Huobi BTC HBTC
$22,269.69 2.21%
Latest Updates
Updated at 02:50$199,747,660.73
#287
$8,015.73 29.84%
-$493.04 2.21%
-$2,087.54 9.37%
What about Huobi BTC?
Huobi Global, one of the largest cryptocurrency exchanges in the world, has launched a synthetic version of Bitcoin called HBTC. HBTC aims to bridge the gap between the traditional financial world and the cryptocurrency ecosystem by bringing Bitcoin liquidity to Ethereum-based DeFi applications. HBTC is an ERC-20 token that represents Bitcoin on the Ethereum blockchain. HBTC maintains a strict peg to the value of BTC at a 1:1 ratio.
As a synthetic version of Bitcoin, HBTC is not a direct representation of Bitcoin itself, but rather a financial instrument that tracks the price of Bitcoin. This allows investors to gain exposure to the price of Bitcoin without having to hold the actual cryptocurrency. HBTC is fully collateralized by Bitcoin held in a reserve, ensuring that the value of HBTC is always backed by real Bitcoin.
One of the core advantages of HBTC is that it provides investors with a regulated and trustworthy way to invest in Bitcoin. Huobi Global is a well-established cryptocurrency exchange with a good reputation in the industry. By launching HBTC, Huobi Global has provided investors with a way to invest in Bitcoin without having to worry about the risks associated with holding Bitcoin directly.
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