Huobi
Huobi, the third-largest cryptocurrency exchange in the world, recently announced and launched a new currency. The Huobi Token (HT) rewards exchange users for their loyalty with lowered transaction fees while also carrying its own value in tradable pairs against popular currencies. The hope was to bring greater value to Huobi’s millions of users, mostly located in Asian countries. The launch of the Huobi Token follows in the footsteps of other loyalty-building tokens that other exchanges have launched. The first and most successful of these tokens has been Binance Coin (BNB). The creation of BNB secured Binance’s place as the world’s leading exchange. It offered discounted trading fees in exchange for customer loyalty, primarily functioning as a loyalty rewards system.
Huobi officially announced its intentions to launch a new token on January 22, 2018. Over the course of 15 days, Huobi would distribute 300 million HT (60% of the total supply) to its pro users who purchased a discounted service package. Each morning, a new batch of HT would become available on a first come, first served basis. Huobi declared this token distribution scheme, “not an ICO,” due to the nature of the offering. Users are buying a specific service package, part of which includes HT that give a discount toward trading fees. The exchange launched the Huobi Token as part of an overall strategy to recover its user base after tightening regulations in China severely restricted cryptocurrency trading. In an interview with CoinDesk, Leon Li, Huobi’s founder, revealed that Chinese rule changes had decimated the trading volume on Huobi by 95% between September 15 and November 1, 2017.
The HT token distribution began on January 24 and wrapped up on February 7, 2018. Each day of the distribution, millions of tokens sold out in mere minutes after going on sale. At that point, 300 million HT had been distributed to Huobi Pro members who bought packages. That’s 60% of the total supply currently in public circulation. Another 200 million HT, 40% of the total supply, was set aside. 20% goes toward user rewards and platform operation. The other 20% is vested for four years and constitutes the team reward.
Huobi isn’t the first exchange to issue its own token. Binance (BNB), Bibox (BIX), KuCoin (KCS) and Coss (COSS) have all issued their own tokens as well.
Cryptocoins News / CoinJournal - 2 months ago
TLDR:
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Justin Sun has burnt $50 million worth of Huobi Tokens from circulation, effectively lowering the total supply to 110 million.
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Cryptocoins News / CoinJournal - 5 months ago
Huobi Token (HT) rises to a five-month high.
Today’s surge has broken a 12-month downtrend.
Daily trading volume for HT reaches $33.1 million, the highest in months.
The native cryptocurrency& of crypto exchange HTX, Huobi Token (HT), has...
Bitcoin News / Bitcoinist - 1 year ago
Huobi Token (HT) has emerged at the center of insolvency rumors following a shocking performance on Thursday. Following the plunge in the general crypto market, Huobi Token took it a step further with a massive 90% drop in just a matter of minutes. N...
by COINS NEWS - 1 year ago
There isn't any immediate news for why the Huobi Exchange Token is immediately down. However it's taken a much sharper crash than the rest of the market. https://preview.redd.it/5s7z51ex6sma1.png?width=1044&format=png&auto=webp&...
Bitcoin News / Bitcoinist - 1 year ago
Huobi Token (HT) appears to be in a vulnerable state as it continues to deal with the drama that is happening within the Huobi cryptocurrency exchange.
While the crypto hiked its trading price by 3.2% during the last 24 hours to trade at $4.72 at the...
Cryptocoins News / CoinJournal - 1 year ago
Cryptocurrencies remained on edge in the first week of 2023.
The hawkish Fed minutes led to more concerns about the industry.&
Tron, VIDT, and Huobi Token will likely dive during the weekend.
Cryptocurrency prices remained on edge in the...
Cryptocoins News / CoinJournal - 1 year ago
Huobi Token is the best performer amongst the top 100 cryptocurrencies by market cap so far today.
The Huobi crypto exchange is set to lay off 20% of its workers amidst the crypto winter.
The broader crypto market could end the week in the red...
Bitcoin News / Bitcoinist - 1 year ago
Data suggests Huobi Token whales and sharks have been accumulating recently despite HT’s 24% decline during the last week.
Huobi Token Whales And Sharks Have Added Almost 18% To Their Holdings In Recent Days
As per data from the analytics platf...
Cryptocoins News / NewsBTC - 1 year ago
The cryptocurrency market is currently experiencing some turbulence, and many coins are struggling to keep up with their peers. However, one coin is bucking this trend and gaining momentum at an impressive rate. Huobi token is on the road to being th...
Cryptocoins News / NewsBTC - 1 year ago
HT’s price shows strength as price cracks 77% gain despite the market displaying uncertainty.Β
HT bounces from the downtrend as the price breaks out of a descending triangle with strong buy volume.Β
The price of HT shows bullish signs as the...
Cryptocoins News / The Cointelegraph β - 1 year ago
HT price makes further gains as Huobi Global opens SEAN spot trading, but the rally might be short-lived as technicals flip bearish. Huobi Token (HT) has been up 12% i...
Cryptocoins News / EthereumWorldNews - 1 year ago
The Huobi Token (HT) has experienced a jump of 84% following the news that Tron founder Justin Sun is acting as an advisor. The token is currently priced at $6.99, a 4-month high for the token.Sun has said that the HT must function more like the Bin...
Cryptocoins News / CoinJournal - 1 year ago
Huobi Token (HT/USD) rose another 25% on Wednesday, capping a solid weekly 58% gain. The surge happens amid positive developments for the crypto exchange.
Well, Huobi is trying to redeem itself after a challenging time in the& cryptocurrency mark...
Cryptocoins News / NewsBTC - 1 year ago
Huobi has had its ups and downs, just like every other entity in the crypto space. Not surprising. Before the Chinese 2021 ban on cryptocurrency transactions, the COO of the company, Robin Zhu, came under investigation in China for unspecified reason...
Cryptocoins News / NewsBTC - 1 year ago
Huobi Token (HT) price started a major increase above $5.00 against the US Dollar. It is now facing a major resistance at $6.85, above which it could rally to $10.00.
Huobi Token price gained over 50% in a few days and broke the $5.00 resistance.
Th...
Cryptocoins News / CoinJournal - 1 year ago
Huobi Token price has been in a strong bearish trend in the past few months as cryptocurrencies have crashed. HT/USDT was trading at $4.33, which was about 15% above the lowest level this month. It has crashed by more than 89% from its highest level...
Cryptocoins News / CoinJournal - 2 years ago
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Cryptocoins News / CoinJournal - 2 years ago
Huobi burns 3,000,000 tokens in September.&
HT maintains a flat graph.
HT is still about 70% below the previous ATH.&
The Huobi Global cryptocurrency exchange launched the Huobi Token (HT) in January 2018. HT operates on the ethereu...
Cryptocoins News / CoinJournal - 2 years ago
The eponymous coin of Chinese exchange Huobi has rallied by almost 50% this week, dispelling fears of a government crackdown&
Huobi’s exchange token, HT, has surged by 15% today, taking it up to a weekly climb of 47%. This rally comes in s...
Cryptocoins News / CoinJournal - 2 years ago
The digital asset exchange revealed it had burned nearly 4 million HT, bringing the circulating supply down to less than 178 million HT
Crypto trading platform Huobi Global revealed on Saturday that it had burned 3.797 million Huobi Tokens (HT) in Ju...