Huobi’s alternate token skilled vital features on Feb. 21.
Huobi Token (HT) noticed a 23.7% enhance in worth over 24 hours. At 1:20 a.m. UTC, the cryptocurrency was priced at $6.33, its highest worth since mid-December.
These features in worth are possible on account of Huobi’s plans to start working in Hong Kong. In a tweet on Feb. 20, Huobi stated it’s “stoked” in regards to the Chinese language area’s upcoming crypto alternate insurance policies. Huobi stated it goals to safe a license and be among the many first exchanges to function within the area in compliance with native laws.
Earlier as we speak, Hong Kong regulators opened a session that can possible see the area legalize cryptocurrency buying and selling this summer season.
Huobi plans to develop its enterprise though it downsized its workforce considerably this 12 months. Round Jan. 6, the alternate laid off 20% of its workers. That information triggered HT to lose about 6% of its worth within the following hours.
Huobi serves customers within the Asia-Pacific market and is among the many largest cryptocurrency exchanges. Its 24-hour buying and selling quantity was $459 million as we speak.
The put up Huobi Token features 24% because the alternate says it would function in Hong Kong appeared first on CryptoSlate.