In the volatile cryptocurrency market, it can be tough to track down why coins are rising and falling. Today, we’re looking at four cryptocurrencies that are up more than 20% in the last week to see what’s happening behind the scenes.
Huobi Token (HT)
Huobi Token is up more than 32% in the last seven days, according to the latest numbers from WorldCoinIndex.
The jump follows a series of announcements. Huobi is launching its own crypto-based ETF, designed to let retail investors buy buckets of coins on its exchange without having to purchase them individually. The company also unveiled a new partnership with NewMargin Capital and Kiwoom Securities to launch a $93 million fund for blockchain startups in China and South Korea.
Huobi also announced it’s launching its own public blockchain called Huobi Chain. The company is investing $100 million in tokens to make it happen.
VeChain is up more than 20% in the last week.
The team has confirmed that the platform is still aiming to release its mainnet software on June 30th.