In a remarkable display of resilience amid a challenging crypto market, HTX Exchange has reported a staggering 210% increase in net crypto deposits for the first quarter of 2025, compared to the previous quarter. This growth comes despite the ongoing bear market that has plagued the cryptocurrency sector since the beginning of the year.
According to HTX's Q1 2025 report, the exchange also registered a 116% surge in new users during this period. "It’s arrived, the HTX Q1 2025 report: Net collection up 210% QoQ – Massive growth in user activity and platform utility – Milestones achieved, even in a volatile market. What’s next? We continue to build: Smarter asset discovery, Greater compliance, DAO-first governance," the report stated.
March 2025 proved to be a particularly fruitful month for HTX, with a 127% increase in natural traffic compared to February, alongside record highs in search volume and backlinks. The exchange credits much of its momentum to Justin Sun, the Global Advisor of HTX, who was recently featured on the cover of Forbes. Sun, the founder of Tron (TRX), is considered the fourth leader in the crypto exchange space, following the likes of CZ, SBF, and Brian Armstrong.
HTX's success can also be attributed to the integration of various new tokens, particularly in the AI category, including VIRTUAL, AVAAI, LUNA, and the memecoin TRUMP. DeFi tokens such as GRIFFAIN and GRIFT have nearly doubled in value, while Layer 2 tokens like LAYER (+153%), XION (+116%), and KAITO (+99%) have also performed exceptionally well.
In addition to these developments, HTX's Launchpool program has attracted an impressive 178,000 users, further solidifying its position in the market. Sun's public involvement with HTX began in February 2024 when he shared a screenshot of his HTX wallet on social media, showcasing a staggering $1.6 billion in Bitcoin (BTC).
However, the road hasn't been entirely smooth for HTX. In September 2023, the exchange suffered a significant crypto hack, losing 5,000 ETH, equivalent to $8 million at the time. Sun reassured users that the exchange had covered the losses and resumed operations. He even proposed a $400,000 white hat reward for the hacker if they returned the stolen funds.
Meanwhile, Xapo Bank has also reported impressive figures, recording a 14.2% increase in Bitcoin trading volumes in Q1 2025 compared to the last quarter of 2024. The bank's first Digital Wealth Report revealed that user confidence in Bitcoin remains strong, even in the face of global uncertainties.
Deposits in EUR at Xapo Bank surged by 50%, while USDC deposits grew by 19.8% on a quarterly basis. In contrast, USDT deposits fell by 13.4%, coinciding with the withdrawal of Tether's euro-pegged stablecoin from various exchanges. Gadi Chait, Xapo Bank's Chief Investment Officer, commented, "The opportunity for Bitcoin has always been its long-term performance."
Despite Bitcoin's price dropping below $100,000 in February, Xapo Bank members increased their BTC purchase orders to 50.7%, up from 41% in the previous quarter. Overall BTC buying activity remained robust through March 2025, closing the quarter above the previous quarter's average.
Chait noted that the current volatility does not diminish Bitcoin's importance, stating, "The current volatility does not decrease the importance of Bitcoin. As a benchmark of the digital currency ecosystem, Xapo remains firmly committed to being Bitcoin-first."
Founded in 2013, Xapo Bank is a crypto-native private bank that focuses on integrating digital assets into everyday financial infrastructure. The bank, regulated by the Gibraltar Financial Services Commission, has recently transferred its license to the United Kingdom, expanding access for users across Europe and London.
As both HTX Exchange and Xapo Bank navigate the complexities of the cryptocurrency market, their reports signal a noteworthy trend: a growing appetite for crypto assets among users, despite the turbulent economic landscape. With innovative strategies and strong leadership, these platforms are positioning themselves for continued growth and influence in the ever-evolving digital currency space.
