Although Bitcoin’s sharp rises still do not bring the desired movements in most of the altcoins, it is seen that some tokens occasionally diverge from the market. NEO, known as “China’s Ethereum” and especially the rises in the 2017 bull season are still in the memory, also showed a similar rise yesterday.

NEO, which increased by nearly 50%, rose above $22. This level was last seen in April 2022. So NEO said “I’m here” again after about 2 years. NEO, which saw $200 in 2017, rose to $120 in 2021, but fell to $10 in the following bear season.

Vechain also began to rise

In the 2021 bull season, Vechain, one of the coins that have risen sharply, was also on the rise after the Chinese news. However, this increase was much more limited than NEO. VET, which was traded at $0.040, also rose above 0.047. However, with Bitcoin dropping below $71,000 again, VET also went down. Vechain was founded in 2015 by Sunny Lu, the director of the Chinese subsidiary of the world-famous luxury brand Louis Vuitton.

As it will be remembered, yesterday, Chinese media stated that the country’s major fund companies have applied for a Bitcoin spot ETF in Hong Kong. After the news spread, Bitcoin rose from $69,000 to over $72,000 in a short time.

China completely banned all activities related to cryptocurrencies in 2021, but it is also known that the country wants to somehow stay connected to the crypto world through Hong Kong.