• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Cryptocurrencies Rise Amid China's Fiscal Policy Expectations

user avatar

by Giorgi Kostiuk

2 years ago

Bitcoin has shown significant growth, reaching $63,000, amid expectations of updates to China's fiscal policy.

Bitcoin's Rise Amid Chinese Policy

On Friday, Bitcoin reached $63,000, marking a 7% increase after being at $59,000 on October 10th. This surge is attributed to investors' anticipation of updates to China's fiscal policy expected today.

The Situation with Other Tokens

Recent inflation reports in the U.S. had investors concerned, affecting other assets. According to reports, Solana, Avalanche, and Render tokens gained 6-8%. The Uniswap token showed a negative daily return on the CD20 index due to the platform's plans to introduce its own layer-2 network.

Impact of China's Policy on Crypto Market

Analysts from Coinbase note that China's fiscal policy could have a significant impact on the crypto market. According to their report, investors are hoping for substantial monetary support for the Chinese economy, which could influence the virtual asset market. By the time of the next briefing, markets will be closed, so traders are expected to actively respond to the scope and content of China's fiscal update.

At the time of the next briefing, the markets will be closed, so there is a high probability of traders knocking the door of the crypto market for showing their views over size and strength of the fiscal update of China.None

Expectations around China's fiscal policy continue to influence the crypto market. Year-end results could be favorable for riskier assets.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

Stablecoin Growth on Solana Enhances DeFi and Payment Applications

chest

The growth of stablecoins on Solana is expected to enhance DeFi lending markets and payment applications.

user avatarMohamed Farouk

Importance of Validator Voting in XRPL Governance

chest

Validator voting is crucial for determining the activation of proposed amendments in the XRP Ledger, impacting long-term network development.

user avatarTenzin Dorje

XRP Ledger Approaches Key Validator Voting Window

chest

The XRP Ledger is approaching a critical deadline for validator voting on proposed protocol amendments that could influence future network features.

user avatarAisha Farooq

Solana's Stablecoin Market Cap Hits $15 Billion

chest

Solana's stablecoin market capitalization has surpassed $15 billion, marking a significant milestone in the network's liquidity growth.

user avatarBayarjavkhlan Ganbaatar

Anchorage Introduces Native TRX Staking for Institutions

chest

Anchorage Digital has launched a new service for institutional clients to stake TRX directly from their custody accounts, allowing them to earn rewards from the TRON network without transferring assets out of a regulated environment.

user avatarElias Mukuru

Solana's Alternative Stablecoin Supply Hits 481 Billion

chest

Solana's alternative stablecoin supply has reached 481 billion, indicating a diversification of liquidity on the network.

user avatarDiego Alvarez

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.