HashKey's move marks a notable shift in the Hong Kong cryptocurrency landscape, where only professional investors had access to a broader range of
Hong Kong cryptocurrency exchange HashKey Exchange has added support for Avalanche (CRYPTO: AVAX) and Chainlink (CRYPTO: LINK) for retail investors, expanding their trading options beyond Bitcoin (CRYPTO: BTC) and Ether (CRYPTO: ETH).
According to an announcement by the exchange on Wednesday, the new trading pairs, AVAX/USD and LINK/USD, officially launched on August 28, 2024, at 18:00 (UTC+8).
? Avalanche @avax $AVAX and Chainlink @chainlink $LINK are set to list on HashKey Exchange for ?Retail Users?! ?Schedule: ✅Deposits & Withdrawals: Open ✅Trading: Opens at 18:00 on Aug 28, 2024(UTC+8) ✅Trading Pair: AVAX/USD, LINK/USD ✅Supported User Type:… pic.twitter.com/uxDzFiyHUl
— HashKey Exchange (@HashKeyExchange) August 28, 2024
The development marks a significant shift in the Hong Kong cryptocurrency landscape, where only professional investors previously had access to a broader range of cryptocurrencies.
Retail investors were previously limited to trading only Bitcoin and Ethereum on the exchange. Now, with the inclusion of AVAX and LINK, they can trade two more prominent digital assets.
Both coins were selected for listing due to their legal clarity, avoiding the regulatory complications faced by many larger cryptocurrencies.
Avalanche, denoted by the ticker AVAX, is the native coin of the Avalanche network and is currently ranked as the 13th largest cryptocurrency by market capitalization, valued at approximately $9.3 billion.
Meanwhile, Chainlink (LINK) is the coin of the Chainlink oracle network, which is ranked 16th with a market cap of around $6.9 billion.
HashKey Exchange will allow deposits and withdrawals of AVAX through the Avalanche network and LINK via the ERC20 network.
However, it's crucial to note that HashKey does not exercise any voting rights associated with virtual assets on behalf of its users.
Those who wish to participate in governance votes must withdraw their assets from the platform.
This listing expansion reflects Hong Kong's evolving crypto market, which has been bolstered by recent regulatory updates and growing interest in Web3 technologies.
With the Hong Kong Securities & Futures Commission (SFC) having streamlined its licensing processes, HashKey's move is a promising step towards a more inclusive and dynamic trading environment.
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