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.
The successful agreement of Telegram with Xai, which would see the company of Elon Musk integrate into Telegram and the two companies share income, is still a work in progress despite an announcement by Pavel Durov earlier on Wednesday, US Time, that the agreement was signed.
Ton, a token affiliated with the Telegram ecosystem, is negotiated at $ 3.30, gathering there from $ 3 after the initial announcement – now refuted – from the company of people. The token is down compared to a previous summit of $ 3.68, after Elon Musk published on X that no agreement had been signed between the two companies. You are still up 11% on the day, according to data from the Coindesk market.
While Durov has now confirmed that no agreement had been signed, the founder of the Telegram said that there was an “agreement in principle” which could be the reason why you always have significant support for $ 3.30.
All eyes will be on Telegram and Xai while the working day in Asia is starting to see if more clarification comes from each side.
Decentralized Bluesky is not a web3 company, explains the CEO
Vancouver – Jay Graber, CEO of the Bluesky fast -growing decentralized social media platform made its debut in Web3 as a ZCASH confidentiality developer, but she wants to keep her competitor X firmly in web2.
Speaking on Wednesday at the web summit in Vancouver, Graber argued the permanence and the high intensity design of the Blockchain technology technology make it unsuitable for consumer social networks, where the content is ephemeral and personal.
“Why do you need your photo of what you are publishing for lunch that is held forever in these digital archives?” She asked on stage, emphasizing the inherent scalability and the cost limitations that led her decision to avoid the Bluesky blockchain.
Graber, of course, is not against crypto. She says that there is still real value in technology for things like payments and digital identity, even if sometimes web3 often presents solutions looking for a problem and has a gravity tendency towards centralization.
“There is a period when everyone was creating a blockchain like this hammer, and we were just going to try the blockchain for everything,” said Graber. “Each system that tries to do it ends with concentrations because it is easy, and convenience finally wins at the end of the day.”
For her, the future of Bluesky lies in the combination of decentralization ideals, such as user autonomy and portability, with a practical web2 infrastructure to create a platform that favors user needs.
“The blockchain will probably find its place somewhere in the world of technology, but Bluesky is not on a blockchain because we simply make the best choices for our users,” she concluded.
The pace of NVIDIA’s profits increases the stock, offers a modest elevator to the tokens AI
NVIDIA shares increased by around 4% in exchanges after opening hours on Wednesday after reporting stronger profits than expected in the first quarter, highlighted by an increase in income of 69% compared to last year and a jump of 73% of its data center led by a solid IA chip demand. Net profit increased by 26% to 18.8 billion dollars, increasing NVIDIA -to -date performance, previously reported Coindesk.
The winning report provided a slight elevator for cryptographic tokens related to AI like Bittensor (TAO), near the protocol and internet (ICP), although the gains are modest.
However, Nvidia tempered future expectations, warning that second quarter income could be lower than market estimates due to trade tensions linked to prices between the United States and China.
Market movements:
- BTC: Bitcoin fell 1.2% to $ 107,800, although Nydig sees more space for earnings. At the same time, cryptographic markets raised their shoulders in an American court blocking the broad prices of Trump as unconstitutional, the trading of the remaining BTC.
- ETH: Ether is negotiated above $ 2,700 while Asia is starting its working day. Earlier, Coindesk analyst, Omkar Godbole, wrote ETH, a break above $ 3,000, forming an uphill “ascending triangle” model with increasing support and resistance to $ 2,735, because higher stockings signal increasing purchasing pressure and an accumulation before a potential price wave.
- Gold: Gold slipped from 1% to $ 3,267.47 in the middle of the cooling request, although pricing and geopolitical uncertainty persists.
- Nikkei 225: The Nikkei 225 opens in the green, up 1%, while investors in Japan delivering exports envisage a recent announcement that the Supreme Court blocked Trump’s prices with cautious optimism, even if the crypto has raised the shoulders.
- S&P 500: While the S&P 500 has closed in the red, the term contracts are up 1% while merchants expect more clarity concerning the tribunal’s decision to block Trump’s prices.
