Huobi Is Taking Notes From Binance
I love Binance, not only did they take the world by storm last year and in the process became the world’s largest crypto exchange, they have a great CEO, Changpeng Zhao (aka "CZ") and are constantly innovating.
Despite the Crypto bear market in 2018 and despite 70% of ICO projects failing, ICOs were still able to raise over $10 billion in 2018. This might be exactly why Binance launched their own ICO ecosystem called Launchpad. And it make sense...projects have immediate access to potential funding from Binance’s 10 million users.
Huobi is a Singapore-based cryptocurrency exchange and does about $1 billion in trades on a daily basis. Although Singapore is the world’s mecca for crypto, Huobi want to remain relevant and recently launched their own token platform called Huobi Prime.
Singapore-based cryptocurrency exchange, Huobi, is following in Binance’s footsteps by creating a token sale platform of its own called “Huobi Prime.” 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.
A recent surge in HT trading volumes also makes the newfound interest in the exchange coin apparent. In the last 24 hours alone more than $170 million worth of HT has traded hands – a value close to $50 million more than its entire market capitalization of $125 million, according to CoinMarketCap.
Huobi is up more than 100% this year, is there room for further upside, the chart suggest to go long on a pull back to the 0.00054 Btc or 0.00052 level.
This post is my personal opinion. I’m not a financial advisor, this isn't financial advise. Do your own research before making investment decisions.
The recent successes of a number of IEO (Initial Exchange Offerings) have made these platforms once again become a source of crowdfunding. It has gotten a number of projects and investors excited about the potential given the customer base built over the last two years.
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I have lost touch with ICO and IEO and will stick with the bell weather blockchains at this time.