Huobi Token surges 24% as exchange says it will operate in Hong Kong

The Huobi token exchange attained a considerable acquire on February 21.

Huobi Token (HT) has enhanced by 23.seven% in worth in 24 hrs. At one:twenty a.m. UTC, the cryptocurrency was priced at $six.33, its highest worth due to the fact mid-December.

Those increases in worth can be attributed to Huobi’s program to begin operations in Hong Kong. In a tweet on February 20, Huobi explained it is “excited” about the approaching crypto exchange policies of the China area. Huobi says it aims to safe a license and is a single of the initially exchanges working in the area to comply with regional rules.

Earlier nowadays, Hong Kong regulators opened a consultation that will probably see the area legalize crypto trading this summertime.

Huobi ideas to develop its organization regardless of drastically cutting its workforce this yr. Around January six, the exchange laid off twenty% of its staff. That information brought about HT to reduce about six% of its worth in the hrs that followed.

Huobi serves end users in the Asia-Pacific market place and is a single of the biggest cryptocurrency exchanges. Its 24-hour trading volume is $459 million nowadays.

The submit Huobi Token rose 24% when the exchange explained it would operate in Hong Kong appeared initially on CryptoSlate.

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