Huobi’s HT Token Suddenly Falls 90%, Justin Sun Takes Emergency Measures
Huobi’s native token fell over 90% in a flash crash during Thursday trading.Huobi Token (HT) is the native cryptocurrency of the 17th biggest cryptocurrency exchange, Huobi Global. It was launched in January 2018 and is built on the Ethereum blockchain. The token is used to cut trading fees, acquire VIP status plans, vote on exchange decisions, and collect cryptocurrency incentives.
According to a TradingView value source, the coin plummeted from a 24-hour high of $4.8 to a low of $0.3 at 21:00 UTC on Huobi’s market. The token then immediately rebounded to about $3.9. Similar price decreases were seen on other exchanges. A crypto Twitter user saw a drop in the price of HT tokens due to the selling of $2 million worth of HT tokens in 5 minutes. The purchase amount on the HT-USDT pair, on the other hand, is just approximately $600,000. Almost $200 million of HT’s market value was lost in one hour, only to be recovered by more than 1000% minutes later.
Source
https://t.me/Bitcoin_NewsTg
