Understanding the Market | Hong Kong Stock Market Cryptocurrency Concept Stocks All Strengthened!
LINEKONG rose by 34.62%, BOYAA rose by 20.94%, and OKG TECH rose by 17.83%. Trump announced the establishment of a U.S. cryptocurrency reserve, designating Ripple, Solana, and Cardano as core strategic reserves. Bitcoin's price once broke through $95,000, currently reported at $92,848. Trump will host the first White House cryptocurrency summit on March 7, further supporting the cryptocurrency industry
According to Zhitong Finance APP, cryptocurrency concept stocks have strengthened across the board. As of the time of writing, LINEKONG (08267) rose 34.62% to HKD 0.35; BOYAA (00434) rose 20.94% to HKD 4.1; OKG TECH (01499) rose 17.83% to HKD 0.152; Xiong'an Technology (01647) rose 11.84% to HKD 0.085; and New Fire Technology Holdings (01611) rose 7.89% to HKD 1.64.
In terms of news, U.S. President Trump stated on March 2 local time that the executive order regarding digital assets designates a strategic reserve of cryptocurrencies, including Ripple (XRP), Solana (SOL), and Cardano (ADA). Trump mentioned that Bitcoin (BTC) and Ethereum (ETH), like other valuable cryptocurrencies, will be at the core of the (cryptocurrency strategy) reserve. As a result, the price of Bitcoin briefly surpassed USD 95,000 on Sunday, and as of the time of writing, Bitcoin is priced at USD 92,848 per coin.
Additionally, Trump will host the White House's first cryptocurrency summit this Friday (March 7), further establishing his support for the cryptocurrency industry. The White House stated in a statement on the evening of February 28 that Trump will deliver a speech at the meeting, "Participants will include well-known founders, CEOs, and investors from the cryptocurrency industry, as well as members of the President's Digital Asset Working Group."