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.
Rest in peace, Coinbase wallet.
No, the application itself will not disappear, but it is obtaining a new name.
In its X profile, its name crosses and replaces with an ‘TBA’ and some question signs.
“There is a lot of speculation about what it means, but I am tilting towards ‘the base application’. That would fit the idea of presenting a variety of experiences in the application directly inside its wallet,” said Bradley Park, an analyst based in Seoul with DNTV Research, to Coindesk in an interview.
Base creator Jesse Pollak was used to lead the coinbase wallet team last October, which gives credit to Park’s theory.
In an interview on the margin of Devcon in Bangkok last year, Pollak played the decentralization of the base. It could be that the wallet is due to a brand change to highlight its decentralized nature and its distance from Coinbase itself.
It is not the first time that Coinbase has changed his wallet. Originally it was released as ‘Toshi’, and in 2018 that name was removed in favor of Coinbase Wallet.
Ethereum’s ZK update gains institutional praise from Cathie Wood
The executive director of Ark Invest, Cathie Wood, says that Ethereum is “proposing the correct movements for the scalability and privacy to maintain her leadership in the institutional world”, such as the Ethereum Foundation presents a road map to bring zero knowledge tests (ZKPS) directly to its base layer.
Although Wood acknowledged that he does not understand all the technical details, his support highlights the growing institutional confidence in the long -term vision of Ethereum.
The proposed update would allow the validators to verify the cryptographic tests of validity of the block instead of re -executing each transaction, drastically reducing the computational overload. These tests would be generated by block builders or third -party balloon networks and verified in less than 10 seconds, using hardware that costs less than $ 100,000 and does not consume more than 10 kilowatts of energy.
The plan would increase network performance and decentralization, but comes with compensation. Changing the loading of the computing of validators to the setbacks could introduce the risks of life if those setbacks are disconnected or colluded. The Ethereum Foundation aims to mitigate these risks through the diversity of prover, hardening of the protocol and eventually allowing home participants to contribute to the test.
If it succeeds, this would make Ethereum the first important block chain to integrate ZKP in the protocol layer, reinforcing its position as the dominant infrastructure for both decentralized applications and for institutional adoption. Combined with the availability of cheaper data through Blobs and advances in ZK -rolps, Ethereum is positioning itself as the clearest chain for the scale.
Market movements:
BTC: Bitcoin recovered 1% to almost $ 119K over the weekend in the middle of normal triple commercial volumes, while the Blackrock Ibit crossed $ 80 billion in cryptographic assets under administration, which indicates a strong institutional demand despite a reversal in the earnings of the late session.
ETH: Ethereum increased more than $ 3,000 for the first time since February, increasing 3% amid record entries and higher commercial volumes that indicated a strong bullish impulse.
Gold: The gold rose to $ 3,371 as the central banks continue with their juerga of historical accumulation, more than 1,000 tons per year since 2022, feeding an upward breakdown above the key technical levels and the establishment of $ 3,578 and more.
Nikkei 225: Asia-Pacific markets opened the lowest Monday when investors reacted to the surprise weekend announcement of President Trump of 30% of tariffs on the EU and Mexico from August 1, with Nikkei 225 of Japan falling 0.33%.
In another part of Crypto:
- Graph of the week: ‘Hyperbitcoinization’ may not be just a maximum fantasy (Cindenesk)
- Cryptography status: Preview of the Congress’ ‘Week of cryptography’ (Cindenesk)
- Coinbase hires the Alexonchain pseudonym poster as the first ‘Twitter cryptography leader’ in the attempt to expand the presence in social networks (The block)
