Overview of "China Concept" Related Token Projects

When it comes to CFX, many people are likely familiar with it, but due to its choice of a challenging path—"domestic public chain," the market tends to view

After the National Day holiday, A-shares opened sharply higher on October 8. Among them, the Shanghai Composite Index rose by 10.13%, the Shenzhen Component Index rose by 12.67%, and the ChiNext Index rose by 18.44%. The A-share securities sector hit the daily limit, and stock index futures also hit the daily limit across the board.

The trading volume of the Shanghai and Shenzhen stock markets exceeded 2.5 trillion yuan for the second consecutive trading day. The trading volume of the Shanghai and Shenzhen stock markets exceeded 1 trillion yuan for the fifth consecutive trading day, taking only 20 minutes, setting a new record for the fastest trillion in history. Today, the Shanghai Composite Index briefly surged past 3600 points, and ultimately, the total trading volume of the Shanghai and Shenzhen stock markets reached 34,519.39 billion yuan, an increase of 8,589.02 billion yuan compared to the previous day.

At the same time, the ripple effect of the A-share investment boom is gradually transmitting to the crypto market: the USDT C2C price briefly dropped by about 1% this morning, currently reported at 6.9 RMB, while the USDT to RMB exchange rate has fallen below 7, lower than the USD to RMB exchange rate, indicating that some funds in the crypto market have already "escaped" to traditional financial markets like A-shares.

As we mentioned in our previous article "A-shares Break 3300 Points and Stand Tall, Cryptocurrency VS Stock Market 2024 Correlation Node Review": "Due to the limited market size, the already scarce liquidity in cryptocurrencies may further flow back," today's market performance also indirectly supports this point; on the other hand, the emotional bull market in A-shares may drive further increases in related concept tokens, facilitating more funds to "join the edges of this feast."

In light of this, this article provides a brief overview of "China concept" related token projects for crypto readers' reference.

CFX: The Most Authentic "China Concept" Token Project

When it comes to CFX, many people are likely familiar with it, but due to its choice of a challenging path—"domestic public chain," the market tends to view its token as a "China concept coin," and some even jokingly refer to it as an "alternative meme coin." During the previous Hong Kong concept coin boom, CFX was also regarded as one of the representative projects by many overseas crypto KOLs.

It is worth mentioning that Conflux officially announced a strategic cooperation with WSPN at the end of September news, and the two parties will jointly issue the first native stablecoin WUSD in the Conflux ecosystem. According to Conflux co-founder Yuanjie’s previous post: "WUSD will be the first stablecoin natively issued on Conflux and will pave the way for CNH and HKD stablecoins. 1. Support CFX/WUSD trading pairs on Cex and withdrawals to Conflux Espace; 2. Support building WUSD liquidity on the DeFi ecosystem on Conflux; 3. Support using WUSD in the Union Card partner payment system."

As of the time of writing, the price of CFX is around $0.185; the 24-hour trading volume is approximately $50.535 million; and the market cap is around $839 million.

CFX Token Information

NEO & ONT: "Public Chain Projects by Chinese Teams"

Once upon a time, Chinese teams made significant contributions in the public chain field, with the NEO project being one of the "star projects" at that time (established in 2014, open-sourced on GitHub in June 2015). ONT is also a public chain project created by the same team. According to information, Ontology was created in 2017 by a Chinese company called OnChain, founded by Erik Zhang and Da HongFei. At that time, NEO was a project with a market cap of several billion dollars.

As is often believed in the traditional entrepreneurial field: new projects from successful teams always attract more attention and funding, and ONT is no exception. Although the subsequent story did not go as hoped, it is still regarded as a public chain project founded by a Chinese team, possessing significant "China concept attributes and genes."

Recently, the ONT project has turned its attention to the decentralized identity (DID) field and announced that a DID hackathon with a prize pool of $70,000 has now begun; in April of this year, it announced the launch of a new fund with a scale of $10 million, distributed in ONT and ONG tokens, aimed at accelerating the adoption, education, and development of decentralized identity (DID) solutions.

As of the time of writing, the price of