Huobi In-depth Report Generated by AI - For further details, please review:

https://sosovalue.com/coins/huobi

1)What is huobi (HT)?

Huobi Token (HT) is the native token of the cryptocurrency exchange known as Huobi. Here's a detailed overview based on the latest information:

Latest Introduction: As of recent reports, Huobi Token (HT) experienced a significant surge of 25%, reaching a five-month high of $2.95. This increase was attributed to a rapid rise in its trading volume

Current Price and Market Data: The current price of Huobi Token fluctuates around $2.84 to $2.94, with a notable trading volume. For example, one source cites a 24-hour trading volume of over $20 million. The circulating supply of HT is approximately 160 to 162 million tokens, contributing to a market capitalization nearing $469 million

Simple Description: Huobi Token is essentially a digital asset tied to the Huobi exchange. It is utilized within the Huobi ecosystem for various purposes, including reduced transaction fees, convenient exchange operations, and participation in new token promotions. HT holders also benefit from an investor protection program and have a say in decision-making processes related to the exchange

Concise Overview: Huobi Token is a utility token for the Huobi exchange, offering multiple benefits to its holders. It has a limited total supply of 500 million tokens, with about 60% distributed among users and the exchange retaining the remaining 40%. The token's recent price surge and active trading volume signify its dynamic role in the cryptocurrency market

2)Which sector does huobi (HT) belong to?

Huobi Token (HT) belongs to the centralized exchange (CEX) sector within the blockchain field. Huobi Global, the platform associated with HT, is a centralized cryptocurrency exchange established in 2013. It is renowned for its significant user base, particularly in Asia. HT itself is an exchange token, primarily used within the Huobi ecosystem for various benefits such as trading fee discounts and participation in new token listings. The token has a burning mechanism, where a portion of the tokens is regularly repurchased and destroyed, affecting its supply and potentially its value. Huobi Token (HT) is part of the centralized exchange (CEX) sector in the blockchain field. Centralized exchanges like Huobi act as intermediaries in cryptocurrency transactions, providing a platform for the buying and selling of digital assets. These platforms, including well-known ones like Coinbase, Binance, and Kraken, are regulated entities that offer security, liquidity, and convenience for users. They also serve as one of the primary ways to trade fiat currencies for cryptocurrencies. However, CEXs have faced challenges such as security breaches and the abuse of user trust, as highlighted by events like the collapse of FTX. The current situation of the CEX sector is evolving amidst competition from decentralized exchanges (DEXs). DEXs offer advantages like decentralization, reduced risk of high-profile hacks, and user control over cryptocurrencies. Despite these benefits, DEXs face their own set of challenges, including scalability issues, limited liquidity, and security concerns. Scalability problems arise due to reliance on blockchain protocols like Ethereum, which can suffer from network congestion and high transaction fees. Limited liquidity in DEXs can result in higher trading costs, especially for less popular tokens. Looking at the development prospects, decentralized elements are increasingly being integrated into the CEX model. Platforms like UniswapX represent a significant shift in the DeFi sector, offering solutions that address the liquidity and transaction cost issues faced by traditional DEXs. This approach enhances the user experience by combining liquidity from both AMMs and off-chain sources. However, these DEX interfaces and aggregators still exhibit some centralized characteristics, such as the ability to delist tokens or ban wallets, which may raise concerns among some users. Despite these challenges, the integration of DEX features into CEX platforms could significantly shape the future of digital asset trading. In summary, the CEX sector, represented by tokens like HT, continues to play a significant role in the blockchain field. While facing competition from DEXs, CEXs are adapting by integrating decentralized features to enhance user experience and address the challenges of liquidity and trading costs. The future of this sector will likely involve a blend of centralized and decentralized elements, with platforms evolving to meet the diverse needs of the cryptocurrency market.

3)What is tokenomics of huobi (includes allocation and supply schedule)?

The tokenomics of Huobi Token (HT) are characterized by its distribution, supply schedule, and mechanisms to manage its supply:

Initial Distribution and Allocation: HT was first issued in 2018 and initially distributed through a reward program where users of the Huobi exchange received free tokens. The total supply of HT is capped at 500 million tokens. Of this total, 300 million HT (60% of the total supply) were distributed to Huobi Pro members who purchased service packages during the initial distribution phase, which occurred from January 24 to February 7, 2018. The remaining 200 million HT (40% of the total supply) were allocated for other purposes: 20% towards user rewards and platform operation, and the other 20% was vested for four years as team rewards

Token Burning Mechanism: Huobi has a token-burning mechanism to manage the supply of HT. This process involves the platform repurchasing and destroying a portion of HT tokens from circulation. Specifically, 20% of Huobi's monthly earnings are used for this purpose, with 15% of the revenues allocated to burning tokens from circulation and the remaining 5% used to burn HT team incentive rewards. This burning mechanism is intended to reduce the amount of HT in circulation, making HT a dis-inflationary token and potentially boosting its value by affecting market demand and supply dynamics

Current Circulation and Supply Management: The circulating supply of HT has been managed over time through these burning mechanisms. For instance, Huobi decided to burn all undistributed 97,342,300 HT originally allocated for platform operations and 50,075,600 HT arising from the first and second-quarter 2018 HT repurchase exercise and other HT platform revenue allocated to the Investor Protection Fund. As a result, the total HT burned from these events was 147,417,900 HT. Following this, the total supply of HT remained at 500,000,000, with a remaining total supply of 306,744,400 HT and 239,398,600 HT in circulation

4)What about the team and the investors of huobi?

The team behind Huobi (HT) and its key individuals include:

Jun Du: He is the founder of Huobi Global

Leon Li: Serving as the CEO, Leon Li is a prominent figure in the management of Huobi. Other key executives include Raymond Shen, the Technical VP, and Jianzhong Lan, the VP Huobi's funding history is marked by significant investments and strategic moves:

Early Investments: In November 2013, Huobi received angel investments from Dai Zhikang and Zhen Fund. This early support was crucial for the initial development and growth of Huobi

Venture Capital Funding: In 2014, Huobi raised a significant $10 million venture capital investment from Sequoia Capital. This substantial funding underlined the confidence investors had in Huobi's potential in the rapidly evolving cryptocurrency market

Acquisitions and Public Listing: In August 2014, Huobi acquired the Bitcoin wallet provider Quick Wallet. Further expanding its operations, Huobi became a publicly listed Hong Kong company in August 2018. This was a major milestone, marking its evolution from a startup to a publicly recognized company

Reverse Takeover in 2018: In a strategic move, Huobi executed a reverse takeover in August 2018, acquiring a 74% stake in the Hong Kong electronics manufacturer Pantronics Holdings. This maneuver allowed Huobi to become listed on the Hong Kong Stock Exchange, a significant step in enhancing its corporate legitimacy and visibility in the financial markets

5)What is the development history of huobi?

List all important events and milestones in the development process of huobi.

2013: Huobi was established in September.

2014: Huobi Global became the world's largest cryptocurrency trading platform in April with daily trading volumes of over $20 billion.

2017: Huobi Global launched its globalization drive with the introduction of Huobi Korea in October.

2018: Huobi China developed the first “Grading Evaluation Specification for Blockchain and Distributed Ledger Information System” in April. The same year, Huobi became a publicly listed Hong Kong company.

2019: The Danal Group began funding Huobi in January and helped it obtain ISO27001 accreditation in September.

2020: Huobi Global teamed with BGIM, a global non-profit blockchain group, in March.

2021: Huobi Korea received the Information Security Management System Certification (ISMS) in January from the Korea Internet and Security Agency.

2022: About Capital Management, a Hong Kong asset management company, acquired Huobi Global in October by purchasing the owner’s entire stake.

6)What is the progress and future roadmap of it?

Rebranding: Huobi Global has rebranded to "Huobi" and later to “HTX.” This rebranding is part of its vision to position itself among the top three cryptocurrency exchanges in the industry.

Expansion Plans: HTX is focusing on global expansion, with particular interest in developing a robust presence in the Caribbean and investment plans for Europe and Southeast Asia.

Strategic Focus: Huobi will concentrate on the development and support of cutting-edge assets with high market potential. They also plan to protect early-stage ventures in a competitive and challenging environment.

Compliance and Regulatory Adaptation: As part of its global expansion strategy, Huobi is working to build a compliance model that meets the requirements of different regions.

Project Development: Huobi has launched the Huobi Chain Project (HCP) and the Huobi Chain Superhero Championship Program (HCSCP), backed with 20 million Huobi Tokens (HT), roughly $100 million. The aim is to create a decentralized financial platform.

7)List all important links related to it

HTX Official Website: https://m.htx.com/en-us/

Huobi Official Website: https://www.huobi.com/

Huobi Global AWS: https://global-aws.huobi.com/en-us/

Huobi Status Page: https://status.huobigroup.com/

HTX Official Verification Channel: https://global-akm.huobi.com/en-us/verification/

8)Bullishness index for this token from the perspective of token valuation and future potential from Chatgpt 4

As of recent data, the live price of Huobi Token is around $2.84 to $2.95, with a 24-hour trading volume of approximately $5,575,428.39 to $11,777,985 USD. The token has experienced a significant surge, recently increasing by 25% to a five-month high of $2.95, partly due to a rapid increase in trading volume. The circulating supply of HT is reported to be around 159.41M to 162.23M HT coins, with a market capitalization ranking of 113. In terms of future prospects, expert analyses and predictions vary greatly. Some forecasts indicate a potential rise in HT's value, predicting it could reach $3.10 to $3.12 by November 26, 2023. Further predictions for December 2023 suggest a price range from $2.77 to $3.02, with potential ROI of 7.1%. Other sources are more optimistic, with predictions for the end of 2023 ranging from $4.817 to $6.64, and even higher forecasts for subsequent years. For instance, 2024 predictions range from $5.31 to $7.64, and by 2030, the price could potentially rise to between $20.43 and $29.41. However, not all predictions are positive. Some experts forecast a long-term decrease, with a possible price of $0.781 by the end of 2023. Others predict significant growth, with possible prices around $64.528 within the next five years.