In a significant shift in the cryptocurrency exchange landscape, HTX has for the first time outperformed Coinbase in spot trading volumes. This milestone was announced by Justin Sun, the founder of the TRON blockchain and a global advisor for HTX. Sun expressed confidence in the platform's growth trajectory, emphasizing that this achievement is just the beginning.

According to CoinGecko data, HTX currently manages around $2.4 billion in daily spot trading volumes, making it one of the world's largest crypto exchanges. In contrast, Coinbase, a leading U.S.-based exchange, oversees approximately $2 billion in daily spot trading volumes.

HTX, formerly known as Huobi, is one of the oldest and largest cryptocurrency exchanges globally. Recently, it made headlines by pledging to donate all Slerf trading revenue on HTX Global, a move aimed at supporting Slerf's trading fee mining on HTX.

Coinbase's decline in exchange volume rankings comes amid various legal challenges in the United States, including a securities violation lawsuit filed by the U.S. Securities and Exchange Commission (SEC). These legal hurdles have likely impacted the exchange's trading volumes, providing HTX with an opportunity to rise in the rankings.