The post China to Launch Bitcoin Reserve? These Altcoins Could Soar as The Nation Plans to Lift Crypto Ban appeared first on Coinpedia Fintech News
China is making moves that could impact the entire cryptocurrency market. There are reports suggesting that the country is considering launching a strategic Bitcoin reserve and may soon lift its crypto ban. This has created buzz, especially for altcoins tied to Chinese blockchain projects, as they stand to benefit from the country’s growing interest in digital assets. Hashkey CEO recently said, “I think there is the possibility the mainland China government will reconsider their stance towards the crypto and Web3 industry.”
China’s Shift Toward Crypto
China’s push into cryptocurrency seems driven by its desire to compete with the U.S. and strengthen its position globally. As more countries embrace digital currencies, China wants to lead the way in crypto and blockchain technology.
Experts believe that when China lifts its crypto ban, a significant amount of money will flow into Chinese tokens. Analyst Tracer explains, “In a positive scenario, their liquidity will first flow into China-related tokens,” potentially sparking a rally in altcoins connected to Chinese blockchain projects. This presents a great opportunity for investors to get ahead of the curve.
Top Chinese Altcoins to Watch
Aethir (ATH) – A project focused on building decentralized GPU computing infrastructure. With a market cap of $275.77M, it’s one to watch as liquidity pours into China-related tokens.
Zilliqa (ZIL) – A high-speed blockchain designed for scalability, Zilliqa is ready to take off when China’s crypto ban is lifted. It has a market cap of $257.15M and is set to benefit from increased demand.
Neo (NEO) – Known as the “Chinese Ethereum,” Neo is one of the country’s most established blockchains. With a market cap of $578.91M, Neo could see growth as China’s crypto industry expands.