Good morning, Asia. What is the news in markets here:
Welcome to Asia Morning Breifeing, a daily summary of top stories during American hours and observation of market tricks and analysis. For detailed observation of American markets, see the Crypto DeBook America of Coindesk.
Telegram’s blockbuster deal with XAI, which sees Elon Musk’s AI company integrated into Telegram and both firm share revenue, still on Wednesday, US time before the Powel Durov’s announcement, despite the announcement of Powel Durov, which was dealt with.
Ton, a token, trading at $ 3.30, a token affiliated to Telegram’s ecosystem, rally after the initial – now refined – sophisticated – partnership was announced. The token was not a deal between the two companies that are below the earlier high level of $ 3.68 after Elon Musk posted on X. According to coindesk market data, the ton is still 11% above the day.
While Durov has now confirmed that no deal has been signed, the founder of Telegram said that “there is a compromise in theory”, which is why tons still have significant support at $ 3.30.
Everyone’s eyes will be on Telegram and XAI because Asia Business Day begins to see if more explanation comes from both sides.
Decentralized Blussky is not a web 3 company, CEO says
Vancouver-J Grabber, CEO of rapidly growing decentralized social media platform Blussky, started her in Web 3 as a developer for privacy coin ZCash, but she wants to keep her X contestant firmly in web 2.
Speaking at the web summit at Vancouver on Wednesday, Grabber argued that the durability and resource-intensive design of blockchain technology makes it unsuitable for consumer-oriented social networks, where the material is fleeting and individual.
“Why do you need a picture of what you post for lunch to keep you in this digital collection forever?” He asked on the stage, highlighting his decision to avoid blockchain in Bluuski, highlighting the built -in scalability and cost limits.
Grabber, not against Crypto, to ensure. She says that technology has still a real value for things like payment and digital identity, even though the web 3 often presents a solution in search of a problem, and is a tendency to gravity towards centralization.
“There is a period where everyone was making blockchain like this hammer, and we were just going to try blockchain for everything,” Grabber said. “Every system that is trying to do it ends with concentrations because it is easy, and the feature eventually wins at the end of the day.”
For him, the future of Bluusky lies in combining ideals of decentralization, such as user autonomy and portability, practical, to create a platform with web 2 infrastructure that prefer users’ needs.
“Blockchain will probably find its place somewhere in the world of technology, but Blussky is not on a blockchain because we are just making the best options for our users,” he concluded.
NVIDIA’s earnings promoted stock, AI provides a minor lift for tokens
Nvidia shares increased by nearly 4% after trading on Wednesday, which was first expected to have earnings for the first time, which was a 73% jump in its data center business operated from last year to 69% revenue and strong demand for AI chips. NVIDIA’s net income increased by 26% to $ 18.8 billion to promote NVidia’s year-on-year performance, which was already reported.
The earnings report provided minor lifts such as AI-related crypto tokens such as Bitsar (TAO), Pass Protocol and Internet Computer (ICP), although the benefits were modest.
However, Nvidia fulfilled future expectations, ensuring that the tariff -related trade tension between the US and China may cause market estimates in the second quarter revenue.
Market movement:
- BTC: Bitcoin from 1.2% to $ 107,800, although NYDIG sees more space for profit. At the same time, Crypto markets shut down an American court, with Trump’s broad tariffs blocked as unconstitutional, with BTC trading remaining silent.
- Eth: Ether is trading above $ 2700 as Asia starts its commercial day. Earlier, coindesk analyst Omkar GodBole wrote that Eth is a breakout above $ 3,000, making a rapid “ascending triangular” pattern with growing support and resistance at $ 2,735, as the high lows indicates the growing pressure and accumulation of a possible price increase.
- Sleep: Gold between cooling safe-heaven demand has slipped from 1% to $ 3,267.47, although due to tariffs and geopolitical uncertainty.
- Nikkei 225: Nikkei 225 is opening in Green, up to 1%, because investors in export-individual Japan are recently looking at an announcement that the Supreme Court has blocked Trump’s tariff with cautious optimism, even Crypto has closed it.
- S&P 500: While S&P 500 is off in red color, futures are above 1% as traders wait for more clarity about the court’s move to block the tariff of Trump.
