1 00:00:02,960 --> 00:00:07,080 Good morning. Good morning, GMGM 2 00:00:29,600 --> 00:00:38,800 August 5th, 2020 Four. But I don't have it in me bro. 3 00:00:39,760 --> 00:00:42,920 What's up y'all? How you doing Tyler? 4 00:00:42,920 --> 00:00:45,400 How you doing man? Though I I I I can't even fake 5 00:00:45,400 --> 00:00:47,600 this shit dude. I I I I hate today. 6 00:00:47,600 --> 00:00:54,000 How you guys doing fuck. Trainers are born for days like 7 00:00:54,000 --> 00:00:56,400 today, my friend. I am not a traitor. 8 00:01:01,320 --> 00:01:04,120 Well, appreciate your comedic relief at at least. 9 00:01:04,519 --> 00:01:07,080 Yeah, I think we, we, we all need a little bit of that. 10 00:01:07,480 --> 00:01:08,840 Yeah. I mean, it's, it's Black Monday, 11 00:01:08,840 --> 00:01:10,040 right? It's kind of Black Sunday. 12 00:01:10,640 --> 00:01:12,320 Black. It's been black fucking every 13 00:01:12,320 --> 00:01:16,600 day bro. This is selling May go away. 14 00:01:16,600 --> 00:01:22,160 It's like it's smelling in January, February, March, April, 15 00:01:22,160 --> 00:01:24,480 May, June, July and you sell in August. 16 00:01:24,880 --> 00:01:27,200 I swear to God, if you guys do sell that September on my 17 00:01:27,200 --> 00:01:33,080 birthday month, June, I'm done. Jesus Christ, Black Monday, 18 00:01:33,080 --> 00:01:38,720 black Tuesday, Black Wednesday, black till this shit. 19 00:01:39,240 --> 00:01:42,440 Definitely what a day anyways, Oh my Lord. 20 00:01:42,480 --> 00:01:44,160 Well, we're back. We're we're definitely here. 21 00:01:44,160 --> 00:01:47,600 You know what at least I get to I get to I, I get to feel this 22 00:01:47,600 --> 00:01:50,760 way in my home. I get to feel this way my home. 23 00:01:50,760 --> 00:01:56,000 Oh look I open the timeline says wizard is calling for recession 24 00:01:56,000 --> 00:01:58,760 being cancelled so I guess wizard is going to save us 25 00:01:59,080 --> 00:02:01,520 anyways. It's just another drop in the 26 00:02:01,520 --> 00:02:03,160 water y'all. We've seen this before. 27 00:02:03,400 --> 00:02:06,360 We went through 11 weekly red candles on the morning show 28 00:02:06,360 --> 00:02:08,560 before. We've been through this shit 29 00:02:08,759 --> 00:02:11,520 come on baby this year. What Mando said when we started, 30 00:02:11,520 --> 00:02:14,920 she said traders were born for days like this with Guess what? 31 00:02:14,920 --> 00:02:18,840 For all you non traders out there like me, you know Mama 32 00:02:18,840 --> 00:02:21,680 ain't raised no bitch. All right, so we got this, OK? 33 00:02:21,680 --> 00:02:23,280 It's just another drop in the water. 34 00:02:23,400 --> 00:02:26,080 They're going to cut the rates. And in the In the words of the 35 00:02:26,080 --> 00:02:31,000 wise Keith Grossman just texting me, he said grow a sack. 36 00:02:32,080 --> 00:02:34,280 Swear to God. Yeah, he said when going through 37 00:02:34,280 --> 00:02:36,200 hell, keep going. I remember last time he told me 38 00:02:36,200 --> 00:02:39,520 that we went on to build one of the most fire media brands in 39 00:02:39,520 --> 00:02:41,520 space. So it is what the fuck it is 40 00:02:41,520 --> 00:02:44,160 today on the show today, today daily market report. 41 00:02:44,160 --> 00:02:47,640 Mando, please, we will need you today to give us the best market 42 00:02:47,640 --> 00:02:51,280 report you've given in your entire career as a Twitter 43 00:02:51,280 --> 00:02:55,840 Space's host. I mean, dude, we've hosted like 44 00:02:55,840 --> 00:02:57,360 fucking 900 of these at this stage. 45 00:02:57,480 --> 00:02:59,600 This is already from our episode 172, bro. 46 00:03:00,160 --> 00:03:02,800 So, so we, we've hosted at least like a hundred of these with 47 00:03:02,800 --> 00:03:05,800 Tyler alone. So we, we're deep, we're deep. 48 00:03:06,080 --> 00:03:10,000 And then Tyler's top 100. I mean, if we even get there, I 49 00:03:10,000 --> 00:03:12,360 mean Tyler's top 100. I don't even want to know. 50 00:03:12,360 --> 00:03:16,400 I don't even want to hear it. I don't want to hear it today, 51 00:03:16,400 --> 00:03:18,240 bro. I, I have all charts closed on 52 00:03:18,240 --> 00:03:20,400 my computer. I have not a single meme coin, 53 00:03:20,720 --> 00:03:24,440 not a single major. I don't have AI have one tab 54 00:03:24,440 --> 00:03:27,800 open on my screen right now. It's X and and the stream yard. 55 00:03:28,120 --> 00:03:30,520 I guess I'll find out right now what my meme coins are at 56 00:03:31,240 --> 00:03:36,840 Tyler's at Tyler's bottom 100, Tyler's book on Tyler's bottom 57 00:03:36,840 --> 00:03:42,240 100 today, and then a new weekly sponsored segment on Mondays. 58 00:03:42,240 --> 00:03:45,200 We'll be talking about Arbitrum, Arbitrum's weekly update. 59 00:03:45,200 --> 00:03:46,440 So I don't know what we'll call it yet. 60 00:03:46,560 --> 00:03:48,560 We'll figure it out. You know, ours weekly update. 61 00:03:48,560 --> 00:03:50,200 What a day to start. Sorry y'all. 62 00:03:51,440 --> 00:03:54,600 What a day to start a weekly update on the Arbitrum 63 00:03:54,600 --> 00:03:58,960 ecosystem. Oh my God, dude. 64 00:03:58,960 --> 00:04:02,000 I, I, I think I'm laughing out of hysteria at this day. 65 00:04:02,000 --> 00:04:04,680 I had a great sleep. I woke up to this. 66 00:04:04,800 --> 00:04:07,640 My my urine gave me 92% score on my sleeve. 67 00:04:07,640 --> 00:04:09,720 It was the best score I've had since I bought the fucking 68 00:04:10,440 --> 00:04:12,400 right. Well, I thought it was wonderful 69 00:04:12,400 --> 00:04:16,320 as well King, until it wasn't. But anyways, Mando, you know I'm 70 00:04:16,320 --> 00:04:18,640 giving enough to you. I already I already need a 71 00:04:18,640 --> 00:04:24,400 break. Who is the man? 72 00:04:24,640 --> 00:04:26,120 Michael? Daddy of the land. 73 00:04:29,720 --> 00:04:31,720 Can you dig it? Yeah. 74 00:04:31,720 --> 00:04:35,520 GM, everyone. So pretty horrific, I would say 75 00:04:35,520 --> 00:04:40,520 all around when we went, when we closed up on Friday, Friday had 76 00:04:40,640 --> 00:04:43,840 been not the best week for crypto, but it certainly wasn't 77 00:04:43,840 --> 00:04:45,280 like this. Bitcoin was hanging out around 78 00:04:45,280 --> 00:04:48,440 62 K. Those are the days Solana was 79 00:04:48,440 --> 00:04:54,280 trading at about 1:55, I think 150 to 160 and ETH was was above 80 00:04:54,520 --> 00:04:59,120 3000 like 3100 area. I think it it had been a little 81 00:04:59,120 --> 00:05:03,800 bit surprising that week just how badly I think crypto have 82 00:05:03,800 --> 00:05:05,400 been trading. We'd had a bit of a sell off in 83 00:05:05,400 --> 00:05:09,320 the in the NASDAQ, but it definitely felt like there are a 84 00:05:09,320 --> 00:05:14,160 few things coming together over the weekend things just got even 85 00:05:14,160 --> 00:05:18,920 worse and particularly this morning now there's a few things 86 00:05:18,920 --> 00:05:20,680 going on and I'll just rattle through them because it's 87 00:05:20,680 --> 00:05:22,160 difficult to work out which is the worst. 88 00:05:23,000 --> 00:05:26,240 The first one has been this yen carry trade, which has just been 89 00:05:26,240 --> 00:05:29,520 the move in dollar yen. So dollar yen is basically 90 00:05:29,520 --> 00:05:36,680 reversed all of its 2024 losses in the space of about a week or 91 00:05:36,680 --> 00:05:39,680 less. And basically what that trade 92 00:05:39,680 --> 00:05:44,040 is, just to really simplify it is it's very cheap to borrow 93 00:05:44,080 --> 00:05:47,200 assets or it was very cheap to borrow assets in yen. 94 00:05:47,640 --> 00:05:49,400 It was actually 0% interest rates over there. 95 00:05:49,680 --> 00:05:53,800 So a lot of people did globally, they would borrow yen, they 96 00:05:53,800 --> 00:05:56,520 would borrow in yen and then they buy risky assets. 97 00:05:56,520 --> 00:06:00,320 So they buy tech stocks, they might buy Bitcoin, they might 98 00:06:00,320 --> 00:06:05,560 buy, they might buy U.S. Treasuries, which are even 5%. 99 00:06:06,840 --> 00:06:10,680 And your only risk there is the movement in dollar yen, right? 100 00:06:11,080 --> 00:06:14,280 Because you, there's no, you're paying 0% interest often on, on 101 00:06:14,280 --> 00:06:17,160 the, on the loan. So as long as dollar yen doesn't 102 00:06:17,160 --> 00:06:22,080 move more than let's say 5% for for Treasuries or let's say tech 103 00:06:22,080 --> 00:06:27,720 stocks are up 15% this year or Bitcoin, which is up 50% or even 104 00:06:27,720 --> 00:06:31,840 more, you are going to be fine. Now what actually happened is it 105 00:06:31,840 --> 00:06:34,960 moved 15% in about 3-3 sessions, 4 sessions. 106 00:06:35,720 --> 00:06:41,800 And a bunch of people who were borrowing in yen had to hit the 107 00:06:41,800 --> 00:06:44,440 eject button. And this has been a multi year 108 00:06:44,440 --> 00:06:45,480 trade. This is not like something 109 00:06:45,480 --> 00:06:47,280 that's just been going on. This has been going on for a 110 00:06:47,280 --> 00:06:49,240 long time. Sometimes it's hedged, but even 111 00:06:49,240 --> 00:06:51,000 the cost of those hedges blew out as well. 112 00:06:51,760 --> 00:06:55,160 So you had a big unwinding and that happened a little bit on 113 00:06:55,160 --> 00:06:57,680 Friday. The VIX hit 30 on Friday, which 114 00:06:57,680 --> 00:07:00,720 everyone was like, wow, that's, that's a big move having been 115 00:07:00,720 --> 00:07:05,520 low for a long time. And then as soon as Japanese 116 00:07:05,520 --> 00:07:13,000 stocks opened on on on Monday, they went down 12%. 117 00:07:13,400 --> 00:07:18,960 So the biggest single move in many different Asian markets for 118 00:07:18,960 --> 00:07:21,000 decades. I think for since Taiwan, it was 119 00:07:21,000 --> 00:07:26,160 like 57 years, biggest two day move in Japanese stocks since 120 00:07:26,160 --> 00:07:31,680 1980s very, very big move. And people freaked out in crypto 121 00:07:31,680 --> 00:07:33,560 as well. They have been freaking out for 122 00:07:33,560 --> 00:07:37,760 a little bit, but that really caused us to go from 60K to 50K 123 00:07:37,760 --> 00:07:39,440 pretty quickly. I was actually asleep. 124 00:07:39,440 --> 00:07:43,120 I, I woke up to that. But that is the idea that people 125 00:07:43,120 --> 00:07:48,240 suddenly realizing they have to pay back these, these yen and 126 00:07:48,240 --> 00:07:52,880 also the yen moved as well. So payback the yen assets and 127 00:07:52,880 --> 00:07:55,360 freaking out having to exit them. 128 00:07:55,360 --> 00:07:58,320 So you had like a global risk off in all markets because this 129 00:07:58,320 --> 00:08:01,840 affected this wasn't just in crypto, this affected all risk 130 00:08:01,840 --> 00:08:04,920 assets. The NASDAQ opened futures opened 131 00:08:04,920 --> 00:08:08,400 down 6%. It just felt like it was a 132 00:08:08,400 --> 00:08:10,840 really ugly day and and that kind of continued. 133 00:08:11,120 --> 00:08:13,240 Now, on top of that, there are a few other things going on. 134 00:08:13,240 --> 00:08:17,560 On the weekend. You had Trump going behind 135 00:08:17,560 --> 00:08:19,760 Kamala. Now Kamala was ahead in some of 136 00:08:19,760 --> 00:08:24,200 the some more of the polls, notably Nate Silver, which made 137 00:08:24,200 --> 00:08:28,680 people feel very, very worried. You had reports that Iran was 138 00:08:28,680 --> 00:08:31,720 going to attack Israel in the next 24 hours. 139 00:08:31,720 --> 00:08:32,840 They've been thought that it happened. 140 00:08:32,840 --> 00:08:34,960 It could happen on the weekend, but now it's going to happen 141 00:08:34,960 --> 00:08:38,600 before Wednesday seemingly. So people very, very uncertain 142 00:08:38,600 --> 00:08:45,040 about that. You had you had different firms 143 00:08:45,040 --> 00:08:47,440 in crypto liquidating. So the most notable one would be 144 00:08:47,440 --> 00:08:50,000 Jump. Jump has been liquidating for a 145 00:08:50,000 --> 00:08:51,920 while now. This has not been something that 146 00:08:52,200 --> 00:08:54,440 it just really hit headlines because they start to liquidate 147 00:08:54,440 --> 00:08:56,880 big, big clips of ETH over the weekend. 148 00:08:56,880 --> 00:09:02,240 So they liquidated around 500 million plus of ETH in just a 149 00:09:02,240 --> 00:09:03,760 few days. And this is happening on a 150 00:09:03,760 --> 00:09:05,720 Sunday while all of this is happening as well. 151 00:09:05,720 --> 00:09:08,360 So you get these like really horrific moves. 152 00:09:09,400 --> 00:09:11,880 This is one of the things about crypto is that as it becomes 153 00:09:11,880 --> 00:09:16,400 more of a macro thing, it is the one thing to trade on a weekend. 154 00:09:16,640 --> 00:09:20,000 And this was a real culmination of a bunch of different people 155 00:09:20,000 --> 00:09:22,840 freaking out on the weekend. So a bunch of people getting 156 00:09:22,840 --> 00:09:26,840 liquidated, people getting worried about, you know, macro 157 00:09:27,200 --> 00:09:30,160 politics. Then you had specifically to 158 00:09:30,160 --> 00:09:35,320 crypto some people liquidating. And I've heard anecdotally there 159 00:09:35,320 --> 00:09:36,280 were there were a couple of others. 160 00:09:36,280 --> 00:09:39,960 So yeah, it just, it just seemed to all come together at a pretty 161 00:09:39,960 --> 00:09:43,800 horrific time this morning. We were selling off before the 162 00:09:43,800 --> 00:09:46,720 NASDAQ opened and then we've seemingly bounced pretty 163 00:09:46,720 --> 00:09:49,320 aggressively on that open. So Bitcoin's back to 53 K. 164 00:09:49,320 --> 00:09:53,360 Let's go back theorem. Theorem is back to 2400. 165 00:09:53,520 --> 00:09:58,240 Solana is back to 127. So about 10% rise across the 166 00:09:58,240 --> 00:10:01,000 board in risk assets since over the last half an hour. 167 00:10:01,000 --> 00:10:04,560 Really, it had been looking pretty dark before that. 168 00:10:06,240 --> 00:10:07,320 Yeah. I I don't really know what to 169 00:10:07,320 --> 00:10:08,240 say. That was one of the biggest 170 00:10:08,240 --> 00:10:12,200 liquidation days I've seen one of the like, even I look back at 171 00:10:12,200 --> 00:10:16,520 that, that, you know, that nine week candle and ETH, this was 172 00:10:16,640 --> 00:10:20,200 this was way worse than that. As in not in total move, but 173 00:10:20,200 --> 00:10:23,320 like, this was none of the candles even came close to what 174 00:10:23,320 --> 00:10:27,200 we saw over the last week. ETH erased all of its 2024 175 00:10:27,200 --> 00:10:31,800 gains, all of its 2024 gains. ETH erased. 176 00:10:33,680 --> 00:10:37,880 Yeah, proper movie we. Went to 19. 177 00:10:38,240 --> 00:10:40,160 I must have been. It was like early your morning 178 00:10:40,160 --> 00:10:43,480 then I was. I'm up at 7:00 AM and that's 179 00:10:43,480 --> 00:10:46,560 when it was all her hitting, so I think Solana. 180 00:10:46,560 --> 00:10:51,280 Had texted me at 2:30 in the morning saying I the 1st I I the 181 00:10:51,280 --> 00:10:55,080 first thing I see this morning is Mando a text from Mando. 182 00:10:55,080 --> 00:10:59,760 Hold on let me read it to you guys at two at 2:46 AM. 183 00:11:00,600 --> 00:11:04,240 How hope you guys are all OK. This is a crazy move. 184 00:11:04,640 --> 00:11:09,400 I wake up to this shit at 6:55 AM because I'm jet lagged and I 185 00:11:09,400 --> 00:11:12,720 and you know what I do? I pray not a religious man and I 186 00:11:12,720 --> 00:11:16,800 open quick market cap and then I was stuck in bed for an hour. 187 00:11:18,520 --> 00:11:22,200 I was just like. I got, I got up and out me and, 188 00:11:22,200 --> 00:11:24,880 you know, we had an emergency meeting about what we should do, 189 00:11:26,440 --> 00:11:27,600 which we made some good calls on. 190 00:11:28,200 --> 00:11:32,400 And yeah, look, I think it's, it was just a crazy, yeah. 191 00:11:32,400 --> 00:11:34,440 When you see a move out in the VIX, the VIX is a really 192 00:11:34,440 --> 00:11:36,240 important thing to to pay attention to because the VIX 193 00:11:36,240 --> 00:11:38,600 doesn't really. Because everyone talks about VIX 194 00:11:38,600 --> 00:11:41,640 this, VIX that, but I think 99.9% of us don't know what it 195 00:11:41,640 --> 00:11:45,160 is, including myself like. Just completely simplify it. 196 00:11:45,160 --> 00:11:51,240 VIX equals volatility. So the idea that the VIX blowing 197 00:11:51,240 --> 00:11:53,920 out to 30 and it's, it's also implied volatility. 198 00:11:53,920 --> 00:11:57,320 So it basically indicates that everyone thinks the market's 199 00:11:57,320 --> 00:12:01,560 going to go a lot lower. Normally it doesn't hit sixty 200 00:12:01,560 --> 00:12:06,480 that often. It hit 63 or 65. 201 00:12:06,480 --> 00:12:07,960 Yeah, pre market. I've. 202 00:12:08,320 --> 00:12:12,920 I only remember Vicks hitting that level in the weeks around 203 00:12:12,920 --> 00:12:15,200 COVID. Like it would hit that on 204 00:12:15,200 --> 00:12:17,720 multiple days. I remember, I remember sitting 205 00:12:18,480 --> 00:12:22,400 in an airport hangar near this is how all the banks were set 206 00:12:22,400 --> 00:12:24,000 up. So you'd like you'd sit during 207 00:12:24,000 --> 00:12:25,360 that period. Like they put you to like 208 00:12:25,360 --> 00:12:28,200 disaster recovery during COVID. So I was like in an airport 209 00:12:28,200 --> 00:12:31,080 hanging near Heathrow Airport and just seeing the VIX hit that 210 00:12:31,080 --> 00:12:32,840 level. It opened like that. 211 00:12:33,480 --> 00:12:35,560 This just didn't feel that bad compared to this. 212 00:12:35,560 --> 00:12:38,040 This felt as though a lot of people offside rather than 213 00:12:38,040 --> 00:12:39,840 anything specific. COVID, right? 214 00:12:39,840 --> 00:12:42,240 COVID was COVID, people thought the world was going to end. 215 00:12:43,040 --> 00:12:47,600 If you track back to what caused this job, the jobs missed BY60K 216 00:12:47,600 --> 00:12:52,600 jobs, there's an expectation OF115K jobs and it hit 175 S. 217 00:12:52,600 --> 00:12:55,600 It was the expectation of 175. It hit 115 K. 218 00:12:55,960 --> 00:13:02,680 So we missed jobs by 60K on NFPS and they didn't cut rates by 1/4 219 00:13:02,680 --> 00:13:07,320 point and Vicks hits 65. That is not COVID. 220 00:13:07,720 --> 00:13:10,960 So for me this was nothing like that in terms of how horrific it 221 00:13:10,960 --> 00:13:13,040 was. It just tells you how big people 222 00:13:13,040 --> 00:13:17,400 in this trade and that the unwind. 223 00:13:17,400 --> 00:13:20,400 What's interestingly is that crypto. 224 00:13:20,600 --> 00:13:22,880 I wouldn't have all the asset classes in the world. 225 00:13:22,880 --> 00:13:24,320 Again, I would not have picked crypto. 226 00:13:24,640 --> 00:13:26,840 I don't think many people are borrowing in the end to buy 227 00:13:26,840 --> 00:13:28,760 Bitcoin. It's been very, very popular to 228 00:13:28,760 --> 00:13:34,760 borrow in yen to buy real estate assets to buy anything with 229 00:13:34,760 --> 00:13:37,400 risk, but not really crypto. It's not like a big you can't 230 00:13:37,400 --> 00:13:40,760 even have like Japanese banks aren't really lending to a lot 231 00:13:40,760 --> 00:13:41,680 of crypto people. Anywhere. 232 00:13:41,680 --> 00:13:43,160 That's why I don't understand what's going on now. 233 00:13:43,160 --> 00:13:46,000 Like I see all this stuff about Japan and as someone who's not 234 00:13:46,000 --> 00:13:48,520 in finance nor I have a background in finance, I'm just 235 00:13:48,520 --> 00:13:51,240 an enjoyer of the space. Why the fuck does Japan have so 236 00:13:51,240 --> 00:13:52,840 much to do with my bags? Like what's the? 237 00:13:52,840 --> 00:13:56,200 What's the? Yeah, I've read conspiracies 238 00:13:56,200 --> 00:13:59,840 that like some someone attached to Jump was perhaps a was 239 00:14:00,040 --> 00:14:02,800 affiliated to this as well. But to be honest, all this tells 240 00:14:02,800 --> 00:14:06,200 me is that crypto, just because it's the only thing that's open 241 00:14:06,200 --> 00:14:09,000 on a weekend, people just hammer it. 242 00:14:09,480 --> 00:14:12,400 Like when they know they're about to get hammered on tech 243 00:14:12,400 --> 00:14:15,200 stocks or they know they're going about to get hammered on 244 00:14:15,600 --> 00:14:18,520 their other risk asset, which they borrowed in yen, which is a 245 00:14:18,520 --> 00:14:21,960 very popular trade. Like in broader, broader trad 246 00:14:21,960 --> 00:14:25,080 FI, they just go in and they just hammer crypto. 247 00:14:25,440 --> 00:14:29,240 So it's something that makes me a bit scared about with crypto 248 00:14:29,600 --> 00:14:32,360 is that whenever anything happens over a weekend period, 249 00:14:32,360 --> 00:14:35,280 it's like, oh, we're going to drop 30%, we're going to drop 250 00:14:35,280 --> 00:14:37,840 20%. Like the last time Iran 251 00:14:37,960 --> 00:14:41,000 threatened Israel and then sent those send those drones, we 252 00:14:41,000 --> 00:14:44,280 dropped 20%. It was like what is going on 253 00:14:44,280 --> 00:14:47,480 here? So I think people use the 254 00:14:47,480 --> 00:14:52,960 weekend hedge is just is crypto now and you've seen these 255 00:14:52,960 --> 00:14:57,160 horrific, horrific move, but it doesn't feel crypto specific. 256 00:14:57,880 --> 00:15:03,160 It just reveals the hand that crypto is a is the whipping boy 257 00:15:03,280 --> 00:15:05,160 of global macro when it wants to be. 258 00:15:05,160 --> 00:15:08,160 They will just hammer it if they need to hedge. 259 00:15:08,760 --> 00:15:11,880 I also think that this sort of a sell off is the sort of sell off 260 00:15:11,880 --> 00:15:14,960 that isn't V shaped in terms of recovery. 261 00:15:14,960 --> 00:15:19,120 The crypto like if I'm sitting there and and ether's just a 262 00:15:19,120 --> 00:15:21,400 raised all of it's yearly again, I know it has a bit of a balance 263 00:15:21,400 --> 00:15:23,000 just now, like people will leave. 264 00:15:23,000 --> 00:15:27,200 I think this is this is like this is a proper and even the 265 00:15:27,200 --> 00:15:29,120 memes, right? People were were safe in memes 266 00:15:29,120 --> 00:15:31,480 for a while. Like memes are down 50%. 267 00:15:32,520 --> 00:15:35,880 Memes are down 50% in like 2 weeks. 268 00:15:36,560 --> 00:15:40,080 Mog was trading at 2.3. Right now it's at 1:00. 269 00:15:40,480 --> 00:15:43,560 That's enough. Pepe was trading at 1.2 now it's 270 00:15:43,560 --> 00:15:49,520 at nought .6 like with with was at 2.5 now I was at 11.3. 271 00:15:49,520 --> 00:15:55,520 Sorry, like these are these are. Bro last Monday last Monday 272 00:15:55,520 --> 00:15:59,680 Solano was at 192. Yeah, I feel like Solano is the 273 00:15:59,680 --> 00:16:00,880 first thing that people will buy back. 274 00:16:00,880 --> 00:16:04,640 I feel as though this is going to lead to a drop off in wallets 275 00:16:04,640 --> 00:16:06,880 throughout the board. Like why, if I'm sitting there 276 00:16:06,880 --> 00:16:10,080 and I've been told, you know, ether is a great asset, I'm not 277 00:16:10,080 --> 00:16:13,280 not against ether like that. You can just buy and hold majors 278 00:16:13,280 --> 00:16:15,920 and you can have exposure crypto and then you see stuff like 279 00:16:15,920 --> 00:16:18,160 this. You're just like, what is going 280 00:16:18,160 --> 00:16:18,880 on? Why do we even? 281 00:16:18,960 --> 00:16:21,080 Own this I just. Own Tesla. 282 00:16:21,080 --> 00:16:24,040 Why don't I just don't, you know, like I think a lot of 283 00:16:24,160 --> 00:16:28,680 tourist style people will just be like, what's the point? 284 00:16:30,840 --> 00:16:33,160 You're right. I I have a question. 285 00:16:33,960 --> 00:16:37,480 I have a question, but yeah, yeah, you're right. 286 00:16:37,640 --> 00:16:40,120 I have a follow up question up, a follow up question on that. 287 00:16:40,120 --> 00:16:41,760 But Tyler, how you feeling this morning? 288 00:16:42,000 --> 00:16:42,960 What? What's the rate here? 289 00:16:44,960 --> 00:16:48,840 I'm hanging in there. I, I remember, you know, the, 290 00:16:48,960 --> 00:16:52,560 the COVID crash in 2021, watching families network drop 291 00:16:52,560 --> 00:16:56,120 by what, like 5075% in a, in a matter of days and just being 292 00:16:56,120 --> 00:16:58,800 like, well, guess we're going to keep going to work every day. 293 00:16:59,080 --> 00:17:03,040 And I guess that that's kind of I am like like right now, like 294 00:17:03,640 --> 00:17:06,599 it's not going to retire next month like that, that type of 295 00:17:06,599 --> 00:17:08,240 thing. You know, Mando's brought up 296 00:17:08,240 --> 00:17:11,839 some sobering points. And like I had this idea of AV 297 00:17:11,839 --> 00:17:15,079 shape recovery perhaps more on the the stock side just because 298 00:17:15,079 --> 00:17:16,240 of like this. This feels like such like a 299 00:17:16,240 --> 00:17:20,240 technical sell off versus like a true like fundamental like we 300 00:17:20,240 --> 00:17:22,119 talked about this on Friday. Like it doesn't feel like the 301 00:17:22,119 --> 00:17:26,760 economy is like in this terrible state right now and like this 302 00:17:26,760 --> 00:17:28,880 combination of all these different things that happened 303 00:17:28,880 --> 00:17:32,640 at at the at the same time, it is driving everything down. 304 00:17:33,360 --> 00:17:36,640 But on the crypto side, and I have to give Darren, Darren LX 305 00:17:36,640 --> 00:17:38,040 credit. I mean, he kind of called this 306 00:17:38,360 --> 00:17:40,160 like a month or so, maybe two months back. 307 00:17:40,160 --> 00:17:42,280 He's basically said everyone who's been buying has already 308 00:17:42,280 --> 00:17:44,200 bought. So so who is I? 309 00:17:44,960 --> 00:17:48,120 And it feels like a lot of like a lot of the CT, like myself 310 00:17:48,400 --> 00:17:51,240 included, like we've been kind of all in like this cycle. 311 00:17:51,440 --> 00:17:53,760 We've been. And so now it raises the 312 00:17:53,760 --> 00:17:56,080 question of like who is going to buy everything back up? 313 00:17:57,480 --> 00:18:01,800 So I, I want to say it's going to be V shaped, but I, I don't 314 00:18:02,160 --> 00:18:04,760 like, I don't have the, the, the backing for how that's going to 315 00:18:04,760 --> 00:18:07,160 work. I think there's some macro 316 00:18:07,160 --> 00:18:08,800 bullish things to come from majors. 317 00:18:08,800 --> 00:18:12,440 You know, the, the I'll give some hope in them out there that 318 00:18:12,440 --> 00:18:14,880 this morning, as I like to do. So we saw like the Morgan 319 00:18:14,880 --> 00:18:17,000 Stanley thing on Friday that Morgan Stanley finally got the 320 00:18:17,000 --> 00:18:18,960 green light to start pitching the Bitcoin ETS. 321 00:18:20,600 --> 00:18:25,600 I think for folks who, who aren't in CT, who don't show up 322 00:18:25,680 --> 00:18:29,040 to this space every day and see the panic on the timeline and 323 00:18:29,040 --> 00:18:31,160 who've been wanting to get exposure to Bitcoin, they're, 324 00:18:31,440 --> 00:18:32,880 they're probably excited for this dip. 325 00:18:32,920 --> 00:18:35,600 I I think right like they they have a cheaper entry than they 326 00:18:35,600 --> 00:18:39,000 did. Yeah, what's up? 327 00:18:39,840 --> 00:18:42,440 My point in this is just that I remember the last time we've had 328 00:18:42,440 --> 00:18:48,560 these sort of huge moves like off the FTXFTX when FTX hit ETH 329 00:18:48,560 --> 00:18:52,280 went from 1800 to 1000. Is that right? 330 00:18:54,600 --> 00:18:56,560 Something like that. What is it went down? 331 00:18:56,600 --> 00:19:00,360 About 40%, I think that's not dissimilar to this move. 332 00:19:00,600 --> 00:19:04,840 Like this is Ethan just went down 40%. 333 00:19:06,720 --> 00:19:09,080 And what you tend to see is like big, awesomely thick 334 00:19:09,080 --> 00:19:10,520 liquidations. Takes a little bit of time. 335 00:19:10,840 --> 00:19:13,440 Takes a little bit of time. You know, it's like, it's like 336 00:19:13,440 --> 00:19:15,880 jaws, Are you ready to get back in the water? 337 00:19:15,880 --> 00:19:20,800 I think majors are the ones that probably recover the best, but I 338 00:19:20,800 --> 00:19:25,400 think if I'm honest, the idea of us going back to like 70K or 60 339 00:19:25,400 --> 00:19:30,040 Ki think we have to put in my eyes is probably now a post 340 00:19:30,040 --> 00:19:32,320 election. And that's fine. 341 00:19:32,320 --> 00:19:33,920 I'm just saying I think this isn't. 342 00:19:34,360 --> 00:19:36,360 That's a. That is a proper Wick. 343 00:19:36,640 --> 00:19:39,520 Like it was 20% dip on Bitcoin on the ETF. 344 00:19:43,320 --> 00:19:46,720 Yeah, well, Bitcoin was at 70K on Monday, right? 345 00:19:47,640 --> 00:19:50,840 It went down 30. It went down 30% from Monday, 346 00:19:50,840 --> 00:19:55,240 Monday to Monday. Salon was at 193 that went down 347 00:19:55,760 --> 00:20:05,120 45% roughly and ETH was at 3400 and now it's it hit 2200. 348 00:20:05,120 --> 00:20:07,400 So again around the same. So 45%. 349 00:20:07,400 --> 00:20:12,600 So huge moves. And I think the other thing is 350 00:20:12,600 --> 00:20:16,600 that it it the final, the thing that everyone was kind of in as 351 00:20:16,600 --> 00:20:21,240 their beta play, which was memes has just been eviscerated, 352 00:20:21,440 --> 00:20:23,560 right? Like not like they could bounce 353 00:20:23,560 --> 00:20:27,360 here. But this morning, what's the 354 00:20:27,360 --> 00:20:32,960 first thing you want to buy? For me it was Solana and and and 355 00:20:32,960 --> 00:20:34,400 bit. Maybe just even bitcoins, 356 00:20:34,920 --> 00:20:36,480 Bitcoin. Probably Bitcoin, right? 357 00:20:36,960 --> 00:20:39,240 I, I think it's going to take a little bit of time for people 358 00:20:39,240 --> 00:20:43,040 to, to, to get back into like, I don't want to see a shield 359 00:20:43,040 --> 00:20:44,240 thread on the timeline right now. 360 00:20:44,280 --> 00:20:44,640 You know what? I. 361 00:20:45,480 --> 00:20:47,280 Mean people shilling like low cap meme coins. 362 00:20:47,960 --> 00:20:49,960 I saw. I saw a low cap meme coin shield 363 00:20:49,960 --> 00:20:52,680 this morning. I was like, come on, give it a 364 00:20:52,680 --> 00:20:55,680 day. Yeah, this is a question for you 365 00:20:56,280 --> 00:20:59,280 and then I have a follow up for you man, though, boys, where, 366 00:20:59,280 --> 00:21:01,160 where, where? Where are we? 367 00:21:02,400 --> 00:21:06,360 Where are we? Where are we on here? 368 00:21:06,560 --> 00:21:08,160 Depression. Disbelief. 369 00:21:10,120 --> 00:21:12,680 So I, I, I pulled this up yesterday actually to, to try to 370 00:21:12,680 --> 00:21:17,560 answer this question. I mean, still, if you're in the 371 00:21:17,560 --> 00:21:20,560 Kobe mindset, like the cycle hasn't started, Disbelief. 372 00:21:20,760 --> 00:21:22,440 I was going to be my follow up. Question. 373 00:21:22,440 --> 00:21:24,040 Actually, the big dip in disbelief. 374 00:21:24,760 --> 00:21:27,760 Is this this one? Is this it this this one here? 375 00:21:27,880 --> 00:21:29,160 Amanda, what do you think? What do you think? 376 00:21:29,160 --> 00:21:31,120 Where where we're at and what do you think of the Kobe's point 377 00:21:31,120 --> 00:21:33,040 that's saying that this is very similar to 2019? 378 00:21:33,040 --> 00:21:37,240 I think Quince Bernsky had a early tweet last year on the 379 00:21:37,240 --> 00:21:41,280 last year saying that 2024 is going to look like 20-19 with a 380 00:21:41,280 --> 00:21:44,960 sharp move up on Bitcoin going up 3-4 X and the cycle will 381 00:21:44,960 --> 00:21:46,360 start after that. What do you think? 382 00:21:47,480 --> 00:21:50,080 Look, if this is if this is a crypto cycle, it's been one of 383 00:21:50,080 --> 00:21:53,560 the worst of all, but it's been the worst one by far. 384 00:21:53,560 --> 00:21:57,480 If this is this is your cycle, like look at year to date on 385 00:21:57,480 --> 00:22:01,520 coins, but every single coin is either at cycle lows or at year 386 00:22:01,520 --> 00:22:05,480 as at all time lows, right? There's there's a very few 387 00:22:05,480 --> 00:22:10,080 number of coins which are not are not don't fit that bill 388 00:22:11,200 --> 00:22:19,240 apart from Tom Solana ETH. Well, Ethan cycle lows Bitcoin 389 00:22:19,520 --> 00:22:21,560 and and a few of the memes, right? 390 00:22:23,080 --> 00:22:26,120 It's it's been horrific in the top 100. 391 00:22:26,120 --> 00:22:28,120 That is not what a normal cycle looks like. 392 00:22:28,120 --> 00:22:33,560 So I don't know if this means you can pick a very rosy picture 393 00:22:33,560 --> 00:22:38,520 for 2025, right. Trump gets in, we Bitcoin I 394 00:22:38,520 --> 00:22:40,240 think then can go really quite high. 395 00:22:40,240 --> 00:22:43,440 And I think Solana and Ethan go can go really high as well, 396 00:22:44,280 --> 00:22:47,560 particularly Solana if he can get an ETF trade on the back of 397 00:22:47,560 --> 00:22:50,320 it as well. So I just think he's delayed it 398 00:22:50,320 --> 00:22:52,560 slightly. So yeah, your hopeium is that 399 00:22:52,560 --> 00:22:55,840 you, you, you hope for a 2025 trade here. 400 00:22:56,040 --> 00:23:00,320 I think if I'm sitting there right now, I'm down a lot. 401 00:23:00,520 --> 00:23:03,280 I think have a game plan. Think about right now who is 402 00:23:03,280 --> 00:23:05,720 coming in to buy your bags? Like do you own coins that 403 00:23:05,720 --> 00:23:08,080 people are desperate to buy or do you own coins? 404 00:23:08,080 --> 00:23:12,280 If they were not 30%, the holders would all sell because I 405 00:23:12,280 --> 00:23:14,320 think there's a lot of coins like that as well right now. 406 00:23:15,160 --> 00:23:21,280 And extend your time horizon. Like I'm not saying, I'm not 407 00:23:21,280 --> 00:23:25,200 saying don't be have parabolic ideas where where things can go, 408 00:23:25,200 --> 00:23:27,000 but I think we have a slightly longer time horizon. 409 00:23:27,000 --> 00:23:30,840 This, this will be a few weeks of fallout, in my opinion, of, 410 00:23:30,840 --> 00:23:37,320 of a move like that at least. And my, my view is also 411 00:23:37,320 --> 00:23:40,880 simplify. So yeah, just just try and try 412 00:23:40,880 --> 00:23:43,360 and be in, in things that you really, really like. 413 00:23:43,760 --> 00:23:48,640 And I think the worst thing to do here would be to to to get 414 00:23:48,640 --> 00:23:53,920 caught up trying to make it back and trying to like buy gambles, 415 00:23:54,080 --> 00:23:55,800 because I think that's what some people will do. 416 00:23:55,800 --> 00:23:59,640 And the people, if you're buying somebody else's gamble, that 417 00:23:59,640 --> 00:24:02,560 person will sell it on a 30 to 40% rise. 418 00:24:02,600 --> 00:24:06,320 Like if a coin is up right now with up in a few days, people 419 00:24:06,600 --> 00:24:11,040 pretty large orders like fuck this, particularly in stuff that 420 00:24:11,040 --> 00:24:15,920 might not be like multi cycle. So I, I be really aware of that 421 00:24:15,920 --> 00:24:17,640 as well. It might even feel good today. 422 00:24:17,640 --> 00:24:21,280 It's like, oh, I'm going to. FOMO and I'm going to make it. 423 00:24:21,840 --> 00:24:24,400 All back and then in like 3 days it will be down 40%. 424 00:24:24,520 --> 00:24:27,440 And I, I reckon Solana and Bitcoin and E probably will just 425 00:24:27,440 --> 00:24:30,200 kind of be unchanged or like they might even be higher. 426 00:24:30,200 --> 00:24:34,600 So I, I think it's not that even those memes will never come back 427 00:24:34,600 --> 00:24:36,920 or those small coins will never come back or those gambles never 428 00:24:36,920 --> 00:24:38,960 come back. It's just that these are the 429 00:24:38,960 --> 00:24:42,680 periods where people go like, fuck, remember, there's that 430 00:24:42,680 --> 00:24:45,200 classic thing of like how much liquidity there in there is 431 00:24:45,200 --> 00:24:48,280 across all of meme coins, right? Versus the actual market gap of 432 00:24:48,280 --> 00:24:51,400 meme coins. Just think about that like 433 00:24:51,760 --> 00:24:54,200 people, people will be like, OK, I need to get out. 434 00:24:56,280 --> 00:25:00,640 Yeah, I mean, hey, I'm in it for the tech, so. 435 00:25:02,400 --> 00:25:04,280 JLP, baby, you got to be in it for JLP. 436 00:25:04,400 --> 00:25:13,880 They're only down 3% today. I told you, I told you to be. 437 00:25:13,920 --> 00:25:15,240 In there everyone got liquidated, so you. 438 00:25:15,680 --> 00:25:20,120 Can plan to tell me you told me? Son of a bitch you could. 439 00:25:25,240 --> 00:25:28,440 I had the short one and then and then I closed it a week earlier. 440 00:25:29,040 --> 00:25:30,480 Jose, you're in short. Hold on. 441 00:25:31,120 --> 00:25:36,480 You're in short. Bro I let the I let the bulls 442 00:25:36,480 --> 00:25:38,800 shake me out of my Easter like 3 days. 443 00:25:38,800 --> 00:25:40,960 He closed it due to the abuse on the show. 444 00:25:40,960 --> 00:25:44,920 No, I'm so sorry. I think a lot of people when 445 00:25:44,920 --> 00:25:48,920 Bitcoin hits, I mean, fucking hell, a week ago, not last 446 00:25:48,920 --> 00:25:51,520 weekend, the weekend before Trump announced a Bitcoin 447 00:25:51,520 --> 00:25:53,400 strategic reserve. Essentially, he would not sell 448 00:25:53,400 --> 00:25:55,040 bitcoins. And the Kamala thing happened. 449 00:25:55,280 --> 00:25:58,920 Everyone, Kamala's going to win. Everybody got spooked out. 450 00:25:59,280 --> 00:26:02,440 Like the whole world is falling. Like there's also like, it's not 451 00:26:02,600 --> 00:26:04,120 like there's also like civil unrest. 452 00:26:04,240 --> 00:26:06,680 A lot of place in the world, Europe, what's going on in the 453 00:26:06,680 --> 00:26:08,360 UK is absolutely fucking terrible. 454 00:26:09,360 --> 00:26:11,400 There's a lot of unrest in your America right now with the 455 00:26:11,400 --> 00:26:14,160 politics. Kamala also for the first time 456 00:26:14,160 --> 00:26:17,200 going in front of Trump in terms of the of the of the polls, 457 00:26:17,560 --> 00:26:20,960 which scares probably the market Trump to stabilize a Kamala 458 00:26:20,960 --> 00:26:22,760 crash. But of course, that's I guess 459 00:26:22,760 --> 00:26:24,240 that's it. That's a great time to try to 460 00:26:24,240 --> 00:26:27,600 have those tag lines, right? Japan, which obviously clearly 461 00:26:27,600 --> 00:26:30,440 spooked a lot of people in the market like Mando, you know, so 462 00:26:30,480 --> 00:26:33,800 eloquently explained this to us, Vicks and all those big numbers 463 00:26:33,800 --> 00:26:37,840 that you guys are talking about. So I, I, I'm not surprised that 464 00:26:37,840 --> 00:26:40,400 even even in Bangladesh, there's a coup happening. 465 00:26:40,640 --> 00:26:44,760 Bangladesh, we we should have had expert Bangladeshi Ovi on 466 00:26:44,760 --> 00:26:46,880 the show today to talk to us. I've been telling him about 467 00:26:46,880 --> 00:26:48,800 this. This fucking unrest. 468 00:26:48,800 --> 00:26:50,960 For weeks he had barely any idea what was going on. 469 00:26:52,120 --> 00:26:53,680 I've been putting on man and ministry, like, you know, 470 00:26:53,680 --> 00:26:54,800 there's some shit going on man there. 471 00:26:54,800 --> 00:26:56,520 She's like, oh, never really know about it. 472 00:26:57,200 --> 00:26:58,680 You're trying to like kick her out or something. 473 00:26:58,680 --> 00:26:59,880 It's like a coup. Happened actually. 474 00:27:00,040 --> 00:27:02,720 She's she's bad, she's bad. The bunk people been killed. 475 00:27:03,560 --> 00:27:06,800 Yeah, I don't know, I'm not a Bangladeshi like political 476 00:27:06,800 --> 00:27:11,120 expert, but I I just, I just saw that it's like every time I open 477 00:27:11,120 --> 00:27:14,600 my, my ex, I mean, you know, ex is pretty good at also showing 478 00:27:14,600 --> 00:27:16,840 you like all sorts of like horrible. 479 00:27:16,840 --> 00:27:20,400 Like X has become like the number one fear mongering app in 480 00:27:20,400 --> 00:27:22,200 my opinion. Like it's pretty fucking bad. 481 00:27:22,200 --> 00:27:25,280 I'm sorry. Like I'm not a woo woo like I 482 00:27:25,280 --> 00:27:28,120 open X right now. It's I'll just say it, 483 00:27:28,640 --> 00:27:35,840 anti-Semitic as fuck, anti like Islamic as fuck, anti anything 484 00:27:35,840 --> 00:27:40,720 remotely happy AF. Like it's just become just like 485 00:27:40,720 --> 00:27:44,960 a cesspool of like racism and race bait and rage bait. 486 00:27:45,040 --> 00:27:46,320 It is. It's. 487 00:27:47,040 --> 00:27:49,160 The clicks, man, We spoke about it on Friday, but you there were 488 00:27:49,200 --> 00:27:51,880 you there on Friday's Show it. Was the show that was me and you 489 00:27:51,920 --> 00:27:52,880 man though I think when we were talking. 490 00:27:52,880 --> 00:27:55,640 To meet you. Yeah, yeah, exactly on Friday, 491 00:27:55,640 --> 00:27:59,080 like this exact topic. I mean, I I've watched people, 492 00:27:59,200 --> 00:28:02,080 I've watched maybe 10 people get shot this weekend on video. 493 00:28:02,240 --> 00:28:05,040 I was not even trying to watch. I it's not like I searched like 494 00:28:05,680 --> 00:28:08,160 person getting shot in the fucking face. 495 00:28:08,520 --> 00:28:12,680 I was just, I saw some dudes stab people in Brazil on my 496 00:28:12,680 --> 00:28:13,920 feet. What the fuck do I care? 497 00:28:13,920 --> 00:28:16,320 I love Brazil and football. What the fuck do I care about 498 00:28:16,320 --> 00:28:18,760 what's going on in Brazil? You know what I mean? 499 00:28:18,920 --> 00:28:22,360 It's still being shown to me. I'm just friends who they're 500 00:28:22,360 --> 00:28:24,480 just not using X anymore. It's. 501 00:28:25,040 --> 00:28:28,480 It's, it's insane, it's insane, it's insane. 502 00:28:28,480 --> 00:28:30,800 It's, it's crazy. Like I, I try to avoid it. 503 00:28:30,840 --> 00:28:33,280 It's like they're like, oh, create your followers. 504 00:28:33,560 --> 00:28:34,920 Fuck you. I create my followers. 505 00:28:34,920 --> 00:28:38,040 It's just, you know, I'm not saying anything as Brazilians. 506 00:28:38,040 --> 00:28:40,600 I like you, Mr. Olivus Blaster in the chat. 507 00:28:40,600 --> 00:28:44,520 I'm just saying I don't care to see a Brazilian dad stab 508 00:28:44,520 --> 00:28:47,440 somebody else on my timeline like. 509 00:28:48,120 --> 00:28:52,840 I saw that exact same video and what I only follow NFT and 510 00:28:52,840 --> 00:28:58,040 crypto. Like I tweet about crypto all 511 00:28:58,040 --> 00:29:01,800 day long and I'm being fed like, like, you know, being fed like 512 00:29:01,800 --> 00:29:03,720 something from another place in the world. 513 00:29:04,160 --> 00:29:06,720 Like, you know, yeah, OK, sure. You can show me some content 514 00:29:06,720 --> 00:29:09,720 about the Iran Israel stuff because I I've talked about it. 515 00:29:09,720 --> 00:29:12,320 I follow it pretty closely because I care, you know, but 516 00:29:12,320 --> 00:29:16,720 like, I don't know, it's a, it's a if you're like, I feel like we 517 00:29:16,720 --> 00:29:19,880 are like becoming like a like we are like creating, like 518 00:29:19,920 --> 00:29:22,720 radicalizing people on both sides right now on social media 519 00:29:22,720 --> 00:29:25,040 in the worst way possible left and right. 520 00:29:25,160 --> 00:29:27,720 Like I actually saw that. I actually went deep in the 521 00:29:27,720 --> 00:29:31,760 whole like UK rabbit hole last night, like 2-3 hours and on 522 00:29:31,760 --> 00:29:34,560 both sides, like the radicalization happening from, 523 00:29:34,560 --> 00:29:37,120 from, from the social. I invite everybody to just like 524 00:29:37,800 --> 00:29:40,000 try to spend as little time as possible on, on social media 525 00:29:40,000 --> 00:29:43,280 right now, 'cause it's a, it's a, it's, it's actually really 526 00:29:43,280 --> 00:29:45,920 crazy right now. It's a, it's, there's enough 527 00:29:45,920 --> 00:29:49,280 content to make you hate Muslim people, hate Jewish people and 528 00:29:49,280 --> 00:29:51,560 hate white people. Like, you know what I mean? 529 00:29:51,800 --> 00:29:54,080 Like there's enough content to make you hate all sorts of 530 00:29:54,080 --> 00:29:58,040 people on timeline right now. But anyway, Tyler, let's talk 531 00:29:58,040 --> 00:30:00,680 about your bottom ones. Thank you for that. 532 00:30:12,840 --> 00:30:15,520 Yeah, certainly a more sober rundown here this morning 533 00:30:16,200 --> 00:30:19,640 headline we saw crypto majors crash 15 to 20% biggest single 534 00:30:19,640 --> 00:30:23,640 day dip since 2021 jump Crypto. Seemingly unwinding huge 535 00:30:23,640 --> 00:30:26,560 portions of their book and lighter news brought up earlier, 536 00:30:26,560 --> 00:30:28,800 Morgan Stanley has given the green light to its advisors to 537 00:30:28,800 --> 00:30:31,520 offer the Bitcoin ETS to their clients, starting with ibet and 538 00:30:31,520 --> 00:30:34,720 FBTC Jupiter. They announced their latest 539 00:30:34,720 --> 00:30:36,800 proposal to slash the token supply by 30%. 540 00:30:36,800 --> 00:30:40,240 That has passed, so look for that token reduction here to 541 00:30:40,240 --> 00:30:42,960 come. Blast stablecoin USDB. 542 00:30:42,960 --> 00:30:45,680 It briefly depict during all the chaos yesterday it hit like 543 00:30:45,760 --> 00:30:49,920 $0.94, but it is back to a dollar here this morning. 544 00:30:50,320 --> 00:30:52,240 Memes and NFTS, folks, it was a bloodbath. 545 00:30:52,240 --> 00:30:54,720 I won't go into a lot of detail here. 546 00:30:54,720 --> 00:30:58,840 When I woke up this morning, the top 75 meme coins on Solana were 547 00:30:58,840 --> 00:31:02,600 all red by market cap. Top 75 are red over on ETH, just 548 00:31:02,600 --> 00:31:06,600 one one of the top 96 meme coins were green. 549 00:31:07,000 --> 00:31:08,360 I have to give a quick shout out to Nero. 550 00:31:08,360 --> 00:31:11,400 Nero coins up 50% on the day to 160 million. 551 00:31:11,400 --> 00:31:13,600 So it is clearly the top performer right now. 552 00:31:14,000 --> 00:31:17,200 Another meme coin is we saw Pack Moon tease a big move off of 553 00:31:17,200 --> 00:31:19,320 Blast. So the timing now isn't great. 554 00:31:19,800 --> 00:31:23,280 They have narrowed their choices down to either ETH or Solana. 555 00:31:23,560 --> 00:31:26,800 That token was at 4 million here this morning over an NFT land. 556 00:31:27,200 --> 00:31:30,160 Not great. Most leaders down 7 to 15% on 557 00:31:30,240 --> 00:31:32,200 ETH. Bitcoin NFT leaders down 10 to 558 00:31:32,200 --> 00:31:36,920 20%, down 10 to 15%. A lighter headline here before 559 00:31:36,920 --> 00:31:40,120 we wrap things up, travel swap. They shared their yearly revenue 560 00:31:40,120 --> 00:31:44,880 numbers on Friday. They jumped from $2400 in 2023 561 00:31:44,880 --> 00:31:49,760 to 234,000 in 2024. So I'd love to see a success 562 00:31:49,760 --> 00:31:52,880 story on a on a more red day. Yeah, yeah. 563 00:31:52,880 --> 00:31:54,760 Big fan, big we, we work with them a lot. 564 00:31:55,040 --> 00:31:59,040 They do like all our we, we. I had a call with the founder 565 00:31:59,760 --> 00:32:02,120 Eric a couple weeks ago to two weeks ago. 566 00:32:02,800 --> 00:32:05,720 And so they help us a lot with all the bookings, like all the 567 00:32:05,720 --> 00:32:08,720 hotel stuff, even flights and stuff like that. 568 00:32:08,720 --> 00:32:10,400 It's it's really good. I think they're they're 569 00:32:10,400 --> 00:32:12,120 launching flights soon. That's not a secret. 570 00:32:12,120 --> 00:32:14,880 Like it's he's been talking about it, but but it's really 571 00:32:14,880 --> 00:32:16,160 cool. Like they help actually a lot of 572 00:32:16,160 --> 00:32:19,320 businesses as well, like B to B do a lot of this stuff. 573 00:32:19,360 --> 00:32:21,400 Sometimes now you have to move team members and stuff like 574 00:32:21,400 --> 00:32:22,880 that. So complicated. 575 00:32:22,880 --> 00:32:24,320 So it's actually a great company. 576 00:32:24,320 --> 00:32:28,440 I actually was talking, I was in Germany and a bunch of family 577 00:32:28,440 --> 00:32:30,520 members like work in the travel industry for some reason. 578 00:32:31,680 --> 00:32:33,400 And they were like, oh, we haven't seen any applications of 579 00:32:33,400 --> 00:32:35,120 crypto in travel. And actually was talking to them 580 00:32:35,120 --> 00:32:37,600 about travel swap because I thought I thought it was really 581 00:32:37,600 --> 00:32:38,400 cool. And we were like, yeah, but 582 00:32:38,400 --> 00:32:39,640 there's no way to really make money. 583 00:32:39,640 --> 00:32:41,120 I I should show them the revenue stuff. 584 00:32:41,640 --> 00:32:45,280 But because there definitely is ways to make money. 585 00:32:45,280 --> 00:32:46,840 It's funny, I think I was talking to Eric because like 586 00:32:47,080 --> 00:32:50,040 when meme coins pop like that the the amount of people that 587 00:32:50,040 --> 00:32:52,600 use meme coins to to book travel. 588 00:32:52,600 --> 00:32:54,960 OK, being a trip, yeah. He was saying something like 589 00:32:55,160 --> 00:32:59,960 Pepe is the number one coin you use for for, for for travels 590 00:32:59,960 --> 00:33:02,440 because that's the one where a ton of people make a ton of cash 591 00:33:02,440 --> 00:33:04,880 early on, You know what I mean? Well, I mean, if you think about 592 00:33:04,880 --> 00:33:07,560 like the concept of going bank less, which like on days like 593 00:33:07,560 --> 00:33:09,600 this, I think a lot of people like this, the last thing on 594 00:33:09,600 --> 00:33:11,720 their mind. But like in a in a future where 595 00:33:11,720 --> 00:33:15,080 that is, you know, a real possibility, you need apps like 596 00:33:15,080 --> 00:33:17,200 this, right? You you need apps where you can 597 00:33:17,200 --> 00:33:20,440 spend crypto to do things in the real world that you want to be 598 00:33:20,440 --> 00:33:23,200 able to do. Yeah, I feel like there hasn't 599 00:33:23,240 --> 00:33:24,840 been a ton. So I I think we got we have to 600 00:33:24,840 --> 00:33:27,960 root the root, root these apps on root root through success. 601 00:33:27,960 --> 00:33:31,840 100% by the 100% I told him I said, Yo, he's like I want I 602 00:33:31,840 --> 00:33:35,000 need Ryan Reynolds to be the travels face travels like yo, 603 00:33:35,000 --> 00:33:40,360 let me be here Ryan Reynolds, you know, but but I think I 604 00:33:40,360 --> 00:33:43,120 agree with you. When I, when I had money, I 605 00:33:43,120 --> 00:33:46,600 booked myself that first week in Solana with some Zach profits 606 00:33:47,480 --> 00:33:49,240 and, and it was really cool and seamless and 607 00:33:49,240 --> 00:33:52,600 betterthanhotels.com because connect your wallet is way 608 00:33:52,600 --> 00:33:54,920 better than opted via e-mail. And that's just a fact. 609 00:33:55,560 --> 00:33:58,520 Yeah, like 5 miles. So, so that's, that's, that's I 610 00:33:58,520 --> 00:34:01,360 like that shout out. I really, really like that shout 611 00:34:01,360 --> 00:34:02,560 out. Wait, we're in your headlines. 612 00:34:02,560 --> 00:34:04,280 Look at that. We're up 42%. 613 00:34:04,880 --> 00:34:07,960 Roggenesis baby Roggenesis, one of the top movers. 614 00:34:08,440 --> 00:34:10,159 Are we? That's crazy. 615 00:34:10,239 --> 00:34:13,560 I just, I, I, I stopped looking at everything across the board. 616 00:34:13,560 --> 00:34:15,920 I I complete disconnected myself from anything. 617 00:34:17,280 --> 00:34:20,800 In my newsletter, every every day I, I, I do the top five meme 618 00:34:20,800 --> 00:34:23,880 coins usually just across Ethan's salon and I had to, I 619 00:34:23,880 --> 00:34:31,040 had to put in a this morning. My 10 million is my cut off. 620 00:34:31,040 --> 00:34:33,719 I don't generally report on tokens under 10 million and and 621 00:34:33,719 --> 00:34:36,960 there wasn't a single token in green above 10 million. 622 00:34:37,400 --> 00:34:39,040 No, there's nothing right now, bro. 623 00:34:39,040 --> 00:34:40,560 There's absolutely nothing. You know what now? 624 00:34:40,560 --> 00:34:43,520 There's Nero. Nero is handling up man like 625 00:34:43,920 --> 00:34:48,520 this is wild on a day like this. It really is. 626 00:34:48,520 --> 00:34:51,040 That's you know, how about the wrong cobalt coin? 627 00:34:51,719 --> 00:34:55,159 Shit, that's that was the one, the Solano, the Ethereum 1 628 00:34:55,159 --> 00:34:58,200 right? Yeah, the Ethereum I'm trying to 629 00:34:58,200 --> 00:35:01,640 search here so Pepe. It was on the back of Vitalik 630 00:35:01,640 --> 00:35:03,320 dumping his allocations. You see that. 631 00:35:04,200 --> 00:35:09,560 So Vitalik was like up holder and then I think dumped what, 44 632 00:35:09,560 --> 00:35:12,720 eighth of it also does. Does Vitalik know how to read a 633 00:35:12,720 --> 00:35:15,880 room? Like, have you seen his tweet 634 00:35:15,880 --> 00:35:17,240 this morning? Yeah. 635 00:35:17,880 --> 00:35:21,120 I, I love Vitalik. I, I don't get me wrong, mine's 636 00:35:21,120 --> 00:35:24,280 a genius. But like, do you think the first 637 00:35:24,280 --> 00:35:26,480 thing someone wants to read when they wake up in the morning like 638 00:35:26,480 --> 00:35:29,320 this is, I think people will be surprised by how quickly cross 639 00:35:29,320 --> 00:35:31,600 out to into our operability problems, stopping problems and 640 00:35:31,600 --> 00:35:34,440 we get a smooth, I copy pasted it this morning. 641 00:35:34,440 --> 00:35:35,520 I don't think many people got it. 642 00:35:37,160 --> 00:35:41,280 Yeah, it's being memed a lot. Maybe that that was his, you 643 00:35:41,280 --> 00:35:44,640 know, in his genius mastermind. He knew the timing was bad. 644 00:35:44,880 --> 00:35:47,200 He knew it would get memed and then it would get his message 645 00:35:47,360 --> 00:35:50,120 out amplified. You're right even further. 646 00:35:50,560 --> 00:35:52,520 Terrible timing. But that message is important, 647 00:35:52,520 --> 00:35:53,840 right? Isn't that that's like the main 648 00:35:53,840 --> 00:35:56,240 reason we've been kind of a lot of people have been nagging eat 649 00:35:56,320 --> 00:35:59,760 is like the difficulty of L2's and fragmentation. 650 00:36:00,760 --> 00:36:05,280 I totally agree with you. The other thing is I know you 651 00:36:05,280 --> 00:36:07,560 report on that. I have not seen this prices 652 00:36:07,560 --> 00:36:13,480 since I got into crypto. That's when I go into space. 653 00:36:13,640 --> 00:36:17,920 That's exactly what the floor was Feb 29th, 2021. 654 00:36:18,920 --> 00:36:21,720 I think the lowest pump was 15 to 19 eighth. 655 00:36:21,720 --> 00:36:24,960 And then when I really, really got into the punks that my first 656 00:36:24,960 --> 00:36:27,680 pump was exactly at this price. It's 198050 K. 657 00:36:27,960 --> 00:36:32,000 So ETH was slightly higher, but was that was exactly where I 658 00:36:32,000 --> 00:36:35,280 bought my first pump. How long do you think it's gone? 659 00:36:38,520 --> 00:36:42,280 I think 50K was like the the magic number for a lot of folks. 660 00:36:42,680 --> 00:36:46,280 Clearly we're not seeing like a, a massive buy spree here. 661 00:36:47,360 --> 00:36:50,040 So I still feel like we're we're, we're probably going to 662 00:36:50,040 --> 00:36:53,800 see teens and eat prices and then like a lot depends on how 663 00:36:53,800 --> 00:36:59,160 low does eat go here. Like I think we can see 40 like 664 00:36:59,160 --> 00:37:01,520 if I'm being honest, like where I'm going to pull the trigger, 665 00:37:02,080 --> 00:37:04,200 like really move things around to buy a punk, it would, it 666 00:37:04,200 --> 00:37:06,480 would be below 40. Like I'm not going to like, you 667 00:37:06,520 --> 00:37:10,080 know, go out of my way right now to to try to catch the punk 668 00:37:10,080 --> 00:37:11,440 falling knife at 40K. I'm. 669 00:37:13,600 --> 00:37:18,520 The same like this will get punk like this 24 eighth on the floor 670 00:37:18,520 --> 00:37:20,120 that just really no buyers. Yeah. 671 00:37:20,120 --> 00:37:23,800 I mean, yeah. I mean, and Andy was saying, 672 00:37:23,800 --> 00:37:26,480 right, you got to think about like who who's going to, who's 673 00:37:26,480 --> 00:37:28,480 buying your bags, who's potentially sellers Now, I don't 674 00:37:28,480 --> 00:37:33,000 think like if punks run up 30%, everyone's going to be racing to 675 00:37:33,000 --> 00:37:34,840 sell their punks, right? Because we know that it's the 676 00:37:35,000 --> 00:37:40,040 older base, but no one's racing to buy in right now. 677 00:37:42,040 --> 00:37:44,040 You know what, like show that's a bored Ape. 678 00:37:44,120 --> 00:37:48,200 Bored Ape's held up stronger than just about any other major 679 00:37:48,200 --> 00:37:49,440 NFT. They're out. 680 00:37:49,440 --> 00:37:53,560 They're green on the week. I think Gordon was tweeting all 681 00:37:53,560 --> 00:37:57,400 night, right? I may have missed those if he 682 00:37:57,400 --> 00:37:59,880 was, but like, you know, there's been this like infamous, like 683 00:37:59,920 --> 00:38:04,320 I'm the lady's going to flip board apes in 2024. 684 00:38:04,800 --> 00:38:08,720 And you know, I mean, apes have been the, the dunking, the, the, 685 00:38:09,000 --> 00:38:12,680 the dunking board basically, but they're at 9.3 and they're 686 00:38:12,680 --> 00:38:15,960 green. Still tennis and eight, it's not 687 00:38:15,960 --> 00:38:18,040 bad. You know, about 1/2 a punk. 688 00:38:18,040 --> 00:38:19,640 Little, little, little lower than that. 689 00:38:20,760 --> 00:38:24,200 ETH, ETH in ETH the nomination, the prices are holding pretty 690 00:38:24,200 --> 00:38:27,760 well on the NFT side, but you know obviously that the dollar 691 00:38:27,760 --> 00:38:32,600 value is not is not the same. What else do we got? 692 00:38:32,600 --> 00:38:34,560 Let me see, let me go through this. 693 00:38:34,560 --> 00:38:37,240 I mean the pack one stuff I thought was interesting. 694 00:38:37,240 --> 00:38:39,280 What, what, what? What do you think they're moving 695 00:38:39,280 --> 00:38:41,280 to? I mean, it's a sign of times, 696 00:38:41,280 --> 00:38:43,680 right? I I hate to say this, I'm not 697 00:38:43,680 --> 00:38:45,680 trying to flood blast and there's a lot of good people 698 00:38:45,680 --> 00:38:48,360 building over there, but there's there's there's nothing 699 00:38:48,360 --> 00:38:50,520 happening right? There's fancy top. 700 00:38:50,840 --> 00:38:52,160 There's nothing happening, brother. 701 00:38:52,320 --> 00:38:54,680 There's only fantasy top right. We talked about this Friday. 702 00:38:55,160 --> 00:38:56,720 Like I asked you guys, what is going on? 703 00:38:56,720 --> 00:38:58,160 Like is there any? I didn't mean to FUD. 704 00:38:58,160 --> 00:39:00,920 I'm like, is there anything going on on the chain? 705 00:39:01,800 --> 00:39:04,640 I don't even see the Blast influencers really talking about 706 00:39:04,640 --> 00:39:07,960 anything right now. There's anything to talk about? 707 00:39:09,120 --> 00:39:10,560 But what are you going to like? What? 708 00:39:10,560 --> 00:39:13,000 Even though you said USD, BD packed for a moment. 709 00:39:14,400 --> 00:39:17,760 Yes, it did. I think last night it got down 710 00:39:17,760 --> 00:39:19,880 to like $0.94. I, I don't know that I don't 711 00:39:19,880 --> 00:39:21,520 think anything necessarily bad happened. 712 00:39:21,520 --> 00:39:23,640 Like I, I don't, I didn't see like any big like liquidation 713 00:39:23,640 --> 00:39:26,160 cascades or anything, but it D pays. 714 00:39:26,160 --> 00:39:28,000 I mean, the Pacman chart does not look great. 715 00:39:28,720 --> 00:39:31,600 We've known they've got a team, you know, who's been working and 716 00:39:31,600 --> 00:39:35,200 driving this thing forward. It's an interesting choice. 717 00:39:35,200 --> 00:39:37,560 I actually don't have a strong read if they go either Solana, 718 00:39:38,440 --> 00:39:41,280 you know, we've seen there's there's historical success like 719 00:39:41,280 --> 00:39:45,600 the pups token bridge to Solana and that is arguably what drove 720 00:39:45,600 --> 00:39:49,440 their massive leg up before it it fully round trips. 721 00:39:50,120 --> 00:39:54,480 But the ETH meme coin landscape is much more open, right? 722 00:39:54,480 --> 00:39:56,560 I think that's one of the benefits of ETH right now from a 723 00:39:56,560 --> 00:40:01,640 meme coins make it right. There's less competition versus 724 00:40:01,640 --> 00:40:05,280 Seoul where we've got pump launching 10,000 coins a day and 725 00:40:05,400 --> 00:40:08,560 people hold on to a coin for three to five days the longest 726 00:40:08,560 --> 00:40:11,080 seems like. Yeah. 727 00:40:11,560 --> 00:40:14,680 So I I'd get ETH right now if I had to bet, Where'd they go? 728 00:40:14,960 --> 00:40:16,800 But I think it's pretty much a coin flip. 729 00:40:17,480 --> 00:40:19,640 I'll bet so I'll take the other side of that for the only reason 730 00:40:19,640 --> 00:40:21,560 that blast is technically on Ethereum. 731 00:40:23,520 --> 00:40:27,520 Technically. Technically, you know, but 732 00:40:27,520 --> 00:40:33,840 obviously much easier to, to access than than than actual 733 00:40:33,840 --> 00:40:36,640 blast because you have to do the whole Brit shit rich back and 734 00:40:36,640 --> 00:40:39,000 all that stuff. But I, I wouldn't be surprised 735 00:40:39,000 --> 00:40:41,120 if they moved to Solana because it seems like for what they're 736 00:40:41,120 --> 00:40:46,240 trying to achieve, like the whole social validator stuff, 737 00:40:46,800 --> 00:40:48,360 you know, all this kind of stuff. 738 00:40:48,360 --> 00:40:51,080 I feel like I know it was really axed. 739 00:40:51,080 --> 00:40:52,800 I played with that, but I don't know, we'll see. 740 00:40:53,400 --> 00:40:55,640 Anyways, nice bouncing Solana now, I don't know if anyone's 741 00:40:55,640 --> 00:40:59,840 watching the markets, but back around $130.00 mark, I don't 742 00:40:59,840 --> 00:41:01,000 know. It would make sense for this 743 00:41:01,000 --> 00:41:03,960 cycle, but I don't know. I don't know the whole tweet 744 00:41:03,960 --> 00:41:05,800 also like them asking Frank which one to pick. 745 00:41:05,800 --> 00:41:09,200 I don't know. I just I wasn't picking Solana. 746 00:41:09,200 --> 00:41:14,040 I saw them, I saw them, I saw them do that while Pups is 20 747 00:41:14,040 --> 00:41:18,000 mil, that is absolutely. Max Max Payne that folks don't 748 00:41:18,000 --> 00:41:21,680 remember that hit 900 million. Shut up dude, are you serious? 749 00:41:22,240 --> 00:41:25,400 Hit 900 million and then I was just doing the classic like 750 00:41:25,400 --> 00:41:27,800 what's my bag going to be worth if it just double S for me? 751 00:41:32,360 --> 00:41:34,000 Yeah, we can say now because we're all commiserating. 752 00:41:34,040 --> 00:41:36,480 I had about half a million in pups at the top and it is worth 753 00:41:36,720 --> 00:41:39,960 much less than. That yeah, like 1/2 something 754 00:41:41,120 --> 00:41:44,840 like that along those lines happens to the best of us, 755 00:41:44,840 --> 00:41:47,800 happens to the best of us. And then but that's why. 756 00:41:47,840 --> 00:41:49,600 But let's see how are we doing on the inflows? 757 00:41:49,600 --> 00:41:54,560 I mean, I listen the I just I just retweeted something from 758 00:41:54,560 --> 00:41:57,080 arkamentalogens just for some from for people to say like we, 759 00:41:57,080 --> 00:41:58,920 you know, we can do the whole like acting down bad this and 760 00:41:58,920 --> 00:42:00,840 that. Obviously it sucks to wake up to 761 00:42:00,840 --> 00:42:03,360 see like your net worth decimated over the last couple 762 00:42:03,360 --> 00:42:05,600 weeks. But arkamental just tweeted you 763 00:42:05,600 --> 00:42:07,800 guys stole all your coins, but BlackRock, MicroStrategy, 764 00:42:07,800 --> 00:42:10,480 grayscale fidelity did it and they haven't touched a coin. 765 00:42:10,720 --> 00:42:13,160 And you also have Hunter Horsley steal Bitwise talking about Hey, 766 00:42:13,160 --> 00:42:16,800 how like the like not a single one of their I like this one 767 00:42:17,320 --> 00:42:19,680 this morning here, but I steal bitwise. 768 00:42:19,880 --> 00:42:24,080 He said, I'm going to show you guys right now. 769 00:42:24,280 --> 00:42:28,960 Where's the zero? He goes 0 phone calls from 770 00:42:28,960 --> 00:42:30,720 clients so far. Know your game. 771 00:42:30,760 --> 00:42:33,360 If you're trader trade if you're buy and hold buy and hold. 772 00:42:33,440 --> 00:42:36,000 Nothing changed about thesis for Bitcoin and crypto today. 773 00:42:36,120 --> 00:42:39,520 In fact, one can imagine the moves ahead now that will even 774 00:42:39,520 --> 00:42:41,400 be better for the asset. So, you know, I mean like, it's 775 00:42:41,400 --> 00:42:44,320 like buyers are buying, you know what I mean? 776 00:42:44,400 --> 00:42:47,920 And I think that we all get like sucked into the trader mentality 777 00:42:47,920 --> 00:42:50,360 even though if we don't trade, because on Twitter, most of the 778 00:42:50,360 --> 00:42:52,400 big CT dudes are like big traders, right? 779 00:42:52,400 --> 00:42:55,440 Like most of the prominent voices and influencer are all 780 00:42:55,440 --> 00:42:59,400 like actual traders, some very successful, some not so 781 00:42:59,400 --> 00:43:01,080 successful, but still have a large audience. 782 00:43:01,480 --> 00:43:04,080 So I think that everybody gets pulled into that mentality of 783 00:43:04,080 --> 00:43:06,400 like, I'm a trader. But like truth is you just buy 784 00:43:06,400 --> 00:43:07,960 and hold. If you're most of people listen 785 00:43:07,960 --> 00:43:09,840 to the show, you guys just buy and hold. 786 00:43:09,840 --> 00:43:12,560 So, you know, I think that's probably. 787 00:43:12,560 --> 00:43:14,840 I was thinking about this right when I had my corporate job, I 788 00:43:14,840 --> 00:43:17,560 think I checked stock and crypto prices like once a week. 789 00:43:17,760 --> 00:43:19,560 Like it didn't impact my life like I was going to. 790 00:43:19,560 --> 00:43:21,400 I had to go to work every day, right? 791 00:43:21,400 --> 00:43:24,880 And if the board was green, if it was red, like my day-to-day 792 00:43:24,880 --> 00:43:27,440 didn't change. I think so many of us on CT just 793 00:43:27,440 --> 00:43:29,600 get sucked into this like trading vortex and like the 794 00:43:29,600 --> 00:43:33,400 Sky's just go outside, right? The sky is involved. 795 00:43:33,640 --> 00:43:38,160 Everyone's going about their lives like normal and hey, it 796 00:43:38,200 --> 00:43:40,080 looks like we might be getting a little bit of a bounce. 797 00:43:40,080 --> 00:43:43,320 And like, we asked who the buyers are, ETFs are buying like 798 00:43:43,320 --> 00:43:44,200 that. That's who's buying. 799 00:43:44,960 --> 00:43:46,880 Right. Oh my God, imagine Larry Fink 800 00:43:46,880 --> 00:43:49,080 woke up this morning was $1900 ETH. 801 00:43:49,440 --> 00:43:52,000 Motherfucker was like yo. It's 2420. 802 00:43:52,120 --> 00:43:54,000 They've been buying since this market open, guys. 803 00:43:55,240 --> 00:43:57,320 Are gobbling up. I cannot wait to see the 804 00:43:57,320 --> 00:44:00,240 statistics on the ETFs tonight. It's going. 805 00:44:00,480 --> 00:44:03,360 To be a big day, I, I, yeah, I think, I think that I think we 806 00:44:03,360 --> 00:44:06,760 may see the biggest inflows in a while for, for 10. 807 00:44:06,760 --> 00:44:09,840 Percent since market. It was 2190 I think. 808 00:44:10,960 --> 00:44:13,720 I think today's going to be the biggest day for inflows across 809 00:44:13,720 --> 00:44:15,680 the board. Bitcoin and Ethereum. 810 00:44:15,800 --> 00:44:18,000 I wouldn't be surprised. I honestly wouldn't be 811 00:44:18,000 --> 00:44:20,360 surprised. Like the biggest inflows for for 812 00:44:20,360 --> 00:44:26,240 ETH was 106 M in one day and for Bitcoin it was like we near the 813 00:44:26,440 --> 00:44:28,920 what is it half a billion dollars in one day or something 814 00:44:28,920 --> 00:44:29,440 like that? I don't know. 815 00:44:29,440 --> 00:44:30,680 I don't have I'm looking at D jams. 816 00:44:30,680 --> 00:44:33,160 I don't think I can Scroll down lower than what I'm at now, but 817 00:44:33,680 --> 00:44:36,400 I'll I'll call it here. Like I think, at least for them, 818 00:44:36,400 --> 00:44:38,720 we'll have the biggest Ethereum infill day forever. 819 00:44:38,880 --> 00:44:42,320 Like this is like this is great. I mean, you have jump out, you 820 00:44:42,320 --> 00:44:44,760 have you know what was, who was signed there. 821 00:44:45,720 --> 00:44:47,560 As I saw it, maybe they sold more overnight. 822 00:44:47,640 --> 00:44:50,760 I thought they sold like 50,000 so I need to get updated 823 00:44:50,760 --> 00:44:52,120 numbers. Don't take those to the bank. 824 00:44:52,560 --> 00:44:54,000 We'll talk about it tomorrow. Yeah. 825 00:44:54,520 --> 00:44:56,920 We can talk about it tomorrow, but anyway, so let's get over to 826 00:44:56,920 --> 00:45:00,440 our to our to our last segment. Every Monday from here forward, 827 00:45:00,440 --> 00:45:03,360 we'll be giving you guys a little update on the arbitrary 828 00:45:03,360 --> 00:45:05,560 ecosystem. As you all may know, if you've 829 00:45:05,560 --> 00:45:08,800 paid attention to to rock radio this time decrypt our 830 00:45:08,800 --> 00:45:10,600 announcements, You know, we're going to be building an 831 00:45:10,600 --> 00:45:13,600 arbitrary that we are building an arbitrary what you guys are 832 00:45:13,600 --> 00:45:16,000 going to see roll out, you know, soon. 833 00:45:16,880 --> 00:45:18,760 And so they've got a lot of cool stuff going on. 834 00:45:18,760 --> 00:45:20,560 You know, we're talking about chains and stuff going on 835 00:45:20,560 --> 00:45:24,160 between, across the board, you know, between the orbit chain 836 00:45:24,160 --> 00:45:26,960 news, between Sacco, between Zai, between Pirate nation. 837 00:45:26,960 --> 00:45:29,880 I mean, Tyler, what, what, what have you been seeing on there 838 00:45:29,880 --> 00:45:32,880 lately? Yes, Layer threes have been 839 00:45:32,880 --> 00:45:37,440 growing in popularity and Arbitrum has had a lot to do 840 00:45:37,440 --> 00:45:39,640 with that success. And I think sometimes like 841 00:45:39,640 --> 00:45:41,360 they've heard the term, they may not really know like 842 00:45:41,360 --> 00:45:43,560 conceptually what layer threes are. 843 00:45:43,560 --> 00:45:45,680 So just to start with the, the basics. 844 00:45:45,840 --> 00:45:49,160 The goal of layer threes ultimately is to be DAP specific 845 00:45:49,160 --> 00:45:52,320 so that a single DAP can perform optimally in a more controlled 846 00:45:52,680 --> 00:45:57,040 environment because you have if you own the entire chain. 847 00:45:57,040 --> 00:45:59,640 So the intended function of a layer three network is to 848 00:45:59,640 --> 00:46:02,640 improve scalability and efficiency of the Daps 849 00:46:02,640 --> 00:46:04,880 decentralized applications built on top of it. 850 00:46:05,320 --> 00:46:08,800 In in theory, I think the end goal you only want to hold house 851 00:46:08,800 --> 00:46:12,040 1 DAP potentially and enabling it to perform at the highest 852 00:46:12,040 --> 00:46:14,920 speeds without the congestion you're going to see on layer one 853 00:46:14,920 --> 00:46:18,000 and two networks. Where layer twos focus more on 854 00:46:18,000 --> 00:46:20,640 improving scalability and efficiency of the chain they're 855 00:46:20,640 --> 00:46:24,280 on top of, layer threes are more intended to address issues like 856 00:46:24,280 --> 00:46:26,800 user friendliness, efficiency, and functionality. 857 00:46:27,800 --> 00:46:31,520 So Arbitrum Orbit has had a lot of success here. 858 00:46:31,880 --> 00:46:35,160 They have been used to help build D gin chain. 859 00:46:35,240 --> 00:46:38,880 So D gin chain was built using the Orbit layer 3 architecture. 860 00:46:38,880 --> 00:46:42,600 Over on base. We've seen Zai designed for 861 00:46:42,600 --> 00:46:45,160 gaming apps that's offering reduced fees and account 862 00:46:45,160 --> 00:46:47,120 abstraction not available on other L twos. 863 00:46:47,120 --> 00:46:50,720 I think a big one that's jumped out to me is pirate nation. 864 00:46:51,360 --> 00:46:55,400 So if folks have been following the NFT market at all like those 865 00:46:55,400 --> 00:46:58,920 Pirate Nation NFT has been one of the the steady out performers 866 00:46:58,920 --> 00:47:01,160 that pirate token has performed very well. 867 00:47:01,160 --> 00:47:02,560 I think it went over 100 million. 868 00:47:02,560 --> 00:47:05,160 I haven't been checking it this morning in the crash. 869 00:47:05,160 --> 00:47:07,400 And there there's CEO, there's actually a really nice Decrypt 870 00:47:07,400 --> 00:47:10,840 article about Pirate Nation that I would point folks to who who 871 00:47:10,840 --> 00:47:14,400 wanted a deeper dive. He basically says that every 872 00:47:14,400 --> 00:47:17,880 major game is going to have its own chain, its own L3. 873 00:47:17,880 --> 00:47:20,560 This comes from his experience building games like FarmVille, 874 00:47:21,200 --> 00:47:24,000 and he said during FarmVille, they're operating 64 different 875 00:47:24,000 --> 00:47:26,800 databases to keep the game from crashing. 876 00:47:26,800 --> 00:47:29,760 They had 30 million daily active users at peak. 877 00:47:30,000 --> 00:47:33,000 So when you think about Web 3 gaming and the infrastructure 878 00:47:33,000 --> 00:47:36,040 that is needed to have that level of success, blockchains 879 00:47:36,040 --> 00:47:38,120 are going to need that level of scale. 880 00:47:38,120 --> 00:47:42,120 And that is why builders think layer threes are needed. 881 00:47:42,480 --> 00:47:44,880 And Pirate Nation. They moved to Arbitrum Nova from 882 00:47:44,880 --> 00:47:49,040 Polygon due to rising gas fees and then they actually saw 883 00:47:49,240 --> 00:47:52,400 issues being on a shared chain on Arbitron Nova, which led them 884 00:47:52,400 --> 00:47:55,400 to build their own L3 called Apex. 885 00:47:55,400 --> 00:47:59,240 And I'll read a quote here. This is from the Pioneer CEO. 886 00:47:59,240 --> 00:48:01,200 As soon as you're in application with any level of scale, you 887 00:48:01,200 --> 00:48:03,680 need to be able to predictably control your gas cost. 888 00:48:03,960 --> 00:48:06,240 My prediction is there's going to be thousands and thousands of 889 00:48:06,240 --> 00:48:10,160 chains as people split off from the shared L twos to application 890 00:48:10,480 --> 00:48:13,920 specific chains. So I thought that was some 891 00:48:13,920 --> 00:48:15,800 pretty interesting insight to me. 892 00:48:16,880 --> 00:48:19,200 And I I've heard about L threes, but I didn't, I guess I didn't 893 00:48:19,200 --> 00:48:21,520 totally understand the, the, the use case. 894 00:48:21,520 --> 00:48:24,920 And when I hear it from him, you know, a proven vet who who's 895 00:48:24,920 --> 00:48:28,640 had, you know, a lot of success. I think it makes the picture a 896 00:48:28,640 --> 00:48:31,240 little bit more clear. I didn't realize he was, he was 897 00:48:31,280 --> 00:48:34,840 on the FarmVille stuff early on. I, I, I, I actually tried Pirate 898 00:48:34,840 --> 00:48:38,040 Nation at GDC because I went to the arbitrary booth and, and 899 00:48:38,040 --> 00:48:39,560 they were there. So I was just talking to them 900 00:48:40,240 --> 00:48:42,600 going over I thought it was really smooth and seamless and I 901 00:48:42,600 --> 00:48:45,080 know Danny's a big fan of it and I've seen a lot of good chatter 902 00:48:45,200 --> 00:48:48,600 like the the gaming side of web three of of Twitter. 903 00:48:48,600 --> 00:48:51,400 Sorry, talking about piration in good light like the NFTS were 904 00:48:51,400 --> 00:48:53,680 really performing very well. Look, today's prices don't count 905 00:48:53,680 --> 00:48:55,000 right? Like everything's down because 906 00:48:55,000 --> 00:48:57,680 I'm sure if I show I'm going to pull up a chart right now like 907 00:48:57,720 --> 00:49:00,120 of pirate me like, oh, look at today, but like they've actually 908 00:49:00,120 --> 00:49:02,760 done really well pirate on that front on that front. 909 00:49:03,560 --> 00:49:05,520 And then Xia, of course, like obviously everybody knows we're 910 00:49:05,520 --> 00:49:08,440 close to Sobey, but in general, like he was really the one that 911 00:49:08,440 --> 00:49:12,000 like made me realize what Alfies are are and stuff and like why 912 00:49:12,000 --> 00:49:13,320 you would need one. And I thought it was really 913 00:49:13,320 --> 00:49:17,080 impressive the amount of BD he's done to be able to bring games 914 00:49:17,080 --> 00:49:18,560 over. Like similar to pirate nation. 915 00:49:18,560 --> 00:49:22,800 He brought crypto unicorns over from from from Polygon as well. 916 00:49:23,080 --> 00:49:25,440 And it's like every other week there's a there's a new game 917 00:49:25,440 --> 00:49:26,960 being built on there. I know a lot of people want to 918 00:49:26,960 --> 00:49:30,720 like discount web through gaming because of token prices, because 919 00:49:30,720 --> 00:49:33,880 also of a lot of tokens that were not necessarily useful or 920 00:49:33,880 --> 00:49:36,800 or necessary at the ecosystem, but there's still a lot of stuff 921 00:49:36,800 --> 00:49:39,280 going on in that front and it's still probably going to be a 922 00:49:39,280 --> 00:49:42,400 leader in the other quick thing that I perceive. 923 00:49:42,400 --> 00:49:45,640 I've mentioned that a lot. That was that was way before we 924 00:49:45,640 --> 00:49:48,920 started doing the the whole like Arbitrum update on this show. 925 00:49:48,920 --> 00:49:50,520 That's the first one. But you guys have heard me talk 926 00:49:50,520 --> 00:49:52,840 about Songko TVA lot like this something like being in media. 927 00:49:53,480 --> 00:49:54,920 I personally think it's fucking sick. 928 00:49:55,520 --> 00:49:58,520 It's what ticker design DMT, which I always thought was funny 929 00:49:58,920 --> 00:50:01,400 that DMT was a ticker. Again, I'm not going to pull up 930 00:50:01,400 --> 00:50:04,960 tickers today because it doesn't do it justice, but it's actually 931 00:50:04,960 --> 00:50:09,720 like it's actually it's actually something I followed closely 932 00:50:09,720 --> 00:50:11,040 before. I'm pretty sure that team was 933 00:50:11,040 --> 00:50:14,320 trying to build frames on the arbitrary at some point if not 934 00:50:14,320 --> 00:50:17,040 had built it. I remember once I was talking 935 00:50:17,040 --> 00:50:21,040 about how I wish I could stream the show live on forecaster when 936 00:50:21,080 --> 00:50:23,000 shit was hot and they were they were working on it. 937 00:50:23,000 --> 00:50:25,840 So it's pretty much like a decentralized like twitch in a 938 00:50:25,840 --> 00:50:27,680 way. And they've got a lot of cool 939 00:50:27,680 --> 00:50:30,360 stuff going on, a lot of activity and I I presumably like 940 00:50:30,360 --> 00:50:32,840 the whole vibe of it and feeling, but check it out song 941 00:50:32,840 --> 00:50:36,720 called TVI always thought it was really cool and A and a great 942 00:50:36,720 --> 00:50:38,600 platform being built for some pretty smart founder. 943 00:50:38,600 --> 00:50:40,640 Actually, it's the type of person I would have on the show 944 00:50:41,000 --> 00:50:44,600 to come to come to come talk about this because. 945 00:50:44,600 --> 00:50:47,200 There's a lot going on in Seiko TV and it's an ecosystem like 946 00:50:47,200 --> 00:50:49,680 I've been trying to get more access to and I just, I haven't 947 00:50:49,680 --> 00:50:52,240 buckled down and, and spent the time, but there's a lot of apps 948 00:50:52,240 --> 00:50:53,920 and like that. I mean, of course the tokens are 949 00:50:53,960 --> 00:50:56,800 down today, but DMT was, was one of the top performing alts. 950 00:50:57,360 --> 00:51:00,640 Like it, it's hard. I think it hit like $150 million 951 00:51:00,640 --> 00:51:03,560 market cap. So like they've had some some 952 00:51:03,560 --> 00:51:05,600 strong success. Yep, they were. 953 00:51:05,600 --> 00:51:09,920 They were it was a it was a pretty love coins for for 954 00:51:10,320 --> 00:51:12,120 altcoin for for a very long time. 955 00:51:12,120 --> 00:51:15,440 And I know for a fact that there that those founders are doing 956 00:51:15,440 --> 00:51:17,040 some cool stuff. But anyways, look, every Monday 957 00:51:17,040 --> 00:51:19,440 we'll present you some some cool stuff being built on Arbitrum, 958 00:51:19,480 --> 00:51:22,240 including what we're what what we're up to. 959 00:51:22,680 --> 00:51:24,640 I really like that team and obviously, like it's always a 960 00:51:24,640 --> 00:51:27,080 pleasure to to partner with, with builders in this industry 961 00:51:27,080 --> 00:51:29,760 that that are pushing, pushing boundaries and pushing the space 962 00:51:29,760 --> 00:51:32,600 forward, especially the etherium ecosystem, which we love, right. 963 00:51:32,760 --> 00:51:35,440 So it's awesome. Anyways, Tyler, Tyler, Tyler, 964 00:51:35,760 --> 00:51:37,360 we're on time. This was great. 965 00:51:37,400 --> 00:51:40,200 We survived the show. I woke up not sure how we do it, 966 00:51:40,400 --> 00:51:45,760 but we did it because remember, remember in the words of the why 967 00:51:45,760 --> 00:51:49,000 CZ who's watching this from prison, wishing he could buy 968 00:51:49,000 --> 00:51:52,480 this dip. He says if you can't hold you 969 00:51:52,480 --> 00:51:55,080 won't be rich. So with that with that with that 970 00:51:55,160 --> 00:51:57,080 we'll see y'all tomorrow morning, 10:00 AM Eastern 971 00:51:57,080 --> 00:51:59,480 Standard Time for another episode of formal hour on rock 972 00:51:59,480 --> 00:52:00,800 radio. Let's.