HTX Surpasses Coinbase in Spot Trading Volume for the First Time

As an analyst with a background in cryptocurrency and blockchain technology, I find the recent development of HTX surpassing Coinbase in spot trading volume to be an exciting turn of events. Justin Sun’s announcement on Twitter further underscores the significance of this achievement for the Hong Kong-based exchange.

HTX, the cryptocurrency exchange based in Hong Kong, has outpaced Coinbase, the prominent US cryptocurrency exchange, in terms of daily trading volume for the first time, marking a noteworthy achievement.

For the first time, the trading volume for spot markets at HTX_Global exceeds that of Coinbase. This is a significant development, marking only the start of new heights for us. 🫡

— H.E. Justin Sun 孙宇晨 (@justinsuntron) May 27, 2024

Justin Sun, the mastermind behind TRON blockchain, announced on Twitter that the 24-hour trading volume for HTX has reached an impressive $1.81 billion, exceeding Coinbase’s volume of $1.58 billion.

As an analyst, I’ve come across some intriguing developments regarding Justin Sun’s involvement with Bitcoin on HTX, a cryptocurrency exchange previously known as Huobi. Justin himself has revealed that he holds approximately $1.6 billion worth of Bitcoin on this platform. Furthermore, I discovered that Justin is also serving an advisory role on HTX. Now, in January 2023, Huobi announced a significant transition: their native token, HT, would undergo a conversion into HTX.

As a crypto investor, I’m excited to share that on March 20, HTX and Smole Coin announced a partnership to provide refunds for those who participated in the private sale of $SMOLE. This collaboration shows HTX’s commitment to upholding market integrity and ensuring customer satisfaction.

The supplanting of Coinbase by HTX Global in terms of spot trading volume is advantageous for crypto investors due to heightened competition. This competition can result in reduced fees, superior services, novel features, a fairer marketplace, and expanded access to international markets, ultimately elevating the quality of the trading experience.

The surge of HTX Global in the cryptocurrency exchange market demonstrates the ever-evolving nature of this industry and emphasizes the necessity of being agile, inventive, and customer-focused to thrive. Whether HTX Global will continue outpacing Coinbase remains to be determined.

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2024-05-27 23:16