Huobi’s change token skilled vital beneficial properties on Feb. 21.
Huobi Token (HT) noticed a 23.7% improve 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 seemingly resulting from Huobi’s plans to start working in Hong Kong. In a tweet on Feb. 20, Huobi mentioned it’s “stoked” in regards to the Chinese language area’s upcoming crypto change 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 at this time, Hong Kong regulators opened a session that may seemingly 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 change laid off 20% of its workers. That information prompted 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 at this time.
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