Although Alibaba has been trying to embrace crypto, they can't do it at all, because they are in China, so they have to be cautious. They give up all attempts at crypto, only develop blockchain technology, just blockchain,no crypto.
Therefore, we should not overestimate this. This has nothing to do with crypto. It does not have any positive impact on the crypto market.
Alibaba is very keen to see opportunities to improve the competitiveness of their businesses. Blockchain that is proven to be very supportive is increasingly being developed by Alibaba to control the items they send to the entire world to get to consumers well and on time. Because e-commerce business is strongly influenced by the accuracy of the delivery of goods.