Huobi Token soars by more than 3% today: Here is why

  • Huobi Token is the best performer amongst the top 100 cryptocurrencies by market cap so far today.

  • The Huobi crypto exchange is set to lay off 20% of its workers amidst the crypto winter.

  • The broader crypto market could end the week in the red zone as prices tumble.

Huobi to cut 20% of staff

Tron founder Justin Sun told Reuters earlier today that the Huobi crypto exchange is set to lay off about 20% of its staff. Sun is a member of Huobi’s global advisory board, and he revealed that the move is part of the company’s structural adjustment to the current market conditions.

This latest cryptocurrency news saw Huobi Token, the native token of the Huobi exchange, rally by more than 3% in the last 24 hours. HT is the best performer amongst the top 100 cryptocurrencies by market cap today. At press time, the price of Huobi Token stands at $4.85. 

The broader cryptocurrency market has been underperforming over the last few hours. The total crypto market cap currently stands at $814 billion, down by less than 1% in the last 24 hours.

Key levels to watch

The HT/USDT 4-hour chart is bearish despite its positive performance over the last few hours. However, the technical indicators show that HT is outperforming the broader market.

The MACD line is below the neutral zone, indicating that the bears are in control. However, with the line moving upward, the bulls are aiming to regain control of the HT market.

The 14-day relative strength index of 38 shows that HT is currently out of the oversold region. 

If the bullish trend continues, HT could surge past the $5.08 resistance level in the near term. However, it would need the support of the broader crypto market before it can breach the $5.4 resistance level over the next few days. 

Where to buy Huobi Token now



Skilling is a Scandinavian based cryptocurrency broker which has a desktop website as well as apps for iOS and Android devices. It supports over 50 cryptocurrencies and it has a demo account to allow users to gain familiarity with the platform. Skilling has no hidden fees, it is an officially regulated broker and it supports a wide range of payment methods.

Buy HT with Skilling today


Kucoin is a cryptocurrency exchange which offers over 200 cryptocurrencies. Kucoin has a wide range of services, such as; a built-in peer-to-peer exchange, spot and margin trading, bank level security and a wide range of accepted payment methods. Users can benefit from a beginner-friendly interface and relatively low fees.

Buy HT with KuCoin today

All Dutch and English crypto news!

UK’s FCA hints at why its given only 15% of crypto firms the regulatory nod

Despite the plans to turn the region into a bustling crypto hub, the United Kingdom's financial watchdog says it has given the all-clear to only...

CFTC’s Johnson urges Congress for expanded powers in crypto oversight

Commodity Futures Trading Commission (CFTC) Commissioner Kristin Johnson has urged Congress to adopt legislation that "closes the current gap in the oversight of crypto spot...

US Senator Ted Cruz pushes for crypto in Congress… using snacks

Texan Republican Senator Ted Cruz is pushing the United States Congress to adopt cryptocurrency within its halls using an incentive both sides might agree on...

Coinbase fined for operating in the Netherlands: here’s why

Dutch Central Bank announces a $3.6 million fine on Coinbase. It says the crypto exchange has been in a regulatory violation. Shares of Coinbase Global Inc ended...

Beste exchanges

Koop je crypto bij Bitvavo