The price Huobi Token today is 7.81 USD, and the trading volume in 24 hours - 67,349,774 USD. The crypto asset has grown by 4.12% over the day. Currently, the coin’s market capitalization is 1,257,598,176 USD, and has 161,078,564 coins in circulation with the max supply of 10,000,000 coins HT.
What is Huobi Token (HT)?
Huobi Token is an ecosystem token launched by Huobi Global, offering benefits such as trading commissions and margin discounts, as well as access to certain trading events. Huobi has committed to using 20% of the exchange's revenue each quarter to buy HT on the open market and then burn it. They also burn tokens used in FastTrack for voting on token listings, as well as for selling tickets from Huobi Prime Initial Exchange Offers (IEO).
When was Huobi Token (HT) launched?
Huobi was founded in 2013, and has since built one of the largest crypto exchanges in the world. They launched their own token in early 2018. The Huobi token (HT) is distributed through the exchange of "point cards", which are prepaid cards for basic services on Huobi, where 1 point is equivalent to one Tether (USDT). Holding HT offers users discounts on both trading and margin fees based on a multi-level system. Following the lead of Binance, which began offering direct token sales through its IEO launch pad, Huobi announced its version of Huobi Prime in March 2019.
Huobi offers trading discounts and margin fees based on how much HT has been held in the last 30 days. Additional discounts are available to professional users, which are defined as owning more than $ 5,000 HT and the equivalent of 1,000 BTC at a 30-day trading volume. For those who own more than 100,000 HT, another 35% is deducted from the commission rate.
Huobi Prime is the company's IEO platform that allows you to directly offer tokens. They were designed to allow retail investors to invest in initial sales, limiting the purchase of tokens to the equivalent of $ 1,000 for early investors. Once the token sale is completed, they will be immediately exchanged for HT on the exchange. Placement on Huobi Prime takes place in three rounds with large discounts usually provided in earlier rounds. Participation usually requires a minimum average monthly HT, and the trading quota is based on a tiered HT ownership system. After the ticket sale is completed, the HT received is subsequently burned.
Five projects are announced each month, after which the community votes to list on the Huobi exchange. The project with the highest number of votes will be listed, and the rest will go to the vote next week. Users who voted for the winning project have the right to purchase tokens at a discount. All of FastTrack's profits are used to buy back HT, which is subsequently burned.
How many Huobi Token coins are in circulation?
Huobi launched its token by distributing 60% of the tokens to users who purchased prepaid services on the platform. Although it wasn't technically a token sale, it was similar to a sale, as users who paid for the exchange received tokens. The remaining 40% of the tokens were used to pay for operations, team incentives, and user rewards.
At the moment in circulation is 200 076 194 coins HT.
- To own your crypto assets, you need to manage your own private keys.
- Ledger hardware wallets make private key management easy and secure.
- Each unique 24-word recovery phrase creates a new set of private keys.
- Make sure you secure your 24-word recovery phrase properly.