Top China Coins Ready To Skyrocket

The Securities and Futures Commission (SFC) of Hong Kong suggested on February 20 that a licensing system be established for cryptocurrency exchanges, and in the near future, it will permit ordinary individuals to trade major cryptocurrencies such as Bitcoin and Ethereum. This article discusses the leading Chinese Coins and explains why they are likely to experience a significant increase in value soon.

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Hong Kong’s Green Signal to Crypto Trading

According to the statement, every centralized cryptocurrency exchange that operates in Hong Kong is required to obtain a license from the regulatory authority. Interestingly, it appears that the United States is not the sole global financial powerhouse capable of causing market turbulence.

 

As mentioned previously, the People's Bank of China, the country's central bank, infused $92 billion USD into the market on Friday, surpassing the ongoing quantitative easing measures of the US Federal Reserve.

China Coins Read to Skyrocket 

Hong Kong's decision to legalize cryptocurrency has given a significant boost to several Chinese coins. In the space of a week, coins such as Filecoin, Polkadot, Conflux, and VeChain have experienced a substantial increase in value. Now, let's delve into the specifics of these Chinese coins and how they have performed thus far.

 

FileCoin (FIL) Bitcoin of China

Filecoin is a decentralized storage system and public cryptocurrency that strives to "preserve the most critical data of humanity." In the previous week, FIL had one of the most significant price hikes due to the imminent launch of the Filecoin Virtual Machine (FVM).

 

At the moment of writing, the cost of Filecoin was approximately $8.47, with a 24-hour trading volume of $1,177,434,248, indicating an increase of 55.65%. FIL, which remains strong at the 22nd position, has seen a 66.42% increase in value in just one week.

Conflux (CFX)  Ethereum of China

Conflux, China's sole public blockchain, has experienced a notable surge in value, with its native cryptocurrency CFX rising by more than 366.10% in the previous week, as reported by CoinMarketCap. Conflux, established in 2018 by a prominent Chinese computer scientist named Dr. Andrew Chi-Chih Yao, is a layer-1, permissionless blockchain that operates from China.

 

At the moment of writing, Conflux's value was $0.2848, with a market capitalization of $594,740,080. However, the 24-hour trading volume had decreased by 48.91% and now stands at $411,808,266. According to the cryptocurrency market tracker CoinMarketCap, the circulating supply of CFX is approximately 2,090,735,404.

 

EOS One of the best Smart Contract Platform

EOS is the primary cryptocurrency of the EOSIO network, an open-source blockchain platform that emphasizes high performance, adaptability, security, and user-friendliness. It operates on a Delegated Proof of Stake (DPoS) network that features an extensible WebAssembly engine to execute almost free transactions in a deterministic manner.

 

The EOS Network is easy to use, making it an appealing option for users new to blockchain. Currently, the price of EOS is $1.20, with a 24-hour trading volume of $185,273,431, and it has experienced a rise of almost 14.66% over the previous seven days.

 

PolkaDot (DoT) Loved by Chinese

In the last week, Polkadot (DOT) has surpassed the top cryptocurrency assets as the digital asset market strives to recover. DOT functions as the governance token of the Polkadot network, which is an advanced technology that facilitates multiple blockchain networks to share data and assets in real-time. It also enhances efficiency and reduces obstacles for new users and developers.

 

Currently, Polkadot is priced at $7.10 with a 24-hour trading volume of $394,686,273, according to the latest information. It has grown by almost 14.81% in a week. As per CoinMarketCap, Polkadot's market capitalization is $8,270,571,159, and the approximate circulating supply is 1,159,443,447 DOT.

 

Vechain Chain Supply Chain Blockchain

VeChain (VET) is a blockchain platform focused on supply chain management. It was launched approximately seven years ago and has been growing its ecosystem by introducing new decentralized applications and solutions. VeChain's aim is to transform traditional business models by offering a decentralized trust layer for multi-party ecosystems. It has already achieved significant accomplishments with notable clients and government entities.

 

At the moment of writing, VeChain's market price is $0.02905, which represents an increase of 22.85% over the past week. Its market capitalization is currently $2,106,762,852. The circulating supply of VeChain, according to CoinMarketCap, is approximately 72,511,146,418 VET.