Our Man in Shanghai: Digital yuan tests, ‘bear market’ and ‘NFT’ searches spike

Digital RMB testing for cross border payments and electric vehicles continues, sentiment takes a dive and blockchain events return to meatspace.

Sentiment in China has slumped as WeChat searches for Bitcoin dropped 7% this week, while searches for “bear market” spiked 102%. One trend that remained strong was NFT-related, with NFTs receiving an 86% increase in WeChat searches over the seven-day period. Token sales were another hot item with interest in Casper Labs surging after signups on CoinList breached 100,000 on global platforms.

One high-profile token sale to emerge from China was DAO-as-a-Service platform Dora Factory. The project, backed by DoraHacks, held a public token launch on March 21 with listings on OKEx, Gate and MXC. DoraHacks is well-known for hosting developer events and is one of the most active blockchain developer communities to originate from China. The team will be hosting a global hackathon series in 2021, landing in regions including Singapore, the United States, Germany and India.

Reference :

https://cointelegraph.com/news/our-man-in-shanghai-digital-rmb-tests-bear-market-and-nft-searches-spike

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Author: Priyanka

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