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.
China Renaissance’s reported plan to raise $ 600 million for a BNB-focused investment vehicle, where binance founder Changpen Zhaos Yzi Labs invests next door may look like a straightforward bet on Binance’s ecosystem. But Singapore-based market manufacturer Enflux claims it is somewhat deeper: a signal that Asian institutions are building a different kind of crypto exposure than their Western colleagues.
“Regional capital allocators seek exposure to infrastructure roofs that drive transaction stream, not just shares for the value,” said Enflux in a note to Coindesk, which frames the China Renaissance movement as part of a wider divergence between East and West.
BNB is a good example of this. Binance is of course not a listed company, but BNB acts as something very close to a stock. Its value is a power of attorney for market mood and confidence in binance.
While US and European markets are leaning into tokenized treasuries, funds and assets in the real world, Asia’s capital markets are increasingly constructing crypto-native liquidity networks centered around exchange, stacking and transaction infrastructure.
“This binds to the wider shift where Asian capital markets build their own layer of crypto-native liquidity networks, while Western markets were tokenized tradfi,” Enflux continued.
The logic is straightforward. The value must be accrued by activity, not scarcity. Tron’s steps to create a publicly listed company to provide investors who are listed exposure to activity on the TRX network – which is used strongly to send usd around Latin America – follows the same mindset.
If Enflux’s thesis is right, China Renaissance Fund can be an early plan for Asia’s next wave of institutional products: Permanent capital vehicles holding the pipes in the crypto economy, not just its gold.
Market Movement:
BTC: BTC trades over $ 114,500, relatively flat as the market is stabilized after last weekend’s volatility.
ETH: ETH rose 1.5% to $ 4,230 when the network activity was picked up, even when US-listing Ethereum ETFs saw $ 118 million in outflows.
Gold: Gold rose 2% to a record $ 4,103 per Ounce as renewed US-China Merchants and expectations of further fed rate cuts operated investors against safe port assets.
Nikkei 225: The Markets of the Asia-Stophand acted mixed on Tuesday when Trump’s conciliatory remarks about China not equalized renewed merchant stresses, with Japan’s Nikkei 225 down 1.34%.
Elsewhere in crypto:
- The Crypto -Market Structure may have to wait until after the midterm elections, says TD Cowen (block)
- Tom Lee’s Bitmine bought dip and added over 200 000 ETH to Ethereum Treasury (Coindesk)
- Ripple offers $ 200,000 for ‘Attack’ XRP Ledger Lending Protocol (Decrypt)
