Don’t avoid Chinese crypto after June 1st. The Asian market has been exploding after the Chinese govt injected $92 billion. And now Hong Kong’s crypto retail investments will shake the market on June 1st.
Smart investors are making their list of Chinese altcoins to buy in June. And I know you do not want to be left out. So I have created my own impressive Chinese tokens list that would benefit the most post-June 1st. Let’s get in!
1) ImmutableX (IMX)
ImmutableX is my first pick for the Chinese Coins that could potentially pump post-June. It’s an old friend and fave of mine. At Altcoin Buzz, we talk a lot about this project.
You must know by now that ImmutableX is big in blockchain gaming. And it has a major Chinese investment in it. Tencent, one of the biggest multinational companies in China invested $244.5 million in ImmutableX.
That means with China lifting the crypto ban, more institutional investors could pour their money into ImmutableX.
But it’s not only the institutions, even retail investors in ImmutableX could be high as recently, the project partnered with Polygon. Combined, both projects invested almost $2 billion in Web3 games. So, ImmutableX is the leading web3 game development platform. On the other hand, Polygon is the current leading protocol for web3 gaming. This must lead to some big news.
Source: Twitter
Another new feature that’s coming up is their Passport. It allows for onboarding through passwordless sign-on. It also has an automated wallet creation. That sounds exciting.
The current price of IMX is $0.74. Out of the 2 billion max token supply, 48% are still locked. On 17 June, we will see another unlock of 0.9%. This could lead to a temporary dump and an opportunity to buy IMX.
2) SandBox (SAND)
Metaverse could be making a major comeback in 2023. So, We are seeing major mainstream players again venturing into the metaverse space. And undoubtedly Sandbox is one of the key players in the space.
In a recent interview, the COO of Sandbox, Sebastian Borget, stated that all land will be sold out by 2026. It will rely on secondary sales and user-generated content for revenue. But, why is he so bullish about Metaverse?
Reason #1 – Sandbox is Building Hong Kong’s Metaverse
Hong Kong University of Science and Technology (HKUST) and Hong Kong Design Institute (HKDI) joined “Sandbox’s Mega City 3”
Source: Twitter
Among the programs being developed are a virtual graduation ceremony for HKDI and various scientific programs and gaming experiences at HKUST. Even PWC Hong Kong is exploring metaverse opportunities via Sandbox.
Reason #2: The Sandbox partnered with BBC Studios.
This joint venture, which includes a BBC events space, is the first time the BBC will have a home in the metaverse. The partnership is starting with the iconic Top Gear and Doctor Who series.
With so many big brands and Hong Kong’s govt entities itself exploring Sandbox, retail investors would swarm to Sandbox as soon as Metaverse makes a big comeback in 2023.
Source: Twitter
Moving on to our next pick any guesses? It is one of the hottest parachain in the Polkadot ecosystem.
3) Phala Network (PHA)
The Phala Network is a Web3 solution for developers’ computing and data storage needs. Plus, it has a focus on privacy. As I’ve mentioned many times on the channel, Web3, and more privacy, decentralized-enabled apps are one of the megatrends for our industry.
Source: Twitter
But, what is the Chinese connection to Phala Network? The project is based out of Hong Kong and Marvin Tong, the project’s co-founder and CEO, has previously worked at Tencent, one of China’s leading technology companies.
Why Phala Network has Such a High Potential?
P2P Computing is already here. But privacy and scale have been missing until now. Phala could fill that gap. It already does for privacy. As winners of the 13th parachain slot, they have over 1600 contributors to the crowdloan. That’s a lot of passionate long-term holders.
Being a native project, Phala could see a huge influx of investors.
4) Conflux Network (CFX)
Last on today’s list is Conflux Network. Many believe this is “The MATIC of China.” Notably, Conflux is China’s only regulatory-compliant public blockchain at this time. Hence, as China embraces crypto, CFX is on track to explode in 2023.
Conflux’s HQ is in Beijing and they are Powering China’s Instagram via NFTs. On Jan 1st, 2023, Conflux announced integration with Little Red Book, China’s version of Instagram. The integration allowed Little Red Book’s 200 million users to be able to display non-fungible tokens (NFT) minted on Conflux on their profile page.
Source: Twitter
Also very recently Conflux launched Blockchain sim card in partnership with China Telecom which has 400M users. So 2023 seems to be a year for Conflux.
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