Huobi (HT) – Everything You Need To Know
What is Huobi Token?
Huobi Token (HT) is an ERC20-token issued by the cryptocurrency exchange Huobi. The tokens are given away for free, as gifts for Point Package purchases or user rewards. The total supply is capped at 500 million HT.
The token can be used to pay fees on the Huobi exchange with discount or vote on the future development of the Huobi exchange. Additionally, there will be exclusive events for holders of HT and Huobi plans regular buybacks of the asset, 20% of the circulating supply each season.
300 million HT will be given out to users, and 40% of the total supply is held by Huobi for team incentivization, platform development, and user rewards.
Huobi tokens launched in February 2018 and were distributed to users as gifts for purchasing service fee packages at the Huobi exchange. No ICO was held.
Can Huobi Token be mined?
No, HT tokens are Utility tokens and cannot be mined or staked. They are issued under the ERC20 token standard on the Ethereum blockchain.
What differs Huobi Token from other Cryptocurrencies?
Huobi is a token issued by a Cryptocurrency exchange. Binance was the first to issue their own token (BNB), Kucoin and several other exchanges followed. The tokens can be used to pay trading fees with a discount (up to 50%).
How much is Huobi Token worth today?
What is the total and the circulating supply?
The total supply of HT is 500,000,000 and the circulating supply at the time of writing is 50,000,200 HT.
Where can you buy HT?
You can buy HT only on Huobi.
Can HT be sold for cash?
Development of HT is finished. The tokens will now be gradually given out to users and brought in circulation. Trading pairs against HT will be available soon. Also, HT will be considered when it comes to listing new tokens on the exchange.
Verdict and Rating
6/10 As seen with Binance Coin, exchange tokens can be very valuable, and they have an actual use-case, which is paying fees with a discount. HT is scarce and will be used by large-scale traders and people who want to list an asset on the Huobi exchange. The growth potential of HT is closely tied to the future success of Huobi as an exchange. The exchange is respected and expanding. Huobi token is one to watch.
DisclaimerThe writer’s views are expressed as a personal opinion and are for information purposes only. It is not intended to be investment advice. Seek a duly licensed professional for investment advice.
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