Good morning, Asia. This is what makes news in the market:
Welcome to Asian morning briefings, daily summary of top stories throughout the US time, and an overview of market movements and analysis. For a detailed overview of the US market, see Coindesk’s Crypto Daybook Americas.
Despite the hugely successful revenue from Tech Giants Microsoft (MSFT) and Meta, artificial intelligence (AI) majors have fallen slightly.
Microsoft’s cloud revenues rose 27% to $46.7 billion, while Azure exceeded $75 billion a year as demand for AI workloads pushed data center capacity beyond 2 gigawatts. Meanwhile, Meta reported a 22% year-on-year revenue increased to $47.5 billion, with an operating profit margin of 43%. With the AI-powered AD model, the AI-powered AD model has increased conversions by up to 5% as engagement on Facebook and Instagram has skyrocketed.
Coingecko’s AI token category. This saw a 1.4% drop in majors such as Tao, Near, ICP, Render and more. In contrast, the Coindesk 20, the world’s largest measure of digital assets’ performance, is flat and under 4,000 transactions.
Typically, AI tokens move in sync with revenue from Big Tech. Nvidia’s record-breaking rally in 2024 helped categories push beyond their $10 billion market capitalization, but Bitcoin’s control in the first half of 2025 pushed categories and other types of Altcoin to under $5 billion.
The Crypto World traders also took a breather, given the Fed’s recent message, explaining AI Tokens’ calm reception for MSFT and Meta’s success.
“While policies remained unchanged, Powell said that tariff-driven inflation could be beginning to add a layer of uncertainty that puts pressure on risky assets across the board,” market maker Enflux wrote in a note to Coindesk.
“With less predictable risk appetite fading and macro-messaging, the market may remain a retention pattern until participants clarify the direction of inflation and policy responses over the coming days or weeks,” Enflux continued.
Nvidia plans to report revenue until the end of August. Time will tell if the expected solid results of the GPU giant will serve as a catalyst for AI token growth.
Market movements:
BTC: Crypto Markets volatile on Wednesday as Hawkish’s remarks from Federal Reserve Chair Jerome Powell led to a liquidation of more than $200 million, leading to Bitcoin temporarily falling below $116,000.
ETH: Ether (ETH) has grown by 1.47% to over $3,800, just as Sharplink Gaming continues to bid on assets for its balance sheet.
Gold: Gold fell 1.17% on Wednesday to $3,288.02. US economic data has strengthened expectations that strong economic data reduces demand for safe havens and the Fed will stabilize.
Nikkei 225: The Asia-Pacific market mixed on Thursday as investors awaited an expected decision to shave new US tariffs on South Korea’s imports and stabilize the Bank of Japan’s expected decision.
S&P 500: The S&P 500 skated to 6,362.90 to 0.12% after POWELL Chairman showed that he did not recognize the impending interest rate cut amid tariff-driven inflation concerns.
Other locations in the code:
Trump’s top cryptoman: US debt thrives and guarantees that Bitcoin reserves are coming (coindsk) Polygons suffer an hour’s halt after a complex hard fork (block) 10 years later, Ethereum itself has been rebuilt again without compromising its value, says a member of the community (block) (block)
