Huobi Suspends Elastos Deposits and Withdrawals

Huobi Pro temporarily suspends the deposit and withdrawal of Elastos between 12:00 to 20:00 on May 3 due to the technical upgrade of ELA
03 May 2018   1424

Elastos is a cryptocurrency, which was developed as an open-source operating system, with its source code reaching 10 million lines, with blockchain integrated later. It is dedicated to creating a brand-new virtual digital smart economic zone based on the traditional basis of the Internet. The vision of Elastos is to become a "blockchain aircraft carrier" which will support large-scale decentralized applications. 

Today the cryptocurrency exchange Huobi Pro has announced that it will suspend the deposit and withdrawal of ELA between 12:00 to 20:00 on May 3 (GMT+8) due to the technical upgrade of ELA.

The team at Elastos Foundation stated that its developers team will conduct a system upgrade from 13:00 to 19:00 on May 3 (GMT+8) in order to improve ELA Wallet performance, increase its transaction speed and stability. They warned the users that ELA wallet balance or transaction errors may occur, but everything will return to normal after the system upgrade has been completed.

At the moment of the press, these are main market parameters of Elastos:

  • Average price: $48,48
  • Market cap: $248 669 051
  • 24h volume: $20 142 000

Huobi to Launch Argentinian Branch

Argentina is undergoing the financial crisis right now and head of the new branch believes there's a consensus been reached on the rejection of local currency
18 September 2019   182

Huobi Group has continued to expand its network of local cryptocurrency exchanges based on the Huobi Cloud platform, launching a trading platform in Argentina.

Huobi Argentina plans to create a local team and fiat gateway to trade or convert Argentine pesos into cryptocurrencies, the company said in a statement.

The payment channel will be launched by mid-October. It is assumed that users of Huobi Argentina will be able to make deposits using bank cards, transfers and through the most common digital payment systems in the region. Currently, you can purchase cryptocurrencies for pesos through the Huobi OTC service.

The opening of the Huobi cryptocurrency exchange in Argentina came at a time when the economy of this second largest country in Latin America was in a deep crisis. This year alone, inflation reached 55%, and President Mauricio Macri recently introduced new restrictions on access to foreign currencies.

According to Carlos Banfi, head of Huobi Argentina, a consensus has already been reached in Argentina on the rejection of local currency and banking services.

The increasing demand for crypto-related products and services makes Argentina a perfect entry point for Huobi to pursue larger projects in promoting cryptocurrency and blockchain to the market. With the launch of Huobi Argentina, we will be able to first offer local user the opportunity to trade with Huobi’s proven security, liquidity, and stability.

David Chen
Senior Business Director, Huobi Cloud

Earlier, the Huobi Group announced plans to expand its operations in emerging markets and open 150 sites under the Huobi Cloud program. Since the launch of Huobi Cloud in 2018, more than 120 trading platforms have been created on its basis, including in Thailand, Turkey, Indonesia and Russia.