Research Summary
The report reviews HTX’s performance in 2023 and outlines its strategic plans for 2024. It highlights the exchange’s growth in user base, trading volume, and new listings. The report also discusses HTX’s initiatives like PrimeVote and PrimePool, its focus on user experience, security, and compliance, and its plans for community governance and global expansion.
Key Takeaways
Impressive Growth in 2023
- Expansion of User Base: HTX’s user base grew to over 46 million registered users in 2023, with 5 million new registrations and 54.3 billion dual-end accesses across its app and website platforms.
- Surge in Trading Volume: The exchange’s total annual trading volume neared $1.3 trillion, with spot trades accounting for 46.1% or approximately $600 billion, reflecting a 324.4% increase in monthly spot trading volume by the end of 2023.
- Successful P2P Business: HTX’s P2P business flourished, with a trading volume of nearly $7.2 billion and 6.43 million orders in 2023, marking a 278% surge in monthly P2P trading volume by year’s end.
Strategic Listings and Partnerships
- New Cryptocurrency Listings: In 2023, HTX listed 123 new cryptocurrencies and 134 spot trading pairs, tapping into sectors like new public chains, BRC20, Meme, Solana, and AI, leading trends and diversifying investment opportunities for users.
- Successful Partnerships: HTX’s strategic partnerships with institutions enhanced security, trading experience, technology, and payment methods, with notable cooperation in trading experience.
Focus on User Experience and Security
- User Experience Enhancements: HTX improved user experience by optimizing registration and login scenarios, leading to a 14% increase in login efficiency, and simplified the homepage, resulting in a 27% rise in distribution efficiency.
- Security Measures: The security team at HTX prioritizes the protection of user assets, handling 85 on-chain cases across 19 public chains, and establishing security strategies for two types of on-chain security risks, ensuring a robust security system.
Compliance and Global Expansion
- Obtaining Licenses: HTX has been proactive in obtaining business qualifications or licenses in various countries, including Australia, Argentina, Chile, Paraguay, and Uruguay, to provide a secure and transparent trading environment.
- Global Expansion: HTX’s global brand strategy includes building the “Metaverse Free Port” and collaborating with projects, public chains, and stablecoins to improve international market development.
Community Governance and Decentralization
- HTX DAO: HTX DAO was established on January 18, 2024, and held its launch ceremony in Singapore on February 2, positioning itself as a leader in decentralized finance and the tokenized economy.
- Community Governance: The HTX DAO will explore user autonomy within the community, aiming to establish a self-governing ecosystem characterized by reciprocity and mutual benefits among platform users, project teams, and KOLs.
Actionable Insights
- Monitor HTX’s Performance: Given HTX’s impressive growth in 2023 and its strategic plans for 2024, it would be beneficial to monitor the exchange’s performance and initiatives throughout the year.
- Explore HTX’s New Listings: HTX’s strategic listings in various sectors present opportunities for users to diversify their investment portfolios. It would be worthwhile to explore these new cryptocurrencies and trading pairs.
- Consider HTX’s User-Centric Approach: HTX’s focus on user experience and security, along with its initiatives like PrimeVote and PrimePool, reflect its user-centric approach. Users may want to consider these factors when choosing a crypto exchange.
- Understand HTX’s Compliance Efforts: HTX’s proactive efforts to obtain licenses in various countries demonstrate its commitment to compliance and operational reliability. Users should understand these efforts and their implications for the trading environment.
- Engage with HTX Community: HTX’s focus on community governance and decentralization, along with its plans for global community events, suggest opportunities for users to engage with the platform and its community.
