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Globally, the blockchain-related stock market has always performed better than other cryptocurrency stock markets around the world. Flash crash on Wednesday.
According to a basket of eight Chinese A-shares related to the blockchain industry planned by Bloomberg, as of 6 am on Thursday, China’s blockchain stocks have fallen by less than 2%. Bloomberg report. The equity basket includes shares of Shenzhen Forms Syntron, an IT services company, Ygsoft, a business management company, and Brilliance Technology, a company focused on data exchange.
According to reports, Ygsoft is a Chinese company that specializes in blockchain-based tools for supply chain and product traceability. At the time of writing, it has fallen by about 1.6% in the past 24 hours. data From TradingView. Brilliance Technology, develops payment and transaction tools for realizing big data and blockchain, slip More than 2% at the time of publication.
Compared with the average decline of Bloomberg’s basket of 24 global blockchain and foreign cryptocurrency stocks, the losses of China’s blockchain-related stocks are significantly smaller than the losses of industry stock markets in other parts of the world.
Coinbase, a NASDAQ-listed cryptocurrency exchange shut down Trading on Wednesday fell nearly 6% to $224. Michael Saylor’s business intelligence company MicroStrategy, which holds a large amount of Bitcoin (Bitcoin), Sink Nearly 7%.
The difference between the blockchain-related stock markets in China and the rest of the world can be attributed to China’s previous crackdown on cryptocurrencies.country Prohibition of cryptocurrency transactions And the token issuance in 2017 has greatly reduced the nature of its blockchain-related listed companies. Vijay Ayyar, head of the Asia-Pacific region of Luno, a Singapore-based cryptocurrency exchange, said that this makes China less affected by changes in the cryptocurrency market.
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