The altcoin price soared after cryptocurrency exchange Huobi announced the Dominica Coin airdrop. The deal is notable in part because of the Caribbean island’s ties to crypto billionaire Justin Sun, founder of Tron Blockchain, on which the new token will be launched.
Huobi announced the airdrop, altcoin price jumped!
Cryptocurrency exchange Huobi has announced that it will airdrop a new digital token from the Caribbean island of Dominica to users. Huobi said the new ‘Dominica Coin’, or DMC, will be released ‘in time’ on the exchange’s proprietary token offering platform, Huobi Prime. According to a statement, users will be able to complete their identity verification on Huobi with Dominica digital identity documents.
Following this news, Huobi Global’s HT token took off in the cryptocurrency markets on Tuesday. The HT token hit $7.26, up more than 15% on the day. However, the altcoin price declined slightly afterwards. At press time, the altcoin was trading at $6.98, gaining 11.14% on a daily basis. In addition, HT’s performance in the last seven days is impressive. The altcoin has gained 40% in a week.
Huobi Token (HT) is the native token of the cryptocurrency trading platform Huobi Global. It works on the ERC-20 standard as it is a decentralized digital asset developed on the Ethereum Blockchain. Huobi Token is a relatively young project. First launched in January 2018, the project gained popularity after its native token was listed on rival cryptocurrency exchange Binance. The value of HT is partially based on the reputation of the Huobi cryptocurrency exchange. However, there are other factors that change the price.
Justin Sun shared on Twitter about the deal
It is worth noting that the deal is notable for its partial links with crypto billionaire Justin Sun. Because Dominica tokens will be released on Justin Sun’s Tron Blockchain. cryptocoin.comAs you follow, Sun recently admitted to owning ‘tens of millions’ of HTs. Just last month, Huobi appointed Justin Sun as the first member of a new global advisory board responsible for guiding the exchange’s strategic layout and development.
Justin Sun also shared the latest developments on his Twitter account on Tuesday. Sun said that the HT token will be the only asset to be accepted in the ‘DMC (Dominica Coin) subscription. He also noted that it is issued as the only token for access and use in the HobiGlobal ecosystem. In this direction, Justin shared the following:
We are delighted to collaborate with the government of Dominica to jointly launch the world’s first national token on TRON, DMC (Dominica Coin) on HuobiGlobal Prime!
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