According to CoinGecko data, Huobi Token (HT) has attracted attention by rising nearly 20 percent today. So why is Huobi Token rising?
While Bitcoin (BTC) continued its horizontal course under $ 20 thousand, Huobi Token showed a significant rise and became one of the cryptocurrencies that rose the most in the last 24 hours.
Why Is Huobi Token (HT) Rising?
The rise of Huobi’s native token (HT) began after the firm announced its global advisory board that it will advance a new strategy after a fresh capital raise and a sale by the firm’s founder.
The value of HT rose 19.6 percent in recent trading after news of new investments in the Seychelles-based crypto exchange.
Huobi founder Leon Li Lin recently sold his stake in the company to Hong Kong-based asset management firm About Capital. At the same time, it was accompanied by the promise of more investment.
Along with the acquisition, it is also stated that the company has gone through many international cooperation and business expansion initiatives.
According to CoinGecko, Huobi is currently the eighth largest crypto exchange by 24-hour trading volume. The current market cap is around $48 million.
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