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The top priority for cryptocurrency investors in June was Hong Kong’s crypto move. New regulations that could trigger billions of dollars in investment have come into effect in the region. Additionally, the first crypto trading platform in the region has started its operations. Moreover, there is great news on the horizon for two altcoins.
Hong Kong Cryptocurrencies
According to Wu Blockchain, investors in Hong Kong have been buying and selling cryptocurrencies for a while now. Hashkey, the Hong Kong-based crypto exchange, will soon enable professional investors to trade MATIC/USD and AVAX/USD. The official launch of these trading pairs could naturally trigger an increase in demand and price for these altcoins.
Individual investors can currently buy and sell BTC, ETH, USDT, and USDC on the exchange. Previously, the US SEC had listed numerous L1 tokens such as MATIC, AVAX, and SOL as securities. However, Hashkey, the first licensed crypto platform in Hong Kong, has officially announced that the east-west divide in the crypto world will continue. Once they obtain regulatory approval, Hashkey’s ability to open these trading pairs to professionals can contribute to medium-term optimism.
Although the BTC trading pair was activated in June, the volume started to pick up towards the end of July. Today, the platform is seeing low interest in the BTC pair. Due to the overall negative sentiment in the market, the BTC trading pair has only generated a volume of $15,000.
