Huobi Token Price Prediction and Analysis: HT +20%! Huobi to expand to new countries! Exchange will help during EOS launch. Friday, June 1
Bitcoin's influence on the market
Bitcoin is still the leading cryptocurrency in the market, therefore to understand the price movement and future predictions of any other coin, one needs to follow BTC situation. It is currently slowly recovering after recent lows, bringing the whole market upwards. You can read the most recent Bitcoin price analysis and prediction, as well as important news overview, which can affect the market.
Important Huobi News
Expanding to the Brazilian Market
The first reports about Huobi targeting Brazil for their expansion strategy was made when Huobi executives were seen at a local industry event talking to influential people from the region. Huobi is originally from China and after the cryptocurrency ban they focused on developing their business in other countries. They have already registered operations with U.S financial regulator, and are allegedly currently at the early stages of setting up new offices in Canada. The global expansion of the exchange may significantly increase not only recognition of the platform but also open up for new users and communities.
Huobi 10 index
They have created a special index, which consists of 10 cryptocurrencies with good market value and high liquidity: Bitcoin (25.96%), Huobi Token (25.57%), EOS (15.57%), Ethereum (12.30%), Bitcoin Cash (5.55%), XRP (4.30%), LTC (3.31%), IOST (3.02%), Ethereum Classic (2.57%) and DASH (1.82%). The index is a first step towards new financial products, derivatives and crypto funds that the exchange plans to start introducing in next months.
Huobi to help during EOS mainnet launch
The exchange announced that they will take care of all the things connected with swapping the tokens during the EOS launch.
As some of you may know, one of the popular cryptocurrency EOS is preparing launch of their own blockchain and will no longer be ERC-20 Ethereum based. There are few things that user has to do, as there is a need for registration in order to claim later the new tokens. Moreover, the ERC-20 EOS tokens will be frozen after the launch. You can read a full analysis on recent EOS price movements and how the mainnet launch will affect the price.
HT Price Analysis
The general price movement for the last couple of days was rather upwards. On Thursday, May 31st the price started to rapidly increase. In a matter of hours, HT went from $3.90 to more than $4.5. The 24 hour growth managed to exceed +20%. Since the beginning of May the price was steadily growing and even managed to not get influenced by Bitcoin's bad situation too much. The run was stopped at $5.43, when due to the whole market going down it dropped to $4 region.
HT/USD Price Chart, Friday June 1st:
The exchange seems to be prospering very well, they are creating and introducing new financial products, they are expanding their work in multiple countries, their token is doing very well on the cryptomarket. It all adds up to a very promising future for HT token and the exchange itself. The token itself isn't designed to be worth much, even with a global usage and high demand, therefore positive predictions would put it at above $10 within a year, while a long term could bring the coin to the $30 region.
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