Huobi Announces To Discontinue NFT Services After HT Flash Crash

Huobi In Trouble? Exchange To Discontinue NFT Services Post HT Flash Crash

Huobi exchange announced to discontinue NFT services on May 13, 2023 (UTC+8) due to their strategic and product adjustments to the Huobi Cloud Wallet.

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NFT assets must be transferred out of Huobi NFT before the deadline.

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On Thursday, HT dropped from a 24-hour-high of $4.81 to as low as $0.31 over the span of 10 minutes at 9 pm UTC. Less than 30 minutes later, its price rebounded to $3.70.

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Justin Sun says that the recent market fluctuations and the leveraged liquidations were caused by few users triggering forced liquidations in the spot and HT contract markets.

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H.E. Justin Sun also invested $100M for the liquidity of Huobi platform.

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Web3 community is speculaing the liquidity depth of main cryptocurrencies and HT token, strengthen leverage risk warnings and liquidity capabilities.

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Users to withdraw assets from Huobi Cloud Wallet. What's next for Huobi?

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