Due to the favorable market situation, investments in cryptocurrencies with Chinese yuan (CNY) have risen sharply. The Chinese crypto trade is experiencing a comeback after record low and despite bans. This testifies to the ingenuity of the Chinese Bitcoin fans and points to the general focus of the Chinese economy on Bitcoin.
China’s crypto investors are increasingly buying Bitcoin. Coinlib capture of the crypto market results in a total investment of yuan in BTC of $ 164 million over the last 24 hours of the money flow statement.
Yuan’s second largest fiat currency after US dollars
The yuan is the second strongest fiat currency on the market after the US dollar and the Brazilian real. The most yuan is invested in Bitcoin; but also ethers ($ 75 million) and Stellar ($ 19.94 million) benefit from Chinese investment.