might support the use of Huobi Token in the future.The year 2020 will decide what other products Huobi Group reveals (Walters, 2018).

    Transactions

    Huobi Group has a number of partners some of which utilize Huobi Token and allow users to perform transactions using the same cryptocurrency.Recently a new partnership with FomoHunt, a cryptocurrency based marketplace where users can buy anything from art, tickets, grocery, clothes, etc.was announced (Libertas, 2019).

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    How do I buy Huobi Token?

    It is not possible to buy all cryptocurrencies with U.S.dollars.Bitcoin, Bitcoin Cash, Ethereum, Litecoin and other popular cryptocurrencies can be purchased with U.S.dollars using Coinbase or BlockFi.Once you have purchased Bitcoin using Coinbase, you can then transfer your Bitcoin to an exchange such as Binance to purchase other cryptocurrencies, including Huobi Token.

    How Many Huobi Token Coins Are There?

    There are currently 182,827,444 Huobi Token coins circulating out of a max supply of 500,000,000.

    Huobi Token (HT) Analysis – Similar Growth Potential To Binance Coin (BNB)?

    We’ve updated this comparative analysis with the latest data available, Please refer to: Huobi Token (HT) Comparative Analysis – June Update, to be in the known.

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    What coins are similar to Huobi Token?

    The following coins use Huobi Token’s ETH Token algorithm and proof-type: Chainlink, THETA, Binance USD, DREP, DREP [old], PancakeSwap, Aave, Maker, FTX Token, Crypto.com Coin, Dai, Polygon, Chiliz, Holo and OKB.

    What hashing algorithm does Huobi Token use?

    Huobi Token is a coin that uses the ETH Token algorithm.

    What Is Huobi Token's Price Today?

    Huobi Token (HT) is trading at $24.27 USD, decreasing by -10.48% since yesterday.Huobi Token has traded $1,122,784,069 USD in the last 24 hours.

    What Is Huobi Token?

    A brainchild of the Huobi cryptocurrency exchange, Huobi Token is a decentralized digital coin built on the Ethereum blockchain.HT was launched in January 2018 and distributed as a part of a special Huobi exchange service package, avoiding a standard ICO.In the first 15 days the users obtained over 300 million HT.

    What is Huobi Token?

    Huobi.pro is a world famous Bitcoin exchange.On Huobi.pro, you can trade Litecoin (LTC), Ethereum (ETH), Bitcoin Cash (BCH), Ethereum Classic (ETC), DASH, etc, using Bitcoin (BTC) and USDT.

    What is Huobi Token?

    HT is short for Huobi Token, which is the Huobi Global Ecological Token.HT is a decentralized digital asset based on Ethereum, with a limited total supply of 500 M, issued by Huobi Group.

    What is Huobi Token?

    The Huobi token is an ERC-20 token that allows users to receive a discount for any fees on the Huobi exchange.The HT tokens will be issued by an airdrop in which 60% of the tokens will be credit to the users' accounts, 20% will be used to support the platform operations and the last 20% will be used as an incentive to Huobi's team, with a freezing period of 4 years.In the future, the team plans to announce more benefits for the HT token holders.

    What Is Huobi?

    Huobi is a Singapore-based cryptocurrency exchange created in 2013 by former Oracle engineer Leon Li.Originally based in China, the Huobi Foundation expanded to Singapore, South Korea, and Japan following China’s 2017 Bitcoin trade ban.Huobi currently supports over 280 cryptocurrency markets, with over $350 billion worth of crypto tokens traded daily, making it the third-largest cryptocurrency exchange in the world.

    What is the Reddit page for Huobi Token?

    The official Reddit community (subreddit) for Huobi Token is r/HuobiGlobal.

    What is the value of Huobi Token?

    One Huobi Token (HT) is currently worth $24.31 on major cryptocurrency exchanges.You can also exchange one Huobi Token for 0.00044567 bitcoin(s) on major exchanges.The value (or market capitalization) of all available Huobi Token in U.S.dollars is $4.44 billion.

    What is Huobi Token?

    The Huobi Token was developed by Huobi Global to be used on the Huobi cryptocurrency exchange.Launched in 2013, the Singapore-based crypto exchange currently supports over 280 cryptocurrency markets, and over $350 billion worth of crypto tokens trade daily.This large volume makes it the third-largest cryptocurrency exchange in the world.The Huobi token is an ERC-20 token, meaning it is based on the Ethereum blockchain, and only 500 million tokens will ever be in circulation.The Huobi Token is a proprietary cryptocurrency that was designed to reward users on the Huobi exchange with lowered fees when transacting on the platform.It was released in 2018 and was distributed to pay exchange VIP members as a response to China’s crypto ban and the reduction in trading activity.It is tradeable with any of the more than 280 cryptocurrencies currently on the exchange and entitles holders with voting rights as well.There are five levels of Huobi VIP, with tiered discounts ranging from ten to fifty percent trading discounts offered based on how many tokens the user stakes.Staking tokens is also how users vote on which new assets are listed on the Huobi exchange.The Huobi foundation has also committed to using 20% of the revenue from Huobi Global to repurchase and burn Huobi tokens.

    Where can I get Huobi Token wallet?

    Huobi Token produces its own wallet software that is available for download on its website, which allows you to store Huobi Token on your computer.For maximum security, you can store your cryptocurrencies on a dedicated hardware wallet such as a TREZOR wallet or a Ledger Nano X.If you do not wish to buy a hardware wallet, you may consider using a mobile wallet such as Atomic Wallet, Jaxx, or Coinomi to store multiple cryptocurrencies with some added security benefits.

    History of Huobi Token

  • In 2013, the founding team foresaw the great potential of the blockchain industry to revolutionize the future of the global financial system.
  • In 2018, Huobi Group, the Mother company of the third-largest exchange in the world, launched its own loyalty-building token known as Huobi Token (Garner, 2018).
  • In 2019, Huobi has been making clear efforts to reclaim more of the market.