Huobi BTC Hits Market Cap of $44.94 Million (HBTC)

Huobi BTC (HBTC) traded 3% higher against the dollar during the one day period ending at 17:00 PM Eastern on October 23rd. Huobi BTC has a market capitalization of $44.94 million and $35,421.00 worth of Huobi BTC was traded on exchanges in the last 24 hours. In the last seven days, Huobi BTC has traded down 13.4% against the dollar. One Huobi BTC token can now be bought for about $46,351.71 or 0.69988847 BTC on popular cryptocurrency exchanges.

Here’s how other cryptocurrencies have performed in the last 24 hours:

• Aidi Finance (BSC) (AIDI) traded 2.2% lower against the dollar and now trades at $0.0000 or 0.00000000 BTC.
• Zoo Token (ZOOT) traded 2.2% lower against the dollar and now trades at $0.0652 or 0.00000239 BTC.
• CareCoin (CARES) traded down 2.2% against the dollar and now trades at $0.0809 or 0.00000297 BTC.
• Hokkaidu Inu (HOKK) traded up 1.2% against the dollar and now trades at $0.0004 or 0.00000001 BTC.
• Jeff in Space (JEFF) traded down 2.2% against the dollar and now trades at $2.75 or 0.00010076 BTC.
• Lumi Credits (LUMI) traded 8.9% higher against the dollar and now trades at $0.0162 or 0.00000027 BTC.
• AXIA Coin (AXC) traded 0.1% lower against the dollar and now trades at $13.43 or 0.00048094 BTC.
• MVP Coin (MVP) traded 0% lower against the dollar and now trades at $0.0944 or 0.00000141 BTC.
• P2P Solutions foundation (P2PS) traded 4.2% lower against the dollar and now trades at $162.85 or 0.00244806 BTC.

Huobi BTC Token Profile

Huobi BTC’s launch date was February 14th, 2020. Huobi BTC’s total supply is 969 tokens. Huobi BTC’s official website is www.hbtc.finance/en-us. The Reddit community for Huobi BTC is https://reddit.com/r/huobiglobal and the currency’s Github account can be viewed here. Huobi BTC’s official Twitter account is @hbtc_official and its Facebook page is accessible here. The official message board for Huobi BTC is medium.com/@hbtc_finance.

According to CryptoCompare, “## HBTC (H-Token Bitcoin)
HBTC is a digital token representing Bitcoin (BTC) on the Ethereum blockchain, adhering to the ERC-20 standard. This token facilitates the integration of Bitcoin’s liquidity with the DeFi ecosystem on Ethereum, enabling BTC holders to participate in decentralized finance without relinquishing ownership of their Bitcoin.

H-Tokens, developed by Huobi’s blockchain team, are a collection of digital assets minted on the Ethereum and Tron blockchains. Designed to seamlessly integrate mainstream cryptocurrencies into the decentralized finance (DeFi) ecosystem, these tokens facilitate a robust bridge between centralized finance (CeFi) and DeFi. Each H-Token is backed on a 1:1 basis by the cryptocurrency it represents, ensuring value consistency and stability across trading platforms.

## Key Features of H-Tokens:
* **Security and Reliability:** Leveraging Huobi’s extensive risk control and asset management experience, H-Tokens provide a secure environment for digital asset transactions.
* **Transparency and Auditability:** The issuance and reserves associated with H-Tokens are fully transparent, with all related data readily accessible for public auditing.
* **Enhanced Liquidity:** By standardizing assets on the ERC-20 and TRC-20 protocols, H-Tokens enhance liquidity within the DeFi space, facilitating efficient cross-platform exchanges.
* **Flexible Exchange Mechanisms:** H-Tokens support diverse transaction methods, accommodating various user preferences for asset conversion and management.
* **Full Collateralization:** Each token is fully backed by a corresponding amount of the underlying asset, which guarantees that all H-Tokens are redeemable at any time.

H-Tokens aim to enrich the Ethereum and Tron ecosystems by providing direct usability of wrapped mainstream cryptocurrencies in DeFi applications like Uniswap, Curve, and others. They address the need for high-quality crypto assets in DeFi, promoting broader financial inclusion and market growth.

## Note on Heco-Peg Tokens:
While H-Tokens are specifically designed for the Ethereum and Tron networks, Heco-Peg Tokens are distinct assets issued on the Huobi Eco Chain (HECO). Heco-Peg Tokens aim to provide similar functionality within the HECO ecosystem, facilitating the use of mirrored versions of popular cryptocurrencies. However, these are not interchangeable with H-Tokens and are intended to serve the HECO network exclusively.”

Buying and Selling Huobi BTC

It is usually not currently possible to buy alternative cryptocurrencies such as Huobi BTC directly using US dollars. Investors seeking to acquire Huobi BTC should first buy Ethereum or Bitcoin using an exchange that deals in US dollars such as Coinbase, Gemini or GDAX. Investors can then use their newly-acquired Ethereum or Bitcoin to buy Huobi BTC using one of the aforementioned exchanges.

HBTC/USD price chart by TradingView