🚀 Hong Kong's active over-the-counter (OTC) crypto market achieved $64 billion in volume compared to China's $86.4 billion last year, despite the decline in global crypto markets. Chainalysis noted that the existence and stability of major OTC markets suggest that Beijing has shown a certain tolerance for cryptocurrencies.
🇨🇳 The increasingly close relationship between China and Hong Kong has some suggesting that Hong Kong's growing status as a cryptocurrency hub signals that the Chinese government is stepping back on digital assets, or at least becoming more open to crypto startups.
🏦 Chainalysis noted 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 exceeding $10 million, while retail transactions accounted for only 4% under $10,000.
🇰🇷 South Korea, on the other hand, focuses on retail trading on central exchanges, and "professional" traders with a transaction volume between 10,000 and 1 million dollars make up 40% of the volume.
🇯🇵 Japan's transaction distribution aligns closely with global trends by balancing centralized exchanges with DeFi protocols.
🗣️ Do you think China is changing its attitude towards cryptocurrencies? We are waiting your comments!
🇨🇳 The increasingly close relationship between China and Hong Kong has some suggesting that Hong Kong's growing status as a cryptocurrency hub signals that the Chinese government is stepping back on digital assets, or at least becoming more open to crypto startups.
🏦 Chainalysis noted 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 exceeding $10 million, while retail transactions accounted for only 4% under $10,000.
🇰🇷 South Korea, on the other hand, focuses on retail trading on central exchanges, and "professional" traders with a transaction volume between 10,000 and 1 million dollars make up 40% of the volume.
🇯🇵 Japan's transaction distribution aligns closely with global trends by balancing centralized exchanges with DeFi protocols.
🗣️ Do you think China is changing its attitude towards cryptocurrencies? We are waiting your comments!