China-Centric Crypto Assets Smoke Bitcoin; NEO, ONT, IOST Rally by Over 30%
Well, on Friday, Chinese state media outlet Xinhua revealed that China’s leader had called for the adoption of blockchain “as an important breakthrough for independent innovation of core technologies” in a meeting of the Political Bureau of the Chinese Communist Party’s Central Committee. State-run outlet Xinhua revealed that Xi lauded the potential benefits of blockchain technologies in a swath of industries, including finance, education, health care, food security, and more.
While this surge may be Western speculators trying to play the market, there may be some evidence to suggest that the surge that has been seen in NEO and other China-centric cryptocurrencies and blockchains can be tied to a Chinese investor base. Analyst Cole Kennelly found that searches for the Chinese term for the word “blockchain” have literally 12xed overnight after President Xi’s statements on the technology.
