China Injects $19 Billion to Bail Out Evergrande, Here's How Crypto Market Can Benefit

The Chinese Real Estate giant Evergrande has defaulted on its debt payment and the fear of the company’s payment default has led to a collectible slump in the financial market world over. Many believe the crypto market’s downturn over the past week was also influenced by the same as investors rushed to liquidate their crypto funds. However, the Chinese Central Bank has injected 120 billion Yuan nearly $19 billion into the banking system in hopes of bailing out Evergrande.