Good morning, Asia. Here’s what makes news in the markets:
Welcome to Asia Morning Briefing, a daily overview of top stories during the US HOURS and an overview of market movements and analysis. For a detailed overview of US markets, see Coindesk’s Crypto Doybook Americas.
While dealers fixed on Jerome Powell’s latest SATS signals, the more consistent story may be playing out in stablecoins.
The sector has almost doubled in one year to $ 280 billion, with most issuers having short -term treasuries as security. It binds crypto -liquidity more directly to Federal Reserve policy than ever before, according to OKX Singapore CEO Gracie Lin.
“While markets are still digesting Powell’s latest comments on prices, a more consistent long -term shift is happening beyond the charts and headlines. It is in the so -called ‘boring’ stablecoins that we see better long -term price signals,” Lin Coindesk said in a note.
“The next step is association – StableCeCoins have built the rails, now they need a unified market that delivers liquidity, efficiency and real benefit to investors,” Lin continued.
Coinbase -Analysts project that the market could hike to $ 1.2 trillion by 2028, forcing $ 5.3 billion of new state acquisitions every week. The influx may marginally lower yields, but the risk runs the other way around: Redemption increases can trigger forced sale of bills, drainage of liquidity.
The debate continued in a recent episode of Goldman Sachs’ Exchanges Podcast, with UC Berkeley’s Barry Eichengen Green warning that stableecoins could repeat the money market fund Panic in 2008.
“When a dollar money market money fell to 97 cents in 2008, chaos broke out, infectious fears spread, and the government stepped in to guarantee funds,” he said.
Former US controller of the currency Brian Brooks opposed the podcast that the new genius action, which requires one-to-one state box support, reflects the national banking reforms that ended America’s “Wildcat Banking” era.
“Monitoring is equal to security,” he said. “Every time a new token is issued, another dollar of the Ministry of Finance must be purchased.”
This traction captures the macro dilemma.
Coinbases model shows that stableecoin’s shaving basis from the Treasury outcome, Brooks calls it a new engine for demand for global dollar, and Eichengen warns warn of a 2008 style liquidity. In the meantime, Lin claims that the rails are already there – and the question is whether they unite into a market that starts the system or breach of instruments that enhance shock.
Market movements
BTC: BTC is currently trading over $ 111,300. Coindesk -Market Data shows that the world’s largest digital asset is trading within a tight intraday area, suggesting the consolidation of mood. Markets occur carefully in the middle of macrous security, where investors patiently wait for further momentum or directional signals.
ETH: Eth Tammer of $ 4,320 and showing modest upside (+0.6%) Intraday, hint of renewed investor interest after recent gains. The wider crypto recovery, especially in Altcoins, seems to strengthen demand.
Gold: Gold recently crossed $ 3,540 per Ounce, which put it on a fresh closure of all the time. The rally is driven by increasing expectations of an upcoming fat rate cut as well as increased uncertainty over US customs and political pressure on bold. Investors flow to gold as an active active active in the middle of these risks.
Nikkei 225: Nikkei 225 remains stable within its current interval, which reflects cautious optimism among investors. The increase follows a wider “Ninja Stealth Rally” in Japanese shares, driven by strong foreign influxes, reforms and changing global capital trends against Japan.
Other places in crypto
- Jack Ma-Bound Yunfeng Financial to build Ether Treasury Starting with $ 44m Eth-Purchase (Coindesk)
- Jito leaders exploring the effect of secs fluent decision -making decision (block)
- Ethereum Foundation to unload another 10K ETH after Sharplink Deal (Coindesk)
