HashKey Exchange, a licensed virtual asset trading firm in Hong Kong, has expanded its offerings to include Avalanche (AVAX) and Chainlink (LINK). The exchange said these tokens are now available for trading in HKD and USD pairs.
Benefits of the Listing on AVAX and LINK
HashKey Exchange has been gaining traction in the industry recently. Its decision to list AVAX and LINK highlights its commitment to expanding its services. Introducing these two tokens opens doors to a broader audience of investors. Trading in HKD and USD further increases the platform’s appeal to users from different regions.
Avalanche, a smart contracts platform, has been hailed as a strong 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 robust technology and partnerships make it a strong contender for future growth. The listing on the Hashkey Exchange might help boost its liquidity and trading volume. These could positively impact its price performance.
Meanwhile, Chainlink is known for its decentralized Oracle network, which connects smart contracts with real-world data. LINK, Chainlink’s native token, has also experienced fluctuations in price, partly due to the overall volatility in the crypto market.
Despite this, Chainlink’s consistent 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 retail and institutional investors looking to capitalize on its potential.
Will AVAX and LINK Rebound Soon?
The key question for investors is whether this listing might soon trigger a rebound of AVAX and LINK prices.
The broader cryptocurrency market has crumbled under key macroeconomic factors, regulatory uncertainties, and shifts in investor sentiment. However, the collaboration of Avalanche and Chainlink with the HashKey Exchange hints at expanding demand.
As of writing, the AVAX price was $24.43, down 4.8% in the past 24 hours. Likewise, LINK changed hands for $11.48, a 1.17% decrease over the past 24 hours.
The current market capitalization of $9.8 billion and $6.9 billion, respectively, boasts immense growth potential.
Avalanche and Chainlink Expands With New Investments
In another recent development, Grayscale Investments announced its association with Avalanche. The company has launched the Grayscale Avalanche Trust to enable institutional investors to gain exposure to AVAX.
This action by Grayscale is in sync with Franklin Templeton’s AVAX integration. It shows the growing institutional attention towards Avalanche. Franklin Templeton decided to bring its OnChain U.S. Government Money Fund (FOBXX) to Avalanche. Notably, the use of Avalanche blockchain in the DeFi sector may increase because 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 wants to integrate LINK’s price data feeds into its tokenized treasury fund (USTD).
