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.
Chronicle, the Oracle Infrastructure Supplier that promotes safe and scalable financial data, has been appointed exclusive partner of the Grove protocol, an institutional grade credit platform with a strategy of assigning tokenized assets of $ 1 billion.
Grove, part of the Sky ecosystem known as ‘Star’, the name that Sky uses for the units in his network, launched in June with an allocation of $ 1 billion to the tokenization of guaranteed loans such as credit markets Janus Henderson Anemoy AAA CLO on centrifuges centrifuges the managers of the advisors to the managers of the advisors to the institutional centrifugia.
Niklas Kunkel, founder of Chronicle, said in an interview with Coendesk that the oracles have evolved beyond their early role as simple food for prices.
“They began as general mechanisms for data distribution and really connected at fair prices during the years, to the point that if Oracle says to any person in cryptography, they immediately think about what gives a price,” he told Coinridesk.
“It was not until recently that this mold is finally throwing themselves and people are beginning to understand how important the data and the context can be and how it can be used in a way of risk management.”
Kunkel sees tokenized assets as the next defi significant growth engine, describing them as an “multimillionaire liquidity injection opportunity” as the sector sees beyond BTC and ETH.
“The RWA are not native to crypto, so the risk management around them must be much more analyzed,” he continued. “Everything is not in the chain, so where the oracles really fill that void is to add that context, to recover that transparency.”
In Kunkel’s opinion, the regulatory potential of the oracles is just beginning to be recognized.
“In the real world, this is generally done through regulation where you need to make quarterly presentations,” he said. “But in Defi we expect the purpose in the span of blocks, and once the regulators really begin to understand what the oracles can do, they will become essentially the greatest adopters of Oracle, because the oracles essentially become as reg tech.”
This association marks a step in the Chronicle Plan to master the tokenized asset market, a position that Kunkel believes that it will soon be overcome to Defi.
Market movements
BTC: BTC is quoted at $ 119K, 2% more in the last 24 hours. A recent note by JP Morgan argued that a bullish perspective S&P 500 could lift BTC by increasing risk appetite and capital flow in speculative assets, given its historical positive correlation.
ETH: ETH is quoted above $ 4200. Byzantine Capital managing partner, March Zheng, told COINDESK that the forced closure of so many ETH shorts during the last 72 hours, which helped further accelerate the digital asset rally.
Gold: Gold is maintaining the almost record maximums as the US economic data., US commercial tensions and an Outlook Fed owner feed the demand, with the next inflation and retail sales data that can shape their next movement.
Nikkei 225: Closed for a holiday.
In another part of crypto
- The new Bitcoin law of El Salvador indicates the change in retail adoption to institutional investment (The block)
- Stablecoin’s emitters such as Circle and Tether are swallowing more treasure bonds than most countries. This is how that could remodel the economy of the United States. (Fortune)
- Animou Brands and Standard Chartered establish stablecoin issuer in Hong Kong (Cindenesk)
