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MARKETS DAILY: Crypto Update | Will Solana and Altcoins Dominate the Market Next?

CoinDesk Podcast Network

CoinDesk

News, Daily News, Tech News, Business News

4.7698 Ratings

🗓️ 23 May 2024

⏱️ 16 minutes

🧾️ Download transcript

Summary

The latest price moves and insights with Helene Braun and TACTIVE Wealth Advisor, Eddy Gifford.  To get the show every day, follow the podcast here. Today on "Markets Daily," Helene Braun speaks with Eddy Gifford, a TACTIVE Wealth Advisor, who shares his insights on the potential impact of the ETF approval on Bitcoin and the market as a whole. They also discuss the recent passing of the FIT 21 bill and its significance for the crypto industry.  Takeaways |  The anticipation of the SEC's decision on the approval of a spot Ether ETF is driving the market, with expectations of a positive outcome leading to a potential surge in Bitcoin and Ether prices. The approval of the FIT 21 bill is seen as a significant win for the crypto industry, as it establishes a regulatory framework that promotes widespread adoption and protects consumers. The approval of a spot Ether ETF is expected to have a complementary effect on the spot Bitcoin ETF, rather than detracting from its momentum. While Solana is seen as a logical next step for ETF approval, it may take some time for another coin to receive approval, and in the meantime, ETFs that include altcoins are more likely to be introduced. Crypto is becoming increasingly important in the political landscape, with candidates and presidents recognizing its potential and the need to embrace technology and innovation. Chapters |  00:00 Introduction and Market Update 02:18 Anticipation of SEC Decision on Spot Ether ETF Approval 04:44 FIT 21 Bill: Establishing a Regulatory Framework for Crypto 06:03 Impact of Spot Ether ETF Approval on Bitcoin 07:18 The Next Steps for ETF Approval: Solana and Altcoins 09:00 Crypto's Growing Importance in the Political Landscape 13:30 Conclusion LINKS |  CoinDesk 20  Tactive Wealth  Eddy Gifford, TACTIVE Financial Advisor  Ether Market Cap Adds Close to an Entire Solana Blockchain in a Single Day  Ether Spot ETF Approval Would Raise Expectations Solana Could Also Be Classified as a Commodity: Bernstein  Ether Jumps on Spot ETF Hopes; Hex Trust Issues Stablecoin on Flare - Consensus 2024 is where experts convene to discuss ideas shaping our digital future. Join developers, investors, founders, brands, policymakers, and more in Austin, Texas from May 29-31. CoinDesk curates the tenth annual Consensus to feature the industry’s most sought-after speakers, unparalleled networking opportunities, and unforgettable experiences. Take 15% off registration with the code MD15.  Register now at consensus.coindesk.com. - This episode was hosted by Helene Braun. “Markets Daily” is produced and edited by senior producer Michele Musso, and executive producer Jared Schwartz alongside Senior Booker, Melissa Montañez. Show notes may have been generated with the assistance of AI technology —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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The administration is understanding that the train is coming through and whether they like

0:54.1

it or not,

0:54.7

we're going to be in a situation where adoption is going to continue to spread. More and more people

0:59.3

are going to be owning these types of things. Providing some type of regulatory framework that

1:03.5

protects the consumer to a certain degree is something that's going to be good.

1:12.8

It's Thursday, May 23rd, 2024.

1:16.4

Hello and welcome to Markets Daily, where we bring on the smartest minds in the industry

1:21.0

to help you navigate crypto markets.

1:24.2

I'm your host, Helene Braun, and before we dive into today's discussion, let's see what prices are doing.

1:30.2

If we look at the broader market, which is measured by the Coinus 20 index, we're up about 0.77% over the past 24 hours.

1:38.8

This is, however, largely driven by Ether, which is trading higher by about $5.8% at $3,927 this morning.

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