The state of the blockchain space in November shows long-running trends establishing themselves. Bitcoin (BTC) was still the leader in multiple metrics, and China was the focus as activity flowed to local markets, shows the latest Longhash report.


China Emerges as Leader in Trading Activity

November’s Blockchain Data Report focused on China, basing its conclusions on patent activity as well as exchange statistics. The booming economy of China has been significantly influential in the crypto world, though the effects have been veiled and poorly understood, pointed out the report.

One of the key findings established a correlation between crypto prices and Chinese stock market valuations. Bitcoin (BTC) and crypto-assets did not track the US market sentiment, but adhered to the moves of China’s A-Shares market.

China, however, lags behind the US in terms of blockchain startups and patents with 4,201 patents filed, but stays ahead of Europe, Longhash concluded. In China, Shenzhen emerged as the blockchain hub in the Guangdong…

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Source: https://thebitcoinnews.com/bitcoin-still-king-china-sways-crypto-prices/