Factors that could potentially lead to another significant dro | FREE SmartviewAi, Money King and Crypto Aman Premium Signals

Factors that could potentially lead to another significant drop in the value of cryptocurrencies

1. Huobi confirmed that it will cut its employee base by 20%

2. Reports that Huobi was dramatically cutting headcount and closing internal communication channels caused a decrease in its exchange token and trading volume

3. Justin Sun, an adviser for Huobi, initially denied the layoffs, but the company later confirmed its plans

4. Huobi's HT token has fallen by nearly 11% in the last 24 hours and is down 30% over the past month

5. The exchange's normalized volume during the last 24 hours has decreased by 23% to $395 million from $510 million.