Huobi

What is Houbi?

Huobi Token (HT) serves as the native cryptocurrency of Huobi Global, a decentralized digital asset exchange. Built on the Ethereum blockchain and adhering to the ERC-20 standard, HT's value is influenced by various factors, including the reputation of the Huobi crypto exchange.

One notable utility of the token is its ability to reduce trading commissions on the exchange, which are typically deducted from users' wallets. However, HT offers more than just commission reduction. With HT, users can acquire monthly VIP-status plans that provide transaction fee discounts. Token holders possess voting rights in exchange-related decisions, can receive cryptocurrency rewards through seasonal buybacks, and gain early access to special events. Moreover, HT holders have the flexibility to trade their tokens for other cryptocurrencies at any given time.

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Recent Video Interview

Main points of the interview:

• Partnership with Nervos: Collaborating to support Nervos' public chain.
• Expansion into Turkey: Complies with regulations and sees potential in the market.
• Plans for Japan: Obtained license for initial exchange offerings.
• Market Expansion Targets: Focuses on increasing overseas trading volume. Eyeing expansion into South Africa in 2020.

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What's Special About Houbi?

Huobi implements a buyback program where they repurchase 20% of their native currency, Huobi Token. These repurchased tokens are allocated to a user protection fund, which serves as a safeguard in the event of a hack. If such an unfortunate incident occurs, the funds from the protection fund can be redistributed to HT holders.

In addition, Huobi incentivizes users who purchase cryptocurrency using Huobi Tokens by offering them a transaction fee discount. This encourages the use of HT and provides an added benefit to holders when conducting transactions on the platform.

Huobi operates in two primary versions: Huobi OTC and Huobi Pro. Huobi OTC is a simplified and lightweight version that enables users to trade 25 fiat currencies (such as the Euro) for six cryptocurrencies. Most trades involving Bitcoin, Ethereum, or Tether on Huobi OTC do not incur transaction fees. On the other hand, Huobi Pro caters to advanced traders and offers a wide selection of over 100 cryptocurrencies. For most transactions on Huobi Pro, there is a 0.2% fee associated with the trading activity.

Founders of Houbi

Leon Li is the esteemed founder and CEO of Huobi Group. He completed his education at Tsinghua University, specializing in the Department of Automation. Initially, he embarked on his professional journey as a computer engineer at Oracle, a renowned global provider of databases. Later, Li took the bold step of establishing Huobi Group, assuming leadership of the company and successfully steering it to the forefront of the global financial services realm, specifically in the domain of digital assets.

Jun Du, a co-founder of Huobi, brings his valuable expertise to the organization. Prior to his involvement with Huobi, Du served as a director of community operations at Comsenz and worked at Tencent, a prominent technology conglomerate. Moreover, Du holds the position of CEO at Node Capital, a venture capital firm with a specific focus on the blockchain industry. He is also the founder of Jinse, a comprehensive blockchain service platform that integrates industry news, market information, and data.

The addition of Herbert Rafael Sim, the founder of Crypto Chain University, to the Huobi Group team significantly enriched their talent pool. Sim boasts an impressive track record and has made noteworthy contributions to esteemed publications such as Forbes, The Huffington Post, and Wardrobe Trends Fashion. Within Huobi, Sim assumes responsibilities for digital marketing and holds the position of public relations director, leveraging his expertise to drive the organization's growth and reputation.

Huobi Project Development

Huobi offers a product called Huobi Earn, which enables users to store their virtual assets and benefit from continuous compound growth. This allows users to earn passive income on their idle assets easily and with potentially significant returns.

To cater to users' diverse financial needs, Huobi provides a range of products, each with its own features. These include deposit products, duel invest, staking & voting, and ETH 2.0. Recently, in March 2023, Huobi introduced a new feature called "Auto-Invest Your Balance" on Huobi Earn.

This new feature, designed to meet the evolving needs of users, allows for the automated allocation of spot assets into flexible products with just a single click. By utilizing this feature, users can effortlessly generate passive income while enjoying the benefits of flexible deposits and redemptions. It also ensures secure asset management, providing users with the opportunity to start earning returns immediately.

Huobi Price Analysis

As of November 24 2024 Huobi has a marketcap of $114M. This is {{percentagefromath}} from its all time high of $39.66. In terms of its tokenomics, there's a total supply of 201M with 79% currently outstanding. Keep in mind Huobi has a fully diluted value of $143M which many investors might interpret as overvalued.

Of course, don’t trust price predictions alone, always check the Coinrotator token screener to follow the trending market.