Since About Capital acquired Huobi Token and Justin Sun was appointed as an advisor, the price of the Huobi (HT) token has literally jumped. Analysts also expect this rise to be gradual. Some expect it to increase by nearly 100%, but is that realistic?

The biggest HT holder in the market

Justin Sun, the founder of Tron, recently joined Huobi as an advisor. After taking office, he said he owned tens of millions of Huobi (HT) tokens. He further asserted that the tokens will play a vital role in the company’s overall strategy.

In an interview with Bloomberg, Sun said he is now one of the biggest holders of HT in the market. Remember that he is not a shareholder of Huobi and above all he obtained the majority of the chips when he joined the company as an advisor. He also said he made a small acquisition when the tokens launched in 2013.

A fundamental role in the development of the company

According to Justin Sun, the Huobi token will become the core value of the platform. It would help, he said, to become one of the best exchanges in the sector . The native token would indeed have a role to play in the company’s future strategy.

For Sun, globalization will be one of the pillars of this new strategy. It’s no big surprise considering that Huobi has long been one of the most popular cryptocurrency exchanges in China Of course, this was long before cryptocurrency mining and trading was banned in the territory. Sun still hopes that China will change its policy, but in the meantime, he thinks it would be better to aim for something else.

Note that the 20th Congress of the Chinese Communist Party will take place on October 16th . Sun expects crypto policy in China to be reviewed, especially with regard to economic and industrial policy. If changes are actually made, then they would be effective within a month or two.

An increase of more than 80% recorded for Huobi (HT)

Can the price of the Huobi Token (HT) increase by 100%?

One thing to note is that the price of Huobi (HT) has increased by almost 88% over the past week. This coincided with Justin Sun taking up a position as an advisor with the company.

Recall that rumors had also circulated when the Chinese cryptocurrency exchange confirmed its takeover by About Capital , an investment company. The rumors in question were that Sun must have been behind the purchase or at least representing the investors. This would tend to explain the fact that he received so many chips when he joined the company. Of course, this is pure speculation.

Incidentally, the rise in price was noted following Sun’s revelations about the number of tokens he held. Indeed, over the last 24 hours, the tokens have recorded a rise of 12%. This brings its market capitalization to almost a billion dollars. The question is: can the increase be 100%? If we refer to the pump of the last few days, this remains highly possible.

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Mohamed SAKHRI

we are passionate about science, new technologies, and web development and how to make money on the internet, we share with you tips, tutorials, guides, concerning the creation of blogs and everything related to Web 3.0 and of course the world of Cryptocurrency

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