Happy Friday, everyone. I'm Jen Sanassi, and you're listening to Markets Daily from

Coin Desk. On today's show, we are passing it over to Coin Desk Indeces for some weekly

market insights. Chris Arulia, head of institutional at Bybit, the Coin Desk 20 index closed Wednesday,

up 1.4% week over week, and has

continued to rise in the hours since as the market absorbs the Federal Reserve rate cut announcement.

Bitcoin has responded well to the risk-friendly macro environment. Bitcoin is the second

best performing asset in the Coin Desk 20 this week. Ethereum hasn't responded with nearly as much exuberance.

It is near flat over the same seven-day period. Over the longer term, Avalanche is a clear

winner among large-cap digital assets. The Avalanche token is up more than 10% over the month.

The Ethereum alternative has leaned heavily into the institutional side of crypto in recent

months, which has coincided with the outperformance of its token. This was brought to you by

Tracy Stevens from Coin Desk Indices. Now here is market analysis from Chris Arulia, head of

institutional at Bybit. The much anticipated cut from the Fed has provided a level of optimism in the

markets. Historically, a rate cut has often led to an influx of capital from banks into the stock

market, as lower interest rates drive more investment into riskier assets, including digital

currencies due to the diminished returns from traditional investment vehicles.

Given this context, we anticipate that the recent rate cut could enhance market sentiment

and provide a short-term incentive for both retail and institutional investors

to diversify their portfolios by exploring and investing in cryptocurrencies.

However, the broader global economic slowdown,

stipulated by softer economic indicators and geopolitical complexities,

is tempering investor sentiment.

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