The Hong Kong Virtual Asset Rating Agency (HKVAC) has revealed the results of index changes.
The changes to the index will go into effect on January 19. Internet Computer (ICP), Near (NEAR), Optimism (OP), Injective (INJ), and Immutable (IMX) have been added to the HKVAC global major cryptocurrency index.
At the same time, TrueUSD (TUSD), Binance USD (BUSD), Hedera (HBAR), Filecoin (FIL), and MakerDAO (MKR) have been removed. Solana (SOL) will be added to the HKVAC global major cryptocurrency top 5 index and weighted index, taking Ripple’s place (XRP).
Avalanche (AVAX) will be added to the HKVAC Global Large Cryptocurrency Top 10 Index and Weighted Index, bringing Tron (TRX) back. The last time XRP was included in the HKVAC Cryptocurrency Global Large Top5 Index was in October 2023, when XRP took the position of the USD Coin (USDC).
The important large market-cap cryptocurrency indices have also seen the addition of HBAR, MKR, and Quant (QNT), as well as the removal of HEX, ICP, and Cryptonex (CNX) coins.
Hong Kong virtual asset rating company is called HKVAC. HKVAC aims to give a thorough representation of virtual assets in Hong Kong with the help of prominent individuals.
However, there has been significant criticism in the Hong Kong community concerning the index’s benchmark due to the inclusion of platform tokens, privacy tokens, and other tokens classed as securities by the U.S. Securities and Exchange Commission (SEC).
Hong Kong intends to become a major global cryptocurrency hub in 2022. The government has also started to create and incorporate its stablecoin into the economy, with the main goal being to enhance the payment process across various enterprises and industries.
Simultaneously, the government is dedicated to improving the education of experts for the Web3 sector.
