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You wouldn’t be fooled into thinking that the start of 2023 was going to be a continuation of what we saw at the tail end of 2022. Recently however there appears to be many signs indicating that <a href="https://chaindebrief.com/how-china-will-trigger-the-next-crypto-bull-run/" rel="noopener noreferrer nofollow">China and various other countries</a> in Asia might be kickstarting the next ‘up only’ period of the market.With the US Federal government in full litigation mode after setting their sights on<a href="https://www.cnbc.com/2023/02/20/how-the-sec-and-paxos-busd-fight-could-impact-the-stablecoin-market.html" rel="noopener noreferrer nofollow"> $BUSD</a>, there&#39;s no wonder the crypto market is looking for a new narrative. Narrative trends seem to be very strong dictators in the market. We saw <a href="https://bitcoinist.com/is-the-price-surge-of-ai-coins-a-sign-of-the-next-crypto-bull/" rel="noopener noreferrer nofollow">AI take off</a> at the start of the year fuelled by ChatGPT’s release and now it seems Asia and more specifically <a href="https://u.today/chinese-coins-narrative-gains-steam-check-out-these-altcoins" rel="noopener noreferrer nofollow">China are leading the narrative charge</a> across social media. China’s crypto history Even though China and Asia have a long history and possess a huge market share within crypto, the CCP’s official stance is that crypto currencies are wholly banned. They state that the ban was to “curtail financial crime and prevent economic instability” and that the “highly speculative nature of crypto poses risk to China’s financial system”. The WEF is currently suggesting however that any regulation is just attempts from China to save <a href="https://www.weforum.org/agenda/2022/01/what-s-behind-china-s-cryptocurrency-ban/" rel="noopener noreferrer nofollow">capital leaving their economy</a>. Chinese Coins Pump Since late January there has been a growing narrative trend in crypto which points to China and Asia potentially kick-starting the next bull run. Fuelled by the very real possibility of regime change certain historic ‘O.G’ Chinese projects such as $NEO, $VET, $FIL and $CFX have all seen double-digit pumps in 2023 with the ‘Polygon of China’ $CFX reporting over 1000% gains since the start of February alone. Conflux - #CFX is a shining example of China’s potential move to opening up blockchain technology to its citizens. CFX is a regulatory-compliant public chain who with the help of China Telecom’ have now rolled out new blockchain SIM cards. It’s no surprise that after this news, the CFX ecosystem also saw systemic <a href="https://www.coingecko.com/en/coins/conflux" rel="noopener noreferrer nofollow">gains up to 4500%</a> on it’s western-ALT and DeFi counterparts like $NUT, $PPI, $GOL and $CFXINU.Why is this happening now? The latest run looks to have been sparked by <a href="https://www.bloomberg.com/news/articles/2023-02-17/pboc-boosts-short-term-cash-injection-to-record-high" rel="noopener noreferrer nofollow">massive liquidity injections</a> made by People&#39;s Bank of China which has then coincided with the upsurge in crypto markets. The most recent catalyst appears to be the announcement of the licensing regime for virtual assets in <a href="https://www.bloomberg.com/news/articles/2023-02-21/hong-kong-s-crypto-hub-ambitions-win-quiet-backing-from-beijing" rel="noopener noreferrer nofollow">Hong Kong</a>, a subtle nod from Beijing that the tide may be turning on full-regulation for the rest of China. China isn’t the only Asian country to focus on blockchain, recent moves from regional crypto powerhouses such as Korea and Japan have shown that, especially in Asia, there remains a positive growing sentiment with Japan flinging open the doors to web3 and crypto kickstarted with the resurrection and <a href="https://www.coindesk.com/consensus-magazine/2023/01/26/japan-embracing-crypto-industry-web3-dao-nft/" rel="noopener noreferrer nofollow">reopening of FTX Japan</a>. Amongst the North and South East Asian regions, crypto popularity remains very strong especially in regulated asiatic countries like Indonesia and Thailand. Looking forwards A major shift in crypto policy from a world leader during times when the USA and the West appear to be tightening restrictions could potentially be a recipe for an Asiatic-led bull run in 2023. <a href="https://coinpedia.org/news/top-crypto-expert-ben-armstrong-explains-the-dangers-of-china-crypto-narratives/" rel="noopener noreferrer nofollow">However some crypto pundits</a> are suggesting that the US and the Fed just need to ‘get their ducks in a line’ in regards to crypto regulations and we could see the West’s view of the market start to change. There&#39;s no hiding that all eyes are pinned on what the US will do at the next CPI and FOMC events. If we start to see inflation drastically reducing and the US government taking aim at sensible and sustainable crypto regulation that could then level the playing field in regards to when/where the next bull-run focuses its attention. Make sure to stay tuned for all of OpenOceans exciting developments!<ul><li>Twitter: <a href="twitter.com/openoceanglobal" rel="noopener noreferrer nofollow">https://twitter.com/OpenOceanGlobal</a></li><li>Website: <a href="openocean.finance" rel="noopener noreferrer nofollow">https://openocean.finance</a></li><li>Telegram Announcements: <a href="https://t.me/OOFinance" rel="noopener noreferrer nofollow">https://t.me/OOFinance</a></li><li>Medium: <a href="https://medium.com/&#64;openoceanfinance" rel="noopener noreferrer nofollow">https://medium.com/&#64;openoceanfinance</a></li></ul>OpenOcean is the widest reaching DEX Aggregator and Web 3 middleware developer in the crypto space. Offering a suite of tools across 19 networks and 260&#43; unique sources of liquidity, OpenOcean is building tools for now and for the future. Experience what it’s like to trade with ease, the way that YOU want to with #OpenOcean.

Asia and China are waking up: Is this pump time for the crypto market?

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