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Huobi Token(HT)

HT (Huobi Token) Token Price & Latest Live Chart

2023-04-21 15:16:40

Huobi TokenPrice | HT USD Price Index & Live Chart | FameEX

What is HT (Huobi Token)?

Huobi Token (HT) is the native cryptocurrency of the Huobi Global exchange, which was issued and distributed in 2018 through a special giveaway plan to Huobi users. HT is an ERC-20 token that operates on the Ethereum blockchain, and its value is closely related to the popularity of the Huobi platform. The token includes a mechanism of burning, which reduces the token supply every month. Huobi allocates 20% of its monthly revenues to repurchase and destroy HT, which helps to keep inflation low and supports the token's price in the market, potentially increasing its value over time. HT holders can benefit from various use cases, such as trading fee discounts, early access to new crypto projects, and participation in new token launches at a discount before they are listed on the Huobi exchange through the Huobi Prime platform. Users can also stake their HT to participate in new listing projects and earn free airdrops of new tokens through the Huobi PrimePool.

Furthermore, HT can be used to earn interest in Huobi's decentralized ecosystem, the Huobi ECO (HECO) Chain, which offers various financial projects with low gas fees and cross-chain functionality. HT also includes a voting right that allows users to vote on various issues, such as future coin listings, reflecting Huobi's community-driven approach toward the future development of the platform. Moreover, holding HT grants access to exclusive Huobi events and is accepted as payment for various services.

How does HT (Huobi Token) work?

Huobi Token (HT) serves multiple functions within the Huobi exchange, enhancing the user experience and facilitating the platform's operations. Some of the primary ways HT works within the ecosystem are:

  • Trading Fee Discounts: Holding HT allows users to receive discounts on trading fees. The more HT a user holds, the higher the discount they may be eligible for, incentivizing users to accumulate and retain HT.

  • Access to New Cryptocurrencies: Huobi Token holders often gain priority access to new cryptocurrencies listed on the platform. This exclusive access can provide users with an opportunity to invest in emerging projects before they become widely available.

  • Voting Rights on Platform Decisions: HT holders have a say in the platform's development by participating in decision-making processes. Huobi users can vote on various topics, such as listing new tokens or implementing new features, giving them a sense of ownership and control over the platform's direction.

  • Huobi Eco Chain: HT plays a vital role in the Huobi Eco Chain, which hosts decentralized finance (DeFi) applications like lending, borrowing, and staking platforms. By providing liquidity and securing the network, HT enables the smooth functioning of these DeFi applications.

  • Token Burn Mechanism: To maintain its value, HT employs a token buyback and burn mechanism. Huobi uses 20% of its monthly revenue to buy back HT from the open market and burns the tokens, effectively reducing the supply and increasing the token's value over time.

  • Platform Governance: Huobi Token holders can participate in the platform's governance by proposing or voting on changes and improvements to the exchange's policies, products, and services, fostering a more community-driven approach to the platform's development.

Huobi Token plays a crucial role in facilitating user benefits and maintaining the platform's stability and growth. By offering a wide range of utilities and incentives, HT drives user engagement and adoption while securing the Huobi Eco Chain and promoting the platform's overall success.

HT (Huobi Token) market price & tokenomics

The total supply of HT is capped at 500 million tokens. HT's tokenomics resemble that of Binance Coin (BNB), with a buyback and coin-burning strategy aimed at increasing its value. As of now, HT (Huobi Token) is ranked #76 by CoinMarketCap with market capitalization of $635,698,188 USD. The current circulating supply of HT coins is 162,233,844.

Why do you invest in HT (Huobi Token)?

Investing in HT could prove beneficial due to several factors: HT's value is closely tied to the success of the Huobi exchange, meaning that as the platform gains popularity, HT holders may see their investments appreciate. Additionally, native tokens of other exchanges have historically performed well, which inspires optimism for HT's future performance. Furthermore, Huobi's compelling loyalty and rewards scheme positions the token advantageously within the increasingly competitive cryptocurrency exchange industry.

Is HT (Huobi Token) a good Investment?

Huobi Token offers unique benefits and has demonstrated strong growth since its inception. However, potential investors should approach any investment decision with caution. It is essential to weigh HT's potential against other investment options within the cryptocurrency market and carefully consider individual risk tolerance and investment strategies before committing to any digital asset.

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