• About
  • FAQ
  • Earn Bitcoin while Surfing the net
  • Buy & Sell Crypto on Paxful
Newsletter
Approx Foundation
  • Home
    • Home – Layout 1
  • Bitcoin
  • Ethereum
  • Regulation
  • Market
  • Blockchain
  • Business
  • Guide
  • Contact Us
No Result
View All Result
  • Home
    • Home – Layout 1
  • Bitcoin
  • Ethereum
  • Regulation
  • Market
  • Blockchain
  • Business
  • Guide
  • Contact Us
No Result
View All Result
Approx Foundation
No Result
View All Result
Home Business

Resilient Chinese Crypto Investors Beat Restrictions, Pocket Over $1 Billion in Profits

approx by approx
March 18, 2024
in Business
0
Resilient Chinese Crypto Investors Beat Restrictions, Pocket Over $1 Billion in Profits
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter


Cryptocurrency investors in China have defied government restrictions to emerge as the fourth-largest earners globally in 2023, according to a report by blockchain research firm Chainalysis.

Despite the government’s stringent stance on cryptocurrency-related activities, Chinese investors managed to accumulate an impressive $1.15 billion in gains, contributing to a total global crypto earnings of nearly $38 billion.

This resurgence marks a significant recovery from the previous year’s losses and underscores the enduring interest in virtual assets within China.

Source: Chainalysis

China’s Crypto Resilience

China’s performance in the cryptocurrency market stands out given the country’s strict regulations and bans on cryptocurrency trading and mining.

The success of Chinese crypto enthusiasts highlights a resilient and determined community that continues to find ways to engage in the digital asset space.

Global Market Trends

The overall cryptocurrency market experienced a rollercoaster ride in 2023, with earnings remaining steady throughout the year until a dip in August and September.

However, the market quickly rebounded, with November and December witnessing a surge in earnings that surpassed all previous months.

Bitcoin price action. Chart: TradingView

US Dominance And Hong Kong’s Market

The United States maintained its dominance in the global cryptocurrency market, with American investors securing an estimated $9.4 billion in gains, far exceeding other countries.

In comparison, investors in the United Kingdom, the second-highest-earning nation, collectively made nearly $1.4 billion.

Hong Kong, a special administrative region of China, also saw a lively cryptocurrency market, with investors securing $250 million in gains.

Source: Chainalysis

Asia’s Role And 2024 Outlook

The continued strength of cryptocurrency adoption, particularly in Asia, signals a promising horizon for the digital asset class.

Despite regulatory challenges and market volatility, the early months of 2024 have shown promising trends that might herald gains comparable to the peak of 2021.

Major cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH) have experienced notable price surges, with BTC even breaking its all-time high price record.

Regulatory Caution

Amidst the optimism, Chinese authorities have issued cautionary advice to investors, reminding them of the inherent risks associated with cryptocurrencies.

This serves as a reminder that despite recent successes, the cryptocurrency market remains volatile and subject to regulatory scrutiny.

At the time of writing, BItcoin was trading at $67,590, down 2% and 5% in the daily and weekly timeframes, data by Coingecko shows.

Featured image from Pexels, chart from TradingView



Source link

Related articles

How crypto scammers used dating apps to steal $36.9M and launder it to Cambodia

How crypto scammers used dating apps to steal $36.9M and launder it to Cambodia

July 11, 2025
Arizona’s strategic crypto reserve bills heads for full floor vote

US Congress Faces Pressure Ahead of Crypto Week Vote.

July 11, 2025
Share76Tweet47

Related Posts

How crypto scammers used dating apps to steal $36.9M and launder it to Cambodia

How crypto scammers used dating apps to steal $36.9M and launder it to Cambodia

by approx
July 11, 2025
0

Love, lies and lost coins: How online flirtation ends in crypto fraud What starts as flirtation on a dating app...

Arizona’s strategic crypto reserve bills heads for full floor vote

US Congress Faces Pressure Ahead of Crypto Week Vote.

by approx
July 11, 2025
0

The US House of Representatives is gearing up for what Republican leadership has branded “crypto week,” a legislative push scheduled...

Bitcoin Hits $118K: Critics Warn, Bulls Reload

Bitcoin Hits $118K: Critics Warn, Bulls Reload

by approx
July 11, 2025
0

Longtime Bitcoin critic and gold advocate Peter Schiff said the latest BTC rally may be a selling opportunity for investors...

Shanghai Mulls Responses To Global Stablecoin Rise

Shanghai Mulls Responses To Global Stablecoin Rise

by approx
July 11, 2025
0

Mainland China, one of the most restrictive global jurisdictions for cryptocurrencies, is reportedly showing signs of a shift in tone...

GMX Exploiter Starts Returning $40M in Stolen Crypto After Bounty Deal

GMX Exploiter Starts Returning $40M in Stolen Crypto After Bounty Deal

by approx
July 11, 2025
0

The attacker who exploited the GMX v1 decentralized exchange (DEX) and stole $40 million in crypto began returning the stolen...

Load More

youssufi.com

sephina.com

[vc_row full_width="stretch_row" parallax="content-moving" vc_row_background="" background_repeat="no-repeat" background_position="center center" footer_scheme="dark" css=".vc_custom_1517813231908{padding-top: 60px !important;padding-bottom: 30px !important;background-color: #191818 !important;background-position: center;background-repeat: no-repeat !important;background-size: cover !important;}" footer_widget_title_color="#fcbf46" footer_button_bg="#fcb11e"][vc_column width="1/4"]

We bring you the latest in Crypto News

[/vc_column][vc_column width="1/4"][vc_wp_categories]
[/vc_column][vc_column width="1/4"][vc_wp_tagcloud taxonomy="post_tag"][/vc_column][vc_column width="1/4"]

Newsletter

[vc_raw_html]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[/vc_raw_html][/vc_column][/vc_row]
No Result
View All Result
  • Contact Us
  • Homepages
  • Business
  • Guide

© 2024 APPROX FOUNDATION - The Crypto Currency News