cryptocurrency market

cryptocurrency market

cryptocurrency market: Let's hit bitcoin mike as it's booming once more we're back above 23k definitely at the highest degree now when you consider that mid-june kate rooney joins us kate how

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a good deal of the crypto rally associated with broader market sentiment the fact that shares are up and there seems to be a few

relief across the economic system and inflation hello sarah yeah it does in reality cross lower back to what you and mike were talking approximately crypto even though continues to be very a good deal a macro story so this week it's getting help from some of that optimism specifically around tech stocks and those excessive boom names and on the

crypto precise front

we have mentioned some of the liquidity problems bankruptcies within the industry and humans i'm talking to mention it is truly cleared a big amount of leverage from the machine so traders are hoping that the worst is over for charges at least and say crypto for the most component became able to live on this shock there's a little bit of wish now that bitcoin may also be nearing a backside uh one fine

sign is investor sentiment now rebounded in case you study some thing known as the fear and greed index it's around a 30 so it is nonetheless at fear however it is been an excessive fear in recent weeks it become as little as a six a couple of weeks ago uh this can be very a lot a alleviation jump such as you and mike talked approximately when it comes to shares on bitcoin even though there is nevertheless very an awful lot a lack of

new demand that could save you bitcoin from getting returned to that all-time high whenever quickly either manner even though bitcoin rallying that is suitable news for some of the crypto related shares you have

coinbase

up double digits these days block and paypal getting a lift microstrategy has been a bitcoin proxy after which some of the mining inventory so one large winner today marathon virtual that become up 28 at one factor earlier these days returned to you guys oh some thing associated it is crypto however also some of the fintech shares kate in reality creating a circulate higher and it extends past crypto i understand we had a few suitable credit score card facts from the top issuers and profits like a jp morgan and a

citigroup

um and bank of america what else what else are you hearing due to the fact we are seeing a few double-digit movements in a few of those start was another massive winner i

understand you are spot on there while it comes to fintech i think the expectations have been so low and had been so low for some of the lending businesses by way of now pay later but that has without a doubt been baked into the inventory charge so anything that points to the alternative or factors to matters even

being

normal has been a first rate sign for fintech and has definitely helped these shares upstart in particular today

mckenzie i got to start how hot is it in paris it's wonderful i've had so many macarons since i'm arriving good take it away tell us about tell us about this conference and what's going on so the vibe here is overwhelmingly positive people are thrilled that the grifters have been washed out and the developers who are left behind are building real utility there's also a lot of optimism around the fact that this year's in the making upgrade to ethereum is actually happening in september so today vitalik buterin who is the creator of ethereum gave a keynote on the main stage pointing to all the benefits of the merge as it's called including the fact that it will make 

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ethereum so much faster scalable more energy efficient and lower the price of gas fees so we've got a situation where you where i'm sensing that people are more encouraged than not are there some there who are worried there are more shoes to drop uh in the industry louboutins no [Laughter] no so much of the conversation is no t about the market and it's about the underlying fundamentals so the conversation i've had with virtually every single person at this event is that you know the crypto contagion effect has actually been contained within a very specific corner of the ecosystem so we're talking about the distinction between centralized finance and decentralized finance celsius and voyager digital those big names that have fallen these are c5 players their yields weren't real so 20 apy often times with no collateral involved and then you have your d5 platforms like ave and compound that are over collateralized and and this is where you're seeing real yield in the market so you know people here aren't worried about the recent erosion of confidence among investors because even though there's less liquidity flowing the bankruptcies are cleaning out the system and exposing vulnerabilities what's the general mood there mackenzie on you know a topic where we see each day bringing new information about insider t rading and lawsuits and bankruptcies and all the rest of it what's the atmosphere like i mean it just it hasn't phased people like they're just so confident in the fact that those people that were looking to make an easy buck have been washed out so what you're leaving are developers and cryptographers who have a lot of work to do to create actual utility meanwhile the party scene has been a blast like nobody has been sleeping this week in paris they're bouncing from ecc to all of these ancillary events there are dozens of blockchain parties happening across the city folks snuck into the catacombs which is uh 65 feet underground it holds the skeletal remains of around 6 million parisians 

crypto currency

tonight the hot ticket to have is raw bay's blowout party where i'm told all the defy degens get loose so if i get a ticket to that i will report back on how that goes we want to get a report on that but i i find a certain irony amidst all the uh all the turmoil in cryptocurrency that that they would h ave a party in the catacombs where the bones reside that feels a little ironic to me no but that that's the thing it's like the investors and the trading side and the price charts and the markets are so completely separate to the group of people that ecc attracts we're talking about the top developers and cryptographers on the planet like every single session has been devoted to what is the latest in tech like what what is being developed that people aren't talking about yet so there are no panels there's no opening it's about really getting into the weeds of the road well next time mackenzie take us along will you we would love that kelly and i will join you there's bring back what do you guys want there is a cuisine uh there is never a bad time to visit paris mackenzie seagals thank you very much and you can 

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