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Solana’s SOL was close to on Friday morning as the hype around the blockchain’s fast transactions, low fees, and lottery of meme coin issues continued The value of the tokens locked in Solana applications increased in parallel, from $400 million in November to $1.3 billion in July 2022. OP tokens from layer 2 Optimism also gained in the last 24 hours, climbing 23%. data provided by DeFi Llama indicates that Optimism TVL (total value locked) is close to $900 million. Bitcoin fell slightly for the day.

Hong Kong regulators said they are ready to consider applications for spot crypto exchange-traded funds (ETFs). In a joint statement, the Securities and Futures Commission (SFC) and Hong Kong Monetary Authority (HKMA) said the virtual asset environment has changed since 2018, when the SFC formulated a “professional-investors only” regulatory approach. Hong Kong’s approach to crypto has changed this year. The regulators have a new opinion about retail exposure to digital currencies. The SFC updated their rule book in October to allow more investors to invest in ETFs and spot-crypto. Last month, SFC CEO Julia Leung announced that the regulator would allow retail investors to purchase spot crypto ETFs.

CoinGecko reports that Coinbase is the third-largest crypto exchange by trading volume, behind only Binance, which is also registered in France. CoinGecko reports that Coinbase is third largest crypto exchange in terms of trading volume. It is only surpassed by Binance and Bybit, both registered companies in France. Coinbase stated that registration allows them to provide custody of digital asset, buy and sell digital assets in exchange for fiat currency, and trade digital assets.

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Sheldon Reback is the editor.