May 11, 2020: Huobi Token (HT): Down 2.98%; 4th Straight Down Day

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Huobi Token Price Update

At the time of this writing, Huobi Token has a price of $3.739 USD, which puts it down by approximately 2.98% from yesterday. This marked the the 4th consecutive day Huobi Token has been down; it is still in a unclear trend, and is currently 8.4% below its 20 day moving average; staying above this level may be critical to sustain short-term momentum. To help contextualize yesterday’s price move, we can observe that price has rallied 14 of the past 30 days. And in terms of volume, yesterday’s price move ocurred on volume that was 56.39% less than its 7 day average volume.

In terms of an expected trading range, the Bollinger bands on Huobi Token suggest price may bounce between $3.765346 and $4.398654 based on its momentum and volatility over the past 14 days. As we are closer to the bottom of that range, rangebound traders may wish to consider exploring buying opportunities.

The market capitalization of Huobi Token, or the amount of US dollars it would take to buy up all the circulating coins, is currently estimated to be $830 million.

Straight Off the Chain

Over the past 24 hours, 196 transfers have been added to the blockchain recording transactions amongst holders of Huobi Token. In terms of estimating the number of holders, over the past day the total number of wallets holding Huobi Token has gone up by approximately 1. To understand loyalty or repeat usage amongst holders of Huobi Token, we can note that there were 65 wallets making a transaction yesterday, while 946 wallets have sent or received tokens in the past month; this imputes a daily active wallet to monthly active wallet ratio of about 0.07.

How are the Strong Holders of Huobi Token Faring?

In terms of wealth concentration, the richest 1,000 wallets own 134.28% of the coin’s total money supply. Ownership exceeding 100% is due to the fact that our supply metric is focused just on available supply, and some large owners of Huobi Token have ownership they cannot sell at this time — but may be able to in the future. Huobi Token’s smart contract owns approximately 0% of its own total money supply. This amount hasn’t changed over the past week.

The Latest on Huobi Token and Social Media

If you are interested in following Huobi Token on social media, Facebook, where it has NA following it, may be a good place to start.

Article by SixJupiter

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