<h2>Chinese authorities are still interested in the technology behind cryptocurrencies.</h2>The Chinese Ministry of Science and Technology recently decided to approve the construction of the National Blockchain Technology Innovation Center. The aim of this institute is to study the possibility of using blockchain technology for industrial applications as well as for issues related to the national economy. It will cooperate with national universities as well as other research institutions and enterprises.<h3>China approves the construction of a Blockchain research center</h3>The Ministry of Science and Technology of China has approved the construction of the National Blockchain Technology Innovation Center. Its key goals focus on researching technologies for industrial and economic applications.According to information provided by state media, this entity will cooperate with Chinese universities as well as enterprises and research institutions. This center is to be managed by research and development institutions - Microchip Research Institute and Edge Computing Research Institute.<h4>Negative attitude towards cryptocurrencies</h4>Despite favorable attitude towards Blockchain, China is not enthusiastic about digital currencies. In September 2021, the country banned cryptocurrency trading in its territory. It is worth noting that China has also banned cryptocurrency mining.While the blockchain industry in China has been severely curtailed by the Chinese government, some of China's largest companies are still getting involved and making progress in building products using this technology.The Chinese government is also looking at non-fungible tokens (NFTs) with great interest. For example, in December last year, the Chinese authorities launched their own platform for trading digital collectibles - China Digital Asset Trading Platform.

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<h2>Китайские власти по-прежнему заинтересованы в технологии, лежащей в основе криптовалют.</h2>Министерство науки и техники Китая недавно приняло решение одобрить строительство Национального инновационного центра технологии блокчейн. Целью этого института является изучение возможности использования технологии блокчейн для промышленного применения, а также для решения вопросов, связанных с национальной экономикой. Он будет сотрудничать с национальными университетами, а также другими исследовательскими институтами и предприятиями.<h3>Китай одобрил строительство исследовательского центра блокчейна</h3>Министерство науки и технологий Китая одобрило строительство Национального инновационного центра технологии блокчейн. Его основные цели сосредоточены на исследовании технологий для промышленного и экономического применения.Согласно информации, предоставленной государственными СМИ, эта структура будет сотрудничать с китайскими университетами, а также предприятиями и исследовательскими институтами. Управление центром будет осуществляться научно-исследовательскими институтами - Microchip Research Institute и Edge Computing Research Institute.<h4>Негативное отношение к криптовалютам</h4>Несмотря на благоприятное отношение к блокчейну, Китай без энтузиазма относится к цифровым валютам. В сентябре 2021 года страна запретила торговлю криптовалютами на своей территории. Стоит отметить, что Китай также запретил майнинг криптовалют.Хотя индустрия блокчейна в Китае была серьезно ограничена китайским правительством, некоторые из крупнейших китайских компаний все еще участвуют в ней и добиваются успехов в создании продуктов, использующих эту технологию.Китайское правительство также с большим интересом смотрит на неиграбельные токены (NFT). Например, в декабре прошлого года китайские власти запустили собственную платформу для торговли цифровыми коллекционными товарами - China Digital Asset Trading Platform.

Китай одобрил строительство исследовательского центра блокчейна в Пекине

<h2>Die chinesischen Behörden sind weiterhin an der Technologie hinter den Kryptowährungen interessiert.</h2>Das chinesische Ministerium für Wissenschaft und Technologie hat kürzlich beschlossen, den Bau des Nationalen Innovationszentrums für Blockchain-Technologie zu genehmigen. Ziel dieses Instituts ist es, die Möglichkeiten des Einsatzes der Blockchain-Technologie für industrielle Anwendungen sowie für Fragen im Zusammenhang mit der nationalen Wirtschaft zu untersuchen. Es wird mit nationalen Universitäten sowie mit anderen Forschungseinrichtungen und Unternehmen zusammenarbeiten.<h3>China genehmigt den Bau eines Blockchain-Forschungszentrums</h3>Das chinesische Ministerium für Wissenschaft und Technologie hat den Bau des National Blockchain Technology Innovation Center genehmigt. Dessen Hauptziele konzentrieren sich auf die Erforschung von Technologien für industrielle und wirtschaftliche Anwendungen.Nach Angaben der staatlichen Medien wird diese Einrichtung mit chinesischen Universitäten sowie Unternehmen und Forschungseinrichtungen zusammenarbeiten. Das Zentrum soll von Forschungs- und Entwicklungseinrichtungen - dem Microchip Research Institute und dem Edge Computing Research Institute - geleitet werden.<h4>Negative Haltung gegenüber Kryptowährungen</h4>Trotz der positiven Haltung gegenüber Blockchain ist China nicht begeistert von digitalen Währungen. Im September 2021 verbot das Land den Handel mit Kryptowährungen auf seinem Staatsgebiet. Es ist erwähnenswert, dass China auch das Mining von Kryptowährungen verboten hat.Obwohl die Blockchain-Industrie in China von der chinesischen Regierung stark eingeschränkt wurde, engagieren sich einige der größten Unternehmen Chinas weiterhin und machen Fortschritte bei der Entwicklung von Produkten, die diese Technologie nutzen.Die chinesische Regierung betrachtet auch die nicht-fungiblen Token (NFTs) mit großem Interesse. So haben die chinesischen Behörden im Dezember letzten Jahres ihre eigene Plattform für den Handel mit digitalen Sammlerstücken ins Leben gerufen - die China Digital Asset Trading Platform.

China genehmigt den Bau eines Blockchain-Forschungszentrums in Peking

China approves the construction of a blockchain research center in Beijing

<h2>Considerable interest in non-fungible token technology has led to significant changes in the cryptocurrency sector.</h2>The broadly understood NFT market has been sending us subtle signals for some time that it is periodically trying to recover from the impact of the strong bear market that inevitably reached this sector. It is not difficult to quickly come to the conclusion that the prices of top tokens from key collections are still significantly away from the levels of the glory days, which ended around the first quarter of 2022. Despite this pessimistic fact, a certain change in the balance of power in this innovative sphere can be noticed. It is worth adding that so far, the Ethereum blockchain has been the network where non-fungible tokens were traded most frequently. In the end, however, Ethereum had to hand over the leadership position to its long-time competitor, Bitcoin.<h3>NFT trade is booming, but on a different blockchain</h3>Built, among others, by the popular programmer Vitalik Buterin, the Ethereum blockchain has for a long time been associated primarily with the fact that it is the cyberspace where by far the most non-fungible tokens (NFTs) are minted and where the highest trade rate in terms of turnover volume takes place.Recently, however, a revolutionary change took place, which led to BTC taking first place in terms of volume in the last 7 days.<h4>Latest data from the NFT market</h4>The latest data from the platform analyzing turnover volumes in the NFT sector shows that during the week Ethereum decreased by 3.72%, while tokens minted using the Ordinals protocol in the BTC network contributed to an increase by as much as 22.47 %, which led to this network ranking in first place.Finally, it is worth adding that the weekly volume here reached USD 101.3 million. In the case of the Ethereum protocol, it is USD 95.1 million. In third place, without any surprise, was Solana, which recorded a strong jump of 55% over the last week, and the trading volume of non-fungible tokens amounted to USD 66 million.

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Ethereum is no longer the leader in the NFT market. A surprising change in the balance of power

<h2>A financial company draws a positive forecast for one of the largest cryptocurrency projects</h2>The recent BTC price rally has sparked new enthusiasm in the world of digital currencies, and with it, increased interest in other cryptocurrencies. According to the forecasts of a widely recognized asset management company - VanEck - Solana (SOL) has a good chance of achieving noticeably better results than Ethereum (ETH) by 2024.<h3>Can Solana beat Ethereum?</h3>The spectacular increase in value by as much as 212% in just the last 60 days has resulted in Solana's share on the cryptocurrency market significantly increasing. Digital currency analysts also expect Solana's price oracle platform, Pyth, to likely overtake Chainlink in terms of total value secured (TVS) soon. It is worth adding here that despite Chainlink's current market dominance, analysts deeply believe that the innovative system architecture will make Pyth ultimately defeat its most serious rival.It is worth noting that Solana is currently trading at an average price of $73 per coin, and its price has increased by over 11% in just the last 24 hours. Moreover, there was also an additional increase in 24-hour trading volume to levels exceeding even USD 4.1 billion.Financial firm VanEck additionally forecasts that Ethereum will likely not reach a higher market capitalization than Bitcoin (BTC) until 2024. While Ethereum is likely to outperform other major tech stocks, Bitcoin's regulatory transparency and scale of energy efficiency are widely expected to attract interest from state-owned entities in Asia, Latin America, and the Middle East.Despite Ethereum's very decent results, according to the most common forecasts, it will probably lose market share to other smart contract platforms, such as Solana, whose main competitive advantage is that it can boast a much more reliable scalability schedule. Finally, it is impossible not to mention that Argentina is expected to join the countries sponsoring BTC mining at the state level. This would mean that Argentina would follow in the footsteps of countries such as the United Arab Emirates, El Salvador, Bhutan and Oman.

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Solana will beat Ethereum in some respects by 2024, according to VanEck

<h2>Cryptocurrency investors who expect the sector to decline suffer significant losses.</h2>According to data provided by the popular firm S3 Partners, short-term investors who focus on companies related to the oldest cryptocurrency suffered significant financial losses exceeding $6 billion in total by trying to short BTC in 2023. These losses were caused by a sudden but consistent reversal of the bearish trend on the Bitcoin chart , as well as the oldest cryptocurrency regaining key price levels.<h3>Traders have lost a fortune shorting Bitcoin-related companies</h3>Based on a report published by the analytical company S3 Partners, traders who at the beginning of 2023 adopted a bearish stance towards listed cryptocurrency companies such as Coinbase, Marathon Digital and MicroStrategy recorded losses of $6.05 billion.Due to the long-term increasing value of digital currencies, many investors taking short positions on shares of companies related to the crypto industry have made significant losses.In just the first three quarters of 2023, some short-term investors reduced their exposure to cryptocurrencies as the sector apparently rebounded. However, since Bitcoin's last low of $25.1K in September 2023, there has been a sustained and sharp increase in short selling totaling approximately $697 million as traders dramatically increased their exposure to what they perceived as an "overbought market." .In a sudden turnaround in the stock market, BTC experienced a significant increase in value and reached a new yearly high of over $44,300 on December 5 this year. This unexpected upward rally resulted in approximately $2.65 billion in losses for short-term investors.<h4>Strong increases in the value of BTC-related enterprises</h4>Undoubtedly, this year's increases in share prices of companies such as Coinbase and MicroStrategy may have been a challenge for many traders who were betting on shorting these shares. For the Brian Armstrong-led company, this year's 290% stock rally has resulted in losses estimated at about $3.5 billion for short-term traders. It is worth adding that this currently constitutes more than half of the total losses incurred in this way throughout 2023.Additionally, MicroStrategy's over 300% growth this year contributed to roughly $1.4 billion in losses for cryptocurrency traders. Despite the current strong growth in the market for digital currencies and related companies, some investors still decide to take short positions, most likely hoping that the upward rally will lose momentum at some point.

China approves the construction of a blockchain research center in Beijing

Chinese authorities are still interested in the technology behind cryptocurrencies.

China approves the construction of a Blockchain research center

Negative attitude towards cryptocurrencies

Recent news articles

Ethereum is no longer the leader in the NFT market. A surprising change in the balance of power

Solana will beat Ethereum in some respects by 2024, according to VanEck

Traders shorting Bitcoin are losing billions as the BTC price refuses to fall

China approves the construction of a blockchain research center in Beijing

Chinese authorities are still interested in the technology behind cryptocurrencies.

China approves the construction of a Blockchain research center

Negative attitude towards cryptocurrencies

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Recent news articles

Ethereum is no longer the leader in the NFT market. A surprising change in the balance of power

Solana will beat Ethereum in some respects by 2024, according to VanEck

Traders shorting Bitcoin are losing billions as the BTC price refuses to fall