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China-based Businesses Show Signs of Reentry into the Crypto Market

  • Data analytic firm believes there are signs that China is returning to the crypto market.
  • CryptoQuant hinted at the growing BTC reserve of the Chinese Okx crypto exchange.
  • Last month, the first Chinese ETF raised nearly $79 million during its debut.

According to data analytic firm, CryptoQuant, there are signs that China is returning to the crypto market. CryptoQuant expressed this sentiment in its most recent weekly report on the digital asset market.

The analytic firm draws the conclusion of China’s return based on recent developments around some China-based businesses. It also hinted at the growing Bitcoin (BTC) and (ETH) reserves of the Chinese Okx crypto exchange.

CryptoQuant noted that the growth rate was not only in the crypto spot market but also in Open Interest in China-based crypto exchanges.

Written by Sandy Sullivan