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 <p class="is-style-lead">Huobi, backed by Tron founder Justin Sun, plans to convert its native token to the HTX token.</p>
 <p>According to an official announcement, HTX stated that conversion from HT to HTX will commence on Jan. 22, 2024, while deposits for the new token are available from Jan. 20.</p>
 <p>Also, peer-to-peer (P2P) trading services for HTX will launch on Feb. 2, 2024, at 5:00 (UTC), while the token will be listed for spot trading on the same date and time, with withdrawals commencing the&nbsp;next day, Feb. 3, 2024.</p>
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 <p>The crypto exchange further announced that HTX users will enjoy a 5% discount and a 25% reduction on futures and spot trading fees respectively. This incentive could serve as a way to attract more holders and boost trading volume for the platform.</p>
 <p>Other benefits associated with the current HT <a rel="noopener noreferrer nofollow" title="token" href="https://thebittimes.com/tag/token.html">token</a> are expected to move to HTX.&nbsp;</p>
 <p>Meanwhile, users have until Jan. 20, 2025 to <a rel="noopener noreferrer nofollow" title="convert" href="https://thebittimes.com/tag/convert.html">convert</a> their HT holdings to HTX. According to the cryptocurrency <a rel="noopener noreferrer nofollow" title="exchange" href="https://thebittimes.com/tag/exchange.html">exchange</a>, HTX DAO will offer <a rel="noopener noreferrer nofollow" title="token" href="https://thebittimes.com/tag/token.html">token</a> allocations to HT holders who make the conversion.&nbsp;</p>
 <blockquote class="wp-block-quote">
  <p>“HTX DAO is an open and transparent decentralized autonomous organization with the governance token of the HTX token, i.e., $HTX. As an appreciation for your years of support and contributions, HTX DAO is offering a certain token allocation for HT holders who voluntarily choose to exchange their $HT for $HTX.”</p> <cite>HT press release </cite>
 </blockquote>
 <p>However, the HT <a rel="noopener noreferrer nofollow" title="token" href="https://thebittimes.com/tag/token.html">token</a> did not react favorably to the announcement, with the value dipping 17% from $2.10 to $1.74. While there has been a slight recovery, the <a rel="noopener noreferrer nofollow" title="token" href="https://thebittimes.com/tag/token.html">token</a> is still down 13% at the time of writing.</p>
 <p>In June, Justin Sun unveiled a new project that piqued the interest of crypto investors looking for high yields. Dubbed stUSDT, the project promised a compelling 5% return on low-risk securities such as government bonds.</p>
 <p>Within a mere two and a half months, stUSDT amassed a staggering $1.8 billion in investments, showcasing its meteoric rise and its immediate impact on the market. However, the rapid success of the project has generated substantial controversy, particularly around its effect on Huobi.</p>
 <p></p>
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  </svg> <span class="cn-block-related-link__prefix"> Read more: </span> Tron founder Justin Sun addresses UN concerns on USDT
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/justin-sun-s-huobi-exchange-looks-to-convert-native-token-to-htx-tbt77186.html">https://thebittimes.com/justin-sun-s-huobi-exchange-looks-to-convert-native-token-to-htx-tbt77186.html</a></p>

Justin Sun’s Huobi exchange looks to convert native token to HTX

TheBitTimes

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