there you have the likes of solana, slow ventures is a major investor in . solana. you have things like polkadot, avalanche, coming for ethereum, and all those tokens have written those tailwinds. you also have app coins, applications that have been developed on ethereum the have -- that have their own tokens so your own ways of expressing views, not only on ethereum as a whole but of course on these specific de-fi applications and so forth. and finally, it wouldn't be a crypto segment if we didn't touch on nfts, and the new models we are seeing people take as they approach investing in those new types of assets. caroline: talk to us about solana. this has been dubbed the ethereum killer. as you say, slow ventures, and investor. what took you with that particular protocol? what is it about solana and the growth profile that you like? jill: solana, from the get-go, has been solving problems. -- has been all about trying to solve developer problems, and they have done a great job in terms of targeting developer acquisition. they have run a series of hackathons and gra

jill: solana, from the get-go, has been solving problems. they have done a great job in terms of targeting developer acquisition. they ran a series of hackathon's and grant programs. they have been successful. they have over 1000 active developers in the ecosystem and that has translated to the growth of end-users in the ecosystems and in the platform. within the ethereum decentralized finance ecosystem, which has been around longer and is more well-established, there is about $90 billion in total locked value in that ecosystem. you have now seen over the last few months, the rise of solana applications to now have about $10 billion locked in there. the same trends hold true as you look at the user base, as you look at wallets, which is a good proxy for the number of users in any of these ecosystems. while it downloads. solana is seeing about 100,000 new wallet downloads per day. that is a rough proxy for the type of growth they are seeing in that ecosystem. caroline: you mentioned the non-fungible tokens. i felt it was a bubble-icious area

becky, algorand solana in the top 50 there may be growing interest.witter feed back over to you >> why do you think that is? >> i don't know, as you seen, first of all, i truly believe a. lot of traders in crypto currency believe bitcoin is at the epicenter, for good reason the reason why is as you are seeing interest if bitcoin start to rise along with the stock price, there are some traders out there who are looking for the next big thing and that might not necessarily be just bitcoin. it could be etherium growing places like algorand and solana may signal some traders can find some moral that, that outperformance over what bitcoin is doing so it's an interesting trade i don't talk about crypto currencies often but i watch this data every day, i never see algorand and solana in the top 50. >> i wonder if it's because gary gensler, the head of the sec said the day before yesterday they're not going to shut down bitcoin, coins, right. so if you've got at least gary gensler who has frustrated some of the crypto traders with what he's said they will do

so i do think coinbase directionally is a bet on higher prices for ethereum, bitcoin, solana, on andn and on i understand they're an exchange and a brokerage, so it's a two-way market, but in truth, the higher these things go the more options there will be you have 68 million verified users on the platform. does anyone bet you don't get to 100 million. 462 billion every quarter in trading volume, 10,000 institutions are already working with them on custody 160,000 ecosystem partners and they're in a hundred countries and i think they have enough of a head start that the market cap, which is large, is justified. people understand what their place in this seek system will be in one year, in five years and ten years. so i like it technically, i hope it continues to move higher off of those lows, if it violates i'll get out and reassess, but that's what i'm doing >> let me ask you this because you make about as compelling a case as i've heard anybody make for a reason to own coin base. >> i was just -- i was a stockbroker for ten years. i'm very good at pitching stocks >> i know you are,

we have had a big run with solana, kara, some of the bigger altcoins, in the past, say, weak. -- weekto market cap has a bed -- better -- has a record high as well, so it looks as if it is spreading to other coins as well. david: the etf, some are pointing to that as a high, and are pointing to inflation. tell us about etf trading and what is behind that? joanna: one thing that is interesting is that it looks like there hasn't been a lot of retail take-up. it looks like this could be institutions trying to get in, sensing an opportunity to get into an etf product they might've wanted for a while. but we will see if retail people do come in at some point. maybe they are waiting for other etf's or maybe they are waiting for other products, so that is something that has been pretty interesting. but we have seen whales buying bitcoin for the past couple of months, just buying bitcoin straight out and that has contributed to the bullish mood. rishaad: thank you, joanna ostergaard, luber cross asset teams -- joanna singer -- joanna, bloomberg cross asset teams. you have to turn it up every

dozens of countries could be impacted in alameda, contra costa, napa, solana, and the greatest impact is going to be in the north bay. let's send it right over to meteorologist aaron peck for a look at the weather that's causing those fire concerns. >> there's new terminology on that as of this morning could revoke rented from a fire weather watch to a red flag warning print but the details haven't changed it's just that we are so close to this now stronger wording has to be used for sunday night through tuesday evening, the north bay mountains that the hypertrophy like 's norget that includeshe st hills, and the santa cruz mountains buthweatcoer co e complete fore because, there is also a wind advisory to go along with that for the rest of us . so it will be windy for your part of the bay area on monday morning could but, not sunday. temperatures out there range from the low 40s right now, to the locus is, and it's a beautiful forecast we will be in the low 80s for inland parts of the east bay today relatively warm and sunny i will be with you with the full forecast in a few moments.

i was there with the founder of l-1 chains and solana, et cetera, the fundamental technical changes goingare very profound. at our firm, we say follow the world's best engineers, invest in google and if they're going to facebook, invest in facebook, if they're going to snowflake invest in snowflake. the reason for that is we have an opportunity to reinvent the internet in a way that allows us to have something that can authenticate transactions, authent kate value that gets exchanged. so i think it's an important innovation we see more engineers and more development over the last 24 months than we saw in the prior eight years and it's that level of innovation and that level of -- of evolution in the utility of this thing that causes us to be pretty excited about crypto whether or not bitcoin goes up over the next 90 days is a totally different question >> you are always one of our faves. i always enjoy the conversation and you get people talking and that's the point thank you. >> keep it up, scott another ten years to you and the entire team. >> brad gerstner of altimeter joining us today

that feels like solana two to three years ago..90 it's using that as support and i think on a trading basis you can do algorand as long as it holds above $1.50 both of these are available on coinbase >> so many cryptocurrencies. thanks, gentlemen, great to see you both and for more "trading nation," you can head to our website or follow us on twitter >>> up next, more on today's big market reversal. it's green across the board. we've also got a stock soaring about 20%. we'll tell you about it. don't go anywhere. >>> and now the latest from "tradingnation.cnbc.com and a word from our sponsor. today, things can be pretty unexpected. but your customers, they still expect things to be simple. and they want it all personalized. with ibm, you can do both. businesses like insurers can automate it processes across clouds. so agents can spend more time on customer needs. and whatever comes your way, you've got it covered. saving time and improving customer service, that's why so many businesses work, with ibm. >>> welcome back, everybody.

> i'm invested in quite a few of the different coins i'm obviously invested in bitcoin, ethereum, solanahe space i like to go where the young developers are going so i'm very cognizant of what they're doing and what platforms they're working on >> let me ask you one final question and i didn't realize that you're on the board of bill ackman's holdings spac we know what valuations are and you're talking about them with some of the biggest investors in the world all week long. does that make it more difficult to find a target >> i think it is always difficult to find a great target and it's not as easy as it appears. we have this big spac run. bill is an extraordinary investor he has great instincts and we have a great board and we've been incredibly careful and as you know, we've had a deal with universal music and we had some issues in getting it approved. so we reversed it to bill's fund which turned out to be a phenomenal investment. rid now they're looking at a lot of different targets we do have a very large spac at 4 billion. we've turned it into a spark, and i think bill's being ex

in some of these cryptocurrency protection or sound money currencies, if you believe in ethereum, solanaere's more people that are starting to understand the technology, the communities, nft adoption, all of that is growing around ethereum. and i think you're seeing more buyers and holders in this asset class that's making it more interesting for people looking for volatility this has a 94% volatility index here so, four or five times more volatile than the overall marketplace. but i think when people are looking at -- it's sort of interesting that even though you have high volatility and even with interest rates rising, you have an asset class that many people said, look, this is trading like a high bit of tech stock. in this type of environment where interest rates are rising you're seeing it stronger, moving up to the 55,000. i think that says a lot about the current holders and a lot about institutional participation. >> it does get hit on days where rates do spike sometimes >> it does get hit there's a couple of interesting plays off of this. coinbase, for example, seems to not be a