MARKETS DAILY: Crypto Update | Is the Bull Market Over? And Why Stablecoins Aren't Hitting Centralized Exchanges?
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 2 May 2024
⏱️ 20 minutes
🧾️ Download transcript
Summary
The latest price moves and insights with Jenn Sanasie and Co-Founder and CEO at Nansen, Alex Svanevik.
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Alex Svanevik, Co-Founder and CEO at Nansen, joins "Markets Daily," to discuss the potential impact of interest rates, stablecoin issuance, and on-chain activity on the market.
Takeaways |
- The bull market in crypto may experience some choppiness in the coming weeks or months, but it is not over.
- Stablecoin issuance is high, but there is a mixed picture in terms of their use on centralized exchanges.
- The upcoming Eigenlayer airdrop and the future of layer twos in the crypto ecosystem as (L2s) are gaining traction and may surpass Ethereum L1 in terms of bringing on new users.
- The crypto ecosystem is seeing an explosion of L2s and may eventually experience consolidation.
- Tokenized treasuries are an emerging trend in the crypto space, with the potential for more types of real-world assets to be traded on-chain.
Chapters |
00:00 Introduction and Market Update
01:15 The Current State of the Crypto Markets
09:41 The Future of Layer Twos
12:42 Tokenized Treasuries as Real-World Assets
LINKS |
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Jenn Sanasie hosted this episode of "Markets Daily," which is produced and edited by senior producer Michele Musso and executive producer Jared Schwartz, along with Senior Booker Melissa Montañez. The original music is by Doc Blust and Colin Mealey. Show notes were assisted by an AI platform.
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Transcript
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| 0:43.9 | Wondery UK. That's audible.com slash Wondery UK. Heather, I think overall it's one of the most |
| 0:51.9 | interesting projects in crypto. And it's kind of a, I don't know if revered is the right word, but it's one of the most interesting projects in crypto. |
| 0:58.6 | And it's kind of a, I don't know if revered is the right word, but it's a project that many people have been paying attention to for many years. |
| 1:02.5 | In the beginning, in 2017 and 18, I remember when I joined crypto, people were quite worried |
| 1:08.2 | about Tether, generally speaking. |
| 1:09.5 | And then after all these years, |
| 1:11.5 | you're seeing pretty much all of the major crypto players getting targeted in different ways |
| 1:16.5 | and in some cases collapsing, yet Tether is thriving. |
| 1:24.7 | It's Thursday, May 2nd, 2024, and this is Markets Daily, a show where we get into the minds of some of the smartest and most experienced investors, traders, analysts, CEOs, and anyone with a hot or smart take on what's going on in the crypto markets. |
| 1:39.2 | I'm Jen Sanasi. Before we get into our discussion today, let's take a look at what's going on in those |
| 1:44.4 | crypto markets. The Fed on Wednesday kept the benchmark interest rate unchanged between five and a |
| 1:49.4 | quarter and five and a half percent. This was as expected during the press conference. Powell said |
| 1:54.2 | that the economy is too strong to cut rates and push back against fears of renewed rate hikes. The Fed also |
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