Huobi Mystery Sees Coin Rise 44% In Week

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Last Updated on 28 November 2022 by CryptoTips.eu

Jeroen Kok

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Although Bitcoin and Ethereum hardly move and the interest in crypto (and stocks) seems to decrease during the football world cup, there are still digital coins that are doing very well. Huobi Token, the digital coin of the similar platform, lost a lot of its profits built up in October due to the FTX scandal, but is still the winner of the week with a phenomenal gain of 44%

Leon Li, Huobi Global’s largest shareholder, sold his stake in the company in mid-October, but a mystery remains as to who the actual buyer was. Justin Sun, who founded the Tron blockchain and ditto coin, among others, is referred to by many as the new owner, but Sun has still not confirmed anything. The only thing he wants to say is that he is an advisor to Huobi. Sam Bankman-Fried as a buyer was also one of the rumors at the time, but since FTX has since gone bankrupt, that is impossible.

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Poloniex merge

Be that as it may, the fact that one of the largest crypto platforms in Asia has changed ownership seems to be giving the native currency a major boost. The new rumor that Huobi would merge with another platform, Poloniex, also pushes the price higher.

In the past week, the value of Huobi, which, like the other major digital coins, had suffered a sharp drop due to the FTX scandal, rose again by some 44%.

Primakov / Depositphotos.com