Chinese investors are turning away from cryptocurrencies and showing increased interest in the Chinese stock market, particularly following the government's economic stimulus and promise of interest rate cuts.
The recent rise in Chinese stocks has attracted investors who are prioritizing equities over digital assets such as cryptocurrencies.
Some investors are selling off stablecoins like USDT to enter the Chinese stock market.
Although cryptocurrency investments are banned in China, investor interest in digital assets remains high through over-the-counter brokers.