The crypto news today show us that Huobi Token rallies by more than 6.23% in a market that is full of reds. Unlike Bitcoin (BTC, Ether (ETH), Bitcoin Cash (BCH), Cardano (ADA), or other cryptocurrencies which had a great week and are now in red, the price of HT is going up and some analysts are wondering why is that the case.
At press time, the Huobi Token rallies and HT is at a price of $4.26 with a 6.43% increase. As you probably know if you read our Huobi Token news before, in April 2020 the Japanese financial regulator FSA (Financial Services Agency) approved the native exchange token by Huobi Global, the Huobi Token (HT), as a compliant cryptocurrency asset to trade in the world’s second largest digital trading marketplace. As such, HT started trading on Huobi Japan in May.
In addition to this, we have seen reports showing that HT is the first leading exchange platform token that passed regulatory scrutiny in Japan, joining the list of 25 other compliant tokens that have already been approved by the Japanese FSA. On top of that, Japan is positioned as a country with more thorough and meticulous regulatory bodies which are driving innovation in the crypto ecosystem.
However, this is not the direct reason why Huobi Token rallies today. In the chart above, we can see that the momentum behind the digital asset has been strong. Earlier in the year, Huobi also worked on partnering with several platforms – one of which was Travala.com which recently saw a revenue jump and reported that 60% of all bookings were paid with cryptocurrencies.
Besides that, the fact that Huobi Token rallies just proves that HT has major utility in the ecosystem. As the exchange is accelerating its efforts to integrate with third-party partners (credit cards, digital bank cards, blue-chip tech companies and other entrepreneurship centers), the token will obviously see more green days ahead.
So, if you are wondering whether you should get Huobi Tokens (HT) in your wallet, you should know that besides having them as coins, you would also earn points and benefit from the network. Huobi also buys back HTs with 20% of its profit from trades every quarter, which is another thing to consider. More on this can be found on the following link.
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