June 20, 2024
By Sharan Kaur Phillora
Bybit, a major cryptocurrency exchange, has announced that Chinese users living outside of mainland China can now open accounts and use its services. This move has not faced any opposition from the Chinese government so far, leading to a frenzy in the crypto space. Industry analysts are projecting a significant surge in various cryptocurrencies as a result of this development.
Here’s what we know:
This decision by Bybit marks a monumental shift in the cryptocurrency world, potentially causing a ripple effect in the altcoin market. Analysts have identified several altcoins that could benefit from this surge due to their exceptional features, innovative technology, and strong community support.
One of the altcoins expected to see significant growth is Angry Pepe Fork (APORK). Currently in its first presale stage, APORK has introduced unique features such as a “Conquer to Earn” mechanism, where users collaborate to outperform older meme coins. The platform also offers a staking dApp, allowing users to stake their $APORK coins for periods of 30, 60, or 90 days, which helps boost the token’s value over time. Additionally, APORK has undergone a smart contract audit, enhancing its security and appeal in the market.
Another altcoin to watch is Celestia (TIA), which saw a massive surge of over 310% in the last year. Despite recent declines, optimism remains high for TIA, with analysts citing its previous performance as an indicator of a potential resurgence.
Hedera (HBAR) is also expected to benefit from Bybit’s move. HBAR has demonstrated its commitment to the market with its innovative Hashgraph technology, enabling swift and secure transactions. Although it has faced recent declines, analysts anticipate a recovery soon.
Polygon and Polkadot, already established players in the market, are also expected to see positive impacts from this development. Overall, Bybit’s decision to open its platform to Chinese expats is poised to drive significant growth in the altcoin market.
About the author
Sharan Kaur Phillora’s thirst for knowledge has led her to study many different subjects, including NFTs and Blockchain technology – two emerging technologies that will change how we interact with each other in the future. When she isn’t exploring a new idea or concept, she enjoys reading literary masterpieces.
