Last week, the Bybit hack of nearly $150 million shocked the entire cryptocurrency industry. To address the trust crisis, several mainstream exchanges have successively raised the annualized yield rates of mainstream cryptocurrencies, especially the ETH wealth management and mining products, in order to boost user confidence in centralized exchanges.
At the same time, the cryptocurrency market is accelerating its downward trend. According to CoinGlass data, on February 25, the total contract liquidation volume across the network approached $1.15 billion. The violent market fluctuations have greatly increased the trading risks for investors. Rather than rushing into the market, it is better to seek more stable hedging strategies, and these newly launched high-yield wealth management and mining products have become a good choice. Especially for holders of mainstream cryptocurrencies and USDT-holding users, it is obviously a wiser approach to earn stable interest income to hedge against coin price losses, while retaining ammunition to wait for the next bull market.
Recently, Binance, Huobi HTX, Bitget, and Gate have all launched new wealth management and mining products. The four exchanges have different focuses in terms of cryptocurrencies, annualized yields, and quotas. Which one has the largest interest rate hike and the most sincerity?
Comparison of New Mining Products
Overall, the 10% annualized BTC, ETH, and USDT 7-day fixed-term products launched by Huobi HTX can bring the highest estimated returns. Huobi HTX provides each user with a subscription quota of the equivalent of 30,000 USDT for each of the three products, while also increasing the annualized interest rate. If a user fully subscribes to one of the 7-day fixed-term products, they will receive 57.5 USDT in earnings upon maturity.
In addition, Huobi HTX is the only exchange among the four that has launched a high-yield BTC mining product, which is more abundant in product diversity.
Bitget's ETH 14-day fixed-term product has the same 10% interest rate as Huobi HTX, but the quota is only 5 ETH, which is inferior to Huobi HTX's 11 ETH; its 7-day fixed-term ETH product has an annualized interest rate of up to 50%. However, this product is only available for new users, and the quota is only 0.4 ETH, so the estimated earnings are only 10.5 USDT.
Gate has also focused on ETH products, with annualized interest rates of 5% and 6% for 3-day and 7-day fixed-term products, respectively. Although there is no quota limit, the annualized interest rates are lower compared to Huobi HTX and Bitget.
Binance has launched spot trading products for USDT, ETH, and SOL, but compared to other exchanges, the attractiveness of its ETH spot product is slightly insufficient, with a maximum of only 2.1%; the USDT spot product has a larger interest rate hike, with an additional amount tier, and the yield for this part is 4.15%. However, the interest rate of Binance's USDT spot product is not superior to other exchanges.
Comparison of Stablecoin Spot Products
In addition to the above-mentioned new mining products, the earning capacity of USDT spot products is also an important indicator for evaluating the attractiveness of the financial business of major exchanges. Binance's USDT spot product has been mentioned in the previous text and will not be repeated here; Bitget and Huobi HTX's USDT spot products are at a similar level, with the former being better in terms of interest rate, with an annualized rate of 12.9% for the amount tier (500 USDT) and 4.9% for the amount outside the tier; the latter is stronger in having a higher amount tier (1,000 USDT), with an annualized rate of 10% for the part within and 4% for the part outside. Gate's current USDT spot product has an annualized rate of around 4%, with an additional 10% annualized bonus for the part within 500 USDT.
In terms of other stablecoin spot products, Binance's FDUSD and Bitget's USDC also have certain competitiveness; while Huobi HTX is currently providing a high annualized yield of up to 20% as a subsidy for the decentralized stablecoin USDD, making it a noteworthy stablecoin wealth management product.
Note: This article does not constitute investment advice.
