Due To Huobi New Expansion Plans, Raise Its Token Price, HT

Due To Huobi New Expansion Plans, Raise Its Token Price, HT.

After hitting a bottom on Nov. 22, Huobi Token’s price increased by 13%. It is likely that the rapid price increase is caused by Huobi’s recent release of their global expansion plan.

The reason behind the rally

Huobi Global announced on Nov 22 a rebranding strategy, changing its name to Huobi and aiming to be among the top three cryptocurrency exchanges again.

“BIG NEWS! #Huobi launches refreshed brand, unveils post-acquisition global expansion roadmap!,” Huobi said on Twitter

Huobi will strengthen its new brand once the rebranding process is complete, and the strategic attributes of HT will be given full play.

Read More: CEO of Binance and Coinbase Agrees With Vitalik Buterin’s Idea for Crypto Exchanges

In the same vein as before, Huobi will use HT voting to identify high-quality projects on the market that their competitors may not be aware of.

A roadmap released by Huobi indicates the firm will support undiscovered assets with strong market potential as well as encourage communities to build projects, adding value to the market as a whole.

“🔥Three powerful strategies for rebranding @HuobiGlobal: “Global development, Technology-driven progress, and Science for Good Future.”#Huobi will serve from its heart in providing professional services to global users and work with the industry to build a global #Web 3.0,” said Justin Sun, an advisor of Huobi on Twitter.

The token price prediction

At the time of writing, Huobi Token (HT) is trading around $4.96. If the pattern continues, HT could reach resistance levels of $5.1655 and $6.0379. In case the trend reverses, HT might fall to $4.4852 and $4.1944.

As seen on the charts from The News Crypto, Huobi Token (HT) has been exhibiting a bullish trend for the past month. If this trend continues, HT may be able to overtake its resistance level at $9.9593.

Read More: Huobi Global Advisor, Justin Sun to Consider Purchase FTX Assets 

Therefore, Huobi Token (HT) might plummet to almost $3.9633 if investors turn against crypto.

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Jamilatul Mahmudah

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