Tron’s creator, Justin, anticipates the market will embrace a fresh bullish phase in the upcoming two years.
While addressing the audience at Korea Blockchain Week 2023, Justin Sun conveyed a hopeful outlook for the next surge in the market. He highlighted that the crypto sphere has been experiencing a phase of deleveraging over the previous year, necessitated by the need to manage market disturbances caused by liquidity issues from firms like 3AC and FTX.
The cryptocurrency magnate feels that, on a broader scale, the sector needs a period to restore trust and continue its growth.
Justin Sun Praises Asia’s Crypto Regulatory Landscape
Discussing cryptocurrency regulations at the Korean event, Sun underscored that despite stringent regulatory actions from Western nations, including the USA, cryptographic technology still stands as a global strategic imperative that everyone will inevitably participate in.
He also pointed out the sustained momentum of dollar-linked stablecoins in Asia, attributing it largely to the region’s regulatory landscape.
Sun anticipates this trend to continue into the dawn of the Web 3.0 epoch. Simultaneously, he believes that Asian viewpoints are set to reclaim their pivotal role in mainstream dialogues.
Hong Kong and Singapore to Invigorate the Global Crypto Industry
At the event, Justin Sun delved into the shifting dynamics in the Asian cryptocurrency domain, especially highlighting the renewed significance of Hong Kong.
Historically, Hong Kong was a preferred center for crypto exchanges. However, China’s rigorous crypto regulations led many significant projects to leave. Despite this, Hong Kong has begun rejuvenating its crypto allure, adopting more welcoming policies to attract cryptocurrency businesses back.
This strategic pivot has awakened a sense of competition, prompting Singapore to fortify its dominant regional status.
Sun believes that the emerging competitive yet collaborative dynamic between Hong Kong and Singapore is set to breathe fresh life into the worldwide crypto sector, presenting a broader spectrum of possibilities for both investors and business pioneers.