The cryptocurrency exchange sector has experienced renewed turbulence following Huobi's major shareholder change, marking one of the largest industry acquisitions during the current bear market.
HT Token's Remarkable Rally
According to CoinGecko data, Huobi's native token (HT) soared 88% from $4.10 on October 10 to $7.71 by October 18, nearly erasing all bear market losses since early 2022. Key developments driving this surge:
- Ownership transition to Hong Kong-based About Capital Management
- Strategic advisory committee appointments including TRON founder Justin Sun
- Public commitments to enhance HT's utility and global expansion
Understanding Exchange Tokens
Unlike standard cryptocurrencies, exchange-native tokens like HT, BNB (Binance), and OKB (OKX) feature:
| Feature | Benefit |
|---|---|
| Platform integration | Trading fee discounts & premium services |
| Ecosystem utility | Powering blockchain networks beyond trading |
| Value proposition | Direct correlation with exchange performance |
Binance's BNB currently ranks as the 5th largest crypto asset ($45B market cap), while HT holds the #53 position ($1B market cap).
The Acquisition Breakdown
Key details about Huobi's ownership transition:
- October 8 announcement: About Capital's acquisition of Huobi Global shares
- Founder exit: Li Lin (Huobi's largest shareholder) completes divestment
- Valuation: Reported $1B+ transaction (exact figures undisclosed)
About Capital CEO Ted Chen stated: "We believe the crypto asset industry and Huobi Global remain in early stages with tremendous long-term growth potential."
Strategic Moves Post-Acquisition
The new ownership has implemented several initiatives:
👉 Discover how major exchanges are adapting to market changes
- Formation of global advisory committee
- Capital injection for risk management
- Accelerated international expansion plans
- Explicit focus on HT token empowerment
Justin Sun's Controversial Involvement
Despite denials of direct investment, TRON founder Justin Sun has:
- Joined Huobi's Global Strategy Advisory Committee
- Publicly committed to HT's value appreciation
- Reportedly acquired millions of HT tokens
- Added Huobi affiliation to his social profiles
His October 10 statement clarified: "We won't re-enter the Chinese market but will focus globally."
Market Response Timeline
HT's price progression post-acquisition:
| Date | Price | 24h Change |
|---|---|---|
| Oct 10 | $4.87 | +18.3% |
| Oct 12 | $6.11 | +19.7% |
| Oct 13 | $7.52 | +33.0% |
| Oct 14 | $8.00 | (Peak) |
Current trading volume exceeds $60B across Huobi Global platforms.
FAQ: Understanding Huobi's Transformation
Q: Why did HT price surge after the acquisition?
A: The ownership change brought fresh capital, strategic restructuring, and public commitments to enhance HT's utility, restoring market confidence.
Q: What's different about exchange tokens vs regular cryptocurrencies?
A: Exchange tokens directly tie to platform ecosystems, offering trading benefits while functioning as native assets within proprietary blockchain networks.
👉 Learn more about token economics in major exchanges
Q: How will Huobi's global strategy affect users?
A: The exchange is prioritizing international markets while maintaining existing services, with particular focus on improving HT token functionality.
Q: What challenges does Huobi face post-acquisition?
A: Key hurdles include regaining market share lost during China's crypto ban, competing against established players, and delivering on HT value propositions.
Q: How significant is the $1B+ valuation in current market conditions?
A: This represents a strong vote of confidence during crypto winter, though substantially below Huobi's previous $3B valuation estimates.