Stablecoin Concept Stocks Surge Amid Market Activity

According to BlockBeats, stablecoin concept stocks continued their upward trend on June 25, with several companies experiencing significant gains by the close of trading. Jingbei Fang (002987.SZ), Cuiwei Shares (603123.SH), and Hailian Jinhui (002537.SZ) all hit their daily limit, with Hailian Jinhui achieving this for the third consecutive day. The previous day saw Dongxin Peace (002017.SZ) and Hailian Jinhui (002537.SZ) also reaching their daily limit. Jincai Interconnect (002530.SZ) hit its limit during the morning session and closed with a 6.46% increase. On June 23, Sifang Jingchuang (300468.SZ) surged by 20%, marking an 82% increase for the month. Additionally, Chutianlong (003040.SZ) saw a monthly rise of over 67%. Other concept stocks such as Youbo Information (300531.SZ), Lakala (300773.SZ), Huafeng Superfiber (300180.SZ), Advanced Digital Communication (300541.SZ), Digital Certification (300579.SZ), and Jingbei Fang (002987.SZ) also recorded substantial gains. Wang Pengbo, chief analyst of the financial industry at Broadcom Consulting, commented on the situation, stating that while stablecoins show certain advantages in specific areas like cross-border payments, they are unlikely to replace existing payment systems. He emphasized that stablecoins serve more as a supplement within the vast landscape of current payment systems. Furthermore, he noted that in the mainland market, stablecoins have limited opportunities due to already low market fees and a well-established, convenient payment system that covers various small, high-frequency scenarios. Legally, the central bank has previously prohibited non-sovereign cryptocurrency payments.