Huobi Token Price Prediction: Expert Opinion
Huobi token is the currency of the Huobi cryptocurrency exchange. Notably, Huobi exchange is one of the largest exchanges in the world with a massive user base. Let us discuss here the characteristic and the forecast for the huobi token price prediction.
Accordingly, this token rewards user for their loyalty as they can benefit from lower transaction fees. Moreover, users can also use it as a legitimate trading pair against popular currencies on the exchange and elsewhere. With these benefits, HT can bring greater value to the millions who use Huobi exchange. The user base is predominantly in Asia.
This coin is eerily similar to other exchange coins such as Binance coin (BNB). Such loyalty coins improve user experience and provide additional liquidity to the network. As the demand for HT grows, so will its price. At the moment, the BNB sits as one of the twenty largest cryptocurrencies.
Huobi Token Background
Huobi management made an announcement as to the intent to create a token on January 22, 2018. The plan was to distribute 300 million HT (60 percent of the total supply) to pro users over the course of 15 days. The users had to purchase the discounted service package. Therefore, the token distribution was not a quintessential ICO due to the nature of the offering. These measures are definitely an effort to navigate Chinese regulations on cryptocurrency which had seriously decimated Huobi trading volume.
The benefits of this coin include:
- Transaction Fee Discount- At the highest level, you can get up to 50% discount on transaction fees. This means that transacting using HT is economically beneficial.
- Liquidity buybacks- Huobi will use earnings from transaction fees for HT buybacks. This will encourage HT liquidity and discourage token hoarding.
- Early access and events- You can have preferential access and also survey and voting rights.
- Tradability against many established currencies- Possible due to the reputation of Huobi itself.
Huobi Token Price
When you compare Huobi price to most other cryptocurrencies, the fluctuation has been less pronounced. This relative stability in the face of turmoil is exemplary. Huobi price was around $5.80 in May but has since gradually lowered to about $1.28 at the time of writing.
Huobi Token Price Prediction
Given its resilience, it is unlikely that this coin will slump to oblivion any time soon. If the markets pick up slightly, the price should rise towards $1.5 by year’s close and possibly $1.8 by January 2019. For the calendar year 2019, making an accurate forecast is difficult but should markets hold their ground we can expect prices of at least $2 by years close. That said, these values are not 100 percent reliable on account of high level of cryptocurrency volatility. You should invest wisely and widely.
This caps off our Huobi Token Price Prediction. Let us know what you think.