HashKey Exchange has been gaining traction in the industry recently. Its decision to list AVAX and LINK highlights its commitment to expanding its services.
Hong Kong-based virtual asset trading firm HashKey Exchange has expanded its offerings to include Avalanche (AVAX) and Chainlink (LINK).
These tokens are now available for trading in HKD and USD pairs on the exchange.
HashKey Exchange has been making waves in the industry of late. Its decision to list AVAX and LINK further highlights this expansion. The introduction of these two tokens opens the door to a wider audience of investors. Furthermore, trading in HKD and USD will increase the platform's appeal to users from different regions.
Smart contracts platform Avalanche has been touted as a major competitor to Ethereum. It reportedly offers higher throughput and faster transaction finality, making it an attractive protocol for decentralized applications (dApps) and enterprise-grade projects.
AVAX, the native token of the Avalanche network, has seen significant volatility in recent months. However, its strong technology and partnerships make it a strong contender for future growth. The listing on the Hashkey Exchange could help boost its liquidity and trading volume, which could positively impact its price performance.
Meanwhile, Chainlink is known for its decentralized oracle network, which connects smart contracts to real-world data. LINK, Chainlink's native token, has also experienced price fluctuations, partly due to the overall volatility in the crypto market.
Despite this, Chainlink's continuous expansion of partnerships and integrations across various blockchain networks has kept it a key DeFi enabler. As such, the availability of LINK on Hashkey Exchange may attract both retail and institutional investors looking to capitalize on its potential.
Will AVAX and LINK rebound soon?
The big question on investors' minds is whether this listing could soon trigger a rebound in AVAX and LINK prices.
The broader cryptocurrency market has taken a beating amid key macroeconomic factors, regulatory uncertainties and shifting investor sentiment. However, the collaboration of Avalanche and Chainlink with the HashKey Exchange suggests expanding demand.
At the time of writing, the price of AVAX was $24.43, down 4.8% over the past 24 hours. Similarly, LINK was trading at $11.48, down 1.17% over the past 24 hours.
Their respective market capitalizations stood at $9.8 billion and $6.9 billion, respectively, boasting potential for substantial growth.
Avalanche and Chainlink expand with new investments
In other recent developments, Grayscale Investments has announced its partnership with Avalanche. The company has launched the Grayscale Avalanche Trust to enable institutional investors to gain exposure to AVAX.
This move by Grayscale coincides with Franklin Templeton's integration of AVAX. It highlights the growing institutional interest in Avalanche. Franklin Templeton decided to bring its OnChain U.S. Government Money Fund (FOBXX) to Avalanche. In particular, the use of Avalanche blockchain in the DeFi sector may increase as more financial products are being developed on this platform.
Similarly, Chainlink announced its partnership with Superstate, an asset management firm specializing in tokenized financial products. The duo plan to integrate LINK's price data feeds into its tokenized treasury fund (USTD).
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