Good morning, Asia. This is the reason for the news in the market:
Welcome to Asia Morning Post, a summary of daily summary during US time, and an overview of market movement and analysis. For a detailed overview of the U.S. market, see American.
Long-term XRP mania from last year pushing 400% rally Proudly call yourself useless with the obsession of today’s targets.
$Useless phenomenon DNTV Research’s Seoul analyst Bradley Park, who has ties to South Korea’s Kols, told Coindesk in an interview.
At the center of everything is Yeomyung, a Korean KOL and liquidity provider who fell into useless range early on, through a 50% reduction and are now sitting on serious paper gains.
“He made a huge profit during the run of Trump coins and was useless, and he also made early days from (providing liquidity) and now just hold it,” Parker told Coindesk. “They are all just waiting for the CEX list because without it, there is no way to really exit.”
Parker tracked Yeomyung’s wallet activity and noted that his early beliefs inspired copy trading for Korean retail investors. Even insiders bundled wallets on Solana Jupiter
hold. The rise of uselessness reflects a wider development of Korean market behavior.
“I really think that Korean users in this market are no longer just exiting liquidity,” he said. “They are starting to understand the market and grow into real global players.”
Another character in this story is Bunk guy,,,,, Bunker’s early sponsorafter the price rebounded, he reappeared on enthusiastic Twitter, although some South Korean businessmen, including Parker, questioned his sincerity.
“Bonk Guy was the first Shill Letsbonk guy,” Parker said. “But after the price crash, he was silent.
Parker notes that hyperliquidity, Kaia and now Solana-based monuments (like useless) are evidence that South Korea is no longer a secondary market.
Parker said that while the XRP rally was underpinned by US legal clarity and narratives about the Trump-era deregulation, the useless feeling was less like a confusion, but more like a reflection of the focus and exhaustion of the place.
It has no roadmap, no utility, and no pretending to build something bigger, it weakens a meme disillusionment: collective shrugs to traditional cryptocurrency commitments, and paradoxically, paradoxically, this seems more honest than many tokens claiming to change the world.
Trump endorses genius bill
President Donald Trump endorsed the Genius Act on Tuesday Truth Society Position After bipartisan passage in the Senate, Call it an important step towards U.S. leadership in digital assets.
Trump urged the House to pass the bill “fast lightning” without an amendment, noting that it should be sent to his desk with “no delays, no add-ons.”
The information marks strong enforcement support for guiding and establishing the U.S. Stablecoins (GENIUS) bill and establishing national innovation, which introduces reserves and compliance requirements for US dollar-backed Stablecoin issuers and marks the first major legislation in Crypto legislation to clear the Senate.
Trump has positioned the legislation as the key to achieving “massive investment” and “big innovation”, positioning the United States as a global leader in digital assets.
Although the bill passed the Senate with bipartisan support, its fate in the House remains uncertain.
Democratic lawmakers are weighing potential amendments, including strict supervision of foreign-issued tokens and restrictions on potential issuers.
However, the bill is not without critics. In recent Coindesk editorialJames J. Angel, a professor of finance at Georgetown University, believes that the Genius Act is a flawed legislation because of the 55 regulatory agencies’ oversight, redundant processes, excluding stability of interest and inefficient joint rulemaking.
News Overview: Coinbase unveils businessman’s co-payment
Coinbase (Coin) announced Coinbase payments on Wednesday Coindesk previously reportedThis is a new merchant payment stack based on its Ethereum layer 2 network.
The product allows global e-commerce platforms like Shopify to accept USDC 24/7 without blockchain expertise, using tools such as airless stable signatures, e-commerce API engines, and OnChain Payments protocols.
Coinbase said the system is designed to replicate traditional payment tracks while reducing costs and providing always-on settlement options. The launch location competes with fintech companies like Stripe and Paypal to play modern payments against blockchain infrastructure in the competition.
It also deepened its partnership with USDC issuer Circle (CRCL), which saw its share price rise 25% in the news, while Coinbase rose to 16%. Coinbase said Stablecoins processed $300 trillion in transactions last year, three times the previous year, and bets that the programmable, fixed dollar payments will continue to undermine the global financial stack.
Market changes:
- BTC: Despite the analysis of Coindesk Research data, Bitcoin recovered in a V-shaped compensation of more than $105,000 despite the escalation of tensions in Israel-Iran, the strong inflows and main support of the ETF, focused on the institutional confidence of Coindesk Research data at a price of $103,650.
- ETH: Despite Middle East tensions, Ethereum holds more than $2,500 in stake with a 4% rebound, and the accumulation and accumulation signals of investors have created a record-breaking cumulative signal amid market volatility.
- Gold: Gold fell from 0.19% to $3,383.11 after the Fed stabilized interest rates at 4.25–4.5%, and Chairman Powell said the upcoming policy changes, despite trade tensions, did not emphasize on sustained economic strength.
- Nikkei 225: Japan’s Nikkei 225 fell 0.27% on Thursday as trades in the Asia-Pacific markets were mixed together, under pressure from the Federal Reserve’s pause and ongoing Israel-Iran tensions.
- S&P 500: The S&P 500 fell 0.03% to 5,980.87 after the Fed maintained steady interest rates, and Powell showed that Powell expressed treatment in uncertainty about Trump’s tariffs.
