The internet is inching closer and closer to its next stage, the so-called Web 3.0, or simply Web3. According to experts, this next step in the evolution of the web will run on blockchain technology, and it will be the most decentralized form of the internet that the world has ever known.
However, there is a lot of work, development, and innovation that is needed in order to make that happen. Huobi Incubator, a professional investment incubator developed by Huobi Global, has decided to help make it happen. To do it, the project has teamed up with Octopus Network — a multi-chain network providing leased security and interoperability to Substrate appchains.
🔥Huobi Incubator @huobi_incubator & #Web3Scholarship is collaborating with Octopus Network @oct_network on the #OctopusAcceleratorProgram to support #Web3 start-ups! 🔥
⏰Feb 28-Apr 18
💰$250,000+Stay tuned for more!
— Huobi (@HuobiGlobal) February 15, 2022
Together, the pair will work on the Octopus Accelerator Program which is meant to support Web3 start-ups.
Huobi Incubator and Octopus Network are pushing Web3 projects
Octopus network is strongly committed to unleashing a new wave of innovation that will eventually bring forth Web3. Its Octopus Accelerator Program has been a long-lasting initiative that started with the launch of the program’s first cohort in December 2021. Now, the company is ready to take the next step with its program.
The first cohort has seen five projects receive the Octopus Star Prize, including Myriad Social and DeBioNetwork, both of which managed to complete fundraising and launch their mainnets, becoming pioneers in the Web3 sector.
As the program enters its second cohort in partnership with Huobi Incubator, the two expect to see similar success.
Like Octopus Network, Huobi Incubator has also been rather committed to incubating projects from the Web3 field. This was one of its main goals since the incubator was established, and so far, it entered five partnerships with major organizations and companies with the goal of launching the Web3 Scholarship. With the Scholarship, Huobi Incubator can help the projects in this field by providing support and funding that promising and innovative projects need in order to stand out and help bring Web 3.0 closer to being a reality.
According to Huobi Indicator’s Jewel Chen, the project’s belief in Web3 has extended to empowering emerging projects that run on other public chains. Its goal is to boost the development of these projects regardless of the network they chose to emerge on.
Now, its synergistic partnership with Octopus Network represents a continuation of these efforts, which will ultimately allow all internet users in the world to benefit from the innovation and developer talent that the two projects are supporting today.
Huobi Token price performance
It might be the recent news or perhaps the Huobi Token’s potential itself, but HT has seen a much better performance than most cryptocurrencies in the first month and a half of 2022.
The token started the year with a price of $9.43, and after managing to remain stable or the first five days of January, the token saw a drop towards $8.60. Immediately after reaching this bottom, it skyrocketed to the resistance at $10. At the time, it did not manage to breach it, instead it remained stuck between this resistance and a support at $9.8.
The support, unfortunately, broke around January 20th, and the token crashed down to $8.6. After about a week at this new bottom, the token once again started to recover, which led to a surge that took it to $10.2 by February 7th.
After a few days of trying to breach the resistance, the token dropped to the support at $10, eventually breaking it and dropping to the next one at $9.80 for the second time this year. However, over the last few days, HT price rose again, once again approaching the resistance at $10. At the time of writing, HT price sits at $9.95, after growing by 0.5% in the last 24 hours.
To learn more about this token visit our Investing in Huobi Token guide.
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