Published on 31 Mar 2023 on Yahoo Finance UK
Crypto prices surge on China's rate rise halt
There is a perception that attitudes are softening towards crypto in both Hong Kong and Beijing. Photo: Florence Lo/Reuters (Florence Lo / reuters)
China-based blockchain companies have surged, with some up 500% in the past week, after a decision by the nation's central bank to halt rate rises and the perception that attitudes are softening towards crypto in both Hong Kong and Beijing.
The cryptocurrency market cap increased on Monday to $1.19tn (£985bn), up 1.1% in the past 24 hours, according to data from Coingecko.