2024-6-11 22:00 |
Wimar shared news suggesting that China may be on the verge of unbanning cryptocurrencies in 2024 in his tweet.
This development could have a profound impact on the global crypto market, potentially leading to an influx of hundreds of millions of users and substantial funds into the ecosystem. As a result, Wimar has identified 8 tokens backed by Chinese investments that are positioned to greatly benefit from this potential policy shift.
Bybit’s Verification Process Hints at Relaxed Crypto RulesOne of the key indicators of China’s changing stance on cryptocurrencies is the recent move by crypto exchange Bybit. The platform has begun a verification process for Chinese users, implying that the country’s strict crypto regulations may soon be relaxed.
This news is particularly important, given China’s historical influence on the global crypto market, especially in terms of trading volume and mining operations.
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Show more +Show less – Potential Impact on the Global Crypto MarketThe lifting of restrictions on a multi-trillion dollar sector like cryptocurrencies is expected to welcome hundreds of millions of users and channel substantial funds into liquidity.
This could lead to a surge in trading activity and potentially drive the prices of various tokens to new heights. Wimar believes that the 8 tokens he has identified are well-positioned to capitalize on this potential crypto revolution under the guidance of the Chinese government.
8 Tokens Poised for Massive Gains Immutable X ($IMX) – Ethereum’s first zero-knowledge rollup (zk-rollup) scaling protocol for gas-free NFT minting and trading. Price: $2.01, Market cap: $2.99B The Sandbox ($SAND) – A digital realm where gamers can expand, possess, and profit from their interactive adventures on the Ethereum blockchain. Price: $0.41, Market cap: $950M Hashflow ($HFT) – A trading hub built for seamless cross-chain operations, ensuring slippage-free trades and protection against MEV exploits. Price: $0.27, Market cap: $110.5M Algorand ($ALGO) – A blockchain framework tailored for creating decentralized apps and digital currencies. Price: $0.17, Market cap: $1.4B Wormhole ($W) – Connects 20+ blockchains for developers, enabling DeFi, NFTs, and governance with secure cross-chain communication. Price: $0.67, Market cap: $1.2B Cortex ($CTXC) – Transforms blockchain by enabling AI model execution on-chain, incentivizing developers to open-source their models, and boosting dApp functionality. Price: $0.3, Market cap: $67M Mantle ($MNT) – A flexible, second-layer blockchain framework designed to enhance Ethereum’s scalability and performance using Optimistic Rollups technology. Price: $0.94, Market cap: $3.07B Ontology ($ONT) – A robust public blockchain and collaborative distributed platform that delivers a decentralized framework for identity and data management. Price: $0.27, Market cap: $276MThe 8 tokens identified by analyst Wimar, backed by Chinese investments, are well-positioned to benefit from this potential policy shift and could experience gains in the coming years.
Read more: Bitcoin Analysts Unveil Key Reasons BTC Price Has Failed to Break Above $72k
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The post 8 Tokens Including Immutable (IMX) and The Sandbox (SAND) Poised for Massive Gains as China Plans to Potentially Unban Crypto appeared first on CaptainAltcoin.
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