Huobi Token, a cryptocurrency issued on the Ethereum platform, is identified by the symbol HT. It has a circulating supply of 246 million virtual currencies and a maximum supply of 500 million virtual currencies.
Huobi consistently ranks high in the world in terms of daily trading volume, and as a virtual currency exchange, it made the decision to launch its own token.
The value of Huobi Token is directly associated with the performance of the Huobi.Pro virtual currency exchange. It can be noted that a significant majority of the circulating supply of Huobi Token is presumed to be on the Huobi exchange.
What is Huobi Token (HT)?
Huobi Token (HT) is the native token of the cryptocurrency trading platform Huobi Global. Bearing the abbreviation HT, Huobi Token is a decentralized digital asset developed on the Ethereum blockchain, functioning under the ERC-20 standard. Huobi Exchange was established in 2013, and HT Token was introduced to the market in January 2018. Holders of HT Tokens gain the privilege of discounted transaction fees when engaging in transactions on the Huobi Global exchange. Additionally, HT Token holders can benefit from exclusive advantages such as reduced transaction fees, airdrops, and early access to new projects through VIP statuses that can be acquired with HT Tokens. Moreover, owning the token grants the right to vote on decisions made by the exchange.
What is the Supply of Huobi Token?
The total supply of Huobi Token is capped at 500 million. When HT Token was launched in January 2018, a portion of it was made available for sale at a price of $1.52, while the rest was distributed for free to VIP users based on their levels. According to CoinMarketCap data at the time of this writing, the circulating supply of HT Token is 155 million.
What is the Project Behind Huobi Token?
The core project behind Huobi Token is the digital asset financial services group known as Huobi Global. The platform was initiated by Leon Li in 2013 in China. Upon its establishment, Huobi quickly rose to become the leading cryptocurrency exchange in China, achieving the highest trading volume in the country. By 2016, Huobi continued its ascent, controlling nearly 60% of global cryptocurrency trading. Following China’s restrictions on cryptocurrencies, Huobi relocated its central office in the country and began using the China office solely for market research. As of 2017, Huobi is managed from its central office in Singapore.
Is Huobi Reliable?
Huobi Platform employs DDoS-resistant protection technology to ensure the security of its operations. Furthermore, approximately 98% of assets are stored in a “Multi-Signature” cold wallet. In its commitment to safeguarding user security, the exchange utilizes a risk control method named “Don’t Be Evil.” Since 2018, the platform has implemented the Security Reserves Mechanism as part of its asset protection strategy. In January of the same year, Huobi established the Investor Protection Fund, providing HT holders with protection against losses resulting from fraudulent activities or other risks associated with cryptocurrency trading.
Where Can You Buy Huobi Token?
Huobi Token (HT) can be acquired on some of the largest and most reliable cryptocurrency platforms, including Huobi Global, Gate.io, and KuCoin. As of April 10, 2022, the price of HT Token hovers around $9.5.