Will it be used on the cryptocurrency market?

Surely, but the resources needed are not given to everyone. Mainly banks, hedge funds, etc are using it. In the US they even use what we use to call the "dark fiber" to give a super-high-speed internet connection. Oh, I should mention, the infrastructures are paid with citizens' taxes. It's like if during a war you pay the tanks for your enemies.
It also needs very developed algorithms and I'm not exaggerating telling you some worth more than a million-dollar
When these entities will enter the market, it is more than likely that they will use the same methods in their race for profits.

Will it face any problem?

I don't see why. If this is not a problem in traditional finance there is no reason it should be any different in the crypto market.
Except for the problem that we could ask ourselves some ethical questions. Namely that as in finance it disadvantages people who do not have the resources I was talking about previously. We will not be on an equal level.
But since people don't seem to care, I don't see why they would start when HTF will be used with the crypto market. Perhaps it's already in use without we notice it.