Crypto exchange Huobi rebranded to HTX to celebrate its tenth anniversary, according to a Sept. 13 statement from the platform.
Part of the statement reads:
“‘H’ stands for Huobi, ‘T’ represents TRON with a commitment to being all in TRON, and ‘X’ stands for the exchange. Looking at HTX through the combination of HT and X, HT represents the native token of the platform while X symbolizes the exchange. Hence, HTX is an exchange with its native token of HT…There is also a brand new slogan – ‘HTX, Just Trade It.'”
The exchange’s official English-language X (formerly Twitter) account has undergone the name change, with several of its products now reflecting this updated name.
HTX added that its “new mission is to build a metaverse free port with a vision to achieve financial freedom for 8 billion people on earth.”
Meanwhile, some market observers have pointed out similarities between Huobi’s new name and the now-defunct FTX crypto exchange. Additionally, some have drawn comparisons to the placeholder name previously used by the crypto claims trading platform OPNX, “GTX.”
Last month, HTX saw its spot market share jump to its highest point since October 2021 after its trading volume surged by 46.5% to $28.9 billion. The increase is more notable, considering the platform faced scrutiny about its stablecoin reserves and denied any reports that its executives were arrested in China.
