MARKETS DAILY: Crypto Update | Breaking It Down – DeFi, RWAs, Web3 and AI Developments With Marcin Kaźmierczak and Alex Felix
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 23 January 2024
⏱️ 14 minutes
🧾️ Download transcript
Summary
The latest price moves and insights with Jennifer Sanasie, featuring guests Marcin Kaźmierczak, cofounder of RedStone, and Alex Felix, managing partner and chief investment officer at CoinFund.
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Today's "Markets Daily" starts with a minute of markets updates, followed by two deep dives into crypto sectors listeners might not be as familiar with. First, RedStone Cofounder Marcin Kaźmierczak explains what's trending in the world of DeFi, including real-world assets (RWAs) and liquid staking and yield generation, also known as LSD-Fi. Next, CoinFund Chief Investment Officer Alex Felix dives into the Web3 corner of crypto, recapping key infrastructure improvements that might propel the adoption of Web3 technologies in 2024.
Note: At 0:58, “Below $38k” was mistakenly read instead of “Below $39k.”
This episode was hosted by Jennifer Sanasie. “Markets Daily” is executive produced by Jared Schwartz and produced and edited by Eleanor Pahl, alongside Senior Booking Producer Melissa Montañez. All original music by Doc Blust and Colin Mealey.
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Transcript
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| 0:00.0 | It's Tuesday, January 23rd, 2024, and this is Markets Daily from Coindesk. |
| 0:10.9 | I'm your host, Jen Sanassi. Let's get right into the show. |
| 0:19.3 | First, I'll be passing it off to our producer, Eleanor Paul, to read out today's markets updates. |
| 0:24.9 | And stay tuned after, Marston Kazimirchak, co-founder of Redstone, speaks about real-world assets, |
| 0:31.2 | the competition between Ethereum and Solana, and what's coming up for Defi this year. |
| 0:36.0 | Next, Alex Felix, chief investment officer of Coin Fund, |
| 0:40.1 | speaks about upcoming crypto infrastructure improvements, |
| 0:43.0 | tokenization, and the intersection of Web 3 and AI. |
| 0:49.3 | According to CoinDesk indices, at 8 a.m. Eastern Time, |
| 0:53.3 | Bitcoin was trading down over 4% in the |
| 0:55.8 | past 24 hours, dropping below $38,000 for the first time in two months. It has since regained |
| 1:02.0 | slightly, sitting at $39,011. Ether has fared a little worse, falling nearly 6.5% over the same time |
| 1:10.5 | period, to $2,221, returning to its |
| 1:14.5 | price levels prior to the spot Bitcoin ETF approvals. And it's certainly looking to be a red |
| 1:20.0 | day for other crypto assets. Major tokens continue to slide, including Solana and Avalanche's |
| 1:25.5 | AVACs, both down 9%, while Cardano, Dogecoin, |
| 1:29.4 | Pocod, and Chainlink all fell around 7%. |
| 1:32.3 | Today's mover in the Coin Desk Market Index is Merit Circle, ticker MC, down 19% on the day. |
| 1:40.2 | In traditional markets, both the NASDAQ and the S&P 500 rose slightly in Monday's trading session, |
| 1:45.9 | with the S&P 500 reaching a record high for the second consecutive day. |
| 1:50.7 | And in commodities, the Brent crude oil benchmark was trading at $79 and 42 cents a barrel. |
| 1:56.7 | Meanwhile, gold was trading at $2,026 an ounce. |
... |
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