HTX Eyes 2.38% on Q2 Revenue Increase, Marking Second Consecutive Quarter of Gains!
On July 16, 2024, HTX DAO received the Q2 ecosystem liquidity pledge as scheduled, marking the second pledge round completed since its inception.
This pledge, mainly contributed by the HTX exchange, consists of 9,631,105,301,954 HTX and 80,223,880 TRX, with a total value of $21.5 million. As of press time, through the two rounds of pledges, a total of 16,049,198,574,764 HTX has been added to the liquidity pool, accounting for 1.6% of its circulating supply.
The transaction hash of this pledge can be viewed on the HTX DAO website.
HTX Continues Revenue Growth in Q2
HTX is a key contributor to the HTX DAO liquidity pool, pledging 50% of its quarterly revenue, converted into $HTX and TRX, to ensure the pool’s stability and growth.
Based on the $21.5 million liquidity pledge, we can calculate that HTX’s Q2 revenue totaled $43 million, a 2.38% increase from Q1’s $42 million.
Although the growth rate in Q2 has slowed compared to Q1, it is noteworthy that HTX has maintained an upward trend amid market dip.
Platform Performance Positively Correlates with Revenue Increase
Although the liquidity pledge amount alone may not provide a complete picture of HTX’s revenue, operational data offers further evidence of a revenue increase.
Kaiko, a leading cryptocurrency market data provider, recently published its Q2 2024 report on exchange liquidity on June 7. Among the 43 mainstream centralized exchanges tracked in the report, HTX was rated AA and tied with Upbit (the largest CEX in Korea) for fourth place in terms of liquidity, with an average trading volume of $60.5 billion.
As a metric, liquidity speaks to the quality of the trading experience, and improvements in liquidity indicate increased trading activity and higher trading volume on HTX.
Justin Sun, an HTX adviser, took to X the other day to share Coingecko’s volume exchange rankings, showing HTX in the top three. While 24-hour rankings can fluctuate, a more reliable indicator is the average daily trading volume over the past month.
From June 15 to July 15, Coingecko reported major exchanges’ average daily spot trading volume as follows: Binance $7.14 billion, Bybit $3.32 billion, HTX $2.06 billion, Coinbase $1.96 billion, and OKX $1.87 billion. This provides a clearer picture of its month-long performance. HTX’s consistent third-place ranking underscores its great progress.
HTX’s great improvement is no accident. Embracing new high-quality assets, upgrading the platform token, and launching innovative promotions have all contributed to enhancing the exchange’s liquidity. Currently, HTX’s growth momentum shows no signs of weakening. By the end of the year, there is a strong possibility that HTX will be basically on par with Bybit.
Additionally, the $HTX airdrop for users will be fully released by then, leaving limited time for bottom-fishing in $HTX.
🔹That wraps up this quick overview of the HTX Q2. Make sure to join our community to stay updated on all things crypto. Check out the links below:
