Market Rumor Sees Huobi Coin Shoot Up 75% in Week

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Last Updated on 13 October 2022 by CryptoTips.eu

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / [email protected]
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Although the focus is still on Bitcoin and Ethereum as well as their reaction to the inflation figures widely expected in the US, there is a coin in the CoinMarketCap Top 100 which is making waves again. HuobiToken, the native coin of the crypto exchange Huobi, has gone parabolic in the last few days after talk of a capital injection.

The company’s website claims that recent operations will make sure Huobi gets “sufficient” capital injection into its margin and risk provision fund, as well as a global strategic advisory board, joined by “leading industry figures.”

Advertentie.

Still not involved

Those leading industry figures are not specifically named but there is also talk of two very influential crypto heavyweights indeed willing to take over the platform.

If recent reports on various crypto sites are to be believed then FTX founder Sam Bankman-Fried as well as Tron founder Justin Sun are currently thinking of taking over Huobi, and are ready to inject anywhere between $2 billion to $3 billion into the company.

Although Justin Sun has since admitted being involved in the takeover, Sam Bankman-Fried continues to deny, retweeting a claim a few days ago and responding: ‘still not involved’.

In any case, the value of Huobi’s native token has shot up some 75% in the past week on the news.