Should you invest in HT after Huobi Wallet launched Cloud Wallet?

on Oct 11, 2021
  • Huobi Wallet launched Cloud wallet.
  • The token has seen an increase in trading volume as a result.
  • HT has the potential to grow in value by the end of October.

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Huobi Token HT/USD is the native cryptocurrency token of the Huobi Global exchange. 

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HT is a decentralized digital asset based on the Ethereum blockchain, making it an ERC-20 compliant token.

The Cloud Wallet as a catalyst for growth

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On October 11, Huobi Wallet, which is the professional multi-chain light wallet of the Huobi ecosystem, made an announcement of the launch of a feature that is intended to make it a lot easier for users to take advantage of decentralized finance (DeFi) applications known as the Cloud Wallet.

That said, Cloud Wallet enables users to manage their digital assets without needing to keep a private key.

Given that DeFi has continued its growth, many new users are entering the space rapidly and need to learn how to use the wallet to hold their digital assets.

That said, managing a non-custodial wallet can be a bit complicated, as the owner needs to maintain their own private key.

This is a challenge that Cloud Wallet solves, as it lets users hold their digital assets without needing to manage their private keys.

This is due to the fact that there is a third-party management system that keeps the private user data secure through key escrow, which is a secure method through which cryptographic keys are stored, and as such, users can have their assets safe and easily accessible.

Should you invest In Huobi Token (HT)?

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On October 11, Huobi Token (HT) had a value of $7.66.

To get a better estimation of exactly what kind of value point this is for the token, we will be going over its all-time high value and analyzing its performance in September.

In terms of the all-time high value of Huobi Token (HT), it was on May 12, when the token had a value of $39.66.

At its all-time high, its value was $32 higher or 417% higher than its value on October 11.

In terms of its performance in September, it started off strong with a value of $17.61.

However, on September 26, the value dropped to $6.41.

Here we can see that the token dropped in value by $11.2 or by 63% throughout September.

However, from September 26 to October 11, the value increased by $1.25 or by 19%.

According to data from IntoTheBlock, Huobi Token (HT) saw $23.45 million in transactions greater than $100,000 within the last seven days.

That said, within the last seven days, HT also saw $11.97 million in total exchange inflows and $11.25 million in total exchange outflows.

 That said, with the launch of this Cloud Wallet, we can expect the HT token to reach a value of $8.80 by the end of October, making it a worthwhile investment.

Huobi Token Crypto Trading Ideas