• News
    • Bitcoin
    • Altcoins
    • Blockchain
    • DeFi
    • Regulation
    • Scams
  • NFT
  • Metaverse
  • Analysis
  • Learn
  • Videos
  • Blogs
  • Market Cap
  • Shop
What's Hot

ZachXBT reveals Coinbase users lost another $45M in a week to ongoing social engineering scams

2025-05-07

Bitcoin PUMPS Ahead of FOMC Press Conference

2025-05-06

Bitcoin Core Removes The Mask

2025-05-06

Subscribe to Updates

Get the latest creative news from FooBar about art, design and business.

Facebook Twitter Instagram
Crypto Investor News Network
  • News
    • Bitcoin
    • Altcoins
    • Blockchain
    • DeFi
    • Regulation
    • Scams
  • NFT

    All Eyes on Art: Upcoming Collections to Watch the Week of February 4

    2025-02-05

    Creator of rabbit AI assistant has hidden NFT past

    2024-05-02

    Ethereum tops daily NFT sales at US$7 mln, ends weakest month of 2024

    2024-05-02

    Top NFT Airdrops and Giveaways for May 2024

    2024-05-02

    Casio Launches NFT Collection Celebrating 50th Anniversary

    2024-05-01
  • Metaverse

    Shib: The Metaverse – Part of the Expanding Shiba Inu Ecosystem

    2025-01-03

    Experience to Earn: Everdome’s Metaverse Frontier

    2024-12-30

    Beyond Bots: Meta Motivo and the Dawn of Humanlike Digital Life

    2024-12-13

    Exploring NetVRk: What Is Behind This AI-Driven Virtual Universe?

    2024-10-28

    Council of Europe Highlights Metaverse’s Impact on Privacy and Democracy

    2024-09-05
  • Analysis

    Crypto Exchange Coinbase Lists New DeFi Altcoin Project Built on Base Blockchain

    2023-12-13

    Ethereum Price Bears Keep Pushing, Why Decline Isn’t Over Yet

    2023-12-13

    Trader Bullish on Cosmos (ATOM), Says One Dogecoin Rival Setting Up for Next Leg Up – Here’s His Outlook

    2023-12-13

    AVAX Price Pumps 50% and Dumps 15%, Why Uptrend Is Still Strong

    2023-12-13

    Top Trader Predicts Parabolic Rally for Solana Competitor – Here’s His Upside Target

    2023-12-13
  • Learn

    What is a Layer-1 (L1) Blockchain? L1 Problems & Future

    2025-05-03

    What is a Layer-2 (L2) Blockchain Solution? Types & Problems They Solve

    2025-05-02

    What Is a Layer-0 Blockchain Protocol?

    2025-05-02

    What They Are and What They Are For

    2025-04-17

    What It is & Why it Matters

    2025-04-16
  • Videos

    Bitcoin PUMPS Ahead of FOMC Press Conference

    2025-05-06

    Bitcoin Core Removes The Mask

    2025-05-06

    How MSTR Could Go To Zero

    2025-05-05

    Bitcoin to $100K? SOL, ETH, Altcoin Season, MOVE Disaster & More

    2025-05-05

    How To Run Your Own Bitcoin Node (And Fight Bitcoin Spam)

    2025-05-04
  • Blogs
  • Market Cap
  • Shop
Facebook Twitter Instagram TikTok
Crypto Investor News Network
Home»Altcoins»Huobi Token flash crashes, recovers quickly- Is there more than meets the eye
Altcoins

Huobi Token flash crashes, recovers quickly- Is there more than meets the eye

2023-03-10No Comments3 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Share
Facebook Twitter LinkedIn Pinterest Email
  • HT token fell precipitously but soon regained ground during Thursday (9 March) trading hours.
  • About $2.55 million worth of long positions were liquidated on Thursday.

Huobi Token [HT], the native token of the popular cryptocurrency exchange, Huobi Global, flash crashed by more than 60% during Thursday trading hours, falling from $4.74 to $1.83 in a matter of 25 minutes, as per CoinMarketCap.

The token, however, recovered immediately to $3.72. At the time of writing, the token exchanged hands at $3.82. down 20% over the past 24 hours. The precipitous drop placed HT at the top of the biggest crypto losers of the day.

The exchange’s advisor, Justin Sun, termed the crash as a normal market behavior that happened because some users triggered a series of leveraged liquidations. Sun added that Huobi will create a $100 million fund to improve the liquidity depth of HT and other cryptos.

We deeply apologize for the impact of the leveraged liquidation on the market caused by a few users, and in order to further improve the multi-currency liquidity of the @HuobiGlobal platform, we will set up a liquidity fund with an investment of 100 million US dollars.

— H.E. Justin Sun 孙宇晨 (@justinsuntron) March 10, 2023


Read Houbi Token’s [HT] Price Prediction 2023-24


Crash due to increasing FUD?

As per data from Coinglass, the number of long liquidations for HT surged to $2.55 million as of 9 March, a whopping 13413% increase from the previous day.

Source: Coinglass

The crash could be due to the increasingly negative sentiment that has engulfed the wider cryptocurrency market following the hawkish stance of financial regulators and the recent collapse of the crypto-friendly bank, Silvergate.

See also  How the Bitcoin network can solve the pitfalls of DeFi token bridges

Twitter users weren’t too convinced with Justin Sun’s rationale behind the crash and even questioned the idea behind the proposed $100 million fund. Consider this tweet, for instance.

Few questions, Justin 🙃 pic.twitter.com/LrhkOAIUxK

— Josh (@Josh94K) March 10, 2023

HT’s supply on exchanges falls

The flash crash led to a drastic increase in the number of short positions taken for HT. The Longs/Shorts Ratio fell from 0.99 to 0.87.

Source: Coinglass

The news of the crash created significant buzz for HT on social media as data from Santiment showed that the social volume soared to its monthly high on 9 March.

The supply on exchanges recorded a sharp fall as users took their funds out of centralized trading platform fearing an FTX-like scenario.

Source: Santiment


Are your holdings flashing green? Check the HT Profit Calculator


Meanwhile, Huobi Global recently announced that it was in the process of applying for a trading license in Hong Kong, following the region’s plan to allow retail investors to trade in popular cryptocurrencies.

Crashes eye Flash Huobi meets quickly recovers Token
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

$TRUMP IS CRASHING! DONALD TRUMP CRASHES THE ENTIRE CRYPTO MARKET…

2025-04-03

FBI initiative saves thousands from crypto scams, recovers $285 million

2025-02-13

Crypto News: Bitcoin Crashes, Trade War, Altseason Dead, ADA, HBAR & More

2025-02-03

HOW $TRUMP TOKEN HAS CREATED A NEW PARADIGM SHIFT!!!!

2025-01-20
Add A Comment

Leave A Reply Cancel Reply

Top Posts
Videos

Can Bitcoin Repeat 574% Returns This Cycle?

2024-08-12

CT Club: https://learningcrypto.com Merch Shop: https://shop.learningcrypto.com 🕊️ FREE Discord: …

NFT

ZTX’s Genesis Homes NFTs Break Records despite Bearish Market

2023-09-08

The Web3 platform ZTX achieved a record-breaking sale of 4,000 Genesis Homes NFTs, showcasing enthusiasm…

Bitcoin

How Bitcoin remains unfazed amid market instability

2023-06-07

The new year rally boosted BTC’s network adoption further, as more than 4.36 million non-zero…

Subscribe to Updates

Get the latest news and Update from CINN about Crypto, Metaverse and NFT.

Editors Picks

ZachXBT reveals Coinbase users lost another $45M in a week to ongoing social engineering scams

2025-05-07

Bitcoin PUMPS Ahead of FOMC Press Conference

2025-05-06

Bitcoin Core Removes The Mask

2025-05-06

How MSTR Could Go To Zero

2025-05-05
Crypto Investor News Network
Facebook Twitter Instagram TikTok
  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Disclouser
© 2025 - All rights are reserved.

Type above and press Enter to search. Press Esc to cancel.

bitcoin
Bitcoin (BTC) $ 101,203.12
ethereum
Ethereum (ETH) $ 2,050.25
tether
Tether (USDT) $ 1.00
xrp
XRP (XRP) $ 2.25
bnb
BNB (BNB) $ 622.00
solana
Solana (SOL) $ 160.24
usd-coin
USDC (USDC) $ 1.00
dogecoin
Dogecoin (DOGE) $ 0.190649
cardano
Cardano (ADA) $ 0.732661
tron
TRON (TRX) $ 0.255571
bitcoin
Bitcoin (BTC) $ 101,203.12
ethereum
Ethereum (ETH) $ 2,050.25
tether
Tether (USDT) $ 1.00
xrp
XRP (XRP) $ 2.25
bnb
BNB (BNB) $ 622.00
solana
Solana (SOL) $ 160.24
usd-coin
USDC (USDC) $ 1.00
dogecoin
Dogecoin (DOGE) $ 0.190649
cardano
Cardano (ADA) $ 0.732661
tron
TRON (TRX) $ 0.255571