Join Matt and Nick as they break down crypto’s chaotic week. They also discuss Ethereum vs Solana, the Ethereum ETFs, the SEC vs Ripple Labs court ruling, and more.
Key Takeaways
- The market bounced strongly off last week’s lows of less than $50,000 for BTC. For now, it appears the technical reasons for the flash crash have passed.
- Kamala Harris overtook Donald Trump in U.S. election prediction markets for the first time. This likely contributed to last week’s sell-off, given that a would-be Trump win would likely bolster risk assets.
- Solana is catching Ethereum across a number of key adoption metrics. There is a strong argument that both can do well in the long term.
- Among the altcoin updates covered: XRP soars after SEC vs Ripple Labs judgment and Arbitrum to be used by Franklin Templeton.
Important upcoming macro dates:
- Aug. 12: Monthly U.S. federal budget
Next FOMC meeting and rate probability as per CME FedWatch Tool:
- In 35 days, there is a 45.5% confidence rate that interest rates will NOT change from 5.25–5.50%
Truflation snapshot:
- Today’s U.S. Truflation: 0.42%
- Latest annual CPI data: 3.0%
00:00 Intro
00:15 Volatile Week in the Crypto Market
00:43 How BitcoinFared Amid Market Chaos
01:43 Japanese Currency Sparks Global Market Sell-Off
04:00 DeFi Resilience in Volatility
05:30 BTC Dominance
10:00 Morgan Stanley Opens Up BTC ETFs
12:33 US Election Race and its Impact on Crypto Markets
17:12 Positive News for Ethereum ETFs
21:37 Solana’s Rebound in the Market
32:37 Ripple’s Court Ruling and Potential Appeal
35:20 Arbitrum’s Struggles and Adoption