Huobi Exchange suddenly announced that it will stop providing NFT services due to changes in strategy and products in Huobi Cloud Wallet.
According to a notice posted at noon on March 10, Huobi exchange will suspend NFT services from May 13, 2023 due to adjustments in the product strategy of Huobi wallet.
The exchange notes that users need to complete the process of transferring NFT assets from Huobi Cloud Wallet to their on-chain wallet by the deadline of May 13, 2023, after this date Huobi NFT and related services will no longer be available. use.
📢Huobi to Discontinue Huobi NFT Services
❗️Please ensure that you complete your transfers before May 13, 2023 (UTC+8) when all services of Huobi NFT will no longer be available.
❤️Thanks for your continued support!
— Huobi NFT (@TheHuobiNFT) March 10, 2023
In addition, the crypto exchange did not explain much about the reason for its NFT shutdown.
The announcement appeared right after the exchange’s HT token witnessed a “floor” drop at around 4 am on March 10, “evaporating” up to 93% of its value from $4.71 to $0.31 on the parent platform. . However, as observed, the price of HT suddenly “falled to the bottom” in just 15 minutes and then quickly returned to the old price level.
Owner Justin Sun said this 93% crash was simply in line with the market’s downward direction, and then injected 100 million USDC in the hope of calming the community’s panic.
The price of HT is currently at $3.86, down 21% from 24 hours ago.