Huobi token rate increased by 25% overnight
The cryptocurrency began to rise in price after it became known about the deal to sell a controlling stake in the exchange. The news of the appointment of the Tron blockchain founder to the platform's advisory board accelerated the token's price rise
The rate of the cryptocurrency exchange Huobi's token rose 25% overnight from $4.12 to $5.14.
The cryptocurrency began to rise in price back on August 8, after it became known that the sale of a controlling stake in Huobi Global to Hong Kong investment company About Capital Management (HK) Co. The sale should not affect the cryptocurrency platform's core business. The company also plans to take a number of international initiatives to further promote the brand and expand its business.
As of Oct. 10 12:55 p.m., the Huobi (HT) token is trading at $5.13, with a market capitalization of $650 million on a daily trading volume of $32 million, according to Coingecko. The token has updated its price high since August 29.
It became known at the beginning of August that the exchange founder Leon Lee planned to sell a controlling stake in the exchange. The rate of Huobi token also reacted to the news with a sharp rise in price by 24% within 40 minutes.
