Huobi Token Price Prediction 2024: What Next Now HT is HTX?

Key Takeaways

• The Huobi crypto exchange’s HTX token has struggled lately.
• Huobi launched a refreshed branding strategy in September 2023, where “Huobi” has been rebranded as “HTX”.
• One price prediction says it may reach.

Huobi unveiled its refreshed branding strategy in September 2023. Under this new chapter, “Huobi” evolved into “HTX.”

The “H” embodies the company’s esteemed legacy as Huobi, while the “T” signifies its unwavering dedication to the TRON ecosystem, solidifying its commitment to driving growth and inclusivity within the TRON community. As for the “X,” it epitomizes the essence of exchange, where value and opportunity converge.

Huobi did not immediately respond to a request for comment.

But what is Huobi (HT)? How does Huobi work? Let’s see what we can find out, and also take a look at some of the Huobi Price Predictions that were being made as of February 23, 2024.

Huobi Price Prediction

With that all said and done, let’s examine some of the Huobi price predictions being made on February 23, 2024. It is crucial to bear in mind that price forecasts, particularly for a potentially volatile asset like cryptocurrency, often turn out to be inaccurate. Additionally, please remember that many long-term crypto price predictions are generated using algorithms, which means they can change at any time.

First, CoinCodex had a short-term Huobi price prediction which said that the token would be somewhat volatile in the coming weeks, with it dropping to $1.042871 by February 28 and reaching $0.961574 by March 24. The site’s technical analysis was bearish, with 25 indicators sending discouraging signals and eight making bullish ones.

Huobi Forecast for 2024

Moving on to other Huobi price predictions for 2024, DigitalCoinPrice said the token would reach $2.40. Bitnation said it would be worth $2.90. PricePrediction.net thought that HTX would trade at $2.22 this year. 

Huobi Forecast for 2025

Bitnation made a Huobi price prediction for 2025 that said the token would trade at $3.94. PricePrediction.net thought the crypto could reach $3.21. DigitalCoinPrice argued that HTX would stand at $2.77 next year.

Huobi Forecast for 2030

Looking at a more long-term Huobi price prediction for 2030, PricePrediction.net said the crypto would reach $21.50. DigitalCoinPrice said it would stand at $8.16. Bitnation had an HTX price prediction that saw it trade at $9.12 at the start of the next decade. 

Google Gemini AI Price Prediction for Huobi (as of February 23)

Google’s Gemini AI platform gave the following price prediction for Huobi on February 23. Please remember that the exact price prediction of an asset or cryptocurrency in the future is nearly impossible to achieve. Additionally, artificial intelligent price predictions are predicated on past performances and are in no way entirely accurate.

Short Term (Next 3 months)

• Expected price: $1.126

• Factors to Consider:
  • Overall market trends: The cryptocurrency market is volatile and can be influenced by various factors, such as regulatory changes, economic news, and adoption rates.
  • Huobi’s performance: The success of Huobi’s exchange and other ventures could impact the price of HTX.
  • Competition: HTX faces competition from other exchange tokens and utility tokens.

Medium Term (Next 6 months)

• Expected price: $14.88

• Factors to Consider:
  • Overall market sentiment: The general sentiment towards the cryptocurrency market will significantly impact HTX’s price. If the market experiences a bullish run, HTX could rise along with other coins.
  • Huobi’s performance: The success of Huobi’s exchange and other ventures could positively impact HTX’s price.
  • Regulations: Regulatory changes could affect the cryptocurrency market as a whole and HTX specifically.
  • Competition: HTX faces competition from other exchange tokens and utility tokens.

Long Term (Next 5 years)

• Expected price: $22.63

• Factors to Consider:
  • Overall performance of the cryptocurrency market: If the cryptocurrency market continues to grow, HTX is likely to benefit. However, if the market crashes, HTX could also fall significantly.
  • Adoption and use of Huobi Global: Huobi Global is a major cryptocurrency exchange. If the exchange continues to grow in popularity, it could boost the demand for HTX.
  • Development of the Huobi ecosystem: Huobi is developing a number of new products and services, such as DeFi and NFT platforms. If these are successful, they could also increase demand for HTX.
  • Regulatory environment: The regulatory environment for cryptocurrencies is constantly evolving. If regulations become more restrictive, it could dampen demand for HTX.

HT Price History

Now, let’s examine the Huobi price history . While we should never take past performance as an indicator of future results, knowing what the token has achieved can provide us with some very useful context if we want to make or interpret a Huobi price prediction.

HTX was launched in 2018, when it was worth about $1.20. It hovered between that level and $5 for much of the next few years. Huobi responded well to the crypto market entering a bull cycle in early 2021, and it hit an all-time high of $39.81 on May 12 that year. After that, though, it fell and closed 2021 at $9.37.

2022 was a poor year for crypto, and HTX suffered during the 12 months, although not as badly as it could have done. A series of market crashes saw it close the year at $5.01. While an annual decline of around 45% was bad, in comparison to the crypto markets loss of more than 60% over the course of the year, HTX was one of the better performing tokens. 

Huobi in 2023 and 2024

2023 was not a good year for the Huobi token. Although it reached a peak of $6.84 on February 20, it then fell down again. The news that the United States Securities and Exchange Commission (SEC) was suing the Binance and Coinbase exchanges dealt it a blow.

On June 10, Crypto.com’s announcement that it was suspending its U.S. institutional operations saw it drop to $2.58. In the months since then, it has barely moved and, on August 11, 2023, it was worth about $2.60. It then ended the year at $2.6309, before decreasing in early 2024, reaching $1.05 on February 23, 2024.

At that time, there were 162.2 million HTX in circulation, out of a total supply of 204 million. This gave the token a market cap of around $173.8 million, making it the289th largest crypto by that metric.  

Is Huobi a Good Investment?

It is hard to say. HTX has not been able to recover from the crash of June 2023 as well as some other cryptos, and the recent news about withdrawals from the platform, coupled with regulatory concerns, do not help matters.

On the other hand, the exchange’s upcoming listing of PYUSD suggests that the network does have plans for the future. 

As ever with crypto, you will need to make sure you do your own research before deciding whether or not to invest in HTX.

Will Huobi go up or down?

No one can really tell right now. While the Huobi crypto price predictions are largely positive, price predictions have a well-earned reputation for being wrong. Keep in mind, too, that prices can, and do, go down as well as up. 

Should I invest in Huobi?

Before you decide whether or not to invest in Huobi, you will have to do your own research, not only on HTX, but on other, related, coins and tokens such as Binance (BNB). Either way, you will also need to make sure that you never invest more money than you can afford to lose.

Huobi (HT) Explained

Hong Kong-based Huobi is one of the major players in the Centralized Exchange (CEX) market. 

Founded by crypto trader Leon Li in 2013, the platform allows people to buy, sell, and trade cryptocurrency. 

The system is supported by its native Huobi token, known by the ticker handle HTX.

How Huobi Works

People who hold the Huobi token can vote on changes to the network. They also receive discounts on trading fees and can stake, or set aside, the crypto in order to access new tokens.

People can also buy, sell, and trade HTX on exchanges. 

Because Huobi is, ultimately, based on the Ethereum (ETH) blockchain, HT is a token, rather than a coin. You might see references to such things as Huobi coin price predictions, but these are wrong.

Huobi Attention Tracker

Here is a chart for the Huobi Google search volume for the past 90 days. This represents how many times the term “Huobi HTX” has been Googled over the previous 90 days.

FAQs 

Disclaimer 

Please note that the contents of this article are not financial or investing advice. The information provided in this article is the author’s opinion only and should not be considered as offering trading or investing recommendations. We do not make any warranties about the completeness, reliability and accuracy of this information. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor, trader, or regular crypto users should research multiple viewpoints and be familiar with all local regulations before committing to an investment.