Good morning, Asia. This is what news is doing in the markets:
Welcome to Asia Morning Briefing, a daily summary of the main stories during the US hours and an overview of the movements and market analysis. To obtain a detailed description of the US markets, see Cryptokook from Coindesk America.
The successful Telegram agreement with XAI, which would see the company of Elon Musk’s AIs to join Telegram and the two companies share income, remains a work in progress despite an early Pavel Hardov announcement on Wednesday, the time of the United States, which the agreement was signed.
Ton, a Token affiliated with the Telegram ecosystem, is quoted at $ 3.30, gathering there from $ 3 after the initial announcement, now refuted, of the association. The Token is under an earlier of $ 3.68, after Elon Musk published in X that no agreement had been signed between the two companies. Ton has still risen 11% in the day, according to Coindesk market data.
While Durov has now confirmed that no agreement has been signed, the founder of Telegram said there is an “agreement in principle”, so Ton still has significant support in the $ 3.30.
All eyes will be in Telegram and XAI when the day to Hermete de Asia begins to see if more clarification comes from each side.
Decentralized Bluesky is not a web company, says the CEO
Vancouver-Jay Graber, the CEO of the rapid decentralized social networks platform, Bluesky, began on web3 as a ZCASH coin privacy developer, but wants to maintain its competitor X firmly on web2.
Summiting Summit in Vancouver on Wednesday, Graber argued that the intensive design of Blockchain Technology resources make it inappropriate for consumer -oriented social networks, where the content is fleeting and personal.
“Why do you need your photo of what you publish for lunch that remains forever in this digital file?” He asked on stage, highlighting the inherent scalability and cost limitations that promoted his decision to avoid blockchain in Bluesky.
Graber, without a doubt, is not against Crypto. She says that there is still a genuine value in technology for things such as payments and digital identity, even if sometimes web3 often presents solutions in search of a problem, and has a tendency to gravitate towards centralization.
“There is a period in which everyone was creating blockchain like this hammer, and we were only going to try Blockchain for everything,” said Graber. “Every system that tries to do it ends with concentrations because it is easy and the convenience finally wins at the end of the day.”
For her, Bluesky’s future lies in combining the ideals of decentralization, such as the autonomy and portability of the user, with practical web infrastructure to create a platform that prioritizes the needs of users.
“Blockchain will probably find its place somewhere in the world of technology, but Bluesky is not in a block chain because we are only making the best decisions for our users,” he concluded.
Nvidia’s profits are Boosts’ actions, it offers a modest elevator to AI tokens
Nvidia shares increased approximately 4% in the negotiation outside the schedule on Wednesday after informing stronger profits than expected in the first quarter, highlighted by an increase in income of 69% compared to last year and a 73% jump in their data center business promoted by a robust demand of AI chips. Net income increased by 26% to $ 18.8 billion, which increased the annual modestly higher NVIDIA yield, Coindesk said previously.
The profit report provided a slight elevator to cryptographic tokens related to AI as bittensor (TAO), the nearby protocol and the Internet computer (ICP), although the profits were modest.
However, Nvidia attenuated future expectations, warning that the income of the second quarter may not reach market estimates due to commercial tensions related to the rate between the United States and China.
Market movements:
- BTC: Bitcoin dropped 1.2% to $ 107,800, although Nydig sees more space for profits. At the same time, Crypto Markets shrugged from an American court that blocked Trump’s broad tariffs as unconstitutional, with the exchange of BTC being silenced.
- ETH: Ether quotes over $ 2700 when Asia begins his business day. Previously, Coendesk analyst, Omkar Godbole, wrote ETH in an outbreak above $ 3,000, forming a bullish pattern of “ascending triangle” with an increase in support and resistance to $ 2,735, since the highest minimums indicate a growing purchase and accumulation pressure ahead of a possible price increase.
- Gold: Gold has passed 1% to $ 3,267.47 in the midst of a demand for cooling refreshing, although geopolitical uncertainty and the rate persists.
- Nikkei 225: The Nikkei 225 is opening at Green, 1%more, since investors in Japan for export are analyzing a recent announcement that the Supreme Court has blocked Trump’s tariffs with cautious optimism, even when Crypto shrugged.
- S&P 500: While the S&P 500 closed in red, futures increased by 1% as merchants expect more clarity with respect to the movement of the court to block Trump’s rates.
