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.
The Chronicle, Oracle Infrastructure Provider Powering Secure, Scalable Onchain Financial Data, was named exclusive partner at Grove Protocol, a credit-grade platform with a $ 1 billion tokenized asset approach approach.
Grove, part of the Sky Ecosystem known as a ‘star’, the name Sky used for units in its network, Launched in June By a $ 1 billion allocation to tokenized collateralized loans obligations such as Janus Henderson Anemoy AAA CLO strategy at Centrifuge, which aims to bridge the defi and traditional credit markets by providing protocols and managers of access to various, institutions of grade yields.
Niklas Kunkel, founder of Chronicle, told an interview with CoinDesk that the oracles have changed beyond their early role as simple price feeds.
“They started as general data distribution mechanisms and were really tired at prices just how many years, to which if you tell Oracle to anyone in crypto, they immediately thought of the thing that gives you a price,” he told CoinDesk.
“It wasn’t until recently that that mold was finally shed and people were starting to understand how important data and context were and how it could be inhabited with a type of risk management.”
Kunkel sees tokenized assets as the next major growth of the DeFI engine, describing them as a “multi-trillion dollar chance of injection of liquidity” as the sector looks beyond BTC and ETH.
“RWAs are not native cryptos, so the management of risk around them needs to be more evaluated,” he continued. “Everything is out of the chain, and where the oracles really fill that space to add that context, to restore that transparency.”
In Kunkel’s point of view, the potential of the regulation of oracles is just beginning to be recognized.
“In the real world, this is usually done through regulation where you need to make quarterly filings,” he said. “But in the Defi we look forward to the end of the season in the span of blocks, and once the regulators are really starting to understand what the oracles can do, it’s important to be the biggest adopters of Oracle, because the oracles are as important as Reg tech.”
This collaboration marks a step in Chronicle’s plan to dominate the tokenized Asset Oracle Market, a position that Kunkel believes that the Defi itself will soon grow.
Movers in the market
BTC: BTC traded at $ 119k, up to 2% in the last 24 hours. A recent JP Morgan note It has argued that a Bullish S&P 500 perspective can be raised by the BTC by strengthening the appetite and the capital that flows into the assumptions of possession, giving their historical positive relationships.
Eth: ETH is trading above $ 4200. Bizantine Capital Managing Partner March Zheng said in a CoinDesk note that the forced closure of so many ETH shorts in the past 72 hours has helped further accelerating the digital asset rally.
Gold: Gold holds close to record highs as a weaker US economic data, trade tensions, and a seductive demand for insight, with the upcoming inflation and retail sale data that is likely to shape its next move.
NIKKEI 225: Closed for a public holiday.
Everywhere in Crypto
- El Salvador’s new Bitcoin law (The block)
- Stablecoin’s exits such as Circle and Tether are more treasures than most countries. Here’s how can the US economy be able to reshape (Fortune)
- Brands of Animoca and Standard Chartered established Stablecoin Issuer in Hong Kong (CoinDesk)
