According to CoinGecko data, the exchange’s daily trading volume rose to a high of around $4.5 billion on December 1. In comparison, Binance’s trading volume in the past 24 hours was $11.3 billion. On December 3, HashKey’s daily trading volume dropped sharply to $275 million, which was still higher than usual and close to the volume recorded in HashKey’s first month online.
Part of the HashKey Group, the exchange in August this year became the first to receive a license to offer retail cryptocurrency trading in Hong Kong as part of the region’s new regulatory regime. It officially opened to traders on November 1st. A spokesperson for HashKey Group attributed the surge in trading volume to trading incentives in the form of HSK tokens (or EcoPoints), which were first launched in April. (The Block)