Huobi HTX announced its Proof of Reserves 2025 Report, stating that it has posted Merkle Tree PoR continuously for 38 months and the reserve ratio of all core assets has always been above 100%, with all historical data available on-chain.
The report states that reserve fluctuations in 2025 reflect market trends and emphasize stable operations; a highlight is the significant increase in users' USDT assets during the year.
- Merkle Tree PoR announced 38 months ago; core asset reserves consistently above 100%.
- The USDT users is expected to increase from approximately 695 million to around 1.765 billion in 2025 (approximately 150%).
- Market share increased 2.06% through November; PoR expanded to include WLFI and USDC .
Proof of Reserves 2025: Asset Reserves and Transparency
Huobi HTX stated that all core assets maintained a reserve ratio of over 100% throughout the PoR announcement period, and historical data was stored on-chain.
The 2025 annual report states that the exchange has continuously published Merkle Tree Proof of Reserves for 38 months. Maintaining reserves above 100% for core assets is described as stable over time, while also allowing for direct on-chain verification of historical data.
In 2025, Huobi HTX also expanded the scope of asset transparency in its PoR, adding assets such as WLFI and USDC to the covered list, alongside the core assets already being tracked.
2025 Volatility: USDT surges, BTC remains stable; market share increases.
Users' USDT holdings increased from approximately 695 million (January) to approximately 1.765 billion (December), equivalent to about 150%; users' BTC holdings remained relatively stable.
The report suggests that the changes in reserve data in 2025 reflect market trends and the stable operation of the platform. The increase in USDT is the most notable change of the year, while BTC did not experience significant fluctuations as described in the report.
A research report by CoinDesk indicates that as of November, Huobi HTX's market share is projected to increase by 2.06% in 2025, ranking first among mainstream centralized exchanges under review.
