MARKETS DAILY: Crypto Update | Ether ETFs, Validator Growth, and Uptober's Strong Start

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4.7 • 698 Ratings

🗓️ 2 October 2023

⏱️ 12 minutes

🔗️ Recording | iTunes | RSS

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Summary

Noelle Acheson, the mind behind the Crypto Is Macro Now newsletter, delves into ether ETFs, Ethereum staking, macro moves, and more. Today's episode is sponsored by CME Group. Today’s Stories: Evergrande: China Comes Under Growing Pressure to Fix the Country’s Housing Market - WSJ Grayscale Moves to Convert Its Ethereum Trust to a Spot ETH ETF The Most Pressing Issue on Ethereum is Validator Size Growth Staking Week 2023 - From our sponsors: CME Group Cryptocurrency futures and options provide market-leading liquidity for bitcoin and ether trading. These cash-settled contracts give full exposure to crypto performance without the hassle of holding the physical position. No digital wallet? No problem. Trade nearly 24/7 in a transparent, CFTC-regulated market. Visit cmegroup.com/crypto to learn more. Disclaimer | This communication is not directed to investors located in any particular jurisdiction and is not intended to be accessed by recipients based in jurisdictions in which distribution is not permitted. The information herein should not be considered investment advice or the results of actual market experience. Past results are not necessarily indicative of future performance. Trading derivatives products involves the risk of loss. Please consider carefully whether futures or options are appropriate to your financial situation - This episode was hosted by Noelle Acheson. “Markets Daily” is executive produced by Jared Schwartz and produced and edited by Michele Musso. 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	This episode of Markets Daily is sponsored by CME Group.
0:08.2	It's Monday, October 2, 2023, and this is Markets Daily from CoinDeth.
0:14.2	My name is Noel Acheson, CoinDess collaborator, and author of the Crypto's Macro-Now newsletter on Substat.
0:20.0	On today's show, we're talking about Ether ETFs, Ethereum staking, macro moves, and more.
0:26.2	So you don't miss an episode, be sure to follow the podcast on your platform of choice.
0:30.4	And just a reminder, CoinDisc is a news source and does not provide investment advice.
0:48.1	October, as this month is known in some circles, is off to a strong start in crypto markets.
0:49.3	After a few days of gently drifting upwards, prices for Bitcoin and Ether jumped sharply yesterday afternoon,
0:55.4	with Bitcoin moving up almost 3% within just a few minutes.
1:00.1	There doesn't seem to be a clear catalyst for yesterday's sharp jump, which suggests
1:03.9	that it could have been triggered by a short squeeze. The crypto market has often seen these
1:08.2	before. They are usually unwound relatively swiftly, however,
1:11.7	this one, not yet anyway. Since yesterday's jump, the Bitcoin price has continued to climb,
1:17.1	and at 10 a.m. Eastern time this morning, it was trading at $28,500, according to CoinDesk indices,
1:24.1	up 4.8% over the past 24 hours. Ether was 2.3% higher, trading at $1,725. October is typically
1:35.3	a strong month for Bitcoin, with an average performance going back to 2011 of 25%. Bitcoin has delivered a positive
1:44.0	performance in October in each of the last four years,
1:47.8	yes, including 2022.
1:50.0	But patterns can be broken.
1:51.9	We saw this last month, as Bitcoin rose, almost 4%, breaking a six-year trend of negative September returns.
1:59.9	Other tokens are also rallying. Earlier today,
2:02.3	the tokens of Salana, Arbitrum, Optimism, Cosmos, and others were up between 3% and 4%
	...

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