HUSD Price（HUSD）USD

HUSD is a kind of stablecoin pledged by legal currency, which provides the advantage of trading with blockchain based assets and reduces the price risk. HUSD is issued on the Ethereum blockchain as erc-20 token and is 1:1 pledged by the US dollar in the US bank account owned by Paxos.

 

History

HUSD was first launched in october2018 as a stablecoin solution for the Huobi global exchange. The solution aims to integrate four stablecoins, including Paxos standard (pax), true USD (tusd), USD coin (usdc) and Gemini dollars (GUSD), into a token HUSD, which can be traded in the exchanges of Huobi. Users can deposit and withdraw any of the four stablecoins in their Huobi account, which is displayed as HUSD balance.

However, Huobi observed that customers are reluctant to use HUSD for transactions because of its opaque pricing. In addition, seeing the problem of tether, Huobi hopes that its stablecoin can be independent of its exchange. In july2019, a startup company supported by Huobi capital named stable universal launched a new erc-20 HUSD stable coin, using Paxos as its hosting partner. Since then, Huobi has transferred its old stable coin to the erc-20 HUSD stable coin supported by the new stable universal.

 

What is the Value of HUSD?

HUSD token is the foundation of HUSD ecosystem. HUSD ecosystem includes exchanges and platforms that support HUSD trading and exchange, applications and platforms that accept HUSD, and erc-20 wallets that accept HUSD.

HUSD (HUSD) has certain value. Coinbase gave it a dollar price on November 15, 2021, with a market value of $284.9 million, a 24-hour market trading volume of $232.4 million, and a circulation supply of $284.8 million HUSD. I think HUSD is a stablecoin, because the highest price given by coinbase in history is $1.09.

In terms of service, HUSD seems to be a decent stablecoin. However, the details of HUSD are vague. Therefore, I advise speculators and investors to be skeptical of HUSD and other stablecoins. I think the recognition of HUSD shows that many stablecoins are not trustworthy. Therefore, speculators need to be cautious about stabilizing the currency, because some of their builders have not disclosed everything.

 

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