News Formal

‘Panic Buying’ of Chinese Stocks Weighs on Crypto’s Most-Traded Token

  • 📰 BNNBloomberg
  • ⏱ Reading Time:
  • 48 sec. here
  • 12 min. at publisher
  • 📊 Quality Score:
  • News: 58%
  • Publisher: 50%

Asia 뉴스

Pacific Rim,Business,China

One of the best measures for gauging demand for cryptocurrencies suggests that some Chinese investors are shifting away from digital assets and back to the nation’s surging stock market.

Following China's historic stimulus rally, Yale University senior fellow Stephen Roach, says Beijing authorities need to beware of a few risks.

Tether’s USDT stablecoin, the world’s most used cryptocurrency, has been trading at a discount at times relative to the dollar since the end of September, according to Dessislava Aubert, senior research analyst at blockchain data firm Kaiko. The emergence of the discount coincided with a series of easing measures by China’s central bank designed to stem a worsening economic outlook that sent stock prices soaring.

The absence of USDT/Chinese yuan trading pairs on crypto exchanges because of the ban has made the dollar the de facto barometer for measuring activity, Kaiko’s Aubert said. The slight discount suggest more demand for dollars and selling of Tethers. The demand isn’t just being driven by retail investors, according to Laura Vidiella del Blanco, the New York-based head of business development and strategy at crypto hedge fund MNNC Group. Some of the firm’s institutional investors are shifting allocations to Chinese stocks.

이 소식을 빠르게 읽을 수 있도록 요약했습니다. 뉴스에 관심이 있으시면 여기에서 전문을 읽으실 수 있습니다. 더 많은 것을 읽으십시오:

 /  🏆 83. in KR
 

귀하의 의견에 감사드립니다. 귀하의 의견은 검토 후 게시됩니다.

대한민국 최근 뉴스, 대한민국 헤드 라인

Similar News:다른 뉴스 소스에서 수집한 이와 유사한 뉴스 기사를 읽을 수도 있습니다.

'We're in a stealth bull market' - Nicole Adshead-Bell on generalists buying resource stocksThe Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
출처: KitcoNewsNOW - 🏆 13. / 78 더 많은 것을 읽으십시오 »

Chinese Stocks on Verge of Five-Year Low as Recovery Hopes Fade(Bloomberg) -- Chinese stocks are on the brink of falling to a five-year low seen in February as bearish sentiment grips the market amid a lack of earnings...
출처: YahooFinanceCA - 🏆 47. / 63 더 많은 것을 읽으십시오 »

Chinese EV stocks tumble as Beiijng looks to protect its tech: RptChinese electric vehicle stocks (NIO, LI, XPEV) are under pressure on reports that China is encouraging its car makers to keep advanced EV technology within ...
출처: YahooFinanceCA - 🏆 47. / 63 더 많은 것을 읽으십시오 »

Stock market today: Wall Street hangs near records after Chinese stocks soarNEW YORK (AP) — U.S. stocks are hanging near their records after Chinese stocks soared following a slew of moves by the Chinese central bank to prop up the world’s second-largest economy. The S&P 500 added 0.
출처: SooToday - 🏆 8. / 85 더 많은 것을 읽으십시오 »

Chinese Stocks Extend Gains on Continued Stimulus Optimism(Bloomberg) -- Chinese stocks extended their gains on Wednesday as investors continued to bet that Beijing’s latest stimulus measures would help drive a...
출처: YahooFinanceCA - 🏆 47. / 63 더 많은 것을 읽으십시오 »