By
Chimamanda U. Martha
April 25th, 2024
The official launch of Huobi Prime is scheduled for March 26. It has been announced that TOP Network will be the first project listed.
One of the world’s leading crypto exchanges Huobi Global has announced its plans to launch its selective new coin launch platform dubbed Huobi Prime. The selective token listing channel will start functioning on March 26.
Why TOP Network
It has been already revealed that the first token to be listed through Prime will be TOP, the native token of TOP Network that represents itself a public blockchain platform built for real-world business of any volume and size. Moreover, it also offers reliable and cost-effective cloud communication services.
Ross Zhang, Head of Marketing for Huobi Group, explained their choice the following way:
“While we had a number of really strong candidates for Huobi Prime’s inaugural launch, we were really impressed by TOP Network’s ambitious business model, as well as the fact that it will be the first true high performance public chain with a pre-existing userbase in the millions.”
Today for the majority of public blokchains it is quite challenging to work with high-volume real-world businesses which is a real obstacle preventing them from attracting new users. TOP Network is expected to become the first high-performance public blockchain that will be absolutely friendly for large-scale users.
The team that has developed TOP Network earlier designed Dingtone, CoverMe and SkyVPN — three communication apps the total user base of which amounts to 60 mln users.
After the TOP Network’s Mainnet will be lauched, this user base will be transferred to TOP Network. It is also believed that an impressive number of new developers will be attracted to the TOP ecosystem.
It has become known that Huobi Prime will offer TOP at below-market rates in three rounds. It will be also traded on Huobi Global platform in a pair with the platform’s native token dubbed Huobi Token.
Steve Wei, CEO of TOP Network, also expresed his team’s excitement about their work with Huobi:
“We’ve worked closely with Huobi and they won our trust with their professionalism, open-mindedness, and overall friendliness to projects. We were impressed by Huobi’s positive reputation and strong branding power and we are happy to launch TOP Network on Huobi Prime.”
Huobi Token Up
Though the crypto world is still trying to overcome the consequencies of the crypto winter, Huobi Token is demonstrating rather impressive results. Over the past month it is 113% up.
At the press time it is traded for $2.40 having gained nearly 13% over the last 24 hours. It’s market cap has reached $120 million.
Huobi Prime Vs Binance Launchpad
Huobi Token is quite often compared to Binance Coin that is also growing these days. But there is one more reason to compare Huobi and Binance. It is believed that Binance Launchpad and Huobi Prime are direct competitors but it is not really so.
While Binance works on an initial exchange offering (IEO) which presupposes relying on an exchange or a number of exchanges to raise funds, Huobi has chosen another method.
Huobi Prime is based on Huobi’s own cryptocurrency Huobi Token and does not serve as a platform for crowdfunding.