• Huobi Token (HT) is currently in a vulnerable state, as it deals with the drama surrounding the Huobi cryptocurrency exchange.
• Over the past 7 and 14 days, HT has lost 6.4% and 11.3% of its value respectively.
• Recent data from DeFiLlama shows that Huobi exchange experienced a massive capital outflow of over $75 million in the last 24 hours.
Huobi Token (HT) is currently in a state of vulnerability, struggling with the drama that has been surrounding the Huobi cryptocurrency exchange. Over the past 7 and 14 days, HT has suffered a 6.4% and 11.3% loss of its value respectively, and is on the brink of another meltdown as suggested by some of its technical indicators. The digital asset is currently in an oversold position, making it particularly susceptible to a significant price drop that could potentially come within the next few days.
The decentralized finance data aggregator DeFiLlama recently shared on Twitter that Huobi exchange had experienced a massive capital outflow of over $75 million in the last 24 hours. This is in stark contrast to the inflow of more than $87 million that the company had seen back on December 15, 2022. Since then, Huobi has suffered a loss of more than $204 million, including the $75 million that was recorded during the previous 24 hours.
One possible reason for this significant decrease, which has undoubtedly affected the Huobi Token, could be the rumors that have been spreading about the company’s financial difficulties. This has caused investors to become increasingly hesitant to invest in the exchange, which has led to a decrease in trading activity and capital flow. Furthermore, the negative press surrounding the exchange has caused a lack of confidence in the digital asset, leading to a decrease in its market value.
Despite the current issues facing Huobi Token, the digital asset is still trying to make a comeback. Analysts have suggested that the coin may be able to gain some of its recent losses if the company is able to get back on its feet and regain investor confidence. In the meantime, it is important for investors to remain diligent and cautious when investing in the coin, as the situation is still unfolding.