Huobi’s change token skilled vital positive factors 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 positive factors in worth are doubtless on account of 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 laws.
Earlier at the moment, Hong Kong regulators opened a session that can doubtless see the area legalize cryptocurrency buying and selling this summer time.
Huobi plans to develop its enterprise despite the fact that it downsized its workforce considerably this 12 months. Round Jan. 6, the change laid off 20% of its workers. That information precipitated 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 the moment.
The put up Huobi Token positive factors 24% because the change says it is going to function in Hong Kong appeared first on CryptoSlate.
