In this guide, we will voice our own and market’s opinion on HT future while discussing Huobi Token price forecast for 2024 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 you'll learn 👉
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 cryptocurrency industry has faced increased regulation in 2023, with the SEC and Department of Justice pursuing legal action against major players. This crackdown signals the end of cryptocurrency unbridled early years, as traditional financial institutions enter the market and call for clearer rules. In 2024, significant regulatory clarity is expected. Several factors have fueled this crypto rebound last year. Most notably, Ripple Labs won a key legal victory against the SEC in June, leading to a short-lived price bounce. Renewed institutional interest has also provided a boost, with major firms like BlackRock pushing for Bitcoin ETF approval in late 2023. Bitcoin ETF approvals were done in early January 2024, setting a positive tone for the market. Analysts had predicted the SEC would decide on Bitcoin ETF applications between January 5th and 10th, 2024, potentially catalyzing industry growth. The approvals have been seen as a significant step towards mainstream acceptance and have sparked optimism among investors and traders alike. Now, attention is turning towards both pre and post-halving rallies, with the BTC halving scheduled for April 2024, which is expected to further boost Bitcoin, Ethereum, and the broader crypto market. Looking ahead, proposed 2024 changes like new accounting rules for crypto assets and less hawkish central bank policies could impact markets. Updated accounting standards may allow more corporate Bitcoin reserves. Meanwhile, forthcoming Treasury Department cryptocurrency tax guidelines, applying by 2025, could transform regulations around decentralized finance, NFTs, and digital wallets. ETF approvals have proven complex but present future investor opportunities if SEC concerns can be addressed. Bitcoin has more than doubled in 2023, with the recent Wall Street earthquake and upcoming halving expected to further boost Bitcoin, Ethereum, and the broader crypto market. By passing $50,000 for the first time since 2021, Bitcoin has climbed over 200% year-to-date. Ethereum has also grown following ETF approvals since now many anticipate ETH ETF approvals could be next. The majority of investors, traders, and crypto influencers are hopeful that the real crypto bull run will finally commence in late 2024, bolstered by the recent ETF approvals and anticipation of the upcoming Bitcoin halving event.
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 2024
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:$1.80
HT price in 2030 & 2040 should be a couple of orders of magnitude higher than our 2025 prediction.
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