Justin Sun thinks Huobi and Poloniex could merge into one company

The creator of the TRON blockchain, Justin Sun, recently announced that, in his opinion, the two cryptocurrency exchanges Huobi and Poloniex can become one company and continue their ascent to the cryptocurrency Olympus together.

Justin made such a statement in this commentary for The Block. On November 25, well-known journalist Colin Wu also announced plans to merge the two cryptocurrency exchanges. He is sure of this, because he is sure of his sources, who claimed this turn of events.

Justin Sun, in turn, at first did not agree with such information and said that both companies could remain independent, but later the founder of TRON was able to somewhat agree with this scenario.

In 2019, a certain entrepreneur, who was part of a group of investors, acquired the Poloniex exchange. Although Justin Sun initially denied his participation in this transaction, it remains possible that the founder of the Tron blockchain still has an involvement in this event.

Journalist Colin Wu learned that when Huobi Global sold a controlling stake in Hong Kong investment company About Capital Management in October 2022, Justin Sun became the ultimate beneficiary, and the purchase cost $1,000,000,000.

However, Sun denied this in every possible way, and the administration of Huobi Global reported that Justin became one of the members of the cryptocurrency company's advisory board. After that, Colin Wu discovered information about the speech of the founder of TRON in front of representatives of the exchange company. He said that it is worth sticking to the development strategy in which the focus will be on Huobi Token and the exchange should not return to the Chinese market.

Later, the information was confirmed and Huobi made a corresponding statement in which they announced a rebranding and a change in their strategy. Representatives of the company said that they will now try to use Huobi Token as much as possible to develop their exchange, and in their press release, Huobi included a quote from Justin Sun.

Even though Justin denies buying Huobi, he is still helping to improve its position in the market and work to increase the value of Huobi Token. The founder of TRON clearly has a close relationship with Huobi, as he even left a link to this exchange on his Twitter account.

Earlier, we talked about Huobi's success in the cryptocurrency market over the past week. Last Monday, Huobi Token was priced at $4.40 apiece, and the token has gradually built up its power for almost the entire week. The token experienced a solid gain on the 25th, and on November 26, HT was able to overcome the $7.20 mark, which could give some investors more than 60% at the moment. And even after the drop in value to $6.35, Huobi managed to become the leader of the last week, because with this indicator, HT has an increase of 47.5% in 7 days. The total capitalization of Huobi Token exceeds $956,000,000, and the level of intraday trading has consolidated above $47,000,000. HT is ranked 42nd in the list of the top 50 coins with the highest level of capitalization.