China crypto news of the week (April 25 to May 2)

Highlight of the week: The platform currency of the Chinese exchange ushered in a big explosion. OKEx's platform currency OKB rose more than 100% from May 1st to May 2nd, and Huobi's platform currency HT rose 50% a week after the announcement of the HECO campaign. Binance's platform currency, BNB, has risen 100% in the last 30 days, considering its market value is second only to BTC and ETH.

The soaring of the platform currencies of the three major exchanges is directly related to their imitating the public chain of Ethereum. Taking BSC as an example, BNB is continuously consumed as a gas fee, and a large amount of liquidity mining requires BNB as a pledge. Due to exchange support, low gas fees, and excellent projects that can log on to the exchange, it has attracted many projects that copied the ETH chain and even obtained better short-term data. The public chains of Huobi and OKEx are also similar to BSC, but are more biased towards China.

An interesting phenomenon is that HECO's largerst DEX MDEX has recently developed BSC at the same time, and has achieved TVL of more than 2 billion U.S. dollars on both exchange public chains. In the future, the public chains of the three major exchanges may also cooperate and merge with each other.

WuBlockchain: At present, BSC is the most mature. OKEx likes to pull its own platform currency. Huobi is stronger than OKEx, but it swings in the line of compliance (Coinbase) and non-compliance (Binance). In any case, the projects of outstanding background teams in the exchange public chain are worthy of attention, because they will more or less skyrocket when they log on to the exchange.

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1. China's fascinated Chia will be listed on exchange on May 4. The hashrate of the entire network has doubled within a week, and the off-market price has reached 800U. A week ago, the price was 200U. It caused China's hard drive shortage phenomenon to be reported by global media.

2.Chinese President Xi recently stated that achieving carbon peak and neutrality is a commitment made by China to the world, high energy-consuming projects that do not meet the requirements must be resolutely banned. The Beijing government is checking whether the data center is used for cryptocurrency mining and considering whether to crack down on it. It will have a negative impact on China's crypto mining industry.

3.Platon, China's largest project this year, has launched on April 30, which raised more than $50m and initiated by Wanxiang, early supporter of Ethereum. It focuses on the privacy public chain, uses blockchain to solve problem of confirmation and circulation of private data.