China has had a complicated relationship with cryptocurrencies in the past, as it has concurrently banned them and has impacted the crypto market in a negative way. The recent signs are suggesting that China’s hardline stance on cryptocurrencies might shift, and the ban might be lifted.
If the ban does indeed get lifted, cryptocurrencies in China could have profound implications for the crypto market and could drive demand whilst also boosting prices in the process. Tradecurve’s utility token, TCRV, on the other hand, has skyrocketed in value in light of recent news and developments.
Why The Blockchain Market Can Explode if China Lifts The Crypto Ban
China is one of the world’s most significant economies in size, and its stance on cryptocurrencies always had a profound impact on the value of the entire market. However, China did historically have a complicated relationship with cryptocurrencies, where they consistently banned them.
As of May 27, 2023, Beijing ended up issuing a whitepaper titled “Web3 Innovation and Development White Paper (2023)”, where it advocated that Web3 technology is an important component of the future of the growth of the internet. That being said, the document was released by The Beijing Municipal Science & Technology Commission, which aims to position Beijing as a global innovation hub for the digital economy. The Chaoyang district will invest around $14 million annually until 2025, and the white paper also notes the commitment towards bolstering policy support and accelerating tech advancements with the goal of pushing the Web3 space forward.
How Tradecurve Skyrocketed In Value
It is clear that China is pushing cryptocurrency adoption forward, but no matter what happens, even if they reverse the decision, Tradecurve a hybrid trading exchange will always allow anyone from anywhere globally to access both cryptocurrency and any derivative trading in a truly decentralized way.
Tradecurve combines the best elements found in CEXs and DEXs and is positioned to become a main competitor to Kraken, Binance, Coinbase, and others. However, unlike those exchanges, Tradecurve does not require any mandatory KYC requirements, as users can just deposit crypto and use it as collateral to begin making trades.
There are also advancements in its technology, such as high leverage starting at 500:1, Proof of Reserves (PoR), a VIP account system, negative balance protection, and for the newbies, a dedicated Trading Academy.
Moreover, TCRV is the utility token that is used across the platform. In the past week, the value of the TCRV increased by 25%. The project is undergoing Stage 3 of the presale, where one TCRV token is worth just $0.015. Analysts predict that the cryptocurrency can climb in value by 100x at launch, especially now that China is bolstering the future of Web3 adoption and making Beijing a central hub for cryptocurrencies.
Learn more about Tradecurve and the TCRV utility token here: