Huobi Token Soars 22% Following Latest Developments (Market Watch)

Huobi Token Soars 22% Following Latest Developments (Market Watch)


After yesterday’s price dip below $19,000, bitcoin has failed to produce any significant gains and remains stuck around that level.

Most altcoins also sit quietly today. Among the few exceptions is Huobi Token, which has skyrocketed by double digits on a daily scale once again.

Bitcoin Down at $19K

Bitcoin had jumped above $20,500 to mark a three-week high on October 6 but failed to continue upwards and ultimately reversed its trajectory. This came along with the latest US job reports, which, even though beat expectations, pushed BTC south by around $1,000.

Although it tried to recover some ground in the following hours, BTC returned to $19,000 once again and even dipped below it yesterday for the first time in over a week.

Since then, it has been unable to produce any substantial price gains but still stands north of that line. Its market cap is still at $365 billion, and its dominance over the alternative coins is below 40%.

BTCUSD.  Source: Trading View
BTCUSD. Source: Trading View

HT Takes Main Stage

The alternative coins have been quite stagnant lately, and the past 24 hours haven’t really changed that trend.

Ethereum dipped below $1,300 yesterday, and today’s minor increase has not helped the second-largest crypto to go back above that line.

Binance Coin, Ripple, Cardano, Polkadot, Shiba Inu, Tron, MATIC, and Solana have remained essentially at the same price points as they were 24 hours ago.

Dogecoin is slightly in the green, which was probably caused by the latest adoption from an Elon Musk-spearheaded company.

Huobi Token, in contrast, stands out as today’s best performer from the top 100. The asset has been on a roll since the latest developments reported by Crypto Potato earlier this week, and another 22% daily surge has driven it to $6.5 – a multi-month high.

Terra (LUNA) is also up by double digits, followed by HBAR (8% daily increase). The overall crypto market cap seems stuck at $920 billion.

Cryptocurrency Market Overview.  Source: Quantify Crypto
Cryptocurrency Market Overview. Source: Quantify Crypto

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Cryptocurrency charts by TradingView.


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