Solana (SOL) held above $168 despite a 23% weekly drop; whale accumulation signals a possible rebound toward $220–$234. Dash (DASH) broke out of a bull flag during the crash; CMF above zero shows big-money buying with $66 as next target. SKALE (SKL) is up 18.5% in 24 hours; top 100 wallets added 6 million SKL…
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In Brief China explores stablecoin options with Hong Kong as a testing ground, eyeing blockchain infrastructure like Conflux and Chainmaker. Conflux, as a regulated public blockchain, is seen as the leading candidate for powering China’s stablecoin ambitions. Beijing’s concerns over capital outflows and dollar dominance are central to China’s cautious stablecoin strategy. China is closely…
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In Brief The US now controls 75.4% of global Bitcoin mining, overtaking China’s previous dominance. Despite a crypto ban, sources report that China still holds 15% of global Bitcoin hashrate, with its infrastructure intact. China may adjust its crypto policies, balancing de-dollarization efforts with its long-standing anti-crypto stance. A recent Cambridge report confirms that the…
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In Brief Bitcoin spiked above $97,000 following China’s $138 billion stimulus, then retreated to $96,000 amid Fed uncertainty. China’s interest rate cuts and liquidity measures spark risk-on sentiment, with trade talks fueling market optimism. The Fed’s $34.8 billion bond purchases raise concerns of a return to quantitative easing (QE), potentially boosting crypto. Bitcoin (BTC) jumped…
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In Brief A Beijing court sentenced former financial official Hao Gang to 11 years in prison for bribery and Bitcoin-related money laundering. Investigators found that Gang accepted millions in bribes to assist Bitcoin mining firms and help a senior executive evade travel restrictions. Despite these efforts, China’s approach to cryptocurrency regulation remains inconsistent, with conflicting…
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In Brief China maintains a strict ban on cryptocurrency trading since September 2021, yet interest in Bitcoin surges. Despite the ban, the underground crypto market in China shows resilience with significant transaction volumes. Hong Kong’s open approach to digital assets and the economic downturn push investors towards crypto. Recent developments have sparked discussions on whether…
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Briefly Hong Kong’s progress in developing a stablecoin regulatory framework suggests a shift in China’s crypto policy. Even Coinbase and other international cryptocurrency exchanges were invited to register in Hong Kong by a legislator. Central area China’s white paper on Web 3.0 development further recommends a likely lift of the Chinese prohibition on crypto. China…
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Briefly China’s history with cryptocurrencies is complex, characterized by frequent prohibitions and their effect on the cryptocurrency market. China’s hardline stance on cryptocurrencies may be changing, according to recent signs, drawing significant international attention. The Chinese ban on cryptocurrencies could be lifted, resulting in increased demand and prices for cryptocurrencies. China’s position on cryptocurrencies has…
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