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.
Chronicle, Oracle Infrastructure provider that drives safe, scalable onchain-economic data, has been named the exclusive Partner of Grove Protocol, a credit platform of institutional quality with a tokenized asset in favor of a tokenized asset.
Grove, part of the sky ecosystem known as a ‘star’, the name Sky uses for units in his network, which was launched in June with an award of $ 1 billion to tokenized security obligations such as Janus Henderson Anemoy AAA CLO strategy of centrifuge, aiming to broke over defi and traditional credit markets by giving protocols and assets to access to the declaration, access to the declaration, accessing the declaration, to access to the declaration, to gain protocols, and to access to the declaration, to gain protocols and to access the least, The institutions give.
Niklas Kunkel, Chronicle’s founder, said in an interview with Coindesk that oracles have evolved beyond their early role as simple price food.
“They started as general data distribution mechanisms and were really muted in just prices in no matter how many years to the point where if you say Oracle to someone in crypto, they immediately think of what gives you a prize,” he told Coindesk.
“It was only recently that this form is finally thrown and people begin to understand how important data and context can be and how it can be utilized on a risk control type.”
Kunkel sees tokenized assets as a defense next major growth engine and describes them as a “multi-billion dollar liquidity injection option” as the sector looks beyond BTC and ETH.
“Rwas is not crypto native, so the risk management around them must be much more investigated,” he continued. “Everything is not on chain and where oracles really fill this hole to add that context back in to bring back that transparency.”
In Kankel’s view, the regulatory potential for oracles has just begun to be recognized.
“In the real world, this is usually done through regulation where you need quarterly archives,” he said. “But in Defi we expect finality in the span of blocks, and when regulators first begin to understand what oracles can do, they will essentially become Oracle’s largest adopters because oracles essentially become like reg Tech.”
This partnership marks a step in Chronicle’s plan to dominate the tokenized active Oracle Market, a position KUNKE believes will soon grow out of defi.
Market Movers
BTC: BTC deals with $ 119K, an increase of 2% over the past 24 hours. A recent JP Morgan -Note claimed that a Bullish S&P 500 Outlook could lift the BTC by increasing the risk appetite and capital streams for speculative assets considering their historically positive correlation.
ETH: ETH trades over $ 4200. Bizantine Capital Managing Partner March Zheng said in a note to Coindesk that the forced closure of so many ETH shorts over the past 72 hours, which helped speed up the digital activated rally.
Gold: Gold holds almost record highs such as weaker US financial data, merchant tensions and a dovish fed Outlook boost demand, with upcoming inflation and retail data that is likely to shape the next step.
Nikkei 225: Closed for a public holiday.
Other places in crypto
- El Salvador’s new bitcoin -lov signalizes shifts from retail uptake to institutional investment (The block)
- StableCOin issuers such as Circle and Tether are gone up more treasuries than most countries. This is how it could reshape the US economy (Assets)
- Animoca -Marks and Standard Charter Establish StableCOin -theses in Hong Kong (Coindesk)
