Cryptocurrencies To Watch: Week of November 28
The past week has been another tough one for the crypto market, with no signs of a break above current levels in sight. The FTX collapse continues to dominate headlines, and its effects may not subside for some time.
This week we examine Huobi Token (HT), Curve DAO Token (CRV), Litecoin (LTC), Dash (DASH), and Chainlink (LINK). In selecting these assets, we have considered several factors, including, but not limited to, positive technical developments, significant news events, and noticeable changes in price.
The Huobi token (HT) experienced a price increase of over 50% over the past seven days for many reasons.First, Huobi Global issued a press release highlighting that the company would undergo a brand update.The rebranding will focus on renaming the company to just Huobi and giving “full play to the important strategic attributes of HT."
The press release also revealed a global expansion roadmap, which includes creating a presence in the Caribbean region.The company will also increase investments in Southeast Asia and Europe. The expansion will also tackle strategic mergers and acquisitions. The token was trading for $4.25 last week and is now trading at around 6.25.
The Curve DAO Token (CRV) increased by 30% after crypto whales conducted a massive short squeeze on exchanges.The crypto community reported that whales massively plotted a massive short of CRV, then borrowed it on the DeFi platform Aave.They continued to borrow CRV as the prices went down.
After borrowing, they took long positions, buying the CRV on exchange and increasing the price. They then allowed the liquidation of their Aave positions, which further increased the CRV price due to limited on-chain liquidity. The token is currently priced at around
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