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Huobi Token (HT), a cryptocurrency trading exchange asset with an overall valuation of $868 million, recorded a significant uptick in its price after an announcement made by Justin Sun, the founder of the Tron blokchain.
According to data from Coingecko, on November 29, the asset went up by 13% and peaked at $7.22 before entering a correction phase that made it return to the $6 territory.
At the time of this writing, tracking from the online crypto information provider indicates the token is changing hands at $6.63, declining by 2.9% during the previous 24 hours.
Still, the altcoin is sitting on a 20% gain over the last seven days and has tallied an impressive 44.3% jump for the past two weeks.
This momentary surge of the Huobi Token might have been triggered by news of plans to launch a new crypto project.

Sun Teases Debut Of Dominica Currency (DMC)
Using his Twitter account, Sun – who was recently appointed by Huobi to be a member of a new global advisory board – announced the launch of the Dominica coin.
The exchange platform confirmed this development with an official statement, saying that the soon-to-be-released digital asset, which will be called Dominica Currency (DMC), will be introduced to the public via the Huobi Prime – the company’s only platform for token offerings.
There was no definite timeline mentioned as to when the new crypto will be available but the Bitcoin exchange said it will be airdropped to their users.
Along this line, Huobi also said that their users can use their Dominica digital identification documents (DID) to confirm their identities in preparation for the airdrop.
This is not the first time that the Commonwealth of Dominica, an island country in the Caribbean, advanced its crypto adoption programs as it has already made TRON and its associated native tokens legal tender within its jurisdictions.
As Island Nation Anticipates, Interest For Upcoming Project Grows
Although there is no clear timetable for the expected airdrop of Dominica Currency, the excitement for it is undeniable as it comes with a utility feature that is sorely lacking for many cryptocurrencies out there right now.
For its part, the Huobi Token is expected to play a vital role for the good performance and overall success of the DMC that is pivotal in giving holders greater chances for higher return on their investments.
With this development, HT managed to surge in value. Moreover, its technical indicators are pointing at a further climb, although the volatility of the market can once again obliterate all its recent gains.


Crypto total market cap at $808 billion on the daily chart | Featured image from Crypto News, Chart: TradingView.com


Huobi Token (HT), a cryptocurrency trading exchange asset with an overall valuation of $868 million, recorded a significant uptick in its price after an announcement made by Justin Sun, the founder of the Tron blokchain. According to data from Coingecko, on November 29, the asset went up by 13% a...

newsbtc.com

Huobi Token Breaches $7 Marker Following Update On This Planned Coin Unveiling

The exchanges will cooperate progressively in HT coin development, liquidity sharing and global compliance, plus Huobi will monitor Poloniex for new projects to list.

cointelegraph.com

Huobi, Poloniex announced strategic partnership despite initial denials of a merger

Cryptocurrency exchange Huobi announced the launch of the world’s first national token, DMC (Dominica Coin) and Dominica DID, under the authorization of the government of the Commonwealth of Dominica. For the project, Huobi tapped Tron Network and DMC Labs.
According to the official press release, both Dominica DID and DMC were originally issued on the Tron Network. Support cross-chain interaction with Ethereum, BSC, and other public chains via the BitTorrent Chain protocol will be rolled out.
This comes after Tron entered into an agreement with the Dominican government to roll out a national fan token in a bid to promote the island’s heritage and tourism.
Dominica Coin and DID
The TRC 20 standard Dominica Coin will be issued for sale through Huobi Prime. With the help of Dominica DIDs, users can complete identity verification on the crypto exchange. A Dominica DID-verified account benefits from the same rights and interests as an account verified via any other nationality on the premise of compliance with laws and regulations.
Huobi’s statement read,
“With the approval of the Dominica government, Huobi’s globalization strategy will set forth from the Caribbean region to cover Southeast Asia and Europe. While paving the way for full compliance and healthy development for the industry, Huobi is determined to regain its position as one of the top cryptocurrency exchanges.”
Caribbean Emerges as Top Choice for Crypto Exchanges
Over the past several months, the Caribbean has become a hotspot for the crypto industry to set up shop. The latest development comes weeks after the Chinese crypto exchange hinted at its plans to move its headquarters from Seychelles to the Caribbean, citing its “super-friendly” on the digital asset industry.
Huobi representatives recently met with the Prime Minister of the Dominican Republic to talk about how the crypto exchange plans to enhance the infrastructure in the country by relocating 200 out of 1,600 employees to its new headquarters. The move would mark the latest instance of a crypto exchange moving from Asia to the Caribbean in search of a friendlier regulatory environment.
Currently, Huobi has offices in Hong Kong, South Korea, Japan, and the United States, with its headquarters in the Seychelles Islands.
The post Huobi Partners With Dominica to Issue National Token DMC on Tron appeared first on CryptoPotato.

Tron is the designated national blockchain infrastructure of the Caribbean island nation. 

cryptopotato.com

Huobi Partners With Dominica to Issue National Token DMC on Tron

The Commonwealth of Dominica has launched a digital identity program and national token in partnership with Huobi. 

Dominica works with Huobi for digital identity program 

Justin Sun, crypto mogul and founder of the Tron blockchain, has scored another coup. Sun announced a few hours ago that crypto exchange Huobi Global has teamed up with the Tron DAO and DMC Labs to jointly launch the world’s first national token, the Dominica Coin (DMC).
Remarkably, the DMC token is the world’s first national token under the authorization of a national government, in this case the Commonwealth of Dominica.

@HuobiGlobal partnered with @trondao and DMC Labs to jointly launch the world's first national token, #DMC (Dominica Coin).
#Huobi also supports Dominica Digital ID for KYC verification. https://t.co/UFe6QEzIrr
— H.E. Justin Sun (@justinsuntron) November 29, 2022

According to Huobi’s announcement, the token will also be a gateway to the metaverse. For that, DMC provides a Tron network-based decentralized identifier (DID) that will be introduced “in due course.” This is also a first for a nation.
Subsequently, Huobi will also support the Dominica DID for KYC verification. DMC is slated to go on sale with the upcoming Huobi Prime event.
Tron Is The Designated National Blockchain Of Dominica
The issuance of the Dominica DID as well as the DMC token will initially happen via the Tron Network, with cross-chain interaction with Ethereum, BSC, and other public chains to be added via the BitTorrent chain protocol.
However, the Tron Network is “the designated national blockchain infrastructure of the Commonwealth of Dominica.” DMC will thus be based on the TRC 20 standard and is expected to be expanded to include the ERC 20 and BEP 20 standards.

“Our vision for DMC and Dominica DID is that they will serve as an important certificate for users to access the future Metaverse world,” the announcement continued.
Huobi users should be excited about the announcement, as the exchange will airdrop DMC tokens and enable the Dominica DID application to each registered user.
DMC holders will also have numerous benefits at the island state. Among other things, they will have the ability to obtain passports from the Commonwealth of Dominica under the citizenship by investment program.
In addition, the DID will be able to be used to open bank or financial accounts, apply for loans, KYC verification and business registration in accordance with local laws and regulations.
In a future phase of the Dominica metaverse, DMC will also be used as the base token for building the metaverse.
The Relationship Between Huobi And Justin Sun
The relationship between Justin Sun and Huobi has been puzzling the crypto community lately. The exchange with Chinese roots announced last month that co-founder and major shareholder Leon Li was selling his shares.
Subsequently, rumors surfaced that Sun is the new owner. While the crypto mogul dismissed the speculation, voices thickened that he is.

Last but not least, rumors also surfaced that Poloniex, the exchange Sun acquired from Circle in 2019, could merge with Huobi, sources familiar with the matter disclosed.
However, Sun dismissed those rumors as well, stressing that both companies are independent. However, when asked if a merger could happen in the future, he said it is “possible.”
Whether true or not, the HT token in particular experienced a rally recently. While the TRX price is seeing a modest gain of about 3% within the last 24 hours, the Huobi token (HT) is showing a stunning performance.
HT is up 10% over the last 24 hours, and up 46% with the last seven days.
HT is profiting from recent rumors and news. Source: TradingView


Justin Sun, crypto mogul and founder of the Tron blockchain, has scored another coup. Sun announced a few hours ago that crypto exchange Huobi Global has teamed up with the Tron DAO and DMC Labs to jointly launch the world&#8217;s first national token, the Dominica Coin (DMC). Remarkably, the DMC...

Huobi price	$6.64
Low - High 24H	$6.59 - $6.81
Market cap	$870.86M
Volume 24H	$11.34M
All time high	$39.66 -83.25% May 12th 2021
All time low	$0.90862 630.93% January 30th 2019
Genesis date	N/A

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