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Ether soars past US$4,300, gold hits US$3,400: Is a new duty rule about to crash the market?

Ether soars past US$4,300, gold hits US$3,400: Is a new duty rule about to crash the market?

A wave of cautious hope surrounding a potential Russia-Ukraine ceasefire has buoyed global risk sentiment, propelling US stock markets to their strongest weekly performance since June. The S&P 500 climbed 0.8 per cent, the Nasdaq surged one per cent, and the Dow Jones edged up 0.5 per cent, primarily driven by a rally in big technology stocks. This optimism stems from reports of diplomatic engagements, including a confirmed meeting between Presidents Vladimir Putin and Donald Trump, which has sparked speculation about a possible de-escalation in the Russia-Ukraine conflict.

Such a development could alleviate a significant geopolitical overhang, fostering a more favourable environment for risk assets. This positivity is tempered by uncertainties in US monetary policy, trade dynamics, and the evolving role of cryptocurrencies, particularly stablecoins, in reshaping global finance.

The US stock market’s recent gains reflect a broader market narrative of resilience amid geopolitical and economic crosscurrents. The technology sector, a perennial driver of market momentum, has been at the forefront, with companies like Nvidia and AMD playing pivotal roles. Reports indicate that these chipmakers have agreed to remit 15 per cent of their China chip sales revenue to the US government to secure export licenses, a move that underscores the intricate balance between national security and economic interests.

This agreement, while facilitating continued access to the lucrative Chinese market, has sparked debate about its legality under the US Constitution, which prohibits export taxes. Critics argue it could set a precedent for unconventional trade policies, while supporters view it as a pragmatic compromise to maintain technological competitiveness. The deal highlights the strategic importance of semiconductors in global trade, particularly as tensions between the US and China intensify. Despite these complexities, the tech-driven rally in US equities signals investor confidence in the sector’s long-term growth prospects, even as trade uncertainties loom.

In the bond market, US Treasuries experienced a decline last Friday, with yields rising by 3 to 5 basis points across the curve in a subdued trading session. Investors remain focused on the Federal Reserve’s leadership transitions, particularly President Trump’s nomination of Stephen Miran, Chairman of the Council of Economic Advisers, for a Fed governor role. This appointment has fuelled speculation about a potential shift toward a more dovish monetary policy stance, as Miran’s economic philosophy aligns with Trump’s preference for lower interest rates to stimulate growth.

The US Dollar Index, which dipped 0.22 per cent, later recovered some ground following this news, reflecting market sensitivity to Fed leadership changes. The anticipation of upcoming inflation data, with the Consumer Price Index (CPI) report due on Tuesday and the Producer Price Index (PPI) report on Thursday, adds another layer of complexity.

Federal Reserve Chair Jerome Powell’s recent comments at the Federal Open Market Committee meeting, suggesting that a September rate cut is less likely and will hinge on macroeconomic data, have tempered expectations for immediate easing. These reports will be critical in shaping the Fed’s policy trajectory, as persistent inflationary pressures could force a more hawkish stance, impacting both equity and bond markets.

Geopolitical and policy developments have also swayed commodity markets. Gold prices surged to nearly US$3,400 per ounce after a US government agency ruled that gold bars would be subject to duties, triggering volatility in bullion markets. The White House’s promise of a forthcoming clarification has done little to quell uncertainty, as investors grapple with the potential cost implications for gold as a safe-haven asset.

Meanwhile, Brent crude prices remained unchanged after a volatile session, reflecting the market’s indecision amid ceasefire optimism and ongoing geopolitical risks. The stability in oil prices suggests a wait-and-see approach, as traders assess whether reduced tensions in Eastern Europe could ease supply concerns or if other global factors, such as US tariffs, might sustain price pressures.

In Asia, equity indices opened with mixed performance, signalling varied regional responses to global developments. US equity index futures, however, point to a positive opening, suggesting that the momentum from last week’s rally may persist. This divergence underscores the fragmented nature of global risk sentiment, where local economic conditions and policy responses shape market outcomes.

For instance, Hong Kong’s Hang Seng index has benefited from a recovery in Chinese technology stocks, driven by President Xi Jinping’s public engagement with tech leaders, signalling a potential easing of regulatory pressures. This contrasts with mainland China’s more subdued market performance, highlighting the nuanced dynamics within Asian markets.

The cryptocurrency market has emerged as a focal point of investor enthusiasm, propelled by significant policy shifts in the US Bitcoin soared past US$121,000, and Ethereum reached US$4,300, fuelled by President Trump’s executive order exploring the inclusion of cryptocurrencies in 401(k) retirement accounts. This move, which also considers private equity, could unlock substantial demand by opening millions of American retirement portfolios to higher-risk assets.

Spot Ethereum exchange-traded funds (ETFs) have outpaced Bitcoin ETFs, attracting US$461 million in inflows over the past week, reflecting robust institutional interest. Ethereum’s price, now 11 per cent below its all-time high of US$4,878, may continue to outperform Bitcoin if these inflows persist. The influence of large corporate treasuries, as noted by industry expert Anndy Lian, underscores their role in driving price action. Lian’s assertion that investors should remain steadfast as long as these treasuries continue buying highlights the market’s reliance on institutional momentum.

Stablecoins, a subset of cryptocurrencies pegged to assets like the US dollar or Bitcoin, are reshaping the competitive landscape between the US and China. In Hong Kong, new legislation aims to position the city as a global hub for stablecoins and Web3 technologies, which leverage blockchain for decentralised internet applications. This strategic pivot seeks to restore Hong Kong’s stature as a financial powerhouse amid intensifying global competition.

In the US, the Trump administration’s embrace of cryptocurrencies, bolstered by campaign support from crypto advocates, signals a proactive approach to integrating digital assets into mainstream finance. The passage of stablecoin regulations in both jurisdictions underscores their potential to revolutionise global finance by offering stable, blockchain-based alternatives to traditional currencies. This rivalry carries risks, as stablecoins could disrupt monetary policy frameworks and challenge the dominance of fiat currencies like the dollar and renminbi.

From a personal perspective, the convergence of these developments paints a picture of a world at a financial crossroads. The optimism surrounding a potential Russia-Ukraine ceasefire offers a glimmer of hope for stabilising global markets, but the path forward remains fraught with uncertainty. The US stock market’s resilience, driven by technology giants, reflects a broader trend of innovation outpacing geopolitical and economic headwinds. The reliance on tech stocks raises concerns about market concentration and vulnerability to sector-specific shocks.

The Federal Reserve’s cautious stance on rate cuts, coupled with upcoming inflation data, suggests that monetary policy will remain a critical determinant of market direction. The cryptocurrency surge, particularly in stablecoins, signals a transformative shift toward decentralised finance, but it also introduces new risks, including regulatory ambiguity and market volatility. The US-China rivalry over stablecoins and Web3 technologies underscores the strategic importance of digital innovation, but it also highlights the potential for economic fragmentation if competitive tensions escalate.

As markets continue to evolve, adaptability and informed decision-making will be paramount in capitalising on emerging opportunities while mitigating inherent uncertainties.

 

Source: https://e27.co/ether-soars-past-us4300-gold-hits-us3400-is-a-new-duty-rule-about-to-crash-the-market-20250811/

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

www.anndy.com
j j j

The Hard Truth About Launching a Token: Why Most Fail and How to Succeed

The Hard Truth About Launching a Token: Why Most Fail and How to Succeed

The cryptocurrency space has become a playground for innovation, speculation, and ambition. For many, the idea of launching a token feels like the ultimate entrepreneurial pursuit—a chance to disrupt industries, build a loyal community, and achieve financial independence. But while the dream is enticing, the reality is far more brutal. Most tokens fail. And they don’t just fail quietly; they collapse in spectacular fashion, leaving behind a trail of disappointed investors, wasted resources, and shattered reputations.

Having spent years immersed in the crypto ecosystem, I’ve seen this cycle repeat itself more times than I can count. I’ve invested in countless projects, from angel rounds to presales, Series A, and beyond. I’ve watched some of these projects soar to unimaginable heights, while others crumbled under the weight of poor planning, unrealistic expectations, and a lack of strategic foresight. The difference between success and failure is rarely luck. It’s almost always about preparation, execution, and strategy. Yet, time and again, I see founders making the same mistakes: underestimating costs, overpromising utility, and neglecting the fundamentals of community building.

If you’re a developer or entrepreneur considering launching a token, let me be clear: this is not a game for the unprepared. The crypto market is unforgiving, and the margin for error is razor-thin. But with the right approach, it’s possible to navigate the chaos and emerge on the other side with a successful project. Let’s explore the hard truths of token launches and the steps you need to take to avoid becoming another cautionary tale.

One of the most pervasive myths among new token founders is that listing a token on a centralized exchange (CEX) is a straightforward and inexpensive process. This couldn’t be further from the truth. In reality, securing a CEX listing is one of the most challenging and costly aspects of launching a token. And if you’re not prepared to shoulder these costs, your project is doomed before it even begins. Most reputable CEXs charge between $200,000 and $500,000 in fees. Some exchanges may offer alternative payment structures, such as accepting 5-20% of your token supply, but this is still a significant cost. Beyond the listing fee, you’ll also need to budget for audits, token integration, and security deposits. These are non-negotiable if you want your token to be taken seriously. And then there’s marketing. Once your token is listed, you’ll need to promote it aggressively. This includes everything from social media campaigns to influencer partnerships, which can easily cost tens of thousands of dollars.

Perhaps the most overlooked expense is liquidity. Without sufficient liquidity, your token will struggle to gain traction, and its price will be highly volatile—both of which are red flags for potential investors. This is where market makers (MMs) come in. MMs are essential for maintaining a healthy order book and ensuring that your token is tradable. They typically operate on one of two business models: a loan plus call option (where they borrow tokens and receive a call option on them) or a monthly retainer fee. Either way, you’re looking at another significant expense. The bottom line is simple: if you don’t have a substantial budget—think seven figures—you’re not ready to launch a token. Start applying to multiple exchanges early, and use competing offers as leverage to negotiate better terms. But remember, without proper funding, your token is dead on arrival.

In the crypto world, your documents are your first impression. They’re the lens through which exchanges, investors, and potential users will evaluate your project. If your documents are sloppy, incomplete, or riddled with errors, you’ll be dismissed as an amateur. And in a market as competitive as crypto, there’s no room for amateurs. Your whitepaper is the cornerstone of your project. It should articulate your vision, outline your roadmap, and explain your protocol in detail. A good whitepaper doesn’t just inform—it inspires. Investors want to know how your token will be used, how it will be distributed, and whether it has long-term value. Your tokenomics document should answer these questions with precision and clarity. Security is paramount in crypto, so a comprehensive audit from a reputable firm is essential for building trust. Compliance is no longer optional, and you’ll need to prove that your token and entity are legally sound, especially if you’re targeting regulated markets. Finally, your pitch deck is your opportunity to sell your project. Highlight your traction, cap table, and last valuation. Make it compelling. Exchanges are inundated with token applications. A flawless application is the bare minimum if you want to stand out. Don’t cut corners here—invest in professional help if necessary.

If there’s one universal truth in crypto, it’s this: tokens without communities are destined to fail. Your community is your lifeline. It’s what drives adoption, creates buzz, and sustains your token in the long run. But building a community isn’t as simple as creating a Telegram group and hoping for the best. It requires strategy, effort, and resources. Start by establishing a strong presence on the platforms that matter most in crypto: X (formerly Twitter), Telegram, and Discord. These are where your potential users and investors are. But simply being present isn’t enough. You need to actively engage with your audience, answer their questions, and address their concerns. This is where experienced community managers come in. Hire professionals who know how to keep your groups active and engaged. Gamification is another powerful tool for community building. Airdrops, rewards, and early access programs can incentivize participation and create a sense of loyalty among your users. But be careful—poorly executed gamification can backfire, attracting opportunists rather than genuine supporters. Community building isn’t just about numbers. A small, engaged community is far more valuable than a large, inactive one. Focus on quality over quantity.

The crypto space is a cacophony of voices, each vying for attention. If you’re not strategic about your marketing, you’ll be drowned out by the noise. Visibility builds credibility, and credibility drives adoption. Publishing deep-dive articles on platforms like Delphi Digital and Messari can help establish your credibility and attract serious investors. Partnering with key opinion leaders (KOLs) can amplify your message and introduce your token to their followers. Choose KOLs with engaged audiences and proven track records. Hiring a top marketing agency can also make a huge difference. Look for agencies with experience in the crypto space and a history of successful campaigns. Marketing is an ongoing process. Don’t stop once your token is listed. Keep promoting it to maintain interest and drive adoption.

Sometimes, it’s the small details that make or break a token launch. Listings on aggregators like CoinGecko, CoinMarketCap, and DefiLlama are essential for visibility. Make sure your token is listed on these sites as soon as possible. On-chain analytics tools like Dune dashboards can showcase your token’s metrics, building transparency and trust. Platforms like Token Terminal and DexScreener can help users track your token’s performance. These details may seem minor, but they can have a big impact on your token’s success.

Launching a token isn’t just a technical process—it’s a business decision. It requires a clear plan, a strong community, and enough funding to see it through. If you skip any of these steps, you’re setting yourself up for failure. The crypto space is filled with opportunities, but it’s also filled with risks. Don’t underestimate the challenges of launching a token. Take the time to do it right, and you’ll increase your chances of success. Remember, a token launch is just the beginning. The real work starts after your token is live. Build a strong foundation, and you’ll be better prepared to navigate the challenges ahead. In the end, the success of your token will depend on your ability to execute your vision, adapt to challenges, and build a loyal community. It’s not easy, but with the right strategy, it’s possible. Don’t be the founder who skips the basics. Be the founder who sets a new standard for success.

 

Source: https://www.securities.io/the-hard-truth-about-launching-a-token-why-most-fail-and-how-to-succeed/

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

www.anndy.com
j j j

What you should know about how tokenised digital money helps with safer transactions

What you should know about how tokenised digital money helps with safer transactions

Like most Singaporeans, Mr Leslie Koh, 50, welcomed the $300 worth of Community Development Council (CDC) vouchers he received.

He was one of over 1.1 million, or 90 per cent, of Singaporean households who had claimed the third tranche of the vouchers within a month of its launch in January.

The vouchers were part of the Government’s measures to support Singaporeans with cost-of-living concerns. Of the $300, half could be used at participating hawker stalls and heartland merchants’ stores, and the other half at participating supermarkets.

Residents claim the vouchers at go.gov.sg/cdcv. They will receive a link on their verified mobile numbers, where vouchers in fixed denominations of $2, $5 and $10 can be accessed.

To use them, you select the amount, get a QR code, and show it to participating merchants to scan and complete the transaction. The current tranche of vouchers will be valid until Dec 31, and can be claimed any time until then.

“My wife and I found the CDC vouchers convenient and easy to use,” says Mr Koh, an editor at a Christian organisation. “We redeemed most of it at the neighbourhood hawker centre, provision shop and barber.”

So it seemed easy to use. But was it as easy for merchants to accept? Not quite.

The Problem

An AsiaOne report last year revealed that the scheme faced teething issues shortly after it was first launched to all Singaporean households in December 2021.

Some older hawkers were unfamiliar with accepting digital payments and tried to avoid accepting CDC vouchers. Others were short-handed and found it quicker to accept cash. Some hawkers shared that they were duped by consumers who used fake QR codes that did not result in any payment being made.

For voucher schemes like CDC, merchants must also sign separate contracts before joining a new phase of the campaign – even if they had participated in previous ones, notes the Monetary Authority of Singapore (MAS) in its Project Orchid White Paper released last November.

Project Orchid, launched by MAS in 2021, seeks to explore and experiment with the infrastructure needed to implement a digital Singdollar.

Money glossary

Retail Central Bank Digital Currency (CBDC): Digital equivalent of today’s notes and coins, issued by a central bank. It exists only in electronic form. In Singapore, it is known as a digital Singapore dollar (Singdollar).

Wholesale CBDC: Digital currency that is confined to interbank systems and does not enter the public space, used only by financial institutions.

Fiat currency: The money that we know and use every day, declared legal tender by a government. It can exist in digital or physical form.

Purpose-bound money: A protocol that sets the conditions upon which an underlying tokenised digital currency can be used.

Tokenisation: The process of converting an asset into a digital token on a blockchain, or digital ledger.

The voucher claiming process also requires all parties – such as the merchants, voucher issuer and bank – to ensure accurate cash flow. Any discrepancies could lead to a “long and costly dispute resolution process”, notes the MAS.

Nevertheless, interest among merchants has grown. The number of participating merchants increased from about 10,000 in 2021, to over 22,000 this year.

But is there a better way to administer such schemes?

The Possible Solution

Purpose-bound money (PBM) could potentially address these issues, says Ms Janet Young, managing director and head of Group Channels and Digitalisation at UOB.

PBM refers to a protocol that sets the conditions upon which an underlying tokenised digital currency can be used.

It controls how the money is spent by “wrapping” rules or conditions around it. These rules can limit spending to specific merchants or particular goods or services.

For example, the Government can use PBM to issue vouchers such as those by the CDCs, which can only be used at participating merchants, and cannot be used beyond the expiry date. If these conditions are met, the digital money is “unwrapped” and released instantly to the merchant during the transaction.

“PBMs, allocated for specific uses or goals, offer several benefits,” says Ms Young. “It promotes financial discipline, ensures funds are directed toward intended objectives, reduces the risk of misallocation, and addresses inefficiencies of the current voucher schemes.”

Intergovernmental blockchain expert Anndy Lian points out that PBMs can enhance payment security and transparency by ensuring that the underlying digital money is used only by the intended person, and for the specific reason spelt out in the PBM.

“PBMs can be used for anti-money laundering, counter-terrorism financing, or tax compliance purposes, where the underlying digital money is traceable and reportable,” Mr Lian explains.

To UOB, PBM is “an important element in the future of digital money as it enables money to be directed towards a specific purpose, without requiring the money itself to be programmed”, says Ms Young.

“As we uncover the potential of PBMs, we open doors to a future of digital money that can direct allocations, driving opportunities for innovation, value creation and efficiency.”

The Potential

MAS’ Project Orchid is exploring the use of PBMs, and various trials have been initiated with banks and the private sector on the applications of PBMs and a digital Singdollar. To support MAS’ efforts, UOB has run three pilot trials so far.

Last year, UOB partnered with SkillsFuture Singapore to explore how the disbursement of SkillsFuture credits for courses by overseas training providers could be enhanced, using a digital Singdollar issued by the bank. The pilot is expected to be completed by the end of the year.

More on the Future of Finance

At the Formula One festivities in September, UOB worked with Grab and fintech firm Fazz to launch the Singapore Pitstop Pack. Participants could use PBM-based commercial vouchers to make purchases. The vouchers can be used until the end of the year at over 200 participating merchants islandwide, and are available to locals and tourists.

Last month, at the Singapore Fintech Festival, UOB and OCBC ran a trial on the fungibility of a digital Singdollar and interbank settlement using a simulated wholesale CBDC. As part of the trial, participants could request PBM from one bank, and use it to claim a piece of merchandise from the other.

Ms Young says: “The successful completion of the last two pilots represents a significant stride in Singapore’s larger ambition to work towards a truly seamless financial ecosystem with domestic and cross-border applications.”

 

Source: https://www.straitstimes.com/business/what-you-should-know-about-how-tokenised-digital-money-helps-with-safer-transactions

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

www.anndy.com
j j j