Coindesk

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.As East Asia begins its trading day, bitcoin (BTC) is changing hands at just over $115K, staging a modest rebound from last week’s selloff that saw over $1 billion in leveraged longs liquidated and BTC briefly test $113K.The bounce comes amid signs of stabilization in institutional flows, with Bitwise reporting $18.74 million in net inflows, a potential reversal after one of the largest ETF outflow days on record last Friday.The latest correction, which marked BTC’s third straight Friday...

The price of LINK (LINK), native token of oracle provider Chainlink, climbed 4% on Monday extending its rebound from late last week's crypto carnage.The token hit $17 during the session, up nearly 10% from the weekend lows, CoinDesk data shows.The move occurred as Chainlink rolled out market data feed for U.S. Equities and ETFs, aiming to connect traditional financial instrument with on-chain capital markets. Chainlink Data Streams now provide "real-time, high-throughput pricing" for assets such as SPY, QQQ, NVDA, AAPL, MSFT, and other instruments across 37 blockchain networks, according to a blog post. The feature enables use cases such as tokenized stock trading, perpetual futures and synthetic ETFs on blockchain rails.Solana-based DeFi protocol Kamino and decentraliized perpetuals trading venue GMX...

Figure Technology Solutions said on Monday it has filed confidential paperwork with the U.S. Securities and Exchange Commission (SEC) to go public later this year.Figure is joining a growing list of digital asset firms aiming to go public, seeking capitalizing on the booming cryptocurrency and stock markets and recent U.S. regulatory advancements after Donald Trump took office with a pro-crypto agenda. Earlier this year, USDC (USDC) stablecoin issuer Circle (CRCL) had a blockbuster debut on the Nasdaq, with shares zooming to $300 from the IPO priced at around $30. Custodian BitGo, asset manager Grayscale and exchange operator and CoinDesk owner Bullish filed for IPOs as well.Figure, founded by former SoFi CEO Mike Cagney, has played a key role in the...

The price of BNB climbed nearly 2% in the past 24 hours to top the $760 mark, with data showing a burst of activity behind the price rise.Volume spiked nearly 50% above daily averages, according to CoinDesk Research's technical analysis model. The price action followed a textbook two-phase accumulation: early consolidation, then a breakout driven by coordinated buying that pushed through technical resistance levels.This tailwind coincides with recent developments from Binance, a key player in BNB’s ecosystem. The crypto exchange launched a web version of its Binance Wallet, letting users approve trades for up to seven days in advance to reduce friction for high-frequency or active traders.Binance also opened bitcoin options writing to all users, removing VIP restrictions. Traders still...

NEAR Protocol delivered a standout performance during the 24-hour trading window from August 3 at 15:00 to August 4 at 14:00, rallying 4.20% from $2.43 to $2.53. This price action was driven by a sharp uptick in trading activity, notably during the final hour when volume spiked to 2.7 million tokens—more than double the daily average. The rally underscores growing institutional interest, evidenced by consistent high-volume accumulation zones and a decisive breakout that breached several key resistance levels.Contributing to NEAR’s momentum was fresh progress in its ecosystem. Aurora Labs showcased five early-stage startups from its Aurora Blocks Incubator, each building EVM-compatible Virtual Chains powered by NEAR’s infrastructure. These initiatives signal a maturing development pipeline and increasing demand for scalable, interoperable...