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.
South Korea has long been known for its great influence on the ALTCOIN markets, from XRP Mania, who ran a 400% rally last year for today’s occupation of a token that proudly calls itself unbroken.
The $ useless phenomenon has ties to South Korean Kols, Bradley Park, an Seoul-based analyst with DNTV research, Coindesk said in an interview.
In the middle of all, Yeomyung, a Korean COPD and liquidity provider, who is useless, is kept through a 50% step and now sits on serious paper gains.
“He earned great profits under the Trump coin, and with useless he also earned from [providing liquidity] Early and is just to hold, ”Park told Coindesk.” They all just wait for a CEX list, because without it there is no real way to finish. “
Park traces Yeomyung’s wallet activity and noted that his early conviction has inspired copy-commerce among Korean retail investors. Even wallets tied to insiders at Solana’s Jupiter
holder. The increase in useless reflects a broader development in Korean market behavior.
“I really think Korean users in this market are no longer just to leave liquidity,” he said. “They begin to understand the market and evolve into real global players.”
Another character in this story is Bonk guyAn early promoter of Bonk, who reappeared to tweet enthusiastically about useless, after the award rebound, although some Korean dealers, including Park, have questioned his sincerity.
“Bonk Guy was the first to Shill Letsbonk,” Park said. “But after the award collapsed, he became silent. Now that useless jumps back, he suddenly shows interest again.”
Park pointed to the advent of Hyperliquid, Kaia and now Solana-based Memecoins as useless as evidence that Korea is no longer a secondary market.
While XRP’s rally was supported by legal clarity in the United States and tales of deregulation of the Trump era, uselessly feels less like chaos for chaos and more like a reflection of where attention and exhaustion flow on today’s market, Park said.
Without a timetable, no benefit and no pretense of building something bigger, it taps into a kind of mem factor disillusionment: a collective shoulder feature of traditional crypto -lifter and an ironic effort on nothingness that paradoxically seems to be more honest than many tokens claiming to change the world.
Trump supports Genius Act
President Donald Trump on Tuesday approved the brilliant act in a truth of truth after its top -time transition in the Senate and called it a major step towards American leadership in the digital asset sector.
Trump called on the House of Representatives to adopt the bill “Lightning quickly” and without changes and said it should be sent to his desk with “no delays, no additions.”
The message signalizes strong executive support for the guidance and establishment of the National Innovation for US StableCecoins (Genius) ACT, which introduces reserve and compliance requirements for dollar-stacked stablecoin issuers and marks the first major piece of cryptoque legislation to clear the Senate.
Trump framed the legislation as a key to enabling “massive investment” and “great innovation” that places the United States as a global leader in digital assets.
While the Bill adopted the Senate with considerable Bipartisan support, its fate in parliament remains uncertain.
Democratic legislators weigh potential changes, including stricter supervision for foreign token tokens and limitations for potential issuers.
However, the bill is not without its critics. In a recent Coindesk editorial, Georgetown University Finance Professor James J. Angel claims that the Genius Act is a deficient piece of legislation due to fragmented supervision of 55 regulators, redundant processes, exclusion of interest-bearing stablecoins and ineffective collections.
NEWSROUNDUP: COINBASE reveals Coinbase Payments for Merchants
Coinbase (COIN) revealed Coinbase Payments Wednesday, Coindesk previously reported, a new trading-focused payments stuck built on its Ethereum Layer-2 network base.
The product allows global E -trading platforms like Shopify to accept USDC 24/7 without needing blockchain expertise using tools such as a gas -free stableecoin -checkout, an e -trading API engine and an onchain payout -protocol.
Coinbase said the system is designed to replicate traditional payment rails while lowering costs and offering always-to-settlement. The launch positions Coinbase together with fintech companies such as Stripe and PayPal in the course of modernizing payments with blockchain infrastructure.
It also elaborates on its partnership with USDC Essuer Circle (CRCL), whose shares jumped 25% on the news, while Coinbase gathered 16%. Coinbase says stableecoins treated $ 30 trillion in transactions last year, tripling from the previous year, and it is about programmable, dollar-pointed payments will continue to interfere with the global economic stack.
Market Movement:
- BTC: Bitcoin rebound over $ 105,000 in a V-shaped improvement despite escalating Israel-IRAN tensions, with strong ETF flow and key support for $ 103,650, which highlights institutional confidence in the middle of market volatility, according to Coindesk Research’s technical analysis data.
- ETH: Ethereum rebound 4% to hold over $ 2,500 despite tension in the Middle East, with record high efforts and accumulation signaling of growing investor overgrowth in the midst of market volatility.
- Gold: Gold slipped 0.19% to $ 3,383.11 after Fed kept rates stable at 4.25-4.5%, with chairman Powell signaled no imminent political changes and continued to emphasize financial strength despite merchant stresses.
- Nikkei 225: Japan’s Nikkei 225 slipped 0.27% on Thursday as the markets in Asia and the Pacific acted mixed, weighed down by Fed’s rate break and running Israel-IRAN tensions.
- S&P 500: The S&P 500 dipped 0.03% to 5,980.87, after Fed kept the rates stable, with chairman Powell signaled a waiting-and-see approach in the midst of uncertainty about Trump’s customs.
Elsewhere in crypto:
