Huobi Token gains 24% as the exchange says it will operate in Hong Kong
Huobi’s alternate token skilled important positive aspects 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 aspects in worth are seemingly 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 alternate 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 immediately, Hong Kong regulators opened a session that can seemingly see the area legalize cryptocurrency buying and selling this summer season.
Huobi plans to develop its enterprise despite the fact that it downsized its workforce considerably this 12 months. Round Jan. 6, the alternate laid off 20% of its workers. That information induced 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 immediately.
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