24/7 Cryptocurrency News

Here’s Why Chinese Coins Could Be The Next Crypto Market Movers

Chinese Coins: Hong Kong's move to allow retail trade in Bitcoin and Ethereum is spurring demand for China linked cryptocurrencies.
Published by
Here’s Why Chinese Coins Could Be The Next Crypto Market Movers

Crypto Market News: Hong Kong’s move to allow retail trade in Bitcoin, Ethereum and other cryptocurrencies could go down as a historical masterstroke amid the hostile crypto market environment currently in the United States. Considering the geopolitical impact of Hong Kong and the ongoing enforcement actions against crypto businesses in the US, the timing also could not have been any better. The US financial markets are reeling with uncertainty around an impending regional banking crisis along with economic challenges like the debt ceiling concerns and rising inflation.

Also Read: Memecoins Prints Selective Growth as Crypto Market Recovers, Here are the High Fliers

Recently, Ripple joined the e-HKD Pilot Programme by the Hong Kong Monetary Authority’s (HKMA) while top crypto exchanges OKX and Huobi are in plans to apply for licenses to operate in Hong Kong. Meanwhile, the announcement to allow retail trade is spurring significant demand for Chinese coins like Conflux (CFX).

Advertisement

Demand Rises For Chinese Coins

Besides Conflux (CFX), other China coins Filecoin (FIL) and EOS have seen at least 7-8% weekly gains. With the Hong Kong retail crypto trade to begin from June 1, 2023, these coins are likely to gain even further. This trend comes at a time when Bitcoin price is witnessing a sideways movement and memecoins like PEPE Coin are seeing rise in demand.

Read More to know about Top China Coins to Invest in 2023

Also Read: Arthur Hayes Predicts Best Time To Sell Bitcoin

Advertisement

Share
Anvesh Reddy

Anvesh reports major crypto updates around U.S. regulation and market moving trends. Published over 1400 articles so far on crypto and blockchain. A proud dropout of University of Massachusetts, Lowell. Can be reached at anvesh@coingape.com or x.com/BitcoinReddy or linkedin.com/in/anveshreddybtc/

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • 24/7 Cryptocurrency News

Michael Saylor Says “No New Orange Dots” Pausing Bitcoin Buys as Holdings Hit Record $79B

Michael Saylor hinted that Strategy would not be making its routine Bitcoin purchase this week.…

October 5, 2025
  • 24/7 Cryptocurrency News

Experts Turn Bullish on Pudgy Penguins as PENGU Leads Meme Coin Buys on Solana

Crypto experts have begun to make bullish projections for Pudgy Penguins’ native token, PENGU. This…

October 5, 2025
  • 24/7 Cryptocurrency News

ASTER to Launch Phase 2 Airdrop on October 10 as Open Interest Tops $5B in Two Weeks

ASTER has announced that the roadmap for its second airdrop phase is set to begin…

October 5, 2025
  • 24/7 Cryptocurrency News

El Salvador’s Bitcoin Holdings Hit $475M Profit as BTC Becomes World’s 7th Largest Asset

El Salvador is now sitting on $482 million in unrealized gains in its Bitcoin holdings.…

October 5, 2025
  • Bitcoin News

Breaking: Bitcoin Hits New ATH Above $125k as ‘Uptober’ Kicks Off in Full Force

The Bitcoin price has hit a new all-time high, after staging a monstrous rally since…

October 5, 2025
  • Bitcoin News

99.3% of Bitcoin Supply in Profit, Analyst Warns of Short-Term Correction

Bitcoin (BTC) is in profit on almost all of its supply, leading to discussion by…

October 5, 2025