The exchange rate at the beginning of the year was still hovering around 7.35, but now it has surged to 6.93! If you held 1 million USDT at the start of the year, it seems the number hasn't changed, but in fact, the RMB you can exchange has shrunk by 420,000! Under this wave of "exchange rate scythe," even stablecoins have become "wealth crushers."

Why did the RMB suddenly strengthen? The US dollar index has fallen over 3% in two months, and non-US currencies are celebrating collectively; at the end of the year, a surge in enterprise foreign exchange settlements, coupled with China's trade surplus breaking 1 trillion yuan, has made foreign exchange reserves a solid "safety cushion," providing strong confidence to stabilize the exchange rate. But don't rush to celebrate— the central bank has continuously fine-tuned the midpoint rate, warning against rapid appreciation impacting exports. The 6.9-7.3 range may become the main fluctuation zone next year.
How should crypto players respond? In the short term, RMB appreciation may suppress risk assets, but RWA grew 185% annually, and Layer1 public chains soared against the trend, so structural opportunities still exist. In the long term, keep a close eye on policy signals; if the central bank activates counter-cyclical tools, adjust your holdings accordingly and in a timely manner.
The Christmas bells have already rung—are you going to continue riding the waves or quietly watch the splashes? Like and share, let's navigate this exchange rate storm together! $SOL $XRP $BNB