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Hong Kong's Crypto Volume Rivals Mainland China's Despite Population Disparity

Hong Kong has become an active crypto market, with recent crypto volume transferred to the region rivalling that of mainland China, despite hosting only 0.5% of China's population. This trend may signal that the Chinese government is becoming more open to crypto initiatives. While most crypto activity in China still stems from centralized exchanges, the majority of Hong Kong's activity is connected to DeFi. Eastern Asia accounted for 8.8% of global crypto activity during the analyzed period.

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