HashKey Exchange announced that Huake Intelligent Investment Co., Ltd. ("Huake Intelligent Investment"), a Hong Kong-listed company, plans to open an account with HashKey Exchange in the name of its wholly-owned subsidiary in the fourth quarter.
Huake Intelligent Investment's move reflects its affirmation and attention to the development prospects of the Web3 industry. HashKey Exchange stated that the platform will provide secure, professional, and compliant digital asset trading services to Huake Intelligent Investment.
Huake Intelligent Investment plans to officially settle on the HashKey Exchange platform and conduct digital asset trading in the fourth quarter. In the future, HashKey Exchange will explore potential opportunities for in-depth cooperation with Huake Intelligent Investment, innovate in security and compliance, and provide users with safer and more convenient channels for digital asset investment.
As the regulatory environment becomes clearer, HashKey Exchange expects more high-quality institutions in the real economy to join the digital asset industry.
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As reported by US media Fortune, X (formerly known as Twitter) is currently valued at $19 billion under the company's employee equity compensation plan. According to insiders, the privately held company owned by Elon Musk will issue restricted stock to employees at a price of $45 per share.
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Solana engineers have released a new validator software release, version v1.17.20, to upgrade and restart the Solana network after a significant outage. All Solana-related activities, including trading and staking, were halted after the network stopped processing blocks on Tuesday. Validator operators are asked to prepare for an upgrade and restart of the network, and once 80% of the stake has restarted, the cluster will resume block production. The Solana network has suffered over a dozen outages in the last few years due to the design of the system, which handles all their consensus on-chain.
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Deribit has expanded its options offerings to include Solana (SOL), Ripple (XRP), and Polygon (MATIC) in response to the growing demand for simpler trading instruments in the volatile cryptocurrency market. The introduction of linear options provides a more straightforward and predictable trading environment compared to traditional options, as the option contract's value is directly linked to the underlying cryptocurrency's price movement. This move is expected to attract traders who are seeking an easier way to navigate the challenges of the cryptocurrency derivatives market. Deribit already offers linear options and will now provide its users with an immediate way to speculate on the future price movement of these altcoins or protect their positions.
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The anticipated approval of Bitcoin spot exchange-traded funds (ETFs) by the SEC could lead to a significant upside for Bitcoin’s price, according to crypto YouTuber Crypto Rover.
Currently, there are 12 proposals for Bitcoin spot ETFs in the pipeline that allow direct ownership of BTC. The widespread expectation is that the SEC will approve all applications simultaneously to prevent any one issuer from gaining an advantage, Rover explained.
The key question then becomes: which ETF will attract the most investment and trading volumes? For any ETF provider, being the dominant player is ideal, as larger volumes typically equate to lower fees.
“As a result, there’s an expectation that every issuer will launch extensive marketing campaigns for their respective ETFs. The goal is to attract the most efficient market makers,” Rover noted.
The aftermath of the anticipated ETF approvals could be even more impactful than many expect. With all issuers aggressively promoting their Bitcoin ETFs, Rover believes this competitive marketing could drive significant new inflows into BTC and propel the next major bull run.
This likely explains why major financial figures like BlackRock’s Larry Fink are making media appearances to promote their planned Bitcoin ETF products.
In summary, Rover sees the pending flood of SEC-approved, physically-backed Bitcoin ETFs as a potential catalyst for Bitcoin to surge to new all-time highs. The jostling among providers to secure the most BTC volumes should generate tremendous hype and exposure for the leading cryptocurrency.
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This content aims to enrich readers with information. Always conduct independent research and use discretionary funds before investing. All buying, selling, and crypto asset investment activities are the responsibility of the reader.
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According to NFTGo data, the total trading volume of "Bored Ape Yacht Club" (BAYC) has reached 1.5 million ETH, with a market value exceeding 250,000 ETH. The current floor price for BAYC is 25.05 ETH, with a 7-day increase of 11%.
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According to a report by Tokenized Assets Alliance (TAC), the tokenization of US Treasury bonds will see significant growth in 2023, with an increase of over 600% from $114 million in January to $831 million in December, mainly concentrated in products offered by Franklin Templeton and Ondo Finance. The total value of private credit platforms is expected to surge by 89% in 2023, from $256 million to $485 million.
The report predicts that despite regulatory uncertainty, liquidity issues, and infrastructure problems, tokenization will continue to grow in 2024. Stablecoins, private credit, tokenized treasuries, and digital bonds will continue to develop, promoting the overall adoption of tokenized assets in the market.
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