Chinese Altcoins Surge Following President Xi’s Blockchain Comments
The crypto market surged back to life on Friday after Chinese President Xi Jinping gave a speech on the need to focus on accelerating the development and adoption of blockchain technology.
In the immediate aftermath of Xi’s comments, China began mobilizing to push blockchain into its mainstream culture and infrastructure, with major universities literally launching courses overnight.
12 hours after the major "Xi Pump"
1. "Blockchain" headlined on People's Daily print version today
2. Top Universities in China start "Blockchain" course offering overnight
3. Expect to see massive blockchain initiatives from local municipal soon
The ripple effect is strong pic.twitter.com/2E2Be6RHol
— Dovey 以德服人 Wan 🪐🦖 (@DoveyWan) October 26, 2019
While Bitcoin (BTC) was initially the biggest beneficiary of Xi’s new bullish stance on blockchain technology, major altcoins based out China or with a major footprint there are seeing massive gains over the last 24 hours.
The following Chinese altcoins are up big on the day:
- Nebulas (NAS): 53.1%
- NEO (NEO): 30.2%
- Ontology (ONT): 50%
- QTUM (QTUM): 27%
- TRON (TRX): 17.1%
- VeChain (VET): 25.3%
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.