Can Huobi Token [HT] overcome FUD as exchange outflow exceeds $75M
January 7, 2023
By Suzuki Shillsalot
Read Huobi Token’s [HT] Price Prediction 2023-2024
Huobi Token could lose another round of its already depleted value after the exchange experienced unusual outflows.
Exchange director Justin Sun tweeted that the firm was unconcerned with the FUD.
The exchange token of the Huobi Global exchange, Houbi Token [HT] drastically lost about 9% of its value after the exchange witnessed massive outflows. According to the DeFiLlama, over $75 million left the shores of the Houbi platform in the last 24 hours.
The DeFi aggregator reported that the exchange experienced improved volume on 15 December. But since that period, cumulatively, $204.65 million streamed out.
What is going on with Houbi Token behind closed doors?
The token plummet resulted from rumors flying around about internal challenges within the exchange. A few days back, there was speculation about executives at the firm forcefully asking employees to accept payments in crypto.
Also, Director at the exchange and TRON [TRX] founder, Justin Sun, said that the company was making structural adjustments. Reuters, in turn, translated the adjustments to mean a 20% layoff. The news provider, however, noted that Sun had declined to confirm or rebuke the notion.
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