HT price increased 24% after news that Huobi exchange registered to operate in Hong Kong

The news that Huobi registered to operate in Hong Kong caused the exchange’s HT token to increase sharply by 24%, and hit the highest level since December 2022.

HT price increased 24% after news that Huobi exchange registered to operate in Hong Kong

As soon as information is available Hong Kong considers allowing individual investors to trade large-cap coins On February 20, the “new owner” of Huobi exchange Mr. Justin Sun later revealed on his Twitter that the exchange is applying for a license with the government of this special economic zone, and is about to launch an exchange. own translation called Huobi Hong Kong.

Huobi Token (HT) price immediately reacted positively to the news, up 23.7% in the past 24 hours and at one point hit $6.33 – HT’s highest level since December.

HT price movement in the last 7 days, CoinMarketCap screenshot at 11:00 AM on 21/02/2023

Hong Kong has outlined a plan to allow retail investors to trade Bitcoin (BTC), Ethereum (ETH) and several other major coins. This is an important step towards Hong Kong’s goal of becoming a major crypto hub.

Hong Kong regulators also have a discussion about adjusting the rules for crypto exchanges. Accordingly, SFC President Julia Leung said that the laws will comply with the principle of protecting investors “same business, same risks, same rules”.

Meanwhile, Huobi plans to further develop its business despite rumors of difficulties forcing large cuts in staff, Huobi Korea branch suddenly cut off Huobi Global relationship the middle of the storm. Around January 6, the exchange was 20% reduction in staffcausing the price of HT immediately after that also fell about 6% along the line of events.

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