GMGM Everyone checking the audios.
OK, it's obviously taking over the show.
No oak, no OSF no Paroke today no more.
Just me. And we've brought on a special
guest Wizard of Soho to to join us.
We did it. We did a rec radio show a couple
weeks ago and the people loved it so much we thought, yeah, you
how you want to Co host this week.
How you doing, Wes? Are you there?
Audio, Do you hear me? Yeah, we.
Can. Yeah.
Yeah, man, doing good. Just looking at the market, it's
been a lot of lot of action. So yeah, excited to be here.
Thanks for having me on again. It's a beautiful, pudgy Penguin.
And how many pudgies do you actually own?
I think? 1212 Bighorns and yeah, there's
like, The thing is, I always would buy like random NFTS with
my, like, you know, shit coin wallets.
Like whenever I make some money, I always put it in.
So I have like random wallets with pudgies.
So I have to still go through them.
But I think 12 big ones and around 20 of the little ones and
then I think just like two or three rugs.
Yeah, nice. Definitely.
Definitely feels like the best play this cycle so far.
We so where have we been. We've obviously missed a couple
of shows so far the Farrok has been and myself we're in when
Davos actually had to come in a little bit early but and
unfortunately OSF's had a meeting but we'll get into to
Davos. It's kind of a weird vibe to to
be there. One person that we did see out
there was Ledger Ledger sponsoring the the show again
for this month. Shout out to them they were
having a big party I think last night Ledger Illuminati Vibes
just outside of just outside of Davos.
But yeah, so a bunch of different people.
It was it was a it was a pretty cool conference.
You ever You ever been to Switzerland, Wiz?
Yeah, yeah, yeah. I've been to Switzerland.
Not I've been to Switzerland three times.
I was just there in 22, just did Zurich.
But I've been, I've been to skiing once since St.
Mauritz, I think it was like 2018.
And then Vince wants to stod, but never to Davos.
I've heard it's actually kind of crazy during the conference, but
I've never made it. Dude, it was wild.
You like, drive up and it. It's something you're driving
right up into the mountains. It's right next to Saint Morris.
So it's like this very small little village, like right up
there in the mountains. And you feel like you're really
going to like, I don't know, some lair.
There's military everywhere, literally military everywhere,
all around Zurich and all the way on the way up.
You get, you get in there, there's like snipers on all the
different roofs, but then it's kind of a weird conference, like
it's basically just a bunch of like Apre ski bars in Davos
that. Makes sense?
They have a, they have a like a conference for the World
Economic Forum. But the crypto bit of it is kind
of the side bit and it's, it's interesting you met, I did meet
a lot of people. There's a lot of people in
suits. It's a bit more trad fire I
think as a conference. But yeah, it's interesting the
best, the best bit we actually saw was the founder of of
Carlisle David Rubenstein. He was speaking to he was
speaking there and he was, he was really, really he was really
really good. And we had the The Circle IPO
and it was Scaramucci doing the doing the interviews.
But that was, that was the the DWF boys coin Telegraph team was
out there Ledger a bunch of different people and I would say
that we went into a bunch of two different houses.
The crypto ones were full, the other tech ones weren't.
AI was also full. I would say AI was actually more
full. AI was more full than the crypt
at once. Like anything that said it was
to do with AI. He looked inside the events and
they were always absolutely packed.
But it did still feel like crypto.
We had a good showing, at least this year and actually some of
the headlines I don't know if you even saw today, but Jamie
Dimon's talking about it, a bunch of different people's
talking about it. It still felt like after that
ETF like success but now everyone it was still back on
the agenda. So I don't know maybe maybe it's
not dead. I'm.
Surprised there were crypto. Like I I I mean, I guess, like I
haven't. Like I just know Dave was from
like you know back like tried five days because there was a
big like economic conference and you'd have all like the
economists and strategists from like you know you're fun or
whatever go. But I like.
So I mean I'm assuming some of this is true, but I just always
thought it was like a like absolute like debauchery bulls
like shit, like just like parties and just like the amount
of hookers from all over Europe that fly into Davos for like the
conference. Like like it's like ridiculous
like that. But I like, I again, I've never
been. But like from people that I know
in Tribe fight have gone like that's what they say.
Like they can make it seem like it's some very high end, which
it is. I mean, they do have a lot of
stuff talks, but it's just what I've heard is just, it's like
just just ratchet shit. Like, just like, I don't know,
did you see any of that like? I don't know, like obviously
there's a lot of rumours about Davos, right?
Like Illuminati vibes. It seemed very dull to me, like
the vast majority. There were quite a lot of locals
there who were just like doing cross country skiing.
There was a lot of like fur coats and crazy wealth.
Like the cars that were rolling through Davos were kind of wild.
I didn't see like the degen side of Davos at all, although I had
to leave slightly earlier. I don't know if like the the
party. Just didn't get invited.
Maybe because you're a crypto guy.
Maybe these? Fucking crypto DeGeneres can't
have them around us. Crypto was still the coolest bit
of that conference, trust me. Like it?
It was distinctly uncool. Apart from the AI and crypto
side, events like everything else just seemed kind of
run-of-the-mill. It's amazing that crypto even
had a presence. Like, I think that is so bullish
that one of the biggest, like, economic conferences has a
crypto arm now like that. That's phenomenal to even hear.
I was so surprised when like, Peroka was like, yeah, I'm going
to Davos. I was like, oh, you guys
covering tradfy stuff now. And he was like, no crypto.
I was like, what the hell? Like, I didn't even know Davos
had crypto stuff. So that's pretty amazing.
Yeah, it's. Crypto 2030 I think is the main
event or which is I don't know just like a generic name but
it's yeah it was busy and then that like I would say a lot of
the a lot of the the L ones they seem to have like partnerships
with with other tech tech like houses.
So I think Ava Labs had something there.
Hadera, you know these like ones which have have some links back
to like big tech. And.
Then obviously some like the like BlackRock was there.
So you had that being spoken about.
But it was, yeah, it was, it was definitely more integrated.
And then to be honest, I met a bunch of feds.
It was a lot of people working in blockchain who are really
working on like KYC and tracking wallets right there.
Yeah, some of that. Sauce.
Met at least three different providers doing that, that sort
of thing. And they're they're big.
And clearly we're like the sponsors of half of the events
as well. Like we are all about to be
tracked to within an inch of our lives if if they, if they get
their way. And it was kind of weird
speaking to them about blocking because they were like, you
know, it's really great. We can like track everyone's
payments like we can stop all all, like every payment
possible. And I was like, this doesn't set
like you're the most anti crypto crypto person I think I've ever
met. Like it was definitely about
retaining control for the Illuminati.
Exactly, exactly. But yeah, apart from that it
was, it was cold as hell -16 but it was, it was still a, it was
still a good good event. I don't know if I'll go again,
but it was it was definitely a good event anyway.
We'll get into what's been going on in the markets.
We obviously missed a couple of days but markets haven't moved
that much but but macro seems to be having a bit of a a week or a
continued weak start to the year.
You'd have you have stock selling off, your team just sell
off, you have bonds also selling off.
There's there's a range of different reasons.
You had ECB Fed both saying that Fed officials both saying they
think interest rates are going to be higher but longer You had
UK inflation surprising to the upside and then China just is
completely falling out of bed. I think Chinese stocks are like
a five year low. Hong Kong stocks were down 4%
again today. It's really blowing up there.
I don't know what you've been following or what I've maybe
missed, but how how you how are you looking at macro right now?
Yeah. My thing is funny, I was talking
with OSF about that on the timeline yesterday, the March
cuts, right like so, so we're, I think maybe it's a little bit
lower now, but like yesterday or day before it was like 75 to 80%
of having a 25 basis point March cut, which I thought was pretty
intense. So I kind of just like dug
around, you know, I was like all right, let's kind of see what's
going on in the world like so you know core inflation is still
pretty sticky it's it printed lower than 4%, but it's it's not
like you know when we when that big dump from like June 2022 to
like a few months ago. So that was kind of concerning.
Fat has definitely gotten very dovish especially from the
December meeting. And so you know I was kind of
looking at that, but then saw the last two numbers, right, The
only numbers that kind of matters CPI and then payrolls
and then probably like retail sales and stuff like that, but
which came out today which was just really bad, but payrolls
was not great. Shock to the upside.
Then we had CPI that kind of came in on the screws to
slightly upside actually. And then you had and shelter was
a big component of that, which is like you know the the biggest
problem with core inflation. And then today you had retail
sales that shocked to 0.6% after 0.3 or 0.4% expectation or
something like that, I forget. So there's a big move up.
So I don't get it. There's two data points left.
You have payrolls and you got CPI coming up for next month and
there's zero guidance from the Fed on cutting like last.
They said they're not going to cut until like maybe late in the
year markets forcing their hand because bond market thinks that
the fucking hard landings coming are growth's about to capitulate
in the next three months. So like, I don't know.
I couldn't wrap my head around this.
I was like either the Fed has to stop giving guidance like ASAP,
which they kind of seemed like some governors were talking
about it yesterday or they're like, all right, we're just
going to cut because the market's kind of just saying and
force their hand on to like a Fed put kind of thing.
So yeah, I don't know. I'm, I'm, I don't see, I mean
even if they cut, if they cut, then the market can expect that,
hey what does the Fed know that we don't know, right.
So then it's panic because then you have a scenario where every
pivot that we've had in history saw the market tank after pivot,
but those markets tanked after pivot because you know, the you
had, it was like a shock. It was like, oh shit, we're
about to go into a hard recession.
That's why Fed's cutting, right. And then usually you see AV
shaped recovery, but I don't know, I don't, I don't if you
see like a gradual cut, the market's bullish market should
keep pumping. But if it's if there's any shock
in the system, I mean I don't know, I don't know.
What do you think? I think, I think we rallied a
lot in Q4 and expectations were very, very high coming into this
year that it was just going to be an easy soft landing like we
were. We were we ripped right.
Stocks basically hit all all time highs.
Greatest rally in 100 years, sharp ratio wise.
And then and then we're just like you know, chickens are
coming home to roost a bit, little bit Feds not being as as
bullish. We've had some not like
horrific, we're not talking about inflation going back up to
like 5-6 seven percent, but like it's coming in what nought .1%
higher than expected and then UK inflation slightly, you know
going higher and and what's going on in the Red Sea, you
know, could push up some freight rates in, in places like Europe.
So yeah, it's just like a little bit more dampening of
expectations and you know we're going to go back to the like
roaring 20s, Everything's going to hit a new high.
So yeah, that's that's where it's the US And I'm not that
worried like I think stocks could sell off a little bit,
little bit more even here. But I think that may even be
healthy just given how how strong the rally was.
I don't really see, apart from like the obvious places like
commercial real estate and and you know, just the general huge
debt on government balance sheets.
I don't really see that spiraling out this year though.
Like, it just doesn't really feel like that.
Sort of an environment where it's all just gonna fucking
we're gonna see huge credit events or stuff like that.
So, no, no. Yeah, definitely coverage
markets sort like credit markets, fine.
Like, I don't think it's like capitulation, like like, I think
it's more like a pullback required unless we get a hard
landing, right? Then you could see a
capitulation scenario. But growth is still great.
I mean we, we just printed more than 200,000 jobs last month.
Like clearly GDP is doing good. The country's doing well,
inflation's down. It just seems like couple things
seem a little stretched like exactly like you said, like
we've rallied so much, right? Like even crypto like this.
I mean you have like every day there's a coin going, a meme
coin going like 5000 X, right. Like, I mean these are all
signals of we're getting closer to like a local top, but I mean
Bitcoin clearly it seems like short term hit that local top
with ETF, right. And ET is definitely, you know,
outperforming right now, you know, relative to BTC.
But you know stocks are definitely, definitely getting
worrisome for me, man. I think we could see like you
know on queues we could see like at least a pull to you know
maybe 380 or something like that.
Like I'm not, I don't see anything going to 300 or like
you know maybe like a like a four to 5% pull back is what I
was thinking yesterday. But you're already at 1.5% now
today on retail sales unused. So you know if the Fed is a
little, if Fed hiccups a little bit like then we could see like
you know maybe another like 4 or 5%.
So you see BTC go down to like you know, might touch that 38K
level which is like fine. Like I feel like that's all like
it's nothing crazy but it's not like you know like boom, boom,
boom. We're gonna hit like you know
60K in the next like few days. But yeah, I don't, I don't see
any credit capitulations. Spreads are like completely
fine. I just, I just, I think once
this March thing is done and we have a better idea of if March
cuts will happen or not, like that uncertainty, I think market
is kind of chopping around and can cause some turmoil.
And yeah, the Red Sea stuff, China, Hong Kong, like all that
shit's getting like they're taking big hits right now.
The Hong Kong index was down like a three, 4% today too.
So yeah, those things I mean that you got to keep an eye for.
I mean the nice thing is there's so much ETF narrative and
inflows in crypto that it's kind of giving us support.
But hey, you know, that should only last so long.
So yeah, it looks like, I mean the the why, why also alongside
the macro worries at the moment for well not only worries but
just like the macro macro softness let's say which is
maybe holding back crypto is you know every single day we're
seeing 400 to 800 million of Bitcoin being sent by Grayscale
Coinbase to sell. It does look like net inflows
over the last week have been something along the lines of
around 800 million. So that's like 100 million a day
roughly just just higher which is still decent.
But you know and obviously it will it will ratchet up.
It will you know it could it could really grow but I still
think that's that's a that's a decent scenario.
It's probably not as good as people were hoping but it's but
it's still it's still it's still OK that's not that's not really
helped. Bitcoin's definitely
underperforming. I think Bitcoin dominance I need
to look at where it is. Yeah down to 51%.
I mean that was a I hit 57 I think at one stage or 56 right
before the the ETF came and now it's quite a wild move and
you're seeing things like eat Solana, some of the L ones today
like say is up again. I saw Tear actually went down
because Vitalic like slightly flooded it.
But generally you've seen stuff go slightly, slightly higher in
some of the other ones and it definitely feels like a bit of
an altcoin season is happening. But I just don't really know how
that long that lasts if if Bitcoin stays around but.
What does that mean? Like I keep seeing that like
people, people are like all kind seasons coming.
Like like have people not been watching like the returns like
like whatever that C or whatever coin everybody's talking about
like 1000% Solana went up what 650% Eat is up from $800 from
you know, I mean, yeah it's fine, it's underperform.
But you know liquidity on Eat is also and collateral is like
insane, right. So it's still done really well.
Like like like I don't understand We've been in one of
the like best all coin seasons since like fucking like you know
2021 like so I don't understand like what other like it's just
it's at this point it's only diminished returns.
Like it doesn't make any sense like what are people expecting
like a 10X on Solana from here over the next few months Or the
other favorite thing is when the bull market comes like this is
going to pump like I'm like well what do you call it is it.
And like stocks have already crossed all time highs, rates
have dumped like you know what is that one of the one of the
most brutal bond sell offs in like I don't even know how long,
like what are we talking about? But it's like, but that's a very
interesting thing that means it's all these sideline people
that are just jumping in with like leverage because they want
to catch up or they go into you know down the scale on risk on
crypto. So like go down on the the, you
know, the the, you know, from like L ones, like safe L ones to
like L twos to like you know fucking like shitters and random
gaps so that they can catch up to the market.
But this is exactly what happens every time.
It's the same thing happened in 2021.
People go down the the, the risk scale and then get caught and
then it's like oh fuck, like, but I I don't think it's as bad
as it was in like you know end of 2021 or anything like that.
But it's like, I just don't understand like what's the all
coin season that's coming? Like we're in it, it's been
happening. Like, what the fuck?
Yeah it's wild to I agree with you.
Like all coin season, it feels like if you're now calling for
an all coin season it's it's kind of towards the end of that
run. But I think it's more just that,
you know, all coins are finally starting to outperform Bitcoin.
That at that stage of the cycle, I don't know if I love them as
much, Like if bitcoins going lower normally that also catches
up with all coins at some stage and we'll have some like already
bloody day where everything's down download even today, you
know, it feels a little bit precarious already.
Definitely under pressure today. I mean I think yeah, like it's
funny the first thing I got up this morning and I was just like
you know what I'm just going to short a couple things and I
haven't really shorted in like months like anything serious.
And because I I put a couple like queues puts I get short of
stocks and bonds and I was think you know what I'll throw a
couple like little on Solana eat and BTC and right away just like
bombarded. You're not gonna make it you're
short like bro I've been such a bull this whole plan like it's
not a big deal. I was like alright this is great
energy. This is exactly what you wanna
see when you're short because you know people are over lover
and you can see those capitulations.
But again like I The thing is inherently I'm still bullish
until I get you know more confirmation.
But I I I don't, I don't see how people are not going to be
taking profits here at least like I've clipped out like at
least 35% of my spot portfolio, right.
Like like why not keep the rest on.
You have a free option at this point, but the people coming in
late, it's like, yo, I have to be all in because I've missed
out everything. And that's kind of always
happens when you want, you know, completely capitulate, but yeah.
So the one coin as well it's higher again today Solana I put
a tweet yesterday which I know you replied to as well which is
just like what has been going on and this has been going on for a
while. But I think in particular it's
just the the fact that it's continuing and continuing with
such strength. You've seen whiff again hit a
new all time high today sell off just is, is is nearing $400
million market cap. Solana shit coins every single
day. They just like Top Deck
Screener. There's new ones hitting.
I think even this week you had win hit like 50 million, they're
just running and then you had that huge run as well.
What do you think here like I said yesterday that, you know,
not everyone looks at shit coins everyone.
Some people feel like, you know, I don't want to get involved and
they are very dangerous. But like the reason why I think
that Solana right now is you have this Jupiter AirDrop which
is basically going to be a series of airdrops all the way
going until early next year. And that's basically like the
UNISWAP of of Solana about to give everyone some coins.
So everyone's really keen to to like to trade their highest TBL
they've had, highest number of transactions and users they've
had. It just means it's like this
right condition where and obviously you have some of the
major slowing down so people are looking at, you know, looking at
share coins again, it just feels like, no, I feel like I'm
missing a coin every single few days on this thing. 100% same
here. Small, right?
Like these coins are going, they're going 50 million plus
sometimes. Like it's it definitely feels
like you need to be paying attention to it.
Yeah, I mean I think the the, the Solana, I mean we just, it's
actually going in the way you want it to because you had a
lull like maybe like a week ago or something where you saw like
everything kind of capitulate and shake out.
And then you know you have new entrance come in, stronger
players come in and then like the people who didn't get who
had the liquidity but didn't get the entry like like with what
like like 60-70 million after going to 350 at some point and
then you know what rebounded aggressively.
So you want to see stuff like that.
I feel like usually these things come and freeze.
So you'll see another potential compilation which could be
closer to the AirDrop on Jupiter.
Because I feel like everyone's just so focused on it.
And it could be, you know, I hate to say it, but it could be
another like, you know a sell the news kind of shit.
But The thing is it could be what it could be is that you
could see that initial like dump into it as volumes coming in
because people are like, oh people are going to all buy my
bags on that AirDrop. But I think what could happen is
you could see that initial dump and then the AirDrop comes and
then you could see like another dip and that dip is probably the
one to buy. And then you see that it may be
another high like across the board like all the the coins,
new coins etcetera. And then that that that's
probably when it like kind of all ends for like maybe like a
month or two months. But what the one good thing is
like seems like a Solana meme coin season.
Solana is like a like a like a core platform now for meme coin
season and with midpoint seasons are always cyclical, right.
Like it's not just going to be perennially going like just how
it always was on Etherium but but the way Etherium 2020 dog
season, which is basically what Solana season is right now or
the good morning and all that season in 2021, it's I feel like
that whole community has basically moved over to Solana.
But man, you did coin. There's a coin that just
randomly went 100 million the other day on on Eat Like some,
like in Chinese coin meme coin. But like, that's all it is,
right? As long as new launches keep
happening, then things will just keep pumping, right 'cause the
liquidity will come coming in, people are still gonna play
catch up 'cause they're like, OK, whiff was a this, you know,
the dog with hat is this and the fucking dog with glasses or dog
or whatever, fucking just make some shit up.
And that just keeps right and that that that the casino just
keeps going. So as long as a the the big guys
so like the leaders are are doing well and consolidating are
pumping. So you want like bunk you want
to see with you want to see whatever else at like sitting at
like you know Myra and all this shit sitting up you those
derivatives will keep pumping. So there's more liquidity coming
in more people will see, more people will bridge TBL grows.
I mean you know more market makers come in and then like
yeah that's that's kind of what we're seeing already but it's
it's all cyclical that's the thing to remember and The thing
is meme coin seasons are always cyclical.
So you'll see that big dump, you'll see capitulation, you'll
see people hating on it, and new players will come in and it'll
be just, you know, a cycle of that.
But yeah, definitely have to be paying attention to what's
happening on Solana, no doubt about it.
Yeah and and you know you're seeing all the the main
exchanges. Well, very keen to list some of
the coins like I think there was another listing maybe of the
Hive Mapper coin today. I forget who it was but it was I
think honey, yeah the the the Hive Mapper coin got got listed
all the, you know the various deep in various D5 coins getting
listed right now. So if you catch a Right meme
coin, it feels like there's like 10 different exchanges Raise the
line up, listing anything that's on Salon at the moment so it
does feel as though it's again. Yeah, go for volume.
I mean that's exactly just go for volume, right.
I mean the fact that coin base listed bong, I mean that kind of
just opened the floodgates, right, Because the volume on
these coins are pretty unreal. So just find coins, even there,
small caps that have a lot of volume going for them.
Because if that shit grows, exchanges are going to be
salivating to like you know like list that shit And a lot of
this, like the one cool thing on Solana I've noticed is like, you
know, like Bonk was a was an AirDrop, right?
Like there's nothing more fair from a meme coin perspective
than an AirDrop rather than like, you know some fucking scam
devs that launch it. Not that I'm saying they don't
pump like nothing is I I love apic and the rugs because rug
devs that like some of the best like guys can pump meme coins.
But for something to hit that 234 billion you need it to be
like very, very fair, like it needs to be like a like an
AirDrop, like nobody had an edge.
You know what I mean? That's kind of like WF was
through, like WF was fucking dead for such a long time.
So the only true believers were in it.
And that's kind of the only coins that really go to like
those multi multi billion dollar M cap.
So I think, I think, yeah, just go for the volume, go for
something that, you know, is more community run and you know,
it should pump. But it's all cyclical.
So you got to be sure that, you know, you're, you're taking
those profits and then, you know, you can always buy those
dips back again and everything will dip.
Every meme coin will dip at one time at least 70 to 80%.
And then again, it'll dip at 60% and it'll again dip at 50% and
then it'll run, you know, that's pretty standard, but yeah.
And then you saw what happened with Crypto Undead as well
yesterday. This is, this is what's going on
in the NFT space. NFTS have come back pretty
strong on some of the new mints in particular, like Bitcoin.
Solana. Another Solana Mint, Yeah.
And this was a Solana mint, like.
But then, you know, this was a very, very hype mint.
A lot of people hiked into it. You know, whitelist spots were
very difficult to get. And then seemingly there are two
things that happened. So Krypton dead's not a huge
amount known about the project. There's still a little bit, you
know, it's not like a massive, massive amount known, but it
does feel as though, you know, they they definitely did some
very good marketing at the start.
And bids at the start were like 20 Sol, which is straight off
the bat for this because obviously Sol's gone up so much.
And then and then as the mint went on, it seemed as though a
bunch of different people who thought they were on the allow
list didn't get to mint them. We saw, I saw a bunch of things
on the timeline of people being like Oh my God, I didn't get to
mint. So clearly they did the maths
wrong or the math just didn't math.
And then the other thing is that you saw some very weird sniping
of of of certain certain NFTS pre reveal which normally
indicates that there's an indicate like somebody knows
which ones are going to be the rares.
I think there was an 80 soul. Oh yeah, I saw that the. 8080
Soul 34 Soul. So yeah, I I did see that so but
I was told at least I I saw at least what's his name, you know
the guy, the dev Bender or whatever.
And I saw a few devs say that the the NFTS haven't even been
like like the art hasn't been created yet or whatever.
So I think both of these seemingly and there's been some
like update to this number one is, is that up until that we
won't know until reveal but apparently the the, the, the,
the art hasn't even been finalized.
So the idea that you pay ATE for one of them sorry AT solve for
one of. Them.
I wonder if it's just a marketing tactic like, you know?
Yeah, or like. Idiot.
Or if it's just a marketing tactic to keep it like, you
know, in everyone's like like like more fraud, like with all
these things people love, like more FUD is good, right?
Like, like people love buying the FUD.
Like that's just become a thing now.
So it could be just a marketing tactic by the team.
I mean, they seem to be pretty solid with the marketing.
I mean the fact that they have no road map, no art shown, like
I literally know nothing about it.
Like it's funny because I know the guy, the the guy known
Dollar. Like I I've known him since like
you know he's he's been around in the NFT space for a long time
and he's a marketing guy too. But like like the fact that
there's nothing known and then it was so hyped so they know it
at least seems it seems like they know what they're doing and
you got to think about it, right?
Like if the apparently they were, they're shown the the the
artwork to a bunch of big players, NFT collectors and they
haven't signed Ndas and those guys said it was like amazing.
So which I don't know like you know that's true or not but that
yeah that's what I that's what I heard.
But that's the thing. Right, that sounds chilly as
hell, dude. Like, oh, we go to whales, the
artwork. For a yeah, that's what I'm
saying. I don't know, it was like fake
like like that could be just a fake rumor being passed around.
But I don't know, man, these see hype mints.
Do you know any hype mints that have like lasted like long, long
term? Azuki was right.
Azuki Zuki is probably. The only one hype man.
What are you talking about? It wasn't, it wasn't dude, you
could sit there. I minted 10 Azukis from like I
think like I minted 30 total, but I minted 10 and it because
it had that that fast gas thing that they did the first time
ever. And bro, you had all the time.
You had like half hour. I think almost.
I forget exactly how long it was but or maybe it was 15 minutes
but there was a lot of time like like back then was you'd have
like gas wars and ship would mint out like in like seconds to
minutes right Azuki you you literally could hang out there
and like mint more like over the like for a while And they they
like dumped too. Like they got to like to eat
like the beans and then they dumped down to like 1.5
something and then just sat there for like a free eat for a
long time and then it started pumping to like 5678 to eat.
But I don't think Azuki was was that high.
I think Artifact was, yeah, actually even Artifact wasn't
that hype they actually fucked up that meant.
Yeah, they went lower, right? It went lower and then it did
the artifact. Would have, yeah, I would have
never made it unless that the Nike announcement came out
because Gate Dump Post revealed too.
They were like, yeah, they were like, oh shit, like these guys
are about to like be done. And then the Nike announcement
came and I was just fucking off to the races.
But like the only ones I can think are like you know think
like the Mecca verses or yeah they would have the but like
they pumped, right? They pump.
And then if the team does have actual capabilities, then it
just starts approaching 0. Or you look at like art
gobblers, like what did that hit like?
Fucking 25 meters or something that?
One up that was terrific. 20th I think got hit.
Yeah, that's fucking insane. It was Max fun, dude.
Like, I mean, I was fucking fun in that shit.
Like crazy. Yeah, but that was Paradigm,
just buying their own bags for it.
Exactly right. So they but but you know we
don't know what's happening behind here.
But again let's see, you know maybe they keep like giving
teasers or something and those teasers pump it or fuck it goes
to 0. Like, that's part of the game,
but. Yeah, the other, the other, the
other development. The good thing is, the one good
thing is though, is that the fact that there's hype mints
coming back. Yeah, or like just people
willing to mint new stuff. Exactly.
It's good. That's great.
Like, we will hopefully see more projects come out, you know,
Costas pushing, because even Solana NFTS have not been doing
that well. I mean, like net, net, they're
up, but they're not up like shit coins, right?
So. Yeah, they're not.
I mean, that was maybe not unsurprising you.
It's not like only really cryptic punks have managed to
even hold their floor as it's gone higher and pudgy.
Penguins, obviously. But yeah, just to follow up with
the Quadrun Des, they're also said now that they're going to
give a refund. They said they bought 3000 each
worth their own floor. They haven't sold.
Sorry, their own floor to you know, it's not a small amount
with Solar 100, but yeah it's they're they're going to give.
I mean, that's nice. Because they could have just
refunded, right. And I think it was 2.5 sold.
So they basically bought at what?
What's the, I don't know what the prices were not like 1213 or
something. So they they could have just
refunded and just be like, yo, fuck you guys like you know what
else? But they burnt their own soul
from the treasury to go buy at market 1314.
So that's pretty nice. But you know, who knows?
Yeah, you never know. So that's dominate.
I mean it's good. It it, we like to see NFT mints
go well. I guess this.
People who did the Mint, they've obviously made money, but it
does feel as though it's not maybe going as amazing as
expected, just checking where the floor is right now.
It was 11 when I, when I started started doing the minutes this
morning, but. Yeah, they're.
Still around 11/11/12 it looks like.
So they're still doing. 50% kind of down from the local high.
Yeah, but everyone who minted them will will have made money.
Yeah, everyone minted this in the money.
Yeah. And then I guess the only other
stuff which has been going on is, is kind of what's been going
on in new coins, Airdrops, There's a few different new ones
coming out. Obviously, Jeeps is already
spoken about. It's going to come out end of
this month. Ondo I think is a big RWA coin
which is launching Balance tomorrow.
FAR is another. Hype.
What's that one Ondo? What is?
That Ondo is is like a big RWA finance you they do treasuries
across very different yeah like it's very very hype it's it's
kind of RWA but legit people saying it's a it's going to be a
challenger to maker but oh. Interesting.
And by serious people that's launching tomorrow I think that
could that could do well a lot of people a lot of people
looking at that but then the other big one that kind of got
some well caught some strays but also took back in from took back
the the timeline yesterday was blast blast announced I can do a
big ecosystem fund yeah for test net and basically you know get
people to finally build on this thing.
It's going to move away from just being a multi sig to
actually being a test net and then obviously gone have its own
main net eventually but then you saw this Kobe tweet I don't know
if you saw this but we definitely definitely do not
have enough time to read through what he wrote but it's just kind
of a a a pretty broad analysis of what's happened with blast
like a bunch of that there was maybe overly shield.
This was in response to people being like oh why does Blast?
Why does Blast get so much fired or why is it, why is it doing?
Why is it backed by so many kind of people that maybe and I don't
know I kind of feel like BLAST is still going to do well.
I wouldn't, I wouldn't mid curve this based on any sort of
marketing issue. I think I think it's very, very
clear that if Paradigm and and and the Blur team are behind
this, they're probably going to do, it's probably going to do
well. But I think it has been a little
overly shilly at the start and now obviously they're going with
their test net which hopefully does well.
But what's your, what's your view on Blast?
Have you put any money on Blast? Do you think it's going to do
well? It's got 1.3 billion on it right
now. Yeah, I mean, I, you know, I'm
just seeding because all my friends got into the the seed
and then they give me the shot, right?
And fuck you guys but so for me that's basically like the I'm
just like out of anger. I think it's the bullish, the
genius, the way they did that. They first got the TVL, then
they got the the fucking Gray to go.
They got the entire blur like market like participants that
were just like OK, why not we'll just stake our blur too.
And the other smart thing that this has got so many influencers
at their as their investors. So that's what like Kobe kind of
was like alluding to because he's like like a lot of people
are just you know like a shilling.
But it's because like that's so genius of a lot of these funds
outside these projects coming out now they consider going to
big VCs and stuff. They're just having influencers
and like people with like, you know, communities invest and
then just you just a natural marketing machine, right, having
to pay. Them mini keeps attacking this
and you know, I I am somebody who benefits.
Oh yeah, Beanie's saying that, which is?
Not a lot, because. Beanie is the same shit.
Being a being akol quote UN quote in this space doesn't mean
you get shown deals and I've I've been surprised at how many
I've been shown this cycle. It was way more than last cycle
it. Was way more.
Yeah. Yeah.
It's a strategy being used by a lot of firms.
What is your view on that? Like we only, we only have a few
minutes, but like what is your view on that I guess, I mean
it's great. No, it's it's work but like,
yeah, do you think that's a bad thing for the market like that?
No. Why is it a bad thing?
Because think about it, it's a you get to show your community
early before everybody else, right?
Especially if you're bullish on it.
Like, if it's not malicious, right?
Like it's like, you know, like say like, like you see a great
meme coin and you're like, OK, like I would have bought this
anyways. They're paying me for it.
I would have told my community anyways.
It's like a win, win on all all fronts.
So you get paid a little bit extra.
You would have bought this anyways.
You community get to hear about it first from other than other
communities. They win, you win, everybody
wins, right. So for me, I I think that's a
great thing that they're trying to make it instead of giving it
to big VC funds, giving it to just like you know the the
regular people who have spent the time to build communities
and distribution network. So I think it's great.
I know Beanie's bitching about a little bit.
But first of all Beanie does the same shit.
He's in all these because he's an, you know, influencer or
whatever, like, so it doesn't make any sense, but I think it's
great. Anymore, like I think he
probably is maybe less. I mean, he clearly has has seen
less of them than maybe he was before, although I think he has
his own. Well, I think he still does.
I mean, maybe he sees less, but I think he's done a pretty good
job at his comeback than, you know, most people are getting
cancelled. I I think, I think I agree with
your take to a certain extent. I think I think this makes like
you said, if if it does get distributed in the right way to
different people this whole. Yeah.
KOLS replacing BCS to a large extent.
I think clearly it benefits the KOLS the most.
Do I think it benefits the community less or more?
I think potentially it can benefit the more if it's done
well. I think this all it's a win win
in the current environment where like every single coin that gets
listed on one of these major exchanges.
Yeah, exactly. Yeah.
It was a 5X like every single coin at the moment.
So in that world, I think it's it's more win, win and then but
in a world where it's not like that and you things don't feel
as nice suddenly you know chickens come home to roost
again and everyone. 100%, so but that's that's cyclical too,
right? Like, I mean exactly like if
it's a bear market and like then you have to pick, but then then
it's on the KOL to pick and choose, right?
Like you just can't be like yo yes to everyone and it's like OK
like does this really have the potential to like have staying
power and stuff like that, like Blur for example, right.
Like people invested in Blur, like it it, it got so much fun
at times, right? And the price dumped, but it
worked out in the end of it, right?
Like net, net, like it's, I think it was like $0.75
yesterday or something. So, you know, yeah, I think
you're right. Like, I think in this market
everything's gonna pump anyway, so everybody might as well make
money. But in the bear market, yeah, I
probably should have like, you know, significantly more due
diligence. Yeah.
All right.
Well, Wiz, it's been awesome to have you.
We're going to cut. We're going to cut it there.
I because I've wrecked radio in like 15 minutes.
We're doing it early in these based in Asia to do it so.
But yeah, it's awesome to have you.
Thanks so much for filling in. Awesome.
You can come on back whenever, whenever you feel it's good to
have you across macro crypto. Wiz obviously has the fastest
growing paid newsletter in the space.
Let's go. So go check that out and yeah,
we will. We will.
We'll be back tomorrow. I think OSF is going to be back
as well. I'm not sure about for I think
maybe he's traveling home. But yeah this has been a
firmware we're sponsored again by Ledger.
Shout out to them, I know they're in in Davos right now,
but yeah, good to have you. And thanks for having me guys.
Appreciate everyone. Thank you.
See you guys soon. Bye.