Huobi token (HT), the native token of cryptocurrency exchange HTX, has surged 25% to a five-month high of $2.95 following a rapid increase in trading volume. HT, which recorded an all-time high of $34.8 in 2021, has now broken a persistent 12-month downtrend as the wider crypto market signals the etchings of the bull market. HTX advisor Justin Sun told CoinDesk that he "has no idea" why the token has risen so much. Daily trading volume for HT has reached $32 million to mark the highest volume trading day since February. Last week's trading volume ranged between $2 million and $5 million as the token languished down at $2.40. There is no clear news catalyst for the recent rise in price.
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