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.
BIG NEWS! #Huobi launches refreshed brand, unveils post-acquisition global expansion roadmap!https://t.co/bGzw7mp0yU pic.twitter.com/EqBwcoOe9o
— Huobi (@HuobiGlobal) November 22, 2022
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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