Yo-yo yo-yo what up, what up? Good morning, good morning GMG
Monday. Oh baby Monday January 27th,
2025. Look at that another beautiful
day to have a beautiful day. I got my Co host in the house,
Tyler Mando. Good morning boys.
How you doing today? Yeah, I'm doing all right.
I woke up this morning, everything was down horrifically
and then the US has come in and kind of saved us as as per
usual. As per usual, the America dude,
fuck yeah. You know America dude.
God Bless America. Tyler.
Tyler loves to hear that. Tyler.
Tyler must be like euphoric at the fact they were like US Maxis
now. Like, you know what I mean?
It's like we're logging. It's like we're just going to do
this every Monday every day and Monday I'm I'm going to up and
Bitcoin's going to be 98,000 down 6% from Sunday and all of
our memes are going to be down 45% And then we're going to be
back at, at support by market open at at 8:45.
It's just. It sure feels that way, Tyler.
It sure as hell is starting to feel that way in the market
right now. I mean, every Sunday we're
dumping. Every Monday morning we're
dooming. And then by the time, you know,
I'm at the desk for the show, it looks like things start to look
better. But my memes are decimated.
You know, it's a, it's a class thing.
And then turn around Thursday comes in and, you know,
everyone's bullish again. And we do it all over again.
We get over before work on Saturday, we get excited and we
wake up on Sunday, you know, and, and it's over again.
So, you know, so now the trading hours are are Shabbat only, you
know, so sunset Friday, sunset Saturday, you know, just just
take your profits during that. This is the new trading hours.
And then just get off, you know, just get off.
It's the other way around now. Benny's going to have to adjust
his schedule here around this. Anyways, today on the show
today, today as usual, let's go through the market.
Let's go through Tyler's top 100.
There's a lot to discuss today, American AI versus Chinese AI.
I mean, that is the big headline.
I made sure to read a lot of articles yesterday so I could
become a subject matter expert for you guys.
IMA AM AM A in the in the in the in the in the thing.
Maybe we should go and try deep seek and see what it tells us
because I don't know it was down this morning.
I'm just waiting for Iranian GPT Tyler Stop 100 and then a robot
spin. So today, this week, it's all
day every day. Sorry, every day.
So because we skip Friday, you can blame at The Sims for that
THESIMMS and I'm just playing with them.
But anyways, we're doing today every every single day, five
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Mando, mando, Mando. I feel like the people like
every single Monday morning, they really, really need this,
this market report. Where's my button?
I need to rearrange this stuff. Where's my mando button?
Hold on, what? I have a mando button.
So. Oh, there it is.
Can you dig it? Yeah, bit of a rocky start as to
Monday, to be honest. It's not really the majors.
Bitcoins barely down now had hit as low as around 98 K and then
rebounded actually at 97 1/2. Wow and then we bounded all the
way back up to around one O 2 now and is now I guess deciding
if it wants to continue to go higher or head back lower the IT
did hurt alts a lot more so Bitcoin dominance is back up to
60% so yeah pretty horrific well 59.3 but pretty horrific move
there across the board that goes from things like Slama down 5%
down to around 2:30 area ETH ETH was was it below 3K again today
No, just stop short of being below 3K and then it's now
backed up to 3100. So those are both down like 3 to
5%. And then some of your more spicy
alts, let's say, are down a lot more.
So if you go down the list, most of the AI coins, the AI agent
market cap back down to 10 billion, which is just above 10
billion. Let's say memes this long meme
coin market cap down to 17 billion at one stage this
morning. I think it's pretty rebounded
slightly since then, but pretty horrific move there kind of
down, down the, down the, the spectrum.
Nothing was really saved to be honest.
The only coin that was higher in the top 100 as I when I did it
this morning was Jupiter. And that was on the back of them
announcing a buyback, adding some fees and and doing a
buyback. So apart from that, everyone was
pretty, pretty knocked off by this.
I guess we'll go into it, but it's, there's a couple of
things. Firstly, it's a bit of a macro
week. So you have a bunch of tech
earnings and you have the FOMC this week.
So they all decide interest rates this week.
So like last time, it will largely be around, although
they're expected to keep rates unchanged.
It will be largely be around their guidance.
It was the guidance that threw things off last time.
Trump is still talking about tariffs to certain countries,
Canada and Mexico. Steel tariffs were mentioned
again, but then it's kind of all with the same hand also offering
trade deals. So I don't really know what the
Fed's going to say there if they're going to be pre emptive,
but that's caused a lot of let's say stress.
But the main thing was this was this fear suddenly over AI,
basically just the whole trade, which has been over the last
what two years really has been this AI super trade, NVIDIA
being the NVIDIA being the starlet of of that trade.
And over the last, well, over the last week, I would say
there's been a new model that's come out out of a company out of
China. Deepseek is its name.
And it's been done at a fraction of the cost and well, seemingly
a fraction of the cost then. And is its reasoning model
actually beat the ChatGPT 01 model, which has been there like
breakthrough reasoning model as well.
So a lot of questions about why if there's been overspend in the
US on this sort of technology, the huge CapEx spends by a lot
of these companies into AI, whether the the GPU's that
Nvidia's been making will be will be needed really in this
world. And that was, you know,
naturally crypto just dumped on the back of that, even though
because we're the only market that's open on a weekend.
So everyone's smashing every single coin they had lower.
You had Arthur Hayes and Anson calling for 75 K Bitcoin for for
the multiple multiple times at this stage.
And yeah, just like AI would say clearly in clearly like a bit of
hysteria across the timeline, this was suddenly going to upend
the American AI ascendancy, let's say.
But that seems to have calmed down.
And I think there's still a lot of questions about it.
We're going to a bit more in depth and sure with Tyler, so
I'll leave that. But that, that's the main thing
that's worrying people. And stocks have gone lower.
They're not the let me look at where NVIDIA is right now.
NVIDIA is down 100. And 24 it's not done that much
right. Well, it's down 13%.
That's a decent movement. NVIDIA, I had it for them, yeah.
I've been down a decent amount on Friday, too.
This is the first time you've really seen some weakness that's
saying NVIDIA. The NASDAQ is down 2 1/2
percent. Interestingly, this has not been
what you've really seen here for the last month or so is that the
NASDAQ has been underperforming the S&P.
There's been a lot of talk about how, you know, we can have a
more broader base rally in the US now and it might not just be
the magnificent 7 stocks. And that's been, that's been a
trend for the last month or so. So this is kind of just extended
that a little bit. So the, the, the S&P is only
down 1.71 point 8%, which isn't that isn't that crazy.
So I don't think I don't think he's saying anything to like go,
I don't know, the US is going to be fine.
It feels like it's what people are saying.
But this may, this may call into question some of the really high
AI spend at the moment by some of the magnificent sevens.
So that's the main take away for crypto.
Like honestly, other than the correlation to tech stocks, if
you if you look at it from a micro standpoint, I don't think
this is bad. Like some of the stuff that
we've been doing has generally been kind of wrappers of these
of these LLMS. And if there's a cheaper one
that allows you to do more that that generally allows us to do
more with the tech. And that was generally the take
from the the open source community in crypto as well that
like this was going to be a good thing.
It's difficult to imagine it wouldn't be a good thing.
But from a macro standpoint, like I said, we're the only
market open on a Sunday. People just want to smash risk
assets. It happens.
And so Bitcoin, I think particularly, you know, when
Europa Europares are waking up drinking their coffee on a
Monday. So how was the Europause?
It's easier to sell, man. Like when I'm sitting there in a
cafe just. You know this is old man, though
he did say I just now we caught him, ladies and gentlemen.
Not for me. Caught him?
Yeah, exactly. Yeah.
So let's see, let's see what happens.
I I don't, I don't think this is going to be as bad as people
think it is. I also think demand will just
increase to to match the GP, the like the NVIDIA style GPU.
So, but it does tell you that you can, we can maybe have made
a step change in the way to do these LLMS.
Are we really, are we really going to we don't have to get
into the debate of that, but are we really going to get into
like, are we really going to believe the country that lies
about their own GDP or like everything, every other data
about how much it cost to to build somewhat of a ChatGPT
competitor here? Like, is this what's happening
right now in in in the world? Well, firstly, it just went
down. But the second thing I, I don't
know, I, I even, it's, it's kind of how they've decided to do it
seemingly that that's kind of caught people's eye.
Like there are some some differences in the methodology
rather than just the cost, which makes me think that maybe there
is some truth to, to this. Like, I don't think it's
something you just like automatically dismiss.
What I would be very unsurprised to see now is Western economies
banning this new version, this LLM.
It's already got like censorship around it too.
They'll probably take the tech, they'll take the the the the way
that they did it and incorporate into their own models and
they'll just continue on. Yeah, I think what this does
mean is like, yeah, maybe there is a cheaper way to do LLM.
So we've been looking at that. Remember we had the Erebro guys
on Friday and I asked that exact question.
I exhaust how expensive is it to create an open source LLM?
I literally asked that exact question on Friday because I'd
heard whispers around this sort of stuff and he said, you know,
it's like a couple of million a month.
You know, this sounds much cheaper than that, but yeah, I
whether it's whether it's true or not, I think the the result
will be if it is true, then this model will be banned.
I'm almost certain of it. And that you will get and
they'll just take the tech. Yeah, it will get the TikTok
treatment. Is that what comments are
saying? Yeah.
What's up, Tyler? That's a core, a core part of
this whole like AI race, right? Is like when you're open source,
everyone can just take it. Correct.
And build right on top of that. I, I feel like this is overall
going to be a net positive. I think there probably is some
here. I think there's probably also a
chance that they're fudging the numbers a bit.
But I feel like what the real reality is, is stock market's
been trading at all time high. S&P 500 hit an all time high on
January 23rd. And when you everything is
priced to perfection, any type of volatility hits the market
and you sell off. And we have a very volatile week
ahead. And like the the the traditional
analysts, they're just like us. They have to come up with a
narrative to say why everything's selling off when it
could just purely be just, you know, selling and taking some
risk off the board ahead of a week where we don't know if
Powell's going to come in hawkish or dumbest.
We we have very little insight to that and we have who briefly
put on 25% tariffs on Colombian coffee yesterday and then.
They fucked around and they found out no.
Fucked around and found out very quickly we're.
Going to have to talk about that one too.
That adds a little extra volatility to the to the global
economy. I mean, you guys can get your
coffee in so many different places, right?
You know, you make great coffee in Burundi, like incredible,
like Arabic coffee is incredible.
You know, African coffee is pristine, pristine, specifically
Burundi coffee for the coffee fish and the fish and others out
there. But yeah, you're right.
I mean all this as to it. I mean, what do you guys think
about this take and then let's go into the topics.
I thought that was probably the best tweet of the weekend.
Marc Andreessen tweeting out deep seek R1 is AI Sputnik
moment. One of you 2 sent this to the
chat. I think I thought that was quite
a quite the take no, and I agree with you Tyler, that this is
probably good for AI for the world like technology, like you
know, competition breeds innovation.
No, like so I I was very confused about the immediate
like you know market that they dump overall.
If anything, we might be driving more spend into AI in America
just as the the global race heats up.
It's like this is the you can make an argument.
This is the final race that matters.
So why is my far coin down on the news that Chinese AI is
taking over? You know, let's, if we're going
to talk about that, I mean, you know, what's going on here,
boys. You know, I, I thought, you
know, by this time next week, my call was 18 billion.
We did go back to 17 billion midweek.
And then, you know, Chinese AI came into play.
So what, who's building a cookie dot fund?
But for Chinese meme coins, you know what is the Chinese far
coin boys? Yeah, I think, I think it just
it ties into what we were saying before with Trump.
You know, the people are very, very scared to own tokens.
This was this. It hasn't just gone from 18 to
10. Right, it was.
It was at. 13 or 12 before this. This was just the final like,
oh, the whole market's about to. I mean, people honestly calling
for 75 K on a 2% dip, like of course it's going to start
scaring people. And I think a lot there was some
there was some crazy levels when I woke up this morning, like I
put them in the chat, right? Like, I mean, there's still, I
guess I haven't really bounced that much, but.
Not really. Down.
We're down crazy amounts Fart coin was trading at.
Where was it, 800? No way.
Oh $0.90 briefly. Oh wait, this.
That kind of hit one of the levels we're looking for here.
30 million it hit AI 16 ZI mean AI think it's barely bounced
but. Yeah, that's probably never
bouncing there. Was so many like coins that
you've heard of below 100 million, right like.
Wow. Fog was below 100 million.
I mean, the whole memes conversation, that's another
combo. Yeah, that's that.
I saw the ice knife viral tweet this weekend about pop cat fog
and and and a bunch of other animal memes with this is just
not by the way, I don't community members to take it
personally when we named them. It's just the most iconic ones.
I guess that you name right. So it's like you look over the
reason Pepe mob, like all of them.
Everything's man. What happened there?
Everything's getting smashed, dude.
It's not. I mean, This is why, because I
know you know there's always a tweet saying they're funny to
post right? Oh, why is everyone freaking out
Bitcoin still one O 2K. But the truth is, nobody's owned
bit nobody. No one's Bitcoin.
So that doesn't help, right? So you know, listen comfy in
JRP. Shout out to my quant you had.
Been destroyed if I hadn't got you in that thing.
Like I was thinking about the portfolio the first thing this
morning. I was like, Oh my God.
Because only like it's it's froze to lend this stuff.
And I was like, no, I think, I think he got out.
I appreciate you guys thinking about me on the Monday morning.
I appreciate the I appreciate you guys thinking about me on
the Monday morning. He's a lot.
He's got a moment this morning where I think you would have.
You would have been. I don't think I would have
showed up on the show. I'm pulling in sick for the show
sort of stuff. The tricky thing about the AI
sector is, like we we've all said, like we knew this was a
bubble. We thought the bubble was going
to get bigger. There's no like relative values
here. There's nothing, yeah.
How do you, how do you justify that, that this is the number
and this is where it should rebound?
It's it's just all so, so new, like the sector didn't three
months ago. I mean, to be fair, like, you
know, I think we just got a wake up call in the true.
I mean, I had a tweet for some reason yesterday, my tweet like
did numbers. I mean, it's good for my yap
points here, but so I was just kind of people were freaking out
last night. So I was just like, let me just
like, maybe explain to people like change perceived value,
like what it means or something. So it's like after this thing,
look, China could be lying for its worth, but for now, like
there's a change in perceived value of like how much cost to
build AI. So now you have a change Percy
value on our, I guess meme coins associated to that.
But The thing is, our meme coins associated today are worth 0 for
the most part. And we all know that when we buy
them, right? Like like we, I love the XBTI,
love all these coins been in and out of them.
I love these terminals. I love everything that's been
built, But like they're not really worth like like when OK,
we use cookie dot fun every day. I love cookie dot fun shots of
the team. So beast is not personal, but
when it's worth 200 and something $1,000,000, I'm like
that. I'm like, this is like a Masari
for like AI, like, you know, I mean like for tracking coins and
it's value of $200 million, you know what I mean?
Like if you put your rationale like investor hat on or
whatever, like would you Angel in that a $20 million valuation,
guys? I don't think you would.
And so, you know, it's tough, right, to bounce back from that.
So we'll see where it goes, but I don't think either of us think
it's over. So don't worry everyone, the
boys are still bullish. Agree.
I think that the challenge is like the sector.
I think the sector survives 100%.
We don't know as if the existing leaders survive, so that's why
there's so much pain out there. I mean, usually the leaders
bounce, Yeah, and I think you start this morning.
So what is this like you have Griffins up 7% this morning six
hours, while ARC is bounced 17% in the last six hours.
I really like that coin. I know we say that a lot, but I
really like that one the most out of all of them.
Not no out of no bags, XPT even XPT still $450 million guys, you
know what I mean? It's like price is on unchanged
since like 2 weeks, right? Remember when AXBT first hit
450? We're all euphoric, right?
So it's, it's some some something to think about even
four coin like that's it's 900, it's a billion, it's leading
back in a billion boys. Like four coin is still a
billion dollar asset. You know what I mean?
Oh my God. It's down 60% while bitcoins
down 2%. Dude, that's what's hard to
justify in your. Head.
I know. Yeah.
It's so crazy, guys. It's so crazy.
Anyways, all right, let's move on to that, to the other side
because we had a rudder yesterday and a lot of us cut
that. It was a fun one time.
Let's see what you got for us today.
Analysis. Yeah, folks, crypto majors are
very red this morning with all some memes down.
Much, much more analysts pointing to the launch of the
deep seek model along with FOMC concerns, macro concerns as the
driver for this market sell off. It was still a weekend of some
very bullish headlines. We had Elon and DOGE, Department
of Government efficiency. They're exploring using public
block chains to cut costs in the US government and add
transparency. The CEO of Bitwise Hunter, he's
saying they're seeing more interest in crypto from $10
billion plus firms than ever before.
So his phone's ringing off the hook.
Fidel hosting jobs for a blockchain engineer, signaling
potential plans for expansion. Eric Trump curveballs.
We don't know if this is true or not, but he's teasing no capital
gains tax on American crypto. Still very unclear how and if
this would be implemented and then Michael Saylor news from
this morning they bought another 10,000 Bitcoin no one catches
the highs or the tops better than big Mike $105,000 average
on those buys they. Also no sense.
Stark STRK as a new convertible stock offering product for them
to raise more capital so he he's not slowing down anytime soon
And and token AirDrop protocol news abstract announced mainnet
goes live 1:00 PM Eastern today. Myriad is going to be there
folks. They also shared a new whitelist
open application for streamers. So just in streaming go take a
look at that Jupiter huge weekend, arguably the winner of
the weekend they acquired Moon shot.
They also announced 50% buybacks with revenue generated from
their new ultra fee pump fun. If you haven't been following
this, they set another new all time high in daily revenue, $15
million in the damn they are eating.
And then in the Social 5 streets, we saw Tribe launch
newest Social 5 app on Salon and I think nearly 100,000 sign ups,
perhaps more in the in their first weekend.
AI, we kind of want their total market cap down 20%, ten billion
full 50% drawdown from local highs about 60% off forever
highs. Most leaders down 15 to 30%.
Top number is we did see this cloudy token move 100% yesterday
on the back of my new AI generated song as well as the
spaces. I think that went well.
We saw virtuals announced plans to expand to Solana that shocked
a lot of folks. They're targeting the first week
of February to launch AI16V announced Eliza version 2 along
with a $10 million fund for open source AI startups.
So like Charlotte Adam, they're putting their money back into
this ecosystem. Parallels Wave Finder team Tease
They've been using Deep Seek since January to power their
agent, so if. You're wait, Parallel is Chinese
crypto. They're they're using deep seek
for for wave Finder, so perhaps get some exposure via prompt
here soon. And memes meme coin majors are
also read. Of course, we saw Toshi sore
100% to $800 million on Sunday. It's up 5X since it got listed
on Coinbase. And then the meme of the day
yesterday was this FAFO meme tied to a Trump post on Truth
Social, soared to $90 million. Still, folks, the volume in the
trenches is wild, $400 million in volume.
God damn it, dude, damn. It's meme.
I saw it back. It fell back to about 30 million
here this morning. And then another token seek tied
to deep seek jumped about 700% to 28 million.
So that is the rundown. Still, it was a busy weekend.
God damn it, I bought the wrong coin, bro, because I bought I
bought Chinese meme coins and mine went to 0 this morning and
the other one went to 12 million God damn it yeah I got rubbed.
Where do we even start here? I mean, we already talked AIII
think we? Just talked about Solana's big
weekend. Yeah, let's talk about it
because at the other day like almost again once once again
leading back to Solana. We saw the virtual announcement
the other day from base to Seoul and and now you're talking about
Solana here again. It's pretty crazy.
Quickly, quickly, quickly, the code today for the robot loot
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It's very nice. Tyler Solana.
I want to dive through it and I wrote my newsletter and I'll go
through all the headlines here in a second.
I know Manuel has to jump here in a second.
Amanda, are we expanding the the radium trade to Radium plus Jupe
now or? Like they, they've suddenly it's
another Solana D5 token, which is clearly noticed that, right,
we need to, we need to change our tokenomics here.
Like we don't actually know here.
So they said that they're going to.
What they did is they added some fees as in they said, look,
we're now going to start charging people nought point
nought 5%. If you ever use Jupiter, you
have two modes, you have auto or you have manual.
And that's the slippage. They're now making it so nought
point nought 5 cent and they called it ultra nought point
nought 5% is. Charged.
I used that this weekend. It's nice.
Right. Well, you're paying nought point
nought 5% per trade. So they've added a fee.
Remember, they've never had fees before for their spot trades and
then they're using 50% of those fees to buy back the coin.
Now we don't know it yet because they haven't.
I think we'll start to get the data maybe from from the Defy
Lama soon. But this still has to go to a
Dow vote for the buyback. But it's they do do a lot like
of volume, but it's unclear whether that volume will stay
with them because of this fee or if people will decide to do
manual or like it's just it's a lot of unknown, but it's
probably, I think you're probably looking at a similar
sort of burn to what Ray is doing like within the ballpark.
Djenko Oh, Radium. Sorry.
So something like that, something, something in the,
let's say the hundreds of millions a year.
Now Jupiter is, is, is about 2X's market gap, but it is
arguably got a better brand, you might say.
But it, it just makes the coin a better coin in my opinion.
Like it's really good to see D5 coins go this route if I'm
honest. And I think they'll be a lot
more focus on them because of this.
Like Solana's 2 main coins in their in their D5 ecosystem,
which is Jupiter and Radium are both doing buyback.
There's not one in the in the ETH ecosystem doing that.
Why is that? A lot of them are US based, a
lot of them are slow. I mean, are they I think is on
its way for a fee switch, but I don't I don't know.
There's definitely no buy back so but.
They're foundations. They could, right?
People look at these coins suddenly again, they'll be like,
right, OK, well, now define Solana becomes an investable
asset class in my opinion with this sort of stuff, sorry.
And hopefully that changes. So hopefully that that becomes a
bit more of an interesting way to play the casino.
I like that. Very good.
So the troops sitting at the dollar still?
Wow. So if you waited man, did you
claim that AirDrop yet? No.
God never loses bro. He's crazy man, I swear.
God. I thought about it over the
weekend. I was like, I'm so glad I did
not claim it. I already claimed it and I
already lost it in the casino, so yeah.
I think it's a good token. I might, I might just claim and
keep it now. I, I like the coin.
I mean, remember, we, we were like, we, we had now come, we
should invite him again. The founder Jupiter on day one.
Come in here. Like he's like this guy's like a
crazy psycho founder bro, Like he's like crazy, like he's nuts.
And, and I believe in them. You know, he's just so good at
what he does. One thing I would say is that
the terminology was said, look, we don't want to dump, we don't
want to dump Jupiter on you. We want to make it a bit more.
We want to make it so it's like 5050.
It's tied to the ecosystem. Well, that does tell me is they
are still going to sell. Like the team is going to be
selling Jupiter here, but they've just created a flywheel
to support them selling. So rather than them just like
having to sell it, Do you see, see what I'm saying here?
So like this isn't necessarily like there's no supply coming to
market like these guys will sell this Jupiter the team well to to
help fund the whatever they're going to be doing.
So don't just assume that it's just like buying into no supply.
No, of course, of course before SO.
That's been mentioned a few times that it's like, yeah, it's
a buyback, but like be cognizant of like it's not just one way.
Yeah, looks like they had a whole event in Istanbul.
You know, like good stuff. They also burnt 30% of the
supply, but that was well known. That was well known.
Like they said, they're going to burn it for a long time.
They. Burned.
Where was the? Where's meow?
Where's my invite? I wanted to go to Istanbul.
I know the hell that looks so nice.
See you bro. Yeah, there was a lot of
announcements. I can go down the announcements,
then we can go back to the trade.
So I covered it in the newsletter this morning.
But so Jupiter they acquired Moon shot.
Yo, that was big. This is coming after Moon Shot
launched the Trump token and on board 500,000 users.
Yeah, it's a major buyback program.
We we just talked about that. We had the base leading AI
platform virtuals announced plans that they're expanding to
Solana. We had AI16Z announced, they're
Eliza V2 that's a flagship Solana based AI token.
Along with this our fund for open source AI startups.
I think that was actually announced at Cast Amble along
with the Jupiter news. We have stable coin growth
leading on Solana over the past month.
I think Mert said that's the first time that's ever happened.
There's been more stable coin growth on Solana than Ethereum.
We had Grayscale file for a Solana ETF.
So the ETF, we know they're coming.
We don't know if it's going to be this month.
It's almost certainly going to be in 2025 And then pump fonts
at their new all time high and broke.
I sent that. Yeah, I have it open.
I'm gonna open it. Yeah, I got it.
So this comes back to the Ray and Jupe and this is the D5
trade conversation. So like if you look at this
chart tokens deployed, it's just up and to the right.
This 1,000,000 memes deployed on pump font.
Wow. Less than a year.
Their revenue was also up and to the right.
They made $15 million in a single day over the weekend.
They are just absolutely printing.
But you could also look at that as extraction from this
ecosystem. And it's no secret that all the
meme memes are all bleeding right across the board, the 2024
era memes. I think there's a, there's a big
crisis of people kind of wondering, are they done
forever? Will they ever come back?
It's not looking good, dude. It's not looking good, right?
So if you look at this I'm. Sorry.
And you're like, OK, I don't want to play this game anymore.
But I also realized that this is a strong casino and I don't
think it's going away. How do you want to play it?
Ray and Ray and perhaps Jupe are the ways to play it now along
with Seoul. So I, I think the case for
you're bullish on the casino. You want to own the casino now
you have a couple options to do that beyond just just Ray.
It's it's interesting, right? And I can absolutely see
investment coming into to the space around that.
But I think this chart also tells you why this is a part of
the story of why our memes are bleeding, right?
Because there's only so much liquidity in this broader
ecosystem in the Seoul casino. And.
So many coins launching every single day.
And. Now that we've got more volume,
so more interest, it's more interesting to trade these
runners of the day. So we were both, we were both in
that Fatho coin yesterday. Let's talk about that.
That was fun. Yeah, pull the chart.
When you see $100 million in volume in like the first hour of
a token, you know, like, OK, this is the one that the market
is going to focus on today. Even if it's a farm, right,
because you got to something people have to be careful with
is like a lot of these are farms.
So it's like fake volumes and they're just doing that to like
dump on your heads. But if you want to play the
game, you could play the game. So it's risky.
Of course all these trades are are very risky.
You can all just rug and go to 0, but if you look at that,
there was like a solid hour, hour and a half window where you
could have gotten into this token between 10 and 20 million.
Then it parabola up to to 90. Yeah, this whole period was like
an hour long, dude. Yeah, it was very long.
I was watching it in real time. You can shove decent capital
into these, right? It's like that.
That's that's one thing that's different with with the volume
in the trenches right now, like 100,000,000 coming in and out in
the first hour, $400 million in volume in less than 24 hours.
This coin launched at 3:00 PM Eastern yesterday.
So it's like 18 hours old. So it's going to do 500 million
probably, yeah. And it's on its way down, yeah.
Yeah. The rest of the 70 mils coming
from the way down right? And maybe it's done forever.
Maybe this meme will make it. This is this is lots of
commentary on this specific meme, of course, kind of the
state of the trenches. So if you see this and you see,
oh, my other coins just kind of slowly bleeding, maybe I'll clip
some out and try to two or three exit on the runner of the day.
And then you just rinse and repeat that every single day.
Like that is a a part of what's happening here?
Yeah, it's, I mean, that's what we did, right?
Like I caught it. Like what 1012 whatever got in,
got out sadly clipped out too soon because like, Oh my God,
it's really this thing doesn't go past because of that mindset
too, right? It goes both ways, right?
Like, oh, there's so many memes not going past 2530 million
thing goes to like 100 whatever. So we cooked all the way up and
and that was fun and then followed by I got rubbed right
after on like another coin, which was I just I don't know
it, it's not good. But you got to I think the new
and that's something I talked about with the boys last night.
Tyler's like these runners, man. There's one I just almost every
day and there's opportunities to cash them.
But you're absolutely right. Like if you're this is really
not the season to marry your bag, do not marry your bag.
Like if what we're saying or sometimes mention a coin, your
own or whatever, like effects you, that means you're over
invested in it. Like it's it's that part of the
of the cycle. Or like if if someone's talking
about coin and you see your coin, understand it's upsetting.
Like that doesn't mean like sell the bottom, but that also may
not mean that it's the bottom yet for your coin, right.
Even the got the ones that we thought would be going up.
Only, you know, would would let's let's just mention the big
ones, Pepe, right, love Pepe. I love Pepe by far one my
favorite coins. It's a 5.35 billion closer to
Christmas time. We were all saying, you know, I
I know I was also, and a lot of traders were like, yo, this
thing's going 15 billion. It's going to be Sheba 2021,
right? Remember when it got listed on
Coinbase? They got that massive run to to
40 bill, 20 bill, and we're like this is going to happen.
Pepe is a great token. We were saying it's the token of
the cycle and now this is happening.
Let me give you guys another one that I personally love and I
know Tyler loves as well. Farquin.
Farquin was just $2.8 billion. All this stuff effects it.
I still do think that hot air rises.
I still do think that Farquin's going to have an aggressive move
up. Again.
That's what I believe that Zoom is going to happen, but I do
think so. But hey, it's not $170 million
right now and it's being affected by the casino, right?
So it, it affects every single coin you want to look at, for
example, talking about marrying bags.
So about pop cat, I like pop cat.
I don't have it, but I, I like the coin.
And built for a moment we were saying this is a blue chip of
this cycle. You buy, you want to buy this
when you see this or do you want to wait for flavor of the day?
That's you know. It's like FOMO is such a part
FOMO and attention is such a key part of this game.
And like once the chart is really bad, it's like how?
And the volumes are dying on chain.
I know they're getting volumes on, on exchange, but you also
got to be careful of like exchange volume like it's just
the truth. Look.
Look at. This look came back though, I
guess so like if like if you want to say that can pop cat
come back. I mean, with this run, dips
chopped for nine months and then it did have another run.
Yeah, but Pop Cat now is just like a 2024 mean.
You know, that's my thoughts. That doesn't mean it won't come
back, right? I'm just saying it has outs.
At least with. On every.
At least with has Coinbase, you feel me like at least with and
like if I were to compare the two, right.
But for example, this this was meant to be the leader of the AI
meta. This was meant to be the coin
that started the entire cookie dot font fucking website.
Technically, yeah, I mean, like the whole thing, right?
This was supposed to be the coin that changes the face of crypto
and blockchain technology. It's literally been down only
since November 2024. You know, And now that Andy did
what he did, I will be praying for this the it's downfall.
But that's OK, that's personal. It's not business.
All the good thoughts they had when they sold their Farquin.
But but you know, it's even like all jokes aside from this, like
look at this 72 days of down right on a coin that was and
what we're trying to show here. And we're not targeting coins.
We're we're talking about the big headline coins, right?
And I know all our coins are the same, right?
It's because don't marry the bag, right?
Don't be afraid to be more, you know, leaning.
But also that's how you get burned.
So you got to be careful. And I really, really, really
think Tyler, this is a I, I told all my friends this and I'm sure
I think some of them are going to listen to the show right now.
And I tell them all the time, this is going to be chip choppy.
This is where you lose all your stack.
This is where you use everything just like chill a bit like this
is good. This is like maybe way catch the
run, like the faffo, right? Your Sunday, you're at home.
There's no excuse not to catch it really.
Like most people are home on their laptops at the DJs that
are trenching and stuff like just chill, right?
There's always like, there's going to be like 5 more faffos
probably this week, you know? Yeah, it's weird time to enter
positions like I I don't, I'm not really like playing new coin
launches really at all these days.
It's just be careful. And we're not even doing with
size, right? Like I don't think he did 5 for
size. I didn't like I I did some and
then I made micro money and I left right.
Not not crazy size, but just like even like the micro caps,
like sometimes it's fun to play micro caps, but and maybe if you
want to do like a small gambles, you know, depending on whatever
your small part of your bankroll, but the point is like
there's just so many and they're dying so fast.
Right now, then again, just don't don't lose it all before
the potential golden bull run with the the strategic reserve
and you know everything. Wow, trillion dollars liquidated
from the market. In the I think it has to be
wrong. I I don't think that's possible.
Crazy, right? They added a three zeros.
They they they, they deleted it, but there's probably a lot of
liquidations going on right now it.
Shouldn't work, yeah. There was breaking news here on
the deep sea side that you have to have a Chinese phone number.
Now deep sea restricts registration to China Mobile
phone number. So even they know that their
shit doesn't work, dude. So it's like, you know, it's,
it's, I think we so overreacted in the markets, Tyler.
It's crazy. I think so too.
But I said like I think everything was basically trading
at perfection. We had a little bit of
volatility come in and people took some.
This is going to be a big week. Wednesday's a huge day.
I don't. I don't.
It's hard for me to see anything really running before Wednesday.
Yeah, you have the FOMC, so I'm sure we'll cover this a little
more, you know, on tomorrow, on Wednesday morning itself.
But I feel like we were talking about this like even before this
whole deep sea news and stuff. I know you and I in the chat and
I know all my boys were like, yo, we're probably going to de
risk into FOMC. Like that was like consensus
bro. And Bob Lucas thought she made a
good tweet because I think, and I think that's actually
interesting. I'm Chris.
Your thoughts? He says SNP was up 350 points in
just seven trading days. It's called profit taking.
The news is just what's for the offering that day.
Part of me believes that too, dude.
I think headlines are what we like to hang on to.
Whether we go up or down, there's always a headline that
we tie it to, but just markets being markets.
Exactly. Yeah, I think that was the most
level head take I've seen about the situation.
But today also for big day abstract launch.
I know, I know, I know we got to go in 5-10 minutes here.
We're going to do a giveaway the the giveaway.
But yeah, Myriad is launching on abstract lads, this is a huge,
huge, huge, huge day with 17,000 people applied this weekend to
to fucking be creators on abstract.
I'll, I'll get I'll dive deeper into just how big this is, but
basically every single person that streams on abstract is
going to be predicting on Myriad and we're going to be obviously
one of the top apps on there. Shout out to Luca and Michael
Lee there for believing in US and and and working with us.
But that was good. I mean, the first preseason of
Marriott got 42,000 participants, 700,000 on chain
transactions, $165,000,000 million dollar.
Sorry, one day a million points transacted.
So that was big dude. And it's today it's happening.
We're yeah, stressful, most stressful for my deaf team, but
it's it's a big day, man. Well, how do you, how do you
feel about abstract coming out to that?
I feel like you must be excited. You've been part of the Pudge
ecosystem for a minute. I'm very excited.
I'm excited for the Myriad launch and to kind of get back
deep into the prediction market. So it's like I played
polymarket, you know, ahead of the election and I kind of
consciously took a little time out because I was kind of
wanting to save my capital for the Myriad you see pool launch.
So I'm very excited to to dig into that.
I think a lot of people are kind of wondering what what is there
going to be to do on day one on on abstract.
There's probably going to be some meme coin launches.
That's going to be like a very ball game.
Oh yeah, I can't wait for that. Which I'll probably play a
little bit like, I'll be honest, but I like the like prediction
markets. You can, you can make bets that
you can sleep with, right? Yes.
And, you know, you can, you can actually, you know, think
through things. Yeah.
Yeah, I agree. It's a decent sized capital,
whatever you want to do. So I mean, except for that I'm
sure there'll be some hiccups day one right there.
There are always is. I'm not just talking about Mira,
I'm talking about broader abstract.
I'm sure there's going to be. I'm sure that's true.
I mean, like our platform is still in beta, right?
Like we're launching, we're launching season one with
abstract, but you know, it's it's going to be interesting
man, because also like you got to think about like there's also
a lot of farmers that try to like game the system.
So that doesn't help, right, in terms of like keeping a website
up. So it's it's tough, dude, it's
tough. I have a war room called in
exactly 20 minutes from now with the team in in in Portugal.
That's where a whole deaf team is based out of for for for Mary
other product. So it's going to be, it's going
to be a big day. Our USD markets are going to
launch normally the first week of Feb, first few days of
February. So I'm excited, man.
I'm excited for the new media model.
I'm excited to show people that we can drive proper revenue to
that. And I'm excited to see people
look, pre season, the people were right 77% of the time.
People know people are good at predicting, you know, So it's
it's going to be it's going to be a big day.
I'm excited for our show to start streaming on abstract.
I'm pretty sure from tomorrow morning.
I mean, Sims, correct me if I'm wrong Tomorrow, let's go.
There you go. So tomorrow morning the four
more hours going to be live on abstract.
Pretty cool, right? Streaming's going to be awesome.
I love how you can showcase apps when you're streaming.
And if folks are out there wanting to know, you know,
everyone's like, how do you farm abstracts, right?
How do you participate? Just try, try to stream, right?
It's a low capital way. Create content, find, connect
with an audience, be interesting, right?
Like that's definitely a channel that folks should consider.
So I'm excited that we're going to be doing it.
I'm excited to spend my own streams.
I'm excited just to go deep on my myriad butts here.
It's going to be so good, bro. Like, honestly, like I think
Luca put a tweet out that we weren't expecting him to tweet.
That was kind of like a curveball, but in a positive
way. Nowhere.
Luca tweeted something like, let me find it.
What do you say? Since it was Oh yeah, he said
streaming yourself using Myriad Markets and pinning the app on
the stream would get you 50,000 XP.
So one thing's for sure is now confirmed, we didn't even know
that, is that you're going to get a fuck ton of abstract XP
for pinning at Myriad Markets on your stream.
You know what I mean? So it's things like that that
that makes me really excited for it.
However, if you start pinning shit and you don't actually
interact with the stuff that you pin, Nope, I think they'll be
negative connotations. So if you're going to stream
some pin what you're streaming and actually stream it.
Don't just try fucking farm it or game it.
No, that too. And you know, they have ways of,
you know, you know, playing with farmers and so do we.
So you're like double farming. It's funny, Tyler, you're going
to be on abstract and predicting on myriad because the points are
still going to go and and it's going to be an exciting.
I think Feb is going to be really positive for the
industry. Tyler think it's going to be
Yeah, think it's going to be a lot of fun.
I'm excited, excited for this month of January to be done,
though, kind of over it between the election ending, the
inauguration trade, the the all this executive orders
volatility, all this stuff. It's a.
It's a lot. It's been a long month, but
February is a short month and a lot of indicators it's going to
be a a bullish month, so I'm feeling very optimistic.
Yeah, it's it's going to be bullish.
Well, all right, let's get to our giveaways and then we'll
keep the we're going to keep the the rest of the topics for
tomorrow, since you want me to pick from the audience.
So we what we do the code, we're good ABS we're good and then
fuck and we have to go launch this thing on fucking abstract
dude Holy shit, fuck that's crazy.
It's a lot it's stressful man, and I'm not even the one coding.
You know what I mean? Like I'm feeling my.
This is what it's all about though, right?
Yeah, yeah, yeah, it's a lot, man.
Like we forget because you know, like, you know, I'm also I
trench, I hold, I do a lot of things, but sometimes you forget
they're also building a whole ass stick.
This is the big thing. All right, same.
Let's what's the what's the vibes things?
Am I you can make give me one minute.
Give me like 30 seconds of a go. No rush, no rush, no rush.
No rush. You know what held held up the
best in this day? Punks.
Dude. They're they're 48th and people
just keep they're 41. Shout out to the Wizard of Soul.
Yeah. This feels like one of those
where like it's the time is slipping away.
Yeah, if you think the bull market is going to continue,
which I do, there's probably going to be a point.
Come on, Tyler. Reprice again and like be able
to get any. Come on, Ty.
That's what my read is on this. Come on, Ty.
Come on, baby. It's tough to sell my memes down
60. Percent.
I know, I know, of course, but and I wouldn't even tell you.
It would be like don't do it.