{"id":18550,"date":"2023-03-10T10:11:22","date_gmt":"2023-03-10T10:11:22","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/ht-huobis-native-token-price-crashed-by-90-on-thursday-heres-why\/"},"modified":"2023-03-10T10:11:22","modified_gmt":"2023-03-10T10:11:22","slug":"ht-huobis-native-token-price-crashed-by-90-on-thursday-heres-why","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/ht-huobis-native-token-price-crashed-by-90-on-thursday-heres-why\/","title":{"rendered":"HT, Huobi&#8217;s native token, price crashed by 90% on Thursday: here&#8217;s why"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/1970\/01\/1678440635921-c0bfb350-7a11-4319-a699-100964a96e30-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/1970\/01\/1678440635921-c0bfb350-7a11-4319-a699-100964a96e30-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/1970\/01\/1678440635921-c0bfb350-7a11-4319-a699-100964a96e30-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/1970\/01\/1678440635921-c0bfb350-7a11-4319-a699-100964a96e30-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul class=\"decimal_type\">\n<li>$2 million HT tokens were sold on Huobi prior to the crash.<\/li>\n<li>HT price momentarily dropped from $4.6 to $0.31.<\/li>\n<li>Tron\u2019s founder Justin Sun is the largest holder of HT tokens.<\/li>\n<\/ul>\n<p><a href=\"https:\/\/coinjournal.net\/huobi-token\/\">HT, the native token of Huobi Exchange<\/a>, crashed by over 90% on Thursday dropping to $0.31 from $4.6 in just 10 minutes.<\/p>\n<p>Although the price has since recovered, the token was trading at $3.81,\u00a021% down in the past 24 hours at press time.<\/p>\n<h2>What caused the brief HT price drop?<\/h2>\n<p>According to <a href=\"https:\/\/twitter.com\/riyad_carey\/status\/1633959091381870595\">transaction data<\/a> from Kaiko\u2019s research analyst, Riyad Carey, more than $2 million HT tokens were sold on Huobi in the minutes leading to the HT crash. Justin Sun was also reported to have moved $60 million in USDT from Huobi to Aave.<\/p>\n<p>Interestingly, Tron\u2019s founder Justin Sun is the largest holder of HT tokens and serves as an advisor to the Huobi crypto exchange.<\/p>\n<p>In the same period when HT price dropped by 90%, Tron\u2019s token, <a href=\"https:\/\/coinjournal.net\/tron\/\">TRX price<\/a> dropped by 12% from $0.057 to $0.066.<\/p>\n<p>Commenting on the spontaneous price plunge Justin Sun said:<\/p>\n<p><em>\u201cFew users triggering a cascade of forced liquidations in the spot and HT contract markets\u2026 We will continue to improve the liquidity depth of main cryptocurrencies and HT token, strengthen leverage risk warnings and liquidity capabilities.\u201d<\/em><\/p>\n<p>Sun also dismissed the price drop as a normal market occurrence and assured the Huobi community that Huobi operations are safe. He also said that he will create a $100 million liquidity fund for those impacted by the leveraged liquidation. He actually <a href=\"https:\/\/twitter.com\/justinsuntron\/status\/1634033317241602048\">confirmed via Twitter<\/a> that he has transferred $100 million in USDC stablecoin to Huobi.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><a href=\"https:\/\/coinjournal.net\/news\/ht-huobis-native-token-price-crashed-by-90-on-thursday-heres-why\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News ) $2 million HT tokens were sold on Huobi prior to the crash. HT price momentarily dropped from $4.6 to $0.31. Tron\u2019s founder Justin Sun is the largest holder of HT tokens. HT, the native token of Huobi Exchange, crashed by over 90% on [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":18551,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/18550"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=18550"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/18550\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/18551"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=18550"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=18550"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=18550"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}