Huobi’s trade token skilled important beneficial properties 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 beneficial properties in worth are probably as a result of Huobi’s plans to start working in Hong Kong. In a tweet on Feb. 20, Huobi mentioned it’s “stoked” concerning the Chinese language area’s upcoming crypto trade insurance policies. Huobi mentioned it goals to safe a license and be among the many first exchanges to function within the area in compliance with native rules.
Earlier as we speak, Hong Kong regulators opened a session that may probably 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 trade 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.
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