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 spite of the news that Huobi has dissolved a corporate entity based in Beijing after the Chinese government’s most recent crackdown on crypto-related business activities. The news seems to have had an inverse effect on the price of HT, demonstrating once again crypto’s apparent antifragility.
To find out where to buy Huobi Token, continue reading. You’ll also find more information on Huobi and the fundamentals of its token.
How & where to buy Huobi Token in the UK and elsewhere
Huobi Token is widely available from many of the most popular exchanges and brokers, and is just outside the top 50 coins by market cap. To capitalise on HT’s present rally, you’ll need to purchase some tokens. Sign up with one of our recommendations from the list below and make a deposit to start trading today.
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What is Huobi and why is HT rallying?
Huobi is one of the largest cryptocurrency exchanges in the world. Originally founded in Beijing, China by Leon Li, Huobi now operates across the world through its Huobi Global brand. Despite China’s persistent attempts to restrict cryptocurrency trading activities within its borders, Huobi reportedly processes more than $1 billion in trades per day.
Huobi Token offers Huobi users reduced transaction fees, and even allows users to buy VIP status on the exchange. Holders can also vote on governance proposals, and receive rewards during buyback programs. HT’s value is inextricably linked to the performance and reputation of Huobi itself, but future developments could also have an effect.
Should I buy HT today?
Huobi Token is picking up steam, and has rallied by nearly 50% this week. A 15% daily surge shows strength too, particularly in light of the fear, uncertainty, and doubt (FUD) around China’s crypto crackdown.
Should Huobi continue to grow in popularity around the world, it follows that HT would probably increase in value. Furthermore, rival exchange Binance’s Binance Coin (BNB) began life as a utility token like HT, and has now blossomed into the fastest growing decentralised finance (DeFi) ecosystem on the market. Should HT implement innovative features as BNB did, its current price of $11.11 could seem like a bargain in years to come.