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CoinDesk Podcast Network
MARKETS DAILY: Crypto Update | Why Are Meme Coins Appealing to New Investors?
Jul 8, 2024
Switchboard co-founder Chris Hermida joins to discuss the recent crypto market crash, the popularity of meme coins, and how stablecoins are attracting new users to the crypto space. The conversation also touches on portfolio allocations, sentiment towards altcoins, the rise of DeFi and GameFi, and the potential impact of an Ethereum Exchange-Traded Fund in the US.
19:41
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Quick takeaways
- Meme coins appeal to new investors due to popularity, while stablecoins drive new user adoption in cryptocurrency.
Deep dives
Understanding the Impact of Market Dynamics on Crypto Prices
Market Daily delves into the recent crypto market crash, highlighting a 7% drop in the CD20 index and a 5% decrease in Bitcoin. City Research predicts eight Federal Reserve cuts starting in September, while Polymarket betters anticipate one to two rate cuts by year-end. Despite the dip, Bitcoin ETF investors in the US made inflows over $140 million, hinting at market resilience.
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Discover
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