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Chinese investors are increasingly gravitating to the emerging cryptocurrency markets, as investors are seeking to protect their wealth, according to a report from the National Bureau of Statistics (NBS).
In January, the NBS reported that the number of online-only trading platforms had surpassed 2 billion yuan ($33.2 billion).
China is now the largest cryptocurrency market, according the report, and in January, it accounted for about $20 billion in trading volume.
In January 2017, the global cryptocurrency market had a value of around $2.2 trillion, according data compiled by CoinMarketCap.
The figures are based on data from CoinMarketShare.
In the first half of this year, China’s total cryptocurrency market reached $6.3 billion.
China has one of the largest trading platforms in the world, with more than 2.4 billion users.
The NBS data also show that China’s cryptocurrency markets are growing by about 2 percent per month.