China

Weekly-Crypto-Market-News-Round-Up
Weekly Crypto Market News Round Up

McDonald’s China Creates Its Own NFT Despite China Crypto Ban Axie Infinity Reaches 2m Players Amid AXS Price Surge and More The crypto space is slowly getting better as days go by. In fact, it is seen that the crypto space has been pumping its market cap in the past few days. At the time of writing, the market cap of the entire crypto market amounts to over $2.4 trillion with a 24-hour growth rate of almost +1%.  The surge of Bitcoin is also one of the hottest topics in the crypto space in the past few days. This is

6 mins read
McDonald’s China Releases Big Mac Cube NFT Amid China Crypto Ban

McDonald’s China Released Big Mac Cube NFT The NFT is released to celebrate the 31st anniversary of McDonald’s in China McDonald’s, one of the world’s most famous and biggest fast-food chains in the world, enters the world of NFT. To be specific, In celebration of its 31st anniversary, McDonald’s China released its first NFT creative design called the Big Mac Rubik’s Cube. The Big Mac Cube NFT is a three-dimensional dynamic digital creative work inspired by the brand spirit of McDonald’s. Zhang Jiayin, CEO of McDonald’s China, explained: “McDonald’s is a young and trendy brand that has always paid attention

1 min read
OKLink Unites With China Institute
OKLink Unites With China Institute to Fight Crypto Crimes

OKLink partnered with Nanjing Public Security Research in China TikTok bans crypto influencers The OKLink, a blockchain money transfer network has partnered with Nanjing Public Security Research in China. Specifically, this partnership aims to deepen the security of the country against fraudulent transactions in China. These heinous activities include money laundering and other illicit transactions. These made Wu Blockchain, a Chinese journalist and blockchain enthusiast, react: Furthermore, the Nanjing Public Security institute also announced that this partnership seeks to accelerate the effectiveness and improvement of blockchain in the government. The agreement between OKLink and Nanjing Public Security includes setting up

2 mins read
What Next for Chinese Bitcoin Miners
After Government Crackdown, What Next for Chinese Bitcoin Miners?

Chinese Bitcoin miners are either shutting down or relocating amid government crackdown. Those that did not exit the market are selling bitcoins to move to crypto mining-friendly places like Texas and Kazakhstan. Publicly-traded Chinese Bitcoin mining firm BIT Mining has shipped 320 machines to Kazakhstan to restart its operations. The Chinese government has ordered the closing of Bitcoin mining activities within the country. This has affected the Bitcoin community at large, especially because more than half of the network’s hashing power comes from Chinese miners. Now that these Chinese miners cannot mine bitcoins in the country any longer, what will

2 mins read
BTC Price Plunges as China Slays Crypto Mining
BTC Price Plunges as China Slays Crypto Mining and Trading

Bitcoin price drops as China continues its crypto ban campaign MicroStrategy bought an additional 13,005 BTC Bitcoin price plunges drastically as China continues its campaign against cryptocurrencies. This movement of China has been made to control the financial risk in the country. Furthermore, the People’s Bank of China (PBOC) has reached out to some payment firms to strengthen their regulations against crypto trading. The China Construction Bank and Alipay are some of the major payment firms that the PBOC has invited. This initiative made by the PBOC aims to stop criminals from abusing cryptocurrencies in their transactions. PBOC explained further:

1 min read
BTC Dives Below $36k as China Cracks Down BTC Miners
BTC Dives Below $36k as China Cracks Down BTC Miners

Bitcoin fails to maintain its position above the uptrend position of $40k. China continues the cracking down of Bitcoin mining farms. Bitcoin fails to maintain its position above the uptrend position of $40k. As a result, the price of the crypto falls below $35k with a 7-day decline rate of -2.1%. This price decline of crypto is due to some issues that BTC is facing right now. The continued cracking down of Bitcoin mining farms is one reason to consider. Specifically, the shutting down of Bitcoin mining farms is a very hot topic in China. This movement comes after the

2 mins read