On July 16, HTX DAO made its liquidity donation for Q2 2024 as scheduled. This is also the second liquidity donation since the establishment of HTX DAO.
A total of 9,631,105,301,954 HTX and 80,223,880 TRX were donated this time, with a total value of US$21.5 million. After completing this liquidity donation, plus the first one, 16,049,198,574,764 (about 16 trillion) HTX have been added to the liquidity pool, accounting for 1.6% of the total circulation.
You can view the relevant transaction hash on the HTX DAO official page.
Huobi Exchange's revenue continued to grow in Q2
Since the amount of liquidity donation is determined based on Huobi Exchange revenue, Huobi will convert 50% of its revenue into corresponding HTX and TRX every quarter and add them to the liquidity pool.
Based on liquidity contributions of US$21.5 million, Huobi's revenue in Q2 was US$43 million, an increase of 2.38% compared to US$42 million in Q1.
Huobi's growth rate in Q2 was lower than that in Q1, but what is rare is that it maintained a growth trend despite the overall market volatility and downward trend.
Platform data performance is directly proportional to revenue
If we simply infer the income based on the amount of liquidity donations, some people may feel that it is not accurate enough. We can use some objective operating data to verify the authenticity of the income.
On June 7, Kaiko, a crypto data company, released its exchange liquidity report for the second quarter of 2024. Among the 43 mainstream centralized exchanges it counted, Huobi HTX was rated AA, and its liquidity ranking was tied for fourth with Upbit (the largest exchange in South Korea), with an average trading volume of up to US$60.5 billion.
Liquidity is an important indicator for considering the trading experience of an exchange. Improved liquidity means that more and more people are trading through Huobi, and the transaction amount is also increasing.
A few days ago, Justin Sun shared Coingecko's exchange trading volume rankings on Twitter, and Huobi has already rushed into the top three. The picture shows the ranking of 24-hour trading volume, which may not mean much. But if we pull out the average daily trading volume in the past month and compare it, it will be more convincing.
The average daily spot trading volume from June 15 to July 15, 2024, according to Coingecko statistics: Binance 7.14 billion, bybit 3.32 billion, HTX 2.06 billion, Coinbase 1.96 billion, OKX 1.87 billion. It is still the third place, which is a bit admirable for Huobi. It said that it has returned to the top three and quietly reached the top 3 in the world.
It is no accident that Huobi is slowly getting better, and it should not be ignored. Huobi has benefited greatly from actively embracing high-quality assets in new areas, innovative platform coin upgrades, and innovative operational activities. At present, Huobi's growth momentum shows signs of weakening.
It is expected that by the end of the year it will most likely be on par with bybit.
By then, all HTX user airdrops will have been released, and there will not be much time left to buy HTX at a bargain price.
