Huobi's Q2 revenue grows 2.38%, rising for two consecutive quarters
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Huobi's Q2 revenue grows 2.38%, rising for two consecutive quarters
Huobi's gradual improvement is no accident, nor can it be ignored.
Navigating Web3 tides with focused insightsOn July 16, HTX DAO successfully carried out its Q2 2024 liquidity contribution, marking the second such contribution since the establishment of HTX DAO.
A total of 9,631,105,301,954 HTX and 80,223,880 TRX were contributed this time, amounting to a total value of $21.5 million. With this latest contribution included, the cumulative total from both rounds reaches 16,049,198,574,764 (approximately 16 trillion) HTX tokens added to the liquidity pool, representing 1.6% of the total circulating supply.
The relevant transaction hashes can be viewed on the official HTX DAO website.
HTX Exchange Continues Revenue Growth in Q2
Since the amount of liquidity contribution is determined by HTX Exchange's revenue, each quarter the exchange converts 50% of its revenue into HTX and TRX tokens, which are then deposited into the liquidity pool.
Based on the $21.5 million liquidity contribution, HTX’s Q2 revenue reached $43 million—up 2.38% compared to $42 million in Q1.
Although HTX’s growth rate slowed slightly in Q2 compared to Q1, it remains impressive that the platform maintained positive momentum amid an overall bearish and volatile market.
Platform Metrics Align with Revenue Growth
Some may question the accuracy of estimating revenue solely based on liquidity contributions. However, objective operational data supports the authenticity of these figures.
On June 7, crypto data firm Kaiko released its Q2 2024 Exchange Liquidity Report. Among the 43 major centralized exchanges surveyed, HTX received an AA rating, ranking fourth alongside Upbit (South Korea’s largest exchange), with an average trading volume as high as $60.5 billion.
Liquidity is a key indicator of trading experience on an exchange. Improved liquidity means more users are trading via HTX, and their transaction sizes are increasing.
A few days ago, Justin Sun shared on X (formerly Twitter) Coingecko’s exchange trading volume rankings, where HTX had climbed into the top three. While a single 24-hour snapshot may not be conclusive, examining daily average volumes over the past month offers stronger evidence.
According to Coingecko’s spot trading data from June 15 to July 15, 2024, the average daily trading volumes were: Binance $7.14B, Bybit $3.32B, HTX $2.06B, Coinbase $1.96B, OKX $1.87B. HTX still holds third place—an achievement worthy of admiration. When they said they’d return to the "Big Three," they quietly made it back into the global Top 3.
HTX’s steady improvement is neither accidental nor insignificant. Its proactive embrace of high-quality assets in emerging sectors, innovative upgrades to its platform token, and continuous creative marketing campaigns have all contributed significantly to its resurgence. Currently, there are no signs of slowing down in HTX’s growth trajectory.
By year-end, HTX is likely to reach parity with Bybit in terms of performance.
By then, all user airdrops of HTX will also have been fully distributed—leaving little time left for those looking to accumulate HTX at lower prices.
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