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.
Rest in peace, Coinbase Wallet.
No, the app itself doesn’t go away, but it gets a new name.
On its X -profile, the name is crossed out and replaced with a ‘TBA’ and a few question marks.
“There is plenty of speculation about what it means, but I am leaning towards the ‘Base app’. It would fit the idea that the basic end of a series of in-app experiences directly inside his wallet,” said Bradley Park, an Seoul-based analyst with DNTV research, Coindesk in an interview.
The base creator Jesse Pollak was tapped to lead Coinbas’s wallet team last October, which gives faith to Park’s theory.
In an interview on the sidelines for Devcon in Bangkok last year, Pollak played decentralization of the base. It may be that the wallet is due to a rebrand to highlight its decentralized nature and distance from the coinbase itself.
This is not the first time Coinbase has re -labeled its wallet again. Originally it was launched as ‘Toshi’ and in 2018 this name was dropped in favor of Coinbase Wallet.
Ethereum’s ZK upgrade serves institutional praise from Cathie Wood
Ark Invest CEO Cathie Wood says Ethereum “suggests the right movements of scalability and privacy to maintain its lead in the institutional world,” like Ethereum Foundation reveals a roadmap to bring zero-knowledge proof (Zkps) directly to its base layer.
While Wood acknowledged that she does not understand all the technical details, her endorsement highlights growing institutional confidence in Ethereum’s long -term vision.
The proposed upgrade would allow validators to verify cryptographic evidence of block validity rather than re -develop each transaction, which dramatically reduces the calculation cost. These evidence would be generated by Block Builders or third-party ZK-Prover Networks and verified in less than 10 seconds using hardware that costs less than $ 100,000 and consumes no more than 10 kilowatt power.
The plan would increase the network flow and decentralization, but is delivered with trade -offs. Moving the burden of calculation from validators to deliver could introduce life fool price if these deliver go offline or clash. The Ethereum Foundation aims to mitigate these risks through the diversity of the proverb, protocol hardening and eventually enable participants to help to prove.
If successful, this would make Ethereum the first major blockchain to integrate ZKPs by the protocol layer, strengthening its position as the dominant infrastructure for both decentralized uses and institutional adoption. Combined with cheaper data availability via clumps and progress in ZK-Rollups, Ethereum places itself as the chain that is most ready for scale.
Market Movement:
BTC: Bitcoin gathered 1% to nearly $ 119K over the weekend in the midst of triple-normal trading volumes, while Blackrock’s Ibit crossed $ 80 billion in crypto assets under management, signaling a strong institutional demand despite a profit development.
ETH: Ethereum rose past $ 3,000 for the first time since February and rose 3% in the midst of record institutional influxes and increased trading volumes signaling a strong bullish momentum.
Gold: Gold climbed up to $ 3,371, as central banks continue their historic accumulation Spree, over 1,000 tonnes annually since 2022, burning a bullish breakout of key technical levels and sets sights of $ 3,578 and above.
Nikkei 225: The Markets of the Asia-Stophavet opened lower Monday when investors responded to President Trump’s surprise weekend announcement of 30% duty on the EU and Mexico, which started on August 1, when Japan’s Nikkei 225 fell 0.33%.
Elsewhere in crypto:
- Card of the Week: ‘Hyperbitcoinization’ may not be just maximalist fantasy anymore (Coindesk)
- State of Crypto: preview of Congress’ ‘Crypto Week’ (Coindesk)
- Coinbase hires pseudonymous poster Alexonchain as the first ‘Crypto Twitter Lead’ in bid to extend the presence of social media (The block)
