Huobi Token flash crashes, recovers quickly- Is there more than meets the eye

The token, however, recovered immediately to $3.72. At the time of writing, the token exchanged hands at $3.82. down 20% over the past 24 hours. The precipitous drop placed HT at the top of the biggest crypto losers of the day.

The exchange’s advisor, Justin Sun, termed the crash as a normal market behavior that happened because some users triggered a series of leveraged liquidations. Sun added that Huobi will create a $100 million fund to improve the liquidity depth of HT and other cryptos. We deeply apologize for the impact of the leveraged liquidation on the market caused by a few users, and in order to further improve the multi-currency liquidity of the— H.E. Justin Sun 孙宇晨

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