Huobi Token (HT) Surges 24% Amid Recent Developments

Huobi Token (HT) Surges 24% Amid Recent Developments
  •  HT has risen from its all-time low of $3.70 on November 13 to its current price of $7.22. 
  • The corporation revealed a new brand identity and strategy for international growth.

There has been a 24% increase in the value of Huobi Token (HT) during the last day. The price of one HT has risen from its all-time low of $3.70 on November 13 to its current price of $7.22. The values of cryptocurrency tokens have taken a beating in the last several weeks, after a period of volatility that began with a run on FTX and ended with the exchange filing for Chapter 11 bankruptcy.

However, the sector is seeing indications of a resurgence as it attempts to bounce back from the incident. One such that is spearheading the drive back to wellness is the HT.

Restructure Plans 

The corporation revealed a new brand identity and strategy for international growth earlier this week. On October 8th, the exchange’s founder, Leon Li, stated that he had sold the majority of the exchange to About Capital Management of Hong Kong. 

Huobi published a press statement on November 22 detailing the exchange’s new strategy as part of the restructuring. Rebranding the firm and “giving full play to HT’s important strategic attributes” were also discussed.

Moreover, Huobi will utilize HT to give holders a voice in deciding whether “high-quality projects” be featured on the platform, according to the press statement. Huobi also cited the usual expansion in high-growth regions, such as South East Asia and Europe. In addition to exploring potential mergers and acquisitions.

It was recently reported by WuBlockchain on Twitter that Poloniex, an exchange backed by Justin Sun, will join Huobi. It is noteworthy that Justin Sun has lately purchased Huobi exchange. 

An engineering graduate who is passionate about writing and loves the very existence of crypto. Trading forex currency keeps me busy when I am not writing and analysing the crypto world.