In this guide, we will voice our own and market’s opinion on HT future while discussing Huobi Token price forecast for 2023 and beyond.
Please bear in mind that you should take this and any other prediction with a grain of salt since predicting anything is a thankless task, let alone predicting the future of a novel, highly volatile financial asset like Huobi Token.
Now, let’s head into it. Before we delve deep into the Huobi Token price prediction and answer questions if HT is a good investment or not, why will HT succeed or fail or why will Huobi Token price rise or drop, let’s quickly throw a glance at what is HT and its to date history.
What is Huobi Token
Huobi Token (HT) is the native cryptocurrency of Huobi Global exchange. It belongs to a group of cryptocurrencies often referred to as exchange tokens.
Huobi is a Singapore-based cryptocurrency exchange created in 2013 by former Oracle engineer Leon Li. Originally based in China, the Huobi Foundation expanded to Singapore, South Korea, and Japan following China’s 2017 Bitcoin trade ban. Huobi currently supports over 280 cryptocurrency markets, with over $350 billion worth of crypto tokens traded daily, making it the third-largest cryptocurrency exchange in the world.
Huobi Token Benefits
Huobi Token offers users several benefits. Many of these benefits are familiar from other exchange-originated tokens, like BNB. However, others are unique to HT, and are designed to drive liquidity, demand, and ultimately price.
- Users can use HT to purchase various levels of VIP status on the Huobi exchange.
- From time to time, Huobi will use earnings from transaction fees to buy back Huobi Tokens.
- Early access is a somewhat nebulous benefit, but it could prove extremely valuable. As part of the VIP subscription service, users may gain early access to assets that will trade on Huobi or special events.
- Huobi supports trading pairs for Tether, Ethereum, and Bitcoin right out of the box. One of the benefits of being an exchange-created cryptocurrency is immediate listing on the exchanges. The day that Huobi Token completed its token generation event, it listed on Huobi.
- One often overlooked but a possibly significant benefit of HT ownership is voting rights on exchange decisions, including new assets to be listed on the exchange.
The HT token distribution began on January 24 and wrapped up on February 7, 2018. Each day of the distribution, millions of tokens sold out in mere minutes after going on sale. At that point, 300 million HT had been distributed to Huobi Pro members who bought packages. That’s 60% of the total supply currently in public circulation.
Another 200 million HT, 40% of the total supply, was set aside. 20% goes toward user rewards and platform operation. The other 20% is vested for four years and constitutes the team reward.
HT Price Prediction For The Next 90 Days
The whole crypto world is on a verge of a complete breakdown. Bitcoin has fallen 75% from its all-time high amid broader market declines caused by raging inflation and US Fed rate hikes. When add the most recent melt-downs of huge industry players (FTX, Celsius, Luna etc) into the equation, the horizont is murky and there will be more blood on the streets of the crypto town. Investors are selling risky assets and moving into more stable markets. Crypto is still perceived as a very risky play and hence the sell off. Our algo still sees a some green in 2023, especially in the second part of the year. This is reflected in our 2023 predictions. Right now, Bitcoin needs to find a bottom before we can move in the opposite direction and reverse the trend. Once Bitcoin settles in the new price range, altcoins will start to do the same - we have witnessed this scenario dozens of times in the distant and more recent history. Our price prediction model is bearish for the next 90 days with a hint of a bull market at the turn of the quarters from Q1 to Q2. We expect whales and other bigger players in the market to finish filling their bags around that time which will cause a typical and sudden crypto spike. CaptainAltcoin team created a price prediction model with a multi-faceted approach to crypto that takes into account both technical analysis and fundamental assessment of each project. Fundamentals that we evaluate are team, tokenomics, use case, community, marketing efforts, liquidity and exchange availability, hype & speculative potential and some other proprietary factors developed in our crypto lab.
Below is a tabular overview of how will HT develop in the short-term (for the next 90 days), according to our prediction model:
Huobi Token Price Prediction 2023
Our prediction model sees a temporary switch to a bear market at the beginning of 2023 before we move onto another leg up in Q3 & Q4 of 2023.
HT Price Prediction 2025 – 2030 – 2040
Our prediction model sees HT reaching new highs in 2025:$ 4.66
HT price in 2030 & 2040 should be a couple of orders of magnitude higher than our 2025 prediction.
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CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of CaptainAltcoin.com