Bitcoin Is the Most Illiquid It’s Ever Been: 12 Numbers That Tell the Current Story of Markets

The Breakdown

Nathaniel Whittemore

Investing, Business

4.8 • 786 Ratings

🗓️ 25 September 2021

⏱️ 16 minutes

🔗️ Recording | iTunes | RSS

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Summary

NLW looks at the current state of crypto markets through numbers, including: Bitcoin illiquid supply Lightning Network capacity Evergrande’s debt The total value of CryptoPunks And more Enjoying this content? SUBSCRIBE to the Podcast Apple: https://podcasts.apple.com/podcast/id1438693620?at=1000lSDb Spotify: https://open.spotify.com/show/538vuul1PuorUDwgkC8JWF?si=ddSvD-HST2e_E7wgxcjtfQ Google: https://podcasts.google.com/feed/aHR0cHM6Ly9ubHdjcnlwdG8ubGlic3luLmNvbS9yc3M= Join the discussion: https://discord.gg/VrKRrfKCz8 Follow on Twitter: NLW: https://twitter.com/nlw Breakdown: https://twitter.com/BreakdownNLW “The Breakdown” is written, produced by and features NLW, with editing by Rob Mitchell and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “Tidal Wave” by BRASKO. Image credit: Vertigo3d/E+/Getty Images, modified by CoinDesk.

Transcript

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0:00.0	when this is an asset class that is used to 10, 20% drops in an hour that are amplified over a course of days,
0:07.3	and function relatively orderly relative to what you would imagine and recover in turn,
0:12.1	all the while without putting their hands out asking for a bailout like traditional finance.
0:17.2	Regulators are allowed to be concerned about whatever they're going to be concerned about,
0:21.0	but I keep coming back to the fact of when it comes to crypto markets right now, which investors
0:25.7	are asking for their protection. Welcome back to The Breakdown with me, NLW. It's a daily podcast on
0:34.5	macro, Bitcoin, and the big picture power shifts remaking our world.
0:40.0	The breakdown is sponsored by Nidig and produced and distributed by CoinDesk.
0:46.4	What's going on, guys? It is Friday, September 24th.
0:49.7	And today I have an interview that had to be rescheduled at the last minute, and so I had to pull a quick
0:57.1	audible.
0:58.4	Now, if I were a smarter man, what I would do is I would have a number of Evergreen episodes
1:02.7	just sitting around ready to slot in for circumstances exactly like this.
1:07.0	There are so many good ones out there, a primer on the Lightning Network, a look at stable
1:12.2	coins and what their history is and what they mean, et cetera, et cetera, et cetera.
1:16.2	However, doing a daily podcast means that you don't have a lot of time for planning ahead.
1:21.0	So, instead we're going to adapt, and we're going to do an episode that I actually think
1:24.7	is a really fun way to look at things.
1:27.4	I'm going to do The Story that I actually think is a really fun way to look at things. I'm going to do the story of markets in 12 numbers.
1:31.6	So I've gone through, I've looked at a bunch of different parts of the crypto industry as a whole,
1:35.9	and I'm going to use numbers to sort of summarize or give a sense of where things are.
1:40.7	This is across the whole crypto space.
	...

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