• Chinese cryptocurrencies including Filecoin, VeChain, and Tron have lost an average of 16% in August 2023.
• The Chinese narrative surrounding Hong Kong’s crypto adoption has failed to pump the tokens.
• The future of these tokens remains unclear amid uncertainty surrounding China’s stand on crypto.

Cryptocurrencies based in or associated with China remain among the most closely followed by the crypto community. These crypto tokens were widely anticipated to rally this month, following the approval of retail crypto trading licenses in Hong Kong. However, the Chinese narrative appears to have had little impact on the Chinese crypto tokens.

On August 3, 2023, the Hong Kong Securities and Futures Commission (SFC) granted the city-state’s first-ever crypto exchange licenses for retail trading. The move was expected to trigger a bull run for several Chinese crypto coins including Neo (NEO), Filecoin (FIL), VeChain (VET), Tron (TRX), and Ontology (ONT).

Crypto traders and experts cited a simple thesis for their anticipation: Being a special administrative region of China, Hong Kong’s acceptance of retail crypto trading would be bullish for Chinese crypto tok…

The post Future of Chinese Cryptocurrencies: A Look at NEO, FIL, VET, TRX, ONT appeared first on Coin Edition.

• Chinese cryptocurrencies including Filecoin, VeChain, and Tron have lost an average of 16% in August 2023.
• The Chinese narrative surrounding Hong Kong’s crypto adoption has failed to pump the tokens.
• The future of these tokens remains unclear amid uncertainty surrounding China’s stand on crypto.

Cryptocurrencies based in or associated with China remain among the most closely followed by the crypto community. These crypto tokens were widely anticipated to rally this month, following the approval of retail crypto trading licenses in Hong Kong. However, the Chinese narrative appears to have had little impact on the Chinese crypto tokens.

On August 3, 2023, the Hong Kong Securities and Futures Commission (SFC) granted the city-state’s first-ever crypto exchange licenses for retail trading. The move was expected to trigger a bull run for several Chinese crypto coins including Neo (NEO), Filecoin (FIL), VeChain (VET), Tron (TRX), and Ontology (ONT).

Crypto traders and experts cited a simple thesis for their anticipation: Being a special administrative region of China, Hong Kong’s acceptance of retail crypto trading would be bullish for Chinese crypto tok…

The post Future of Chinese Cryptocurrencies: A Look at NEO, FIL, VET, TRX, ONT appeared first on Coin Edition.