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This year has been a tough sail for Huobi since May 2022, when the Terra/Luna implosion caused a cascade of bankruptcies, layoffs, and liquidations. Subsequently, the chain of unfortunate market and geopolitical events like the Russian invasion of Ukraine, U.S. inflation, and 3AC and Celsius insolvency, has also contributed to the downward pressure on the price of HT.
With the recent massive downfall of the crypto market caused by FTX contagion, is it possible for Huobi to reclaim its all-time high in 2023? Continue with the article to learn about Huobi price analysis and prediction by Coinpaper.
Read also: Huobi-linked HUSD stablecoin depegs from USD
What is Huobi?
Huobi is a cryptocurrency exchange platform that was founded in China in 2013. It has since expanded to serve users in over 130 countries and has become one of the largest cryptocurrency exchanges in the world by trading volume. The Huobi Token (HT) is the native cryptocurrency of the Huobi exchange. It was launched in January 2018 and is an ERC-20 token built on the Ethereum blockchain. The main utility of the HT token is to provide users with various benefits on the Huobi platform. Some of the key benefits of holding HT tokens include trading fee discounts, VIP plans, the right to vote on platform changes, and early access to exclusive events.
Huobi (HT) price
Currently, Huobi Price is USD. HT has a circulating supply of coins and a total supply of . If you are looking to buy or sell Huobi, Uniswap is currently the most active exchange.
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Huobi price prediction 2023
The current market sentiment is full of fear, uncertainty, and doubt (commonly known by the acronym FUD), as fears of FTX contagion mount. At the moment, it’s difficult to assess exactly how much damage has FTX collapse has done to the crypto industry, since some affected crypto companies may be already secretly insolvent due to highly leveraged positions, as we have seen in the aftermath of Terra's implosion.
According to our estimates, it will take months for the full scale of FTX bankruptcy to become clear, so the turning point for the crypto market won’t come before late Q1 to early Q2 2023, although for now, it seems that the industry has absorbed most of the damage.
Another market factor that should be taken into consideration is how successful will be the U.S. Federal Reserve’s efforts to curb inflation. For now, there is reason to believe that Fed is making some progress in its attempts to cool the overheating economy — on November 30, Federal Reserve Chair Jerome Powell announced it’s time to slow the pace of coming rate hikes, which immediately triggered a positive reaction from both crypto and equity markets.
Given the above information, one can easily guess that there will be a considerable divergence between bullish and bearish Huobi 2023 price predictions due to multiple unknown factors. For this reason, we estimate that the bullish scenario will see Huobi price at $6.34 to $7.17. On the flip side, a fading interest in the new meme coin may push the price of Huobi to $3.45-$2.72 lows.
Huobi price prediction 2024
In 2024, the global macroeconomic backdrop is likely to be more favorable to the crypto market, adding value to Huobi (HT) and other cryptos. However, the possibility of black swan events similar to the collapse of FTX cannot be completely ignored.
Keeping this in mind, we foresee the price of Huobi to climb as high as $9.15, with the more distant prospect of reaching $13.85 in 2024. The bearish scenario is likely to see Huobi (HT) trading between $7.25 and $6.92 in 2024.
Huobi price prediction 2025
Since it’s practically impossible to foresee what market factors will influence cryptocurrency prices in 2025, this part of our Huobi (HT) price analysis and prediction is based on pure speculation and observation of Huobi historical price movements.
Our Huobi 2025 price forecast expects HT to rally towards $16.98 and reach $21.25 by the end of the year. The bearish scenario would see Huobi at $15.38 to $13.28.
Huobi (HT) price prediction 2026
Looking ahead four years, to 2026, Coinpaper's price prediction for Huobi is neutral. In 2026, we expect Huobi to reach at least $24.85 before climbing higher to $28.12. In case of a bearish scenario, Huobi may fall to $18.58.
Is Huobi (HT) a good investment?
Whether Huobi token is a good investment for your portfolio, depends on your risk profile and how much you intend to invest, among other factors. For now, given the regulatory crackdown on crypto and troubles at Silvergate Bank, it looks like crypto exchanges’ native tokens may not be the best investment at the moment. If you decide that HT suits your investment objectives, make sure you conduct a thorough research, read the whitepaper, and keep in touch with the community.
Bottom line
Are you ready to invest in Huobi? Very few if any analysts forecast its value going down to zero, although you can’t be sure these days, so make sure you always do your own research before making investment decisions. And keep in mind that cryptocurrency prices can be extremely volatile, so trading crypto always involves a high degree of risk.
You can buy HT from many crypto exchanges, including Uniswap
Disclaimer: Coinpaper does not recommend that any cryptocurrency should be bought, sold, or held by you. Always conduct your own research and consult your financial advisor before investing in any digital asset.
FAQs
Who created Huobi?
Huobi was founded by Leon Li in China in 2013. Prior to founding Huobi, Li worked as a computer engineer at Oracle and later became a technical expert at an internet security company. In 2017, he was named one of Forbes' "30 under 30" entrepreneurs in China.
What was the all-time high for Huobi (HT) ?
The all-time high price of Huobi is $ on 2021-05-12
