Huobi Token Price Increases Due to TOP Network Listing on Exchange’s IEO, Huobi Prime
Huobi, one of the most popular digital currency exchanges in the market, will be launching its first fundraising event tomorrow on March 26. Huobi has created a platform called Huobi Prime that aims at allowing users to participate in Initial Coin Offerings (ICOs). The largest exchange, Binance, has recently unveiled its Binance Launchpad project that has gathered the attention of many investors around the world. Other exchanges decided to follow a similar path as Binance.
Huobi Token Price Grows
In a recent press release uploaded by Huobi Global, they inform that they will be listing TOP Network through Huobi Prime. The platform aims at exploring the blockchain application and gathering industry resources to promote the development of the blockchain ecosystem.
One of the main differences with Binance Launchpad is the fact that Huobi will not be issuing tokens per se. The exchange will be listing them directly Huobi Prime for trading. At the same time, the company will be sourcing non-security blockchain assets and list them against the Huobi Token (HT) for public trading.
The platform will also be introducing a new feature called “Price Limit” rounds. With it, the intention is to reduce fluctuation and volatility in the price of the digital currency. The toke will be traded in a specific price range and users will have the possibility to execute market orders.
It is worth mentioning that Huobi users that want to participate will have to hold a daily average of 500 HT tokens throughout the last 30 days prior to the trading session. Due to the fact that TOP Network is the first digital asset to be launched through this method, this rule will not be applying.
Now, the TOP Network will be the first project that is launched using Huobi Prime. Users will not be able to purchase more than $1,000. There will be three price limit round in which the price of the new token will have a price of $0.00177, $0.00213 and $0.00255 as a limit. If there is enough demand, users might be able to profit purchasing funds during the first round.
Huobi Token (HT) is the 51st largest digital currency in the market. It has a market capitalization of $124.83 million and each HT can be bought for $2.5. Since March 1st, HT has increased more than 88%.