Huobi Token’s [HT] The 86% increase in the past seven days seems to have taken a different turn, thanks to a revelation by Justin Sun.

According to Poloniex’s CEO, he may be the largest HT holder as Huobi Global completes a new ownership transfer. The controversial figure said this statement in a recent interview with Bloomberg.

Sun initially had explained that he did not take over the exchange but only had an advisory role. However, recent activities of the Huobi exchange may indicate that the Tron [TRX] founder had secured a stake in the company.

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This was because Wu Blockhain revealed that about 74 million HT had been transferred to a wallet from Sun. Hence creating rumors of a private transfer.

The Ether scan receipt showed that Huobi sent the tokens worth $583.86 million to the “Poloniex 4” wallet. However, HT didn’t seem concerned about slowing the rise.

At the time of the press, CoinMarketCap showed that HT was 13.85% higher than the price of the previous day. While it previously fell to $7.39, it regained its bullish drive and traded at $7.87 at the time of writing.

Of highs and lows

While there had been a continuous rise in some respects, a few others had lows. According to Santiment, HT’s one-day circulation, which rose to 74.23 million on Oct. declined.

The analytics platform on the chain revealed its circulation was just 93,800 at press time.

Conversely, the HT 24-hour active addresses had not stopped increasing. At the time of going to press, it was up to 339. This translates into the fact that despite some ease in trading, HT was still showing interest in the crypto market.

Source: Santiment

In addition, the reflection of the active addresses may suggest that some parts of the crypto community trust Sun’s judgment. On the exchange section, active deposits seemed to have been taken off. Santiment noted that HT deposits on exchanges were six at the time of writing.

However, it was likely that HT investors might consider selling their holdings in non-custodial portfolios. The exchange offer brought this to light.

According to Santiment data, HT’s supply on exchanges had risen to 16.82 million.

Source: Santiment

Meanwhile, it didn’t look like HT investors would lose that much if the token price fell slightly.

According to the 30-day Market Value to Realized Value (MVRV) ratio, investors who have had the token since early October should still be making a profit. Despite a drop to 19.02%, MVRV showed that more gains were on the way.

Source: Santiment

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