Original｜Odaily
Author｜It’s over
With the advent of the bull market, tokens in different sectors have made great efforts, and platform coins are undoubtedly the most prominent sector among them. Coingecko data shows that the market value of centralized exchange platform coins has reached US$106 billion. The new platform currency HTX launched by Huobi Exchange has quickly become the focus of the currency circle with its unique market positioning and innovative strategies.
Last week, a blog post published by John Squire, a well-known KOL in the encryption field with 500,000 followers, deeply explored the potential of HTX and its future role in the encryption market, bringing the value behind HTX into the public eye. This article will explore the market performance, strategic layout and prospects of HTX, analyze why HTX is a hot spot in this round of crypto bull market, and how the Huobi HTX exchange behind it will empower it.
Opening up the second curve of growth, HTX’s potential performance
HTX DAO (HTX) is a new platform currency launched by the old exchange Huobi HTX. Since the establishment of HTX DAO in January 2024, its performance has been attracting attention. HTX is the HTX DAO governance token and the new platform currency of the HTX exchange. This is a brand new attempt by HTX Exchange, which is to rely on its strong strength and trading volume to issue new tokens, thereby opening up a second curve of growth.
Currently, HTX’s FDV has reached approximately US$1.37 billion, with a 24-hour trading volume of 46.56 million, and a current price of US$0.000001374. It has been listed on dozens of major exchanges including Bybit and Gate.
24 hour price action for HTX. Source: Coingecko
John Squire mentioned in his research report: HTX DAO adopts a unique liquidity donation mechanism and decentralized design concept, which is expected to bring greater value to HTX over time. This is thanks to Justin Suns rich experience in encryption project management and the advanced design of the DAO mechanism John Squire believes that judging from the release time of HTX DAO, HTX is still in the early stages of development and has not yet entered the explosive growth stage, which is a long-term investment. Provides good entry opportunities.
As far as the Huobi HTX exchange behind it is concerned, Huobi HTX, which itself is an established exchange, has not only consolidated its market position during this bull market cycle, but also achieved significant business leaps.
According to Coingecko data, HTX ranks 4th among global centralized exchanges in terms of 24-hour trading volume, and its Trust Score reaches a perfect score of 10, ranking ahead of exchanges such as KuCoin and Crypto.com, reaching more than 3 billion US dollars. The level reflects the size and credibility of the exchange.
Coingecko Exchange Ranking. Source: Coingecko
Meanwhile, HTX will perform particularly well in the first quarter of 2024, with quarterly revenue growth expected to reach 42%. This outstanding financial performance not only reflects the strong operational capabilities of HTX Exchange, but also indicates the continued rise in the value of its platform currency. This revenue growth provides solid support for the HTX platform coin while also demonstrating its expanding strategic position in the global crypto economy.
Judging from the current point of time in April 2024, it is obvious that the cryptocurrency market has entered a very critical period: Bitcoin has been rising since February, rising from a price of 40,000 to nearly 70,000, exceeding the previous highest price. Although it has recently There has been a slight correction, and market sentiment generally believes that Bitcoin may reach 100,000 in this cycle. At the same time, new currency leaders continue to emerge, such as Rune and Solana on-chain Meme and other hundred-fold and thousand-fold coins. Choosing an old, reliable and timely exchange has become a common demand for crypto market users, and this is also the key to crypto tokens. Best support.
From the perspective of currency listing, HTX has surpassed Binance and OKX in the speed of listing new coins since 2023. The newly listed tokens not only cover mainstream blockchain projects, but also include the popular MEME tokens. More than 85% of these new coins have increased by more than 5 times, and some have even increased by more than 100 times, such as tokens such as WIF and GTA.
In the rapidly changing and competitive Meme currency market, the time it takes to list coins means rising profit margins in the future. The speed of listing an exchange’s coins is not only a reflection of its technical strength, but also its keen insight and understanding of market dynamics. Direct evidence of strategic decision-making ability.
In this race, Huobi HTX performed particularly well: taking the recent Meme leader WIF as an example, KuCoin and Bitget only started trading WIF currencies on January 18 and January 24 respectively. In comparison, Huobi HTX The reaction speed of Coin HTX is significantly faster. Huobi HTX completed the listing of WIF on January 10. At that time, the price of WIF was still fluctuating around $0.2, and now it has reached $2.8. The spot increase alone has reached 14 times. This forward-looking market judgment and rapid execution not only make great use of market opportunities, but also provide its users with huge investment return potential.
At the same time, HTX has also demonstrated its strong market promotion capabilities in event planning and organization. In the first quarter of 2024, the number of activities on the HTX exchange increased significantly compared to 2023, reflecting its activity and participation in the cryptocurrency space. Specific data shows that HTX held 70 events in January, 53 in February, and 79 in March. This continuous growth in the number of activities not only enhances user participation and loyalty, but also effectively increases the platforms visibility and market share.
The bull market has arrived, and the mechanism behind HTX has helped it skyrocket
In terms of staking, Huobi HTX exchange provides users with a low-threshold, low-risk participation method through its innovative staking mechanism. Users only need to deposit tokens into their HTX account to obtain staking rewards, which not only simplifies the operation process, but also effectively releases the liquidity of funds. In addition, HTX Exchange also introduced two major strategies: liquidity donation and transaction mining, which significantly promoted revenue growth and price stability.
In terms of specific operations, HTX uses its liquidity commitment mechanism toSUN.ioInvest funds in the TRX-HTX liquidity pool and destroy the LP tokens obtained, ensuring that at least 50% of quarterly revenue is used for liquidity contributions. This strategy not only provides long-term liquidity support for HTX, but also helps maintain market price stability.
The “trade mining” strategy allows users to earn additional HTX by paying excess fees when trading the BTC/USDT trading pair. This strategy further promotes revenue growth and price stability through the token’s buyback and destruction mechanism. At the same time, HTX Exchange will also transfer some of the original HT rights and interests to HTX, including using HTX to pay transaction fees, increasing the annualized rate of return of HTX financial products, accelerating Prime upgrades and other benefits.
HTX is hot, what is the market response?
The cryptocurrency market also reacted positively to the research report.
Ethereum Lao Zhang.eth on the He believes that TRON (TRX), as a well-known blockchain network, currently has a market value of billions of dollars, and its TRC 20 standard has also become a commonly used network for our wallet transfers. TRX has stood out from many public chain projects in 2017, proving the staying power of its technology and market. Looking back on that period, there are very few public chain projects that can continue to operate to this day, which is enough to prove the capabilities of the TRON team and Justin Sun. He also believes that I have been paying close attention to the development of HTX since Justin Sun started laying out the exchange. As the founder of HTX DAO, Justin Sun is obviously making a larger strategic layout. “Aside from TRON, HTX may be one of his most successful strategic arrangements in the future.”
In addition, user Entropy Vincent on Some innovative measures such as transaction mining have brought a lot of traffic funds to the platform. HTX DAO is still in its infancy, and the long-term growth potential remains to be seen. Brother Sun, come on, realize the original plan of HTX DAO as soon as possible. It is only a matter of time before HTX rises!”
A comment from Baili said, The HTX exchange has made good progress this year, and the $HTX token also feels that there is a lot of room for appreciation. In particular, the reform and development work after Brother Sun took over has shown results, and HTX has made great progress in various fields. There has been a significant improvement in all aspects, the number of activities has increased, and it keeps pace with hot spots. If we optimize the platform issues, I believe it will go further and better.
An insider said that HTX undoubtedly has huge development potential. It not only has widespread popularity, but also has strong financial support. Given these advantages, it is likely that Justin Sun will continue to empower HTX, otherwise he would not choose to launch such a new token. However, HTX also faces a series of internal and external challenges and still has a long way to go. It will be crucial for investors to pay attention to the future development of HTX and understand the market environment and potential risks it operates in.
Conclusion: I look forward to HTX becoming a highlight.
As an emerging cryptocurrency, HTX carries the new ambitions of the established Huobi exchange and its promoter Justin Sun. Through innovative liquidity donation and transaction mining strategies, HTX not only provides users with new ways to add value, but also injects new vitality into the crypto market.
While HTX may face challenges along the way, as many successful crypto projects throughout history have shown, with the right strategy and continued hard work, it will eventually realize its market potential. For investors on the sidelines, now is a good time to take a look and evaluate HTXs long-term value.
In the next few years, HTX will be one of the focuses of attention in the encryption field. This will also provide an important reference for the development direction of the entire cryptocurrency market, especially exchange platform coins.
