Market Daily: ETH Outperforms BTC, Layer 2s Surge
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Market Overview
Today's "Markets Daily" episode features an interview with Jennifer Sanasie and Leo Mizuhara, CEO of Hashnote. They discuss key market trends, including the impact of the Bitcoin ETF, the Coinbase vs. SEC case, and the Solana ecosystem's resurgence.
Key Market Data (8 AM ET):
- Bitcoin: Down 2.18% at $40,802
- Ether: Down 3.95% at $2372
- CoinDesk Market Index Mover: Cartesi (CTSI), up 37%
- Traditional Markets: NASDAQ and S&P 500 rose over 1%.
- Brent Crude: $75.88 per barrel
- Gold: $2029 per ounce
This episode was hosted by Jennifer Sanasie. Executive Producer: Jared Schwartz. Producer & Editor: Eleanor Pahl. Senior Booking Producer: Melissa Montañez. Original Music: Doc Blust and Colin Mealey.
Audio Transcript: Note that this transcript may contain errors.
Interview with Leo Mizuhara, CEO of Hashnote
Ethereum's Outperformance
Mizuhara notes Ethereum's surprising outperformance following the Bitcoin ETF approval. He attributes this to market rotation, anticipating an upcoming Ethereum ETF and subsequent interest in staked ETH funds and altcoins.
Layer 2 Opportunities
The discussion shifts to Layer 2 tokens, with Mizuhara highlighting Arbitrum and Optimism. He also mentions the potential of Coinbase stock as a way to indirectly play the Layer 2 market, given the profitability of its Base Layer 2.
Coinbase vs. SEC Lawsuit
Mizuhara comments on the ongoing Coinbase vs. SEC lawsuit, noting the seriousness of the case and its potential impact on COIN's price. He emphasizes the judge's understanding of the broader implications of the case.
Solana's Resurgence
The conversation concludes with Solana's recent comeback. While acknowledging the ecosystem's renewed activity, Mizuhara focuses on the technology rather than meme coins, mentioning other Layer-1 projects like Near and Tron.
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