In a recent announcement, Justin Sun, the founder of TRON took to Twitter to confirm that TRON’s TRX has made a significant expansion by becoming operational on the Ethereum blockchain through the utilization of the BitTorrent bridge.
As of now, TRON’s TRX is trading at $0.08248, reflecting an impressive 2% increase in the past hour. The integration of the BitTorrent bridge enables seamless and efficient asset transfers between Ethereum Virtual Machine (EVM)-compatible blockchains and the Tron network. This bridge is poised to enhance TRON’s native cryptocurrency’s liquidity and foster its utilization within decentralized finance (DeFi) protocols.
Hong Kong Embraces Crypto
Hong Kong has taken a significant leap towards establishing itself as a cryptocurrency hub by announcing the opening of its crypto market to retail traders. Until now, the trading of cryptocurrencies in Hong Kong was limited to institutional investors and professionals since 2018. However, new regulations will soon allow retail trading, expected to commence in the second half of 2023.
Notable figures in the crypto industry, such as Tron founder Justin Sun and Huobi stakeholders, have praised this move by Hong Kong. Sun expressed that the decision to permit retail investors to engage in crypto trading is a substantial development for the crypto landscape in China. He further predicted that Huobi, the cryptocurrency exchange, would obtain a license in Hong Kong within the next 6 to 12 months. Huobi has already submitted an application to become a virtual asset service provider (VASP) as a proactive step.
The decision to open Hong Kong’s crypto market to retail traders signifies a major milestone in the region’s journey to embrace digital assets. This move is expected to foster increased participation and growth in the cryptocurrency industry, enabling individuals to actively engage in the trading of digital assets and contributing to the overall expansion of Hong Kong’s crypto ecosystem.
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