HTX, formerly known as Huobi, has been one of the oldest names in crypto trading. As of October 2025, it reports daily volumes in the $4–5B range according to CoinMarketCap and CoinGecko. Once considered a top-3 exchange globally, its reputation took hits from regulatory pressures, withdrawals of licenses in several countries, and a high-profile rebrand to “HTX” in 2023.
It still has deep liquidity, strong roots in Asia, and a loyal user base, but also lingering trust issues. Some traders swear by its liquidity and altcoin listings, others warn about opaque operations and fear it’s living off its old brand.
📜 Background & Reputation
Huobi launched back in 2013 in China and grew into a global giant. For years, it was the go-to exchange in Asia, rivaling Binance in market share. But regulatory crackdowns in China and later in other regions forced Huobi to adapt. In 2023, the exchange rebranded to HTX, sparking mixed reactions — some saw it as a fresh start, others as a signal that the old Huobi brand had lost its shine.
Despite challenges, HTX has survived multiple bear markets and exchange shake-outs. Few platforms in crypto can say they’ve been running for more than a decade, and that legacy still matters to some users.
🚀 Features and Offerings
HTX offers the full package:
- Spot trading with hundreds of coins listed.
- Futures and derivatives with up to 200x leverage on certain pairs, putting it among the highest-risk exchanges for leverage junkies.
- Staking and yield products under the “Earn” section.
- Launchpool and special listings for new tokens.
- A mobile app with strong adoption in Asia, praised for being quick and efficient.
The exchange is known for its liquidity in Asian trading pairs and altcoins. If you’re chasing tokens that are hot in China, Korea, or Southeast Asia, HTX often lists them early.
🛡️ Safety and Trust
Here’s where the debate starts. HTX has never suffered a catastrophic hack like some competitors, but its ownership structure and regulatory situation raise concerns. Critics point out that the exchange is less transparent about its leadership and operations than Binance or Coinbase.
In 2023 and 2024, rumors circulated on Crypto Twitter about potential liquidity issues, though withdrawals were never fully halted. These scares left many traders nervous, even if no collapse ever happened.
As of 2025, HTX has not released a full third-party proof of reserves, which keeps it behind exchanges like OKX that are leaning into transparency.
User complaints online often mention slow KYC, confusing withdrawal policies, and support delays. At the same time, positive reviews highlight deep liquidity and fast execution.
🎭 What the Users Say
Positive:
- “One of the best exchanges for Asian market tokens. Liquidity is strong.” — Google Play review
- “Trading fees are low, and I can find altcoins here before anywhere else.” — App Store feedback
Negative:
- “KYC took weeks, and I couldn’t withdraw in the meantime.” — Trustpilot reviewer
- “I’m always nervous after the rebrand, feels less stable than before.” — Reddit post
The vibe is that older users trust HTX from its Huobi days, while newer ones are more cautious.
🌍 Who Actually Uses HTX?
HTX remains heavily used in Asia. It’s especially strong in Chinese-speaking communities and Southeast Asia, and still has traction among professional traders who want deep liquidity outside Binance. In Western markets, however, HTX has lost mindshare to Coinbase, Binance, and Kraken.
📊 Real Examples
- During the 2021 bull run, Huobi (before rebrand) was a top-3 exchange by volume.
- In 2023–2024, rebrand rumors of instability caused outflows, but HTX weathered the storm.
- In 2025, it continues to list tokens popular in Asia earlier than Western exchanges.
🎰 Should a Degen Use It?
HTX is like the veteran poker player at the table — they’ve been around forever, know the game, and still pull big pots. But you’re not sure if they’re past their prime or still in full form.
If you want liquidity in Asian pairs or access to tokens that Binance doesn’t list first, HTX delivers. But if you want maximum transparency, it’s not the top choice. For degens, it can be a solid side exchange, but not your only one.
🏁 Final Degen Verdict
HTX is a fading giant that still packs a punch. It has history, liquidity, and a strong app, but the rebrand and lack of transparency keep it from being in the top trust tier.
Use it if you’re chasing Asian-market tokens or want an old-school exchange experience. But don’t treat it as your forever home.
WAGMI — if you know its limits.
