What is Huobi Token (HT) and Its Rise

Key Takeaways:

• Huobi Global saw an increase of over 60% in trading volume and an 80% surge in the Huobi Token price in October 2022.

• About Capital Management acquired Huobi Global to boost its global expansion efforts and Huobi Global appointed an advisory board. 

• Huobi Token is the native token of Huobi Global, providing exclusive benefits like trading fees, margin discounts, and access to some trading activities.

Huobi Global is a centralized cryptocurrency exchange established in 2013 (a long time ago by crypto standards), with a relatively good reputation and an extensive user base in Asia. Based on data from CoinGecko at the time of writing, it is 8th by 24 hour volume and there are currently 656 coins and 982 trading pairs available on the exchange. What makes Huobi Global so interesting though, is that it saw an increase of over 60% in trading volume between the 13 and 14 of October 2022.  

This article takes a deep dive into Huobi Global, its recent change of leadership, the Huobi token (HT), the rise in the value of HT, and Huobi Tokenomics. 

What is Huobi Global? 

Established in 2013, Huobi Global is a leading digital economy firm with a mission to bring blockchain technology into the mainstream by integrating it with other industries. It has expanded into the blockchain industry, public chain, cryptocurrency trading and wallet, digital economy research, and more. Huobi Global is licensed for cryptocurrency services in several countries and jurisdictions, including Seychelles, Japan, Singapore, and South Korea. 

To get an idea of how Huobi grew, these are some of the key Huobi Global milestones:

2013

Huobi Global was formed in September.

2014

In April, Huobi Global emerged as the world’s biggest cryptocurrency trading marketplace, hitting daily trading volumes of more than $20 billion. 

2017

In October, Huobi Global started its globalization campaign by launching Huobi Korea.

2018

In April, together with almost 20 institutions, Huobi China created the first “Grading Evaluation Specification for Blockchain and Distributed Ledger Information System” in China.

In August, Huobi Global bought Pantronics Holdings Ltd and renamed it Huobi Technology.

In September, Huobi Japan secured an exchange license (No. 00007). In the same month, Huobi China created its headquarters. 

In December, Huobi received Gibraltar’s DLT license in Europe.

2019

In January, the Danal Group funded Huobi and helped it to pass the 1SO27001 certification in September of the same year.

In June, The Blockchain Branch of China Software Industry Association (CSIA), Huobi China, CC Capital, and other establishments launched the Blockchain Information Disclosure Trustworthy Alliance. 

In December, Huobi Global commenced the world’s first ministerial blockchain forum – The Hainan Digital Economy and Blockchain International Cooperation Forum.

2020

In March, Huobi Global partnered with BGIM, a global blockchain non-profit organization.

In June, Huobi Charity emerged as the top Chinese charitable organization and was conferred the honor “Annual Charity Role Model.”

In June, Huobi China signed a strategic agreement with the Chongqing Yubei district government to steer the development of Chongqing’s blockchain ecosystem. 

2021

In January, Huobi Korea received the Information Security Management System Certification (ISMS) from the Korea Internet and Security Agency.

2022

In October, About Capital Management – a Hong Kong asset management company- took over Huobi Global by acquiring the founders’ whole stake