Data from website traffic metric provider Similarweb shows that Deribit and OKX continue to attract significant traffic sources from China despite a blanket ban on crypto transactions and foreign exchanges last year.
China has banned the use of cryptocurrencies more than a dozen times in the last decade, however, the one imposed in September last year was considered the harshest one.
Several crypto exchanges including Huobi and Binance had shut doors for the Chinese traders in fear of regulatory action. The strict regulatory reforms ensured that Chinese traders mainly shifted their focus to decentralized exchanges and protocols.
Chinese crypto traders have always found a way to bypass strict crypto regulatory measures imposed by the government. While many believed the blanket ban on crypto use would be a