What You Should Know:
- Uniswap’s UNI token jumped 5% following its highest monthly transaction activity since February, boosted by institutional demand.
- CEO Kaweewut Temphuwapat of SCB10X views AI and crypto as key growth areas, predicting increased investment opportunities in Asia with forthcoming U.S. regulations.
- Trader James Wynn is moving from significant bitcoin investments into memecoins, making a leveraged bet on Pepe.
Market Update for Asia:
Welcome to the Asia Morning Briefing, summarizing key stories during U.S. hours and providing market insights.
Market Highlights:
- The UNI token rose by 5% amidst a wider market decline seen in the CoinDesk20 Index.
- SCB10X’s CEO highlights the potential for Thai banks to hold cryptocurrency directly, facilitating through regulatory sandboxes.
- McDonald’s former high-stakes trader, James Wynn, shifts attention from substantial bitcoin positions to higher-risk memecoins, demonstrating significant returns.
Market Movements:
- BTC: Bitcoin remains steady around $109,000 despite fluctuations influenced by tariffs.
- ETH: Ethereum stays resilient over $2,500 due to institutional investments.
- Gold: Gold fluctuates but retains strength driven by uncertainty in tariffs.
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