Huobi HTX, as a leading cryptocurrency exchange, is honored to witness and participate in the various changes in the cryptocurrency market. In early 2024, it joined the ranks of HTX DAO ecosystem builders to create a people's exchange, aiming to break the old order of CEX and usher in a new industry trend.

Looking back at the past year, the same narrative of innovation and breakthroughs continues to unfold on Huobi HTX, forming one milestone event after another.

I. Platform Data

1. User Volume

Huobi HTX has accumulated over 46 million registered users, with 5 million new registered users contributed in 2023 alone, and a total of nearly 54.3 billion visits from both ends.

2. Trading Volume

In 2023, Huobi HTX's total annual trading volume reached nearly $13 trillion, with spot trading contributing nearly 46.1%, or about $6 trillion. According to The Block data, as of the end of 2023, Huobi HTX's monthly spot trading volume increased by nearly 324.4% compared to the beginning of the year, showing a general monthly growth trend.

3. Deposits and Withdrawals

The P2P business has shown strong momentum, with Huobi HTX's P2P trading volume reaching nearly $7.2 billion in 2023, with 6.43 million orders. As of the end of 2023, Huobi HTX's monthly P2P trading volume increased by 278% compared to the beginning of the year, showing a general monthly growth trend.

II. New Asset Listings

1. New Asset Listings

In 2023, Huobi HTX added 123 new tokens, with a total of 134 spot trading pairs, covering all popular tracks such as new public chains, BRC20, Meme, Solana, and AI, leading the direction of asset hotspots and meeting the investment needs of different users.

In the new public chain aspect, Huobi HTX listed several high-market value projects such as SUI, SEI, TIA, and ARB, introducing a large number of users to the platform and significantly increasing the platform's trading volume. The related tokens also performed remarkably well, with SUI and SEI rising by 206 and 178 times, respectively, and TIA achieving a 6-fold increase due to its modular concept.

In the Meme token aspect, Huobi HTX adopted a fast and efficient listing strategy, bringing significant wealth effects to users. For example, Huobi HTX was the first to list hot tokens like PEPE and BONK, gaining recognition from a large number of new trading users, with PEPE's increase reaching nearly 2000 times.

Bitcoin inscriptions were one of the hottest narratives in the second half of 2023. Huobi HTX quickly entered the BRC-20 track, listing SATS ahead of Binance and OKX, and the first listing of ORDI led to a 53-fold increase, resulting in a new high in platform user growth.

In other popular tracks, the tokens listed by Huobi HTX also showed impressive increases. For example, WLD in the AI track led with a 54-fold increase, and the exclusive first asset UNIBOT, after being listed, rose from $16 to a high of $240, achieving a 15-fold increase.

2. PrimeVote

In 2023, Huobi HTX held a total of 9 PrimeVote sessions, with over 500 projects applying, and ultimately, 9 projects were selected for listing on Huobi HTX through user voting, with rewards exceeding 2.3 million USDT.

The 10th PrimeVote session saw a record number of participants, exceeding tens of thousands. Additionally, Huobi HTX was the first centralized exchange to pay attention to the innovative vitality of the BRC community. Through the 5th PrimeVote, users voted to select ORDI for listing, leading the inscription trend. Furthermore, projects such as TOMI and CA, listed through PrimeVote, maintained steady performance, recording higher increases compared to the closing prices on the first day after listing.

3. PrimePool

In 2023, Huobi HTX launched a total of 11 PrimePool activities, distributing rewards exceeding 2.2 million USDT to users. With the launch of the TRX lock-up mining new coin activity at the end of November, over tens of thousands of users participated.

III. Derivatives

◆ Contract Trading

1. Data Scale

1) In 2023, Huobi HTX's total contract trading volume reached $650 billion, with a Q4 increase of over 40% compared to Q3. As of February 2024, the platform supports contract trading for over 140 tokens, and the trading volume and scale show a general monthly growth trend.

2) In 2023, Huobi HTX introduced 75 new assets through real-time tracking of the latest market themes and hotspots, with 68 high-quality assets achieving increases of up to 200%, accounting for over 90%.

2. Product Optimization

1) The contract copy trading module is a user-friendly strategy trading tool developed by the platform, allowing users to automatically follow professional traders' orders to achieve easy profits. As of February 2024, the number of high-quality contract copy trading traders on the platform increased by 500% compared to the beginning of 2023, and the overall service for copy trading users has been steadily increasing month by month in 2023.

2) In 2023, the platform completed over 20 contract function optimizations, including real-time settlement of funding rates and uninterrupted service for U-based settlements.

◆ Huobi Earn

In 2023, Huobi Earn helped users earn interest income exceeding tens of millions of USDT, serving millions of users in over 200 countries. It includes three main types of products: Simple Earn, Structured Products, and On-chain Earn. It also provides functions such as automatic earning from spot balances and investment plans to meet diverse needs based on market cycles and risk preferences.

For users seeking stable returns, they can choose products from the Simple Earn module, including: Current, Large Current, and Fixed Term, to obtain substantial returns with convenient operations and lower risks. Currently, these products support over 50 tokens.

Structured products are innovative financial instruments that combine fixed income and derivatives to meet advanced users' higher return expectations, including two products: Dual Currency and Shark Fin. In a sideways market, users can choose the Dual Currency product to buy low or sell high for the selected tokens, achieving high returns. For obvious one-sided market trends, users can choose the Shark Fin product to increase the return rate by predicting the rise/fall of relevant tokens.

It is worth mentioning that the innovative structured product "Shark Fin," launched in 2023, became a star product for Huobi HTX, with each product's quota being oversubscribed, and the seven-day "Shark Fin" product's GMV exceeded expectations shortly after its launch.

For users focusing on on-chain ecosystems, they can choose on-chain earn products, including ETH2.0, over 20 mainstream network node staking, and various on-chain staking options to meet different staking income needs. In 2024, the platform also launched the Restaking activity, offering $50 million in staking rewards to benefit users.

IV. Product Upgrades

1. App Upgrades to Enhance User Experience

1) Login and Registration Scene Upgrades:

Significant optimizations were made for the most commonly used login and registration scenes, such as integrating universal keys, adding third-party account registration, and code login, allowing users to complete registration and login more quickly and conveniently, greatly improving the user experience. In terms of data, the login efficiency increased by 14% compared to the beginning of the year.

2) Simplified Homepage:

Significant changes were made to the old version of the homepage, addressing issues such as too many buttons, modules, and redundant information, optimizing the original 6 bottom navigations to 5, and simplifying many homepage modules. Customized modules were displayed based on different user needs, greatly improving user experience and satisfaction. In terms of data, the distribution efficiency increased by 27% compared to the old homepage.

2. Content Module Upgrades to Support KOL Growth

In order to increase KOL exposure and recommendation strategies in different content scenarios across the entire platform, effectively boosting page traffic and supporting community growth, while also adding exclusive features for KOL users, such as off-site sharing and invitations, live room copy trading components, and community copy trading cards, to help KOLs grow their traffic and make it easier for them to maintain users.

3. Business Product Upgrades to Meet Diverse User Needs

◆ Contract Trading

1) By launching the uninterrupted settlement function for contracts, the platform avoids the risk of non-trading during downtime, achieving 24/7 contract trading.

2) Upgrading the contract funding rate, using the original contract predicted funding rate as the settlement rate, increasing the sensitivity of the funding rate to market trend changes, and speeding up the anchoring of perpetual contract prices to spot market trends, overall improving the product mechanism of Huobi HTX perpetual contracts. Additionally, for arbitrage traders across exchanges, the new mechanism aligns Huobi HTX's funding rate mechanism with mainstream exchanges, significantly reducing the risk of funding rate differentials during cross-exchange arbitrage.

3) In the Copy Trading 2.0 version, a series of important functions such as isolated margin addition and subtraction, limit orders, and trailing orders have been improved and perfected, greatly enhancing the copy trading experience for trader users. At the same time, on the copy trading user side, new features have been added to support custom copy trading pairs and set risk limits, improving the convenience and freedom of copy trading users' operations.

◆ Huobi Earn

1) Providing users with the tool to automatically earn from spot balances, improving the usage experience and convenience of the product module, serving over 100,000 users.

2) Launching the industry's first large current account product for high-net-worth users, further expanding the Huobi Earn product matrix to meet the demand for large-scale long-term stable investments.

3) Adding a dollar-cost averaging plan for users with high-frequency investment needs, providing them with an automated tool for regular and fixed investments, saving operation time and helping asset growth.

4) Upgrading the product homepage, including native page rendering, simplifying product categories, and optimizing product recommendation strategies, significantly improving the homepage opening efficiency to 150 milliseconds, further enhancing user experience.

4. Web Activity Upgrades to Optimize Platform Functions

For users accustomed to participating in activities on the web, the platform's product experience has been comprehensively upgraded to align all activities on both the app and web platforms. Currently, users can participate in all platform activities through the web, including PrimeVote, PrimePool, trading competitions, deposit competitions, and the welfare center.

V. Security and Compliance

1. Risk Management

The Huobi HTX security team always prioritizes user asset security, continuously strengthening the security system in information security, business risk control, and on-chain security to enhance operational security capabilities. A total of 85 on-chain cases have been tracked and handled, involving 19 public chains, with systematic analysis and establishment of security strategies for two types of on-chain security risks. As of now, the security system is operating well, effectively protecting user asset security.

2. License Applications

Huobi HTX has always adhered to global safe and compliant operations, providing users with a secure and transparent trading environment. As of now, it has obtained compliance qualifications or licenses for operations in various locations including Australia, Argentina, Chile, Paraguay, and Uruguay in Latin America. Furthermore, to serve more users globally and allow them to enjoy regulated virtual asset services, Huobi HTX has expanded its compliance business to a larger scope, as follows:

Lithuania: Huobi HTX registered a compliant exchange in Lithuania in 2022 and successfully expanded its business in 2023, tapping into the European market. It will actively cooperate and apply for the European MiCA Act to embrace regulation, operate compliantly, and expand its international business.

Dubai FMP License: Huobi Dubai is applying for the FMP license regulated by the Dubai Virtual Assets Regulatory Authority (VARA). This license is the first independent, representative, and high-quality virtual asset license in the Middle East. Huobi Dubai has obtained VARA's preliminary approval (AIP) and is applying for formal licenses for Advisory and Broker-Dealer businesses, currently in the final stage of submitting company policy documents, expected to obtain the license in 6 months, enabling stablecoin, fiat, and virtual asset consulting services.

BVI VASP-related License: The British Virgin Islands (BVI) introduced virtual asset regulations (VASP) in early 2023, and Huobi HTX applied for the related license from the regulator, with the potential to become one of the first approved VASP applicants. Once approved, in addition to existing contract products, it can enable other services such as wallet custody, fiat channels, and spot trading. It is worth mentioning that Huobi HTX was successfully approved as a sandbox member of the BVI derivative virtual currency trading platform in 2021 and obtained the world's first BVI derivative virtual currency trading platform license in 2022, providing compliant contract services.

3. Asset Security

In 2023, the reserve ratio remained above 100% throughout the year, indicating that Huobi HTX's wallet assets exceeded the total user-held assets, with ample asset reserves.

As of February 2024, Huobi HTX has completed asset audits 16 times. The latest Merkle tree asset proof data is as follows: USDT 101% (Huobi assets 550,800,308), BTC 100% (Huobi assets 21,651), ETH 102% (Huobi assets 112,173), TRX 103% (Huobi assets 9,684,177,652). Among them, the USDT and ETH data already include stUSDT, USDT-T-Bills assets, and BETH, stETH.

Huobi HTX will conduct regular asset audits and publicly demonstrate through corresponding pages and functions that it has sufficient reserve funds to safeguard user asset security.

VI. Community Development

1. Scale Growth

As of mid-February 2024, the active fan base of the Huobi HTX community has exceeded 10 million. Nearly 2 million people browse cryptocurrency news and post trading experiences in the Huobi HTX community through the app, and the community has established nearly 100 groups through various online social tools, with a community user base exceeding a million, a 48% increase compared to the beginning of 2023. Within the Huobi HTX app, nearly 300 trading and communication groups have been established, with nearly a million active trading users, a 29% increase compared to the previous year. The official accounts on various channels have tens of thousands of followers, with the Chinese official Twitter (X) account having nearly 90,000 followers, a 27% increase compared to the previous year. Successful collaborations with over 200 well-known KOLs, including Justin Sun, covering over tens of millions of fans across the internet, have collectively promoted the brand of Huobi HTX, with key promotional activities reaching exposure levels in the billions.

2. Service Experience

Through various forms of content operations, the Huobi HTX community achieved 100% coverage of hot topics throughout the year, with core trading KOL market prediction analysis accuracy reaching as high as 80%. Official accounts such as Twitter (X) and Telegram publish about 10 important messages and user activities daily, maintaining good interaction data of around 5% for official messages. KOLs and users in the community collectively post about 5,000 Huobi HTX-related posts daily, maintaining an overall interaction rate of over 7%. Inviting live explanations of the latest industry trends from Justin Sun, Kong Jianping, Chris, Han Feng, Xiao Feng, Shi Yanqiang, Chen Anzhi, and others, with an average of 80 live sessions per day, each attracting over a thousand viewers.

VII. Ecosystem Development

1. HTX DAO

HTX DAO was officially established on January 18, with its launch ceremony successfully held in Singapore on February 2. It is a leading decentralized autonomous organization in the blockchain ecosystem, focusing on open finance and decentralized tokenized economies.

In terms of governing the $HTX token, token holders have the power to vote on listings, inquiries, and decision-making governance. The governance plan reflects a commitment to ecosystem transparency and community participation, attracting many well-known entities to join as ecosystem builders, with more and more partners choosing to increase their weight in HTX DAO construction through pledging.

Currently, the HTX DAO ecosystem has joined 19 important builders, including Huobi HTX, TRON, Poloniex, BitTorrent, Spark Digital Capital, APENFT, Stratified Capital, JustLend DAO, OIG Group, Double Peak, stUSDT, Zebec, USDD, ANKR, Sun.io, Merkle 3s Capital, WINkLink, TUSD, Owlit Finance, and others. Platforms such as Huobi HTX and Poloniex will donate a portion of their income to the liquidity of HTX DAO.

2. HTX Ventures

In 2023, HTX Ventures adopted a strategy of direct investment and fund investment, investing in over 200 projects covering infrastructure, DeFi, RWA, L1&L2 public chain ecosystems, SocialFi, NFT, and education.

Deep ecosystem development on Ethereum, Tron, Arbitrum, Cosmos, Solana, Polygon, Polkadot, and support for multi-chain infrastructure tools and products, actively exploring Web3 usage scenarios in Web2 and multi-chain ecosystems.

In addition, HTX Ventures, in collaboration with the Princeton Blockchain Club (PBC) and TRON, hosted the first hackathon, promoting the integration of blockchain academia, enterprise, and innovation, and continuing to advance investment and project incubation to cultivate the next generation of Web3 enterprises.

3. Strategic Partnerships

In 2023, Huobi HTX signed strategic cooperation agreements with over a dozen institutions in areas such as security, user trading experience, technology enhancement, and payment methods. The most extensive cooperation was in enhancing user trading experience, including deep cooperation with AICoin to fully integrate API trading functions, deep cooperation with TradingView to jointly create an efficient and fast digital asset trading experience, and cooperation with CertiK to integrate Skynet security ratings into the trading platform.

VIII. Brand Events

1. TOKEN2049: International brand officially upgraded to HTX, hosting a thousand-person Afterparty for its tenth anniversary

In September 2023, the top Asian crypto event TOKEN2049 was held in Singapore. As a platinum sponsor, Huobi HTX was invited to attend and, in collaboration with TRON, Enjin, SINOHOPE, Meta Era, and other leading companies in the Web3 field, hosted a thousand-person Afterparty at the largest club in Singapore. At the event, Sun Yuchen, a member of the Huobi HTX Global Advisory Committee, announced the official upgrade of the Huobi international brand to HTX and surprised the audience with the announcement of the tenth-anniversary "X Prize".

This brand upgrade signifies the new identity of Huobi HTX in the crypto era - the currency for trading. Huobi will use the international brand HTX as a rallying cry to implement a strategic layout of global expansion, ecological prosperity, wealth effects, and security compliance, deeply advancing the new journey of regulatory compliance and product innovation, and opening the next decade's commitment.

2. Blockchain Life 2023: Awarded the first place for the 2023 Cryptocurrency Exchange of the Year

In October 2023, the top crypto summit Blockchain Life 2023 was held in Dubai. As a platinum sponsor and exclusive title sponsor of the registered area, Huobi HTX made a grand appearance at the summit's platinum exhibition area, attracting widespread attention from the industry, with millions of internet celebrity KOLs reposting Huobi HTX event videos on Instagram.

During the summit, Huobi HTX was awarded the first place for the "Cryptocurrency Exchange of the Year" at Blockchain Life 2023, and Sun Yuchen, a member of the Huobi HTX Global Advisory Committee and the founder of TRON, won the "Cryptocurrency Person of the Year" award. Since the brand upgrade, Huobi HTX has once again appeared at international crypto events and received important industry awards, highlighting its increasingly solid competitive position in the global crypto market and demonstrating its commitment to promoting the healthy development and application of crypto globally.

3. Australian Crypto Convention 2023: Sun Yuchen's digital persona first exposure

In November 2023, during the Australian Crypto Currency Conference, Sun Yuchen, a member of the Huobi HTX Global Advisory Committee, made the first appearance of his virtual digital persona IP. This image aligns well with Huobi HTX's image of technological innovation and will be used to complete subsequent series of brand promotion tasks. The exposure of this virtual digital persona signifies Huobi HTX's comprehensive implementation of its "globalization" strategy, linking the virtual and real worlds with innovative technology, collaborating with Sun Yuchen to create a Web3 portal, exploring new paths for cross-industry development, and promoting the healthy development of the crypto industry.

4. Mars Program: Successfully held 6 events with over 380,000 participants

As of now, the Mars Program has successfully held six events and selected six space candidates. The six events have attracted over 380,000 participants, with over 237,000 NFTs minted on-chain and over 200,000 USDT in rewards distributed.

As the Mars Program continues to progress, its industry influence is gradually increasing, attracting participation from Web3 industry institutions such as DWF Labs, Dogelon Mars (ELON), and HTX DAO. Currently, the seventh phase of the Mars Program is being prepared. In the future, Huobi HTX will collaborate with more partners to further explore the combination of crypto and space endeavors, promoting the unlimited expansion of crypto applications.

5. Crypto New Year's Gala: Paying tribute to the positive forces of crypto transformation

On January 24, the second Crypto New Year's Gala & Awards Ceremony of Huobi HTX was grandly held, paying tribute to outstanding individuals, projects, and events that had a positive impact on the entire crypto ecosystem in 2023. At the ceremony, Huobi HTX distributed nearly 35,000 USDT worth of $HTX in prize money, announcing nine major awards, including the Top 10 Most Influential Events in the Crypto Industry in 2023, the Top 10 Most Promising Market Concepts, the Top 10 Most Influential Media in Web3, the Top 100 Most Popular Content Creation KOLs, the Top 200 Most Eye-catching Social Media Influencers in Web3, the Best Partner Award, the Best Collaboration Partner Award, the Top Customer Excellence Award, and the Top 10 Beloved Cryptocurrencies of the Year by Users.

2024 Outlook: Unlocking the shackles of centralization to create a people's exchange

At the beginning of 2024, the crypto market has been on a strong upward trend. The improvement in macroeconomic conditions and the resonance of the innovation cycle in the crypto industry have ushered in a new round of bullish speculation.

At the same time, with Huobi HTX joining the ranks of HTX DAO ecosystem builders and the warming of the crypto market, in the new competitive cycle, Huobi HTX, focused on community autonomy and decentralization, is re-entering the market with a "rebirth through fire" attitude and will demonstrate a stronger competitive stance.

Specifically, this includes:

Focusing on hot tracks to create wealth effects: Huobi HTX will closely monitor the changes in asset size after the approval of the Bitcoin spot ETF and the development of derivative products, as well as different countries' regulatory policies for this emerging asset class. This development not only heralds the regularization of Bitcoin investments but also provides a huge opportunity for the listing and appreciation of Huobi HTX assets. Therefore, the development of the BTC ecosystem remains a focus for Huobi HTX, especially emerging protocols beyond BRC-20, such as BRC-420, ARC-20, and BTC L2 solutions (such as RGB smart contracts and BitVM virtual machines). The development and application of these technologies will further enrich the BTC ecosystem, bringing market heat synergistic with the halving event.

At the same time, Huobi HTX continues to favor projects that combine Web3 with AI and new models where pure AI projects contribute data through token incentives. The combination of AI technology with decentralized finance (DeFi), storage solutions, and the DePin concept will bring novel project concepts to the market. This will not only attract funds from the technology sector but also inject new vitality and innovation potential into the new asset market of cryptocurrencies.

In addition, the "Cancun Upgrade" will bring revolutionary improvements to Ethereum, significantly reducing gas fees and further enhancing network processing capabilities, which will have a profound impact on the entire ETH ecosystem. The development of Layer2 sequencers, parallel EVM development, and the application of ZK technology also make the Ethereum network more efficient and scalable. These advancements not only enhance the competitiveness of Ethereum but also provide new opportunities for investors and developers. Huobi HTX will closely monitor the market dynamics after the Cancun upgrade and the innovative and growth brought to the ETH ecosystem by related technological advancements.

In summary, in 2024, Huobi HTX will closely follow market trends, focus on hot tracks, select high-quality projects, provide users with diverse asset choices, and lead a new round of bull market wealth effects!

Product technology innovation and upgrades: Huobi HTX will continue to focus on user trading experience, continuously optimize the trading system, adopt innovative system architecture, improve system stability and throughput, and safeguard user trading. At the same time, it will continue to optimize copy trading product functionality, enrich strategy trading tools, make contract trading more efficient and convenient for users, and provide diverse, high-yield coin-earning products. It will also conduct online/offline user education activities to enhance user understanding of the market and products. Furthermore, it will enhance user experience through platform design, KOL empowerment, and further upgrade risk management models to fully protect user asset security.

Diversified business/activity expansion: Huobi HTX will continue to build the "Mars" traffic base, expand more partners, optimize activity gameplay, reduce task difficulty, and provide more rewards to users participating in minting Mars NFTs. Additionally, it will launch comprehensive exclusive benefits for $HTX holders, including but not limited to free participation in PrimeVote, PrimePool, and other new project activities, staking rewards, the highest APY current coin-earning, triple statistics for rocket value, and fee discount benefits.

Compliant, secure, and stable operations: In 2024, Huobi HTX is expected to obtain three licenses, including the relevant licenses from Lithuania MiCA, Dubai FMP, and BVI VASP. Furthermore, Huobi HTX will continuously strengthen the platform's security system, take effective measures to address potential threats, and ensure the security and reliability of user digital assets.

Rich ecosystem development: HTX Ventures will continue to drive the development of Web3 infrastructure and its ecosystem, support the next generation of Web3 enterprises, and introduce Huobi HTX. Additionally, through HTX Research, it will collaborate with partner institutions to conduct multidimensional market education and promote the integration of Web2 and Web3.

Autonomous community development: Around HTX DAO, Huobi HTX will explore the possibility of community open user autonomy, form multi-channel information sharing, create a self-sustaining ecosystem of platform & project parties, KOLs & users serving each other, and draw on community wisdom and strength to make Huobi HTX a truly people's exchange. At the same time, it will organize offline community user exchange activities globally, creating a visible, tangible, user-friendly, and valuable crypto community for users.

Global brand strategy: Huobi HTX will take "Building a Metaverse Financial Free Port" as its long-term mission, collaborate with more project parties, public chains, stablecoins, and other industry partners, appear at international events, and conduct rich activities to build a global brand reputation, improve international market development, and steadily implement the brand vision of "enabling 8 billion people worldwide to achieve financial freedom".

In 2024, Huobi HTX will maintain an open mindset, continuously learn and adapt to market changes, and with a strong momentum, create a people's exchange, continue to create more value for users, and drive the vigorous development of the crypto industry.

Trade with Huobi, register at https://www.htx.com.fj/en/v/register/double-invite/web/?invitecode=ymcx6223&inviterid=11354800

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