Dear Readers, 

In Recent times, the price of the HT, the native token of HTX exchange ( Formerly Huobi Exchange) coin was dumped so much.

In this article, we will be discussing on what is exactly happening in the HT token.

Oct 2022, Justin Sun- the founder of TRON bought the China based Crypto Exchange HUOBI.

Eventhough this period was not a good time for the Crypto market. This period was witnessed the FTX crash and the bottom down of BTC, the HT token price was pumped from 3.8 USD to 9 USD. Immediate after the purchase, the renaming of Huobi to HTX was postponed due to the not conductive environment at that time.

Around 100 million HT token was purchased by Justin Sun. With the inside market news that Justin Sun would be buying Huobi, everyone bought HT token. When Justin Sun wanted to sell, there was wide open sell from the other buyers as well and there was a dump in HT price. This made Justin Sun not happy.   

He announced that there were various HT free tokens were issued and it would be burned.

The previous owners of Huobi also announced that only the Exchange has been sold but not the Huobi name rights and they wanted to file a lawsuit against Justin Sun.  This time the HTX was trading at 0.33 USD.

At the time of writing this article HT is trading at 1.82 USD which is up over by 5% from yesterday. It stands at 157th rank according to its market capitalisation with the coinmarketcap website. 

There were some discussions on this with the previous Huobi owner sand Justin Sun and they agreed to go mutually.

To control the HT tokens and the whales, Justin Sun announced the voluntary conversion of HT to HTX token to make a control over the token. HT token is not only trading in HTX but other crypto exchanges as well. There were many whales kept the HT token in the private wallets. But to sweep the HT to HTX token needs to come to the HTX exchange where Justin may have a control over it.

The HTX token with a circulation supply of near 1 Trillion, only 10% is for the present HT holders.

The HT to HTX conversion window will be from today 22 Jan 2024. It is also announced that the earlier conversion holders would get the better conversion rate.

Though the conversion rates are not encouraging, we need to convert the present HT tokens to HTX token at this point of time.

Do a thorough study and keep the updates in mind friends!