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Good Morning, Asia. Here's what's making news in the markets:Welcome to Asia Morning Briefing, a daily summary of top stories during U.S. hours and an overview of market moves and analysis. For a detailed overview of U.S. markets, see CoinDesk's Crypto Daybook Americas.ETH's chances of hitting $5,000 this month climbed to 26% on Polymarket, up from 16% just a few days ago, as traders priced in momentum from institutional accumulation and shifting BTC-ETH flows.“Ethereum’s recent strength is mainly showcased by the level of flows into it, where a major liquidity floor has been built by institutions,” said March Zheng, General Partner at Bizantine Capital in a note to CoinDesk.He added that the ETH/BTC ratio had been sitting at a localized...

Altcoins bounced back sharply on Tuesday after a steep sell-off over the prior 48 hours, with traders seizing lower prices as an opportunity to re-enter the market.XRP led the recovery, gaining 6% over the past 24 hours. Solana (SOL) and dogecoin (DOGE) each climbed about 4.5%, while ethereum (ETH) added 5% over the same period. Open interest across these tokens also ticked higher, signaling renewed speculative activity. XRP once again stood out, with its open interest rising 4.2% in the past day.The uptick comes as CME Group announced earlier Tuesday that its crypto futures suite surpassed $30 billion in notional open interest for the first time. SOL and XRP futures each crossed the $1 billion mark, with XRP becoming the...

One of the crypto industry's central lobbying aims — to protect software developers from being held legally responsible when criminals abuse their technology — may be in jeopardy from Democrats led by U.S. Senator Mark Warner, according to people familiar with legislative negotiations.The Senate is set to return to work in Washington next week, with the completion of a crypto market structure bill as one of its top agenda items. In the bipartisan talks over that bill, Warner is said to have held reservations about the approach in the U.S. House of Representatives’ version of the bill known as the Digital Asset Market Clarity Act, which gave developers legal cover, according to three people with knowledge of the negotiation.Warner, a...

Hut 8 (HUT), a public bitcoin (BTC) mining and energy infrastructure firm, surged Tuesday after revealing plans to more than double the company's power capacity.The plans include the development of four new sites across the United States with more than 1.5 gigawatts (GW), expanding total power capacity to over $2.5 GW across 19 locations, according to a press release.The stock rose more than 10%, hitting a seven-month high just shy of $26 per share even as bitcoin prices remain stuck in the doldrums below $110,000.Data center firms are enjoying renewed investor interest as demand for computing power soars to fuel artificial intelligence innovation. Recently, tech giant Google took a minority stake in bitcoin miner TeraWulf as part of a $3.2...

News BackgroundCME Group said its crypto futures suite has surpassed $30 billion in notional open interest for the first time, with SOL and XRP futures each crossing $1 billion. XRP became the fastest contract to hit the milestone, doing so in just over three months.The development is viewed as a signal of market maturity and new institutional capital entering derivatives.Broader crypto markets remained firm into late August, though regulatory overhang in the U.S. has continued to pressure XRP relative to peers.Corporate adoption trends and pilot remittance programs keep XRP in focus for treasury desks, even as volatility spikes test investor conviction.Price Action SummaryXRP traded through a 5% range between $2.98 and $2.84 in the 24-hour session ending August 26 at...