Now China is going even further, targeting individuals, not just businesses, and closing off ways to get around earlier limits, although Friday's ban stopped short of banning possession of cryptocurrencies.Įlsewhere across the market, ether, the second-largest cryptocurrency after bitcoin, was last up around 5% at $3,109.29 on the Kraken exchange, making it one of the stronger performers among the larger tokens, while bitcoin was up 1.4% around $43,869, according to CoinMarketCap.
Earlier this year, Beijing cracked down on financial institutions from offering crypto services as well as bitcoin mining. In 2017, it also ordered local cryptocurrency exchanges to cease operations, forcing people in China to use off-shore exchanges. DEX coins are native to decentralized platforms that allow their users to trade without any kind of intermediary, such a broker, bank, or clearing house.Ĭhina has waged a years-long campaign against virtual currencies dating back to 2013, when it banned banks from handling bitcoin transactions. ET, while smaller rival sushi rose as much as 29%, but was last up 5% to $11.00, according to Binance data. Uniswap - the largest DEX token by market value - was up 37% earlier in the day, but pared some of those gains to stand around $24.69 up 12%, by 06:11 a.m. Last week, China banned all trading and mining activity, as well as forbidding foreign exchanges from doing business with users on the mainland, triggering a sell-off that wiped as much as $200 billion off the value of the total crypto market in a single day at one point.īut by Monday, bitcoin, ether and a host of smaller coins were on the way to recovering much of those losses, with DEX coins ripping higher. The cryptocurrency market surged in value on Monday, recovering from Friday's slump that was triggered by China's ban on trading and mining, while decentralized exchange tokens sushi and uniswap were the main beneficiaries of the bounce-back. (Chia'), a new energy efficient decentralized blockchain created by Bram Cohen (the inventor of BitTorrent), today launches its revolutionary digital currency, chia.