Female Chinese Influencers Send Cryptocoin That Allows them to Earn On Trendy App 500% Higher In Week

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Last Updated on 6 November 2023 by CryptoTips.eu

American politicians, and certainly those on the Republican side, probably won’t like to hear it, but just as Japanese girls defined what was fashionable in the West in the 80s and 90s, it’s usually Chinese girls who will determine which apps will define this decade.

There are 700 million Chinese youth on social media, and the 200 million female members of this group who live in the cities pretty much determine what is bought and trendy in Asia, the continent where most of the world’s population resides.

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Conflux

Xi Jinping, the leader of China, decided in the beginning of January to ditch his Covid-19 rules and allow everyone to travel. He may also have decided that maybe crypto isn’t so bad. Although trading in Bitcoin (and other cryptocoins) is officially banned in China, there is one small coin that is making quite a splash in Beijing.

Conflux, the small digital currency from China that recently signed a cooperation agreement with China Telecom (390 million customers) and, more importantly, with Little Red Book (the Chinese version of Instagram), is doing well and grew by no less than 500% in one week time.

Little Red Book

The Little Red Book became known through Mao Tse-Tong, the Chinese leader in the 1960s and 1970s who wrote down his ideas on communism in it. At that time, everyone who was a member of the Communist Party (aka everyone in mainland China) had to carry the book with them at all times.

In the 2020s, Little Red Book is the name of the Asian version of the Instagram App in the west. It shows mostly photos of influencers discussing stores and products.

The app’s target audience is women between the ages of 18 and 35. According to user data, more than 65% of visitors are indeed women, 70% of them were born after 1990 and influencers can earn money by promoting products on the app.

Oh and since about two weeks, those same influencers can also sell their own photos as an NFT on the blockchain network of… you guessed it… Conflux. With 700 million potential customers for Conflux, that is a gigantic market (if Beijing allows the cryptocurrency, of course). As a result of all this, Conflux entered CoinMarketCap’s top 100 yesterday.

Where is this going to end? No idea, but watch out for volatility if Beijing does step in.