Broaden your horizons and enter new tracks of TON and Base platforms; practice internal skills diligently and optimize security, liquidity and product upgrades.
Written by: Zhou Zhou
Another year of TOKEN2049 is here, and it is also the 11th year since the establishment of Huobi HTX. In the past two years, Huobi HTX has quickly opened up a wider international market through brand changes, and this year Huobi HTX has set its sights on the newest and most promising track in the crypto industry.
In 2024, a series of new changes have taken place in the cryptocurrency ecosystem. On-chain ecosystems such as TON, Base, and Solana and Meme coin platforms have emerged, and the market's hot spots and directions have changed accordingly. Solana has returned to its peak, relying on innovations such as Pump.fun, and its market value has returned to the top five, catching up with BNB; TON ecosystem has entered the top ten in market value at lightning speed; Base took only one year from obscurity to the uncrowned king of L2, becoming the L2 with the largest user growth rate and the highest profit.
During the growth of the above-mentioned tracks, Huobi HTX has always been a constant presence, and will not easily give up the opportunity to participate in any potential track.
Huobi HTX has actively laid out these potential tracks and launched a series of activities to continuously expand the platform's market share and industry influence. The changes in these new tracks have undoubtedly had a direct and far-reaching impact on the entire cryptocurrency exchange landscape.
Entering multiple fields and playing in the "new encryption track"
This year, Huobi HTX has focused on several new potential tracks for cryptocurrencies in the hope of acquiring more users and markets. In particular, Huobi HTX has actively deployed in the hottest tracks such as TON, Meme platform, and Base.
The explosion of Telegram and TON ecology is one of the most noteworthy directions for the entire crypto industry in 2024. Taking the most popular Telegram game Catizen as an example, it currently has 26 million users, with 2.24 million paying users. This traffic has been noticed by major exchanges. Binance, OKX, HashKey and other cryptocurrency exchanges are actively grabbing the new opportunity of Telegram with 900 million users, and Huobi HTX is also targeting this market.
On September 6, 2024, Huobi HTX launched the HTX Telegram applet. As of September 15, the number of new Bot bindings exceeded 40,000. In response to the current lack of DeFi projects in the Telegram ecosystem, HTX Ventures, the global investment arm of Huobi HTX, announced a strategic investment in Telegram's DeFi project Vanilla Finance. Vanilla Finance is designed specifically for Telegram users, integrating a mechanism for earning while playing and transaction mining, and has reached a strategic cooperation with two popular games on Telegram, Catizen and NotCoin.
The TON ecosystem is just one of them. For the popular product of the Solana ecosystem - Pump.fun, Huobi HTX has actively cooperated with SunPump launched by TRON.
After the launch of Pump.fun, it achieved $100 million in revenue in just 217 days, becoming one of the fastest crypto applications to achieve $100 million in revenue. TRON followed this trend and launched the Meme platform SunPump in August 2024, which became a hit as soon as it was launched.
According to The Block, on August 22, SunPump's 24-hour revenue reached $548,000, surpassing Solana's meme coin platform Pump.fun's $367,000 revenue in the past 24 hours. The SunPump platform has a total of 7,351 tokens issued in the past 24 hours, also surpassing Pump.fun.
In this process, Huobi HTX linked up with SunPump to combine centralization and decentralization. It is reported that as long as the project on SunPump maintains a transaction volume of more than 10 million US dollars for 3 consecutive days, or the market value reaches 30 million US dollars, it can be directly listed on Huobi HTX and obtain the traffic bonus of the centralized exchange. Huobi HTX also provides a variety of services such as contracts, coin earning, new coin mining, airdrops, etc. for SunPump ecological Meme projects. Against this background, SUNDOG on SunPump has increased by 10,000 times and has become one of the hottest Meme coins this summer.
In addition to SUNDOG, SunPump also contributed Meme projects such as FOFAR, SUNCAT, SUNWUKONG, DRGN, and IVFUN to Huobi HTX, all of which have increased by more than 100% after going online.
After being "Huobi-ized", the new ways of playing in the Solana ecosystem and the TON ecosystem have also demonstrated strong appeal to crypto users, successfully popularizing the new ways of playing in crypto applications to a wider range of fields.
In addition, Huobi HTX has also launched new layouts in Base and other ecosystems, and began construction when the current Base DeFi ecosystem is not yet fully developed.
In September 2024, HTX Ventures, the global investment arm of Huobi HTX, announced a strategic investment in the DeFi project on the Base ecosystem, the perpetual decentralized exchange BSX. The managing partner of HTX Ventures said that the Base ecosystem has more than 110 million verified users worldwide. By supporting BSX, HTX Ventures will help enhance the liquidity foundation of the Base ecosystem and help a wider user group to settle in Web3.
Practice internal skills: increase liquidity, iterate new products, and seize new markets
After 11 years of accumulation, Huobi HTX has launched more than 700 tokens and has more than 47.8 million registered users, which are its fundamentals. In addition to the fundamentals, Huobi HTX continues to upgrade its products and continuously strengthen the security of the platform in order to seize more market share.
Since the TOKEN2049 brand upgrade last year, Huobi HTX has listed about 200 new currencies, 85% of which have achieved a 5-fold increase. At the same time, Huobi HTX continues to lower the threshold for cryptocurrency investment. In the first quarter of 2024, it pioneered the exchange restaking service, allowing users to participate in the industry's hottest track in the simplest way. Other new products, including transaction mining, pending order mining, etc., have also gained more user experience and use.
In terms of product innovation, Huobi HTX has also made a lot of optimizations, such as the cumbersome withdrawal process, which has now been properly resolved. In addition, the design of event products has also changed from the previous complexity to optimization in the direction of user-friendliness. This year, Huobi HTX has combined festivals and hot spots to launch a large number of high-quality platform activities, such as the Bitcoin Pizza Festival Carnival Party, Web3 Imperial Examination Season, etc., which enriched the gameplay of the activities and brought rich rewards, while also effectively enhancing the user's sense of participation and gain. In August, to celebrate its 11th anniversary, Huobi HTX launched a grand theme event with a total reward of more than 10 million US dollars. These activities have fully mobilized the enthusiasm of users and greatly improved the performance of the platform. It is reported that the Huobi HTX 11th Anniversary Summer Carnival Party has cumulatively promoted transactions of more than 2 billion USDT, and the KOL Glory Battle has attracted more than 74,000 people to participate in the voting, promoting transactions of up to 7.2 billion USDT.
In terms of the discovery and issuance of new assets, Huobi HTX has always adhered to the "user first" principle of listing coins, highlighting the core competitiveness of the "People's Exchange" with its huge wealth effect. It continuously iterates core asset products such as PrimeVote and PrimePool, grants the right to list coins to the community, and takes into account the quality and speed of new assets. At the same time, Huobi HTX also deeply cultivates potential currencies and high-quality assets in different tracks such as Meme, AI, public chains, and L2. According to incomplete statistics, in Q1 2024 alone, Huobi HTX has launched 59 new project tokens, of which nearly 50% have a historical maximum increase of more than 1,000. The first on the list of increases is WIF-a Meme project from the Solana chain, with an increase of up to 12,039%.
* Image source: Kaiko 2024 Q2 Exchange Liquidity Report
In terms of liquidity, Huobi HTX has also continued to set new records. According to the exchange liquidity report for the second quarter of 2024 released by Kaiko, a crypto data company, Huobi HTX was rated AA among 43 mainstream centralized exchanges, and its liquidity ranked fourth, second only to Binance, Bybit, and Coinbase, with an average trading volume of $60.5 billion. This means that Huobi HTX users can trade more quickly.
At the same time, the trading volume of Huobi HTX is also continuing to rise. According to Coingecko data, Huobi HTX's trading volume in June has ranked among the top 3. In July, facing the volatility of the crypto market, Huobi HTX's trading volume did not decrease but increased, up 11.3% month-on-month, and many high-quality assets were launched for the first time. According to Trust Score data, on July 24, Huobi HTX's 24-hour trading volume has risen to the second place in the world, reaching US$2.8 billion. This is the third time that Huobi HTX has risen to the top 2 this year.
In addition, Huobi HTX's globalization strategy is also being further implemented. Whether it is participating in regional summits or expanding international business, Huobi HTX is making steady progress. In May, HTX DAO's Asia Tour was successfully launched in many cities. In August, Huobi HTX appeared as a sponsor and partner at the 2024 Istanbul Blockchain Week. In September, Huobi HTX announced a strategic partnership with IBEX to jointly promote global Bitcoin and Lightning Network applications. At the just-concluded TOKEN2049, HTX DAO and TRON jointly held a grand Afterparty, which attracted more than 1,100 Web3 practitioners to participate and received unanimous praise. At the event, Justin Sun, global consultant of Huobi HTX, gave speeches with several industry leaders to discuss the future development trends in the Web3 field.
In addition, Huobi HTX's business has also expanded to the CIS region, increasing its traffic share in the region to 21.2%, fully demonstrating its market influence in the region. These achievements not only reflect the platform's efforts in optimizing user experience, launching innovative products and deepening localized service strategies, but also reflect users' high recognition of Huobi HTX's security, liquidity and innovation capabilities.
Security is the foundation of the platform. After the hacking incident last year, Huobi HTX made a series of improvements. In terms of hardware: cooperate with the international security company FearOff; in terms of software, it promised 100% fund protection to users. In addition, Huobi HTX has completed 23 public Merkle tree asset audit reports. The latest data shows that as of September 1, the number of audited asset types of Huobi HTX has increased to 8, and all reserve rates have remained above 100%.
In response to these data, Huobi HTX global consultant Justin Sun posted on social media: Funds have been flowing into the platform for six consecutive months, and the platform's profitability has increased significantly (over 100%), and Huobi HTX will make good repurchases.
Security, liquidity, product upgrades, etc. are the cultivation of Huobi HTX's internal strength; the active layout of potential tracks such as TON, Base, and Meme coin platforms is the polishing of Huobi HTX's own vision and execution. In the ever-changing market, Huobi HTX is still a defender of security, a listener to users, and a leader in the industry...
Huobi HTX has begun its 11th year of crypto journey.
