Blockchain venture capital firm Multicoin Capital released an analysis and evaluation report on Huobi Global Universal Points (HT). The report pointed out that there is a deviation between Huobi’s fundamentals and the current HT valuation. After a deeper dig, it is believed that the market has misunderstood Huobi, and at the same time, at the current price, HT is underestimated, mainly due to the information asymmetry between the East and the West. Because Huobi’s current trading volume is real, and because it has more BTC than other exchanges other than Coinbase, it is more HT. The report investigates the current operation of Huobi, and details its product and business history, its close relationship with the government and its transaction volume (mainly focused on point-to-point OTC transactions, expiration and perpetual contracts). Researched its recent efforts to become a financial infrastructure service provider in China, mainly through the development of Huobi public chain using Nervos Muta SDK technology. Based on the fundamentals of stable growth in trading volume, attractive token economics, relative pricing errors in the market, and Chinese government blessings, HT is considered to be one of the best risk-adjusted investment opportunities in the cryptocurrency sector.