The acquisition of Celcius assets and a future return to China following the global crackdown on the cryptocurrency sector were two topics covered in the most recent Bloomberg interview between Emily Chang and Justin Sun, CEO of Tron (1). Given the status of most assets, which have reached their bottoms due to unfavorable market circumstances and the tightening of American monetary policy, Sun claims that now is one of the ideal times to get back into the cryptocurrency market.
China's relation with Crypto
China's complex interaction with cryptocurrency Despite being "anti-Bitcoin" and "anti-mining," Sun thinks China will become kinder to cryptocurrencies. The co-founder of Tron, however, thinks that the negative perception of cryptocurrencies should be lessened before Central Bank Digital Currencies are introduced. However, most proponents of cryptocurrencies and decentralization do not think CBDC will be secure to use. They predict that nations like China would only utilize it as a substitute for conventional digital currencies. Joining Huobi Justin Sun said last week that he will be joining the advisory board of one of the largest centralized exchanges in the world.
What does the future hold for Tron?
The ambassador intended to advance the Huobi Token (2). He previously disclosed that he has been actively acquiring Huobi's utility token since its inception and that it makes up a sizable portion of his portfolio. A big 100% rally on HT was sparked by these two pieces of news and more buying, and it hit a local high of $8. Active profit-taking resulted in a 10% pullback, but the reversal's nature is strictly technical, and it is still unclear if the rise on HT is complete or not. At the time of publication, HT is trading at $7.3, with a slight 0.6% price change over the previous day.