Oh, yo-yo, what up? What up?
Good morning. Good morning, GMG.
Oh, I know what day it is. My favorite day of the week.
Thursday. I love Thursdays.
Always my favorite day of the week.
Thursday, Thursday. Thursday, May 30th.
This is last day. Oh, no, no, there's 30th.
One day is in May. All right.
Thursday May 30th 2020 I feel like Wolverine you know 4 442024
look at that another beautiful day to have a beautiful day.
I got my Co host in the house, Tyler Mando.
How you guys doing today? I'm doing awesome man, how are
you? I'm thriving, dude.
My sleep score, my aura ring. See, I still have this thing two
weeks in, Still there, still there.
My readiness this morning is 85% dude, let's go.
Woke up ready to go. My activity 87, my sleep was
optimal 90%. Look at that 90%, Tyler.
It's a big day. It's a big day and and the Tyler
D household broke. My son is graduating from pre-K
pre kindergarten. So he's got his little
graduation ceremony tonight. So we've got we've got some.
It's a big day. How old do you have to wait?
pre-K is like four years old. Four.
He's 4 turning 5 this summer. Yeah, exactly.
Maybe I'll do that. Maybe I'll do the the 4th.
Thing congratulations, Tyler and and and baby Tyler.
I think that's awesome. That is really cool.
Wow, four years old. Your kids like what, three and
four, right? Or something like that?
That's right. Three and four.
Damn, that's young. That is young.
Dude. I'm like all my friends are
married or have kids. Dude, I am like, I have a lot of
pressure on me right now. I have a lot of I'm like fucked
right now. I was like, I, I get my
girlfriend's giving me like death stare right now from under
the stairs. I'm just kidding.
She's not home. But I'm under a lot of pressure.
I already, I already have a baby, OK?
I mean, two of them actually with Ruggedo and the crib.
So I also have children. One of them's three years old
and one of them I, I adopted him.
They're seven years old, you know, so seven and three.
That's my kids. That's what I'm going to tell
people now. You know, I got two, I got two
kids. I got two kids anyway.
Yeah, exactly, exactly, exactly. Anyway, tell the show today,
today. So what do we got?
What do we got? We got Bitcoin, crypto, macro as
usual, daily market report. We'll talk about a bunch of
stuff, you know, CME, no plans a tougher Solana futures, but
there was some good news coming out of consensus for Solana
yesterday. So you'll have to see that.
The layer zero and the other stuff that we talked about on
the show, PayPal, you have, I mean Gemini recovering $2.2
billion for earned users. You'd love to see that.
So those are good news. Even the Mount Cox thing we
didn't talk about yesterday, but it shows that there's going to
be like a payout coming very soon as well.
So between this, that and FTX, it's got a lot of money going
back in the hands of X and or present degenerates.
So you'd love to see that for for sure, for sure.
I mean, did you have PayPal launching crypto credentials
pilot for for beat Bitcoin? You have a lot of stuff going
on. We didn't talk about Ryan
Salameh, but fuck em and and then yeah, say doing our job
blah blah blah. All its memes and dreams.
I mean the celebrity thingy continues.
Seems slash seems to be coming to an end very fast the last
three days. So we don't really have to talk
about it too much. I know yesterday's show was
heavy about it. I think we're kind of we're kind
of over it this and that there was Pac-Man, PAC Moon, sorry, V2
though, launched yesterday. Extremely impressive.
So we should talk about that a little bit on the social fight
side. I thought it was some very, very
interesting integrations of of a few things.
She really like it. I know, I know Tyler, you're a
fan too. I know OV and the whole red
guys, Mando, I mean, OV's literally leading the red guys
to the top of the leaderboard on PAC Moon.
There was a moment yesterday, I took a screenshot post.
It was like 7 out of 10 people were like, oh, red guys.
Yeah, absolutely love to see that.
Shout out to Burn Dog. Burn Dog was number one for a
whole one minute. So, so really happy for our boy
here. Where's Bernie?
He's usually listening right now.
He's catching strays. And then, you know, runes.
Runes, baby hot. You know, in case you didn't
know, there's a rune right now that has a market cap of $670
million. OK, that is like, right.
Like, they're poppin man, though.
You love to see that. My, I love that I've watched my
pups AirDrop go from being worth a quarter million to 20 grand to
760 K again. So it's like it's been like I
and I'm holding I'm, I'm not touching anything.
Actually, I don't even know how to sell it.
So don't worry about it. But that's.
A good thing. That's a good, it's a feature,
not a bug. But anyways, it's it's been like
the roller coaster, but I'd love to see that coming back.
So would like to talk about NF, TS, ordinals and all that.
And then of course, Tyler. Tyler, I'm sure has a top five
for us and a lot of things to talk about.
My last but not least, this show is presented by Moon Pay to buy
and sell crypto with PayPal. Hell yeah, download the Moon Pay
app and then fair side network on X fair side network wallet
coverage for drains, scams and more.
Honestly, now I get it. Now I understand why Moon Pay
got us to be powered by them and PayPal for this month.
It just hit Paypal's like just like hitting fucking news on
news on news like they had the moon pay integration not long
ago with all these coins. Now they got this like whoop,
look at that. Now they got this.
Now they got this, this, this Solana integration.
So anyways, love to see that. Anyways, without further ado,
why don't we get right into it? We didn't talk markets
yesterday. So Mendo, let's hear it.
Can you dig it? Yeah, So bit of a wit week I
would say. I continue to be surprised that
we have been hit all time high after all of last all of last
week's headlines. It really did feel like we were
going to go a lot, lot higher this week.
You had a little bit of nervousness around obviously
Mount Cox which has billions of Bitcoin that it will have to
sell. This has kind of been hanging
over the market for years. It always seems to be delayed.
But they did move some wallets this week and that that caused a
bit of a sell off. And then yesterday, I don't
really know what was causing us to go to go lower, if I'm
honest, like stocks didn't have the best day.
The the they fell very slightly from all time highs, at least in
tech stocks. And we have we have an important
piece of data tomorrow in the Fed PC inflation.
But yeah, I continue to be surprised at how weak we've been
trading, or at least that we have just stuck around in this
range, right? We've been stick stuck around in
this in this in this very, very narrow Bitcoin range for for a
long time now. And I think people are getting a
little bit bored, a little bit frustrated.
And that's probably why we're seeing so many fights on the
timeline again and everyone having very green views because
we're just a bit bored and no one's really making big.
Bored. Insanely amounts of money.
So that that's my general sense of things In terms of like the
big headlines you saw the S1 filings by BlackRock yesterday.
It does look like the ETF will now be either late June or early
July. You saw the CME come out which
is the Chicago exchange for futures essentially and said
they there was no immediate plans for a Solana listing.
Part of that was to do with, it was said it was to do with the,
the, the outage that Solana had, which I think was very, very,
yeah. Like they, they mentioned that
that was potentially one of the reasons.
We'll we'll wait and see. But yeah, that's, that's clearly
there is an impediment to a futures ETF.
Like you can't really have a period where the where the
exchange is down. No, that's, that's that actually
makes sense. Like that's totally fair.
And I'm talking about as a back holder.
Exactly. So they came out and said that
Solana hasn't really reacted to that.
Like if anything, it's been kind of Solith has been rebounding
slightly over the last over the last period.
I would say you saw most of the top meme coins kind of had a
little bit of a mini top when all the celebrities started
coming in with a hit four and then dropped about 20%.
Pepe dropped. Similarly, all the ETH meme
coins which have been running all, all had a bit of a bit of a
decent sized drop, I would say. So, yeah, we just had a little
bit of wind come out of the the sails of of the meme market,
particularly in the top bits of the market.
Obviously we've seen, and we'll probably get into it like dodgy
activity has predictably increased for a range of
different celebrities who've come in.
Yeah, we haven't really seen an increase in quality there.
It seems like if anything, you've just seen a decrease and
that's taken a lot of, I don't know, attention in the attention
economy game. I think PAC Moon was has done it
best in terms of getting that back.
But yeah, that that's kind of it.
It's been we're back to range bound market I'm and I'm
surprised about it. Can I ask you something, Mando?
So what do you what do you think of this?
I, I've been just staring at the Bitcoin chart.
I always have like a ton of charts hoping which if you're on
video and reminder, we're on video every morning on X on the
formula, our account, my account, Tyler, you know Mandos,
you can find it. But what do you think of this?
I find this really interesting. For me, the most interesting
chart in crypto is the Bitcoin one right now.
Like we've been range bound for three months now.
So since March, March 3rd to March 4th, we had this $5000
candle to 67 K and we've been really ranging in that 67 K
average, you know, for for a while now.
Yeah, we did have a bull market pull back normal to 56 something
when everybody's freaking out, but we're just, we just went
right back to like that exact same range while testing 70.
What do you make of that? Does that mean anything like 3
months of range to 90 days of pure?
Like soon, I mean, in four days it'll be three months of pure
range because I think that we're hitting $80,000 in June.
I, I think we're about to see like a ridiculous candle after a
range like that. But what usually happens in that
sense? Or could we just chop like that?
It's all. Like we could, we could chop
like that for for the rest of the year.
Like, I wouldn't, I wouldn't personal.
Opinion on that? Like, do you have you thought
about that at all? I mean, my past opinion is what
I said, which is that I am very, very surprised you haven't hit
all time high with the state of the capitulation in the US over
crypto towards pro policy. So, yeah, I'm, I have been very
surprised about that. And I, I would have expected us
to have gone higher, particularly on, on Bitcoin
performance has even been confusing me.
Like I, I really felt like that would just just keep going.
But yeah, that's, that's been a little bit, little bit weaker
than I expected. I, I am massively bullish on, on
crypto. I I've also been massively
bullish on crypto and been in ranges for, you know, months and
months and months and months. So sometimes you just learn to
have a bit of patience in the space and that is that's
relatively important. That makes sense that, that
makes perfect. I was just curious cause like
everyone's so focused on like, like while this week everyone's
focused on like celebrity, this celebrity that I took a step
back to just look over all my positions, My Portfolio and just
looking mostly majors and stuff to see where I'm at.
And so I just, I just thought it was interesting.
Bitcoin, I mean, look at the weekly, it's looking so nice.
But look, again, charts may mean something can also mean nothing.
So, so I just thought that was a good thing to point out.
I think we forget 'cause we, we're in the trenches every day,
but you forget sometimes that like literally Bitcoin's been
the same price. Like while people were freaking
out around May 2nd, beginning of the month when we went down to
the 50s, like the price has been unchanged, bro.
Like literally look at this whole period here, unchanged
since March, since March 4th. So so maybe four, like maybe
June 4 we see a $10,000 candle. You know what?
Book it. June 4th my from my mouth.
One that's 71 to like 71213 area on bit Bitcoin we've touched it
about. Half.
A dozen times. Yeah.
Like it's, it's. That's the main point of
resistance. It's literally right there 714
like it's well, I mean, that's on cracking for us with like, I
don't know, maybe other exchanges are different, but
literally this exact bar here that we kept hitting.
We've hit that. We've crossed it once 23456789
like you're like you're at a dozen times like those are daily
candles. Let's try to hit that and go
above and seems to be slapped down.
Tyler, Mr. Chicago, Mr. Chicago, what you guys doing on CME
Fighting my Solana bags Don't want to listen to futures.
I mean, you, I I know you're in Chicago.
Why can't you go knock on these people's doors and try to make
something happen for us? I, I saw a take that we weren't
going to get salon futures basically until the next cycle
and just kind of reflecting on ETH and that it just, it just
needs more time to build the foundation.
So that makes sense to me. The biggest law of news to me
that we haven't talked about is PayPal.
Did you see the the quotes that came out of this this PayPal
announcement when they did their their?
Statement, point of quote. Why do you expand on that,
Tommy, please? Yeah, let me have a post about
that. Or with the quotes.
Yeah, I featured it in my newsletter this morning over at
at newsletter.luckytrader.com. So you can find it there.
I, I also post it's, it's my pin tweet as well.
But, but basically, I mean, the news PayPal officially launched
its stablecoin on Solana yesterday.
It came with a, a series of bullish quotes from their, their
leadership and, and executives. So PayPal senior vice president
of blockchain Jose Fernandez, and I'm quoting here.
Ethereum works well enough, but if you're interested in retail
payments as we are, basically you need at least 1000
transactions per second and you need transaction costs in the
pennies, not in the dollars. It goes on from there.
So this is from the announcement.
Again, I'm quoting. Solana has emerged as the
leading blockchain to run tokenized transactions and it's
ideal for Pyusd as it continues to be used for payment use
cases. The Solana network speed and
scalability make it the ideal blockchain for new payment
solutions that are accessible, cost effective and
instantaneous, but broke. It's not just speed that PayPal
is looking for and praising here.
So the Solana token extensions were actually a key component of
the choice. So this isn't, this is including
their confidential transfers that allow some data to be
hidden in transactions. They're transfer hooks that
allow programmability during token transfers and then memo
fields. So speed, confidentiality,
programmability all on Solana. Dude, so I saw UDI actually, I
shared that. Yeah, they actually went viral.
His tweet, he's got 400,000 views.
So I, I knew about the confidentiality thing through
UDI. He said, OK, this is wild.
That's from UDI. PayPal just launched his PYUSD
stablecorn on Solana. He goes, yeah, I know, Jan, but
it seems to have a privacy feature they call confidential
transfers that hides the transaction amounts of
transaction. This sounds a lot like
confidential transactions, a feature Bitcoin devs have been
Larping about for almost a decade but never built.
And you're telling me PayPal users will have it first, LOL.
And you know, he he does have a point, right?
Where like, the transparency of the blockchain is awesome.
But, and that's the question I'm going to ask myself, should
everybody know what everybody has?
Like, are you comfortable? Like would you be comfortable,
Tyler Romando, that I know exactly how much you have in
your bank account? Or that's a that's been a long
known issue with crypto actually 100% a post for years saying we
need to add some level of privacy.
And you had, you know, as a response that you had the
privacy change which came out Monero.
They all, they all have since
basically been banned by the major exchanges because they
don't like, they don't like privacy when governments can't
see it. So we will have privacy, I'm
sure on chain, but I think it will be privacy where the
governments are able to see it. Yeah, I mean, yeah, yeah, it's
just like it's just interesting, right?
Like even all the payment methods on chain, everything I
think like this, that was always like this like one thing that's
like not right with crypto in the sense, right.
I love the transparency and everything, but I think it's
weird. So Tyler, that's some really
solid news. There was also well for us what
Solana followed me yesterday. I just want to announce that so
shout out to salon Yeah, I got the follow back from from the
actual int account Yeah shout out to a new intern.
Thank you very much. Thank you very much.
But that was the big breaking news.
I know we glanced over it, but PayPal USD stable cognition by
Paxos will leverage Solana and token extensions to serve over
30 million merchants. And also if you want to buy
soul, well, little plug, you can now the Moon pay app that's for
you. Keith Tyler was what else was
there? There was also layer 0
announcement from them, right? Yeah, Layer layer Zero also
launched on Solana yesterday. And I mean, this is perhaps now
it's just to negative news, but we saw the all the celebrities
that, that all that, that all took place on Solana.
So I mean the action is, is on, on Solana right now.
I mean, ETF has the ETFs, but it feels like all the momentum is
over on Seoul. Yeah, this is, this is, this is
really, really interesting. So I absolutely love to see it
on the Solana side. But yeah, those are those those
are like the major, the major stuff happening on the on the
macro level. Price just looking good to me.
I like being range bound. The kids can play, you know,
memes this and that. I'm not even talking about just
like the celebrity. I'm talking meme coins in
general. Like a lot of them are doing
good. I've seen Mando you've you've
had quite the you've had quite the last few.
We didn't really get to talk to that about that yesterday.
You had quite a weekend and week, huh?
How does it feel to be back on top?
Wait, we're not, we're not. And we still got so much to do.
Yeah, like, yeah, crazy, right. And we actually, I remember
speaking on my show on Thursday. Was it?
And you were like, oh, how's it? How's, what was it like being
it? Was it like being like $4
million as a meme coin? And I, I said, look, it's just
been this one on. There's one guy.
And there was Bob Farnbury in the first period of that move,
which destroyed the chart. And then luckily when that
stops, you know, you keep you just have a little bit of luck.
You know, you have a little bit of luck if you if you if you're
if you can grab attention and you've been doing cool stuff
even during that period where it goes down.
And luckily, I just think we had a bit of luck.
It suddenly caught a lot more people's attention.
And yeah, I think it's in a good spot.
Like I like the meme. And we've done a bunch of stuff
since then. Like yesterday we launched a
meme point, a meme generators. If you go into the site, if you
go onto, go onto Epic now. It's epic.co.com.
That's your website. Yeah, but then click games,
games in the top left that. Always gets me.
Holy shit, you've built three games?
This guy's built more games than like than most companies that
raised like $20 million. Dude, the.
Meme Maker. Now go to the meme maker.
Let's see this. How does this work?
Well, I'm not going to choose, don't worry.
Just just. Go random.
Now just here you go, I'll choose the photo name all.
Right, then do random. Just hit the random thing where
you'll just blow the image. Yeah, so it makes.
And you get you can. OK, I see.
With text, OK, we're going to add a ton of different
characters with a dealt with different things.
That is terrible. That is so funny.
They're actually funny, though. They actually make sense.
I thought it would be hard to, like, generate memes that make
sense, but it seems like that's funny.
Menda's working. Menda's been working.
Yeah. I think my take away from
watching this Epic action and I think it can be applied to the
whole market, right, is you just you can't miss the updates like
for these tokens that you have conviction in.
I mean, Epic ran up what, like 5 or 6X in a four or five day
period? And if you're like, oh, I sold
it, but I'll buy back, you know, next week or something and
you're off on holiday. Guess what?
Like you, you missed the entire like this entire leg up.
And of course, like a lot of us are still bullish that there's
more room to run. But it was just like an MTS,
like the UP days are so violent, you just can't miss them.
You know, I feel like we're at the cost of that though, right?
Like I, I feel like we're, we're, it's, it's like it's,
it's, it's starting to like happen.
We'll see in, in what form, whether it's new coins or NFTS
again and what not. But like, I feel like, I feel
like we're, we're at the period where, where there's going to be
like an aggressive like it was literally around this time two
years ago that it happened. It was a summer thing where like
things just just it, it happens out of nowhere.
It, it'll hit you randomly. Like Visa bought a punk last two
summers ago, 3 summers ago. And then like punks went to half
$1,000,000 over like it, it was really like, it was like from 40
ETH to like 100 something ETH worth $500,000 in like 2 weeks.
That's the thing. That's why I'm like, I just want
to be locked in honestly. You never know when you have to
run to your computer or to your keys and just have to buy
something or or sell something into liquidity.
Because this cycle Dashante Naveen, founder of Tari TTMR,
take the money and run. He learned that from Bon Jovi.
Actually, fun fact, TTMR, remember those those this
acronym TTMR take the money and run this summer.
Anyways, Justin as well. And that's cool that you, you
you covered that as well on the macro side, Tyler MasterCard
launches crypto credential pilot on Bitcoin.
One thing that's been really cool MasterCard and and we know
the guy at at on the web three side of MasterCard, great
person. Actually, he's been a listener
of GMNFTS, Mando since GMNFTS, then GM Web 3, then FOMO Hour,
then the second narration of FOMO Hour.
Tyler, So been listening for a long time.
He's good friend, he's awesome. So Mastercard's actually been
dabbling in the space for a very, very long time.
They announced the Other Life Munpei partnership the other
day, and now it looks like they're in getting involved in
Bitcoin. Tyler, what's going on that
front? Yeah, they're all not these
aliases concept is you can it's easier to to send payments to
someone via their name. So I can send it to Foroque or
foroque that that Bitcoin or whatever your handle is versus
your wallet address, which is always going to be a hassle and
you're super scared that you're that you're doing it
incorrectly. It it hasn't rolled out super
far. I think it's on bit me, it's on
a few other exchanges, but I mean the core concept, you know,
makes a ton of sense, right. It's similar to to ENS and it's
just gonna. Make ENS that's a.
Little easier. So is it dot something?
So they're not. So is it that they're not even
using ENS? Like they're not using ENS or
dot XBT or dot BT like it's just their own?
Yeah, you're gonna set up your own credential with MasterCard.
Isn't that bearish ENS and all the other domains like question
to both of you, like Commando, you were big.
Like you had three digits with OV at some point and we talked
about ENS and we were bullish on it.
But like, isn't that like super bearish for all that?
I wouldn't say it's super bearish.
I still think ENS, you know, ENS is linked to Google Now You can
Google search people and stuff like that.
Like ENS is not not doing integrations.
Yeah, but like there will be. Upside is now no longer like,
oh, we're going to get integrated in the big companies.
No, the big company is not integrating you.
Well, it's just, it's really just again, it's like a web two
way of doing it. Your ENS you own, right?
It's your, it's yours, it's Rev. I actually for 100 years now.
All this is is just your MasterCard account is just
linked to that address. So like it's it's it's just like
cash app essentially, but that done that way.
So I don't think I think this is yeah, going off to maybe some of
the ENS market share, but I think ENS is still going to have
a core group of users who want to have custody of even their
own identity, right. They see, they see ENS as more
like an identity thing than just a, than just an integration for
for a for payments. Yeah, OK, well, that's I thought
that was interesting, like more adoption.
There's there's so much cool stuff going on like across the
board at the moment on the space.
Like it's easy to like get sucked into like the attention
thing of the celebrity coin, whatever for four days.
It's cool to talk about on one show like we did yesterday, have
a broader convo. But like there's actually like I
wrote about this, yes. I'm like, dude, everybody loves
to get sucked into something, but look at like it's like look
at look at that price action on on, on other things.
It's really awesome. So I'd love to see that anyways,
Tyler, Tyler, what else? What else you got?
What else you got for us? I'm actually curious to see what
your what your big, big topics are today.
What's? What's going around?
Yeah, I think the biggest other news.
Hold on, hold on. I I every excuse I have to play
your intro, I have to take it because it is a banger.
So I was thrown off because you didn't play it.
So let's roll. Tyler one don't you gave us your
top news of the day four Jelly NFT and crypto analysis Tyler
did on FOMO. Our calls.
The kid can't. Bring the back some bears top
story. Arguably Biden.
The Biden administration is reaching out for crypto advice
and advisers in a major tone shift from where they've been
over the last months and and the years.
And now the Biden token over on ETH has pumped in its wake.
So we're seeing more political meme coin action driven by real
politics. The other big news today, it's
all a blast. So blast shared gold
distribution for only 10 million gold versus 15,000,000 expected
distributions to the dabs, largely in line with most
expectations. But it did lead Sam Stass now to
raise his gold price estimate to, I believe, the $7.40 or so.
No way. Raise those targets and then
this also Pac-Man Pac-Man introduced the full detail
behind its new social validator concept.
A new twist on their tweet to earn model where validators like
creator tweets instead of the core team.
The market liked it. That PAC token jumped about 12%
on the day to $50 million market cap.
Another cool but maybe overlooked story is is happening
on Blast is out of Blast and Pepe.
It's a new collection. It's launching with a floor lock
feature. They're calling it Flock.
It enables minting with 0 downside in their words due to
the mint proceeds all going to the LP.
So if mentors don't want the NFT anymore, they'll be able to get
their money back out of the LP. Those are the big round up on
blast. But runes?
Runes are back. Some would argue maybe they
never left, but Dog Dog is quite literally going to the moon.
It passed a $700 million market cap.
I think it's 7:30 at peak yesterday.
Or right now. Wow.
Yeah, RSIC pumps 30%, several runes jumps 20 to 40%, some of
the micro caps. So cats in the sats is up 120%.
This mega token up 155% on the day.
So there's big action like this. This is one of the hottest token
markets to trade right now, and it's over on Bitcoin.
Yeah, dude, it's, it's happening.
I mean, there's a, there's a pretty big resurgence here on
the on the rune side. I mean, the dog, that dog one is
crazy that, that, that dog Ruin is really pumping hard $708
million market cap that position.
On this trade I I I so whiffed on it.
So I, I have AI still hold a a fairly large RSIC position and I
had 20 of the NFTS for like the entire time.
And I had a couple runestones which led to the dog token.
And I had a conscious thought, should I diversify hedge my bets
here in, in 5050 split with runestones And I just didn't.
And, and I picked my horse and I mean, dog is the clear winner
right now. It's three.
You're like me and and pups right?
Like I picked my horse, which I have some RSI see, but I'm much
larger on pups which actually where is it?
The fuck It was here yesterday. There you go it's at
167,000,000. It's not bad.
It was up. It's up a lot from where it was,
that's for sure. It's back to the level.
It's back to like the pre Arthur Hayes on some level, you know, I
think you don't. Forget like I mean it.
So I I was somewhat early to pups.
I bought in at like $3 a token. It then went to 20 to 30 and
then initial and some pump and then it went to 90 in the in the
Arthur. It all happened in like 3 weeks.
I didn't. Sell them then.
It's probably, I mean arguably one of the biggest parabolic
rises we've seen from any token this year.
Perhaps Turbo has it beat now, but I mean, it was just an
insane run. And then it all just is The
thing is like it's still up 5X from where a lot of like the
earlier folks bought it. If you bought pre Anthem, you're
still up very nicely on the trade.
Now the question is, is it ever going to go back to the the
Arthur Hayes pump heights? It's hard to see that path
upwards unless like everything just levels up massively, which
I guess is still an outcome on the table.
I mean, I I think it is I mean, I think it no.
Will it go back to that pre level?
I hope so as a bag holder, will will it go like will it do well?
I think it's still looking good. I mean, what happened is that
you know, you have you have, you know, kind of like all the other
chains like you have dog doing really well on the rune side.
She always have that like that one that needs to carry the
market up. Clearly it's dog in that over
here you also have runes like RSIC that's doing really well,
etcetera. So you have all the other ones.
And so I think it all depends. There's a there's a just if
you're a holder, you got to make sure that you're you burn
there's like on the pups thing, make sure you burn the the
ordinal to get your to get your your runes.
Is it there's a limit, right? They're going to.
Do it soon. I don't know the exact I I think
I it may even be like June 3rd so.
Yeah, and what's coming up? It's coming up.
You know, 'cause I had to spend the weekend consolidating.
Dude, I had so many wallets and I thought that was going to take
me a while and a lot of money. And you know what?
Bitcoin transfers have gotten way cheaper.
Maybe it's because I did it three days ago before the entire
ecosystem pumped again. So like when puppets were .1, I
was like, fuck it. Like no one's trading ruins.
Like let me like move my stuff around.
So my fees were minimal actually.
Like remind me of like ETH. It was like Ethereum fees to
transfer ordinals and like burn ruins, etcetera.
But yeah, June 8th, June 8th, Junius is the deadline to claim.
So you if you had the the actual ordinal of the rune pops, you
have to do this or you're going to lose your money.
OK, So make sure you do that. But overall, it was good to see.
It was good to see Ordinals also have a balance, Tyler, you know,
seems like puppets kind of bottom there.
Let me pull up D Gen's here. But seems like we kind of
bottomed on the ordinals thing here.
What do you think? I think you have to think that
if the runes are going to level up here that we see some flow
back to the the NFTS and they still like the big four in, in
ordinal, still feel like fairly safe bets.
And especially if you compare them to some of their ETH
counterparts. And the big four, again, no
monkeys, Bitcoin puppets, Quantum cats and O&B that
they've effectively just been jostling around and they've all
been going down quite a bit. But we're up.
Puppets up 60% off the bottom, nodes up 2020%, cats up 2030%
off the bottom. So some nice movement.
We need to see more than a couple of days before we really
call this, call it the bottom's in.
But if groups keep pumping, then I think we're I think there's a
good chance that the bottom is in.
Yeah, that's nice. Mando, you didn't, was it you?
Were you the the whale that that swept the puppets or what?
I know you like the puppets. I didn't.
That was.
Yeah, it's now it's much easier to trade them, right?
It is as in Magic Eden. I like you can.
You can trade them now. I think that runes are going to
come back. I don't think anyone called the
death of the death of runes it was.
Just oh, I saw, I saw a few crazy.
Expectations. I saw a few, I, I, you'd be
surprised. You'd be surprised.
I saw a few deaths of ruins. Yeah, yeah, yeah, yeah, yeah.
I because I I dabble a bit in that part of CT like I there was
a lot of people actually called the death of ruins.
Like a lot I think crazy expectations going into it,
right? People have still done 100 XS,
you know what I mean? Like like a lot of these have
been crazy trades already and people are looking for another
100 X really on top of that, yeah, Ruins isn't Ruins is going
to be here in a year, you know what I mean?
Like and that normally will mean that everything's going to be
higher if Bitcoin now goes to 150 K like I do think that these
are going to go higher. I think it's just choosing the
winners really. I've been surprised that that
puppets lost out in the culture game to dog.
If I'm honest, I'm. Surprised all the pups and dog
thing honestly that was my. Obviously I voted my wallet and
I lost their but. But a couple of thoughts.
The Anson thing really was kind of, it just suddenly felt
chilly, you know what I mean? And like the wrong people got in
like all the. Hazel, that was a Black Swan.
That was a Black Swan event for us.
It was good why it lasted though, but we didn't sell.
Across the culture, the game here.
But do I think do I think pups could could go back to all time
high Yeah, very easy. I think it takes a bit more
time. I think what Tyler said is is
probably right there like this isn't.
I think ordinals and ruins are going to be here in the next
multiple years. And you know, I know it sounds
ridiculous, but like crypto punks, like they go up and down
all the time. And who knows in five years,
like where the where the these things could all be like they
could all build up culture all that time.
Like who who actually knows? But like there's definitely a
world in a year's time where Bitcoin puppets are a lot
higher. The tokens I'm less certain
about, but the I think the the ordinals I'm I'm I'm super
bullish on so. Yeah, I wouldn't worry there.
It's true. You should have seen it though.
It was like the death of ETH NFTS but all over again for like
ruins and ordinals last week when like pups hit like .1
nearly went sub that it was like people were dancing on their
grave. I mean, Tyler, what do you, what
do you think of that? Well, maybe we needed that.
So I think a part of the problem with pups is, well, hey, like so
many of the pups, like they came from zero, like anyone could
have bought these for for next to 0 when they first minted and
they were the underdog story and then people latched on to that
and then they started getting the air drops, which was great.
You know, they had the strongest community, they had the
strongest culture and they and some and Arthur Hayes thing
happened and they were no longer the underdogs.
Like they, they were the the clear favorite and leader.
And in some ways they started kind of dunking on other
collections. And that's not everyone, but
that was kind of an aspect of how it played out.
And the the meme wasn't as cute when they were like the number
one dog at a, at a $900 million market cap.
And maybe that's narrative falling price action, but they
they kind of needed this this arc to go back down to become
perhaps the underdogs again. What I will say, I don't know.
I don't see the puppets on the timeline quite as much as I did.
Like, I feel like they they were the ones kind of driving a lot
of the the meme coin chatter. They were kind of in all the
circles back in late Q1. You hear that puppet?
Let's go, let's go.
Let's, let's, let's bring World Peace again to to the timeline.
Let's let's get let's get, let's get that World Peace get back up
and and that energy in the in the in the on the, in the 2X.
Anyways, the other thing that you talked about that I kind of
want to double down on quickly here is pack.
I I, I tweeted about a few times yesterday.
Of course, like I get to to to participate.
It was like double the points, I think, or triple for like the
first two hours, which is awesome.
We're on the leaderboard. We're there.
Tyler, you you're up there. Tyler is up there.
He's right there number six. Golly, Jesus, a lot of familiar
faces on that board. And so look at this.
I'm ahead of Jerem Powell of blast.
Love that. But dude, honestly, like I
really find this fascinating. Like what do you, what do you,
what do you, what do you think of all this?
Like it's the way they came out with V2 where like you have the
creators that can earn for creating content that has like
dollar sign pack, I think, or pack one, whatever.
And then you can be a validator for holding over what 10,000
pack tokens and think that's what it is.
And then each like so let's say for example, let me show you the
back end of my profile. Like you know, this is people
that are validators liking my post about pack, right?
That's what it is 'cause if you click here, it's this one and
and I get to earn coins for this.
What do you think like of this rollout?
I thought it was great. Yeah, let's just all back up and
just explain it and then we'll go into some of the details.
So yesterday PAC Moon officially rolled out its V2 with its
social validator concept. With this social validator
model, creators tweet about PAC Moon validators like those
tweets from the creators. Creators earn points based on
how many validators like the post, then how much pack those
validators hold. So it is weighted and then
validators will split their daily point allotment based on
how many creator point posts that they do like.
So to be a validator you have to hold 10,000 pack to be eligible
and then as a creator you basically want the the largest
pack holders to close. Like OSF, big money is up for
grabs. So each month $1 million of
tokens will be airdropped, 70% of those going to the community.
Based on these points accumulated.
I think the other interesting aspect here is the incentives to
become a validator. So while 75% of that community
AirDrop goes to the creators, 25% is going to the validators.
So right there you have a nice little incentive to try to boost
up to that 10K pack threshold if you aren't already.
I think a few other interesting aspects of and why it could be
rolled out for other community tokens is it takes onus off of
the core central team and now into the community.
It allows for true community favourites to emerge on this
leaderboard and they've effectively built a model that
could be copied and and rolled out.
So it's kind of an interesting one to watch.
No, definitely. I, I really like it a lot.
I actually told my team to pay attention to what they're doing
because I thought like out of all the social fine integrations
we've seen so far, like so many of them have been spammy and
weird and like pushy, you know, something like this that comes
out and that's has a good vibe to it too.
Like the whole pack moon thing, like it's a good at this stage
because they've had Four Seasons, right for V1 and all of
them had like bullish on logs and this discharge looking bad.
I mean, Amanda, what do you what do you think of pack here, dude?
And we've talked about it a little bit.
You were saying on the show also like your blast exposure was
through pack moon. I know OV's obviously really
really big in that eco but. It's.
Looking good. Good, good coin, good team.
I don't think it's your classic meme coin.
I think it's. No.
It's like these culture culture coins.
We've been, yeah. I don't think it's a meme coin.
Feels more like a social fight experiment in some ways.
I, I think it's nice. I think in a in a let's say we
have a second AirDrop world, I think it would also probably do
well with gold distributions in the future.
Like, I don't think this just like dies after after the the
the the blast AirDrop. So yeah, I like it.
I like it. We like the only the only thing
is it's the FTV, right? It's it's, it's although it's
50, it's 150. Yeah, right.
And they do. FTV sorry.
I think that's that's the one thing I would say it's like it
is predicated on future awards. Yeah.
So you have to be aware that if that diminishes what keeps
everything going because it is, it is really like it's built
upon future supply being used to incentivize people.
So, but that's maybe not a question for right now.
I just, I'm just that's, that's kind of what I think it's like
you. It's not one of these coins
where you don't have to look at FTV because I think FTV is very
important for this because you have to think what is the end
game after that. But yeah.
Did you guys just see this? Go ahead, Go ahead, Tyler.
A couple of thoughts. So one, so we've already seen
the the three three version from Frintex start to to get applied
to this with like for like folks are just like shamelessly
plugging themselves and saying, I'll like your post if you like
mine. So that's a little bit of a of a
risk to the this core, like the ethos of this model.
I thought that was interesting, but I think the larger point is
there. There's so much money on blast,
there's so much ETH on blast and it doesn't feel like many of the
whales are are really ready to deploy it into these tokens.
I mean, PAC moon is basically the only token that's had much
success, reached a 10 figure market cap.
I mean, it's at 50 million, a 150 million FTV.
So that's pretty high. But I mean, other than like OSF
and the and the OG general, like I can't even name whales who
have really deployed a ton of capital into this token
publicly. And I guess this close to TGE
and with the expectations of how big this AirDrop is going to be,
I'm, I'm a little surprised we haven't seen more.
Yeah. Take.
Yeah, no, I agree, but someone has to build a framework, right?
And I think that them being that like, I wouldn't be surprised
like that more people, companies coming out and using what
they're using. Anyways, I I know the news.
I I got to talk about this for a second here.
I didn't realize because I just saw this in the chat, but it
came out like one minute before show started.
Did you now I know why turbo pumped and I don't want to hear
that it was because the artist has been pushing on other
platforms and stuff. I don't want to hear anything
anymore. It's launching on Binance with
futures. It was announced this morning.
You're I don't like this is like you're timing inside like this
is like there is that's why I was wondering.
I know no one in turbo no red. He's a good guy.
Actually he was on stage with these circumstances.
So this is not red like these are like these people don't have
any control on this. Amanda, you're muted.
This is we were all wondering who the fuck was buying this.
Maybe they got a market maker then who who could do something
like this. But you've seen you've seen DVW
on the timeline for the last week, right?
Just read, read out some of like it it.
These guys, they're all they really this, this is the move.
Look at this. OK, So on May 21st, OK, your
timing insiders had nine days to accumulate.
No, sorry, they had all this time accumulate and it was nine
days ago. They they rented up to $600
million / 9 over the period of so nine days ago to May 21st to
May 28th. So they rented up to 600 mill.
Obviously on the news it turbo dumped, I mean, still above,
it's still above $400 million. But this, this is wild.
Like this is like there like this is like it's like in it's
obvious, like it's like out there.
No. Yeah, I mean the the the, the
whole and I'm missing shock right right now.
I I shouldn't be I I didn't know the whole during that whole
pump, two things. I didn't know a single person
who was buying or trading turbo or talking about it.
And and two, no one could explain why it was happening.
I mean, usually, like we can all create a narrative around why
these things are pumping and and no one could come up with
anything. And like I was posting about Sam
stats was posting about it. I didn't see any half decent
reply on that. We know.
Dude, that it's that is honestly that is like probably worse than
all the celebrity stuff people all get mad about.
I'd rather get front run 400 grand dumped on me by a
celebrity than like this is wild.
And now I do wish I knew fuck or that was that was in it.
But I was wondering, you know, Melissa's awesome.
She was like, look at YouTube. There's a campaign going on
YouTube. I'm like, but why is it $600
million, right? Like, wow.
Well, congratulations. So I was on this this panel on
Tuesday at the NFC conference. And it was asked to us by the
host who was like, do you think AI and meme coins could like get
come together at some stage? And said Bourget, who sitting
next to me was like, yeah, like I really do think that one day
we'll have a meme coin which is like created by the AI and and
it will probably go at all time highs.
And I was like, he doesn't know about Turbo.
But it's interesting that like that is a good story.
Like it it could be an increasingly cool story in the
future. And I just thought that that it
was an interesting take by him for somebody who didn't know the
token was looking for that as a token.
So I do think maybe this thing could keep on going.
Like it's got that sort of normie thing to it that people
like the story, and I think that's where people liked it to
start. So I'm not that bearish.
No, I'm not bearish. I'm just, I just love how on the
timeline, like every time I post the charts, like, why is this?
How is this happening? And like everyone was like, oh,
because of the cute little toad. Or look at what they're doing
with the art, bro. Like art does not send the coin
to seven. I think like people need to
start realizing like art does not like your NFT drop, does not
send a coin to $700 million like that.
Like Mando runs a fucking coin. Like look at how hard he's
working. It's like you're seeing the guy
do it every day. Like, like even your favorite
celebrities, even if an A Lister came to them tomorrow, they
couldn't send a coin to $700 million.
Seriously. Like this is like, wow, that's
awesome. Well, look, looks like we missed
a dip to buy if anything, Mando, because that thing went down on
the news, went to let's find it right there.
So around 6:45 AM today, oh, look at that.
Three hours before the news came out.
Even so before the news even came out, it was dumped down
here to this level. I don't know what, what market
cap that puts it at, but it's much, much lower than it is now.
It's like what, three, 402, fifty, $300 million.
So, so that's, that's interesting.
That's, that makes a lot of sense now.
Well, case, case closed, we figure it out.
We now know why turbo went to 700 million.
There was an insider pump because they knew it was going
on Binance shit, I feel I feel liberated right now.
All right, there's that and then and then the other question I
had that I want to go back to before we close up, we shut off
here Biden. So there was the news from the
block, which obviously like everybody like have to tread
lightly, like, right, shout out to the block, right?
They're doing some stuff, but it's an it's a it's a it's a
source. That's not stocks like there,
it's an anonymous source, right? It's like could be anything.
And I, I went through the article.
It's like it glosses over it. So we're not sure.
But at the same time, it's not surprising to hear like, oh,
Biden campaign ramps up crypto industry outreach and surprising
tone shift. I have a question for you guys
on the coin side. There is a million Trump coins
like the other day when I posted by Trump and like, what coins
are we buying? I had every single bag holder on
every chain after me. Buy MAGA, buy this buy the ruin.
Buy the soul by tramp by Trump on ETH for Biden.
Is there only Boden? Who's Biden?
Oh, there is. I posted it this morning.
Go go look at the chart. Oh, so they picked the ETH one
over the solana one then because the solana one did not move?
Yeah, it's on the ETH. It's up 8X in the last two
weeks. Interesting.
OK, I did not know there was a no way that there is a there's
an etherium. Oh wow.
Look at this is a wild chart, basically went to zero, like for
folks who aren't seeing it. And then it's, yeah, it's, it's
up 800. Percent.
We bought. We bought the wrong one.
We bought. We bought the wrong Biden.
It has to be the like if you think the Trump token on ETH is
the the leader doesn't isn't that an easy narrative that the
Biden token would be the the easy beta?
Yeah. That's, that's interesting.
OK, that's, that's interesting. I did not know there was an
theorem equivalent. So do you do we think of what
that so the people flocked to ETH over Solana?
Interesting. So we, I mean, we saw Pepe,
right when Pepe ran on the ETF news it, it reinvigorated the
entire ETH. Token Market Odin did not run on
the news. It's actually kind of been that
downward spiral ever since, because they are the Trump coins
have been kind of have been kind of kind of like, you know,
overshadowing it anyways, so that's a that's a good round.
Look, I think we went around the board today.
It was good. We talked to NFTS coins, memes,
majors, news, even CI mean everything.
So so I think that's a good that's a good wrap around unless
there's anything else. I think that was it.
So we'll see y'all tomorrow morning, tomorrow morning,
Friday tomorrow already. Oh my God, wow, the time is
flying last day of May tomorrow, so selling may go away.
So everybody's coming back on Saturday.
So, so, so be ready. So everybody left and everybody,
tomorrow's our last day together.
Just just all of us in June, everybody's coming back, OK?
So make sure you pack your bags before the month of June, OK?
So and let's see what happens with that, with that, with that.
We'll see y'all tomorrow morning, 10:00 AM Eastern
Saturday time for another episode of Formal Hour on Rock
Radio. Let's go.