Coinspeaker
Chinese Coins Surge in Value Following Central Bank Liquidity Injection
Chinese coins soared to double-digit gains yesterday following the country’s injection of liquidity into the market. According to reports, the People’s Bank of China (PBoC) recently injected $92 billion into the market through reverse repurchase contracts. This development amounted to a surge in Chinese crypto project prices which could catalyze a new bull run.
With China-based digital currencies like Neo (NEO), Conflux (CFX), and Flamingo (FLM) up over 20%, some industry leaders have weighed in. For instance, crypto entrepreneur and TRON founder Justin Sun touched on the Chinese crypto market’s growth amid other developing news. Sun tweeted:
“As the crypto market continues to mature and mainstream adoption grows, China’s dominance in the space is becoming more and more apparent. With this in mind, I’ve decided to move to Hong Kong to be closer to the action and take advantage of the opport
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