The big news came this week on April 16, when a major power outage in Xinjiang damaged the speed of BTC’s fragmentation. According to local sources, Ant Mine Pool retail prices decreased 21.93%, BTC.com prices decreased 18.5%, Binance Mine Pool decreased 22%, and Huobi Mine Pool decreased 25.5%. Cointelegraph reported that this is due to security checks as a result of a mine accident in the far west county. Western China has a strong position in the mining industry thanks to its cheap electricity and affordable properties. Despite the fact that miners initially stated that the effect would only last from one to two days, the frequency of hemp has not yet recovered. The global speed is currently below 145 million TH / S, up from the peak of 172 million TH / S the day before the accident.

Dogemania
The Dogecoin craze started as buyers on OKEx and Huobi helped drive the price up 370% in one week. The two Chinese stock exchanges accounted for mostly 16.9% and 15.9% of global volumes, respectively, while Binance accounted for only 5.2%. Chinese buyers tend to view all assets through a potential investment target, in stark contrast to Western investors who have been more likely to create performance notes on social media.

Air Combat brand
The dog craze didn’t end there. Tianyancha, a company information site, revealed that two companies are trying to register a Chinese copy of Dogecoin. The Chinese name, which literally translates as “coin dog,” has been the subject of trademark applications from two separate tech companies in Shanghai and Changsha. According to the source, the brand is awaiting a physical review.

Top new Binance manager
Binance recently appointed the new president of Greater China as the leadership positions continue to change. Binance is a very decentralized company that hides many features and structure from prying eyes. The company moved its headquarters from China in 2017 after facing huge doubts in the regulators. However, China has a high concentration of traders and investors, which makes the region very attractive for centralized exchanges.

Carefully selected words of encouragement?
Li Bo, vice president of the People’s Bank of China, was surprised when he announced at a conference that the bank was considering bitcoin and cryptocurrencies as investment options. In a country where words are usually left to chance, this is a strong indication that Beijing’s stance towards cryptocurrency continues to decline.

The digital yuan is a gamble
In the news regarding the digital yuan, many fear that the tightening of controls on the currency could deal a new blow to the gaming industry in Macau. The region, which relies on the mainland for around 70% of the traffic, is said to suffer if illegal means become more difficult to move across national borders.

Influential currency
Finally, a former governor of the People’s Bank of China has warned that using digital taxes could lead to a customs war. At the Boao Forum for Asia, he defended China’s growing presence in the digital economy and stressed the importance of multilateralism. China is gradually expanding its influence in neighboring countries through economic policy, and this issue can be accelerated by the advanced infrastructure of the digital yuan.

LEAVE A REPLY