Hoobi Token can [HT] Overcoming R&D as outflow exceeded 75 million US dollars

  • Huobi Token may lose another round of its already depleted value after the exchange experienced extraordinary outflows.
  • Exchange director Justin Sun tweeted that the company has no interest in research and development.

exchange code for Huobi Global Exchange, Hopi symbol [HT] It lost about 9% of its value dramatically after the stock market experienced massive outflows. According to DeFiLlama, more than $75 million has left the shores of the Houbi platform in the past 24 hours.

The DeFi aggregator reported that the exchange saw an improvement in trading volume on December 15th. But since that period, cumulatively, $204.65 million has flowed in.

Read Huobi Tokens [HT] predict the price 2023-2024

What happens to Houbi Token behind closed doors?

The coin’s decline was due to circulating rumors about internal challenges within the exchange. A few days ago, there was speculation that company executives were aggressively requiring employees to accept cryptocurrency payments.

Also the stock exchange’s manager throne [TRX] The founder, Justin Sun, said that the company is making structural adjustments. Reuters, in turn, Translator Modifications include an increase of 20%. However, the news provider pointed out that Sun refused to confirm or reprimand the performance.

At the time of publication, CoinMarketCap open HT is down 26.27% in the last 30 days. However, the coin rebounded briefly, maintaining a 0.68% decline in the past hour. However, probabilities from the daily chart showed that there might be more declines in the coming days.

This is proven by the Directional Movement Index (DMI) indicators. At the time of writing, the positive DMI (in green) is 8.87. In contrast, negative DMI (red) was much higher, at 36.16.

With this situation, it might not take long before HT notices a price drop. In addition, the Average Directional Index (ADX), colored yellow, maintained a position of -DMI with a value of 42.71. In addition, the Relative Strength Index (RSI) indicated an oversold level at 32.21. Therefore, a significant recovery may be unlikely.

Source: TradingView

Are your holdings blinking green? Check out the HT Earnings Calculator

The sun in a CZ shoe

Sun, who only joined the Huobi team last year, described the persistent rumors as nothing more than a FUND. Indirect answer, Sun mock them Binance CEO CZ, whose exchange recently experienced something similar. He said,

“It is important to realize that the world of crypto can be volatile and uncertain at times. There will always be ups and downs, and it is easy to fall into the fear, uncertainty and doubt (FUD) that can come with it.”

In follow-up tweets, the TRON founder said that the exchange is doing its best to turn a blind eye to these types of “distractions.” Instead, its focus has been on continuing to meet users’ demands.

TRON’s stablecoin, USDD, also appears to have been affected by the decline as it lost its peg to the dollar. This has been Not the first time That the stablecoin has been a victim of wrongdoing. at the time of publication, USDD value It was $0.98.

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