THE HASH: Bitcoin's Dominance Rate Hints at Upcoming 'Altcoin Season'; Data Shows NFT Marketplaces Sales Are Slipping

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4.7 • 698 Ratings

🗓️ 21 April 2023

⏱️ 25 minutes

🔗️ Recording | iTunes | RSS

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Summary

The most valuable crypto stories for Friday, April 21, 2023. This episode is sponsored by Filecoin Foundation. "The Hash" team breaks down the biggest stories of the day, including the halting increase in bitcoin's (BTC) dominance rate, which hints at the potential outperformance of alternative tokens (altcoins) ahead. Separately, OpenSea and Blur are experiencing notable losses in daily users and NFT sales, according to multiple dashboards compiled by researchers on the analytics platform Dune. See also: Bitcoin's Dominance Rate Runs Into Familiar Resistance, Hints at 'Altcoin Season' Ahead - Connect with the Filecoin community at the Filecoin Network Base in Austin, April 24-26, ahead of Consensus 2023. Register today at networkbase.io/austin. And find us on the Consensus show floor in the Protocol Village, presented by Filecoin Foundation. See you in Austin! - Join the most important conversation in crypto and Web3 at Consensus 2023, happening April 26-28 in Austin, Texas. Come and immerse yourself in all that Web3, crypto, blockchain and the metaverse have to offer. Use code THEHASH to get 15% off your pass. Visit coindesk.com/consensus. - This episode has been edited by Ryan Huntington. The senior producer is Michele Musso and the executive producer is Jared Schwartz. Our theme song is “Neon Beach.” 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 is sponsored by Filecoin Foundation.
0:10.9	This is the hash podcast.
0:13.6	Stay informed with the latest on Bitcoin, Eith, the Metaverse, Web3, and more.
0:18.8	All on the hash for your ears.
0:22.3	You're listening to the Coin Desk podcast network.
0:26.4	Hey, it's CoinDest TV.
0:28.1	Next week is consensus.
0:30.0	The mania is starting to set in.
0:32.1	Get worried, guys.
0:33.0	It's going to be crazy.
0:33.9	You're watching the hash, though.
0:35.0	Let's get back to business here.
0:36.1	I'm Zach Seward.
0:36.9	That's Jen S to business here. I'm Zach Seward. That's Jensenassie. We have a special guest star, Sam Kessler, and we have David Z. Morris, joining us on
0:42.3	the show today. The point of this show is to tell you all the news you need to know about crypto
0:46.6	here and now. So let's do this thing. David, you're leading us off. What do you got? Yes, a blast from the past or a returning phenomenon that never goes away. We have
0:55.6	Bitcoin dominance apparently topping out. For those who don't know, Bitcoin dominance means
0:59.8	the percentage of the overall crypto market cap made up of Bitcoin. It is sitting at 48% right now
1:07.5	and has been apparently for a little while and is not nudging up after rising a bit
1:11.9	in the first quarter. Historically, when Bitcoin dominance tops out or reverses, that means people
1:17.9	are going to be putting more into alt coins. And specifically, there's a lot going on having to do
1:22.5	with people's risk tolerance after a good Bitcoin rally, wanting to diversify around.
	...

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