Himalaya Coin One Week Analysis

Translated by: MOS  Education Team – Winsun

In the past week, the price of the Himalaya Coin (HCN) has experienced large fluctuations in the range of 30 to 40 US dollars. It is currently about $38, and the highest increase from the lowest point of $28 within a week is about 38%.  Since its listing, the trading volume of Himalayan coins has exceeded 19.4 million, accounting for only about 1.9% of the total issuance this year.  At present, large institutional investors have not yet entered the market, and the market transaction volume is low. The average daily transaction volume is only about 200,000 HCN, and the price is still seriously underestimated.

On November 23, the Federal Reserve Board, the Federal Deposit Insurance Corporation and the Office of the General Inspection of Currency of the Treasury Department of the United States issued a joint statement on cryptocurrency regulation: in 2022, it will provide clearer guidance for banking institutions to intervene in cryptocurrency-related businesses, including cryptocurrency exchange, cryptocurrency and legal currency exchange, cryptocurrency mortgage loan, stable currency issuance, etc.  The Himalaya Exchange anticipates regulatory trends in advance, and is fully prepared for each of the above policies. It is just around the corner to enter the U.S. market in compliance with regulations.

In addition, according to Mr. Guo, HCN has seven upgraded versions in progress, and 11 versions are already in preparation.  Future functions include a variety of stable coins, decentralized digital mortgages, and so on. Furthermore, Himalaya Pay will be launched within 1-2 months, and institutional investors will also enter the market by then. Hence, the price increase of HCN has not yet begun.

Source: https://gnews.org/zh-hans/1704261/

Posted by: Malaca

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