After the last HTX $U promotion, when I nervously deposited 1M and finally harvested Sun's rewards, I gradually removed my tinted glasses about HTX, started using HTX's products earnestly, and from time to time check what they are actually doing.

Recently, when someone was calculating the inflated trading volume of CEXs in the market, HTX also seemed to perform well, surprising many. Looking at the price performance of $THX and $TRX, it appears that HTX is not as bad as imagined? 😂😂

Today I had some free time to glance at the industry whitepaper they released yesterday—over 20 pages of extensive content. Although it didn't contain any startling “bold claims,” the overall quality is quite good, covering various angles of the current market situation, and some parts even exceeded expectations.

They didn't stop at simple market forecasts or project listings; instead, they approached from the structural changes in the macro financial system, discussing digital assets within the larger frameworks of global liquidity rebalancing, the evolution of monetary forms, and the fragmentation of geopolitics finance. Their perspective is superior to many vague, grandiose industry reports on the market.

They also mentioned issues such as regulatory tug‑of‑war, stablecoin liquidity risk, and systemic black swan events, without just singing praises; their stance isn’t overly bullish.

At the end of last year I attended an HTX space where @HTX_Molly and the HTX Research team shared several core judgments that now seem quite accurate, such as regulation being an integration rather than a crackdown, and exchanges needing to adopt a long‑term and compliant approach to survive. Last month a bunch of CEXs went to make a show of their investments 😂😂.

I think brothers who are focusing on industry direction can read it; stepping back from details to get a higher‑level view of the industry should also be helpful.