MARKETS DAILY: CoinDesk Market Index Week in Review

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CoinDesk

Business News, Daily News, News, Tech News

4.7 • 698 Ratings

🗓️ 12 January 2024

⏱️ 5 minutes

🔗️ Recording | iTunes | RSS

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Summary

CoinDesk Indices presents six notable market movement highlights from last week. To get the show every day, follow the podcast here. The CoinDesk Market Index (CMI) functions as a benchmark for the performance of the digital asset market, delivering institutional quality information to digital asset investors. Today’s takeaways are provided by Tracy Stephens, senior index manager of CoinDesk Indices with additional analysis from Miguel Kudry, CEO of L1 Advisors. For more on the CMI you can visit: coindeskmarkets.com. This episode was hosted by Noelle Acheson. “Markets Daily” is executive produced by Jared Schwartz and produced and edited by Eleanor Pahl. All original music by Doc Blust and Colin Mealey. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Transcript

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0:00.0	Happy Friday, everyone. This is Markets Daily from CoinDesk. I'm your host, Jen Sanassi, and on today's show, we're passing it over to Coin Desk Indices for some weekly market insights.
0:19.6	Wondercraft AI voice here to give you three crypto markets takeaways from last week.
0:24.1	And stick around at the end.
0:25.5	We'll have additional analysis from Miguel Kudry, CEO of L1 advisors.
0:29.8	First, Tracy Stevens, senior index manager of Coin desk indices, provides markets highlights as of Friday, January 12th.
0:44.3	Following the announcement of SEC approval of a Bitcoin-spot-E-F, Bitcoin up 4.3% week-to-date lags among the largest assets by market cap. Ethereum leads among that group, up 18%, followed by Cardano, up 11%.
0:53.3	Decentralized mobile network platform helium is up an additional 43% week to date amid the announcement of smart contract changes from the Helium Foundation.
1:02.0	Ethereum name service, up 99% week to date, leads among the 184 digital assets in the broad market, coin desk market index.
1:10.0	This comes following comments by Vitalik Buterin that Ethereum name service is, quote, super important.
1:17.1	Miguel Kudry, CEO of L1 Advisors, writes, Thursday, January 11th, marked a historic turning
1:22.6	point in the financial world.
1:24.4	Bitcoin crossed the chasm.
1:25.6	The U.S. Securities and Exchange Commission in a landmark decision
1:28.8	greenlit the launch of the Bitcoin ETF. This move, forced by the D.C. Court of Appeals,
1:34.6	signifies a watershed moment for the entire crypto industry. Before we dive into the implications
1:40.5	of the new ETF, let's look at how the markets reacted. Ethereum and its ecosystem
1:45.2	may perhaps be the biggest winner from a price action standpoint. A digitization is leading the weekly
1:50.7	charts of the CMI sectors up 99%, driven by a rally of Ethereum name service and continued adoption
1:57.0	and development of other projects. As markets chase the next narrative, perhaps that of
2:01.6	an ether ETF, we are watching the defy and computing sectors closely over the next few weeks.
2:07.5	The debut of the Bitcoin ETF was the biggest ETF launch for a single asset of all time,
2:14.2	with an astonishing $4.6 billion worth of shares traded on its first trading day.
	...

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