The world of digital assets has been fast evolving in the past decade although regulations have been an issue in prominent jurisdictions like the USA. However, this has not hindered projects like Huobi Token (HT) which is Asian based to take this arena to the next level. The team is currently making moves to launch a Chinese-South Korean crypto investment fund.
Huobi Token has made two significant collaborations for this purpose with Kiwoom Securities & NewMargin Capital which is China & South Korea based respectively. The target mark for the fundraising of this milestone is set at 100 billion Korean Won. This likely to be achieved faster than expected since other players like the South Korea development bank & Industrial bank of Korea have joined as limited partners.
Independent players in the services sector like the Mirae Asset Financial Group have also demonstrated their faith in this project by joining in Huobi’s vision. Huobi token users in the USA will also not be left out since the team is making plans to launch a sub-division in San Francisco.
The Huobi 10 Index
Huobi Token seems to be moving fast into the world of making profits off crypto trades. They recently launched an Exchange Traded Fund basing the performance on Huobi 10 index. It constitutes of the top 10 altcoins in market cap hence a high level of liquidity within the network. Huobi believes that the ETF will be like a weather vane that signals the performance of digital assets in various coin markets.
So, the question is which coins qualify to be included in Huobi’s index? The first category is any altcoin that is can be exchanged for the USDT on Huobi Pro. Blockchain based assets have been an issue of debate especially when it comes to regulations on ICO’s and trading, Huobi index will include coin, platform, asset tokens & application altcoins in this index. Here is an explanation that will help understand these categories better;
- Coin – This indicates cryptocurrencies used for transaction purposes like the BTC.
- Platform – The likes of Ethereum whose framework supports a couple of coins in the market.
- Applications – These coins that are used to support the features of a blockchain platform for smooth running.
- Asset tokens – A good example is the USDT which is linked to a real world asset, can be currencies or assets like gold.
This ETF comes as a convenience to both retail and institutional investors within the crypto arena mainly because of the variable options the investment basket comes with. However, the services within this project are not available to residents in the USA due to regulation issues that are yet to be clarified.
HT Price Analysis
Huobi tokens have been significantly bullish in the past month gaining 84% in its price despite the volatile nature of cryptocurrencies. An investor would have to part with $5.19 or 0.000675 BTC for one HT token as of press date. It is among the top 70 coins in market cap with the value well over the $250 million mark. The past 24 hours have been good for the coin as users transacted a volume of HT tokens worth $117 million with the USDT pair leading at 73%. However, HT’s volatility has been at a high of 47% in the past month making it volatile than any bond or security asset in financial markets today.