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Good Morning, Asia. Here’s what’s making news in the markets:Welcome to Asia Morning Briefing, a daily summary of top stories during U.S. hours and an overview of market moves and analysis. For a detailed overview of U.S. markets, see CoinDesk’s Crypto Daybook Americas.Chronicle, the oracle infrastructure provider powering secure, scalable onchain financial data, has been named the exclusive partner to Grove Protocol, an institutional-grade credit platform with a $1 billion tokenized asset allocation strategy.Grove, part of the Sky ecosystem known as a ‘Star’, the name Sky uses for units in its network, launched in June with a $1 billion allocation…
Shaurya is the Co-Leader of the CoinDesk tokens and data team in Asia with a focus on crypto derivatives, DeFi, market microstructure, and protocol analysis.Shaurya holds over $1,000 in BTC, ETH, SOL, AVAX, SUSHI, CRV, NEAR, YFI, YFII, SHIB, DOGE, USDT, USDC, BNB, MANA, MLN, LINK, XMR, ALGO, VET, CAKE, AAVE, COMP, ROOK, TRX, SNX, RUNE, FTM, ZIL, KSM, ENJ, CKB, JOE, GHST, PERP, BTRFLY, OHM, BANANA, ROME, BURGER, SPIRIT, and ORCA.He provides over $1,000 to liquidity pools on Compound, Curve, SushiSwap, PancakeSwap, BurgerSwap, Orca, AnySwap, SpiritSwap, Rook Protocol, Yearn Finance, Synthetix, Harvest, Redacted Cartel, OlympusDAO, Rome, Trader Joe, and…
As of the time of writing, according to CoinDesk Data, BTC was trading at around $113,648, down 1.4% in the past 24 hours. ETH, XRP, SOL and DOGE posted steeper declines, with ETH down 3.7% to $3,503, XRP off 1.5% at $2.94, SOL down 2.7% at $164.13 and DOGE dropping 3.7% to $0.1993. The downturn followed a string of economic and geopolitical shocks on Friday that rattled investor sentiment across both equity and digital asset markets.U.S. stocks also closed sharply lower on Friday, with the Dow down 1.23%, the S&P 500 off 1.6%, and the Nasdaq Composite plunging 2.24% as…
Cryptocurrency-friendly lender Standard Chartered is claiming bragging rights of being the first global bank to offer spot trading in bitcoin and ether (ETH) to institutional clients.The offering, rolled out through the bank’s UK branches, is available initially via our U.K. entity, during Asia and Europe trading hours, with 24/5 access under consideration as client demand evolves, said Rene Michau, global head of digital assets.“Standard Chartered is the first global systemically important bank to be offering cryptoasset trading.” Michau said in an email. “We define institutional clients as financial institutions such as asset managers and investors, and large multinational companies who…
Ethereum’s ether (ETH), the second largest crypto asset, is seeing renewed investor interest, with spot exchange-traded funds (ETFs) in the U.S. recording one of their strongest streak of momentum of their one-year history.On Thursday, BlackRock’s iShares Ethereum Trust (ETHA) booked its largest daily inflow to date, with over $300 million, pushing its total assets under management to $5.6 billion, data compiled by Farside Investors show.That’s part of a broader resurgence in ether-backed investment products. The nine U.S.-listed ETH ETFs attracted a combined $703 million in net inflows this week, according to crypto data provider SoSoValue. Although Friday’s data is still…
Filecoin posted solid gains during the last 24 hours, rising as much as 4%, a move that reflects heightened institutional interest, according to CoinDesk Research’s technical analysis model.FIL showed heavy trading volume during the period, with transactions reaching 2.65 million tokens, significantly exceeding the usual 24-hour average of 1.89 million, the model showed.Market data indicates a sustained upward trajectory from overnight lows, with resistance establishing near the $2.38 level, while maintaining support above $2.33 throughout the session.The rally in Filecoin came as the wider crypto market also rose, with the broader market gauge, the Coindesk 20, recently up 2.7%.In recent…
Hong Kong’s stablecoin licensing regime, set to begin on August 1, is drawing significant interest from the region’s financial and tech heavyweights, with local media in China reporting that over 40 applications have been received.But expectations are being tempered by the reality that the Hong Kong Monetary Authority (HKMA) is likely to approve only a single-digit number of licenses, according to reports, making this one of the most competitive regulatory races in the city’s digital finance history.Despite the rush of interest, only three firms have been admitted to the HKMA’s stablecoin sandbox so far, including a joint venture between Standard…
Pepe , the world’s third-largest stablecoin by market value, has failed to keep gains above the 100-day simple moving average (SMA) amid continued distribution or selling by holders.The cryptocurrency briefly topped the 100-day SMA at $0.00001009 early Monday before reversing the spike to trade 1% lower at $0.00000992 as of writing, according to CoinDesk data.Volume patterns suggest distribution rather than accumulation, with four distinct high-volume selling periods creating a descending resistance trendline. This follows significant transfers of coins to exchanges, hinting at potential liquidation by large traders. Recently, whale transfers included the movement of 500 billion PEPE, worth $3.85 million,…
Shaurya is the Co-Leader of the CoinDesk tokens and data team in Asia with a focus on crypto derivatives, DeFi, market microstructure, and protocol analysis.Shaurya holds over $1,000 in BTC, ETH, SOL, AVAX, SUSHI, CRV, NEAR, YFI, YFII, SHIB, DOGE, USDT, USDC, BNB, MANA, MLN, LINK, XMR, ALGO, VET, CAKE, AAVE, COMP, ROOK, TRX, SNX, RUNE, FTM, ZIL, KSM, ENJ, CKB, JOE, GHST, PERP, BTRFLY, OHM, BANANA, ROME, BURGER, SPIRIT, and ORCA.He provides over $1,000 to liquidity pools on Compound, Curve, SushiSwap, PancakeSwap, BurgerSwap, Orca, AnySwap, SpiritSwap, Rook Protocol, Yearn Finance, Synthetix, Harvest, Redacted Cartel, OlympusDAO, Rome, Trader Joe, and…