MARKETS DAILY: Crypto Update | Insights from Coinbase's Q3 Earnings Report
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 6 November 2023
⏱️ 12 minutes
🧾️ Download transcript
Summary
Noelle Acheson, the mind behind the Crypto Is Macro Now newsletter, explores trading volumes, layer 2 blockchains, U.S. business activity and more.
Today's episode is sponsored by CME Group and PayPal.
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Today’s Stories:
Coinbase Officially Launches Base Blockchain in Milestone for a Public Company
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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.
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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 | This episode of Markets Daily is sponsored by CME Group and PayPal. |
| 0:09.2 | It's Monday, November 6, 2023, and this is Markets Daily from CoinDesk. |
| 0:15.9 | My name is Noel Acheson, CoinDesk collaborator and author of the Crypto's Macronow newsletter on Substat. |
| 0:21.8 | On today's show, we're talking about trading volumes, layer 2 blockchains, business activity, and more. |
| 0:33.2 | So you don't miss an episode, be sure to follow the podcast on your platform of choice and turn on notifications. |
| 0:39.6 | Just a reminder, CoinDisc is a new source and does not provide investment advice. |
| 0:44.6 | Now, a markets round up. |
| 0:47.6 | Cryptomarkets had a relatively quiet yet positive weekend. |
| 0:52.0 | According to CoinDesk indices at 9 a.m. Eastern Time today, Bitcoin was trading at $35,066, |
| 0:58.0 | up 4 tenths per percent over the past 24 hours. |
| 1:02.0 | Ether was trading at $1,904, up 1.5%. |
| 1:07.0 | Elsewhere, Ripple's XRP token is up more than 13%, Uniswap and Stellar are up more than 7%, |
| 1:13.6 | and Avax and Filecoin are up over 5%. |
| 1:16.6 | A more optimistic sentiment does seem to be consolidating, and when it comes to Bitcoin, the |
| 1:22.6 | gentle upward slope of the price trajectory over the past couple of weeks suggests that the increases |
| 1:27.8 | are from a steady inflow of new demand. This is more organic, as opposed to the sharp moves |
| 1:33.9 | that we have seen recently, many of which were triggered by derivatives-related repositioning. |
| 1:39.0 | Hopefully this also means the trend is more sustainable than other upward moves we've seen |
| 1:43.3 | so far this year. |
| 1:49.6 | In macro indicators, we need to look at a data point from Friday that was somewhat overshadowed in the excitement about the soft employment report. We need to talk about the |
| 1:54.6 | US purchasing managers index, or PMI, specifically that for services. There are a few |
| 2:00.8 | PMI series published, but one of the main ones |
... |
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