- China to vet offshore tokens’ issuance backed by Chinese onshore assets.
- The crypto market recovered 1.65% in its collective market cap.
- Gold recorded gains on Monday.
The outlook of China towards RWA business has shifted a little, triggering optimism that the Asian country may eventually change its stand altogether. The crypto market has responded with little to no changes, even though there were fluctuations over the weekend. Gains in Gold could be another possible factor influencing prices in the crypto market.
China on RWA Business
Regulators in China have said that they would vet offshore tokens’ issuance backed by Chinese onshore assets, as reported by Reuters. This is in contrast to its earlier comment which specifically stated that RWA businesses would not be allowed on the mainland. Experts have noted this as a milestone that could have a far-reaching impact.
Experts believe that the move could begin a race for compliance for the sector, adding that investment banks with blockchain technology could have more business.
Effects, so far, are reflected in the price uptick of stocks of RWA-related ventures. GCL Energy Technology, for instance, jumped by almost 7%. Others include Tansun Technology, Longshine Technology, and Yusys Technologies.
Crypto Market Over the Weekend
The crypto market fluctuated over the weekend, but prices remained more or less the same. BTC is back to around $70,948.82, and ETH is listed at $2,090.14 when the article is being written. The lowest that bitcoin went was approximately $67,794.37 on Saturday. It has been moving between $68k and $71k since then.
Overall, sentiments are tilting towards fear, as is evident from the FGI of 9 points. The collective market cap of 2.41 trillion is a recovery of 1.65% at the moment. XRP gains come to around 0.84% during the same timeline.
Gains in Gold
Gold recorded a 4% gain on Friday and added 1% to it on Monday. It was last seen trading at $5,026.04 per ounce, up by 1.3%. This comes days before the critical rollout of the US employment data. Notably, it also comes after the US Dollar reached its lowest on Friday. Nevertheless, Gold making gains has attracted attention back to the precious metal.
There is still uncertainty over cuts despite a few voices favoring at least one reduction in 2026. In fact, the closest cut of 25 bps is speculated to happen in June 2026. The global crypto market, therefore, continues to stay close to being monitored as Gold prices move, rate cuts gain clarity, and countries make progress in the sector.
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