Good Morning, Asia. Here's what's making news in the markets:

Welcome to Asia Morning Briefing, a daily summary of top stories during U.S. hours and an overview of market moves and analysis. For a detailed overview of U.S. markets, see CoinDesk's Crypto Daybook Americas.

Keep an eye on ETH, is what fund manager March Zheng is telling investors.

As Asia begins its business day, ETH is trading above $2,500, down 0.4%. While this might not seem like a lot in the volatile world of crypto, ETH has defied the odds and is up 40% on-month, which is impressive because its performance is only matched by memecoin stalwarts like PEPE, and Decentralized Finance lending protocols like AAVE. The latter's performance has helped push up Total Value Locked (TVL) in Ethereum past $60 billion.

Zheng, the

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