Crypto Bull Market Analysis

Today is truly a bull market for cryptocurrencies. Not only has Bitcoin surpassed $100,000, but various altcoins are also catching up. Among them, Justin Sun’s TRON (TRX) and his HTX (Huobi Token) have shown particularly impressive performances.

TRON/TRX

TRON (TRX) has been stable for a long time, even showing growth when Bitcoin has been in decline. The TRON network is highly practical, especially for transferring USDT, where transaction fees are much lower than on Ethereum (ETH). This is because TRON uses the DPoS (Delegated Proof of Stake) consensus mechanism, maintained by 28 Super Representatives. The registration fee to become a Super Representative is 9,999 TRX. At the current price of approximately $0.25 per TRX, the registration cost is about $2,500 at the current price.

TRON TRX 2024 Trends

I recall that during the STEEM platform days, SteemIt airdropped TRX tokens after Justin Sun acquired Steemit in 2020. Although the airdrop event stopped in the past two years, I managed to accumulate quite a bit of TRX back then—enough to buy a few chicken dinners. TRON has surged dramatically over the past two months, reaching an all-time high (ATH) of $0.4407. However, I sold some of my holdings when it was priced at around $0.1.

Huobi Token HTX

Huobi has truly lived up to its nickname “must-rise” (in Chinese). Formerly known as Huobi, the platform underwent significant changes after Justin Sun became one of its shareholders. Rumor has it that he had been steadily acquiring HT tokens over the past decade, eventually becoming a shareholder. After taking over, he delisted HT and promoted the new HTX token instead, which sparked controversy, with some accusing him of “cutting another round of leeks.”

Some HTX Posts (HTX Airdrops) can be found HTX on HTX

This year, I received quite a few HTX airdrops by using the HTX platform and could also claim some through my TRX wallet. HTX also offers DeFi products on its platform. Early on, the interest rates were as high as 20%, but now the flexible savings rate has dropped to 4%. However, this indicates that HTX still has room to grow. Generally, higher DeFi interest rates suggest lower token prices, as the high interest is used to incentivize holding. Conversely, lower interest rates typically suggest an anticipated price increase, as investors no longer rely solely on interest earnings.

Huobi HTX 2024 Trends

I believe in Justin Sun’s operations, but it’s important to be mindful of the risks. HTX has the DAO (Decentralized Autonomous Organization) and thus it has a great potential. The HTX can be used to reduce or forfeit the fees of transactions on the HTX Exchange.

Disclaimer

The above content represents my personal opinion only and does not constitute any investment advice. Please invest cautiously and bear all risks.

Register: a HTX exchange account for free (and earn tokens via DeFi products).

Blockchain Web3 Technology

• TRON (TRX) and Huobi (HTX) could be the next 100x tokens
• Introduction to Impermanent Loss
• Crypto Token Exchange Rate Computation Based on Breadth First Search Algorithm on Poloniex API
• Crypto is Just the Tip of the Blockchain Iceberg
• Blockchain Hardfork vs Soft-fork
• Layer 1 and Layer2 in Blockchain Technology
• Introduction to Shielded Contracts on Blockchain (EVM, TVM)
• How to Fix "Returned Error: replacement transaction underpriced" when Sending the ETH on Ethereum Blockchain?
• Blockchain and Web3.0 Interview Questions
• Integrating ChatGPT Prompt AI to STEEM blockchain
• When is Next Bitcoin Halving?
• dApps Scalability Challenges (Distributed Apps)

–EOF (The Ultimate Computing & Technology Blog) —