Asian Equities Strong, CNH Falls Amid Tariff Threat and China Economic Work Conference Expectations

Several Asian countries, including Indonesia, Japan, Pakistan, South Korea, Taiwan, and Thailand, experienced gains of over 1% in their equities. The offshore traded renminbi fell against the US dollar early in the trading day, which could be due to President Trump's recent tariff threat or the Euro's rough outing. The Hang Seng and Hang Seng Tech indexes rose in Hong Kong, with energy and financials leading the gains. The US government added more than 130 foreign companies to its "Entity List," which requires additional licensing, and 22 Chinese provinces have announced plans to refinance RMB 1.673tn of hidden debt. Copper and steel prices gained while treasury bond prices fell.

Comments

All Comments

Recommended for you

Matrixport: Solana’s funding rate is currently as high as 70% annualized, and a price correction may occur

According to a report, Matrixport has released a chart today stating that Grayscale has submitted an application to convert Solana Trust into a spot ETF. Although the current asset management scale of the product is relatively small at $134 million, if approved, it will set an important market precedent for other ETF issuers. It is important to note that Solana's financing rate is currently as high as 70% annualized, which creates significant pressure on leveraged long positions. Historical experience shows that similar high financing rates are often related to price corrections, as was the case in March of this year when the SOL-USDT price fell under similar financing rate backgrounds.
Japanese Prime Minister Shigeru Ishiba is cautious about separate taxation of cryptocurrencies and approval of ETFs

Japanese Prime Minister Shizuo Shima expressed caution about the unified 20% separate taxation rule for cryptocurrency in a representative issue at a plenary session of the House of Representatives. "Is it appropriate to encourage investment in cryptocurrency such as stocks and investment trusts that have investor protection regulations? Will the public understand the idea of applying separate self-assessment taxation? There are several issues that need to be resolved. We need to consider it carefully." At the same time, "whether cryptocurrency should be included in ETFs depends on whether cryptocurrency is an asset that needs to be made more easily accessible to the public."
CointimeSG ·

Wall Street Bitcoin Miner BTC Digital Deploys 2,000 BITMAIN T21 Miners

The T21 miners feature 190T performance and 3610W energy usage per unit. The firm also plans to expand operations in Arkansas, Tennessee, Georgia, and Missouri.
Messari ·

State of Nym Q3 2024

Nym (NYM) is an open-source, incentivized, and decentralized physical infrastructure (DePIN) protocol that protects privacy at the network level of any application, wallet, or digital service. As a mixnet, Nym protects against traffic pattern analysis and metadata surveillance. Nym exists as a tool to facilitate private end-to-end internet communication between any application, in addition, Nym built a proprietary application on top of the Mixnet, NymVPN. As such, it is not exclusive to blockchain-related activities. However, the Nym mixnet is closely linked to the NYM token, which runs on the Nyx Cosmos-based appchain to enable permissionless ‘bonding’ of new mix nodes to the Nym network and to pay for mixnet services.
CointimeSG ·

Aptos Financial Ecosystem Analysis

Aptos (APT) is a Layer-1 blockchain designed around the core tenets of scalability, safety, reliability, and upgradeability. Aptos was born out of Meta’s Diem and Novi projects, eventually launching in October 2022. Core developer Aptos Labs raised about $400 million in two 2022 private investor rounds.
VitalikButerin ·

What I would love to see in a wallet

One critical layer of the Ethereum infrastructure stack, often underappreciated by core L1 researchers and developers, is the wallet. Wallets are the window between a user and the Ethereum world, and a user only benefits from any decentralization, censorship resistance, security, privacy, or other properties that Ethereum and its applications offer to the extent that the wallet itself also has these properties.
CointimeSG ·

The Crypto DevRel Trap

Why More Developers in Your Ecosystem Doesn't Translate Into More Adoption
CointimeSG ·

Ethereum’s North Star

Does Ethereum lack a “North Star,” and does it need one? Most Solana folks clearly think so, pointing to the success of their clear vision for “decentralized NASDAQ.” Similarly, Bitcoiners have a clear vision for non-sovereign sound money (“digital gold”). Celestia has a clear vision for unstoppable apps.
CointimeSG ·

Ripple's XRP, Bitcoin Take the Hit as Martial Law in South Korea Disrupts Markets

South Korean exchanges like Upbit and Bithumb experienced temporary trading volume spikes and performance delays. Bitcoin and XRP faced significant price volatility on South Korean exchanges, with temporary declines of up to 30%.
South Korea's ruling party may ask Yoon Seok-yeol to quit the party and propose the resignation of the entire cabinet and the dismissal of the defense minister

According to multiple media reports on December 4th, the ruling party of South Korea, the National Power Party, held an emergency meeting to discuss the measures to be taken after President Yoon Seok-yeol announced the lifting of martial law. Several attendees stated that they had reached a certain consensus on issues such as demanding Yoon Seok-yeol's resignation from the party, the resignation of the entire cabinet, and the dismissal of the Minister of Defense. Prior to this, Han Dong-hoon, a representative of the ruling party, stated that the president's decision to declare a state of emergency was wrong.