Cryptocurrency

Huobi token up 70% in the last 30 days, following Justin Sun’s arrival

Zegex

Huobi Global has confirmed that the native token’s HT surged by 70% in the past 30 days after the arrival of Tron founder Justin Sun as an advisor to the cryptocurrency exchange.

Over the past 30 days, Huobi’s HT opened flat between $4.1 and $4.5 until October 10, rising 23.8% to close at $5.2, according to CryptoSlate data.

Over the past seven days, Huobi’s HT maintained its bullish momentum, surging 53.8%. Similarly, on the 24-hour chart, HT is up 10% after reaching his $8 local high.

Justin Sang-in, HT up

Justin Sun publication Thanks to his role as an advisor to Huobi on October 10, excited investors flocked to Huobi’s ecosystem, driving HT’s price up by up to 23.8%.

Further investigation by WuBlockchain claimed It was said that Justin Sun’s involvement with Huobi was more than an advisor and he was the new owner.

In the days that followed, Justin Sun admitted that he was one of HT’s biggest owners. Some 74 million tokens are reportedly tied to his Tron founder’s wallet.

More HT Leaving Exchanges

An exchange’s net position metric measures the number of inflows or outflows of tokens across cryptocurrency exchanges over a period of time. When outflows outnumber inflows, it is considered bullish for investors and vice versa.

glass node data indicates that over 50 million HT tokens have left the exchange in the last 30 days. That means more investors will be bullish on his HT in the long term and move their holdings off the exchange.

Source: Glassnode.com
Source: Glassnode.com

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