Huobi Token Rises 75% After TRON Founder Justin Sun’s Plan

Huobi is one of the largest exchanges in the world at the moment. The exchange also has its own token, the Huobi Token (HT). As with most other cryptocurrencies, things didn’t exactly go well with HT. Until suddenly a few days ago the token shot up by more than 75%. This had everything to do with plans by Tron founder Justin Sun.

Huobi token

A few days ago, the price of HT was just over $4. It was at its lowest point in nearly two years. Compared to the all time high At that time, the price was even more than 90% in the red. However, everything changed when Justin Sun announced plans to revive the Huobi exchange and HT token on October 9.

On Sunday, Justin Sun was admitted to Huobi’s Global Adivsory Board. Almost immediately, Sun shared his plans to make the importance of the Huobi Token within the ecosystem of the exchange more important.

β€œWe know the key to revitalizing Huobi is to amplify HT, and HT can only thrive on Huobi. In the future, many great strides will be made around HT, including brand upgrade, empowerment and business collaboration.”

A new start for Huobi

In a interview with CoinDesk Sun announced that he wants to make HT a token similar to ‘s own token Binance, Binance Coin (BNB). Sun argues that BNB was pivotal in Binance’s great success.

β€œThe success of BNB really benefits the Binance platform. So I think in terms of operations we should focus on HT.”

Justin Sun’s new plans come amid major problems at Huobi. The exchange, which has its origins in China, came under fire when the government there took harsh measures against the crypto industry.

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This has caused a lot of damage to the exchange and many users have taken their stuff. Reportedly, Huobi would even consider putting as much as 30% of all employees out on the street. However, with the new direction that the exchange seems to be taking, Huobi is very optimistic about the future.

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