1 00:00:00,040 --> 00:00:04,680 GM Everyone, just two of us. Today 22 lone Co hosts. 2 00:00:04,680 --> 00:00:08,680 It feels like the The Smoking Jackets has come back two years. 3 00:00:08,680 --> 00:00:11,320 Two years in Jackets. Our original podcast which 4 00:00:11,360 --> 00:00:15,800 Faroque actually took over which was called The Smoking Jacket We 5 00:00:16,640 --> 00:00:19,040 come again. Music is loud, isn't it? 6 00:00:19,600 --> 00:00:23,600 Yeah, isn't, I think. Baroque is normally a different 7 00:00:23,600 --> 00:00:26,440 decibel to me. So like the music's always needs 8 00:00:26,440 --> 00:00:30,760 to, needs to match match that. We've had a lot of issues with 9 00:00:30,760 --> 00:00:33,160 Twitter spaces over the last 24 hours. 10 00:00:33,160 --> 00:00:37,120 I hope you guys can hear us in the space, but if not, I will be 11 00:00:37,160 --> 00:00:38,880 very shortly tweeting out the broadcast link. 12 00:00:38,880 --> 00:00:43,360 I think OSFL 2 and I think you can find us on YouTube still, 13 00:00:43,360 --> 00:00:44,480 right. I think we live stream these on 14 00:00:44,480 --> 00:00:46,120 YouTube as well. Yeah, we do. 15 00:00:46,360 --> 00:00:49,920 So yeah, you should be able to find us, find us everywhere. 16 00:00:50,160 --> 00:00:53,480 How you doing OSF? Yeah, I'm good. 17 00:00:53,560 --> 00:00:55,320 I'm good. Busy with just a few different 18 00:00:55,320 --> 00:00:59,320 things at the moment, so just the last few days have been like 19 00:00:59,320 --> 00:01:00,480 balls. Balls to calls? 20 00:01:00,480 --> 00:01:03,160 Really, so. Yeah, if you are watching on 21 00:01:03,160 --> 00:01:05,920 video, you'll realize that OSF has managed to shave off about 22 00:01:05,920 --> 00:01:09,680 15 years from his age after he shaved his beard. 23 00:01:10,520 --> 00:01:12,760 I don't know, I think you think you're kind of looking like a 24 00:01:13,720 --> 00:01:15,800 1819. You could, you could pass as 25 00:01:15,800 --> 00:01:18,160 your brother, like your youngest brother, I think right now. 26 00:01:19,040 --> 00:01:20,920 My my youngest brother's only three years younger than me, so 27 00:01:20,920 --> 00:01:23,120 it's not like a crazy. Yeah. 28 00:01:23,200 --> 00:01:26,480 So maybe not, maybe not. I reckon you could definitely be 29 00:01:26,480 --> 00:01:28,080 mid 20s with that with that look. 30 00:01:28,960 --> 00:01:32,720 I do still get IDD when I buy alcohol. 31 00:01:33,680 --> 00:01:34,800 Wow. Markets. 32 00:01:34,800 --> 00:01:37,280 I still get IDs, yeah. Actually, I. 33 00:01:37,520 --> 00:01:39,120 Used to be shit when you were younger, but now it's like a 34 00:01:39,120 --> 00:01:41,400 compliment. Yeah, ID. 35 00:01:42,520 --> 00:01:45,280 When I clean shave, yeah, I can look very young. 36 00:01:45,280 --> 00:01:47,600 I think in Austin. I got IDD when I I was clean 37 00:01:47,760 --> 00:01:49,920 shaven in Austin and I was definitely younger. 38 00:01:50,200 --> 00:01:51,880 I just don't know if I love that look yet. 39 00:01:51,880 --> 00:01:54,760 Like you said, you you're getting so old that you need to 40 00:01:54,760 --> 00:01:58,120 shave the ears off yourself. It's kind of like a like an 41 00:01:58,120 --> 00:02:01,360 early midlife crisis when you start going clean shaven, I 42 00:02:01,360 --> 00:02:06,680 think. I just, yeah, I don't know, I do 43 00:02:06,680 --> 00:02:09,240 it like once or twice a year just for banter really. 44 00:02:09,240 --> 00:02:10,720 And I instantly regret it when I do it. 45 00:02:10,720 --> 00:02:14,200 So yeah, so I'd just like to shave it all off. 46 00:02:14,760 --> 00:02:16,720 Should have kept shave shave my face as well. 47 00:02:19,040 --> 00:02:23,000 Full body, please. Anyway, let's get into stuff. 48 00:02:23,560 --> 00:02:25,880 It's like I said, Faroka's on a plane. 49 00:02:25,880 --> 00:02:27,160 I think it's going to be actually be on the show 50 00:02:27,160 --> 00:02:32,360 tomorrow. We are sponsored by Ledger, as 51 00:02:32,360 --> 00:02:35,240 you all know, everyone's favorite hardware wallet 52 00:02:35,240 --> 00:02:37,240 provider. They're in Davos. 53 00:02:37,600 --> 00:02:40,840 They are, yeah, hopefully back. I know they had a big party a 54 00:02:40,840 --> 00:02:43,520 couple of nights ago, but yeah, go check them out. 55 00:02:44,600 --> 00:02:48,200 Obviously we use them for all of our hardware stuff and they've 56 00:02:48,200 --> 00:02:49,560 been sponsoring the show for the last month. 57 00:02:50,360 --> 00:02:53,080 But yeah, the market feels a little bit shaky out there, I 58 00:02:53,080 --> 00:02:56,280 think, right? Like I woke up this morning last 59 00:02:56,280 --> 00:02:57,560 night, I was feeling very bullish. 60 00:02:57,600 --> 00:03:03,000 And then Bitcoin actually hasn't moved, but Bitcoin dominance has 61 00:03:03,000 --> 00:03:04,680 risen. It feels like a lot of the old 62 00:03:04,680 --> 00:03:07,800 coin moves that were feeling very, very strong yesterday kind 63 00:03:07,800 --> 00:03:13,080 of got shaken out in this move. I look on, like I look on my 64 00:03:13,080 --> 00:03:17,560 trading, trading view and pretty much every coin is lower over 65 00:03:17,560 --> 00:03:20,240 the last since, you know, since midnight, my time. 66 00:03:21,040 --> 00:03:25,960 But Bitcoin and ETH are slightly higher, it looks like. 67 00:03:25,960 --> 00:03:28,760 So it feels like this was old coins really getting wrecked. 68 00:03:28,760 --> 00:03:33,600 Bitcoin dominance has risen like very slightly, but it only needs 69 00:03:33,600 --> 00:03:35,240 to rise very slightly for olds to fall. 70 00:03:35,240 --> 00:03:38,000 So, yeah, what do you think of the market right now? 71 00:03:39,000 --> 00:03:41,040 It's a weird one. Like I'm just looking at prices 72 00:03:41,040 --> 00:03:44,680 now like yesterday it really felt like we were going to also 73 00:03:44,680 --> 00:03:47,080 going to rally, right? Like Seoul was really strong, 74 00:03:47,560 --> 00:03:50,960 everything was really big and we'd had, you know a few days of 75 00:03:50,960 --> 00:03:55,080 Bitcoin feeling a bit shaky, but we saw it bounce to 43 K and the 76 00:03:55,120 --> 00:03:58,200 ECF volumes were good, etcetera. And then I don't know what 77 00:03:58,200 --> 00:04:01,240 happened today, like we woke up today and also back down again. 78 00:04:02,080 --> 00:04:05,160 So it's a tough one to judge. I I think macro's been a little 79 00:04:05,160 --> 00:04:07,600 bit weak. You know like stocks, I mean 80 00:04:07,600 --> 00:04:09,960 stocks are actually up today, but they were down yesterday. 81 00:04:10,360 --> 00:04:13,040 Interest rates are a decent amount higher, ten year is 20 82 00:04:13,040 --> 00:04:15,880 basis points higher on the year. So that's a that's a decent move 83 00:04:15,880 --> 00:04:19,720 on 10 year and you have the FMC at the end of the month. 84 00:04:19,720 --> 00:04:23,840 So it's just like a few different bits and pieces going 85 00:04:23,840 --> 00:04:26,440 on right now which means the market isn't trading as strong 86 00:04:26,440 --> 00:04:28,160 as like maybe we feel like it should. 87 00:04:29,520 --> 00:04:33,640 I know the ETS have created a lot of inflow, but obviously on 88 00:04:33,640 --> 00:04:35,760 the other side of that there's been a ton of cell pressure from 89 00:04:35,760 --> 00:04:38,000 probably Kryptonates people who are in it for the trade and 90 00:04:38,520 --> 00:04:41,320 everyone there is monetizing. So it makes you makes you 91 00:04:41,320 --> 00:04:43,360 realize like how bad price section could have been after 92 00:04:43,360 --> 00:04:46,640 that had the inflows not been so strong into from the ETF. 93 00:04:46,640 --> 00:04:49,720 So I don't know, I think I think we're just in this period of 94 00:04:49,720 --> 00:04:52,720 consolidation. I don't, I know a lot of people 95 00:04:52,720 --> 00:04:54,600 think oh we're either going to break lower or break higher. 96 00:04:54,600 --> 00:04:56,480 I think we may not. I think we may just stay in this 97 00:04:56,480 --> 00:05:00,120 range for a while and I think eventually we should come back 98 00:05:00,120 --> 00:05:02,720 higher hopefully if the FOMC isn't just like a disaster at 99 00:05:02,720 --> 00:05:06,880 the end of the month. But I kind of like Solana, like 100 00:05:06,880 --> 00:05:11,400 alts here. I think they feel like they have 101 00:05:11,400 --> 00:05:14,080 a good opportunity to go higher if Bitcoin just stays within its 102 00:05:14,080 --> 00:05:17,520 range, in my opinion. Yeah, yeah, I I agree. 103 00:05:17,640 --> 00:05:21,920 I I don't think we're in for a nuke to like 38 K like just 104 00:05:22,160 --> 00:05:23,920 everyone is saying that at support level. 105 00:05:23,920 --> 00:05:27,840 I think we'd have to obviously a really big nuke and macro, but 106 00:05:27,840 --> 00:05:32,360 to me like it feels the ETFs and there was maybe some initial 107 00:05:32,360 --> 00:05:33,760 disappointment. But what I've been impressed at 108 00:05:33,760 --> 00:05:36,960 is like every single day seems to be pretty healthy volumes 109 00:05:36,960 --> 00:05:40,240 going through those ETFs. Net inflows, obviously there's 110 00:05:40,240 --> 00:05:43,080 some outflows from grayscale, but the inflows I think are up 111 00:05:43,080 --> 00:05:46,880 to like 1.41 point, 4 billion so far. 112 00:05:47,400 --> 00:05:49,920 And each day this is new. So it just feels like, and we 113 00:05:49,920 --> 00:05:51,320 remember this from being traders, right? 114 00:05:51,320 --> 00:05:54,240 Like when the ETF does every single day, it's coming in to 115 00:05:54,240 --> 00:05:57,640 buy it. It doesn't feel like a lot on 116 00:05:57,640 --> 00:06:01,960 the first day, but by like the 20th or 30th day or like the 117 00:06:01,960 --> 00:06:05,120 50th day, no one has any inventory. 118 00:06:06,240 --> 00:06:07,960 Yeah, you like, you know that we used to trade it. 119 00:06:07,960 --> 00:06:10,560 Obviously different markets, but when when you stop the series 120 00:06:10,560 --> 00:06:15,960 BlackRock or Fidelity or Franklin ETF tickets, they'd 121 00:06:15,960 --> 00:06:18,640 come up being like, look, can I buy, you know, a million 122 00:06:18,640 --> 00:06:23,440 Bitcoin, 100K Bitcoin eventually, yeah, it really does 123 00:06:23,440 --> 00:06:27,600 start to start to rack up. So it'll be interesting to see 124 00:06:27,680 --> 00:06:31,040 what how this feels after like 20 or 30 days if if volumes stay 125 00:06:31,040 --> 00:06:33,760 so high. Yeah, I think so. 126 00:06:33,760 --> 00:06:37,320 I think we sort of like we transition from the ETF 127 00:06:37,320 --> 00:06:40,000 excitement now to like people have stopped focusing on it and 128 00:06:40,000 --> 00:06:41,760 people just kind of like moving on to the next trade. 129 00:06:42,320 --> 00:06:45,360 And if volumes stay this strong and the inflows stay this high, 130 00:06:45,360 --> 00:06:47,160 then I think we may transition back to it and people might be 131 00:06:47,160 --> 00:06:49,520 like, oh, wow, like actually these numbers are quite good. 132 00:06:50,520 --> 00:06:53,040 So I think it's very much in the mix also, like, you know, it's 133 00:06:53,040 --> 00:06:54,760 fucking, it's the 18th of January, right? 134 00:06:54,760 --> 00:06:56,600 Like, we have the whole year ahead of us. 135 00:06:56,600 --> 00:06:59,000 And it feels like so much has already happened in this year. 136 00:06:59,000 --> 00:07:02,800 So I know it seems like a lot of people are like, oh, it's time 137 00:07:02,800 --> 00:07:06,200 to throw in the towel and move on, time to take, like, take 138 00:07:06,200 --> 00:07:08,240 money off the table, fully stable, whatever. 139 00:07:08,240 --> 00:07:10,960 I just think we're still very early in this process. 140 00:07:10,960 --> 00:07:12,360 It definitely makes sense to take profits. 141 00:07:12,360 --> 00:07:16,080 Like if you're someone who bought a lot in 2022 or 2023 and 142 00:07:16,080 --> 00:07:20,360 stuff's up, you know you're up between two to 10X and a few 143 00:07:20,360 --> 00:07:21,960 different things. And yeah, I understand taking 144 00:07:21,960 --> 00:07:23,960 profits and those always, always wise to do so. 145 00:07:23,960 --> 00:07:27,920 But I think to just call the crypto top here or just to call 146 00:07:27,920 --> 00:07:30,880 I think it's going to nuke from here, I think is just feels very 147 00:07:30,880 --> 00:07:33,640 premature in the context of where we are in the year and 148 00:07:33,640 --> 00:07:35,040 where we are in this process in my opinion. 149 00:07:35,800 --> 00:07:38,640 Yeah, for sure. Does feel does feel premature to 150 00:07:38,640 --> 00:07:42,800 me as well we are yeah. And what do you think like in 151 00:07:42,800 --> 00:07:43,800 terms of what the market's going. 152 00:07:43,800 --> 00:07:45,640 I think we can we can just go sideways for a little bit. 153 00:07:45,640 --> 00:07:48,120 There's there's been ETH and Bitcoin are obviously 154 00:07:48,120 --> 00:07:51,520 outperforming today. Did you see what was going on in 155 00:07:51,520 --> 00:07:54,800 Franklin Templeton yesterday Like I know you you had a few 156 00:07:54,800 --> 00:08:01,440 drinks last night and you came back had a few and just in this 157 00:08:01,440 --> 00:08:03,880 context, I just don't know. I put out a tweet saying this 158 00:08:04,000 --> 00:08:07,800 yesterday but like Franklin Templeton were one of the most 159 00:08:07,800 --> 00:08:10,320 boring funds out there. Like they are pretty 160 00:08:10,320 --> 00:08:13,520 run-of-the-mill asset manager, very big. 161 00:08:13,520 --> 00:08:17,360 Been around I think 6070 years like maybe even longer. 162 00:08:17,440 --> 00:08:20,840 I think they've been around like just post war period but very, 163 00:08:20,840 --> 00:08:22,720 very long. Just like the sort of place that 164 00:08:22,800 --> 00:08:28,280 that would never really do anything too nuts but they would 165 00:08:28,280 --> 00:08:30,840 always, you know, they would always have quite big size. 166 00:08:32,120 --> 00:08:36,480 And then to see them like their official Twitter account laser 167 00:08:36,480 --> 00:08:38,480 eyed posting about a dog with hat. 168 00:08:39,120 --> 00:08:41,360 It's just it's just so not like them. 169 00:08:41,880 --> 00:08:44,440 Well at least that Franklin, that I knew that I'm just kind 170 00:08:44,440 --> 00:08:46,760 of like this. This doesn't feel like we're 171 00:08:46,760 --> 00:08:50,880 going lower Like when you have an 8 what is it $2 trillion 172 00:08:51,400 --> 00:08:55,720 asset manager like laser eyes posting about dog with hat. 173 00:08:56,120 --> 00:08:57,920 That to me feels like we're going higher. 174 00:08:59,280 --> 00:09:03,160 Yeah I it's it is incredible to see that like even if you look 175 00:09:03,160 --> 00:09:06,320 through the whole Twitter page it's like I think we had like a 176 00:09:06,320 --> 00:09:08,880 a crypto takeover yesterday. But like the whole Twitter page 177 00:09:08,880 --> 00:09:11,600 is just like all these talks about every like it's about 10 178 00:09:11,600 --> 00:09:14,480 tweets of crypto stuff and talking about different L ones 179 00:09:14,480 --> 00:09:16,320 and L twos and all that kind of stuff. 180 00:09:16,320 --> 00:09:19,760 It is mental. Like you've had this meme of the 181 00:09:19,760 --> 00:09:22,120 institutions are coming and we're sitting here now with like 182 00:09:22,440 --> 00:09:28,080 van Eck troll like trolling like crypto stuff on on Twitter and 183 00:09:28,080 --> 00:09:29,280 now Franklin doing the same thing. 184 00:09:29,280 --> 00:09:33,760 Like it is really mental and it's it's a massive far cry from 185 00:09:33,760 --> 00:09:37,440 what we saw in 2021 when all these guys were still hating on 186 00:09:37,440 --> 00:09:40,200 it and then eventually it it it all sold off. 187 00:09:40,200 --> 00:09:42,240 But now all these guys are on board obviously because they 188 00:09:42,240 --> 00:09:44,120 were trying to make money out of it now from ETS. 189 00:09:44,120 --> 00:09:47,120 But it's a huge shift in the dynamic I think. 190 00:09:48,520 --> 00:09:52,640 And yeah, it's just tough to see like it's tough to see us can 191 00:09:52,720 --> 00:09:56,280 like drop lower from here with with those guys involvement. 192 00:09:56,280 --> 00:09:58,520 I don't know, like dropping into lower. 193 00:09:59,280 --> 00:10:01,760 I was trying to work out if it was a top signal or a bottom 194 00:10:01,760 --> 00:10:05,040 signal, but I feel it's a top signal because I'm what the 195 00:10:05,040 --> 00:10:09,400 reason why I say that is because Franklin, it's such a, it's such 196 00:10:09,400 --> 00:10:13,800 to me just describes such slow capsule to a certain extent or 197 00:10:13,800 --> 00:10:16,120 like traditional capital in the space that it's going to 198 00:10:16,120 --> 00:10:19,240 probably going to encourage more of the more of the fringe 199 00:10:19,240 --> 00:10:22,240 capital to also be like I should be checking this out, right? 200 00:10:22,240 --> 00:10:24,400 Like if I was sitting there and I saw Franklin doing that, I'd 201 00:10:24,400 --> 00:10:27,600 be like, wow, Franklin's doing this, but maybe I should look at 202 00:10:27,600 --> 00:10:28,880 it. BlackRock have always been a bit 203 00:10:28,880 --> 00:10:32,120 more, you know, forward facing, like they're catching on to new 204 00:10:32,120 --> 00:10:34,280 trends with the ETFs and whatever. 205 00:10:34,680 --> 00:10:37,520 So I was just like when I saw that, I was like this is, this 206 00:10:37,520 --> 00:10:41,000 is kind of wild. Although I didn't notice it got 207 00:10:41,000 --> 00:10:43,560 picked up by any mainstream news outlook. 208 00:10:43,560 --> 00:10:46,160 The only thing that they were talking about yesterday was, was 209 00:10:46,160 --> 00:10:50,200 Satashi increasing the Bitcoin supply more than 21 million. 210 00:10:51,440 --> 00:10:54,240 Did you see that? Satashi. 211 00:10:55,040 --> 00:10:58,120 I don't know if he's he's like trolling or not like he he's a 212 00:10:58,120 --> 00:11:00,320 smart guy. Like, what the fuck is he doing? 213 00:11:02,640 --> 00:11:04,240 I don't know. Maybe he just doesn't. 214 00:11:04,240 --> 00:11:05,320 Maybe he just really doesn't like it. 215 00:11:05,320 --> 00:11:06,520 Like a lot of people just hate crypto. 216 00:11:06,520 --> 00:11:07,600 Maybe he just doesn't really like it. 217 00:11:07,600 --> 00:11:11,720 And but he's still like business minded enough to to do the right 218 00:11:11,760 --> 00:11:13,160 thing. I think he just doesn't like, he 219 00:11:13,280 --> 00:11:14,560 doesn't like. Obviously he doesn't like the 220 00:11:14,560 --> 00:11:19,240 meme concept of things that in any inherent value. 221 00:11:19,240 --> 00:11:21,840 And like Bitcoin is kind of like the original meme coin. 222 00:11:22,440 --> 00:11:24,480 There's an argument to say like, oh, ETH does this and that and 223 00:11:24,480 --> 00:11:26,360 that. And so I think that was the the 224 00:11:26,360 --> 00:11:28,320 argument he's trying to make. But yeah, I don't know, like 225 00:11:28,320 --> 00:11:32,560 he's, I don't. Know what we're talking about. 226 00:11:32,560 --> 00:11:34,760 Maybe we should bring it up. I don't know if Sims, you've got 227 00:11:34,760 --> 00:11:41,320 it on the background, but Jamie Dimon was in Davos yesterday and 228 00:11:41,880 --> 00:11:47,120 he was basically saying not only did he call Satoshi, Satoshi, 229 00:11:47,400 --> 00:11:51,320 but he basically said that Satoshi at the end of the 21 230 00:11:51,320 --> 00:11:53,560 million Bitcoin could just switch it and and increase the 231 00:11:53,560 --> 00:11:57,360 supply. Now there is a non zero chance 232 00:11:57,360 --> 00:11:59,560 that Bitcoin does have to increase its supply after that 233 00:11:59,560 --> 00:12:01,720 21 million. There's been talk about the idea 234 00:12:01,720 --> 00:12:04,160 that that needs to continue with the security budget. 235 00:12:04,360 --> 00:12:07,080 But the way that he described it just described it is if someone 236 00:12:07,080 --> 00:12:11,840 had own like only just heard about Bitcoin last week and this 237 00:12:12,200 --> 00:12:15,240 seemed really misinformed for for like JP Morgan which is like 238 00:12:15,240 --> 00:12:18,840 the biggest the biggest firm in finance, I would say probably 239 00:12:19,120 --> 00:12:23,040 other than BlackRock at the same time maybe doesn't need to care. 240 00:12:23,040 --> 00:12:26,800 I think we have the like the the highest profits ever our causes. 241 00:12:26,800 --> 00:12:28,560 So like maybe doesn't need to care. 242 00:12:28,560 --> 00:12:32,520 But it does seem kind of this seems like such a boomer, boomer 243 00:12:32,520 --> 00:12:36,480 take on on what's going on there then. 244 00:12:38,040 --> 00:12:41,560 But yeah that that's kind of been what's holding up and then 245 00:12:42,600 --> 00:12:47,200 in broader markets we obviously had for meme coins a few things 246 00:12:47,200 --> 00:12:52,440 going on. The main one was that Whiff and 247 00:12:52,440 --> 00:12:55,840 Solana you know meme coins, Chick coins they are just going 248 00:12:56,000 --> 00:12:59,160 wild at the moment. I put up a tweet about that a 249 00:12:59,160 --> 00:13:05,160 few days ago but there's a whiff hit 500 million I think on a 250 00:13:05,160 --> 00:13:08,080 Binance futures listing. We we have a similar playbook 251 00:13:08,080 --> 00:13:12,800 for this with with Bonk which got listed on on Binance futures 252 00:13:12,800 --> 00:13:16,480 and then and then eventually got listed on spot the spot listing 253 00:13:16,480 --> 00:13:23,760 was was the was the actual top and then but it's been bouncing 254 00:13:23,760 --> 00:13:26,880 around I think before we show I saw it was under 400 million now 255 00:13:26,880 --> 00:13:30,040 it's 420 it's like it's it's wild volumes going through 256 00:13:30,040 --> 00:13:34,800 there. Myra, which is like the which is 257 00:13:34,800 --> 00:13:38,200 the dog of the Solana founder who had on in December. 258 00:13:39,160 --> 00:13:44,200 That coin has hit 250 million on some listings and it just feels 259 00:13:44,200 --> 00:13:49,800 like, yeah, Solana Solana Meme Coins is where a lot of crazy 260 00:13:49,800 --> 00:13:52,880 activity is going on in in terms of the individual coin space, 261 00:13:52,880 --> 00:13:57,560 yeah. I think you have a lot of things 262 00:13:57,560 --> 00:14:01,120 going for that ecosystem right now in terms of like the shit 263 00:14:01,120 --> 00:14:03,720 coin stuff like every. There's always like I feel like 264 00:14:03,720 --> 00:14:06,320 when you're on crypto too bit so there's always like one place at 265 00:14:06,320 --> 00:14:08,480 any given moment in time which seems to be like the popular 266 00:14:08,480 --> 00:14:11,520 casino and the casino was like NFTS. 267 00:14:11,520 --> 00:14:15,320 You're in 2021-2022 you've had periods of like ETH shit coins 268 00:14:15,320 --> 00:14:19,680 in in 2022-2023 and then towards the end of last year with that 269 00:14:19,680 --> 00:14:22,280 with the big rise and bonk, we had this massive shit coin 270 00:14:22,280 --> 00:14:26,040 season on Solana. And you know ultimately the the 271 00:14:26,040 --> 00:14:27,360 big difference between that and Ethan. 272 00:14:27,360 --> 00:14:31,400 There's just like a a over said thing now at this point in time 273 00:14:31,400 --> 00:14:34,040 but like you know someone who wants to gamble with $1.00 they 274 00:14:34,040 --> 00:14:36,080 can do it on Solana, you can't really do it on ETH because of 275 00:14:36,080 --> 00:14:37,360 the difference in transaction fees. 276 00:14:37,360 --> 00:14:42,240 So there's it's not surprising to see that finally take off and 277 00:14:42,640 --> 00:14:45,120 I think you just needed to see one success, big success story 278 00:14:45,160 --> 00:14:47,280 out of it to attract capital to it and that was Bonk. 279 00:14:48,080 --> 00:14:52,560 Now you have the rise of dog with hat, which people have made 280 00:14:52,560 --> 00:14:55,840 tons of money on and that's probably like in my opinion 281 00:14:56,120 --> 00:14:59,000 given the volumes it's had in the past few days and it's 282 00:14:59,000 --> 00:15:01,880 following the same path as Bonk. With the finance futures listing 283 00:15:01,880 --> 00:15:04,080 like that, you would expect maybe a good shot of getting 284 00:15:04,600 --> 00:15:08,440 tier one exchange listings and that's that success story. 285 00:15:08,440 --> 00:15:10,560 The second success story is going to again attract people 286 00:15:10,560 --> 00:15:13,280 back to their ecosystem to try and make money. 287 00:15:13,280 --> 00:15:16,000 And you know on top of that you have the whole AirDrop thing. 288 00:15:16,000 --> 00:15:18,480 Like you had the whole AirDrop thing for ETH two or three years 289 00:15:18,480 --> 00:15:19,400 ago. You had the whole AirDrop thing 290 00:15:19,400 --> 00:15:22,320 for Solana right now and people made money on Geeta, which then 291 00:15:22,320 --> 00:15:27,640 feels like it went back into to Solana shit coins. 292 00:15:27,640 --> 00:15:29,800 Then you have the Jupiter AirDrop which is confirmed for 293 00:15:29,800 --> 00:15:32,720 the 31st of January and I'm sure some of those proceeds will go 294 00:15:32,720 --> 00:15:36,240 back into the ecosystem as well. So it's just like there's just a 295 00:15:36,240 --> 00:15:38,640 lot going on there and I think a lot going for it, which means 296 00:15:38,960 --> 00:15:42,520 that casino I think can continue and we will see ups and downs 297 00:15:42,520 --> 00:15:45,120 and we'll see different rises And you know there may be new 298 00:15:45,120 --> 00:15:47,680 coins that rally with each mini season or season or whatever. 299 00:15:47,680 --> 00:15:50,280 It's hard to always judge where to make money there. 300 00:15:50,280 --> 00:15:55,200 But I just think that activity on Solana in terms of like it 301 00:15:55,200 --> 00:15:57,440 being the casino and like the degen centre is going to 302 00:15:57,440 --> 00:15:59,360 continue, I think. I think it's not going to slow 303 00:15:59,360 --> 00:16:01,400 down. Yeah, it surprised me that 304 00:16:01,400 --> 00:16:05,280 Solana isn't higher though in that world, right? 305 00:16:05,400 --> 00:16:08,040 What surprised me is that it seems to still be dominating the 306 00:16:08,040 --> 00:16:11,680 majority of activity, but then Solana still I got obviously 307 00:16:11,680 --> 00:16:15,320 it's been on a huge run, but it kind of hit 104 maybe overnight 308 00:16:15,320 --> 00:16:17,080 and then then went straight lower. 309 00:16:17,080 --> 00:16:22,680 I I was convinced yesterday that after with was got listed or was 310 00:16:22,680 --> 00:16:25,240 rooms of it get getting listed that we were going to see 311 00:16:25,240 --> 00:16:29,080 someone this ghost like tap teleport up to like 1120 but 312 00:16:29,080 --> 00:16:31,440 then still seems a little bit depressed. 313 00:16:31,440 --> 00:16:34,200 I don't, I mean that's just one coin right now so I wouldn't 314 00:16:34,200 --> 00:16:38,160 read too much into it but I do feel as though that one if this 315 00:16:38,160 --> 00:16:42,040 continues, if this just day after day after day there's a 316 00:16:42,040 --> 00:16:47,440 new there's a new coin, I think that's that's going to be 317 00:16:47,440 --> 00:16:51,120 important for it. On the east side there are 318 00:16:51,120 --> 00:16:54,000 there's a couple of very you've got the Manta AirDrop I think 319 00:16:54,000 --> 00:16:59,240 happening today right, which is the the blast the you know it 320 00:16:59,240 --> 00:17:02,200 has a native yield it's got a lot of similar tech at least to 321 00:17:02,200 --> 00:17:06,359 BLAST, slightly different team I think it's Manta is backed by 322 00:17:07,359 --> 00:17:11,160 power chain I think and Binance. So it's obviously going to get a 323 00:17:11,160 --> 00:17:16,440 huge Binance listing and I think BLAST obviously is is all the 324 00:17:16,440 --> 00:17:21,920 Blur guys plus plus Paradigm and and Standard slightly different 325 00:17:22,520 --> 00:17:26,839 cruise, but that's a 2 1/2 billion dollar fully diluted 326 00:17:27,240 --> 00:17:29,320 market value. Obviously it's dropping today. 327 00:17:29,320 --> 00:17:33,600 I think it'll be interesting to see where that shakes out for 328 00:17:33,600 --> 00:17:35,280 anyone who's got their money in BLAST. 329 00:17:35,600 --> 00:17:37,200 We had a debate about this earlier. 330 00:17:37,200 --> 00:17:41,480 So I think the main difference between Manta and BLAST, the 331 00:17:41,480 --> 00:17:46,480 tech is, is not dissimilar in terms of some some of the stuff 332 00:17:46,520 --> 00:17:49,120 they're asking. I think BLAST has 1.3 billion 333 00:17:49,120 --> 00:17:52,120 TVL. Manta has something just shy of 334 00:17:52,120 --> 00:17:55,920 900 million. So not huge differences in CVL 335 00:17:56,160 --> 00:17:58,760 native yield. It's a different team, maybe 336 00:17:58,760 --> 00:18:01,920 Manta has finance behind it. There's been quite a lot of FUD 337 00:18:02,480 --> 00:18:05,040 seemingly about the AirDrop process at Manta. 338 00:18:05,040 --> 00:18:08,320 They had a DDoS attack yesterday which made it more difficult for 339 00:18:08,320 --> 00:18:12,800 people to potentially clean their AirDrop and it looks as 340 00:18:12,800 --> 00:18:17,560 though maybe some of the some of the Locket, even though the 341 00:18:17,560 --> 00:18:22,200 AirDrop only went up to maybe a few days ago, you if you put 342 00:18:22,200 --> 00:18:23,920 your money on there, you're still locked for the next two 343 00:18:23,920 --> 00:18:26,560 months. So it's like some people who put 344 00:18:26,560 --> 00:18:28,720 their money on very recently have been annoyed that they they 345 00:18:28,720 --> 00:18:33,600 missed out on the AirDrop. And I know I see CBCBB the the 346 00:18:33,600 --> 00:18:36,280 famous blur farmer just like flooding them daily claiming 347 00:18:36,280 --> 00:18:37,640 they don't even have ACTO right now. 348 00:18:37,720 --> 00:18:42,080 Who knows, maybe true, but they've definitely had some FUD 349 00:18:42,080 --> 00:18:45,840 along this process. The other big thing that I 350 00:18:45,840 --> 00:18:50,640 noticed they which I mean I I put out my calculators for I 351 00:18:50,640 --> 00:18:54,880 think for BLAST, but they're only doing 5% AirDrop, which I 352 00:18:54,880 --> 00:18:56,080 thought was quite a big difference. 353 00:18:56,280 --> 00:19:00,480 I think arbitrary optimism and most people expect BLAST to be a 354 00:19:00,480 --> 00:19:03,960 10% AirDrop. So what do you think, do you 355 00:19:03,960 --> 00:19:06,480 think, do you think this is a big deal for the for the market 356 00:19:06,480 --> 00:19:10,800 here? Yeah, what for the Manta? 357 00:19:11,360 --> 00:19:14,480 For the blast play for for all the like, I don't know 358 00:19:14,960 --> 00:19:19,000 Ecosystem, yeah. I do think this idea of like 359 00:19:19,000 --> 00:19:23,360 being on a chain that generates your is maybe like not focused 360 00:19:23,360 --> 00:19:25,480 on enough at the moment. I think it's going, it's hitting 361 00:19:25,480 --> 00:19:28,760 the headlines a bit more now with Blast offering the 362 00:19:28,760 --> 00:19:31,840 developer incentives and obviously Mansa launching now 363 00:19:31,840 --> 00:19:32,920 and people are becoming wise to it. 364 00:19:32,920 --> 00:19:34,920 But it's it's pretty cool like for like for no one. 365 00:19:34,920 --> 00:19:38,160 Like for people who haven't really experienced this yet and 366 00:19:38,160 --> 00:19:40,920 you probably haven't. Like for example, I've I've 367 00:19:40,920 --> 00:19:43,920 bridged my ETH to blast, I've just sent it to the multi stick. 368 00:19:43,920 --> 00:19:48,840 But now my ETH on that chain just starts earning yield 369 00:19:48,840 --> 00:19:50,880 because like they have the implied treasury yield backed 370 00:19:50,880 --> 00:19:53,480 into it. So you know, just imagine like 371 00:19:53,480 --> 00:19:56,640 you're holding ETH on ETH and you're able to actually just 372 00:19:56,640 --> 00:19:59,080 earn yield on it without having to like stake it or put it into 373 00:19:59,080 --> 00:20:04,920 any specific. Protocol or whatever. 374 00:20:04,920 --> 00:20:08,160 Like you still have custody of your of your ETH but you're 375 00:20:08,160 --> 00:20:09,840 actually earning yours on it. Like I think that's quite a 376 00:20:09,840 --> 00:20:12,400 powerful thing, especially for people. 377 00:20:12,480 --> 00:20:14,280 You know, if you have one or two weeks, you probably don't really 378 00:20:14,280 --> 00:20:15,400 care. But if you're someone with like 379 00:20:15,400 --> 00:20:20,360 thousands of ETH and you're, you know like a project with a big 380 00:20:20,360 --> 00:20:23,440 treasury or whatever, the ability to earn 234 percent, I 381 00:20:23,440 --> 00:20:27,400 think it's 4% right now on it without actually having to put 382 00:20:27,400 --> 00:20:30,120 your ETH onto a protocol and still self custody it. 383 00:20:30,400 --> 00:20:33,760 I think it's a pretty big thing. So Manta and Blast both offer 384 00:20:34,160 --> 00:20:38,040 these things. I guess like Manta, it sounds 385 00:20:38,040 --> 00:20:40,400 like Manta was maybe working on it before blasted and then Blast 386 00:20:41,040 --> 00:20:44,400 got all the TVL and which is a bit more aggressive about taking 387 00:20:44,400 --> 00:20:47,280 in the money upfront. And then Manta has sort of been 388 00:20:47,280 --> 00:20:53,360 attacking Blast in in the in the in the advertising and stuff 389 00:20:53,360 --> 00:20:55,280 they've put out. So it's kind of like a Manta 390 00:20:55,280 --> 00:21:00,480 versus blasting right now but it it's looking at who's supporting 391 00:21:00,480 --> 00:21:02,840 who. You know a lot of the crypto a 392 00:21:02,840 --> 00:21:05,440 lot of critics Twitter, OG people seem to be on on the 393 00:21:05,440 --> 00:21:09,360 blast train compared to Manta. And my guess is that blast will 394 00:21:09,360 --> 00:21:12,560 come at a higher FTV than the Manta will when it eventually 395 00:21:12,560 --> 00:21:15,320 launches just because I think they have the marketing stuff 396 00:21:15,320 --> 00:21:19,040 down better and and it's weird like people a lot of NFT people 397 00:21:19,040 --> 00:21:22,200 don't really like Blur but I think no one thinks Pac-Man 398 00:21:22,320 --> 00:21:24,600 isn't an amazing builder in terms of what he's actually 399 00:21:24,960 --> 00:21:27,360 created. Whether or not you like the 400 00:21:28,520 --> 00:21:32,240 results or not is a separate question, but you know, and you 401 00:21:32,240 --> 00:21:33,840 have the whole paradigm backing all that kind of stuff. 402 00:21:33,840 --> 00:21:37,120 So yeah, I think that's going to be the one that's going to be 403 00:21:37,120 --> 00:21:40,280 more eagerly anticipated and I'm fully talking my bags there. 404 00:21:41,280 --> 00:21:43,360 No, I think you're right. I do think it comes higher. 405 00:21:43,360 --> 00:21:46,000 It's obviously got more TBL over a short period. 406 00:21:46,160 --> 00:21:48,480 So they've done better at the marketing side of stuff. 407 00:21:48,480 --> 00:21:49,680 It's got different people involved. 408 00:21:49,720 --> 00:21:52,960 I think people think, think, come, think, come higher. 409 00:21:53,160 --> 00:21:55,600 I think there are still some assumptions about the AirDrop. 410 00:21:56,920 --> 00:21:59,280 The only one that struck me with this one is it's 5%. 411 00:21:59,280 --> 00:22:01,280 Like if they come with 5%, I think I would disappoint people 412 00:22:01,280 --> 00:22:04,160 if they come with 10%, hopefully that's that's right on the 413 00:22:04,160 --> 00:22:07,560 screws. And what I mean by that is like 414 00:22:07,560 --> 00:22:10,120 normally with her an air drop for a lot, the vast majority of 415 00:22:10,120 --> 00:22:13,600 air drops you'd normally seen about 10% go in the first in the 416 00:22:13,600 --> 00:22:16,880 first air drop. So we'll wait to see, we'll wait 417 00:22:16,880 --> 00:22:19,000 to see what happens there. But it does feel as though that 418 00:22:19,000 --> 00:22:23,440 could be near term important for for what's going on in some of 419 00:22:23,440 --> 00:22:29,200 these L twos arbitrary still you know crushing it near near its 420 00:22:29,200 --> 00:22:33,880 near its high. But yeah this seems to have 421 00:22:33,880 --> 00:22:39,800 taken the the short term short term focus and then in the NFT 422 00:22:39,800 --> 00:22:43,480 space it's been really just one thing that everyone's talking 423 00:22:43,480 --> 00:22:47,840 about right like every single day pudgy Penguin seems to be 424 00:22:47,840 --> 00:22:52,440 higher pudgy Penguins is is. I'm just looking at it now on 425 00:22:52,440 --> 00:22:56,800 degens, but we are looking at a 19th floor right now in Pudgy 426 00:22:56,800 --> 00:23:00,280 Penguins. Yesterday it was at I think 16. 427 00:23:01,440 --> 00:23:06,080 It's up nearly 90% on the week. I think it started started a 428 00:23:06,080 --> 00:23:07,760 week ago was was just above 10 ETH. 429 00:23:09,440 --> 00:23:12,600 What's driving this? It's a little bit confusing 430 00:23:12,600 --> 00:23:14,360 because I think some people are trying to claim there is 431 00:23:14,400 --> 00:23:16,160 something driving and some people are trying to claim that 432 00:23:16,200 --> 00:23:20,960 you know, it's just it's just a market realizing again that this 433 00:23:20,960 --> 00:23:24,160 this is going to, this is a much Better Business model than some 434 00:23:24,160 --> 00:23:26,360 of the other ones out there and and it's being rewarded. 435 00:23:26,560 --> 00:23:30,080 We even set at the start of the show for our predictions for 436 00:23:30,080 --> 00:23:33,040 Pudgy Penguins that it could be, it could go to this level and 437 00:23:33,040 --> 00:23:35,440 it's done it already within you know a week. 438 00:23:36,440 --> 00:23:39,840 What do you think of them here? I saw someone just spent 50 ETH 439 00:23:39,840 --> 00:23:45,440 on three different three different gold pudgies right as 440 00:23:45,440 --> 00:23:47,200 this show went. Wow. 441 00:23:48,640 --> 00:23:54,080 Yeah, I think NFTS can often very much be a sentiment thing 442 00:23:54,160 --> 00:23:58,280 and we've seen, we saw what happened post blurb, but we've 443 00:23:58,280 --> 00:24:03,120 also saw sentiment crush many projects like Moonbirds and you 444 00:24:03,120 --> 00:24:08,720 know Yuga to to an extent. But on the flip side this has 445 00:24:08,720 --> 00:24:10,720 been in in Pudgy Penguins bar has been incredible. 446 00:24:10,720 --> 00:24:13,200 Like I think Luke has basically gone out there and delivered on 447 00:24:13,200 --> 00:24:17,360 everything that he said he would and they've nailed the like 448 00:24:17,360 --> 00:24:22,400 marketing and media coverage over it and both the web three 449 00:24:22,400 --> 00:24:25,040 world and the traditional world. So it's just like if you own a 450 00:24:25,040 --> 00:24:27,360 pudgy Penguin, like why would you really want to sell it? 451 00:24:27,360 --> 00:24:29,600 Why would you really want to sell it at any point last year 452 00:24:29,600 --> 00:24:31,160 and why would you really want to sell it now? 453 00:24:31,160 --> 00:24:34,960 Because it just has always felt like the momentum on it is 454 00:24:34,960 --> 00:24:37,880 upwards and higher and it feel always feels like there's more 455 00:24:37,880 --> 00:24:40,560 coming. And Luke has now kind of proven 456 00:24:40,560 --> 00:24:42,760 the track record of being able to deliver them as well. 457 00:24:42,760 --> 00:24:46,120 So you know, where do they go and price like I don't know, 458 00:24:46,120 --> 00:24:49,240 like if they go to 50th, 100 maybe like I think, I think for 459 00:24:49,240 --> 00:24:54,960 it to get to you know the crazy yoga levels that we saw in 2021 460 00:24:54,960 --> 00:24:59,600 and 2022, you would need to have a token probably come to just 461 00:24:59,600 --> 00:25:02,400 like Turbocharge that and remember like everyone talks 462 00:25:02,400 --> 00:25:07,120 about apes being 400K or 500K floor, but that was when you had 463 00:25:07,120 --> 00:25:09,920 the Acorn AirDrop built in which everyone knew would be a 464 00:25:09,920 --> 00:25:14,000 success. And I think for, I think for, I 465 00:25:14,000 --> 00:25:16,640 think for party to get to like 1/2 a million dollar floor, you 466 00:25:16,640 --> 00:25:19,800 would need to have some kind of like expectation of something 467 00:25:19,800 --> 00:25:23,760 like that to boost its value baked into the price. 468 00:25:24,760 --> 00:25:26,600 And if you can, like they build, it sounds like they're building 469 00:25:26,600 --> 00:25:29,960 this whole pudgy world thing. There's a whole ecosystem now, 470 00:25:29,960 --> 00:25:32,240 not just the original pudgy Penguin, the NFTS. 471 00:25:32,240 --> 00:25:36,040 So everything like that is underpinned by in this world, 472 00:25:36,040 --> 00:25:37,520 and crypto's underpinned by a token. 473 00:25:37,520 --> 00:25:40,360 So I wouldn't be surprised if that's the direction they want 474 00:25:40,360 --> 00:25:42,120 to take. But there's obviously a lot of 475 00:25:42,120 --> 00:25:46,680 risks to assess and giving a token value is one of the 476 00:25:46,680 --> 00:25:49,400 hardest things to do in the space, you know, like beyond 477 00:25:49,400 --> 00:25:51,760 just like the initial value and how do you keep it going. 478 00:25:52,880 --> 00:25:56,160 But yeah, we'll we'll we'll see. I think, I think they will flip 479 00:25:56,160 --> 00:25:57,560 apes this year. I think they're on their way to 480 00:25:57,560 --> 00:26:01,080 doing it now, just maybe at a lower price than people 481 00:26:01,360 --> 00:26:04,160 originally expected. The way they can go beyond 482 00:26:04,160 --> 00:26:04,920 there. It's going to be pretty 483 00:26:04,920 --> 00:26:09,000 interesting to watch. Yeah, it does feel very highly 484 00:26:09,000 --> 00:26:10,720 likely they're about to flip apes. 485 00:26:10,800 --> 00:26:13,120 You obviously have again some of the big blur farmers moving 486 00:26:13,120 --> 00:26:16,920 their liquidity to from apes to pudgies. 487 00:26:18,360 --> 00:26:20,600 You have some big rare sales going through. 488 00:26:20,600 --> 00:26:22,720 Obviously there's speculation around a token. 489 00:26:22,840 --> 00:26:26,200 I know they're they they're like getting a random AirDrop as 490 00:26:26,200 --> 00:26:28,800 well, the dime AirDrop dimension I think it is. 491 00:26:29,280 --> 00:26:31,840 So people have been speculating that that could be involved here 492 00:26:31,840 --> 00:26:35,360 because that could be worth quite a lot because it's like a 493 00:26:35,360 --> 00:26:38,280 it's for all their zero users and and budget Penguins have 494 00:26:38,280 --> 00:26:42,400 been involved with that project. So yeah it's there's a few 495 00:26:42,400 --> 00:26:45,960 different things coming but it just, I don't know like if I 496 00:26:45,960 --> 00:26:48,800 take a step back I feel like they have the best business 497 00:26:48,800 --> 00:26:53,200 model in Web 3 right now right. Like if you'd everyone was to 498 00:26:53,200 --> 00:26:58,080 start at zero I would I feel like they they have done it the 499 00:26:58,080 --> 00:27:01,320 best. Maybe you could argue mad Lads 500 00:27:01,320 --> 00:27:03,880 have have shipped a lot of shipping a lot of different 501 00:27:03,880 --> 00:27:06,840 things from a utility standpoint. 502 00:27:07,880 --> 00:27:10,040 But I would say that budget bangs have been the most 503 00:27:10,040 --> 00:27:16,400 successful in terms of building a brand IP and well building 504 00:27:16,400 --> 00:27:19,760 commercialized brand, whereas maybe everyone's heard of the 505 00:27:19,760 --> 00:27:22,520 monkey Jpegs. But it hasn't necessarily 506 00:27:24,000 --> 00:27:26,280 continued in terms of commercial success. 507 00:27:26,280 --> 00:27:29,640 They've they've kind of stayed, stayed more gaming native and 508 00:27:29,640 --> 00:27:31,840 people said big questions about like whether other side's going 509 00:27:31,840 --> 00:27:33,480 to be successful. There's been quite a lot of fun 510 00:27:33,480 --> 00:27:36,840 around that recently. So it just feels like a surefire 511 00:27:36,840 --> 00:27:38,960 bet with pudgy Penguins that they're they're doing a, they're 512 00:27:38,960 --> 00:27:41,120 doing a good job. I don't know if that lasts for 513 00:27:41,120 --> 00:27:42,400 like 10 years or anything like that. 514 00:27:42,400 --> 00:27:43,840 Like it's very, very difficult to judge. 515 00:27:44,120 --> 00:27:47,440 These things can all change, but it does feel as though they've 516 00:27:47,440 --> 00:27:49,720 been in a fairly obvious bet for a while. 517 00:27:50,800 --> 00:27:52,840 I don't know, I was thinking about tweeting about this just 518 00:27:52,840 --> 00:27:56,520 before the show, which was sometimes it's just so obvious, 519 00:27:56,520 --> 00:27:58,600 these bets. Like, I remember we were talking 520 00:27:58,640 --> 00:28:03,360 about ETH just before the ETF came and I even was like, you 521 00:28:03,360 --> 00:28:06,520 know, it just seems too obvious. Pudgy Penguins have been so 522 00:28:06,520 --> 00:28:07,600 obvious. It's something that I think I 523 00:28:07,960 --> 00:28:09,760 that I need to appreciate a little bit more in crypto. 524 00:28:09,760 --> 00:28:14,080 It's just that the obvious trades, often they just happen. 525 00:28:14,120 --> 00:28:17,600 Like the market is so inefficient and obvious at times 526 00:28:17,760 --> 00:28:20,120 because everyone's trying to degen on the next thing. 527 00:28:20,360 --> 00:28:25,200 Like so often that actually just playing, playing the obvious 528 00:28:25,200 --> 00:28:29,120 trade at the right time is just is the right way to go. 529 00:28:29,120 --> 00:28:33,480 Pudgy Penguins They've been obvious since 5 E 4 E and yet 530 00:28:33,560 --> 00:28:38,560 you know they take they take a year to get to to 28th and 531 00:28:38,560 --> 00:28:41,080 they're probably going to keep on going now like and they'll 532 00:28:41,080 --> 00:28:43,080 probably still be obvious and we'll look back and be like oh 533 00:28:43,080 --> 00:28:46,720 why weren't why didn't you buy them then And it's the same with 534 00:28:46,720 --> 00:28:49,480 a few few like the coin narratives they're just so 535 00:28:49,480 --> 00:28:51,880 obvious and yet you don't pull the trigger you go after 536 00:28:51,880 --> 00:28:55,320 something more D Gen. and you kind of look back and be like I 537 00:28:55,320 --> 00:28:58,400 should just play it safe. But the obvious 4X where I've 538 00:28:58,400 --> 00:29:00,840 been going for the on obvious 100 X you know what I mean. 539 00:29:02,120 --> 00:29:05,800 Yeah, yeah, I understand. It's how it's things always feel 540 00:29:05,800 --> 00:29:07,600 more obvious in hindsight, though, than they do at the 541 00:29:07,600 --> 00:29:09,320 time. It's just like all of last year. 542 00:29:09,320 --> 00:29:11,440 Are you? Yeah, this is obvious. 543 00:29:12,760 --> 00:29:17,480 Yeah, yeah, I guess, but then like, yeah, I guess the, I guess 544 00:29:17,480 --> 00:29:20,080 it's just like now we're in this paradigm, it's like which it's 545 00:29:20,080 --> 00:29:22,120 not really like where can you make money. 546 00:29:22,120 --> 00:29:23,880 It's like which thing is going to make me the most money? 547 00:29:24,240 --> 00:29:26,800 That's the that's where in where we're at right now, so. 548 00:29:27,520 --> 00:29:30,400 What do you in that vein? What do you think of the obvious 549 00:29:30,400 --> 00:29:33,800 trades, the obvious trades that people are not looking at? 550 00:29:35,240 --> 00:29:37,160 Interest in the whole space, Yeah. 551 00:29:40,320 --> 00:29:42,200 I don't know if there's like obvious trades that people 552 00:29:42,200 --> 00:29:43,800 aren't looking at because I don't know. 553 00:29:44,120 --> 00:29:48,400 I I don't know like. I feel like Solano's one that. 554 00:29:48,400 --> 00:29:49,560 Feels like I would say it's like but it. 555 00:29:49,880 --> 00:29:52,560 Was not like it was obvious, like it showed it was going to 556 00:29:52,560 --> 00:29:53,880 go to that level. It's obvious. 557 00:29:54,320 --> 00:29:57,160 I was going to say Solano, but I think everyone's looking at it, 558 00:29:57,160 --> 00:29:58,240 right? I don't think no one's not 559 00:29:58,240 --> 00:30:00,320 looking at it. Yeah, if we aren't looking at it 560 00:30:00,320 --> 00:30:03,200 like ETH Maxis, but or ethic when Maxis. 561 00:30:03,440 --> 00:30:05,760 That's true. Like, I feel like budget 562 00:30:05,760 --> 00:30:09,640 Penguins in NFT space is is probably one of the more obvious 563 00:30:09,640 --> 00:30:13,240 ones like probably could go much higher now now. 564 00:30:13,240 --> 00:30:16,480 But it gets that like, you know, dabbling good status to it and 565 00:30:16,920 --> 00:30:21,240 golds are trading for, you know, 100 grand plus like suddenly 566 00:30:21,240 --> 00:30:23,960 suddenly they can be they can be picked up. 567 00:30:23,960 --> 00:30:27,840 Actually I had like a full on normie asked me about budget 568 00:30:27,840 --> 00:30:30,600 Penguins the other day and I was like, that's weird. 569 00:30:30,640 --> 00:30:34,240 That's the first time I've had somebody talk about an FT brand 570 00:30:34,240 --> 00:30:37,160 that wasn't in the FT space. And and she had literally zero 571 00:30:37,160 --> 00:30:41,200 clue about she was like, oh, I've I've been talking to 572 00:30:41,200 --> 00:30:42,920 someone about like these Penguins. 573 00:30:42,960 --> 00:30:44,680 I was like, Oh yeah, like, what do you mean? 574 00:30:45,160 --> 00:30:47,280 She's like, Oh yeah, I really like that they're on like giffy 575 00:30:47,280 --> 00:30:50,400 or whatever. So it just feels as though 576 00:30:50,400 --> 00:30:53,080 they're going, they're going mainstream and you just can't 577 00:30:53,080 --> 00:30:57,360 really, I don't know, you just can't really downplay that that 578 00:30:57,360 --> 00:31:01,160 can that can keep going. I feel like for the L, for some 579 00:31:01,160 --> 00:31:06,480 of the L ones, it's kind of a bit more obvious what the, what 580 00:31:06,480 --> 00:31:08,880 the top ones might be we would program Solana, but it feels 581 00:31:08,880 --> 00:31:13,280 like some of the other bigger ones recently say so we or I 582 00:31:13,280 --> 00:31:16,840 guess say L2, maybe even Tia. But they seem like kind of 583 00:31:16,840 --> 00:31:20,080 obvious trades now. But it's at that point in the 584 00:31:20,080 --> 00:31:23,320 cycle where if we keep going, I think we've already almost 585 00:31:23,320 --> 00:31:26,040 decided you're you're early enough to know which ones the 586 00:31:26,040 --> 00:31:28,000 winners are probably going to be. 587 00:31:28,360 --> 00:31:30,760 And now it's just to see how long they're going to run. 588 00:31:31,000 --> 00:31:34,560 So I don't know if there's any. I think mean Coins is a little 589 00:31:34,560 --> 00:31:37,320 bit difficult to talk about because it's so transient and 590 00:31:37,320 --> 00:31:40,840 like once you get that final listing, it can kind of die or 591 00:31:40,960 --> 00:31:44,240 take a long time to consolidate as we've seen with like Bonk or 592 00:31:44,240 --> 00:31:48,960 Pepe or any of the others. But yeah, that's what I'm going 593 00:31:48,960 --> 00:31:50,800 to be looking at. I'm going to write down my top 594 00:31:50,800 --> 00:31:53,960 my top five trades for this cycle, which are just obvious 595 00:31:54,080 --> 00:31:56,560 and we'll probably keep going if the cycle keeps going because if 596 00:31:56,560 --> 00:31:59,120 that if that happens, then then these things can still do a 597 00:31:59,280 --> 00:32:02,720 5X10X whatever. I think, I think you're right on 598 00:32:02,720 --> 00:32:06,360 Solana. I think I think it's shown its 599 00:32:06,360 --> 00:32:10,720 hand and of the other chains, it's the one with all the 600 00:32:10,720 --> 00:32:13,920 activity right now and still has plenty of air drops coming and 601 00:32:13,920 --> 00:32:18,920 the the like real, real TVL. And I think you're right. 602 00:32:18,920 --> 00:32:22,720 I think we're going to look back in six months or a year or 603 00:32:22,720 --> 00:32:25,240 whatever and just think wow Solana, that was just so 604 00:32:25,240 --> 00:32:27,440 obvious. It reminds me of like when. 605 00:32:28,440 --> 00:32:33,080 It reminds you of like March 2021 when we first started 606 00:32:33,080 --> 00:32:36,280 collecting NFTS on ETH and we were just like doing all this 607 00:32:36,280 --> 00:32:39,680 like stuff for like coins like ERC 20s and NFTS and all this 608 00:32:39,680 --> 00:32:42,440 different stuff. And we were like man, like we're 609 00:32:42,440 --> 00:32:45,920 just using ETH every day. Like how is ETH still at 1200 or 610 00:32:45,920 --> 00:32:48,840 whatever it was or 1100 like ETH should be like way higher than 611 00:32:48,840 --> 00:32:49,960 this. And then ETH went ahead and 612 00:32:49,960 --> 00:32:51,440 tripled over the next few months. 613 00:32:51,880 --> 00:32:53,920 I can see something like that happening on Salina I think. 614 00:32:54,840 --> 00:32:57,440 And the and the market cap of ETH then was like much higher 615 00:32:57,440 --> 00:33:01,840 than the market cap of Solana now like equals what 1100 or 616 00:33:01,840 --> 00:33:05,680 1200. So it was at $150 billion market 617 00:33:05,680 --> 00:33:07,520 cap and Solana right now is at 42, so. 618 00:33:08,400 --> 00:33:11,040 Yeah, yeah. I guess ordinals might be 619 00:33:11,040 --> 00:33:12,960 another one, though. It's still a little bit early to 620 00:33:12,960 --> 00:33:15,680 work out what to buy and how to buy it. 621 00:33:15,920 --> 00:33:17,600 I'm looking at these. I'm looking at these puppets, 622 00:33:17,600 --> 00:33:19,120 man. I keep on looking at them. 623 00:33:19,240 --> 00:33:22,160 They were up yesterday. There's a good dip in them 624 00:33:22,160 --> 00:33:24,240 actually, and there's a good dip like a couple of they went to. 625 00:33:24,880 --> 00:33:27,440 I just didn't have the balls. I didn't have the balls to sweep 626 00:33:27,480 --> 00:33:31,680 them. So I'm I'm, I'm potentially in 627 00:33:31,680 --> 00:33:32,840 the Publix market. Who knows? 628 00:33:34,200 --> 00:33:37,720 All right, look, I think that's, that's it for the show. 629 00:33:37,720 --> 00:33:40,440 Potentially, I think. I think, yeah, look out for the 630 00:33:40,480 --> 00:33:43,520 different man to drop today. I think that's going to define 631 00:33:44,200 --> 00:33:46,680 short term. Short term trading for a little 632 00:33:46,680 --> 00:33:50,080 bit how people do it Looks like that crypto undead's mint hasn't 633 00:33:50,360 --> 00:33:52,960 really gone as planned but they may be reveal. 634 00:33:53,120 --> 00:33:55,440 I think they're trying to move stuff a little bit forward like 635 00:33:55,440 --> 00:33:58,640 that Krypton, Deadsmint. Where are they trading now? 636 00:33:58,760 --> 00:34:04,800 Jesus, let me even have a look. Yeah 1111 Soul. 637 00:34:05,080 --> 00:34:06,560 So they kind of stuck where they were. 638 00:34:07,360 --> 00:34:10,080 But yeah that that they're holding on. 639 00:34:10,159 --> 00:34:12,159 It feels like their volumes have definitely gone down. 640 00:34:12,600 --> 00:34:15,159 Open Soul Map is is the number one project at the moment. 641 00:34:15,800 --> 00:34:18,320 But yeah it feels as though that's going to define short 642 00:34:18,320 --> 00:34:20,080 term sentiment. Hopefully we see pudgy Penguins 643 00:34:20,880 --> 00:34:23,480 continue going continue going. It feels like they're they're on 644 00:34:23,480 --> 00:34:28,520 their way to have a have a fight with with apes at around 24 or 645 00:34:28,520 --> 00:34:30,639 25, doesn't it? It doesn't feel like if you own 646 00:34:30,639 --> 00:34:34,000 a pudgy right now you're not selling right, like you're just 647 00:34:34,000 --> 00:34:38,000 a bad guy If you're selling them all bad, bad girl, you don't. 648 00:34:38,000 --> 00:34:40,199 You don't sell. You don't sell at 19 when when 649 00:34:40,199 --> 00:34:41,679 the difference is only four or five. 650 00:34:41,679 --> 00:34:44,960 Eight to to put apes. So yeah, let's we'll book that 651 00:34:44,960 --> 00:34:46,920 for next week. All right. 652 00:34:47,040 --> 00:34:50,800 Look, that's it for for today. Thank you again Ledger for for 653 00:34:51,080 --> 00:34:53,760 sponsoring the show go check them out. 654 00:34:53,800 --> 00:34:56,760 We use them for all our security stuff and we will see you 655 00:34:56,760 --> 00:34:57,240 tomorrow with.