Huobi Token (HT) It has risen 22% in the last 24 hours. HT, from its low level of $ 3.70 on November 13, reached the level to be traded at $ 7.22 at the time of this writing. So what is the source of this rise?
Huobi has been on the agenda with new developments lately
The company recently announced a brand update as well as a new global expansion roadmap. On October 8, founder Leon Li announced that all controlling shares of the stock market had been sold to Hong Kong-based About Capital Management. This could be one of the reasons behind the price increase of Huobi Token (HT).
As part of the restructuring, Huobi issued a press release on November 22 announcing a new orientation for the stock market. There was talk of the rebranding of the company and the “full inclusion of HT’s key strategic features”.
The press release stated that Huobi will use HT to allow owners to vote for “high-quality projects” to be listed on the platform. Huobi also talked about expansion in regions with high growth potential such as South East Asia and Europe. The company is also considering mergers and acquisitions.
According to the WuBlockchain news on Twitter in the past days, Justin Sun-backed exchange Poloneix was said to merge with Huobi exchange. With this cryptocurrency A denial came from the company regarding this matter. According to the press release, the company operates independently.
Tron (TRX) Founder Justin Sun is presumed to be the real name that manages the crypto money company, as it is known. Sun recently triggered the news that the two companies would merge as a result of an interview with Bloomberg.
*Not investment advice.
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