🚀🇹🇷 DeFi and Web 3 fans! The OTC crypto market in Hong Kong has reached $64 billion in volume in the last year, approaching China's $86.4 billion. 😲
📉 Although transaction values in China and Hong Kong have fallen, the existence and stability of major OTC markets suggest that Beijing has a certain tolerance for cryptocurrencies. 🤔
🇨🇳🇭🇰 The increasingly close relationship between China and Hong Kong has some speculating that Hong Kong's growing status as a crypto hub may mean that the Chinese government may be pushing back on digital assets, or at least becoming more open to crypto startups. 🧐
🏦 Chainalysis notes that Hong Kong dominates large institutional crypto transactions relative to other Asian regions. According to the data, 46.8% of Hong Kong's annual crypto transactions were institutional transactions over $10 million, while retail transactions under $10,000 accounted for only 4%. 📊
🇰🇷 While South Korea is more inclined to conduct retail transactions on central exchanges, 🇯🇵 Japan uses DeFi protocols in a balanced manner with central exchanges. 💹
What do you think this rapprochement between China and Hong Kong means for cryptocurrencies? We are waiting your comments! 🗣️👇
📉 Although transaction values in China and Hong Kong have fallen, the existence and stability of major OTC markets suggest that Beijing has a certain tolerance for cryptocurrencies. 🤔
🇨🇳🇭🇰 The increasingly close relationship between China and Hong Kong has some speculating that Hong Kong's growing status as a crypto hub may mean that the Chinese government may be pushing back on digital assets, or at least becoming more open to crypto startups. 🧐
🏦 Chainalysis notes that Hong Kong dominates large institutional crypto transactions relative to other Asian regions. According to the data, 46.8% of Hong Kong's annual crypto transactions were institutional transactions over $10 million, while retail transactions under $10,000 accounted for only 4%. 📊
🇰🇷 While South Korea is more inclined to conduct retail transactions on central exchanges, 🇯🇵 Japan uses DeFi protocols in a balanced manner with central exchanges. 💹
What do you think this rapprochement between China and Hong Kong means for cryptocurrencies? We are waiting your comments! 🗣️👇