HashKey Exchange, a fully licensed cryptocurrency exchange based in Hong Kong, has recently announced the introduction of Avalanche (AVAX) and Chainlink (LINK) trading pairs for retail investors. This move comes as a significant development in the Hong Kong cryptocurrency market, where retail investors were previously limited to trading only Bitcoin (BTC) and Ethereum (ETH). The addition of AVAX and LINK provides retail investors with more diverse trading options and access to prominent digital assets beyond the traditional offerings.
The new trading pairs, AVAX/USD and LINK/USD, officially launched on August 28, 2024, at 18:00 (UTC+8). This expansion of trading options on HashKey Exchange is expected to enhance the overall trading experience for retail users in Hong Kong. By offering access to AVAX and LINK, HashKey Exchange aims to cater to the growing demand for a wider range of cryptocurrencies among retail investors in the region.
Avalanche (AVAX) is the native coin of the Avalanche network, currently ranked as the 13th largest cryptocurrency by market cap, valued at approximately $9.3 billion. Chainlink (LINK), on the other hand, is the coin of the Chainlink oracle network, holding the 16th spot with a market cap of around $6.9 billion. Both AVAX and LINK were selected for listing on HashKey Exchange due to their legal clarity, which helps avoid regulatory complications that some larger cryptocurrencies may face.
Retail investors in Hong Kong can now trade AVAX and LINK on HashKey Exchange, expanding their investment opportunities beyond Bitcoin and Ethereum. The inclusion of these new trading pairs is a significant step towards a more inclusive and dynamic trading environment in the Hong Kong cryptocurrency market.
HashKey Exchange allows for deposits and withdrawals of AVAX through the Avalanche network and LINK via the ERC20 network. It’s important to note that HashKey Exchange does not exercise voting rights associated with virtual assets on behalf of its users. Those looking to participate in governance votes must withdraw their assets from the platform to do so independently.
The listing expansion on HashKey Exchange reflects the evolving landscape of the crypto market in Hong Kong, driven by recent regulatory updates and increased interest in Web3 technologies. With the Hong Kong Securities & Futures Commission (SFC) streamlining its licensing processes, HashKey’s move to introduce AVAX and LINK trading pairs for retail investors signifies a positive step towards a more inclusive and dynamic trading environment in the region. Retail investors now have access to a broader range of cryptocurrencies, providing them with more options to diversify their investment portfolios.
Overall, the introduction of AVAX and LINK trading pairs on HashKey Exchange is a significant development for retail investors in Hong Kong. With the inclusion of these new assets, retail traders now have access to more diverse trading options beyond the traditional offerings of Bitcoin and Ethereum. This move reflects the evolving landscape of the cryptocurrency market in Hong Kong and demonstrates HashKey Exchange’s commitment to providing retail investors with a dynamic and inclusive trading environment.
