Conceptually, I prefer an asynchronous standup, as it would allow everyone to participate without disrupting peak productivity. However, I’ve found that not everyone reliably engages with asynchronous updates, which limits its effectiveness. I think the one benefit of synchronous stand-ups is it forces individuals captivity and attention.
Unless the team has problems, there is a constant asynchronous information exchange between team members. Excepting for a couple of places I've been at that were dysfunctional, I've never been a part of a standup where somebody said something the rest of the team wasn't already aware of.