Questions rise as Justin Sun-linked HTX’s activities remain shrouded in mystery
Wash trading at HTX?
Earlier in July, the crypto industry witnessed the launch of the controversial but hugely popular Worldcoin [WLD]. HTX, then Huobi, was among the first to list the coin and open it for trading.
Inorganic jump in market share
Interestingly, around the time of WLD’s launch, HTX’s market share spiked from 4% to almost 20%. This was despite the fact that none of the other major exchanges saw a similar surge in volume.
Increase in USDT depegs
Another anomaly spotted with HTX was the high number of stablecoin Tether [USDT] depegs. According to the report, the depegs were a result of intense selling of USDT in favor of another stablecoin USD Coin.
