Crypto On LYO: The Blend — LYOTRADE 10trade Challenge, Bitcoin Rises 5.6%, Hong Kong to Shortlist Crypto Tokens for Retail Trading

3 mins read

What happened in the crypto world in the last week? Let’s see some interesting news together! 

LYOTRADE 10trade Challenge 

LYOTRADE users continue to participate in the 10trade Challenge. Here’s how to join: create a LYOTRADE account and perform different types of transactions using the LYOTRADE platform until February 28, 2023

The following are the activities that you need to do to get free USDT rewards: 

  1. Wallet top-up with USDT 
  2. Spot Trading 
  3. Leverage Trading 
  4. Futures Trading 
  5. Regular Log-in 

To know more about the guidelines about the 10trade Challenge, click here

Bitcoin On a Roll to Start the New Year – Rises 5.6% To $21,044

2023 started off with a bang for Bitcoin and other cryptocurrencies. After a dismal 2022, Bitcoin has come roaring out of the starting gate in the first two weeks of the year gaining in 13 of the last 15 days.

The cryptocurrency rising more than 24% during that stretch to $20,728. That compares to the last 52 weeks in which bitcoin lost more than 54%.

Bitcoin (BTC) prices were hovering around $20,749.71 at last check, according to data firm CoinGecko. They are up 22% in the last seven days. BTC prices on Jan. 13 even exceeded the symbolic threshold of $21,000. They had not crossed this threshold since November 5.

With a climb of more than 26%, Bitcoin is turning up the heat on bears who anticipated more challenges for riskier investments. 

Hong Kong to Shortlist Crypto Tokens for Retail Trading

Hong Kong securities watchdog will propose a subset of tokens it would allow for retail investors’ trading, its chief executive said on Wednesday, as it presses on with a new regulatory regime that will make the city more friendly to crypto start-ups.

As investor protection will continue to be the focus of the new virtual asset service provider (VSAP) regime, the Securities and Futures Commission (SFC) will also seek public views about specific guardrails for retail trading, said Julia Leung, chief executive officer at the commission.

Industry sources have said they expected the consultation on retail trading to start within the first quarter. Leung said the tokenization of investment funds and bonds will also fall under the purview of the SFC.

Stay tuned for next week’s crypto news! Follow LYOPAY social media pages: 

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