Introduction
The cryptocurrency exchange sector has witnessed a dramatic shift following Huobi's ownership change, marking one of the largest industry mergers during the ongoing bear market. Native token HT's remarkable 88% price surge within a week highlights renewed volatility in this competitive space.
HT's Spectacular Price Rally
- Current Status: $7.71 per HT (CoinGecko, October 18)
- Weekly Growth: From $4.10 on October 10 → 88% increase
- Market Impact: Nearly erased all bear market losses since early 2022
👉 Discover how major exchange tokens perform during market shifts
Understanding Exchange Tokens
| Token | Exchange | Market Cap (Rank) | Key Features |
|---|---|---|---|
| HT | Huobi | $1B (#53) | Trading fee discounts, Huobi ecosystem access |
| BNB | Binance | $45B (#5) | Binance Smart Chain, extensive utility |
| OKB | OKX | - | OKX ecosystem benefits |
Exchange tokens typically offer:
- Trading fee discounts
- Exclusive platform access
- Native blockchain networks
- Staking rewards
The Ownership Transition
Key Events Timeline
- October 8: About Capital completes Huobi Global acquisition
- October 10: First all-hands meeting with new leadership
- Following Week: HT begins sustained price rally
About Capital's Vision
The Hong Kong-based asset manager stated:
"We believe Huobi Global and the crypto asset industry remain in early stages with tremendous long-term growth potential."
Strategic plans include:
- Establishing Global Strategic Advisory Committee
- Injecting substantial risk reserve funds
- Accelerating global expansion
Justin Sun's Controversial Role
The Tron founder's appointment to Huobi's Global Advisory Committee sparked significant attention despite his denials of direct investment. His public statements emphasize:
- Focus on empowering HT ecosystem
- No plans for China market re-entry
- Personal HT holdings increased by "tens of millions"
👉 Learn about token economics in major exchanges
Market Response and Future Outlook
HT's price trajectory post-acquisition:
- Oct 10: $4.87 (+18.3% daily)
- Oct 12: $6.11 (+19.7% daily)
- Oct 13: $7.52 (+33.0% daily)
- Oct 14: Peaked at $8.00
Huobi reports:
- Current trading volume exceeding $60B
- Ongoing challenges from China market exit (~30% revenue loss)
- Continued asset withdrawal reminders for mainland users
FAQ: Huobi's Transformation
Q: Why did HT price surge after the acquisition?
A: Market optimism about new ownership's plans and Justin Sun's involvement drove demand.
Q: What changes will About Capital bring?
A: Expected to professionalize operations while expanding global presence and token utility.
Q: Is Huobi re-entering the Chinese market?
A: Leadership has explicitly denied this possibility.
Q: How does HT compare to BNB?
A: While similar in concept, BNB's $45B market cap dwarfs HT's $1B, reflecting Binance's dominant position.
Q: What risks remain for HT investors?
A: Regulatory uncertainties and exchange competition could impact future performance.
Q: How authentic are Justin Sun's claims about HT empowerment?
A: While public statements suggest commitment, actual implementation remains to be seen.
Conclusion
This ownership transition represents both challenge and opportunity for Huobi as it seeks to regain top-three exchange status. The HT token's performance will serve as a key indicator of market confidence in this new chapter.