After the crypto exchange said it would provide customers with an airdrop of a new digital token that the Caribbean island of Dominica would release, Huobi Global’s HT token saw a rise in value on the digital asset markets.
The brand-new “Dominica coin,” or DMC, will be released on Huobi Prime, the exchange’s exclusive platform for token offerings, according to Huobi. According to a release, users can use Dominica digital identification documents to finish their identity verification on Huobi.
Over the past 24 hours, the HT token has surged by 15% to $7.12. Within the last week, it has increased by 40%.
The deal is remarkable partly because of its ties to cryptocurrency billionaire Justin Sun. On Sun’s Tron blockchain, where the Dominica tokens are slated to be launched, he reportedly confessed to having tens of millions of HT.
Huobi appointed Sun as the inaugural member of a new global advisory board to direct the exchange’s strategic development.
The HT token would be the sole admissible asset in the subscription of #DMC and granted as the only token of accessing and using in the @HuobiGlobal ecosystem, according to a tweet from Sun on Tuesday.
Happy to collaborate with Dominica government to jointly launch the world’s first national token on #TRON, #DMC (Dominica Coin) on @HuobiGlobal prime! @trondao pic.twitter.com/mRpLUcDkvA
— H.E. Justin Sun🌞🇬🇩🇩🇲🔥 (@justinsuntron) November 29, 2022