Our Man in Shanghai: Huobi looks to become Grayscale of Asia, Yao Ming’s NFT wine, and Chinese crypto investors go to the dogs

Huobi Asset Management is looking to be the Grayscale of Asia with the launch of four cryptocurrency related tracker funds. The funds include a Fund, an fund, a multi-asset basket of digital currencies, and a private equity fund for mining businesses. The aim is clearly to entice major institutional investors into the space with a product that feels familiar. The fund and asset management company is set up in Hong Kong, even though Huobi maintains several offices within the mainland. Huobi is China’s most established exchange and ranks second on the global liquidity rankings behind Binance.

DOGEmania continues

High volumes and volatility continued on the world’s most popular memecoin. On April 28th, searches on WeChat for the Chinese version of ‘Dog-coin’ were up over 65% from the previous day. Shiba, another dog-themed memecoin, was also popular with Chinese exchanges MXC, Gate, Hotbit, LBank and Hoo. These five claimed the top spots for centralized exchanges by volume on April 29th. This suggests that Chinese investors are less attracted to fundamentals and continuing to invest in a more trend-based manner.

Yao Ming takes a shot at NFTs

Crypto projects wriggle off the hook

Digital China Summit and the digital yuan

Continue Reading on Coin Telegraph

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





Source link

×