Just as Bitcoin was blasting higher, the coin just added another engine- it seems like Chinese investors may have tools to return to the game, after exchanges closed on government bans, barely working through all of October.
ZB.Com is one of the early bird platforms, still small and comes with warnings of glitches. It is still unknown what trading volumes it would offer. A few days ago, OKEx also announced it would work on a solution to renew its platform.
The Chinese interest in cryptocurrencies has not stopper, it is only looking for new outlets. The boost comes at a time when Bitcoin went as high as $7,300 through increased buying. This time, Bitcoin received a boost from Korean exchanges, where it traded at a premium, reaching the equivalent price of $7,455.69 in the trading pair against the Korean Won.
It is unknown whether Chinese interest would boost altcoins or also flow into the buying spree of Bitcoin ahead of the SegWit2X hard fork.
OKEx has revealed it plans to release futures trading for Ethereum, Ethereum Classic and Bitcoin Cash. The trading platform also announced it would change the fee structure for opening positions in Bitcoin and Litecoin. Traders would be charged 0.015% both for closing and opening a position.
Another leading exchange, Huobi, has also found ways to exist outside mainland China, and is thriving, adding new trading pairs from November. But currently, the exchange only works for swapping between coins, as the trading of cryptocurrencies for the Chinese Yuan has been down to zero.
Chinese exchanges may need to improve buyer screening procedures before allowing users to purchase cryptocoins with cash. Until recently, Chinese exchanges had a rather liberal policy, which led to cash inflows lifting Bitcoin's price.