In early July, the crypto market fell sharply due to the potential selling pressure caused by the German governments sale of Bitcoin and Mt.Goxs repayment of assets. Bitcoin once fell below $54,000. However, after experiencing pain, the panic is gradually being digested. The US spot Bitcoin ETF has seen net inflows for several consecutive days recently. The latest CPI data is positive, and expectations for a rate cut in September have further increased. The market has also shown signs of recovery.
The current market liquidity is relatively scarce, and the impact of emotions on prices is amplified. Under the pull of positive and negative emotions, the market is likely to continue to fluctuate within a certain range. For traders, this volatility means more opportunities.
To maximize profits, different people will adopt different trading strategies, but is there a way to maximize traders profits while minimizing their risk costs? Huobi HTXs innovative activity Order Mining provides users with such a way.
New trading method, you can earn income by placing orders
In the current market where longs and shorts are competing, traders need to place a large number of orders, whether they are eager to buy BTC at a low price or aim for profit opportunities in swing trading. Huobi HTX order mining gives this operation more value, allowing users to easily earn profits by placing orders.
Similar to the trading mining launched in March this year, order mining aims to bring users a richer trading experience and more profit opportunities, while improving trading liquidity. However, compared with trading mining, the gameplay of order mining is more innovative and the entry threshold is lower. During the event, Huobi HTX will randomly snapshot the orders of the BTC/USDT spot trading pair every minute, and calculate and accumulate rewards for valid buy and sell orders according to the snapshot results. The users limit order only needs to meet two conditions to get rewards:
1. Order price*order quantity at the time of snapshot ≥ 100 USDT;
2. The difference between the pending order price and the latest transaction price (closing price) at the time of snapshot shall not exceed 0.5%.
Huobi HTX launched the first phase of order mining on June 26, which received good feedback from users. From July 10 to July 17, the second phase of order mining was launched, and the rewards were further increased. Now, not only can valid orders share the basic reward pool of 27.2 billion $HTX, but also users who place orders within the range of one thousandth of the buy and sell orders at the time of the snapshot will share an additional reward pool of 5 billion HTX. The higher the users order amount, the more mining rewards, which effectively increases the profit opportunities and reduces transaction costs and risk costs.
Stimulate liquidity and inject new vitality into the market
In addition to bringing benefits to users, Huobi HTX order mining has also made a certain contribution to stimulating market liquidity. According to CoinMarketCap data, after the first phase of order mining went online, the liquidity score of Huobi HTXs BTC/USDT trading pair showed a continuous upward trend, reaching a peak of 735 points on the day of launch. In addition, official data shows that in the first phase of the event, the maximum reward for a single user is about 9,300 USDT equivalent of HTX.
Under the current background of low liquidity, Huobi HTX has injected new vitality into the market through activities such as order mining, which reflects the sense of responsibility of a world-leading cryptocurrency exchange. It is reported that Huobi HTX will continue to optimize and upgrade order mining, build it into a flagship product like transaction mining, and launch it alternately with transaction mining to continuously provide users with a rich trading experience.
