Bitcoin Trader Warns of Correction as BTC Dominance Reaches 2021 Levels; Solana Leads Market Gains

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Dominance refers to the ratio between the market capitalization of BTC to the total market capitalization of all cryptocurrencies combined and is often used as a gauge for market sentiment. PLUS: Some Solana tokens are up as much as 70%.

Solana’s SOL and ecosystem memecoins, such as popcat (POPCAT), led crypto market gains on Thursday, with bitcoin (BTC) and majors mostly flat. A bitcoin trader believes the rising dominance rate for suggests short-term bearishness.

BTC added under 1% in the past 24 hours, with majors ether (ETH), BNB Chain (BNB), xrp (XRP) and dogecoin (DOGE) showing mixed price action. The broad-based CoinDesk 20 (CD20), a liquid index tracking the largest tokens by market capitalization, rose 0.43%.

Last week, a widely tracked bitcoin dominance indicator reached over 57% on CoinMarketCap, to its highest level since April 2021. Dominance refers to the ratio between the market capitalization of BTC to the total market capitalization of all cryptocurrencies combined and is often used as a gauge for market sentiment.

High dominance might indicate that bitcoin is leading the market, which can be seen when investors prefer the relative stability and established nature of bitcoin over the higher risk associated with altcoins.

Conversely, a decrease in bitcoin’s dominance might suggest that investors are moving their capital into altcoins, potentially signaling the start of an “altcoin season.”

“Ethereum continues to lose market share to bitcoin and other altcoins. As a result, BTC’s share of all cryptocurrency capitalization has risen to 57.3%, the highest since April 2021,” Alex Kuptsikevich, senior market analyst at FxPro told CoinDesk in an email. “But that doesn’t necessarily mean an upward trend for the top cryptocurrency, which has pulled back below $67K, losing 1% in the last day and nearly 4% from its peak on 21 October.

“The price is now close to a local support level at $66.8K. A break of this support will open the way for a deeper correction to $65.5K, near the 61.8% retracement level from the last rally and the late September top,” Kuptsikevich warned.

SOL leads market

SOL jumped 5% to $173 in the past 24 hours, extending weekly gains to 14% as it reached price levels last seen in early August. SOL set a record high against ether, as reported, while, network-based memecoins POPCAT, BONK and GOAT rose as much as 70% amid a bump in network volumes and trading activity.

The Solana ecosystem is a flourishing hotbed for trading activity for its engaged community and prevalence of small-cap trading – where frenzied memecoins trend often last a few weeks that boosts SOL prices.

Artificial intelligence-themed memecoins are the current flavor of the week, where projects claiming to have AI tools are driving trading narratives on the network. That pushed revenues and token issuances on the Solana token deployer Pump to record highs earlier this week.

Active addresses grew to 85,000, of which 37,000 were new wallets, indicative of strong demand. A Pump-connected fee account sold over $6 million worth of SOL late Monday, taking its lifetime sales to over $78 million or 500,000 SOL.

Over 40,000 new tokens were created on Solana in the past 24 hours, SolanaFloor data shows.

Institution Takes $25M Hedge Bet on Derive’s Bitcoin Options Market as U.S. Election Looms

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The strategy will profit most if BTC rises to $80,000 by the end of November.

As the U.S. election nears, increased betting and hedging tied to the political event, is powering notable increases in trading volumes in the crypto market. The election will have far-reaching consequences for the crypto regulatory space in the world’s largest economy.

Early this week, the decentralized derivatives exchange Derive saw an institution take a multi-legged bitcoin (BTC) options strategy, betting on a continued move higher in BTC after the Nov. 5 election. The trade generated a notional trading volume of $25 million, the largest ever onchain options transaction bet tied to the U.S. election, Derive told CoinDesk in an email.

The institution acquired 100 call option contracts with a $70,000 strike price set to expire on Nov. 29 while simultaneously writing or selling 200 contracts of the $80,000 call and 100 contracts of the $50,000 put, both expiring on Nov. 29. The institution deposited eBTC, restaked bitcoin created via EtherFi, as collateral, ensuring it earns passive yields on the same.

The strategy, which looks like a ratio call spread funded by a short put position, will profit most if bitcoin rallies to $80,000 by Nov. 29. The positioning is consistent with options flows on centralized exchanges, which indicate expectations for a post-election rally to $80,000 and higher.

“This $25 million options trade marks a watershed moment for onchain options trading, and it’s one that could have significant implications post-election. The institution has strategically positioned a unique structure with sold puts, bought calls, and eBTC collateral, potentially standing to make $1,020,000 on the structure if BTC hits $80,000 by November 29 – excluding any gains from the eBTC collateral,” Nick Forster, co-founder of Derive told CoinDesk in an email.

“The trade is a prime example of how onchain options offer scalable, non-correlated yield for any onchain asset,” Forster added.

Derive is the largest onchain options platform, accounting for 32% of the total DEX options volume of $339 million in the past 24 hours, according to DeFiLlama. The onchain market, however, is still relatively small compared to Deribit and other centralized platforms, which boast a cumulative 24-hour volume of several billion dollars.

2,300 Cruise Passengers Arrive in Nha Trang

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Khanh Hoa welcomed its first cruise ship visitors after Nha Trang Port temporarily closed. The ship carried 2,300 passengers from various countries to explore the coastal city for a day.

Coral Princess cruise ship docked at Cam Ranh International Port on the morning of October 23. Photo: Nha Trang Tourism Information Center.

On the morning of October 23, the Coral Princess cruise ship (registered in Bermuda) docked at Cam Ranh International Port, bringing 2,300 passengers from different countries to visit Nha Trang between 7 AM and 5 PM.

This was the first cruise ship to bring international tourists to Khanh Hoa Province after Nha Trang Port discontinued operations for repairs on September 20.

Nguyen Thi Le Thanh, Director of the Khanh Hoa Department of Tourism, along with representatives from Tan Hong Company, welcomed the ship at the port, presented flowers to the crew, and greeted the first passengers as they disembarked, taking commemorative photos.

According to the Nha Trang Tourism Promotion Center, after docking at Cam Ranh International Port, the tourists will be taken on city tours organized by Tan Hong Company, which offers a variety of itineraries around Nha Trang for visitors to choose from. These include stops at iconic locations such as Tran Phu Bridge, Ponagar Tower, Hon Chong, Dam Market, Long Son Pagoda, Stone Church, Truong Son Craft Village, and 2/4 Square.

After leaving Cam Ranh port, the group will be transferred to Nha Trang city to visit the attractions according to the schedule. Photo: Nha Trang Tourism Information Center.

Tourists will also have the option to explore several places by cyclo. Additionally, the company provides shuttle services from the port to a resort in Cam Ranh using 12-45 seat vehicles. Visitors can also explore other landmarks on their own via the Shuttle Bus service.

The ship was scheduled to depart in the afternoon, heading to Hong Kong (China).

Earlier, in early October, some agents and businesses providing services for cruise passengers had to cancel bookings and suspend luxury cruise arrivals due to Nha Trang Port being unfit for international ships, as it closed for repairs on September 20.

Khanh Hoa’s tourism leadership and various agencies held an emergency meeting to find suitable solutions to reconnect Nha Trang with international cruise visitors. Ana Marina Yacht Port was selected as a temporary replacement for Nha Trang Port during the maintenance period. However, this solution has not been implemented immediately due to some remaining legal procedures.

As of now, Khanh Hoa has welcomed 27 international cruise ships with 55,516 passengers coming ashore to explore. The Khanh Hoa Department of Tourism sees this as a positive sign for the recovery and growth of Vietnam’s cruise tourism, particularly in Khanh Hoa, contributing to the success of the province’s tourism sector.

@Znews

Resumption of Can Tho – Phu Quoc and Can Tho – Da Lat Flights

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After a long period of suspension, the Can Tho – Phu Quoc and Can Tho – Da Lat flight routes are now ready to resume service for passengers.

On October 23, the Southern Airports Authority in Can Tho announced that the Can Tho – Phu Quoc route will officially resume operations on October 28, 2024. This route will be operated by the national carrier, Vietnam Airlines, using ATR 72 aircraft, with a capacity of approximately 72 passengers.

The Can Tho – Phu Quoc route will operate five flights per week, on Mondays, Tuesdays, Wednesdays, Thursdays, and Saturdays. The Can Tho – Phu Quoc flight will depart at 10:40 AM, and the Phu Quoc – Can Tho return flight will depart at 12:15 PM.

Can Tho – Phu Quoc and Can Tho – Da Lat flights are ready to reopen to serve passengers.

Additionally, according to the Southern Airports Authority in Can Tho, the Can Tho – Da Lat route will reopen in November 2024, operated by Vietjet Air. There will be two flights per week, on Mondays, Wednesdays, and Fridays.

The first flight from Lien Khuong Airport (Da Lat City, Lam Dong) to Can Tho Airport is scheduled to depart at 11:30 AM on November 11, 2024. On the same day, the flight from Can Tho to Da Lat will depart at 2:15 PM.

Ms. Le Dinh Minh Thy, Director of Vietravel’s Can Tho branch, mentioned that Can Tho has recently maintained regular flights to Hanoi and Da Nang. The company has designed travel tours connecting the northern and central regions, along with visits to nearby provinces and cities. With the reopening of the Can Tho – Phu Quoc and Can Tho – Da Lat flights, travel companies will create additional tour products connecting these destinations, offering customers more exciting new travel options.

The reopening of the Can Tho – Phu Quoc and Can Tho – Da Lat flight routes at this time meets the needs of many customers for business and leisure travel during the year-end period. Mr. Tran Hai Dang (31 years old, acting in Ninh Kieu District, Can Tho City) shared, “Recently, my wife, our one-year-old child, and I traveled to Da Lat by bus, but it was quite inconvenient. When we arrived, our child was too tired to visit many attractions. Hearing that the Can Tho – Da Lat flight is resuming, we are very happy. Although we don’t yet know the ticket prices, we’re excited to have more travel options for our next vacation.”

@Thanhnien.vn

Launching a Tea-Tasting Tour in Da Nang

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After billionaire Bill Gates made a stop there, Ban Co Peak has become a popular attraction for both domestic and international tourists.

According to the Da Nang Department of Tourism, alongside new offerings such as the Danang food tour, water entertainment activities, and the International Lion Dance Festival, the city plans to introduce a tea-tasting tour at Ban Co Peak (Son Tra Peninsula, Son Tra District) in 2025. This is the location where Bill Gates visited and enjoyed tea in the late earlier afternoon in March this year.

Speaking to reporters, the Management Board of Son Tra Peninsula and Da Nang Tourist Beaches (the Board) shared that after the visit of American billionaire Bill Gates, Ban Co Peak gained even more popularity, drawing a large number of visitors both locally and internationally. Bill Gates’ tea-tasting experience has sparked curiosity and a desire to experience the same among tourists, which prompted the Board to propose a tea-tasting tour to the Department of Tourism.

Ban Co Peak on Son Tra Peninsula is crowded with tourists after billionaire Bill Gates came to enjoy tea. Photo: Thanh Hien.

The tea-tasting tour will be organized at Ban Co Peak, with specific time slots designed for an intimate tea experience with fewer people, ensuring it doesn’t affect other visitors. This tour is aimed at high-quality tourists who are passionate about unique experiences, cultural exploration, and tea ceremonies.

The Board has already outlined a plan and is awaiting feedback from the Department of Tourism and other governmental authorities to finalize the details. “Once complete, we will release the tour schedule, the number of guests allowed, costs, and other specifics,” a representative from the Board shared.

According to the Da Nang Department of Tourism, this will be one of the city’s breakthrough products for next year, targeting high-end tourists who are interested in cultural experiences, which aligns with the city’s tourism strategy.

Son Tra Peninsula is Da Nang’s green lung, and Ban Co Peak, standing 700 meters above sea level, is considered the roof of the city. From the peak, visitors can enjoy a panoramic view of Da Nang and the vast ocean. At the top, there is a statue of a celestial figure sitting in contemplation in front of a chessboard.

Standing from the top of Ban Co, you can see the whole city below. Photo: Thanh Hien.

In March this year, billionaire Bill Gates visited Da Nang. After choosing to stay at a hotel on the peninsula, he and his girlfriend traveled to Ban Co Peak to enjoy the scenery and sip tea from the afternoon until evening.

@Znews

Vietnam Becomes China’s Largest Banana Supplier

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According to Chinese Customs, Vietnam exported 460,000 tons of bananas to China in the first eight months of 2024, valued at nearly $190 million. The shift in market dominance is attributed to unfavorable weather conditions in the Philippines, which led to reduced banana yields and higher prices. Although Philippine bananas remain popular in China for their taste, supply shortages and rising costs have impacted their availability.

Data from Chinese Customs also revealed that China imported approximately 1.13 million tons of bananas, worth $592.1 million, in the first eight months of 2024. This represents a 7.9% decrease in volume and a 23% decline in value compared to the same period last year. The average price of bananas imported to China dropped by 16.3%, with the exception of bananas from Mexico, which saw price stability.

MakerDAO Contemplates Dropping Sky Brand as Community Debates

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SKY has significantly underperformed the CoinDesk 20 index, since the re-brand.

MakerDAO is contemplating dropping the Sky brand after a lukewarm reception to the re-brand and a successful launch of the USDS stablecoin.

The USDS stablecoin, launched in August, is designed to offer native token rewards and operate alongside the existing DAI synthetic stablecoin, which remains unchanged. On-chain data shows it has a supply of $1.2 billion and offers a savings rate of 6.5%, with a general agreement amongst community members that the launch was successful.

“It is also now more clear than ever just how much the DeFi community loves and trusts the Maker brand,” Sky co-founder Rune Christensen wrote on its governance forum. “There was a lot of affinity for the brand and what it stands for: stability, security, and DeFi scale. And there is a lot of commitment to holding the MKR token versus upgrading to SKY.”

Christensen wrote that three proposals are being considered to address community concerns: continue with Sky as the core brand to build on its recent momentum, recenter the Maker brand with its original identity and reinstate MKR as the sole governance token, or bring Maker back with a refreshed brand that aligns with the current ecosystem while maintaining its established trust and stability.

Several contributors have pointed out that the introduction of the SKY token, which replaced MKR as the core governance token under the Sky ecosystem, has not delivered the anticipated growth.

In the last two weeks, SKY is down 23% while the CoinDesk 20, an index fund that measures the performance of the largest digital assets, is up 10%. MKR, the governance token, is down 24% on-year according to CoinDesk data.

The controversial “freeze function,” introduced to ensure regulatory compliance, has also been criticized for its lack of clear utility and potential long-term risks.

With 13.79 million DAI and 9,535 MKR (approximately $25 million in total) spent on the rebrand, Christensen said MakerDAO will host a community call to gather feedback about the re-brand, then the platform will conduct a formal governance poll on November 4 to determine its next steps.

Bitcoin Is Going to $80K Regardless of Trump or Harris Win, Traders Say

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There are skewed expectations of a Republican win as better for bitcoin. However, some say the asset is poised to go higher either way as several macroeconomic factors weigh in.

Bitcoin (BTC) may cross previous highs in the coming weeks regardless of which candidate becomes the U.S. president, some traders say, in a shift of tone ahead of the November elections.

Traders have long perceived Republican Donald Trump’s victory as a bullish catalyst for the industry for his pro-crypto stance and promises to make the U.S. a bitcoin powerhouse. Democrat Kamala Harris, on the other hand, has not made similar promises but said he would introduce regulations to protect certain groups.

Such stances have skewed expectations of a Republican win as better for bitcoin. However, some say the asset is poised to go higher either way as several macroeconomic factors weigh in.

“Both Presidential candidates have adopted pro-crypto stances to appeal to voters, but it’s tough to say if any of their promises will come to pass,” Jeff Mei, chief operating officer at crypto exchange BTSE, told CoinDesk in a Telegram message. “However, It is clear that the market is responding positively to the upcoming change in administration and policies – whether it’s Harris or Trump, traders and investors think any sort of change will be good.”

“The fact that this coincides with the first Fed rate cuts in four years and a recent run-up in stock prices only adds to the thesis that Bitcoin could surpass its all-time high and reach $80,000,” Mei added.

Options traders are already increasing bets that bitcoin will touch fresh highs by the end of November, per Bloomberg. The implied volatility for bitcoin options due around election day is elevated.

The open interest for call options expiring on November 29 shows a significant concentration at the $80,000 strike price, followed by a notable interest at the $70,000 level. For call options with expiration on December 27, the open interest is primarily grouped around the $100,000 and $80,000 strike prices.

Options due to expire on November 8 have their highest open interest at the $75,000 strike price, indicating a key market focus area for that period.

However, some are terming the price behavior as an election hedge rather than a bullish outlook.

“I wouldn’t say that people buying 80K calls on BTC to be a bet on higher prices, but is more like a cheap option (implied vol really hasn’t gone up that much) against a broader market rally,” Augustine Fan, head of insights at SOFA, told CoinDesk in a Telegram message.

“BTC vol skews heavily in favor of higher prices post election, but that has been the case for quite a few weeks now as an election ‘hedge,” Fan added.

BTC is down 0.7% over the past 24 hours, CoinGecko data shows, outperforming a 1.6% drop in the broad-based CoinDesk 20 (CD20).

Vietnam and EU Strengthen Partnership, Push for Enhanced Cooperation in Key Areas

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Deputy Minister of Foreign Affairs Le Thi Thu Hang and Niclas Kvarnström, Director General for Asia and the Pacific at the European External Action Service (EEAS), co-chaired the fifth Vietnam-EU Joint Committee meeting in Hanoi on Tuesday.

During a meeting held under the framework of the EU-Vietnam Partnership and Cooperation Agreement (PCA), Hang emphasized the EU’s position as one of Vietnam’s most critical economic and development partners. She reaffirmed that Vietnam highly values its comprehensive partnership and cooperation with the EU, as well as its relations with individual EU member states.

Hang called on the EU to encourage the parliaments of certain member states to expedite the ratification of the EU-Vietnam Investment Protection Agreement (EVIPA). She also acknowledged Vietnam’s efforts in combating illegal, unreported, and unregulated (IUU) fishing, urging the EU to recognize these efforts and move toward lifting the yellow card warning on Vietnam’s seafood exports.

The EU side praised Vietnam’s growing significance in the region and at multilateral forums, affirming that Vietnam remains a priority partner for the EU in the Asia-Pacific. The EU expressed its desire to elevate the bilateral relationship, pledging continued support for Vietnam in implementing the Just Energy Transition Partnership (JETP). It also highlighted opportunities for enhanced cooperation in emerging fields such as clean technology, digital transformation, high technology (including semiconductors and artificial intelligence), raw materials, and innovation, within the framework of initiatives like the EU’s Global Gateway Initiative.

Both parties agreed to step up delegation exchanges, especially high-level visits, in celebration of the 35th anniversary of their diplomatic ties in 2025. They also committed to expanding cooperation in defense and security, agriculture, the environment, and other new areas of collaboration. Furthermore, both sides reaffirmed their commitment to resolve regulatory issues and fully implement the EU-Vietnam Free Trade Agreement (EVFTA).

On the East Sea issue, both parties expressed concern over recent developments. They emphasized the importance of maintaining peace, stability, security, and freedom of navigation and overflight in the region. Both sides called for all parties to adhere to international law, including the 1982 United Nations Convention on the Law of the Sea (UNCLOS), and expressed support for the early conclusion of an effective and substantive Code of Conduct in the East Sea (COC).

Independence Palace Welcomes Over a Million Visitors Annually

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The Independence Palace historical site (also known as Reunification Hall) has become an essential stop for visitors to Ho Chi Minh City, attracting more than 1 million visitors each year.

The Independence Palace welcomes 1 million visitors each year. Photo: N.K.

This information was shared by Mr. Tran Huu Phuoc, Acting Director of Reunification Hall, during the tourism promotion forum titled “Converging Identity, Elevating Heritage,” held on October 19, according to baochinhphu.vn.

According to Mr. Phuoc, one of the most attractive tourist products is the exhibition “From Norodom Palace to Independence Palace 1868 – 1966.” Since it opened to the public in March 2018, this exhibition has welcomed nearly 350,000 visitors annually, offering them a unique experience.

In the future, Reunification Hall plans to digitize the exhibition space and artifacts, incorporating technology into displays and information dissemination. This will provide the public with new historical stories and immersive experiences, making the Independence Palace more accessible and appealing to younger generations.

In addition to Independence Palace, the Cultural and Scientific Activities Center of the Temple of Literature – Quoc Tu Giam has also successfully organized the “Night Tour at the Temple of Literature – Quoc Tu Giam,” highlighting the excellence of Vietnam’s traditions of learning, respect for teachers, and recognition of talent. A unique aspect of this tour is that visitors experience the Temple of Literature – Quoc Tu Giam through activities that utilize 3D Mapping technology.

According to Dr. Duong Duc Minh, Deputy Director of the Institute for Economic and Tourism Development Research, it is necessary to apply technology and creativity to tap into existing resources, restructure products for destinations, enhance heritage, and create added value for the tourism industry and the economy.

At the forum, Reunification Hall and the Cultural and Scientific Activities Center of the Temple of Literature – Quoc Tu Giam signed a memorandum of cooperation. This partnership aims to bring greater recognition to these two national heritage sites.

@SGtiepthi

Mang Den Tourism Area to Expand Over 90,000 Hectares

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By 2045, the Mang Den tourism area in Kon Tum will cover more than 90,000 hectares, positioning itself as a national-level destination and a prominent, branded attraction in the Central Highlands.

Recently, the Kon Tum Provincial People’s Committee announced the master plan for the development of the Mang Den tourism area in Kon Plong District, Kon Tum, up to 2045.

Mang Den is immersed in the morning mist, bringing both peaceful and poetic beauty.

Located at an altitude of over 1,200 meters above sea level, Mang Den is a town in Kon Plong District with an average temperature ranging from 16 to 20 degrees Celsius. The terrain consists mainly of hills and mountains, with forest coverage reaching 82%. This area is home to many natural scenic spots, lakes, waterfalls, rocky streams, and pristine indigenous cultures. Not only does it offer a cool and pleasant climate, but Mang Den also boasts a breathtaking natural landscape with majestic and mysterious beauty, ready for tourists to explore.

To develop Mang Den into an attractive destination in the Central Highlands and a driver of socio-economic growth for Kon Tum, the Prime Minister has approved the master plan for the construction of the Mang Den tourism area.

According to the plan, the Mang Den tourism area will span over 90,000 hectares and be part of the national tourism development plan, focusing on economic activities, tourism, and leveraging unique advantages in climate, natural landscapes, and traditional culture.

The night market area located in Mang Den pine forest attracts tourists to visit and experience.

The Mang Den tourism area will be designed based on a model consisting of two development corridors, three tourism centers, and four urban areas. Mang Den Town will serve as the central urban hub of the district, operating as the administrative, political, socio-economic, and commercial service center of Kon Plong District.

Additionally, Mang Den will play an essential role in driving socio-economic development, especially in tourism, commerce, and services for Kon Tum Province, the Central Highlands region, and the country.

Mr. Pham Van Thang, Vice Chairman of the Kon Plong District People’s Committee, shared that Mang Den and Kon Plong District, in general, are blessed by nature with excellent climate and soil conditions, ideal for developing ecology and resort tourism. To promote sustainable tourism development, the district has been actively promoting tourism linked with the traditional culture of the local ethnic areas. The combination of traditional culture and experiential tourism has been highly appreciated by visitors.

“Recently, the district has organized attractive such as sim flower, mua flower, and multicolored flower viewing, combined with visits to high-tech agricultural areas; culinary tours to explore Mang Den’s local cuisine and ethnic minority culture; tours to discover and experience the planting and harvesting of dong sam (a local herb); and weekend gala programs with cultural performances every Saturday and Sunday,” Mr. Ladder added.

A section of Mang Den town at night

Ms. Bach Thi Man, Deputy Director of the Department of Culture, Sports, and Tourism of Kon Tum Province, stated that the development plan will contribute to elevating the Mang Den tourism area to national prominence, becoming a highly attractive, branded destination in the Central Highlands, both domestically and internationally. In the future, Mang Den will focus on developing various tourism models such as resort tourism, ecological tourism, cultural tourism, and tours to explore cultural and historical relics.

@Thanhnien.vn

Quang Ninh Welcomes Its 3 Millionth International Visitor of 2024

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On October 21, at the Ha Long International Cruise Port, Quang Ninh Province held a ceremony to welcome its 3 millionth international tourist of 2024. This marks the highest number of international visitors to Quang Ninh since 2020.

At 8:00 AM on October 21, the international cruise ship Viking Orion docked in Quang Ninh, arriving from Hong Kong (China), carrying the 3 millionth international visitors of 2024 to the province. The two milestone visitors were David and Tina (U.S. nationals). The couple expressed their surprise at the warm welcome from Quang Ninh Province and said it was an unforgettable memory of their trip to Vietnam.

Mr. and Mrs. David and Tina (right cover) are present at Ha Long International Passenger Port, Quang Ninh Province. Photo: Quang Ninh Department of Tourism Electronic Information Portal

According to a representative from the Quang Ninh Department of Tourism, welcoming the 3 millionth international visitors is significant for the province’s tourism sector. It marks an important milestone, demonstrating that the province has successfully overcome the challenges posed by Typhoon Yagi (Storm No. 3) and is fully prepared to welcome tourists back with top-quality services.

As part of the itinerary, passengers aboard the Viking Orion will visit Ha Long Bay, the Quang Ninh Museum, and several other local attractions from October 21 to 22.

From now until the end of 2024, nearly 20 cruise ships are expected to arrive in Ha Long, including the Costa Serena (carrying 3,500 guests from Hong Kong, China), the Celebrity Solstice (with 2,800 guests from Europe and the U.S.), and the Mein Schiff 6 (with 2,500 guests from Germany and other European markets).

For the 2024-2025 cruise season, over 60 cruise ships are scheduled to dock in Ha Long, bringing approximately 100,000 visitors. This includes luxury cruise lines such as Viking Orion, Costa, Seven Seas, Noordam, Celebrity Solstice, Le Lapérouse, Seabourn, and Mein Schiff.

The figure of 3 million international visitors is the highest since 2020. In 2020, Quang Ninh welcomed 540,000 international visitors, followed by 50,000 in 2021, 304,000 in 2022, and 2.15 million in 2023.

In the first nine months of 2024, Quang Ninh received a total of 15.64 million visitors, including 2.59 million international tourists. The province aims to meet its 2024 target of welcoming 19 million visitors, with over 3.5 million of them being international tourists.

@SGtiephi

Ha Giang to Hold Buckwheat Flower Festival in November

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The annual Ha Giang Buckwheat Flower Festival is a celebrated event held each late autumn and early winter, when the buckwheat flowers bloom across the Dong Van Karst Plateau. This year, the festival will officially open on November 9, 2024, at the Thanh Nien Square in Dong Van District.

The 10th Buckwheat Flower Festival in 2024 will open on November 9, 2024, at the Youth Square of Dong Van District, Ha Giang Province. Photo: Dang Huy

Taking place from November 9 to 21, the 2024 Buckwheat Flower Festival will feature various activities such as competitions applauding and introducing the traditional costumes of ethnic groups in Dong Van. Other activities include demonstrations and hands-on experiences of traditional flax weaving, hand embroidery, crafting of household items and traditional musical instruments, and exhibitions of local cultural products, tourism offerings, agricultural products, cuisine, and medicinal herbs.

In addition, cultural exchange activities, traditional music and art performances, and folk games will be organized for visitors at tourist stops and cultural villages throughout Dong Van District on Saturdays and Sundays. During the festival, Dong Van District will also inaugurate new tourism landmarks.

Buckwheat flowers on the Dong Van stone plateau. Photo: Nguyen Phong

Recently, Ha Giang, along with other northern provinces, has been severely impacted by heavy rain and flooding, resulting in the cancellation of several cultural and tourism events, as well as many tourists canceling their travel plans.

To attract visitors during the peak season and support local restaurants, hotels, and tour operators after a difficult period, the Provincial Tourism Association has called on its members and tourism businesses to participate in a stimulus program offering discounts of 10-30%. The program began in mid-September 2024 and will run through the peak tourist season, ending in early February 2025.

Since the beginning of the year, Ha Giang has welcomed approximately 2.47 million visitors, achieving 77% of the 2024 target, with total tourism revenue estimated at VND 6,120 billion. However, in September 2024, the number of tourists dropped to 243,000, a 5.4% decrease compared to the same period last year.

@SGtiepthi

Ho Chi Minh City to Open “Cho Lon Night Street”

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The project for Cho Lon Night Street, aimed at boosting tourism in District 6, has been approved for a pilot implementation by the People’s Committee of Ho Chi Minh City.

Binh Tay Market – the highlight of Cho Lon Night Street. Photo: Lac Ha

The project, centered around Binh Tay Market—which has been recognized as an architectural and artistic heritage site by the People’s Committee—was proposed by the Ho Chi Minh City Department of Industry and Trade.

Cho Lon Night Street will integrate the cultural and social values ​​of the Cho Lon area with nearby tourist attractions in Districts 5, 8, and 11 (including Ha Ton Quyen Dumpling Street, Hai Thuong Lan Ong Street, and Chau Van Liem Street), adding to the diversity of Ho Chi Minh City’s tourism offerings, according to the Ministry of Culture, Sports, and Tourism’s online portal.

Cho Lon Night Street is expected to operate daily from 6:00 PM to midnight, covering the sidewalk space of four streets: Nguyen Huu Than, Thap Muoi, Le Tan Ke, and Tran Binh (surrounding Binh Tay Market, from Nguyen Xuan Phung Street to Chu Van An Street).

The total area of ​​Cho Lon Night Street spans 1,510 square meters and will be divided into seven functional zones, featuring 41 stalls.

The night street’s functional zones will include a highlight called the “Creative Zone” with 14 food stalls fully equipped with counters, shelves, and cabinets. The “Saigon-Cho Lon Heritage Zone” will feature nine hand-pushed carts designed in the traditional style of old Cho Lon, while the “Dynamic Zone” will have 18 hand-pushed carts offering cultural products, souvenirs, technology, and youth- oriented fashion.

In addition to food and shopping stalls, the night street will also include public restrooms, artistic lighting, and scenic installations to create a community space. Street performances will further enrich the experience for visitors.

@SGtiepthi

Operation of the Ha Long – Cat Ba High-Speed Ferry

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The Ha Long (Quang Ninh) – Cat Ba (Hai Phong City) route began trial operations from the Ha Long International Cruise Port on October 18, with plans to officially commence services on November 15.

The Ha Long – Cat Ba high-speed ferry is expected to launch on November 15. Photo: Tuan Chau Express.

On the morning of October 18, the Tuan Chau Express, operated by Havaco Investment Corporation, conducted a trial run of the high-speed ferry connecting Ha Long and Cat Ba at the Ha Long International Cruise Port. This trial run is in preparation for the official inauguration event on November 15.

According to the operator, the travel time between the two points is approximately one hour.

The ferry will depart daily at 7:30 AM from Tuan Chau International Cruise Port (Ha Long) and arrive at Dong Ho Bay, located in the center of Cat Ba Town (Hai Phong City), at 8:30 AM. After that, the ferry will continue to Dong Bai Port and return to Dong Ho Bay. The return trip back to Ha Long International Cruise Port will depart at 3:00 PM on the same day.

The ticket price for this journey is set at 250,000 VND per person per trip.

Inside the high-speed boat route connecting Ha Long Bay – Cat Ba heritage. Photo: Tuan Chau Express.

This high-speed, twin-hull ferry operates at a maximum speed of 28 knots, equipped with noise reduction and anti-seasickness features. It can function in adverse weather conditions, including winds of up to level 7, and has a capacity of up to 300 passengers.

According to the Quang Ninh Provincial People’s Committee, this ferry service is the first modern high-speed sea passenger transportation route to be operated, connecting the Ha Long Bay – Cat Ba Archipelago heritage region.

Additionally, the Ha Long – Cat Ba high-speed ferry provides both residents and tourists with an enhanced travel experience, strengthening the connection between the Ha Long Bay – Cat Ba Archipelago area. It also helps alleviate the pressure and congestion on ferry services during busy weekends.

@Znews

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