The Huobi (HTUSD) pair represents the trading relationship between Huobi Token (HT) and the United States Dollar (USD). Huobi Token is the native cryptocurrency of the Huobi exchange, one of the leading digital asset platforms. Here's how the conversion works: When converting HT to USD, you sell HT tokens and receive USD in return based on the prevailing exchange rate.
For example, if the HTUSD exchange rate is $10 per HT, and you have 100 HT, you would receive $1000.
HT serves various purposes, including access to premium features, discounts on trading fees, and participation in Huobi's ecosystem. The pair's history has seen fluctuations influenced by market demand, the adoption of Huobi Token, and external factors impacting the USD.
Huobi Token (HT) was launched in early 2018 with an initial price of approximately $1.40 USD. The token experienced notable fluctuations in its price history since then. After the initial launch, HT saw significant growth during the cryptocurrency bull run of late 2017 and early 2018, reaching an all-time high of around $6.10 USD in January 2018. However, as the broader cryptocurrency market experienced a downturn, HT's price also underwent a significant correction, dropping to around $1.00 USD in early 2019.
Since then, HT has demonstrated a mix of upward and downward price movements, influenced by various factors such as market sentiment, platform developments, and overall cryptocurrency market trends. The token experienced periods of growth and stability, reaching a peak of approximately $26.70 USD in June 2019. However, like many other digital assets, HT also faced price retracements and consolidations during certain periods.
Trading HTUSD offers several potential advantages and disadvantages. Pros include the token's close association with the Huobi exchange, providing exposure to the platform's ecosystem and potential benefits such as fee discounts. Additionally, Huobi Token has shown price volatility, offering opportunities for traders to profit from short-term price movements.
Cons include the inherent risks of cryptocurrency trading, including market volatility and regulatory uncertainties. As for other currency pairs, traders may consider popular options like BTCUSD or ETHUSD, which are highly liquid and have well-established market histories. They should also explore pairs that align with their investment goals, such as altcoin pairs or stablecoin pairs, depending on their risk tolerance and trading strategies. Conducting thorough research and analysis is crucial when considering any currency pair for trading.
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* The spreads provided are a reflection of the time-weighted average. Though Skilling attempts to provide competitive spreads during all trading hours, clients should note that these may vary and are susceptible to underlying market conditions. The above is provided for indicative purposes only. Clients are advised to check important news announcements on our Economic Calendar, which may result in the widening of spreads, amongst other instances.
The above spreads are applicable under normal trading conditions. Skilling has the right to amend the above spreads according to market conditions as per the 'Terms and Conditions'.
Why Trade [[data.name]]
Make the most of price fluctuations - no matter what direction the price swings and without capital restrictions that come with buying the underlying crypto asset.