{"id":616233,"date":"2023-03-09T20:01:00","date_gmt":"2023-03-10T02:01:00","guid":{"rendered":"https:\/\/news.sellorbuyhomefast.com\/index.php\/2023\/03\/09\/huobis-ht-token-suddenly-falls-93-then-rebounds-just-as-quickly\/"},"modified":"2023-03-09T20:01:00","modified_gmt":"2023-03-10T02:01:00","slug":"huobis-ht-token-suddenly-falls-93-then-rebounds-just-as-quickly","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2023\/03\/09\/huobis-ht-token-suddenly-falls-93-then-rebounds-just-as-quickly\/","title":{"rendered":"Huobi\u2019s HT Token Suddenly Falls 93%, Then Rebounds Just as Quickly"},"content":{"rendered":"
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Huobi\u2019s HT token, the native token of the cryptocurrency exchange, momentarily dropped 93% on Thursday for reasons that are unclear.<\/p>\n<\/div>\n

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And then it quickly rebounded.<\/p>\n<\/div>\n

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The token dropped from a 24-hour-high of $4.81 to a low of $0.31 at around 21:00 UTC on Huobi\u2019s exchange, according to TradingView\u2019s pricing source. Other exchanges saw a similar drop in price.<\/p>\n<\/div>\n

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Just before the crash, $2 million worth of sales were reported in the five minutes leading up to it, a researcher at Kaiko tweeted<\/a>. Normally, buys on the HT-USDT pair amount to about $600,000.<\/p>\n<\/div>\n

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At press time, the token had rebounded and was trading at $3.70 on Huobi. It is down about 24% over the past 24 hours.<\/p>\n<\/div>\n

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The wild price action was notable because HT is one of the larger cryptocurrencies, with a market capitalization of about $630 million (after the rebound). Crypto traders follow the token partly because Justin Sun, founder of the Tron blockchain, has disclosed that he\u2019s a big holder<\/a> \u2013 in addition to being a leader of the exchange\u2019s strategy.<\/p>\n<\/div>\n

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Sun, in a tweet, said the Huobi exchange’s operations are safe, as are its wallets and backend. In a second tweet, he apologized for the “leveraged liquidation on the market caused by a few users,” and said Huobi will create a $100 million fund to improve multi-currency liquidity.<\/p>\n<\/div>\n

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UPDATE (March 10, 2023 00:53 UTC):<\/b><\/i> Updates with Justin Sun comment in final two paragraphs.<\/i><\/p>\n<\/div>\n

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UPDATE (March 10, 2023 02:01 UTC): <\/b><\/i>Adds additional comment from Justin Sun. <\/i><\/p>\n<\/div>\n<\/div>\n

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Read More<\/a>
\n Helene Braun<\/p>\n","protected":false},"excerpt":{"rendered":"

Join the most important conversation in crypto and Web3 taking place in Austin, Texas, April 26-28. Helene is a U.S. markets reporter at CoinDesk, covering the US economy, the Fed, and bitcoin. She is a recent graduate of New York University’s business and economic reporting program. Join the most important conversation in crypto and Web3 […]<\/p>\n","protected":false},"author":1,"featured_media":616234,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[534,120127,22591],"tags":[],"class_list":["post-616233","post","type-post","status-publish","format-standard","has-post-thumbnail","category-financial","category-huobis","category-token"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/616233","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=616233"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/616233\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/616234"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=616233"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=616233"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=616233"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}