𝗖𝗛𝗜𝗡𝗘𝗦𝗘 𝗡𝗘𝗪 𝗬𝗘𝗔𝗥 often impacts the cryptocurrency market due to significant shifts in trading activity. Many investors in China and East Asia liquidate assets, including cryptocurrencies, to cover holiday expenses or give red envelopes ("hongbao"). This increased selling pressure can lead to short-term price drops. Additionally, reduced trading activity during the holiday period may lower market liquidity, potentially causing heightened volatility. However, the celebration also sparks easiness about wealth and prosperity, which can positively influence market sentiment post-holiday. Overall, while the Chinese New Year introduces temporary fluctuations, its long-term impact on the cryptocurrency market remains limited and situational.
Here are some notable cryptocurrency projects with strong ties to China or founded by Chinese teams:
1. NEO
2. VeChain (VET)
3. Conflux (CFX)
4. Ontology (ONT)
5. Tron (TRX)
6. Qtum (QTUM)
7. Bytom (BTM)
8. Filecoin (FIL)
