Yo-yo, yo, what up? What up?
Good morning. Good morning, GMG Monday.
Oh, baby, baby Monday is February 24th, 2025.
Look at this. Another beautiful day to have a
beautiful day. We are so badly.
We're so bad. Here's Mark Pisen.
I'm back, but I'm back. But I I let I think they'll have
to mark it with me in Asia. I got my coast to the house.
Tyler, Tyler, Tyler. Good morning.
How you doing today? I'm good, as good as I could be
on another bloody Monday. Bloody.
We're just, we're, we're doing this again.
We were back. We were so back on Friday
morning and now it's over again. We, we do this every week.
It's ridiculous. Dude, This is why I'm looking at
the market and I'm like damn, I can't.
I didn't really look at the market at all this weekend or or
the last couple weeks, but but I'm looking at now.
Yeah, it wouldn't weigh like at 100K on Friday.
Yeah, we were over 99 feeling so good and then live on the show.
The buy bit hack happened and then now it's just there was
COVID scares. A lot has happened since Friday
morning. It was put it that way, but how
are you? How was your?
How are your travels? I'm good, I'm good.
Realize it's been exactly 2 weeks today.
I missed you guys, I missed the show.
I missed you guys, I missed the I missed our audience.
I mean, that was fun though, you know, obviously we did NFT Paris
two weeks ago, which was great NFT wise.
It's still a strong culture around it.
It's always more fun, right? The NFT culture over like the
whole meme coin culture. So that was fun.
We had a great booth. Shout to everybody.
Everybody was there. It was a lot of fun.
Sweet, a bunch of interviews, blah, blah, blah.
You know, with Myriad. And then Hong Kong, dude, I
mean, Hong Kong is my first scene in the world.
I can move there tomorrow. It's so good.
It's so good crypto wise. Shout out to Coindesk consensus.
What an incredible conference too.
You know how people some people like, don't like going to
conferences? Like there's a few of them
actually worth it. It's like one of those where you
walk the conference floor and you're like, wow, this is really
cool. Like you get bullish, but then
you look at price action like fuck.
But besides that, you know, it was it was great.
It was great. It's my favorite series.
Feel a little tired, but you know, we'll, we'll reboot, get
back on the health shit and and on the show mostly it's it's
sucks not doing the show. Honestly, it keeps you on track.
You know, like for two weeks I thought I was completely lost.
Part of the part of the routine. Yeah, part of the routine.
Yeah, exactly. It's like going to the gym.
It's like, yo, you got your workout in, you know, you got, I
mean, you guys like get the kids from school and stuff.
It's like I wake up, I do my thing, I make my coffee, I have
my show, you know? But now we're back.
We're super back. And, and we got a lot of stuff
to cover because it also seems like this weekend was another
packed weekend, which is why, I mean, there was a whole hack and
now it's been recovered already. Shout out to Ben by a bit.
But I'm sure we'll talk about today on the show.
We'll talk through macros. We'll talk to all that stuff.
Markets. Mando's not there yet.
My boy knew he was coming back and he was like, fuck, Oh, he's
like coming. Mando's death broke back.
I'm taking a break. Fuck this guy.
I've left him in the past like that.
And I came back and was like, yo, my turn, I'm here.
But he's he's on his way just texting me and then so we'll do
markets. We'll go through Tyler's top
100. I'm sure we have a lot to cover
and and that's about it. Real bit loot box pins will be
back on tomorrow. I heard you guys had a big win.
Was it Friday or Thursday? A little pudgy Penguin win.
So I'm really excited. Maybe it took me leading to
finally get a big hit Tyler, but feels nice feels nice.
It was a lot of red guys. So anyways, and so we'll go
through all this. And as usual, this show is
powered by oh, yeah, oh, yeah, yeah, we're so bad.
Galaxies. Galaxies is a Web 3 platform
empowering creators and brands to build unstoppable communities
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And I see him and the house. So I'm going to go straight to
you, man. Can you dig it?
Yeah, GM, everyone, can you hear me?
Good morning. You can hear me then.
Good. Yes, Sir.
Sorry. Travelling.
Yeah. Look, the market looks cooked,
doesn't it? Like not trading well at all?
Obviously Post. Actually it was during our show.
We had the hack last week on Friday initially underperformed,
then it outperformed and then the market got naked after that.
So Bitcoin 94 1/2 Solana has really been the one that
underperformed if it'd been coming since Libra right, but
down to 150 area right now that's down.
Oh, that's down to like 20% since Friday really ETH ETH is
is holding up slightly better, but still not not looking so
good. Bitcoin dominance looks like
it's gone up to around 62%, so continue to go a lot, lot
higher. Not good for a range of
different altcoins. It looks like either some of the
L ones have been slightly outperforming on this rotation
away from Solana, but in general a lot of the Solana based alts
dominated a lot of the altcoins in terms of memes and and AI and
all that sort of stuff. Really not trading well again.
Obviously Slide D5 coins also getting cooked.
We also have the the radiant thing there as well.
That was nuts. So just a terrible day really
all around it had it had been a weekday in macro on Friday, it
was the worst day for stocks this year, year to date that is.
And it was down about 2%. And that was on the back of a, a
consumer confidence figure, which was slightly worse than
expected. And then just general fears.
It felt like like there was some people looking at like this
random COVID headline, although I think that was kind of a bit
of a nowhere near as big as people were saying it was.
It was. But yeah, big, big move.
And the VIX today has gone up to 20.
So that's up about 35% in in about four days.
So big, big move in, in politically in macro here, which
I think is also getting people kind of kind of worried.
So now Bitcoin holding up at 94 1/2.
Obviously that 92 91 area is where we've seen it.
It consistently bounce. Gold is holding up still
relatively well. Gold is kind of unchanged near
all time highs. So hopefully Bitcoin act like
gold and the market doesn't go completely to goblin town.
But everything else is is trading is trading very, very
weak. It looks like I, I mean,
obviously the hack didn't wasn't really a great feeling for a lot
of people, but I think this is also retail ready getting carted
here on this on this move in Solana, which has affected a lot
of the ecosystem. What 26%?
Yeah, but the timeline is is wrecked.
Let's be honest here, like all the people that are in here day
in day outlook trading, trading more of the left curve stuff.
It's it's not been it's not been that pretty.
The bright spots appear to be, like I said, some of the chains
where funds seem to be flowing. So things like bearer chains
holding up pretty well. Sonic, which you mentioned on
Friday, again is holding up relatively well.
And and they're kind of marginally down, let's say since
Friday. But the rest, I mean even hyper
liquid, Hyper liquid liquid is about to go below 20 here.
Yeah, it's. Yeah, it's.
One of the top losers today with alongside Solon and Co.
Yeah, it definitely feels as though people are are in some a
decent amount of pain kind of a kind of across the board.
This is this is now starting to affect some of the even the
popular altcoins, you know which I don't think is I don't think
is that that pretty Mac macro this week is is actually quite
busy. We have, we have GDQ 4 GDP, we
have, we have PC inflation on Friday.
That'll be the big one. It's NVIDIA earnings as well.
So maybe we'll see some some stuff around that.
So we have definitely some volatility, volatility attached
to that. Michael Saylor is still buying
Bitcoin. Well, no, 2 billion, the micro
strategy stock is not trading well at all.
I think people are getting a little bit worried about that
one, or at least they don't like this situation where it keeps on
loading up as micro strategy stock goes down.
So yeah, nothing yet which is going absolutely crazy.
Like that would be like the the smoking gun.
Apart from this, apart from this hack, which I think just got
people very nervous about crypto in general.
Some people pointed like stretch stock market valuations, but
nothing, nothing that's like going to be the trigger really.
What did you think of this one? SIM sent that to us yesterday.
I mean, keep in mind the guy's name is the short bear, but it
was this tweet yesterday about like, I think you could kind of
going there now like coin master Microsoft, sorry, pound here.
Microsoft, like a lot of these stock stocks like seemingly not
holding pretty well. It seems like today they're
they're kind of breaking down. Yeah.
Look, I mean, this is crypto breaking down as well, like.
Is Steve Cohen going bearish too?
I saw a bunch of stuff like that.
Are you worried about concern about this at all?
Am I concerned about macro? It's difficult to say.
Inflation looks like it's heading slightly higher but
nothing crazy. I'm yet to see the thing that
like causes us to break. Like causes a massive sell off,
but it definitely feels like the fear is back.
But the fact that VIX just went to 20, right?
That tells you that the fear is is back in the market.
Even with stocks at or near all time highs, like yeah, they
dropped 2%, but like we are very close to all time highs on on
the stock market. That's in Europe.
Why is it 3 three-year highs in their stock market?
So stocks of Germany held up very well over this period.
I think people are kind of looking for a reason to be
bearish. Do you know what I mean?
Like what's going to be the thing that causes us to heal
over? And I feel like that's slightly
the same in in in crypto here. Like people feel as though
they're kind of surprised that bitcoins not lower given, given
the absolute bloodbath that's happened in everything else.
So but it hasn't. And people think people are
waiting for that thing that goes like, oh, OK, we've been waiting
for this, you know, Bitcoin goes to 8085 K or something like
that. You know, like kind of just has
that feeling about it right now. But but I don't see it just yet,
apart from maybe like maybe one of the sovereigns breaking or
yeah, like China, China, Taiwan, that sort of thing.
Like there's nothing there yet that points like, oh, this is
going to be in detail or something like that.
How do you feel in Maya Tyler? Yeah, I mean, I I even shared
some of the bearish takes in our chat just.
You know, yeah. Total echo chamber, right?
And I think, you know, I both lean pretty perma bullish but
very smart people. Are like.
Sharing bearish views and it's things we talked about on the
show before. It's some volatility.
It's like these tariffs come into play and that's not really
having a full understanding yet of what the impact of that is.
It like if you go to the grocery store and I went grocery
shopping last week, prices on some of these things are high,
but one of my grocery stores doesn't even have eggs.
And like, I know that's kind of its own thing, but like, it's
more than just. Eggs wild.
It, it does feel like prices are going higher a little bit, which
is going to impact consumer satisfaction.
So like it's not making me like flip mega bearish, but it also
kind of sets up like, are we just going to chop the
foreseeable future? And I do feel like the, the chop
outcome feels a little bit more likely at this point.
I think there's like the Microsoft's seemingly not
renewing some of its data center leases that's got people spooked
a little bit about the, you know, the, the near term future
of AI and the demand for power and, and all that.
I think NVIDIA earnings are going to be huge on Wednesday.
That seems like the, the, the big event of the week here.
I think if you want to flip the the bull case though, is crypto
just saw the biggest hack in crypto history and human history
and Bitcoin's still trading in the rage right I.
Mean, yeah. Bad.
Certainly. Everything's down.
I mean, Bitcoin is seemingly decoupled from crypto as a
whole, right? Yeah, it, I mean, I think from a
price action, it's like I I'm looking at Bitcoin right now.
It's like barely moving. The thing's at like 94 and a
half, $1000. And then there's Solana and
everything else. Just like complete breaking
down. Theorem was having its moment
this weekend, but seems like that was the buy bit.
Load up Classic, man, you, you know what, for the first time
though, yesterday I actually was like, you know, this time could
be different for Ethereum. Like in my head, I literally
thought about it. I was like, yo, maybe I think
I've been texted, man. I was like, yo, like I kind of
want to move like 2550% of my port to ETH.
I mean, it doesn't matter because everything's down now.
So it's not like it would have been up or down.
So like it'd been pretty flat because it'd been down or down,
but it's like, it's pretty wild. We can't catch a break, boys.
I know catch a break. It felt like that on Friday.
It felt like Friday Ether's about to outperform for the
first time and the market might feel good.
And then, you know, Bitcoin was about to go to 100K and then and
then we had the hack and then when it happened on Sunday
night, again, I think everyone's like, oh, don't do it to us
again. You know, at the moment, if he's
going to, if he's going to rally again.
But it's. Going to Rick.
It feels like this defensive asset almost that people buy
when they're just like they've lost money on everything else.
Yeah, yeah, look, it's it's bad out there right now.
If you haven't just been on Bitcoin the whole time, it's
been a big move down in the majority of majority of assets,
even L ones. You know Solana is down.
That was a month ago basically that that it was at its high.
That was at 290. Right now it's at 1:50, so it's
outfit. Buck.
It's it's pretty wild and it's not just them, right?
Like it's taken down, taken down the vast majority of all the AI
and memes and, and it's not even like East did that well during
that over that period either. Like that's down.
It's only and Bitcoins down. Yeah, God, it's it's not to be
safe. It feels like right now people
are looking at like stable coin yields and and like defy.
It's almost like when we were joking about a six month drop
last nine month drop a few weeks ago.
A few months ago we were right. Remember we we literally looked
at the Bitcoin chart like yo, like we're just going to
replicate that whole chop period and it looks like this is really
what's happening guys. And if you've even this is the
show, you know that was one of our thesis on the show for a
minute and it's like getting confirmed everyday, right?
It was like that, that period here.
They could last here again. It's starting to look like it's
just going to go like this one's going to happen while everything
else gets just, like, decimated. Yeah.
And that chop, though, still stuff still did OK.
You know, like, yeah, yeah, of course.
It was an environment where people were were trading meme
coins and they had their whole meme coin season and and Solana
still held up pretty well. And this, this just feels like
Bitcoin dominance is just heading to 70.
You know, it's like everything is just getting smashed.
What's the BTCDI? What do you mean Bitcoin
dominance? Like it?
It does feel like there's pockets of new and protocols
doing well, like Bear. Up right, Sonic?
Well. Like Kaido just lost a $2
billion fee into what like people have people think it is a
bear market like that. So like there are pockets of
opportunities. I think it's the point.
And I feel like if we stay in this range, there's going to
continue to be pretty strong opportunities like that.
You're right, I mean Cairo's doing good Sonic.
I've seen a lot of stuff around it.
Probably also one of the reasons why Solana's down a bit more in
terms of D5. I mean the the radium 911
happened yesterday with the pump fun news, which was like, I saw
this. I thought you might do right
away. I was glad this morning when I
woke up and like, no, I'm I'm good, I'm safe, but like I I I
know it was super late for you. I saw this like fuck, I saw the
radium news on on pump fun of insulin AMM, which they launched
and on the back of freedom like I'm 26% guys like that's like an
insane move. That's crazy.
It is and. It isn't like this is unknown
like this doesn't actually account for that much of
Radium's volume pump fun, but. It narrative, right?
It is a big. Big part of its growth story,
yeah. And so that's, yeah, just
another one though. But like this is in the back of
Jupiter, like getting caught up in the whole.
Yeah, Melee. So like what in what in if you
weren't? If you move from the means to
memes to the shovels to even the L1 like nothing on Solana was
safe. During nothing, absolutely
nothing and. And we have.
And then on top of this, you have the dangers of a Kanye coin
dropping anytime. So that's like.
Of which what would you want to own in that scenario?
You probably you probably wanted to own the shovels place, right?
So like, it's, it's just a, it's just Solana has been a really
crazy, awful trade since Trump came out.
The one of the biggest head fakes that I got that I got
caught in too, right? Like it's just like you got, you
thought that this was going to be wow.
Like Solana, the the President of the United States has
launched a coin on Solana. It makes me give her this so
much. You just think.
Yeah, the thesis was just like tons of coins are going to come,
which they did. Everyone's going to have a coin,
you know, Internet, capital markets, all of that.
But instead of that playing out over months, it paid out over
days and weeks and and it just wrecked everyone.
And in the end salon, it's gone down 50% like.
Oh my God, I was just scrolling the timeline and as you were
saying this it makes me think of this clip and it literally
pulled like I'm scrolling the timeline and this comes up.
What is it? Yeah, we can't hear it.
Oh, you guys can't hear? We're just getting started.
It's as you were saying this, this thing comes up.
I'm like, fuck. Like in retrospect, it's like,
God damn it, we had it easy after Trump coin and then and
then everything just like hit the curb.
And that wasn't really here to like give my opinions on like
what happened last two weeks. That's crazy.
I've never been more bearish on Solana in my life and I still
have my whole GLP position. I was thinking like I traveled
my keys and anything, nor did I touch anything.
But I got to say like after the Malay thing, I woke up and I was
like, I want completely out of this.
I think I texted you mind about this but I was like I have never
in my life felt more bearish on Solana than today after this And
and I think. A lot of I think a lot of Solana
OG's did as well. I mean, it's it's terrible.
It's just terrible the whole situation.
And then again, like Friday night, like this guy just
fucking triggered, warned him, like killed himself on stream.
And then they told him like this is and that happened Friday.
So this is of news this morning. Like it's super sad, man, you
know, and there's nobody to like condemn it.
Like, and then like, I love Raj. He's a homie, but like then I
see him like light dunking as a joke on if you're in the
meantime, someone's like offering himself on his chain
after multiple rugs and they're still like silent.
So it's like dude, like have some like a little bit of like
compassion maybe. Like I'm not expecting them to
come and be like, yo, stop dropping Rocco Solana.
Like no, I get it, decentralization permission,
less systems. But like dude, like say
something, man, like I don't know, just say something.
I don't know. I'm super bearish on the old
ecosystem. I still have my entire GLP
position, which is also down, but that's like I would have
been down even more. Like I would have been
completely like out. Like it had kept all my
positions from before the Trump trade here.
But it's I'm super like, I'm not very bullish on the ecosystem as
it stands. The thing is, The thing is like,
what do you, what could you have actually earned like?
Nothing. No, you're right, JLP is a
stable nothing stables Bitcoin with. 110K and now it's in 96.
Bitcoin only. Sorry, so now it's at 94.
Like, it's not like nothing you could have earned over the last
month really made money apart. From.
From some of these new coins and maybe bearer and Sonic right
which? Is but you have to play every
rotation perfectly again. Like you got to be like God, you
know, like you got to. And then ain't nobody like that.
Like if anyone tells you right now that they're up in the last
month, like they're lying to you, you know what I mean?
Like, ain't nobody up. You know, I was just looking at
the jail feature. I mean it, it's one, it has to
be one, it has to be one of the strongest performers though,
like compared. To market.
It is down 20% from peak Solano's, down 50%, Yeah.
Literally saved that the whole thing.
Like so that was still a good move compared to everything else
other than going to to stables basically right I.
Mean if you want to be risk on while not having stables, you
should GLP, right? Like you arguably like this is
something you want to be risk on.
But in retrospect, like, you know, stables was the move after
Trump trade, but it's hindsight, right?
So like I should have, could have, would have, right?
But nobody made that call. I don't want to flip too bearish
on Solana here just because I think some of the fundamentals
that we talked about as part of the bull case, I don't think
they've all gone away. I do think that there needs to
be like a cleanse and a reset here from some of this meme coin
fallout. And that's going to take some
time. And I don't think we're going to
see like a big meme coin run on Solana anytime soon.
But the reason that it all happened on Solana was because
of the UI and the speed and that is still there and there are
other apps. We're selling off right now.
I don't want to go too too bearish.
On yeah, no, I think I mean let's we'll move on to the
topics today, but like, what do you what do you guys what's your
final outlook here Mando on on this market and you think we're
going to we're going to bounce at some point here.
Typical Monday. I mean, Mondays are known to
like every Monday this year has been a fucking dump fest.
Every single Monday this cycle this year has been a dump fest.
And every Friday though as well, right?
It's like. And every Sunday it's like 3
days out of the week. I think, I think this is more
than just a crypto sell off. This is a macro sell off right
now as well which doesn't help and that was happening on Friday
as well. Scary.
Let's see how that one resolves itself.
But like the fact that the Nasdaq's another half percent
today. It's not.
It's not helping, I don't think.
So Maybe we see some more pain. Yeah, more.
Pain here like. I'd be unsurprised if Bitcoin
touches that that that support level it's been in.
Yeah, it's like part, it's like 90.
Like we're talking about Bitcoin here.
Like some of the other stuff, Bitcoin dominance could continue
to push higher today. If I'm honest, it's difficult to
know what you want to buy when everything's falling like a
knife. But Bitcoin feels like the
obvious one, man. Like some of this stuff is is
really falling out of bed though.
Like some of the stuff that I was even living in Las Vegas
Cafe just hit nought point nought 8/6.
Yeah, we were talking about it like a week ago.
You see how that stuff moving Trump is down to 14.
Obviously that's kind of that kind of makes sense.
The stuff holding up OK here, interestingly, is like B&B,
Sonic, Bitcoin and. And this isn't like a positive
news cycle too, right? Tyler's going to get this, so I
don't want to take it away. But like Robin Hood case dropped
this morning, Coinbase open C. I'm sure you swap snacks like
we're like winning on the framework side, but we're losing
on every other side, which is absolutely insane.
Like even it's a lot of thing you could argue like, OK, like
it's not over with. There's an investigations on on
the melee case and everything. But you know, like it's not like
there's a drop. There's a drop in every day
right now. It's just, yeah, that's.
The thing like there's a slight departure there from what
institutions and the regulator like the the the news flow also
like again, the number of stables just continues to go up
only, which makes you think that like this isn't this isn't a
we're getting out of crypto thing.
You know, this is just like the the market's selling off.
Move to stables or move to the L ones, you know, or move to
Bitcoin, so. Yeah, anyways, I guess we'll see
where that takes us. Tyler, Tyler, let's see what you
got for us. Let's let's change the mood up
of it. Jesus, man, what's this?
This. Damn.
It's my first go back in two weeks and it's just like
doomsday, God damn it. I mean, our fault.
We're just being like objective here, right?
I think as we should. All right, I've deleted all the
negative news. We're just going to talk
positive news here this morning. So buy that has closed the gap
from its E pack with customer funds now fully backed after
what was the biggest hack in human history, Michael Saylor,
they bought 20,356 Bitcoin for 2 billion dollars, 97,500 average.
Get this, their new average buy price for Bitcoin is 66,000.
So that is creeping up in real time.
The SEC has dropped its case against Robin Hood, its latest
high profile drop. It comes after the open seat
case was dropped on Friday. Canary has filed for an H Bar
ETF, which according to the Bloomberg ETF analyst means
Litepoint and H Bar are in pole position to get the next ETF
approval. Not Solana Montana, they
rejected their Bitcoin strategic reserve proposal.
I think 3 states have now rejected their proposals, though
several are still moving along. Utah still the furthest along
there. Sonic now in the top ten weekly
volumes, 800 million on the week.
Pair chain cooking as well. Top 10 stables, 7th and TBL
first in that weekly close. In token AirDrop and protocol
news. Pump Fund reportedly launching
its own liquidity pools via AMM dot pump dot Fund no longer
dependent on those Ray pools. Pump Fund also did remove a
token over the weekend tied to the Lazarus hacker hacker
groups. That was an interesting story.
Kaido briefly soared 30% after an announcement of new rewards.
Tears here. They're announcing new social
cards based on the amount of Kaido AirDrop held and states.
And then Arkham launched spot trading markets in several U.S.
states as well. Quiet weekend in AI market cap
down to about 6.4 billion when I checked this morning.
Perhaps down a little bit more since then.
The big story is this new sports betting AI agent Billy Betts,
one of the biggest winners of the weekend jumped to
16,000,000. It revealed it had a $100,000
bankroll to bet with and it has. It did have a lot of success
here this first weekend and meme coin news not a whole lot.
This AVAX meme coin pre sale for this BLOB token received over a
100,000 applications. So people are hungry for these
AVAX pre sales and then no Kanye meme coin launched after a a
roller coaster weekend. It seems the account perhaps has
been sold, We don't know for sure, but the odds being
launched this month now below 40%.
Wow, that's a lot of bad news. I'm trying to I'm trying, I'm
hunting for some good news. I mean we are waiting on every
case in the SEC side, but but there's.
Some decent headlines there. Where do we start?
Let's see, I mean, if we want to, if we want to do some, some
positive news, we can talk about Kaidos.
You didn't have a chance to to get into it with us too much
last week. Let's bring the chart up.
I mean that that thing is that whoever that market maker is,
let me know please. I need to have a conversation
with them. Yeah, I mean, this is impressive
price action. So it's still at $1.76, which is
1.76 billion. It was close to 2:00 this
morning. So it it's, it's catching a
little bit of fallout from this broader market sell off, I don't
think a huge surprise there, but sitting at 1.76 billion now four
or five. Days.
Pretty damn impressive, I think you have to give them credit for
and they've been keeping their foot on the gas with the
announcements like who's been speaking up quite a bit.
And then the news this morning is there's these new 3 tiers.
You're going to have like a a badge on your social profile
based on what percentage of your air drop you held and then how
much is staked. Yeah.
So that they're incentivizing staking, they're incentivizing
holding your AirDrop. And the way it works is they're
not going to know if you sold and bought back.
It's just at any point, it's just a snapshot of how much you
were airdropped and how much you currently hold.
So if folks have regrets that they're, they can buy back, but,
but clearly that is a big part of their strategy.
And I mean, it's, it's working, right.
It's, it's working so far the market likes it.
So I think this was, this has to give you hope.
I think if you are launching a protocol or an app in in 2025
and perhaps you were worried about market conditions that you
can still have success. Yeah, you can.
I mean, I think it's a shout out to them, by the way, I know we
didn't talk about it, but like, dude, despite all the Jesse pull
action on the timeline the other day when I was away, like I
mean, I I'm a fan, like I think what they're doing is great.
I think you who it's you who right the same.
I think he's a good founder, a good founder in the sense that
he cares about his product and both posts product 24/7.
He's actually building something like I had initial calls with
Kaido like a few months ago because I was a fan and I still
am. I think what they're doing is
great and, and you definitely have someone here who knows what
he's talking about and doing. So I think they're building cool
social layer on top of social platforms.
And I like that, right? I've I've been speaking very
often about this like I'm tired of people building social apps
and then you got to build something on top of current
social apps, I think is better. And so I think that what they're
doing is great and clearly they have they clearly have the right
people in the corner because, you know, price action shows
what's happening. So good stuff there.
That was really nice plus managed to get you a punk.
So we love that. That was great.
That punk was great. I I have to say crypto pucks
probably starting to look even cheaper now.
Oh. Yeah, the the floor is down a
little bit. I I raised the pole like stats
just put in the pole out there. I think you, yeah, I they're
they're they're neck and neck with a Bitcoin.
Yeah, Bitcoin is so strong, dude.
It's I don't blame people voting Bitcoin.
I still vote punks for the rest of the cycle.
But but it's definitely, it's definitely a tight 1.
So a lot of good stuff. And you're right, I think like
people shouldn't be scared to just keep at it.
I just think it's a weird time right now to drop any sort of
like tokens, right? Like we, we approach this
differently day-to-day on our end.
I think like right now you just want to like show a good
product, show revenue. I know Kedo's still they people
are asking to see if they can show them and stuff.
I mean, it's a little more complicated like showing revenue
to the, to the timeline and stuff.
So I understand why I like, you know, can't just like have the
dashboard. Oh yeah, this is our revenue.
Doesn't really work like that. But I think like showing good
revenue, showing good volumes and then you can go ahead with
the TGI. Think there's nothing wrong with
that no matter the market, right, If, because if you have a
good flywheel market, I mean, doesn't really matter, right?
There's always going to be buyers and sellers just a little
less in the bear market than there is in the bull market.
So we definitely want Bitcoin to hold, which it's not doing so
great right now, but we'll be back tomorrow, I'm sure, and
Thursday and Thursday, and then we'll dump again on Friday.
Anyways, Tyler, what else we got?
Yeah, I tweeted out some of the Bear Chain stats.
Might be worth just looking at a little bit more detail.
I know may know kind of covered it, but you know, they, they, I
think you can make a case they were the biggest winner of this
past week. So they're now up to 3.27
billion in TBL, which is in line with what base has, though base
bridge TBL is a lot higher. They're up to 1.28 billion in
stables in volume on the week. I think arguably the most
impressive is they were the biggest in net inflows on the
week with 115,000,000. Yeah, you can take all this like
bridge flow data with, with a grain of salt because I've seen
like Artemis and Define Llama report this stuff differently,
but that does generally seem to kind of match with anecdotally
what I'm saying. It seems to kind of match with
some of the price action we've seen.
So I I think the we talked about this with Mando on Friday a
little bit. You weren't here is like, is
this a potential like small next meta where folks get into what
we called like this, this D Gen. D5?
So a lot of it is kind of like D5 summer type protocols with
big yields and and yield farming strategies versus just like meme
coin trading. So like that seems to be what is
getting folks over to bear Chain and that's what's getting folks
over to, to Sonic right now. I mean, it kind of makes sense
with where the market's at, right?
Like if if we're going to be in a meme coin depression for the
next at least few weeks, I don't want to try to put like a real
time, but I don't think we're going to a big meme coin bull
run. No, we could.
Not I mean do you want to buy any memes personally, I know I
don't think you do right. We talked about this, you and I
in the chat like there's no, I haven't traded.
When was the last time I traded? I don't remember it's.
Probably been a while for you I mean.
I haven't traded in weeks dude. Yeah, I'm not actively trading
memes. I I traded a little bit of jail
stool early on. That was one thing.
Dave Ford, I did. What a loser.
Starting meme coins anymore? Dave yeah, I mean, they didn't
pump and dump anymore after the fucking SCCS.
Like you can't just fucking come and commit crime anymore, right?
What happened to crime season? Oh, man, I'm so bullish from,
you know, there's a good, there's a little bit of good in
everything that happened. It's like it's natural selection
of also all the criminals and everything.
Yeah. And like I've seen like there,
there's like this new common rhetoric on the timeline to like
dump on everyone who says the, the the bull run hasn't even
started and like, what are you talking?
But I think there's still like the the general outlook that we
now have pro crypto administration.
We we now have like a safe place for builders to come and build.
I still do think that we're we haven't really scratched the
surface of that. Like I'm not going to, I'm not.
That doesn't mean that bitcoin's not going to go down, doesn't
mean that slaw isn't going to go down further.
But from from that standpoint, I do think there's still a lot of
reasons to be optimistic despite rocking near term price action
A. 100% I mean, I think I think there was this whole thing of
like, you know, Trump is coming in and breaking everything
before trying to build everything.
So if you're still in that camp, then there it requires like a a
shift down before any move up or like months of chop.
And we kind of talked about this like one of our like main core
thesis on the show was this like multi month chop.
I think we call this a 2-3 months ago and it's like playing
in real time with like a big altcoin bleed.
And you can't have an altcoin season with all these memes
being created and running every day, which was what Mando was
talking about. And now that there's not this,
this this meme coin media going on right now, maybe the some
alts that will run. And I think Kaido's a great
example here. Now let's see if it's sustained.
Let's hope it's sustained it. It would be the best thing ever
if like Kaito and like the recent TGS are like there.
You have Monad and Mega ETH on the way, right?
Oh, I meant to that. That's the last trade I made.
I meant to my, my, my fluffy or fluff, whatever it is.
But you have Mega Ethan, Mona on the way.
You have Sonic. That's doing well.
It seems right so far. I am.
I'm not playing it at all because I wasn't around.
So I'm trying not to get into something without doing
research. But that's doing well, Right.
I saw Andy's playing that. So it's not like all hope is
lost. It's not like there's nothing
going on. Yeah.
Something that makes to show up every day, but you don't.
Always. But you don't need to show up
every day and look for the pump run.
There's no more daily runners. I love that meme.
The daily runner. I mean, there was one yesterday
night, the crack token. Happen but like this is not the
time from my point of view that you need to be sitting at the
desk 12 hours. No, it's a meme scope.
Taking the weekends off like you know how during the peek at the
bull, I was like, yo, you want to be on this weekend?
I've been taking the last few weekends off and I know Mando
has been too because he wrote about it yesterday.
He was like, I've been taking every weekend off and dude, it
feels so good. Like just like fully like I
after the whole like saga of like these rugs, I personally
was like fuck this shit, like I'm good.
And so I took a few. I took all the weekends off on
top of having to travel. So it felt good to be away from
the timeline because the timeline is grim, dude.
The timeline is pretty grim. It is and there was this
refrain. Everyone was talking about how
how tired they are, like the I'm, I'm I'm tired boss meme was
like the the most popular meme. If you're tired, then now is the
time to recharge. Like this is not the time to to
to be, you know, full court price.
But you can still stay close to what a lot of these protocols
are doing and a lot of them are are lower effort where, you
know, 30 minutes a day, 60 minutes a day can can be enough.
So I'd still say you want you want to stay plugged in two
degree. I think I'm just looking at some
of these charts real quick. Like the whole Trump pomp is
gone in basically every sector except Bitcoin, which I think
that's why it is painful and just now kind of coming to
realize that. So Seoul was 157 before Trump
got elected. It's at 152 now.
So it's trading lower. ETH isn't quite lower, but
basically there. And then like the meme coin
sector is certainly lower. Yeah.
That is a big part of the the pain, but you know, maybe we'll
go back to the other sections of the market.
So we were just talking to myriad #2.
Dude. Well, what list was that?
The DAP radar. DAP Radar, dude, let me pull it
up. That's actually I I had no clue.
I was sent this this morning by Elan.
Let me pull it up. It's in the gambling session or
whatever. We'll take it.
So let me open this on my computer.
Hold on. What is it?
No, I'm not a bot. OK, here we go.
So if you go to DAP Radar. And a gambling session.
I'll make a post about it later, but but #2 is myriad.
That's actually insane. Dude, we're crushing. 17,000
week unique active weekly users love that yeah.
Real metrics too, we're at like 400,000 signups.
I would say like realistically like 6570% of that are like
actual users that are like, you know, not no duplicate accounts,
stuff like that. We'll we'll make once we get
closer to time, like we'll, we'll like, you know, we'll,
we'll make a whole report for like this is like there's still
appetite for apps and there's still appetite for like, you
know, builders. I think it's always going to be
the thing with crypto is even though there's a lot of always
mean coin media and bullshit, like it's always the builders
market and builders always win in crypto.
Always. They always have the last laugh.
I I think there's an immense appetite for apps.
Yeah, I think that there's less impetite, appetite for
infrastructure. So like I've been saying, and of
course the timeline is very negative right now.
Like if you talk about a new L1, people are like, oh great, like
another cash grab L1 that we don't need like that default
reaction. But people want apps like that.
That is spot on. They want to play games, they
want apps, they want to do stuff.
I mean, dude, wait until we turn the USD markets on this.
I'm dying, dude. I wouldn't be surprised if we we
hit like 100 million hundred million TV out like month one.
Like people want to use the platform.
Like even you told me, Hey, like I can't wait to load up.
Thank you, Mary at like, not because you work with us, it's
just you didn't just want to go and predict stuff.
And so it's a good alternative to like this meme corn media
being dead. It's good alternative to like
the market not being like out there.
So you have an opinion like go trade that, you know, and I
think people, there's a better appetite for something like this
than a lot of the trading. A lot of the the times I've been
wanting like I go and marry, I'm like, fuck, I wish I could put
money on that on that market. So we actually did something
cool. Tyler, I know you covered it a
lot, but like 2 weeks ago into the, a week ago, we did a
tournament with Sopo poker. There was 6.9 million Pengu that
was, you know, bet across different outcomes.
And that's $70,000 / 2 hour poker game that people, you
know, that we didn't even market like crazy, right?
Because we didn't want to break shit.
We just wanted to keep it kind of low key, but like $70,000
that would bid on like on different things.
And I took it home, of course, for my people.
But you know, it's, there's an appetite for this.
So I think it's like if you're a trader, maybe kind of this
market sucks, but like if you're a builder or like someone who
enjoys crypto that wants to play games, teams use apps instead of
like this isn't the bear market for builders.
Totally agree. So anyways, I'm going to claim
my points now. Actually, I just cooked some
more. Three markets, that was great.
I I played several of them. They were chomping at the bit
for for these USDC markets. Yeah.
So whenever they do, we're going to be ready.
We're definitely going to be, we're definitely going to be
ready here. I just want to say, well, a plan
to refund Libra investors be announced by the end of the
week. I obviously slammed a no on
that. Speaking of which, did you see
Beanie's Last Post? Yeah, I saw it right before the
show. I haven't had a chance to dive
in. Yeah, me neither.
But it seems like La Nacion is reporting that the US Department
of Justice is investigating the creation and collapse of Libra.
That, that would not surprise me if, if that is true.
And I think that this was actually not a consensus take.
I think there's a lot of folks on the timeline who thought this
was not going to be investigated.
And I, I, I did not agree with that.
I, I felt like this was big enough that they are going to
step in and look and I don't, I don't know whose purview this
is. I don't know if it's the new SEC
cybercrime unit that crypto falls within the Department of
Justice here. The scale was just too large,
Like when when you were, you know, global politics.
There's nothing news here. Yeah, there's Reuters in three
years ago, but I don't know. Yeah, this is actually why.
Just to for our listeners, we got to be, we got to take
Beanie. I hope they keep going at it.
Yeah, I broke down one second. Sorry.
Can you hear me? Check.
Yeah, now I can.
Hello. Yep, I can hear you.
Can you hear me? OK, sorry.
I like my computer completely froze.
OK, sorry. Yeah.
What were you saying? Just we got to take Beanie Post
with a little bit of a grain of salt.
He's not, he's not always like the most fully accurate reporter
of news. So we'll see.
Like we'll wait for some more sources to confirm this.
But again, yeah, that wouldn't surprise me.
It helped. Yeah, definitely.
From this. OK, I think I am bugging Jesus
Christ. Hold on, why is this doing this
to me again? Fuck, I can't catch a break.
Do we have a are you, are you hearing me in lifetime or in
like 10 seconds of like you're? Like a war back.
Yeah, yeah. OK, I'm going to be fresh, but
what else do we have going on? Tyler, I'm going to be fresh.
Don't you bring the next topic there's.
Not a whole lot else. There's a big saga with Kanye
West this weekend. We don't need to spend a whole
lot of time with it. It does seem like Kanye has, if
he didn't sell his ex account, he has at least turned over
control of his ex account to someone else.
The reports were Bark Media. I am like, we don't know that
for sure. People were kind of dancing
around that this morning. It was like over the weekend he
was following folks, he was following CZ Binance and then he
started following Bark and now he doesn't follow anyone.
They were complain so there's there's now only three posts on
the whole timeline so. It's only good.
On maybe it was just an attention stunt, I don't know.
Like clearly they got a lot of attention over the weekend.
The odds have been launching a coin by Friday, now down to 38%.
Really. Down from 70%, which again that
that's just by this Friday. So that's the, I'm sure the
market would be a little higher on any timeline.
I think the good news here for those who are worried that this
might just like nuke the markets even more is like, I don't, I
think the appetite for this is, is going down by the by the day
quite quite a bit. It's crazy how viral this went,
huh? This weekend.
There was like nothing else going on.
It's like this was the main story sadly like.
I yeah, I mean, this Poly market line you shared was interesting.
What do you think happens? I think they're still going to
launch a token. Honestly, Loki, like I I don't
know, dude, like. What's tricky about this
Polymarket line specifically is that it has to be confirmed to
have been launched by Kanye himself.
And now I think there's there was enough questions about who
was control of his Twitter that if it's just launched from his
Twitter, I don't know if that's going to resolve to yes.
Wait, the market's gone? Oh, no, it's there.
I'm sorry. It's there.
Sorry I couldn't reload it. So I think that's partially
driving some of the sell off too, is that even if a coin does
come now, like it could be unclear that it's from him.
Folks that think that maybe he sold his Twitter for $20 million
and then the people who have the control to Twitter are going to
launch the coin. But Kanye might not even get a
cut of that. So in that scenario, is it
really a Kanye coin? Yeah, I have a hard time
believing that he wouldn't get a cut at anything that launched on
his brand. But you're right.
I mean, The thing is, I mean my shit, my pasta went viral.
I love that that was a good one, But I they ain't getting any
yaps for that. I I got to check my Kaido
because that there was a lot of reply.
I hope I'm not like banned from yapping now, but but I I don't
know man, this whole thing is so I got yeah, I'm getting nerved.
I'm getting 0 earn 0 yaps now. It's it's tough out there, man.
I'll say I don't, I don't think they're nervous anyone.
Yeah, it's just been a very tough.
I'm banned from yapping. Ben Zhao got like he he got 5000
yaps in 2 days. That's wild.
That's actually wait, what? 56 yaps?
Oh, that's crazy. I went viral a few times.
I think they didn't like my post.
I'm not the Apple line anymore. I guess.
That sucks. Damn it.
Thanks, Jesse. God damn it.
Anyways, besides that, I think it's a good rap.
I mean, besides the news that you know by bit got the funds
back on the Ethereum side, I think.
I think that's about it, right? That's it.
It was a pretty quiet weekend. Yeah, thankfully.
So hopefully the market stands. You know Bitcoin's about to
breaks up 94 here, so Onsfield's very sold ETH is at 2650.
So we'll see where another day in this beautiful market takes
us all right well, I think we're running around the horn.
That was a great first day back. Yay bull market another day that
is police Carmel always post something there's another day in
the golden bull runs like everybody's just like fucking
you know super depressed and showing the timeline anyways, we
still building keep your head up everyone, keep your head up all
right, because if you if you show up every day then you're
just going to win over time all right and you were never meant
to win over a day. So if that's not how the game
works and with that, with that, with that, we'll see all
tomorrow morning, 10 Eastern Time, Eastern Time for another
episode of football. We're on radio.
Let's go.