Huobi Token Price Prediction – HT Blasts Up 7%, How High Can It Go?
The Huobi Token (HT) is one of the most prominent exchange tokens in the market, with a price gain of 7% in the past 24 hours. However, is now the best time to purchase HT?
HT Price Movement
Huobi Token currently trades at $7.73, an increase of around 7% in the past 24 hours. The token trades above most of its moving average (MA) indicators, except its 200-day MA of $7.80.
A positive moving average convergence divergence (MACD) demonstrates a buy signal for HT, and the token’s relative strength index (RSI) of 53.34 shows that it is underbought.
Successful Buyout Excites Market
As an exchange token, developments within the Huobi exchange should spur the price of HT. And this month, the exchange entered into a buyout agreement.
An official announcement shared weeks ago confirmed that About Capital Management, an asset management firm based in Hong Kong had become the controlling shareholder of Huobi Global following a successful buyout deal.
The buyout fee, which remains undisclosed, sees About Capital become Huobi’s largest shareholder. The asset management firm plans to fuel Huobi’s international brand promotion and business expansion. The first action of the owners would see a shakeup in the exchange’s corporate structure. Huobi also pointed out that the change in management doesn’t represent any switch in its core business operation and management structure. However, the exchange has confirmed that it plans to move its operating base from China.
With the Chinese government adopting a hardline stance against cryptocurrencies in the past few years, Huobi and About Capital believe this is a perfect time to move to a base with better, more welcoming crypto laws.
Justin Sun Joins Huobi Advisory Board
As part of its governance overhaul, About Capital plans to build a global strategic advisory board led by leading industry figures to help steer Huobi in the right direction.
This week, the company made its first strategic recruitment, bringing on crypto entrepreneur Justin Sun. Speaking to Bloomberg earlier this week, Sun confirmed that he had been asked to join Huobi’s advisory board, adding that he had also purchased millions of HT. Sun, who founded the TRON blockchain network, stressed that he had not yet acquired a stake in Huobi.
IMPT: Ideal for Value-Seeking Investors
Although HT has massive prospects, it’s not the only crypto asset offering investors value. One token that has witnessed significant investor demand is the presale of IMPT.
The Ethereum-based token powers the Impact Project, a blockchain ecosystem that supports environmental sustainability efforts worldwide and helps users to buy carbon credits. The token is currently available on presale at $0.018 per coin.