Comparing USDC and Huobi (HT) Tokens

USDC (USD Coin)

• Symbol: USDC
• Name: USD Coin
• Asset Platform: Ethereum
• Categories: @Mantle Ecosystem, Stablecoins, USD Stablecoin, BNB Chain Ecosystem, Solana Ecosystem, Polygon Ecosystem, Gnosis Chain Ecosystem, Arbitrum Ecosystem, Avalanche Ecosystem, Harmony Ecosystem, Moonriver Ecosystem, Near Protocol Ecosystem, Fantom Ecosystem, Moonbeam Ecosystem, Cronos Ecosystem, Metis Ecosystem, Arbitrum Nova Ecosystem, Velas Ecosystem, Optimism Ecosystem, Ethereum Ecosystem, ZkSync Ecosystem, Canto Ecosystem
• Market Cap Rank: 6
• Price Change (30d): 6%

USDC is a fully collateralized US dollar stablecoin that serves as a bridge between dollars and trading on cryptocurrency exchanges. It operates on the Ethereum blockchain and is designed to enable the exchange of value between people, businesses, and financial institutions globally. USDC aims to create a more inclusive global economy by removing artificial economic borders.

Huobi (HT)

• Symbol: HT
• Name: Huobi
• Asset Platform: Ethereum
• Categories: @Exchange-based Tokens, Centralized Exchange (CEX), Harmony Ecosystem, Ethereum Ecosystem
• Market Cap Rank: 96
• Price Change (30d): -13.93%

Huobi is the third-largest cryptocurrency exchange globally and has introduced its own token called Huobi Token (HT). HT rewards Huobi exchange users with lowered transaction fees and can be traded against popular currencies. Similar to other exchange-based tokens, Huobi Token aims to build user loyalty and provide added value to its millions of users, primarily in Asian countries. The launch of HT follows the successful model of Binance Coin (BNB) in offering discounted trading fees as a loyalty rewards system.

Huobi Token distribution was initiated in January 2018, where a total of 300 million HT (60% of total supply) was allocated to Huobi Pro members who purchased a discounted service package. The distribution took place over 15 days, with daily batches of HT becoming available on a first come, first served basis. The launch of HT was a strategic move for Huobi to recover its user base after regulatory changes in China significantly impacted cryptocurrency trading.

Huobi Token is among several exchange tokens, including Binance (BNB), Bibox (BIX), KuCoin (KCS), and Coss (COSS), as exchanges explore the issuance of their own tokens to incentivize users and enhance their platforms.