Good morning, Asia. Here’s what makes news in the markets:
Welcome to the Asia Morning Briefing, a sunny summary of the leading stories of US time and a general measures of movements and market reviews. For a detailed overall -analysis of US markets, see The Americans.
Rest in peace, Coinbase wallet.
No, the app itself will not be lost, but it gets a new name.
In its profileIts name crosses and replaced a ‘TBA’ and some question marks.
“There is a lot of speculation about what that means, but I lean on the ‘base app.’ That would fit the base idea to open a set of in-app experiences directly within its purse, “Bradley Park, a Seoul-based analyst with DNTV research, told CoinDesk in an interview.
Base creator Jesse Pollak is Tapped to lead Coinbase’s purse team in Octoberwhich gives Park’s theory a theory.
In an interview with Devcon’s sides in Bangkok last year, Pollak played the Decentralization of the Base. The purse may be due to a rebrand to highlight the decentralized nature and distance from the Coinbase itself.
This is not the first time Coinbase has again branded its purse. Originally it was launched as ‘Toshi’, and in 2018 that name has fallen In favor of Coinbase’s wallet.
Ethereum’s ZK upgrading earns institutional praise from Cathie Wood
Ark invest CEO Cathie Wood Ethereum said would “suggest proper motion for scalability and privacy to maintain its leadership in the institutional world,” as the The Ethereum Foundation opens a roadmap to bring proof zero-knowledge (ZKPS) directly to its base layer.
As Wood recognized that he did not understand all the technical details, his endorsement featured a growing institutional trust in Ethereum’s long-term perspective.
The suggested upgrade will allow validators to verify proof cryptographic block validity rather than re-executing each transaction, which dramatically reduces computational overhead. These proofs will develop block or third-party ZK-prover network builders and are proven in under 10 seconds, using hardware worth less than $ 100,000 and consumes no more than 10 kilowatts of power.
The plan will boost the throughput of the network and decentralization, but there are tradeoffs. Transferring the burden of calculation from validators to providers can introduce life risks if service providers are offline or collude. The Ethereum Foundation aims to ease these risks through the diversity of proverb, protocol hardening, and eventually enabling home participants to contribute to the validation.
If successfully, it will make Ethereum the first major blockchain to include ZKPs in the protocol layer, strengthening its position as a dominant infrastructure for both decentralized application and institutional adoption. Combined with cheaper data availability by blobs and promoting ZK-Rollups, Ethereum positions itself as a chain ready for the scale.
Market Movements:
BTC: Bitcoin rallied 1% to nearly $ 119k over the weekend amidst triple-normal trading volumes, while Blackrock’s Ibit crossed $ 80 billion in crypto assets under management, which signed strong institutional demand despite a late-session earning income.
Eth: The Ethereum has passed $ 3,000 in the first time since February, rising by 3% amidst institutional records and raising trade volumes signing a strong bullish momentum.
Gold: Gold has risen to $ 3,371 as central banks continue their historic accumulation accumulating, over 1,000 tons a year since 2022, putting a bullish breakout above the basic technical levels and setting views at $ 3,578 and more.
NIKKEI 225: Asia-Pacific Markets opened the lower Monday while investors reacted to President Trump’s surprise on the weekend of announcement of 30% EU and Mexico tariffs starting August 1, with Japan’s Nikkei 225 dropped by 0.33%.
Wherever in Crypto:
- Sunday chart: ‘Hyperbitcoinization’ may not be just Maximalist fantasy (CoinDesk)
- State of Crypto: Congress ” Crypto Week ‘Sunday’ (CoinDesk)
- Coinbase hired pseudonymous poster AlexonChain as the first ‘crypto twitter lead’ to bid to expand the existence of social media (The block)
