New Trend Chinese Altcoins? Analyst Commented and Listed Chinese Origin Coins!

Cryptocurrency market such as Metaverse and artificial intelligence (AI) altcoin After the trends experienced their rally, they went into a recession phase.

What is the Reason for the Rally of Chinese Origin Altcoins?

Recently, there have been fluctuations in the price of altcoins that are somehow connected with China. Cryptocurrency analyst Miles Deutscher attributes the rally of some of the China-linked coins to:

“The following factors have recently been instrumental in pumping most of these coins:

• – Chinese financial incentives

• – Cryptocurrency legalization in Hong Kong

• – Increasing Asian open position”

However, Miles Deutscher also shared the China-linked coins he follows. Deutscher also added that many of these coins are not among his long-term positions:

“The fundamentals of many of these are questionable, and many do not fit into my framework for long-term positions.”

8. Chinese Coins

The following factors have been recent contributors behind many of these coins pumping:

• Chinese monetary stimulus
• Hong Kong crypto legalization
• Increased Asian open interest

— Miles Deutscher (@milesdeutscher) February 18, 2023

Deutscher said that while creating the “Chinese coin” list, the price movements of the coins were based on the fact that Chinese investors or their main promoters were Chinese.

The analyst listed the altcoins he thought to be China-linked as follows:

• Alchemy Pay (ACH)
• Conflux (CFX)
• Cortex (CTXC)
• Filecoin (FIL)
• Flamingo Finance (FLM)
• Highstreet (HIGH)
• SelfKey (KEY)
• neo (NEO)
• QuarkChain (QKC)
• Qtum (QTUM)
• The Virtua Kolect (TVK)
• VeChain (VET)
• COCOS BCX (COCOS)

Don’t fade the Chinese coins.

Here’s my watchlist: pic.twitter.com/9ZDI9r2vQB

— Miles Deutscher (@milesdeutscher) February 18, 2023

Deutscher responded to a follower who said that Filecoin is not of Chinese origin and should not be included in this list, saying that it is one of the most held coins in China and therefore fits in with this trend.

*Not investment advice.