1 Level
5 Review
1 Karma
Review on Huobi Token by Ryan Langler
The Huobi Token presents an exciting opportunity for large-scale traders like…
The Huobi Token presents an exciting opportunity for large-scale traders like whales and high-frequency operations to lower their expenses on Huobi. Huobi itself has stated that its VIP packages intentionally target institutional investors. Additionally, the vote for new listings functionality of the coin makes a compelling case for new tokens to prioritize buying HT. So far, the token seems to have seen gradual, steady adoption. If that trend continues, expect demand for the hard-capped supply of tokens to increase and take the token price higher along with it.
Pros
- From time to time, Huobi will use earnings from transaction fees to buy back Huobi Tokens. The goal of the seasonal buyback is two-fold. First, it encourages liquidity in the trading and price of HT and discourages hoarding of the tokens. Second, the repurchase replenishes the Huobi User Protection Fund with HT. Huobi administers the Protection Fund to guard against manipulative or fraudulent trading behavior and compensate losses in the case of an emergency.
Cons
- Focus on Asian markets – Huobi used to be entirely oriented towards China, even accepting Yuan deposits directly and offering trading against the local currency. The legal developments in the country forced them to change their strategy, but they are predominantly targeting Southeast Asia.
