According to Tron founder Justin, the market is expected to enter a new bull cycle within the next two years. Speaking at Korea Blockchain Week 2023, Justin Sun expressed optimism for the upcoming bull run. He mentioned that the industry has been going through a deleveraging process over the past year, requiring time to absorb the market shocks caused by liquidity crises triggered by companies like 3AC and FTX. Justin Sun believes that the industry as a whole needs time to rebuild confidence and sustain development.
Justin Sun Appreciates Asia’s Crypto Regulatory Landscape
Addressing crypto regulations at the event in Korea, Sun emphasized that despite strong regulatory measures from western countries like the USA, cryptographic technology remains a global strategic priority that all parties will eventually engage with. He also highlighted that the momentum behind dollar-pegged stablecoins in Asia is expected to remain strong due to the regulatory environment in the region. Moreover, Asian perspectives are poised to regain their central position in mainstream discussions during the emergence of the Web 3.0 era, Sun added.
Hong Kong and Singapore to Revitalize the Global Crypto Industry
Justin Sun also discussed the evolving landscape in the Asian cryptocurrency arena, with a focus on the resurgence of Hong Kong’s importance. Previously, Hong Kong was a favored hub for cryptocurrency exchanges, but strict cryptocurrency policies in China led to the departure of several prominent projects. However, Hong Kong has recently embraced more accommodating policies to revive its appeal to cryptocurrency enterprises. This shift has sparked a competitive spirit that has also motivated Singapore to take action in safeguarding its regional leadership position. According to Justin Sun, the resulting rivalry and collaboration between Hong Kong and Singapore are expected to inject renewed energy into the global cryptocurrency industry, providing a wider range of options and opportunities for investors and entrepreneurs.