MARKETS DAILY: Crypto Update | The Talk in Crypto Town Is Still XRP

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4.7 • 698 Ratings

🗓️ 20 July 2023

⏱️ 10 minutes

🔗️ Recording | iTunes | RSS

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Summary

Today's episode is sponsored by Kraken Pro. Today's Stories: FTX Seeks to Recover $71M From Its Philanthropic and Life Science Arms SEC Chair Gensler Cites 'Wild West' of Crypto in Case to Increase Agency's Budget SEC’s Stuttering Litigation Strategy Draws Comment From France Markets Links: BRN00 | Brent Crude Oil Continuous Contract Overview | MarketWatch First Mover Americas: XRP Momentum Could Set Precedent for Bitcoin From our sponsors: Meet the all-new Kraken Pro. The powerful, customizable, beautiful way to trade crypto. It’s Kraken's most powerful trading platform ever - packed with trading features like advanced order management and analytics tools — all in a redesigned, modular trading interface. Head to pro.kraken.com and trade like a pro. Not investment advice. Some crypto products and markets are unregulated. The unpredictable nature of the crypto asset markets can lead to loss of funds and profits may be subject to capital gains tax. This episode was hosted by George Kaloudis. “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 Cracken.
0:08.5	It's Thursday, July 20th, 2023, and this is Markets Daily from CoinDesk.
0:14.2	I'm George Kulutis here again for your daily news roundup.
0:17.4	On today's show, we're talking Bitcoin, the latest headlines, and more.
0:22.1	And just a reminder,
0:33.8	CoinDisc is a new source and does not provide investment advice. Bitcoin and Ether are showing some strength again. But the talk of the crypto markets is still XRP.
0:39.2	Literally, XRP's social dominance, which measures the percentage of social media discussions
0:44.2	related to a cryptocurrency compared to all top 100 coins, has shot up to its highest level
0:49.6	since January 2021.
0:52.6	Coin desk analysts write that, quote, XRP momentum could set precedent for Bitcoin, end quote.
0:59.6	Anything other than Bitcoin pulling the broader crypto market up is typically indicative of the
1:04.3	end of a bare market. So there's a general sense that we are at the end of the cycle,
1:08.6	especially as Bitcoin heads into the halving
1:11.0	within the next nine months. The halving typically coincides with a run-up in the price of
1:16.5	Bitcoin and the rest of the crypto market. Today's crypto market coverage comes courtesy
1:21.0	of CoinDisk markets analysts Jamie Crawley and I'm Kargurbole. Bitcoin is currently trading at
1:27.2	$30,247, while Ether is trading at $1,918 per token, according to
1:35.4	the Coin Desk Market Index, and shifting to the traditional markets.
1:39.8	It's earnings season for public companies.
1:41.8	On yesterday's show, we talked about good bank earnings,
1:44.5	but today, tech company earnings are weighing on the market, especially the tech-focused NASDA
1:49.9	composite. Netflix and Tesla experienced a pre-market open sell-off, denting investor optimism
	...

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