\* Source: Kaiko‘s Q2 2024 Exchange Liquidity Report
It is reported that the Kaiko report analyzed exchange liquidity using five key metrics: trading volume, trading volume contribution, market depth (+/-1), coefficient of variation (CV) dispersion, and market quality. In response, HTX stated that the platform will remain committed to prioritizing security and regulatory compliance as it continues to expand its global footprint. Furthermore, it aims to deliver a comprehensive, safe, and user-friendly crypto trading experience for an ever-growing base of customers worldwide.
Highlights HTX’s Performance in the First Half of 2024
Looking back on the past six months, HTX has achieved remarkable results.
\* The image displays statistics from May 27 to June 3, 2024, for reference only.
HTX upholds its “user-first” principle when listing new cryptocurrencies, showcasing the core competitiveness of the “People’s Exchange” with huge wealth effects. When selecting and listing new assets, the platform is dedicated to identifying new cryptocurrencies and quality assets across various sectors, including Meme, AI, public blockchains, Layer 2, and more. Data from Q1 2024 reveals that HTX has already introduced 59 new cryptos, with almost half of these experiencing price surges of over 1,000% from their initial levels. Topping the list of gainers is WIF, a Meme project from the Solana blockchain, boasting an astonishing 12,039% price increase.
\* Source: HTX Official Website – Asset Audit Page
In addition, as of June 1, 2024, HTX has completed 20 asset audits. The latest Merkle tree-based proof of reserves data is as follows: 100% for USDT (HTX wallet balance: 610,174,986), 100% for BTC (HTX wallet balance: 25,735), 101% for ETH (HTX wallet balance: 92,631), 105% for HTX (HTX wallet balance: 360,938,524,569,165), and 105% for TRX (HTX wallet balance: 9,754,300,787). The data for USDT and ETH already includes stUSDT and stETH.
Also noteworthy is the recent establishment of the HTX DAO People Committee, which has garnered widespread attention from both the broader market and the community. Formed just over a month ago, this committee has rapidly solidified its position as a pivotal driving force within the community. The HTX DAO People Committee, dedicated to championing the community’s interests in the long run, is spearheading HTX’s ongoing transition toward greater decentralization and democratic autonomy.
Emphasizing HTX’s recent achievements, Justin Sun, a distinguished member of the HTX Global Advisory Board, shared the following insights on social media: 1. HTX has been performing exceptionally well in listing new assets, with cryptos showing 10x potential price increases consistently appearing on the platform every week. (2) The exchange has experienced continuous net inflows of capital for the past 6 months, a trend Justin Sun views as compelling evidence of users’ strong satisfaction with HTX’s services. (3) The platform’s profitability has soared by over 100%, prompting the implementation of buyback initiatives.
HTX Aims to Become Synonymous with Quality Assets
HTX’s business representative and senior investment analyst, @HTX_liuyego, highlighted that the Kaiko report serves as a well-deserved accolade for HTX. After overcoming a challenging period, this recognition not only bolsters HTX’s confidence in its future development but also fosters a sense of reverence within the team.
According to @HTX_liuyego, HTX’s future development will focus on the following aspects:
Listing of high-quality assets. HTX will maintain stringent criteria for the listing of new assets, overseen by a highly proficient project screening team. Justin Sun, a member of the HTX Global Advisory Board, is one of such experts involved in this meticulous selection process. HTX strives to be recognized as the go-to platform for premium digital assets.
Product optimization. HTX has taken user feedback to heart and made significant improvements to enhance the overall user experience across various products and services. One notable issue that has been successfully addressed is the previously cumbersome withdrawal process, which has now been satisfactorily resolved. Furthermore, HTX has transitioned from its previous complexity to a more user-friendly approach in designing platform events.
Enhance depth. The platform has maintained its focus on enhancing depth to attract more reputable market makers and broker teams, thereby providing users with a seamless trading experience.
Safety and security are the cornerstones of the platform. After the hacking incident last year, HTX has taken concrete steps to enhance its security. On the hardware front, the platform has collaborated with the renowned international security firm FearOff to bolster its security infrastructure and safeguards. On the software side, HTX has made a firm commitment to providing 100% fund protection for its users.
@HTX_liuyego summarized, “HTX is on a positive trajectory, time will tell. Have faith in HTX.”
It’s undeniable that cryptocurrency exchanges, the most lucrative sector in the crypto industry, are also recognized as fiercely contested arenas. Since the inception of the first cryptocurrency exchange to the present day, the exchange business model has undergone dramatic changes, with rises and falls occurring in the blink of an eye. While industry giants like Coinbase and Binance currently dominate the crypto space, the overall landscape of the exchange business remains unsettled.
HTX, a veteran that has weathered the crypto market for nearly 11 years, stands as a testament to the industry’s evolving narrative. It has evolved beyond being merely a trading platform; it has become a legend that embodies the dreams and memories of countless investors. HTX firmly believes that true value lies not in short-term price fluctuations but in long-term development and contribution. Moving forward, HTX will continue to collaborate with global partners to drive the evolution of cryptocurrencies and blockchain technology, creating more value for users and ushering in a more open, inclusive, and vibrant new era of crypto.
The post first appeared on HTX Square.
