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.The crypto market is flashing warning signs. Institutions are stepping back as they take profit, ETF inflows are collapsing, and bitcoin (BTC) looks rangebound as it struggles to challenge $120K.Market observers say that the focus now turns to Ether (ETH) and whether it can bring capital back into the fold.After BTC's brief touch of all-time highs, the market has entered a consolidation phase. Glassnode data shows institutional ETF inflows have dramatically cooled, plunging 80% this week to just...

Technology platform Bakkt (BKKT) is moving to complete its transition into a pure-play crypto infrastructure firm with the planned sale of its loyalty business, the company said in a press release Monday.The Nasdaq-listed company has entered into a definitive agreement to sell the unit to Project Labrador Holdco, a subsidiary of Roman DBDR Technology Advisors. The deal, expected to close in Q3 2025, includes $11 million in cash, adjustments for working capital and debt and a short-term restricted cash loan to facilitate the handoff.“With the pending sale of our Loyalty business, Bakkt is achieving a significant milestone and fully embracing its future as a streamlined, pure-play crypto infrastructure company,” Andy Main, president and co-CEO of Bakkt, said in the release.The...

With crypto policy now representing one of President Donald Trump's most concrete achievements in his second term, the White House is reportedly gearing up toward further moves to affix digital assets into a more prominent role in the U.S. economy.Trump is widely expected to soon issue an executive order that calls for American's retirement plans — the 401(k)s that represent a vast segment of U.S. investing — to open further to less traditional assets, which reportedly may include cryptocurrencies. If that comes to pass, it could ease a major portion of the investing public into digital assets, though it remains a market that still lacks formal U.S. rules.His administration's report on crypto demanded under Trump's January order on digital assets...

SUI, the native token of the Sui blockchain, is down nearly 6% over the past 24 hours, retreating to $4.04 after briefly jumping to $4.44 overnight. The move came on the back of a 32.37 million token volume spike, well above daily norms, before selling intensified and dragged prices lower, CoinDesk Analytics data shows.Bulls initially held the line at $4.32, but bears seized momentum as SUI slipped through key technical levels. The token closed the session at $4.11, a 5.25% drop. CoinDesk Analytics shows resistance now forming between $4.20 and $4.24, while a double-bottom appears to be developing at $4.08 to $4.09.Broader weakness in crypto markets may have added to the pressure. The CoinDesk 20 Index is down 1.4% over...

Solana (SOL) treasury activity continues to draw institutional attention after Nasdaq-listed consumer brand company Upexi Inc. announced a new $500 million equity line agreement on Monday. The facility, arranged with A.G.P./Alliance Global Partners, allows the company to issue common stock at its discretion, subject to certain closing conditions.In a press release, Upexi said the funds will be used for general corporate purposes and to expand its Solana treasury strategy, which has grown rapidly since the company began accumulating SOL earlier this year. The firm emphasized that the facility includes “no commitment fee” and was negotiated on “particularly friendly terms,” offering what Upexi described as an attractive cost of capital.“The equity line gives Upexi additional means and flexibility to raise capital...