Top China Coins Ready To Skyrocket

On February 20, Hong Kong’s Securities and Futures Commission (SFC) proposed a licensing regime for cryptocurrency exchanges. Soon, it will allow retail players to trade big cryptocurrencies like Bitcoin and Ethereum ahead of this year. This article features the top China-based Coins and the reason why they will skyrocket in the near future.

Hong Kong’s Green Signal to Crypto Trading

As per the announcement, all centralized cryptocurrency trading platforms operating in Hong Kong must be licensed with the regulatory body. Guess what? It turns out the US isn’t the only global financial superpower that is capable of shaking down the markets.

As reported earlier, China’s central bank, the PBoC injected $92bn USD into the market on Friday, which outplaces the US Fed’s current quantitative easing efforts.

China Coins Read to Skyrocket

This move from Hong Kong to legalize crypto has given wings to many China-based coins. From Filecoin and Polkadot to Conflux and VeChain, all these coins are witnessing a massive price surge within a week. Let’s dig into the details of these China-based coins and their performance so far.

Filecoin (FIL): Bitcoin of China

Filecoin is a public cryptocurrency and decentralized storage system that aims to “store humanity’s most important information.” FIL turned in one of the largest price increases in the past seven amid the upcoming release of the Filecoin Virtual Machine (FVM).

At the time of writing, the price of Filecoin was trading at around $8.47, with a 24-hour trading volume of $1,177,434,248 (up by 55.65%). Remaining strong at the 22nd position, FIL has achieved a surge of 66.42% within a week.

Conflux (CFX): Ethereum Of China

China’s only public blockchain, Conflux’s native cryptocurrency CFX has seen a significant surge in value, increasing over 366.10% in the past seven days, according to CoinMarketCap. Created in 2018 by a renowned Chinese computer scientist, Dr. Andrew Chi-Chih Yao, Conflux is a layer-1, permissionless blockchain that operates out of China.

Conflux’s price at the time of writing is $0.2848, with a market capitalization of $594,740,080 and a 24-hour trading volume down by 48.91%. Now it stands at $411,808,266. At the same time, the circulating supply is approximately 2,090,735,404 CFX as per the crypto market tracker CoinMarketCap.

Read More: Ethereum (ETH) Price Poised For 20% Jump Ahead Of U.S. FOMC Minutes Release?

EOS (EOS) – One Of The Best Smart Contract Platforms

The EOS coin is the native token of the EOSIO network, an open-source blockchain platform that prioritizes high performance, flexibility, security, and developer experience. It is a Delegated Proof of Stake (DPoS) network that has an extensible WebAssembly engine for deterministic execution of near fee-less transactions.

The EOS Network is attractive and straightforward that helps users acclimate to the blockchain. The price of EOS is currently trading at $1.20 with a 24-hour trading volume of $185,273,431. It has surged by nearly 14.66% during the last seven days.

Polkadot (DOT) – Loved By Chinese

Polkadot (DOT) has outstripped top crypto assets over the past week as the digital asset market continues its attempted recovery. DOT is the governance token of the Polkadot network, a leading technology that enables several blockchain networks to exchange data and assets in real time. It also boosts efficiency and reduces barriers to entry for new users and developers.

At the time of writing, Polkadot’s price at the time of writing is $7.10 with a one-day trading volume of $394,686,273. It has increased by nearly 14.81% in a week. With a market capitalization of $8,270,571,159, the circulating supply of Polkadot is approximately 1,159,443,447 DOT as per the crypto market tracker CoinMarketCap.

VeChain (VET) – Chain’s Supply Chain Blockchain

Launched about seven years ago, VeChain has been expanding its ecosystem as new dApps and solutions arrive. It exists to disrupt traditional business models by providing a decentralized trust layer for multi-party ecosystems and has already seen major successes with high-profile clientele and government bodies.

VeChain price at the time of writing is $0.02905 (up by 22.85% in a week), with a market capitalization of $2,106,762,852. At the same time, the circulating supply is approximately 72,511,146,418 VET as per the crypto market tracker CoinMarketCap.

Also Read: What’s Making VeChain (VET) Price Skyrocket Over 12%?

Disclaimer: This is not investment advice. Please do your due diligence before investing in any asset.