Chinese Crypto FOMO is Bigger than Bakkt, Libra, ETFs Combined

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Crypto markets have had one of their best performing weekends this year and the momentum is all coming from the same place. Chinese crypto assets are surging at the moment following recent comments by President Xi and new cryptography legislation to promote blockchain technology. Crypto FOMO is Real Bitcoin dominance is back over 70% and crypto markets have surged over $50 billion in just a couple of days. The FOMO is real and it is all coming from China at the moment. Late last week President Xi Jinping made some rare complimentary comments on blockchain technology. Over the weekend the Standing Committee of the 13th National People’s Congress in China passed a cryptography law which will come into effect on January 1 next year according to local media. It aims to regulate the technology to make China more competitive in the field. Both events have had a monumental effect on…

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