Recently, a tweet titled “HTX & Justin’s Leadership” by Sjuul, founder of AltCrypto Talk and co-founder of Kollect Agency, sparked heated discussions in the market. The article noted that SunPump’s success showcases Justin Sun’s keen sense and insights into market trends and changes in the crypto market. At the same time, with Sun’s guidance, HTX has rapidly gained momentum and achieved significant milestones.
HTX Elevates SunPump to New Heights
In his tweet, Sjuul pointed out that with SunPump’s significant market influence and growth potential, many early investors have received great returns, and this wealth effect has attracted more memecoin investors to join.
Since its beta launch on August 13, SunPump has generated over 28 million TRX in revenue (approximately $4.5 million).. More than 70,400 projects were created in a month, averaging more than 3,700 launches per day.
Sjuul also analyzed that SunPump’s close collaboration with HTX has pushed it to new heights.
According to information on the HTX website, the seven projects launched in the SunPump ecosystem have seen multifold increases, with some growing nearly 100 times. For instance, SUNDOG, launched on HTX on August 16, has maintained a 30-fold increase as of September 12.
* Source: Screenshot from the HTX website on September 12, 2024 (UTC)
Over $150 Million Prize Pool for Liquid Restaking Triggers Market Frenzy
On February 29 this year, HTX launched Liquid Restaking, becoming the first exchange in the crypto market to allow users to participate in on-chain restaking with no entry barriers. Upon its launch, this service drew the attention of over 20 million users and attracted 58,000 participants. With such popularity, HTX doubled its quota twice in two months, increasing the total staking quota to over $150 million.
Sjuul’s analysis in the article highlighted that HTX’s Liquid Restaking is an innovative service worth noting. It allows investors to participate in staking without directly investing their own funds. The benefits of this approach include reduced risks for users, ensured liquidity of assets, and, most importantly, a significantly lowered participation threshold, which has attracted substantial user assets to HTX.
HTX + Justin Sun = A Better Future
Sjuul also stated that Justin Sun’s involvement has significantly boosted HTX’s overall ranking.
According to the Q2 2024 Exchange Liquidity Report published by crypto data company Kaiko, HTX has been rated AA among 43 major centralized exchanges, with liquidity ranked fourth and an average trading volume of $60.5 billion.
According to CoinGecko data, HTX has become the second-ranked exchange globally, just behind Binance. This marks the third time this year that HTX has entered the Top 2.
In addition, Sjuul believed that the establishment of HTX DAO has pushed forward the democratization process of HTX.
He explained that HTX DAO aims to help users engage more deeply in decision-making, governance, and operations within HTX, ultimately making HTX a “people’s exchange”. For example, tokens on SunPump that meet certain trading volume and market capitalization requirements can be listed on HTX, reflecting the consensus of the people. For both HTX DAO and HTX, investing in memecoins is not just a short-term speculative play but also an acknowledgment of community culture, shared beliefs, and innovative spirit.
In light of this, Sjuul concluded in his tweet, “Under Justin’s leadership, the HTX exchange cannot be overlooked, and HTX is likely to become a top exchange. HTX DAO and its governance token $HTX should also be given due attention.”
