![]() With a certain irony, some DeFi experts are already guessing about the ways projects would be ready to "reinvent" their coins as "Chinese": Chinese Ponzi stays in top of Polygon (MATIC) gas consumersĪt this phase, the "China Coins" narrative looks highly speculative. "Chinese Polygon" CoinFlux (CFX) rallied by 140% in a few days, while OKB jumped to a new all-time high following the OKBChain launch announcement. It should be noted that the first pumps of this euphoria have already happened. Also, the core utility cryptocurrencies of Asia-focused centralized exchanges - Huobi Token (HT), KuCoin Token (KCS), Gate Token (GT) and OKX Token (OKB) are in focus today. Mechanism Capital's Andrew Kang indicated some tokens that might fit into this narrative. ![]() $ETH (Vitalik has had multiple Chinese GFs) $BNB (People always mistake CZ for Chinese Citizen) $KLAY (actually Korean, but it might get confused) However, people do not want to miss the mini-rally and are actively seeking opportunities to benefit from it.Ĭhina Coin Narrative is here. ![]() Also, the very concept of "Chinese" coin looks too vague. However, both catalysts should not be overestimated: the actual size of "money printing" is yet to be seen, while the Hong Kong licensing will not affect retail buyers directly. Also, the announcement of the licensing regime for Virtual Asset Service Providers (VASP) in Hong Kong (that might be activated as soon as June 1, 2023) attracted public interest to "Chinese Cryptos." It was noticed that massive liquidity injections by People's Bank of China (PBoC) coincided with the upsurge in crypto markets capitalization. Oh, sorry US inflation, China exporting moar /LMmNLP1xHQ Look at the liquidity injections China is ramping up in Feb - most recent 835B CNY via reverse repurchase The China easing narrative is not some imaginary garbage Mostly, it is attributed to the regulatory easements in Hong Kong and the prospects of "quantitative easing" in China. In recent days, more and more experts on Crypto Twitter are forecasting a "Chinese Coins Pump" to be incoming. Should we now brace ourselves for the fourth "narrative" in three months? Two main catalysts of upcoming "Chinese Coins" euphoria ![]() By using the NGC Guides, the user agrees that neither NGC nor any of its affiliates, shareholders, officers, employees or agents shall have any liability for any loss or damage of any kind, including without limitation any loss arising from reliance on the information contained in the Guides.Despite the ongoing bullish upsurge still being in its nascent phase, the crypto segment has already gone through AI-, LSD- and ZK-centric manias. As such, NGC disclaims all warranties, express or implied, with respect to the information contained in the NGC Guides. These prices are not intended, and should not be relied upon, to replace the due diligence and - when appropriate - expert consultation that coin buyers and sellers should undertake when entering into a coin transaction. For all of these reasons, the prices in these guides are designed to serve merely as one of many measures and factors that coin buyers and sellers can use in determining coin values. ![]() This is especially true for rare coins, where there are fewer sales and greater variations in sale prices. Further, because these prices are only updated from time to time, they do not reflect short term pricing trends, which are quite common and are often quite dramatic, given the volatile nature of the collectible coin marketplace. Prices provided are averages, not specific prices for individual coins. Disclaimer: The prices listed in the various NGC Price and Value Guides are compiled from a number of independent, third party sources in the numismatic community which NGC believes to be reliable. ![]()
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