‘The Withdrawal of Sanctions’, China-related Stock Price Soars, Davinci Coin will be the next Beneficiary.
Korean-Chinese trades are starting to revitalize as China slowly withdrew the sanctions on the Korean industry. This is the first time that Korea-related business is opening throughout all parts of China since 2017 when China banned Korea package tour business in the country. Starting with a permit to sell Korea Tour package products in China, it indicates that the Chinese government has officially approved the cooperative relationship between the two countries.
Accordingly, China-related stocks in Korea have soared in the morning on the 30th. Moreover, Davinci Coin(DAC), a cryptocurrency as a joint project of Korea-China, ranks fourth in the increase rate in Huobi Global which is China’s Cryptocurrency Exchange. Also, DAC reached no.1 in the transaction amount in Korea’s Cryptocurrency Exchange Bithumb, raising attention among investors. With perpetual growth since the beginning of this year, DAC is gaining substantial benefits over the last 24 hours with 100 percent of stock rise after the Chinese government withdraws the Korean sanctions.
On June 30th at 5 pm (6pm Korean Time), DAC is expecting an additional IPO on Huobi Global’s Tether Market (USDT), one of the leading Cryptocurrency Exchanges in China. It is worth noting that DAC already has IPO on Bitcoin (BTC) market and Ether (ETH) market at Huobi Global, but the upcoming IPO on Tether Market is known to be ten times larger in scale than BTC and ETH market.
Meanwhile, as Korea-China’s economic transactions have been restricted due to Chinese sanctions toward Korea in the past, Davinci Foundation is aiming to create an economic ecosystem in not only Korea and China, but also throughout East Asia, with the establishment of a joint foundation in which economical, cultural, ICT experts from both countries participated, with an objective to come up with a solution in a more private level.