Chinese crypto Investors Earned More than $1 billion in a Year, Despite government Bans
In 2023, cryptocurrency investors around the world earned more than $37 billion. Chinese users were among the top five in terms of profit, despite Beijing's tough stance on any activity related to digital assets
According to a new Chainalysis report, crypto investors from mainland China earned $1.15 billion, ranking fourth after the United States, Great Britain and Vietnam. Hong Kong traders, in turn, made a profit of $250 million.
Chainalysis noted that compared to the previous study published in 2021, mainland China has risen in the ranking by one line. This suggests that the community of cryptocurrency enthusiasts in the country continues to thrive, despite the prohibitions of the authorities.
The analysts' assessment is based on data from centralized crypto exchanges (CEX), where cryptocurrency can be converted to fiat, and does not take into account decentralized trading platforms (DEX). Despite the fact that the size of investors' profits for 2023 cannot yet be compared with the values recorded at the peak of the last cycle, these figures still represent a significant increase compared to the devastating year 2022. At that time, the total losses of market participants worldwide amounted to $127.1 billion.
Source: https://ru.beincrypto.com/kitaiskie-kriptoinvestory-2023/
