Crypto investor Lark Davis of CoinEdition

• Lark Davis believes China’s liquidity pump in 2023 has not been priced in.
• Cryptocurrency is up 25% in just 3 days.
• Experts believe the rally has China’s involvement as the country moves toward better crypto laws.

Cryptocurrency investor Lark Davis tweeted, “2023’s China liquidity pump is not priced in IMO!,” regarding EOS’ 25% rally in just three days.

2023’s China liquidity pump is not priced in IMO! #bitcoin #crypto #stocks

— Lark Davis (@TheCryptoLark) February 20, 2023

While EOS struggled to break past the early 2023 resistance area, recent information suggests that China is involved in EOS’s rally. On January 31, Davis noted that instead of pursuing a heavy-handed ban policy against crypto, China decided to tax it by 20%.

Therefore, a strong increase in liquidity is expected from China, with EOS expected to absorb a prominent share. Furthermore, according to a ranking conducted by the Center for Information and Industry Development of China, Chinese traders preferred EOS over other coins.

In addition, the price rose last week to a new annual high of $25,100 as more than $100 billion entered the market. According to reliable sources, the majority of recent buying activity took place around the same time Coinbase (NASDAQ: ) CEO Brian Armstrong tweeted the announcement of the start of widespread cryptocurrency trading in Hong Kong.

While Armstrong’s tweet was undoubtedly not the catalyst for the market’s growth, it lends credence to the broader story that Asian nations are beginning to view cryptocurrencies more favorably.

Experts remind that although Hong Kong will start issuing cryptocurrency licenses to authorized institutional investors on June 1, cryptocurrency trading for ordinary Hong Kong residents is still out of the question.

In an effort to boost the country’s slowing economic activity in the wake of the strict “zero Covid-19” policy, China’s central bank also injected around $90 billion in new capital into domestic markets at the same time that money started flowing into cryptocurrencies.

On February 15, Hong Kong-based crypto company Conflux (CFX) announced that it is launching a blockchain-based mobile SIM card in partnership with China Telcom. Since then, Conflux’s CFX token has experienced a 677% increase in the past month.

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