Good morning Asia, here's what's making news: 1.ConsenSys cryptoeconomist LexSokolin doesn't see 'a dramatic shift' in crypto markets, at least until inflation wanes. 2. Justin Sun hopes to start a Hong Kong crypto exchange. JPRubin, _franvela write
Is bitcoin fated to the same narrow range they've occupied for much of this year, bobbing and weaving in the low $20,000s?
"I don't see any dramatic shift in market regime," Sokolin, who has contributed columns to CoinDesk, wrote in an email."We still have stubborn inflation and central banks are committed to raising rates until inflation cools further. That means that tech equities and crypto assets will continue trading at suppressed multiples, and the housing market is in danger.
Ether was recently changing hands 15 $1,650, up 2.1% from Tuesday, same time. Sokolin was upbeat about the upcoming Shanghai upgrade's longer-range impact."Withdrawals should significantly derisk staking activity in the Ethereum network," he said."Short-term we may see some investors moving their positions, but longer term I would expect to see a higher portion of Ether staked to secure the network.
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