Yo-yo yo, what up? What up?
Good morning, Good morning GMG Monday March 11th, 2024444.
Look at that. Another beautiful day to have a
beautiful day. Another beautiful week to have a
beautiful week on FOMO hour. Whoa.
Last week was arguably I I mean you know one of the biggest
week. Actually the biggest week for
the show when it comes to to to numbers and boy oh boy am I
excited for what's going on right now.
I got my Big Brain Co hosts in the house.
OSF Mando, good morning. How are you guys doing today?
Good. How are you guys doing?
I'm doing great, man. You're doing great.
We are so fucking back. Or what?
Like, are we Are we back or or what?
Like what? What's going on?
Old time highs, baby.
Across the board, baby. Oh my Lord, oh man.
Look, I have to say, I have to say, you know, few things, few
things better than waking up on the Monday morning.
You know, getting to work, sitting at your desk, having a
nice little coffee and then Bitcoin's A72K.
I, I, I, I, I can think of very, very, very, very few things.
Oh, what are you eating there, OV?
Oh, rock. Of course there's only four hour
difference. For us it's.
Good. I love it.
I love it.
Yeah. So it was daylight.
I didn't even realize at all. I just woke up to like the
Vitalic's tweet. That's how I found out.
Vitalic tweet. Like a ballish daylight savings.
And I was like daylight savings. And I guess we.
I lost. I I did.
You guys did. I lost an hour for sleep, right,
On Saturday night because if two became 3:00 AM.
So I did and then But what's good is that the sunset's now
here at 7:00 PM hypothetically, not 6.
So it's just it's just kind of good for us.
We're still in the thick of the winter, lads.
It was it was snowing all all all weekend.
It's it was Gray. I saw all these posts about
London being like second most miserable place after
Uzbekistan. I would say that's an insult to
Uzbekistan and then and then and then but but it's not it's not
much better here OV so all that to say I am with you, you know
it is chilly here still. I still have to walk and like
avoid like slush in the street and like that gross water
everywhere. But thankfully I don't leave my
home, so you know, that's also utility.
Anyways, All right. So for that show today, today,
what do we got? What do we got going on today?
There's, there's a lot. First and foremost, I hope you
guys woke up and chose rich because the market did and I
can't. We got, we're going to have to
talk about this for a minute. We have to talk about Nick and
Nifty Portal and what's going on with that because that was
definitely what went down all weekend.
So we can recap as usual. We'll talk about Bitcoin, we'll
talk about E, you know, steady above 4K.
You absolutely love to see it. So a lot above 148 hit 150 and
all the other coins running with it as usual, you got what else
you got? You got London Stock Exchange
considering crypto ETS. OK, OK, OK, we'll talk about
that. We got Trump talking Bitcoin on
on NNFTS of course on national television and you're still
bearish and on. So this is not going on.
Poly market. We'll talk Poly market and ETF.
Chance, 'cause there was a big conversation about ETF in over
the weekend as well, whether it's happening or not.
And of course, like meme coins, all coins, a lot of stuff
running people everyday for Nick, blah blah blah blah blah.
We'll talk about that. And then last but not least, of
course, talk about, you know, NFTS and do a little round up
about what is going on in that front because wow, we are
fuming, things are going crazy. And in case you didn't realize
yet, on the bottom of the screen we have our little robot thingy
going around because we love Razor, we love working with them
and giving you guys money away thanks to them.
But we also are partnering with a generative ERC Four O 4 art
collection at the forefront of digital innovation and you can
check him out by IMCFW on the timeline shot the pilot who is
one of our new screen sponsors on the show.
So you will see them if you're watching us on video every
Monday where we are streaming live every Monday to Friday.
But anyways, anyways, anyways, without further ado, why don't
we get right into it? Can you dig it?
GMGM everyone just tweeting out the the Twitter Twitter
broadcast link. We already.
Have it? Ah, we already have it now.
Give me a minute. It'll kill me otherwise, so just
sorry. Me too.
Hold on.
Yeah, look, it was, it was a little bit of a mixed weekend.
I think like Bitcoin went up and down on Friday, and then we kind
of hang out around 68 K for a while.
And then towards Sunday night we started to to rally again.
And then we had like a bit of a correction, right?
Everyone started getting very bearish.
Bitcoin went down to 66 K EFF went down about $200.
Solana I think went sub 140 briefly and KBM was tweeting,
you know, this is it's all over. Uh oh, and then.
And KSI, KB, MKSI. What do I have in common?
Oh yeah, KSI also get involved. SI KB M starts with K3 letter
acronym. They're both short.
So and then we started to rally again.
Bitcoin took out its all time high, went to 72 K it's up 5%
again. Basically over the last 24
hours. ETH just behind it broke 4K.
It's at 4035 right now. Solana went back up to 150 areas
now, like 149. So definitely a bounce.
Obviously last week was the biggest weekly inflow for crypto
ever. I think it was just shy of 3
billion of inflow into crypto crypto specific funds.
That includes the ETFs and people are obviously expecting
very similar sort of numbers. The the ETF was very strong even
towards the end of last week and clearly like just anecdotally
you're starting to see it more and more.
It's on the front page of CNBC, it's on the front page of, you
know, most major financial news websites at the moment.
The Bitcoin keeps hitting new highs so definitely people
picking up on it. I think people were mainly
trading meme coins on the weekend and we saw a bunch of
mainly on chain things move aggressively higher.
There's been a couple of smaller ones let's say we should move
things like Floki is keeps on going fucking higher that's
certainly 3 billion now and and with I think in new high so but
it was mainly a lot of the on chain coins on Solana that we're
going crazy and we'll get into that in a little bit today.
It does feel like bitcoins dominating though again like
altcoins are slightly underperforming.
I would say as a group Bitcoin is probably beating 80% of
altcoins here. There's just a few that that are
that are still beating being Bitcoin at least over the last
24 hours in terms of stuff this week on a macro basis we have
CPI tomorrow which is the inflation metric.
There's been a little bit more worry about the fact that
inflation might be a bit more sticky recently.
So there's a even though power was doubled at the back end of
last week, so expect I would say that's a more volatile, bigger
than people have predicted maybe a couple of weeks ago.
So it's definitely become a little bit more worrisome than
that. Crypto, although it is rallying
again, is showing signs of excessive risk taking.
Funding is basically back to the highs.
Before we saw that 10% Wick in in Bitcoin to to fund a Bitcoin
along right now is 113% a year that was that's higher than
where it was just before. It dumped pretty aggressively.
That's the same kind of across the board.
ETH is about 100%, Salon is 120%.
Every single major coin is the funding has gone very high.
You know Bitcoin dipped and then went straight back up high.
I don't think this affects the long term trend.
It does tell you that pretty much every day at the moment
we're getting a Wick lower, clearing out the funding and
then we're going higher. So I would be very unsurprised
if we saw a Wick today. I don't, which is quite good
because it's not a market where you necessarily have to feel
particular FOMO when it's going higher.
But what you have to do is be disciplined and buying the dip
when it goes lower. So instead of like getting on
the momentum train, you know that you know it's gone lower
now it's going to drop, you know 20K.
It's more that you have to be diligent in buying the dips each
day and we kind of run up the excessive risk taking every
single day in between. So that's what it feels like.
There's clearly, it's clearly getting a bit frothy.
People are making crazy money on on meme coins every single day.
Solana volumes are just like unbelievable at the moment.
I think it had its biggest ever or second biggest day ever for
fees the other day. It's dominating a lot of the on
chain activity happening at the moment so that's where a
majority of the NFT action, sorry a majority of the meme
coin action is happening. I think most people have are
having up Solana shit coins on their on their charts over the
weekend like that's where people were.
It just seems like that's where a lot of the fun is happening.
The big things this week in terms of ETH is you have the the
the upgrade, the Denkin upgrade which shouldn't really affect
too many things on the L1 chain. What it's really going to do is
is affect the revenue base of the of the L twos.
I I don't know how big a deal this is.
I think it's more it's more big and then it changes the the
story for the L twos as revenue generating chains.
I think most of their revenue is going to be go up by a factor
after this has changed, but it doesn't, I don't think it's
going to aggressively bring down graph gas prices on the L1.
It's more, it more just revolutionizes the L twos as
actual revenue generating entities.
So people are getting bullish on the L twos into that.
On the other hand, there's been a bit of a weird divergent,
which I guess Obi's picking up on and I think it's the best
thing is to go onto Polymarket to see this.
So if you go on to Poly market right now and you type in ETH.
Yeah. I mean the two things I would
look at here is Etherium all time high in 20, Etherium all
time high by the end of March. That's a 41% chance of that
happening on Poly market. And yet the ETF chance has
dipped from about 75% likely in January now to 25% today.
It's really taken a nosedive over the last few days.
So there's this weird mixture. I think this is what OB's kind
of picking up on at the moment, is that I don't think that's the
right one. No, no.
That's the usual one with the lot of bets on it.
No, no. This is by by May.
I think that's the very little Etherium ETF approved by May
31st. Etherium Etherium ETF.
Let's just. Type in ETH.
ETH. And then search.
You see, I don't see the same thing as you.
That's the ones I see, yeah. That's weird.
I'll send you the link now, but this one has a lot more.
Maybe I want. You to see that.
There's a lot more traded on this one than the.
One that you want I. Put it into the firm of our
chat. Yeah, send that.
I'll show, I'll show it right now.
So. There's difference between like
ETH right now which is like a lot of people are playing for
ETH. And even in in the world that me
and Obi used to live in, a lot of the trap like people that I
used to speak to think like the alpha trade is to buy ETH into
this ETF. And increasingly it feels like
they are missing that the market is moving away from that.
And all of Tradfi media is not picking up on either.
Like if you if you listen to any one of the major interviews
going on right now on Bloomberg or CNBC or any of these major
financial news services, they're always talking about the ETF and
that went down as low as 25% earlier today.
It seems to have bounced to 30. 6 here, 3024 cents here, so it
was 20. Four and there's been just more.
I think it's they need to basically ask for comments from
the issuers and the SEC has not yet and it seems to be dragging
its feet to everyone's worried that you know they're just going
to push it and that would be quite a big thing I think for
the market at least. I I think the market thinks that
there's going to be an ETF with pretty high confidence as what I
agree with what OS FS saying, like bring up the ETF chart
after the Bitcoin ETF. It's just fucking up only.
And I think that's a worrying scenario that if you're here
every single day you're picking up on.
But the increasingly tradifying nature for our product has not
picked up on like all this. All this takes is 1 CNBC article
or one Bloomberg article saying, hey, the ETS isn't going to
happen. And I think that that could lead
to a small repricing here. I'm not.
I don't think it's bearish on Bitcoin or or on a few different
things like I mean you know we had a debate whether it's
bearish for Solana the other day and I I think it's less bearish
on Solana, at least over the medium term.
But it would definitely be bearish on ETH L Twos EVM, like
a lot of that would be bearish if that happened.
I'm not saying they would never do an ETTF in the future.
What happened last time is the obviously grayscale took the SEC
to court. That took I think a year at
least maybe even longer. This one might get thrown out
like by a judge pretty quickly, given there's already any
futures ETF, and it would be perhaps a more difficult thing
to argue, but we could be sitting here waiting for another
year or so, maybe two years even for an ETF, if if they end up
rejecting it so. I mean.
Yeah. Oh, you're fine.
You're fine. Listen, Baby's crying is OK.
I mean, she just wants to be part of the show, you know?
She just wants to teach. She just wants to, she just
wants to ETF, you know, And she just wants to choose rich that
that's it. You know, it's that's what the
baby wants. I mean, look here, let's, let's,
let's talk to Ovi a little bit here.
I mean, you made a post this weekend.
You know you seem to be quite bearish again.
I'm. I'm obviously kidding but what
are you what are your thoughts here on on ETH?
Obviously you're hitting 4K, which is awesome right?
Love to see ether, love to see ether 4K and love to see the new
updated OSF daily, daily at this point, right Quote, tweet.
You know if you're liking ether 4K, imagine 4100 and on and on
and on. What do you what do you think
here? Do you think ETF is priced in is
what I want to ask you. And second question over here is
if the ETF does not happen, what does that mean for the market?
Yeah. So look, I think previously I
thought there was maybe like a 6040 or 5050 probability of the
ETF being priced in. Now it seems like the
probability of an ETF getting improved is less than 5050 if
you read the headlines over the weekend and and the colour
that's coming out from it. And if you look at Poly market
of course, but I still think the market seems to be pricing and a
higher probability of it. And just judging by the
timeline, people just think oh, it's definitely going to get
improved. People who like bringing out all
the the Black Rock stats like the 99.9% of black ETF gets
approved etcetera. Like I get all that, I
understand all that. But we already went through all
that stuff with Bitcoin ETF. And I think you have to
appreciate that this ETF is different to the Bitcoin ETF.
And the reasons that came out, if you look at Eleanor Terrace
tweet, the reasons coming out as to why they can project this.
These are esoteric reasons that like not even BlackRock can
really contest unless they have, you know unless able to to push
things around. And maybe they are like I'm not
saying that ETF is going to get rejected.
That's definitely not what I'm saying.
I still think it probably will get approved in my opinion.
But I'm saying the probability of it getting approved is now
much lower than it was a few weeks ago and that you have to
be careful of and you have to be cognizant of.
And I'm not saying, oh sell all your wreath or sell your crypto
because of this. But I'm saying don't just sit
there being like Max bullish and thinking, oh, this is all a
given because it's not a given. We have some bridges to cross.
We have some some hurdles to jump before this can get
approved. And as Michael said, you know
suddenly if you get a few headlines coming and building
and someone gets a stiff of it, especially while funding is so
high like it isn't now and it has been someone can be
malicious and and attack it and then that can cause crypto to to
take a hit. So my opinion is a bit different
to Michael's. Obviously like ETH gets hit
badly if gets rejected. But I think you see risk off
across all alts. Like I think L twos get hit.
I think Solana gets hit. I just think it's a bad it's a
bad thing for all coins if the SEC is rejecting ETH because you
know if they I actually think if they approve the ETTF, Solana
would outperform ETH and all the all the beta would outperform
ETH. And next thing people would be
thinking is like what's the next ETF?
Could it be Solana and all that kind of stuff.
All that stuff goes out the window if he gets rejected.
And I just think you get a bit of risk off.
You get everyone who was like buying ETH for this trade or
buying L2's for this trade. They all sell.
And then people just look at the rel valve versus of the coins
and it all sells off. And yes, like if it all, you
know maybe it all sells off from on the first few days or weeks
and over time narratives can change.
If you know if Solana picks back up again, I can see that
happening for sure. But I just think it's going to
be, it would be, it would be bad for risk and hopefully it
doesn't happen. Hopefully we get an approval.
Hopefully the headlines turn. It's still early days.
We don't have a lot of information.
The deadline's 23rd of May so we're, you know 2 1/2 months
out. So and I that's the Bloomberg
lads. Like what they say seems a bit
Bitcoin maxi ish to me. Like they're a little bit like,
oh, bitcoin's great and these sucks kind of thing.
I think it's important though what what they're saying.
I think why we just why I think it's important is that there was
a big incentive for Grayscale to fight the SEC.
Yeah, right. There's a there was a huge
incentive incentive based on the fees and and the volume.
There may be less of an incentive for Grayscale to fight
the SEC on this, right? Like somebody is going to have
to take the SEC to court. And will it be BlackRock?
Would it be one of these other issuers?
They may, but their fees might not be enough for them to argue
it with Bitcoin, it felt like yes, right, it was always going
to be likely they're going to do it.
But the ETF, you know, it's going to be smaller, no doubt in
the Bitcoin ETF. So the idea that you would go to
war with the SEC and probably face, you know, hundreds of
millions of legal fees doing it, that may not be the same case
because it's not, it's not actually a lawsuit against ETH
Foundation or anything like that.
It would, it would have to be an ETF issuer decides to basically
take on the mantle to fight the SEC.
So the idea that this is going to be a smaller ETF, which is
what the Bloomberg people are saying, I think matters just
from the incentives for them to fight the SECI think.
I think it's really with the same, the same thing like
funding's high. There is no doubt in my mind
that we will see a headline about this ETTF from a major
news provider over the next two weeks.
Like no doubt there's about three or four different
journalists right now or three or four different market
watchers from major news sites who are trying to get to the
bottom of this question. And they all know they're
getting massive engagement from doing it.
So like they're all sitting there going like right, we need
to find out from the SEC if they're going to do this.
So they're going to be speaking to low level, mid level SEC
employees trying to get us a better scoop that that Twitter
feed post that we saw. There's going to be an article
very similar to that I think in the next two weeks and I would
imagine to see a flush on the on the back of that.
I don't know if that's the end of it.
You saw today the London Stock Exchange might start to offer
ETFs, Hong Kong might beat beat the US on on ETFs.
So there's headline around. It's not terminal, it's more
just Just be aware that this is now happening and be prepared
for AI would say a messy tradfy headline about this ECTF over
the next two weeks. And you know, Tradfy is like
coping so hard, they're just ready to like jump at the first
thing where they can push crypto lower.
But I think that's, you know, that's just like one risk
factor. You know, obviously bitcoins
hitting new all time highs today with 72 K ethers above 4K,
everything's rallying. But I do think like, yeah, as
prices go higher, I think you do want to get bit more cautious.
And it doesn't mean sell, it doesn't mean you know, like get
bearish, whatever. But I just think like at the end
of the day, we're all here trying to make money and holding
the right things as the price goes up is half of that
equation. It's only part of that equation.
I think people just think that's the entire equation.
The other half of the equation is like monetizing it, figuring
out when to sell and getting it into your bank account and if
it's money a lot of money that's made a difference to your life
and having that so it actually makes the difference to your
life and and not round tripping and that we're getting towards I
think you know as we have you know hit new all time highs on
Bitcoin. I think we're getting to the
point now where it's like I'm not saying getting to the point
where you just should sell but you know you should start rather
than my. My view on the market is rather
than just feeling euphoric every time we hit new all time highs
every day it's OK let me just actually stay switched on and
and be controlled and think OK how am I now going to execute my
cells and and exits the risk that I want to exit as the rest
of this cycle goes on and that could be a multi month process
maybe it's even a multi year I don't even really know but I
just think you can't do that when you're just like everyday
you're like euphoric and Max long and Max bidding.
I think you have to like take a step back but cool like I've
made this much I need this much to like live for the next year.
I need this much to quit my job. I need this much to buy a house,
whatever it is, and then like figure it out and I need it to
go up this percent. And then when it gets there, I'm
going to take off this much. And that way if you have a plan
in place because you've been thinking about it rather than
like just going too crazy with excitement, then and at some
point the tide will turn, whether it's the BTC for
whatever it is. And don't forget, by the way,
like Bitcoin ETFs are great right now, but at some point the
Bitcoin ETF will sell Bitcoin and it will be everyone's worst
enemy. I don't think it's going to
happen in the next few months, but it will happen one day where
the biggest seller of Bitcoin will be the Bitcoin ETF.
And it's going to be horrific because every day they're going
to come in and just let slash the bid and we'll have
aggressive price action on the way down like just like you're
having the way up. So you just you want to be in a?
Market as well like you? You you want to be in a in a
position where when that's happening, you're there buying
Bitcoin at lower prices at the lows because you took out some
money, you know, during the bull run and you and you you made
some you know you you profited from it.
And I just think like you're only able to do that if you're
just like thinking about things in a very controlled fashion.
And I think, you know, when people get too bullish, they end
up like buying more and more risk at higher and higher prices
and that only leads you to eating away all the money you've
made. But I think, I think we can't
have a show like this after the show with Raoul where we're like
we're like we're going to fucking 250 and like this is the
start of it. My base case is we've got a long
way to go. What I do think is that don't
fool yourself as a long term investor when you're probably
going to sell if it goes down like 20%.
Like be prepared for some nasty Wicks right now because right
now altcoin funding, even Bitcoin funding, is over 100% a
year. I haven't seen that since the
big Wick that we saw a couple. What is it just over a week ago?
I think. I think just be prepared for
that. Like if you're holding fucking
some Tier 2 meme on Solana, maybe.
Maybe that is a worrying thing in in this current country.
Because if you see a big Wick if Bitcoin goes down to 60 K or ETH
goes down to 3K on some messy headline about you know
Genzler's going to deny the ETF and Elizabeth Warren's fucking
still coming after crypto which is kind of what we're hearing.
Then you know you you kind of want to have some powder to
maybe buy that dip and buy the the the good stuff so you're not
owning fucking Tier 2 dog top coin on on on Solana.
So yeah, just I right now clean up your book.
I would say make sure you're in stuff that you would hold if
Bitcoin dropped 20% and you're not just going to panic if that
happens. And see those dips as massive
opportunities because they are, they are massive opportunities
like if you could buy a liquid dip in in here of anything
particularly like the majors Bitcoin ETH, Solana ETH.
Depending on like that, what the headline is, then I think you
can have a very, very good next month even.
I think you can be, you can be bullish that you can still, I
still believe Bitcoin will. I still believe Bitcoin could
get 200 K this month. Like as I said before, I still
think these two hundred 250K numbers or 500.
I think all this stuff could well happen this cycle.
But I think it's important. The point I'm trying to make is
like you can be really bullish. You can believe all of that.
You can believe prices are going much, much, much higher, which I
do, But you can still be cautious and switched on at the
same time. Those two things are not
mutually exclusive. You can still have an
appreciation for market risks. And I just think two people get
too much and to 1 go where they're like, oh, bitcoin's
going to 500 K and there's there's no risk in the market.
And anyone who thinks anything can happen is just stupid.
And like it's never, this is never going to happen where it's
like, OK, I think Bitcoin's going to go in and go to 250K.
But I appreciate there's some risk that it doesn't because of
this, this and this. And if that happens, I'm not
suddenly caught off guard because I've have a plan in
place for it, whether it's I have capitals by the zip,
whether it's not going to panic, whatever it is.
And that's the only point you're going to make.
You don't want to, You won't feel panicked when prices go
down. If you have appreciated that
that risk exists. If you don't appreciate that
risk exists when the prices go down, you panic and then you
make bad decisions and you don't want to make bad decisions. 100%
like, Let me put it. Let me put it a different way.
I am. I have 100% certainty that
Bitcoin will be below 70 K at least at one point.
Again, 100% certainty of that. I want to bet you a lot of money
that isn't huge. I didn't.
Mind thinking about Bitcoin below 70K?
Huge call, dude. You're like, that's a big
statement, bro. Like people, people might might
be thinking we're just going higher forever.
I I have 100% conviction there is.
There are at least 100 people out there who believe it will
never go with their 70K like. You know, it's just a 3% move,
right? Like, right.
And I'm telling you right now, everyone's like, I want to buy
it because it's going higher. I'm telling you, it will be
lower than this. It will be lower than 70 K at
some point. Don't worry about it.
You don't need to chase it. So are you guys done with like
like being bears, like it's been 30 minutes.
I'm listening to the show. You guys are talking there.
We. Go I just.
Switched off. I left you notice I left for 15
minutes for the first time in 600 episodes.
I think for 15 minutes I actually was like.
Tier 2 Dog coin on Solana right now I.
Was sexy, dude. I was sexy with Locksley.
I was like, just like reading articles on the Crypt.
I was like going through my timeline, answering people on
Twitter and I come back and you guys are still playing mental
gymnastics about being bears. I I don't understand.
Mando gets wiped once and OV makes like a bajillion dollars
and they're both bears now. Like, I don't get it.
You're muted, you're muted. That's probably a sign.
Neither of us a bearish, neither of us a.
Bearish. The last 30 minutes of this
show, you know, have been you guys calling my coins Tier 2.
OK And I'm just playing. I'm obviously playing and I
think everything that has been talked about this, this thus far
is probably the most sound piece of content you'll get today on
the timeline. Let's just put it that way,
because the rest of the timeline is US choosing Rich, the Nick
memes, everything going up, going crazy.
So I actually agree with both of you and I think it's awesome.
For what it's worth, I am only in one meme coin for the first
time of my life and it's a Tier 1 cat coin.
So that's it. That's that's actually crazy.
I mean that's if you don't count my doge longs, but like I don't
count doge as like AI guess meme coin.
Yeah, that's a major now it's a major.
I mean Doge is a major. So like, I mean hey, it's been a
top ten coin for years. So like is Doge not a major to
you guys at this stage? Like, I don't know.
You know, Major. Meme.
Major meme, You know, so so you know.
I'm going to because it's also acceptable for me to lead a doge
to $1.00 campaign on the timeline because it has way more
liquid in my following rather than going and like talking
about every other coin, right? But saying Dosha Dollar is like
socially accepted right on on CT.
So it's like I can, I can do that safely while like, you
know, doing the whole thing. Weirdly, me, me and me and Obi
even debate this because I think this is the next headline to
come. Like, kind of the no doubt in my
mind that we're going to get bad.
What do you guys? Debate.
The headline is that I think, I think something like Doge might
not do badly in that scenario. My view on on that scenario is
that you could see certain things outperform.
Namely, Bitcoin probably wouldn't do so badly.
I personally think that even in the wrist spectrum, we'd have
more of AQ4 style feeling again about Solana versus ETH.
Where if without the ETETTF narrative, Solana's just like
destroying all the volume things right now, like everyone is
there like it will it feels like the most used chain.
And then Doge. Doge is a meme coin, right?
Doge is a meme coin proof, like basically a Litecoin, right?
So it's like it's basically a fork of Bitcoin, essentially.
Yeah, there's a. Bit it's literally a book.
Bit of like emotionals, there's like DRC 20.
Like it's it's literally like a pasta.
So in that scenario, if Doge and Solana fell on that headline,
I'd buy the crap out of them. Yeah I I listen, I I I like it.
I liked it this weekend this one I, I I went in with it but
funding is very very high. I'm not going to lie that's it's
it's expensive. So I'm not sure how long we're
going to keep those open at at this rate but we don't mind it
for now. That's where I'm at personally.
I agree with you guys I'm I'm very comfortable with my Solano.
However I did lose my bet to to to board Elon.
So shout to board Elon. I need to send him half an ETH
because ETH hit 4K before Solada hit a hundred $200.00.
So I'm sending my boy. I think he cleaned up on that
bed lads. I think he bet a lot of half an
ETH with a lot of people I think.
I think board Elon cleaned cleaned today with that bed.
So that's that's good. Good for you.
Ha ha, happy for you and all that good stuff.
Actually, I can just go check his ENS city board dot ETH,
which is I should fire ENS, but I wonder how much.
Let's see, Let's see if he really cleaned the house or he
paid yet. Board Elon looks like.
I don't think he's received much.
Oh, hold on. Is that him?
Nope, nothing. Nothing yet.
Oh, there you go. Cool.
Ethereum sent him half beneath a couple days ago and he's been
winning bets all these little things.
I'm pretty sure that's him winning a few bets, so not bad.
Not bad Anyways. What else is going on in the
market? Let's.
Well, wow. I don't know if you guys are
looking at Bitcoin, but Bitcoin is running for it. 72 five,
pretty much Love to see that. Love to see that.
All the guys, Honestly, it feels so good because bitcoin's 72 1/2
and there's not an ounce of euphoria on my timeline.
No one's even talking about the price of Bitcoin.
Love to see that and you're muted again.
I think your thing's muting you automatically again.
No, I've been muting it because of the of the baby, but.
Part of a show retail. Retail is here.
Let's. Retail is, is.
I mean is retail here yet? As long as this, I don't see a
dollar here. So as long as I don't see a
dollar on this bad boy here, you know retail will not have been
here. But look, OV, look, your ETH
looks amazing. It's incredible.
I love to see. I mean look at this, look at
ETH. It it's just like I I think the
easiest trade in all crypto at the moment is like just like
ETH. You've listened to the last like
20 minutes of what we just said. Fuck This Is.
You are a frontline soldier, man, like you are just
frontline. Here, here's why you check me
out. I'll tell you why you check me
out because I genuinely I'll take the other side of it where
I actually don't care about whether or not the ETF comes in
May. And here's three reasons why so
but the reasons why are for me as a crypto enthusiast and
someone who's building in the industry.
I only. First of all, none of us got
into space because of Bitcoin TF.
But now we have the Bitcoin TF, which is like, we have Bitcoin
TF like the rest of it. Then that's where I'm like,
well, what? We're going to want a doge ETF.
We're going to Solana ETF. We want to ETF everything.
Like, OK, cool, we have Bitcoin TF.
ETF makes it even better. Let's fucking go.
Good for my bags. At least I'm happy with it.
It's going to happen, by the way, whether it's in May or next
year, it's going to happen. But does it mean anything for
crypto? I I don't think so.
I mean we got Bitcoin TFs. It's like I was, I was actually
playing poker Saturday with a bunch of your your old peoples.
So it's me and just all my tart fibros from Montreal.
They all work at banks behind Bloomberg terminals, right?
And they were actually over. You would like this.
They were obsessed with WIF. They were talking about WIF for
the entire 4 hours of the poker game.
They could not believe that a dog with the hat got to their
terminals and they didn't buy it and and they were all
complaining. Always, like all of them.
They're all like no crypto like they live behind a Bloomberg
Terminal. They're happy with that, right?
Super hilarious. But the other thing is they were
saying how they just cannot still cannot believe how there
is like 11 issuers and a Bitcoin ETF like that was like it's like
I was like while we are desk like we're still so early like
MF Ers are still like in disbelief in track 5 where we're
like on the hopeful slash optimistic probably side of the
scale, right. I don't think we're euphoric
just yet, but but you know, I thought, I thought it was funny.
So that's why, you know, ETF, this ETF that you know we'll
we'll get what we get, what we got.
I think you buy that dip. I don't think any of us are
bearish. Any of us are bearish.
I'm just saying that the market, we do this show every single
day, I'm telling you today feels like, and this week to me feels
more precarious than last week, just because of the way funding
is and because I think this story is about to break and
probably not in a way that will be done nicely.
I mean, Story's about to break it.
It's already everywhere. Like the Crypt, corn desk, like,
blah blah. Fucking everybody already picked
corn Telegraph already. Everyone already picked up on
Eleanor's tweet. Eleanor's like the.
I know, I know. But ETH keeps going high, and
I'm telling you that's because Trapfi's buying it.
They're not. They haven't picked up on this.
I don't. I I don't.
I don't. I don't think so.
It's, it's 11:00 AM in in New York.
Trapfi hasn't picked up on Eleanor's tweet, you know what I
mean? Like, she's on TV every day.
Like, I'm not saying ETA's not going to dip.
He's. Telling you if that ETF headline
breaks, it will go a lot lower. But hold on, there's no ETF
headline at the moment on Google News.
You're telling me? There's there's some things
creeping in, but I feel like it's not priced in.
Can Google it for you guys, because Canada banned news on
Google for what it's worth. That's why I'm not sharing it.
Got to love. Here we go Forbes.
A day ago, just the beginning, Bitcoin suddenly hit 70K price
tipping point amid Etherium and XRPETF speculation.
XRPETF, come on. You know what I mean?
Like this is where they are. I know we are starting to pick
up on a tweet. That's fair.
On something from Yes, that's
ETH. 22 hours ago Two hours ago from trading view ETH next in
line for an all time high price with the potential Ethereum ETF
approval on the horizon. Tweet two hours ago.
Dude, Eleanor's tweed has 487,000 viewers and she works at
Fox. You're telling me Trad Media
didn't pick up on that? I'm telling you, you're about to
see a headline, probably from Fox News, Fox Business, and then
it will go fucking live. It's.
Not on Gu. It's actually not on Gu.
If you Google ETF and go to News, there's not a single
article. I wouldn't know.
I can't. I literally like so.
We in Canada have banned, tried like I can Google News and I
can't read like CNN and all that stuff.
I can't even open their Instagram accounts.
It's illegal in Canada to read news.
I'm not even making this up. Trudeau, don't ban my Please.
There is. There's one.
There's one headline Senior ETF analyst unimpressed with the SE
CS attitude. OK.
So there's nothing, no you would you would be like there would be
20 if you were to look it up like and it was out like I get
it, you're, I agree. OK, you're right.
Like there's there's nothing much then because usually it's
like all of them, right. Bloomberg first.
Usually it's always Bloomberg. It's Bloomberg.
Bloomberg. Haven't decided yet.
Balkunis and I forget who James Seifart right?
They haven't. They said initially they thought
it could be around 70% but they failed to give any percentages
and. I reckon on our show.
I think he said even he's at no. He said above, he said above 50,
yeah, yeah. So it'd be interesting to see
what they say here. They could decide to do an
article or. My guess is that Fox, we'll
decide to do some form of an article or or that's probably.
Because Eleanor Teret is is that.
Right, exactly right. So we'll we'll see all that.
All you're saying is gonna be a wipe on leverage.
And just like if you're spot, though, it doesn't pertain to
the listener. That's not trading, that's on
spot. Like it means nothing to him,
right? Or her.
Like, oh, there you go, James. Safe the theorem just now
because I have my notifications on for the guy The Theorem ETF
cycle feels like the opposite of Bitcoin ETF approval odds at the
moment. The more we see here and don't
see here, the less optimistic I've become.
We're about 73 days from the deadline and there really seems
to be little to no movement. Yeah, Eric, he quote tweeted
Eric's tweet, which says he he his probability is now down to
35%. Five.
Percent. Yeah, 11 minutes ago our odds of
ETF approval by May deadline are down to 35%.
I get all the reasons they should approve it, and we
personally believe they should. But all the signs and sources
that were making us bullish 2 1/2 months out for Bitcoin spot
are not there this time. That's that's what he said.
There is really important because the comments that I got
back yesterday was like, oh, BlackRock this or they're
definitely going to approve this or grayscale this.
And Eric is not actually making a commentary on if they should
or they shouldn't approve. It he's not.
Yeah, exactly. He's just making a commentary on
the signs that you see from the SEC, which tells you whether
they'll approve it or not. You you see what I mean?
So he's like I I've seen different behaviours or patterns
or characteristics or data points really.
Interesting to me because they previously these would be
articles on Bloomberg, right? There would be articles on
Bloomberg. I remember seeing them.
Twitter, bro. It's the place, right?
Right, Bloomberg, maybe own news terminal, right?
Like this is going to be a story.
Maybe it's. Going to be us.
Maybe We're going to be on Coinbase.
Again, we are we hey, let's go, let's go.
Coinbase or and? Then they're going to blame us.
Then they're going to blame us for crashing.
E Yeah, they. You know what though?
Like the? Lands for fighting east.
What? Listen, shit.
I. Think.
Listen, listen, I I mean, I I think this is this is good for
the all coins and the meme coins.
I don't care. So it doesn't mean.
I think it is. I genuinely think it's a lot of
bullish for a few things. Exposure might actually be
bullish for, like, Weirdly. Certainly not bearish for
Solana, which is where my perspective.
Maybe bearish for Solana short term.
Me and Novi were debating that. I don't think so.
Solana's been running with Bitcoin.
I think Bitcoin is. Going it was.
Was, was. Was.
The other thing about Solana is, remember Solana has very bad
technicals at the moment is there's obviously selling
pressure on Solana. So, and if something creates
technically weak and you get a bad headline, it gets very true.
Very true. Very true.
This squares me. OK.
So look, we'll see what happens. You know what though?
Nothing better than an underdog story.
So I'm going to go and pull the market after this and I'm going
to put a little bit on the ETF getting approved because the
odds look nice and this is where I like to get in.
But you know, we'll we'll we'll we'll see.
Yeah dude, I know, I know, I know.
Andre Smith. I'm sorry.
It's not my fault. It's not my fault.
He says, oh this show is just a Big Bear show at this point.
I ain't no bear but my Co host you know maybe KBM got to their
heads on wrecked radio. I don't know what's going on you
know. But Speaking of KB MI mean lads,
KSI yesterday tweeted that he was shorting crypto you know,
followed by KBM tweet saying that he's short.
But what people realize is like a momentum trader, it's like
he's in and out within 5 minutes while the rest of the people are
just still like debating what KB Ms. in and out of.
But but you know that happened and the market seems to have
ripped the other news that we had the other headline and I I
definitely want to play some of this video here on on on the on
the show Donald Trump. Donald Trump's a former
president Real Donald Trump says he has fun and makes money with
crypto proceeds to promoting his NFT collection.
Hold on. It's not playing.
I think my sound settings Let me let me let me fix this with you
guys right now real quick. There you go.
Trump is definitely, he's definitely getting more bullish
on. I mean he he basically said he
didn't think it was that bad. He just like preferred the
dollar a couple weeks back and he was like, oh, it's fun, I've
made money from it with my NFCS, he said.
He's not, a lot of people have adopted it, so he's not going to
do anything with it. Like, he's definitely not anti
crypto, so. Don't you like to see?
It which is I don't think I even know what Biden's position is on
is on crypto if I'm honest. Like, I actually just don't.
So, but it's definitely Trump is taking a more positive line
towards crypto in the last month.
I mean, I don't know what Biden's personal position is
that much, but from the way his administration has been, yeah.
They're very. Crypto.
I think. I think we'll we'll they're
probably on their side of that watching you know reading
Senator Warren constantly bash it and everyone from you know
what was the name of the lady that called this Benance.
I forgot her name, Benance. Oh, yellow.
Yelling, you know you got yelling, you got war and
fighting you got man over. You don't have to bear tweet
during the show. You don't have to.
What's? He talking about now?
I didn't bear tweet. Yeah he is yeah he's he's he's
explaining himself live on the show. 11:10 AM Coming to you
live from OS FS X account OS F Why do you bull post 1A then
Cautious pose the next day. Ask no one.
It's 'cause I'm extremely cognizant of staying focused on
managing risk and efficiently and not getting poisoned by
euphoria. I will not allow myself to feel
happiness until the job. I mean, I have to say I agree
with this part. I don't agree with this part.
You are allowed to feel happiness on the way up.
So I I do want to. There's there's euphoria and
there's happiness. That's that's true.
I It's not. It's a personal decision for
everyone and for me choose not to feel happiness.
Yeah, I love, I choose I well, you know, you choose
unhappiness. I choose I choose rich and I
choose happiness. So while I'm talking about this,
can we just take a second here to like talk about our media
colleague, our our fellow morning show, you know, host of
the nifty portal which is goes live before us every morning
also Monday to Friday since yours.
I mean, can we just take a second and appreciate what
happened from Friday to Sunday for Nick O'Neill?
What do you what? I didn't really talk to you guys
about this, even in the background.
Did you guys follow and, like, you know, play along a little
bit? I followed.
I saw the coin as well when it was like, very low.
Oh. My God.
He's really. I just don't understand, like,
how many people seem to have fallen for it.
Like, it's so clearly satire. Even in the video, it looks like
satire. Oh, my Show 4 brings me to
$3000. High Tea Service at Baccarat.
Choose rich. High tea service of baccarat is
fire, by the way. But what's what's funny is that
he keeps getting community noted right on X.
So it says Nobody said the champagne was fake, just that
it's not as expensive. So it's champagne video, yo.
Cheers to all the Twitter haters who said I don't own my Miami
house. I'll have you know I have the
staff load up my jet so I could fly out here to my New York City
penthouse. Pierre at There.
Anyways, while you're click clacking on Twitter from your
mom's basement, I'll be sitting here sipping from my $5000
bottle of champagne. Remember, choose.
Rich. And so that got that one.
They're like, oh, it's not $5000, It's a Titan girl.
Champagne. It's no shit, bro.
You know what I mean? Like, is this, you know what?
I'm going to say that this is not helpful and I'm going to say
the source is not reliable. I'm going to appeal this
community. I'm going to say submit an
agree. There you go.
I'm gonna say this is abuse against Nick O'Neill.
And then it all started with the chose rich video, right?
Which is this. And then you have this guy
claiming that. So Truce Labs is claiming that
Nick O'Neill is is funded by the Chinese Communist Party, by the
CCPI thought the CCP stood for Crypto Cabal Party, but no, it
turns out that he apparently he's being funded by China.
What do you guys think about that?
I don't know. I've seen this guy's post.
They fantastic. Very rogue.
Like fantastic. He's he, I think he calls out
metallic all the time as well. Like he calls out a bunch of
different people and I don't really know if he yeah, he's
he's very good at his job. Yeah, I don't know what's going
on, but it's pretty funny, so there it is, he said.
KBM was like the founder of Yeah, there was something about
KBM. And buy bit I.
Was like what? Yeah, this one was great too.
Nothing more hilarious than the guy.
Sitting next to I. Chose.
Rich every time from a clearly rented house.
He claims to own it, but his suitcase is right in the corner,
so I guess he's. He's going to struggle to
explain that one why he hasn't been unpacked in his own house.
I don't think so. I chose rich every time.
You know Nick went viral.
Can we. I was thinking about this
yesterday. This one's for me.
Twitter fools chose pro in the feller look.
Clearly the nifty portal organization had a great week in
Miami having a little off site you know and choosing to to
They've got an off site right. And it's funny because they
planned all this right? They're actually content masters
like what people don't realize is really good at what they do.
They've been doing this as long as us you know and they've been
doing this for a while and and you know and the and the post
that originally posted they'll start with this one post right.
End up getting 32,000,000 views. This post 32,000,000.
It was posted by Trust Fonterry on X on IG.
The New Yorker posted it every single media in New York and a
lot of people like me and Paige picked it up.
I have a question And can we think of a more viral moment
ever for an NFT native content creator?
I don't think so. 32,000,000 is a big number.
Haven't you seen that right? Like that's one post That means
it's gone over 250 million impressions across all social.
Yeah, I've never seen numbers like that ever.
Like, it's pretty insane. Fair play.
Fair play to Nick. Fair play to Nick, man.
You you won. And I mean, it's had.
Had normies, like texting me about this.
I was like, do you know this guy?
I was like, I was like, yes, Nick.
People are like, oh this? Guy is such a douche bag, man.
I was just like. But what's funny, guys?
It's like the CT guys originally fell for it like it was like
core CT and went viral and everyone seemed to have fallen
for it. And like us NFT Twitter folks
are just laughing because like, we know Nick is fucking around,
right? And it's funny because.
Technically, what if? What if he grows into the
character? I mean I I hope he does.
I was talking to Nick over the weekend and I was like I really
hope he like keeps going into the character and which
obviously like Bodago saw a pump on the back of that we saw Nick
token get a get a little pump on the back of that thing that went
all the way up to $10 million followed by like a beeple every
day. So like you know the you know
the the space was quick to go out.
But anyways quickly we'll have 5 minutes.
Usually we we talk meme coins, we talk NFTS and whatnot.
Especially in the time like this.
The new meme Co meta seems to be all about like those those
characters like the the the the Trudeau one and stuff like that.
I completely missed I was having my weekly Mysterio path
treatment Sunday and I missed generational wealth on a Trudeau
shit coin. But Mandelse, you sent it to me
like dude it feels like this one made for you.
I was out, I was like you know, but it seems like there's a
whole like you know trend going on on Solana right now which has
really turned into a full gone blown like full blown like Sky
Casino. So that's going on right now.
And then the rest of it is just you know NF TS kind of like
lacking on that front. So there's not much to cover
when it comes to that. But that's really what is going
down. That's based on if you guys had
anything to add to that and also the fact that OV had cancelled
PD 5 because everybody pissed him off.
That also happened over the weekend.
Do you want to address that OV? Do you want to address you
cancelling professional DJ? Basically the for our mint we
just need the ability for different wallets to have
different mint limits and the current magic.
Even contracts didn't support that, so I asked them to modify
the contracts so we can support that.
That's that's what it's actually canceled.
Guys, I was obviously playing taps, made a fake screenshot of
of obviously he's tired of everybody and their expectations
and that he's quitting and obviously, naturally I had to.
I had to mim into reality. Maybe it's to get you guys to
admit less of them. But I was kidding.
I just because some people took it seriously and were worried
they'll be like, Oh my God, is he actually canceling?
No, guys, OV's all canceling. And you know I'm assuming when
you have news like you'll share on the show.
So we'll keep you guys posted about what's happening with PD5.
But anyways, quick glance at D Gen.
Dash port here on ETH. Peplicator was the big winner
this weekend. Huge winner was up 600% at peak.
That was minting Friday I think. So Matt Fury raking in another
four and a half million dollars. That was with Friday's ETH
price, so a little higher today. So not failing to mint out a
project. It's something minted out.
It's just as many as it could mint.
It was 22,000 units of Pepe's guys board Apes.
Once again 10 points down on the day.
Looking closer to 15 ETH here. Yeah, man.
Down 35 points. It's all you guys too.
You guys started the cascade, so blame OSF and Mando Crypto,
obviously. Just kidding.
Y'all. But that's going on right now,
so obviously that. But look, I mean, I'm not really
per SE worried long term about the broad ape itself, but
definitely something to look for and in a sign here on ETH NFTS
recent So 2 1/2 some big crypto punk style.
Over the weekend I saw Beanie sell for like $800,000.
One of the cleanest punks in the collection was it was the beanie
with the 3D glasses. So I'd love to see that some
punk styles again like the floor sell about $200,000.
ETH price lower but you know ETH is also $4000.
He got some liquidation cascading again, just same
thing. Blur farmer's just getting like
a ton of stuff happening there so that's not doing well.
Same for zuki pudgies as well. I wish I had 13 knees Sappy
seals I don't know if you saw, but shout out to wab give him
some some flowers. There he is like starting this
like open world concept. Like I saw seals come home you
know kind of a fork of like apes come home like this new world
where like a bunch of people can like come and hang out on this
metaverse. Shout out to him for including
meme coin communities. I think at the moment meme coin
communities are what NFT communities were like early
2021. I don't know if you guys agree
with that or not, but that's kind of what I'm seeing form
here, which is kind of funny. So he included MOG and another
coin, forgot which. I'm sorry about that.
Maybe was it ticker Bitcoin probably and and something else,
I don't know. But it was one of those.
So there was that on the seal. So we saw some movement there on
Bitcoin. Everything's down, but
everything was up a lot. So you know, puppets, wow.
Puppets are .14 Bitcoin, but that's with Bitcoin at $72,000.
So it's normal when the underlying asset is denominated
and goes up, the asset goes up, goes down, the NFTS go down.
So pretty large pull back all across the board on ordinals
with 20% down on node monkeys, 20% down on puppets.
I saw this pups token thing. I spent an hour this weekend,
boys separating my puppets into wallets, gambling, speculating
on the fact that I could potentially get an AirDrop per
wallet versus how many puppets you have in a wallet, but it's
on Bitcoin. So it took me an hour and 30
minutes to separate everything. But you know what?
You know it was a chill thing. It's vintage.
It's luxury. You know when you when you order
Chanel purse or you go buy like nice pair of sneakers of Louis
Vuitton, you have to wait like 30 minutes for the bill.
It's just how it is. So maybe not 30, but you know
what I mean. And last but not least on
Solana, same thing. NF TS.
Lower Fragana's up a bit. Mad lad's up of course, like
they keep getting air drops. 10 sorens were up a bit, it's a
fifty thing. And then Podagos of course
getting all the attention. They were up to 8 soul but
retraced a little bit back down to 8 seven Soul on the back of
Nick of course going being absolutely viral AF over the
weekend but that's about it. I don't know if you guys are
seeing this Jason safe calling the BTC Maxis annoying and
stuff. So it looks like the Bitcoin
Bros, the Bloomberg Bros, the ETF Bros are all at it all the
timeline today. So we're going to see what
happens on the race of ETFs. And guys, this is funny actually
look at this, he backed it up but he got he goes BTC Maxis,
you're kind of annoying as hell on this topic about the ETC.
Don't want to know where the Bitcoin Max is, man.
Oh man, oh man, oh man. Anyways, the price is going up.
We have a packed week on the show.
We have guests almost every day. Tomorrow we're doing Robin
Luttbach spin, so excited for that lot going on.
And we have a project coming up and on and on and on and I think
I think tomorrow fine, Launching the the DJ Ali.
The DJ Ali thing That's what I'm hearing.
But we'll see you tomorrow anyways.
Anyways, Callie said. So I'll wait.
Shout out to Callie probably listened to the show now but
with that with that bit that shout out to our show sponsors
Pallet. Check him out.
The fire our new our new partners.
You'll hear more about them throughout the month on the show
cool generative art project. And of course we'll bet.
And with that, we'll see out tomorrow morning, 10:30 AM
Eastern Standard Time. Something three.
No. Now, 2:30 PM GMT for another
episode of Formal Hour on Rogue Radio.