Huobi Global
Huobi has for many years been a leading cryptocurrency exchange based in China. Founded in 2013, the exchange has seen rapid growth with the expansion of crypto into the spotlight and volumes increasing dramatically year on year. Rival exchange Binance began spreading out worldwide to increase its customer base, with Huobi’s main market remaining domestic. After the governmental decision to make all crypto transactions illegal in 2021, both Binance and Huobi halted all service to the Chinese community, dramatically affecting the latter’s volumes and user numbers. There were already rumors that the founder, Leon Li, was looking to sell his majority share of the company for $1 billion, valuing the exchange at $3 billion.
About Capital
Founded by Ted Chen, who also started the hedge fund giant Greenwoods Asset Management, this Hong Kong-based fund management will now become the controlling entity of the Huobi Global exchange.
According to an announcement by the About Capital team themselves, the buyout won’t affect the core operation in any way. However, it will “embrace a series of new international brand promotion and business expansion initiates” which will likely push the exchange to the forefront of the international market.
“We believe the successful acquisition by About Capital… will contribute to Huobi’s global expansion” Leon Li said in a statement.
Uniglo Listing
All of this spells good news for new launching projects such as Uniglo, which will undoubtedly be seeking Centralized Exchanges (CEX) to list upon after their launch. With changes in the Huobi mindset to drive growth and Uniglo already showing solid performance in their presale stages, it would be beneficial for both platforms to drive volume and exposure.
Uniglo is a treasury-backed token that will invest in real-world tokenized assets to sustain the market cap valuation. With an Ultra Burn system in place and zero emissions, these deflationary tokenomics will likely create a significant upwards price trajectory for GLO.
Conclusion
With the market in disarray currently and exchanges looking for new ways to expand and drive volume, this move from About Capital could ease the process for quality and genuine new projects like Uniglo to list onto Tier-1 exchanges in the future, benefiting everyone involved including investors.
Learn More About Uniglo.io Here:
Join Presale: https://presale.uniglo.io/register
Website: https://uniglo.io
Discord: https://discord.gg/a38KRnjQvW
Twitter: https://twitter.com/GloFoundation1
Telegram: https://t.me/GloFoundation
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