China's interest in cryptocurrencies continues to grow despite legislative bans. Recent economic events have created interesting trends, including a surge in stock buying and indirect interest in digital assets.

Market Panic and Interest in Cryptocurrencies

China's market is experiencing panic buying, as noticed by Hashkey's CEO, Livio Weng, who stated: 'There is a state of panic buying of stocks, and traders are in a hurry to exchange them for real money.' This reflects an unclear picture of USDT selling pressure by Chinese investors on exchanges.

Financial Strategies of Chinese Investors

Yuan merchants from China keep their price quotes from 6.78 to 6.98 per yuan for USDT, while the offshore yuan remains at 7.07 per dollar. During the Golden Week holidays in China, some brokerage firms showed interest in attracting new clients, which is linked to analysts' feedback on the demand to trade A shares and currency.

Increase in Interest in Cryptocurrencies in China

Despite the existing ban on cryptocurrencies, Chainalysis Inc. reports demonstrate a significant inflow of cryptocurrency through over-the-counter brokers in China. This shows that Chinese investors continue to have a strong interest in cryptocurrencies, regardless of the government ban.

The situation in China's market shows that despite the bans, interest in cryptocurrencies remains high. Investors continue to look for opportunities to invest in digital assets, as evidenced by Chainalysis data.