Join +750K new investors every month who copy stock picks from billionaire's portfoliosSign Up Free

China-based Businesses Show Signs of Reentry into the Crypto Market

Published 11/01/2023, 09:15
China-based Businesses Show Signs of Reentry into the Crypto Market
BTC/EUR
-
BTC/USD
-
CHNA
-
BTC/EUR
-
BTC/JPY
-
BTC/USD
-
BTC/JPY
-
BTC/GBP
-
BTC/GBP
-

  • Data analytic firm believes there are signs that China is returning to the crypto market.
  • CryptoQuant hinted at the growing BTC reserve of the Chinese Okx crypto exchange.
  • Last month, the first Chinese Bitcoin ETF raised nearly $79 million during its debut.

According to data analytic firm, CryptoQuant, there are signs that China is returning to the crypto market. CryptoQuant expressed this sentiment in its most recent weekly report on the digital asset market.

The analytic firm draws the conclusion of China’s return based on recent developments around some China-based businesses. It also hinted at the growing Bitcoin (BTC) and Ethereum (ETH) reserves of the Chinese Okx crypto exchange.

CryptoQuant noted that the growth rate was not only in the crypto spot market but also in Open Interest in China-based crypto exchanges.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.