In recent days, we have frequently heard the name Justin Sun and his exchanges in the world of cryptocurrencies. Just a few days ago, the team that announced the HTX DAO has now declared that a portion of the revenues from the Justin Sun-centered HTX exchange and TRON will be transferred to it. Today, a new announcement was made specifically about the Huobi exchange’s local token, the Huobi Token (HT), revealing an upcoming innovation.
Time for a Change in Huobi Token (HT)
It seems like a new era is approaching for Huobi, the exchange founded by TRON’s creator Justin Sun, which is one of the first names that come to mind when cryptocurrencies are mentioned. It has been announced that the exchange’s local token, the Huobi Token (HT), will be renamed to HTX following a decision.
The announcement was as follows:
Dear HTX Users,
HTX is excited to list HTX DAO ($HTX) and support the conversion from $HT to $HTX!
HTX DAO is an open and transparent, decentralized autonomous organization that holds the governance token of the HTX token, i.e., $HTX. As a token of appreciation for your years of support and contributions, HTX DAO is voluntarily offering a certain token allocation for HT holders who choose to exchange their $HT for $HTX.
Starting from 08:00 (UTC) on January 22, 2024, the service to convert $HT to $HTX will be provided. More assets and earlier conversion will reward you with a more favorable conversion rate. Please continue to follow us!
Following the recent announcement of an HTX DAO, the renaming of the token to HTX also leads to detailed scrutiny of whether Justin Sun and his team have bigger goals in mind for this particular DAO.
How Much is Huobi Token (HT) in Dollars?
Following this announcement, attention has turned to the price of the Huobi Token. The Huobi Token experienced a drop of about 5% from $1.8 to approximately $1.7 in a short period and is trading at $1.7112 at the time of writing. On the other hand, the RSI value lost the neutral level of 50 and fell to 29.21, which shows how dominant the sellers are.
Moreover, the overall volume and 24-hour trading volume of the altcoin have also seen significant declines. The overall volume fell to $310 million after a 10% drop, while the 24-hour trading volume was just under $23 million, a 25% decrease.