There’s an interesting development unfolding in the Chinese cryptocurrency market this week. US and Chinese authorities are set to meet over the weekend for trade negotiations, and this is generating a lot of speculation among traders.

You’ve probably seen that Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer will meet with Chinese officials in Switzerland. Don’t expect a mega deal to come out of it, but it’s a significant move given all the tariffs that Trump has imposed.

Specifically when it comes to Chinese cryptocurrencies, people are watching how this could impact projects like Tron, NEO, VeChain, and Conflux. According to the latest data, TRX has fallen 0.64%, NEO is down 4.22%, VET has dropped 4.11%, and CFX has seen a much larger decline of 13.41% over the past 24 hours. OKB has also retreated by 1.52%. These moves reflect the volatility that typically comes with geopolitical news.

What stands out most is that these Chinese cryptocurrencies have historically been correlated with sentiment about US-China trade relations. When there’s hope for negotiations, interest rises. NEO is practically China’s Ethereum, and Tron is known for its speed and low fees.

Now here’s the interesting part: while the US dominates Bitcoin mining in terms of hashrate, China is still the major exporter of ASIC miners. Even with the official ban, recent estimates suggest that around 21% of global hash power still comes from operations in China—likely in regions such as Inner Mongolia, where there is cheap renewable energy.

This fuels a great deal of speculation about an underground crypto economy in China. If negotiations move forward and the environment improves, China may be encouraged to normalize its position in the crypto market, which would have enormous implications for the price of Bitcoin and for BTC mining overall.

Traders are monitoring these Chinese cryptocurrencies as a thermometer for what may come next. If you’re keeping up with the market, it’s worth keeping these assets on your radar over the next few days.