Home Market Op-Ed Huobi Token pumps in advance of Huobi Prime launch

Huobi Token pumps in advance of Huobi Prime launch

Huobi is starting up its Prime platform next week. Huobi’s HT asset has pumped over the past month, possibly in correlation to the launch. In a recent report, CoinDesk noted the utility and price increase of Binance’ BNB asset, and the exchange’s new Lauchpad activities. CoinDesk also pointed toward Huobi Token’s (HT) recent pump, with Huobi Prime’s launch just around the corner, hosting the TOP Network (TOP) sale.

A renewed exuberance

Project asset launches on exchanges seem to be the new fad in the crypto world. Crypto Insider recently reported on Crypto Bobby YouTube host Rob Paone’s sentiment that these new offerings from Binance Launchpad may have sparked a bit of initial coin offering (ICO) exuberance again in the market. Binance’ BNB token also has done quite well this year, in possible correlation to Launchpad activity.

Now, Huobi looks to get in on the action with its upcoming Huobi Prime launch. According to the report, Huobi Prime will open up on March 26th, starting with the Top Network token offering.

Huobi Token on the platform

Concerning the Huobi Prime platform in general, CoinDesk noted: “Not only will Huobi Prime enable purchases via its native token HT, the platform will take things one step further by allowing purchased tokens to be instantly tradeable in HT markets.”

Prime parameters

A statement from Huobi Global detailed the March 26 Top Network launch on the Huobi platform. The statement noted four “listing rules” for the Prime platform. Interestingly, the third rule speaks of a “Price Limit” to protect against “severe volatility.”

The statement explained:

To foster fair price discovery, and to avoid potential risks brought to users by severe volatility, we will introduce “Price Limit”. There will be three “Price Limit” rounds, each having 30 minutes and a price range (Highest tradable price). Users are able to trade in the pre-determined price range. In principle, the highest tradable price shall be no lower than that of previous round.”

There is a possible correlation between the new launch and a hike in price for the HT asset.

HT 2019 price action

On March 19th, Huobi’s Twitter account posted about the March 26 Huobi Prime launch. The HT asset saw a noticeable amount of price action around the same time period the tweet came out, as seen in the Huobi-Tether 4-hour candlestick chart pictured below.

Image Courtesy: Tradingview.com

Additionally, the HT asset has seen a sizeable jump in price overall in 2019 so far, noted in its daily candle chart.

Image Courtesy: Tradingview.com

 

The above is to be considered opinion and not investment advice in any way, as an unbiased media, no one interferes with the Editorial content of CryptoInsider.com, writers have freedom to choose their own direction, members of Crypto Insider do not participate in trades based on content.

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BTC: 1HozPdTTJahPigLXwMShErhubZLobBhFPL
ETH: 0xDf4d2529D777a80717E85Ed2269830ad6265951B
LTC: LMT3LCbCSvActkVo4dgzbHjn1HPrCgKch2
BCH: 17sFsLgZq9jibtqi5Bo5SiUcCD4TG8RQwE

Benjamin Pirus
Benjamin Pirus
BJ is a full time writer, editor, and trader in the cryptocurrency space. He has written many professional articles for numerous ICOs, news sites, and other interested parties in the crypto space. He is also a trader, staying up to date with the crypto markets constantly, and dabbling in traditional financial market trading occasionally.

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