Hello, Asia. Here is what is news on the markets:
Welcome to the morning briefing in Asia, a daily summary of the best stories during the hours and an overview of market movements and analyzes. For a detailed overview of the American markets, see the Americas of the Coindesk Crypto Daybook.
Rest in peace, Coinbase portfolio.
No, the application itself does not disappear, but it gets a new name.
On his profile X, his name is eliminated and replaced by a “TBA” and some question points.
“There is a lot of speculation about what it means, but I lean towards” the basic application “. This would be appropriate to unveil a range of experiences in the application directly inside its portfolio,” a Bradley Park interview, a Seoul -based analyst, told CoindSk.
Basic designer Jesse Pollak was used to lead the Coinbase portfolio team last October, which gives credit to Park’s theory.
In an interview on the sidelines of Devcon in Bangkok last year, Pollak played the decentralization of the base. The portfolio could be due to a brand change to highlight its decentralized nature and its distance from the base of the base itself.
This is not the first time that Coinbase resumed his wallet. Originally, it was launched as “Toshi”, and in 2018, this name was abandoned in favor of the Coinbase portfolio.
Ethereum’s ZK upgrade wins the institutional praise of Cathie Wood
The CEO of Ark Invest, Cathe Wood, says that Ethereum “offers good movements for scalability and privacy to maintain its advance in the institutional world”, as the The Ethereum Foundation unveils a roadmap to provide proof of zero knowledge (Zkps) directly to its base layer.
While Wood admitted that it did not understand all the technical details, its approval highlights increasing institutional trust in the long -term vision of Ethereum.
The proposed upgrade would allow validators to verify the cryptographic evidence of block validity rather than to re -execute each transaction, considerably reducing the general calculation costs. These evidence would be generated by block manufacturers or ZK-Prover third-party networks and checked in less than 10 seconds, using equipment that costs less than $ 100,000 and does not consume more than 10 kilowatts of power.
The plan would increase the flow and decentralization of the network, but is accompanied by compromise. The displacement of the burden of the validators’ calculation to promoters could introduce risks of liveliness if these prominents are offline or colluted. The Ethereum Foundation aims to alleviate these risks thanks to the diversity of the Proveants, the hardening of the protocol and, possibly, allowing home participants to contribute to prove.
In case of success, it would make Ethereum the first major blockchain to integrate the zkps into the protocol layer, reinforcing its dominant infrastructure position for decentralized applications and institutional adoption. Combined with the availability of cheaper data via blobs and advances in ZK rollups, Ethereum is positioned as the most ready chain.
Market movements:
BTC: Bitcoin joined 1% to almost $ 119,000 during the weekend in the mid-normal negotiation volumes, while the Ibit of Blackrock crossed $ 80 billion in cryptographic assets under management, signaling a strong institutional demand despite a reversal of profit at the end of the session.
ETH: Ethereum exceeded $ 3,000 for the first time since February, an increase of 3% in the midst of record institutional entries and increased negotiation volumes which reported a strong bullish dynamic.
Gold: Gold has increased to $ 3,371 while central banks continue their turn of historical accumulation, more than 1,000 tonnes per year since 2022, fueling an bull’s ripper above key technical levels and fixing views on $ 3,578 and beyond.
Nikkei 225: The markets in Asia-Pacific opened the decline on Monday while investors reacted to the announcement of the surprise weekend of President Trump of prices of 30% on the EU and Mexico from August 1, Japan Nikkei 225 down 0.33%.
Elsewhere in crypto:
- Graphic of the week: “hyperbitcoization” may not be fair maximalist fantasy (Coindesk)
- Crypto state: preview of the ” crypto week ‘congress (Coindesk)
- Coinbase hires the pseudonym poster Alexonchain as first “ responsible for the crypto twitter ” in order to extend the presence of social media (The block)
