Positive developments continue to occur in Hong Kong, which has taken important steps towards becoming a cryptocurrency center.
At this point, Hong Kong's licensed cryptocurrency exchange HashKey continues to expand its altcoin portfolio while listing consecutive altcoins for professional investors.
HasKey currently offers Bitcoin (BTC), Ethereum (ETH), Avalanche (AVAX), LINK, Aave (AAVE), Cosmos (ATOM), Lido DAO (LDO), Maker (MKR) and Polkadot (DOT) services for its investors.
As HasKey continues to expand its portfolio, 24-hour Bitcoin transaction volume rose to a staggering $3.48 billion, according to news site CoinGape.
It is also noteworthy that HasKey's total transaction volume reached 4.21 billion dollars, and this increase left Hashkey exchange behind Binance, the world's largest cryptocurrency exchange, in terms of transaction volume.
This sudden increase was met with skepticism by the market. The spike at this point raised concerns about the possibility of fraudulent trading by market makers on the platform, raising concerns that market makers were wahsing trades (self-dealings).
Wahsing trading is defined as the buying and selling of the same tokens, often to increase the trading efficiency of the exchange.
As you may recall, Hashkey became the first Hong Kong crypto exchange to receive a license to offer cryptocurrency trading for retail investors in August.
*This is not investment advice.