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Hong Kong Virtual Asset Consortium (HKVAC) removed Ripple’s XRP from its top five global crypto index, replacing it with Solana.
SOL surpassed XRP in market capitalization in December 2023, leading to its inclusion in the HKVAC index. Avalanche (AVAX) also gained a spot in the HKVAC’s top 10 index, replacing Tron’s TRX token. While XRP’s exclusion might raise eyebrows, it’s essential to look at the broader context.
The HKVAC’s indexes serve as a barometer for the crypto market, and their recent adjustments signal a broader trend towards diversification and the recognition of emerging technologies in the blockchain space.
Interestingly, the crypto community in Hong Kong continues to thrive, with the region’s financial regulator gearing up to welcome spot crypto exchange-traded funds.
