Huobi is a Chinese digital currency trading platform and exchange based in Beijing. Huobi was founded in September 2013. It is one of the largest digital currency exchanges in China. In August 2017 Huobi along with OKCoin invested 1 billion yuan ($150 million) of idle client funds into “wealth-management products”. In September 2017, It was reported that Huobi and OKCoin would be stopping Yuan-to-bitcoin trading. In November 2017, According to reports, Huobi launched three tokens: 0x (ZRX), Kyber (KNT), and Airswap (AST) on their global trading platform, huobi.pro. In October 2017, the exchange fell victim to the authorities ‘ policy against digital assets and was forced to close. The exchange opened again under the Huobi brand.pro. Domain Huobi.pro was registered on March 19, 2017. Exchange has its own token – Huobi Token (HT).
Interesting price action was experienced in Huobi Token over the past 24 hours in which the digital currency, native to the Huobi Global exchange experienced a flash crash with its price dropping by as much as 93%. In what is considered a very rare event, the digital currency rebounded at almost the same rate within a short time.
