Hong Kong concept leads the way, East Encryption attracts Western attention?

Months after the embrace of Web3 was announced in Hong Kong, the mood is once again on the eastern plate. Last week, there was an online rumor that "it will be completely legal for Hong Kong residents to freely trade cryptocurrency on June 1st this year". After consulting relevant people of BlockBeats, the licensing system of virtual asset service in Hong Kong, originally scheduled to be implemented on March 1st 2023, will be implemented in June instead. The final document and rules have yet to be officially released. "Crypto Staking staking on Hong Kong's staking as an Asian encryption hub" is staking a staking claim. SEC staking and BUSD are staking a staking staking staking.

At the same time, Conflux Network, as the leading public chain in the government cooperation sector, started to point the shot. Its official Twitter announced that it had reached A cooperation with China Telecom and planned to launch the first BSIM(block chain SIM card) pilot project in Hong Kong later this year. Thereafter, CFX resonated with A-share China Telecom continuously. CFX four times five days, China Telecom (AI computing power concept) hit the daily limit twice in three trading days.

Slightly more than expected, a large number of Western Kols participated in the discussion of the concept of Hong Kong, in other words, this direction is not a local market, but may be the joint choice of the whole market funds. The following BlockBeats will give a brief introduction to the logical ICONS within the board.

CFX (Conflux) (300%, 5d)

Conflux, currently the leading concept in Hong Kong, is the most popular Oriental Crypto project. The founding team of Yao Class of Tsinghua University was invested by Sequoia in its early years with a luxurious background. In the years since its establishment, Conflux has not followed the "mainstream" moneymaking effect of various stages like many projects, but has taken root in the mainland, with cooperation mostly between universities and official institutions. And is committed to creating practical blockchain technology examples (collaborating with XiaoHongshu on the NFT display function).

After the big run in 2021, CFX has fallen through the cracks due to a prolonged lack of heat, but it has quadrupled to a market value of $460 million.

FIL (Filecoin) (75%, 5d)

Filecoin, once the storage track brother, Sequoia, YC, DCG endorsement of the king of the project, the earliest encryption market IPFS promoter, laid a block chain storage block leader. Due to the involvement of Chinese mining machine players and a series of complex reasons, the project chips completely go bad, become the market abandoned child, the main holder for the mainland retail investors.

It may seem absurd to classify Filecoin as a "Hong Kong concept", but the other way around is quite magical. The $3.3 billion market cap and the tricky chip structure are the points to consider when looking at this target.

ACH (Alchemy Pay) (60%, 5d)

Founded in 2018, Alchemy Pay is one of the earliest legal payment integration service providers in the crypto industry. Headquartered in Singapore, the core members have more than 10 years of working experience in payment, Internet, telecom and other related industries. Alchemy Pay (ACH) described itself in an early white paper as the "Ant Group" of the blockchain industry.

ACH has a market capitalization of $140 million and plans to receive a Hong Kong MSO license in the first quarter of this year.

KEY (SelfKey) (150%, 5d)

SelfKey, a personal identity authentication platform based on blockchain, Hong Kong team, with a small market value of $60 million and ZK-KYC track, is the only child in the hot concept segmentation field. Currently, it only has BUSD transaction pairs and Buff stack, which is self-evident.

Hong Kong concept dark horse target, not much information, the market performance is strong.

COCOS (Coscos-BCX) (210%, 5d)

Coscos-BCX, the earliest project can be traced back to 2018, the current positioning of GameFi Service Provider, recently with the concept of the trend of rapid force, the current market value of $170 million, Hong Kong concept in the rare GameFi target, but also one of the emotional points of the plate.

HIGH (Highstreet) (44%, 5d)

Highstreet, the Metaverse of VR digital business center, hopes to re-imagine e-commerce and retail in the era of Metaverse and Web3, providing users with a subversive experience of metaverse shopping. The project is the 28th to launch at Binance Launchpool, which offers 1,000,000 HIGH devices to customers, or 1% of the total supply.

HIGH has previously doubled as a leader when cz called single "metaverse", a round in which historical voting benefits from plate divergence.

The divergence of market logic

When the market of Hong Kong concept started, some people said that Conflux represented public chain, Alchemy Pay represented gold, and SelfKey was legal KYC, which was the troika. Some people say that the concept of Hong Kong reminds people of the grand speculation of Chinese projects in the past, and then start to imagine a round of VET, QKC, NEO old demon coming out of the mountain; There are a large number of overseas Kols competing to discuss the fundamental logic of Hong Kong, among which there are many people who understand the situation to "Ponzi" warning.

The money-making effect of the market always diverges in all directions of correlation, but eventually moves in the direction of the hardest logic. Let the market give the answer.

Welcome to the official community of BlockBeats

Telegram subscription group:https://t.me/theblockbeats

Telegram communication group:https://t.me/theblockbeatsApp

Discord:https://discord.gg/Q8wuCmzKNk

Welcome to join the official BlockBeats community:

Telegram Subscription Group: https://t.me/theblockbeats

Telegram Discussion Group: https://t.me/BlockBeats_App

Official Twitter Account: https://twitter.com/BlockBeatsAsia