Huobi Token (HT) Experiences a Flash Crash But Swiftly Recovers

Interesting price action was experienced in Huobi Token over the past 24 hours in which the digital currency, native to the Huobi Global exchange experienced a flash crash with its price dropping by as much as 93%. In what is considered a very rare event, the digital currency rebounded at almost the same rate within a short time.

Timeline of Huobi-token

Huobi Token (HT) has emerged at the center of insolvency rumors following a shocking performance on Thursday. Following the plunge in the general crypto market, Huobi Token took it a step further with a massive 90% drop in just a matter of minutes.

The Huobi exchange's native HT token flash crashed a few hours ago, losing more than 93% of its value. It quickly recovered from the incident, but its price is still 20% below pre-crash levels.

Justin Sun's Huobi Global is facing multiple challenges amid the alleged troubled financial health of the crypto exchange. In the major development, Huobi's South Korean arm, Huobi Korea has reportedly decided to cut itself from its parent firm.

The exchange token of the Huobi Global exchange, Houbi Token [HT] drastically lost about 9% of its value after the exchange witnessed massive outflows. According to the DeFiLlama, over $75 million left the shores of the Houbi platform in the last 24 hours.

Huobi Token (HT), a cryptocurrency trading exchange asset with an overall valuation of $868 million, recorded a significant uptick in its price after an announcement made by Justin Sun, the founder of the Tron blokchain. According to data from Coingecko, on November 29, the asset went up by 13% and peaked at $7.22 before entering a correction phase that made it return to the $6 territory.

The Huobi Token (HT) recorded 64% gains, rising from a local bottom of $3.70 on November 13 to a price of $6.06 at the time of press. The post Huobi Token continues run of strong form, up 64% since bottoming appeared first on CryptoSlate.

Leading crypto exchange Huobi Global has released a new order to restrict employees from trading with in-house data and bans using non-company accounts to engage in secondary market transactions.

Although most of the cryptocurrency industry is still feeling pain from the crisis induced by the liquidity crunch and scandals surrounding the crypto trading platform FTX, some digital assets are recording gains, including Huobi Token (HT).

A representative of the company has reportedly already spoken with Roosevelt Skerrit, the prime minister of Dominica, as the two parties want to work together to improve the nation's crypto infrastructure.

Days after Huobi Global announced the delisting of HUSD from its platform, the stablecoin has seen a decline in its price, leading to a significant slip in its $1 parity.  HUSD tanks by 23% in a day Data from CoinMarketCap revealed that the stablecoin has tanked by more than 20% over the last 24 hours.