Oh yo-yo yo what up what up this morning this morning GMG Monday
August 12th 2020 look at that another beautiful day to have a
beautiful day. I got my Co host in the house.
Mando how you guys doing today? Busy man, how are you?
Crazy as fuck. We love it.
You know, people are coming back from vacation now.
So you know, foremost stop ringing it's in in a good way,
busy, busy, you know, market market conditions.
Let me tell you all in the people who are listening market
conditions definitely don't don't reflect the back and
busyness of of our industry. It's it is busy.
Tyler, how you doing? I'm good.
It's a beautiful summer weekend here in Chicago.
Weather's just been perfect and I'm kind of with you.
I feel like summer is almost over.
Kind of ready for it, ready to get into fall, but we still.
Over the whole thing now. So I'm fucking over summer.
Bring on Christmas. I'm done.
Like, you know what I mean? Like there's a point for me.
It's like summer, yeah, I enjoy. Then it was my birthday.
It's really where like, I feel we like, it's around Labor Day
weekends. It's when people really get back
mentally to work, I feel. And that's all right.
Take me to Christmas. I'm done.
Like, fuck it. Like, I, you know, it's over.
Yeah, I, I was talking to my girlfriend this week.
I was like, not even an inch of vacation.
Nothing. No relaxing.
Absolutely 0 until Christmas. You know, you know, shit's about
to start booming. And so and so and so we're ready
In major, major unrelated news to crypto this week, this
weekend, I have acquired a new keyboard.
I, I have made the acquisition of, of a brand new keyboard.
So I now thank you, Sims. I see you clapping in the
studio. I now do have ASDF and the
spacebar again, so I can tweet D guards next time Frank is on.
You know, we're good. You know, I, I still have this
one. Maybe at some point I, I, you
know, Rage Against the market and just like break it on
timeline for content. I don't know, but we'll keep it
here. It's definitely broken.
So we'll also be giving it to somebody anyway.
So, yeah, weekend was great, lots of lots of beautiful
weather on the East Coast. That is for freaking sure.
Anyways, the day on the show today, today, market report as
usual. Let's see what's going on with
this market. I mean, I woke up this morning,
thinks it was OK and things are not OK anymore.
You know, typical summer chop. You actually love to see it.
You know who sold? Let's find out on the next
episode of FOMO hour. Tyler's top 100.
I'm sure he's got a lot to talk to us about.
Like we said, things are starting to rally again.
So in terms of yes, I know Logan fiance, fuck, fuck the I I the F
word. It doesn't work in my head.
The whole fiance word. I said girlfriend again.
You guys catch me slacking on the show every time.
Just keep reminding me, OK? Keep.
I see you, Jen, listening to the show.
Come on, Jen. You couldn't fucking keep me on
checking the team chat. Come on, Bernie Cheese, half the
rugged team listening this show not keeping me on check.
Let's go anyways, Tyler's top 100 as well.
After that, see what he's got in in store for us.
And then last but not least, it's Monday.
So Arbitrum update. You know, we're partnered with
Arbitrum now. So every Monday we'll give you
guys ecosystem updates on what's happening on the on the chain.
And there's been a lot actually we organically talked about like
5 things last week because that back-to-back news.
So we'll just, you know, kind of run them together and get into
that. But anyways, anyways, anyways,
today's Monday. We have limited time with the
Great Mando, so let's get right into that.
GM shirt on boys market is a little bit lower.
We've kind of stuck around that 60K level.
We we were just above it or around that level just before
stock futures opened and then we kind of dumped as soon as stocks
went live. That also coincided with the
dumping in major like in stock, stock indices of the NASDAQ was
indicated higher, now lower. So we kind of just tracked macro
with that sell off ETH has been slightly outperforming over the
last few sessions, definitely a bit of a reversal in the sole
ETH move and even in Seoul, sorry, in ETTC.
So last week was the first week that we saw inflows into the
ETTF weekly impose that is. So maybe we see a little bit
reversal on that sort of trend at the moment.
Other than that, you know, doesn't really feel like it was
a busy weekend in terms of volumes.
Some of the lowest volumes I've seen on a pert basis and most
pumped up fun coins and meme coins were at very, very low
volume. So yeah, definitely felt like a
quiet weekend. We slightly retraced from where
we were Friday, but nothing really to not really a nuke.
I think there was some expectation that we could see a
flare up again with the Iran, Israel thing.
Is it unclear whether that's coming or not?
I saw yesterday that maybe it's been delayed by two weeks, but
then you saw statements by UK, France and Germany today and and
the US sending another battleship out there.
So who knows? That could kick off at any
moment. But for now, it feels as though
at least it wasn't on a weekend. So crypto didn't absolutely get
naked during that period. In terms of what we've got this
week, it's quite a busy week. For macro, we have CPI, we have
PPI, so consumer price inflation, reduced price
inflation in the US you'll have retail sales and we have, I
think we have that for the UK as well.
We have, we have inflation data in the UK.
So I think some market moving stuff, the CPI one in particular
will be will be heavily looked at.
So expect some volatility around that just in terms of the the
speed of rate hikes. The rest of macros kind of
settled down a bit like the the yen, like Japanese stocks bounce
a little bit today. Like we haven't really seen a
follow through in that unwind of of the trade.
In fact, the yen has been slightly dipping over the last
couple of sessions. So yeah, that's kind of slightly
on pause. It feels like the number one
thing will return to being whether we're going to have a
soft landing and or whether we're going to see a flare up on
the international stage. So that's the stuff that people
are worried about. In terms of crypto specifically,
I said ETH had been outperforming.
The real outperforming L ones has actually been suey,
strangely. Suey.
Yeah, Suey has been slightly outperforming all the other L
ones. This is a chain which is at
around 8 billion FTB, just some more positive center around it.
As we spoke, we spoke about this last week even, right?
Like it's a bit more of AB2B style chain and but definitely
been the strongest bounce from the L1 lows, which we're kind of
across the board. And it's one of the few L ones
that's now up this this year, along with like ton and soul.
I don't know if this has a massive follow through.
I'm always wary of buying these a child like that.
But yeah, it's it's definitely gotten people's attention.
I think even Raoul Pal put out, but a tweet today just pointing
out it's our performance versus Solana over the last short
period. So yeah, that was the only thing
on majors. We've had some interesting,
there's been some light FUD around wrapped BTC, which I
think is probably worth paying attention to.
So wrapped BCCS is Bitcoin which is on ETH and bit Go was the
custodian. They're now moving that the
custody offshore, as in outside the the US, and it's going under
the custody of Justin's son. Wait, yeah, please.
Please repeat that sentence. So wrapped Bitcoin that we see
on EVE, you know, is used a lot is the custodian.
There was was bit go. They are in order to strengthen
their their custody, they're moving their custody to Asia and
split it between geographies. One of the main custodian
partners there is Justin Sun and the Tron network.
Now there's been a lot of fun around this in the Deepak
community. Like for example, rap Bitcoin
makes up about 10% of the collateral that is used to
flatulize dye the stable coin made by maker maker have said
publicly they're probably going to move away from wrap Bitcoin
on the back of this and several other key defy protocols on ETH
are also sounding the alarm being like we do not want this
guy involved. This seems far more risky to
have him as a custodian. There could be.
I mean, they own a lot of Bitcoin.
They own a lot of Bitcoin. I'm not saying that Bitcoin
won't be will be wrapped in a different way and we have a
different custodian, but it's something to pay attention to
that we could see some quite large changes to to D5 protocols
if that stays the same. And we could see some people
like question, I guess the future of rap BTC in that that's
that was kind of the main piece of like D5 for today alongside
alongside the suey stuff, which seems to be bouncing back.
And then the only other thing I I thought was relevant that I
saw today was some of the stuff that happened over the weekend,
which has been the backlash against the CFT CS potential
ruling against prediction market.
So it looks like the CFT CS is maybe moving slightly more
aggressively in terms of their preliminary rules against
prediction markets. Now prediction markets has been
one of the major, major gains of this cycle.
It seemingly they've come down and proposed rules that the cast
rising ban contracts related to gaming and elections.
Now a number of different people have have in the crypto arena
have have kind of clap back and said this is too broad,
particularly on the gaming like that could mean a lot of
different things. And then for elections,
obviously we're all pretty keen to continue to have like
political events have this sort of level of truth to them.
So it's just been interesting to see that like now the buck is
passed from the SCC, maybe just CFTC, we may similarly get a
heavy-handed approach here, which limits cryptos, cryptos
applications. It would be a real kick in the
teeth if this was to come and curtail prediction market.
I feel like this is probably preliminary.
We haven't seen, in fact, the way that Dragonfly have clap
back, which is one of the the the the B CS biggest BCS in
crypto. They said that that the Chevron
deference ruling, which happened about two months ago, limits the
ability of the CFTC to do anything.
So there could be a question about they can whether they can
do even do anything here. But just know that there could
be a battle here about about the future of prediction markets,
and I think it's worth paying attention to. 100% You know
what's funny? It's Speaking of which is how
Tyler pissed off a lot of people on the timeline this weekend.
What's? He been doing he he so basically
when when when Trump is had 72% to win on Poly market prediction
markets are the source of truth. And then when Trump is getting
his ass handed to him by Kamala Harris on on the prediction
markets, which he is right now 46% now from 72 British markets
are not the source of truth anymore in the Kamala camp.
Super super PACs are controlling the markets and putting her head
in order to change the public perception of the 5000 people on
CT that are huge voters. You know, probably half of which
not even fucking American citizens.
The other half, probably not of which to vote, You know, they,
they're, they're, they're the ones, you know, skewing the
votes, right, Tyler? Is that what's going on?
Yeah, that's it. I mean, it was some pretty wild
theories going around the weekend.
And I mean, listen, like, is that possible?
Like could that possibly be happening that PACs are betting
on comma? Like, maybe.
But to me, it was just more interesting to see like the
narrative shift from when my guy's ahead, this is a truth
telling machine to when my guy is behind.
Now it's a rigged market and it's the Super PACs bang it up.
So it's one way or the other. Oh my God.
It's going to be an interesting one to keep tracking.
I mean, it's still a coin flip. That's the thing. 5246.
I mean, I think maybe because his lead has evaporated so much,
that's why the reaction. But I mean, it's still like it
is a true coin flip and he's very in the race.
I mean, tonight is a big night, I think. 8:00 PM right combo.
8:00 PM Eastern. There's a great line on.
We might as well pull the line up now.
I think this is the most interesting bet on Polymarket
today. This is more for the gamble
today. Let's see what you got today,
Tyler. So this is this is for the
gamblers out there, there, there's there's not really any
edge to be had in this in this market, but it's what will Trump
say during the Eli interview? I I think you can see it.
There it is. OK, what do we got?
MAGA crypto, I mean 60% chance of saying crypto, it's a nice
bet, but you probably can you size in with that.
Yeah, let's see here, dude. Oh, yeah, there's a lot rather
on Yes, there's a lot. Hold on.
I'm on the, I'm on the Full disclosure.
One second, you're telling me that there's a 60% chance it's a
60% return if he says the word crypto in the Elon interview?
Correct. Yeah, if if Trump says the word
crypto, you, you cash that bet if you're on, yes.
Why would you? Why are you on the no side?
I'm curious about that. I don't think Elon cares about
crypto that much. And I think I do think
Polymarket skews to a crypto audience.
I think the line's a little too high.
I mean, a lot of Trump's speeches, he doesn't cover
crypto, right? I think there's also a chance
that he says big point but doesn't say crypto like he he
could bring up Bitcoin and Bitcoin mining and you still
lose this this bet Interesting. I mean, I'm on the nose side.
I don't feel great about it. Why is the word temp on it
there? Because Tampon Tim that one of
the things that they've been ragging Tim Waltz on is that he
gave access to feminine products in both bathrooms.
I, I would bet yes on all of these.
And then just you know what I mean.
Real weird trans is probably a good bet just because that seems
to be what Elon's very obsessed. With there's ten of these, what
if I put $1000 on every single one of them and see what hits?
That's that's one strategy. The word Tesla 66% Are you
fucking kidding me? Is this real?
I mean we should stop talking about on the show.
I don't want people to take my lines here, but.
Yeah, I mean, you need Trump to say it.
Yeah, I know, but interesting, Interesting and.
There's some fun ones on here. It's like if you're going to
watch the speech and you like to gamble a little bit, but there's
some fun ones. Definitely going to be watching
the speech. I find this interesting.
That's a good find. That's a good find.
You got you got like all these like really good.
You know, you got all these really good finds here in the
markets. I'm I'm curious to see where
that goes. But anyways, I'll, I'll give it
a shot. Maybe I'll, I'll load a, I'll
load a wallet up again and try a few of those and see what hits
it. It could make this speech more
fun. Right At 8:00 PM, you're just
like, let's go. Yeah, for sure.
Did you see like that there's a pretty interesting sweat over
the weekend on the Olympic gold medals?
So like, the US was a heavy favorite, and then like, China
ended up tying them, but the US won on a tiebreaker.
But it was incredibly close. And you know what the tiebreaker
was? It was the Algerian boxer
beating the Chinese one for the gold medal.
It was and I won them because I bet, I bet.
I mean, that was actually one where there was an edge.
So sports books had, I mean, Khalifa as a 10 to one favorite
and she was going off like a three to one on on Polymarket.
So there are that's a spot where there's some absolute EV to to
bet. I think there's going to be more
of that in the sports world. Yeah, it's it is going to be
interesting like our opportunities for sure for
people to kind of play on both sides here.
But anyways, all right, so look, market wise, you know, we're
looking at what's 59 six on Bitcoin.
We got a little bounce across the board here.
ETH is nearing 2700 again. So it was about 1:48 and the
memes are meme in here, which I'm sure Tyler may have some
stuff to talk to us about this today.
So Tyler, let's see what you got for us four daily NFT and crypto
analysis. Tyler D.
On FOMO. Our cause?
The kids can. So crypto majors are rallying
again. They rallied this morning, they
dipped, Now they are all the way back and ETH is leading the way
right around 2675. Sui, as Mando mentioned, jumped
17%, leading all since up 100% on the week.
So it is definitely outperforming.
We saw Big Go announce it will transfer controls of its wrapped
Bitcoin products to the JV with Bit Global and Justin Sun.
Celsius suing Tether now for $2.4 billion worth of Bitcoin,
saying they were liquidated without the ability to post
collateral. Canto down goes Canto.
It did not produce blocks for a full day this weekend due to
consensus mechanism issue and then our friends rolled it.
They had salon token deposits including Radium with Jupiter
Boom and a whole lot more. And memes.
Some pump fun metrics were circulating this weekend.
Just 0.12% of tokens launched reached profitability.
I guess not a huge surprise, but when you see the numbers on the
page, they it does kind of hit you a bit.
We saw Jupiter, we thought the Jupiter team was dumping like
$26 million worth of meme coins. Though Meow said it wasn't them.
It turns out it was a referral wallet, so that was an intro
twist there. We saw the MAGA meme coins surge
ahead of this Trump and Elon conversation tonight.
MAG up like 48%. Pac-Man has rallied over 3X off
its local bottom. Ahead, the burn in conversion to
Army. That burn window closes on the
14th folks. So attention, if you've got
Pac-Man, make sure you go out and do that burn.
Oh, did we lose him? Yeah, I think so.
Yeah, there you go. See, it's a super PACs.
They got him. I have to say, Mando, you showed
up on the show with a shirt on and Bitcoin bounced $1000.
Straight up, I haven't been. I haven't been paying attention
as much. Rather look at this, look at
this the the candle. This is your shirts candle.
This one here. This is literally your this one
here. Look at this.
Wiz likes to call this a bullish hammer.
You know it's his favorite one. This is you coming on the show
straight up with a shirt on. Are you back, Tyler?
I'm back. Where did you guys lose me?
I got to get the Wi-Fi consultant out this week.
I'm in a restaurant. We used to dog on Mando on the
show with Ovie and now here we can I we we lost you after the
pump fun metrics. You cannot like talked about
this. Then you said Suey.
They said like the way you were. You were towards the end of your
your spiel here. OK yes we saw the maggot coins
pump pack moon. If you missed that, the pack
moon burn window ends on August 14th.
That tokens up 3X off the bottom.
No way. No.
Fuck me, dude. There he is.
Oh, there, he's gone. He was funny to me.
Like he lives in the city that's supposed to have good Internet
and I know he pays this motherfucker probably pays
premium prices for his Internet too.
I I know he does. He probably has a Verizon super
turbocharge or whatever they have over there.
You know, I have everything oversized in America.
Every time he says pack moon. What what is Bobby big yields
doing? Bobby pack moon team is Lambolan
and Bobby big yields trying to silence us.
Don't see the P word? All right, we won't say it.
The burn window is coming up and you don't want to miss it, so
I'll, I'll just leave it there. It's up 3X off the bottom by
this listing, Nero, we saw RSIC jump 35% over on Bitcoin.
The runes are up as well. And then the doodles they
premiered, they're not in the store video and that collab with
Adidas on Friday as well. So that was the roundup.
Saw that, saw that, saw that. I mean, where to even start
here? Let's start with the pump phone
numbers. I mean, you know, I'm, I'm I'm
sensing, I'm sensing the same vibe as like when people are
saying blur killed on FT ES with NFTS were kind of killing
themselves in a way, you know, they just made maybe accelerated
the process. Well, how do we feel about about
that statement? People are saying pump phone
kill meme coins. I mean, I, I, I don't think this
is the case for us with putting it out there.
But Tyler, you got the stat up. What?
What do you think? Yeah, I don't think it's, it's
killed it, but I do feel like the market is a little bit
saturated. I, I tweeted this last week.
I think it's harder and harder to play these new coins unless
you were just like glued to your screen and you have very tight
entries and, and targets. And I mean like, why when you
see these numbers, it's like, why, why, why play on pumped up
fun. I guess 9.1% are are launching
and being profitable. It's like why not just wait I
guess and see what gets off there and starts to catch at
least some attention. I don't know, I never really was
a grinder in the pumped up fund trenches and you know, maybe
that's the game. I remember I actually
interviewed the founder and he said they don't want tokens
leaving pumped up on and they're actually happy with him just
staying on the bonding curve so that that model is still very
alive. But it feels like it's much more
like the pros and bothers and experts like it's, it's their
game right now. And I feel like as a casual meme
coin trader, it, it feels tough. Feels tough, Dan.
Yeah, yeah, I don't have a strong stance on that.
Yeah, I I definitely don't have time to be in the puff on
trenches, sadly, but I, I, I also I'm the type that waits for
a token to have some, some lags before buying in bigger.
And what do you think about that Mendo?
The the amount of coins I made? Are we surprised?
Like it's free to create coins. I think, I think the changes
will automatically lead to that. Yeah, I think these aren't good
figures. And I think we've already, we've
already spoken about this like it does kind of feel I think
Arctic shared a good, good stat and yesterday which was there is
no pump dot fun coin above 80 million now.
What even me chain stuff? Yeah, Salana feels very PvP at
the moment. You know, pumps are getting
sold. It is.
There's a lot of coins, just like hanging out.
It's, it's just pretty dangerous at the moment.
So I think everyone's, everyone who's been in Salon that this
isn't really a surprise. Like it kind of feels like it's
been going like this for a while.
And I think Pumped Up Fun has made a lot of money in this pro
process. I do think there were when
you're making 16,000 coins a day, it's just very easy to
fucking move on to the next coin.
Like we've already spoken about this and it, it does feel right
now that it's PvP and we're kind of, we're going on the loop
slightly lower each time is what Tyler said.
And I kind of really, that really stayed with me.
That's what's been happening. Like we are, we're just kind of
like slowly going lower until we start to see more funds come
into the ecosystem. I'm not saying this is the end
of mean points, but it does feel right now not a lot of not a lot
of values being created in meme coins.
And that's kind of an objective statement rather than a
subjective statement. Well I agree I think the the RTR
fall out right like some people who got rent on RTR that.
One is still tired. I mean basically.
Close the wall. Like I need to take a break.
Like I didn't lose the time. But like, events like that, it's
like, OK, I'm going to, you know, walk away from the
screens. By the reset, $1,000,000 were
white from the trenches or not the we'll call it what you want.
I don't care if trenches, not trenches that I mean, did we
have any updates from that over the weekend Like this?
It's getting pretty, it's getting pretty nasty.
Like we, I, it's funny, someone said I think it was he was like,
damn, last week was crazy. Like yesterday I was like,
brother, that was two days ago. The RTR thing.
I can't believe I wrecked so hard last week.
I was like, brother, it was like 48 hours ago.
Was there any fallout from that further than that?
I saw some people go a little crazy on the timeline.
Much at all I saw Donald Trump junior was on the spaces with a
different meme coin. He was on the spaces without the
mega A. That's the.
One, we talked about that, that they, he, he's endorsed that
before. And it's not like the token's
been pumping, you know? So they're they're the the turn
brothers are still deep in the crypto streets, just not with
the RTR. I do want to share this though,
because you talked about this. Tyler, I'm making this from your
page. It was an article from
Blockworks Trump hailed as a pro crypto candidate.
Meanwhile, meanwhile, all three of his sons are involved in mean
con scandals. But that's that's from Tyler.
But block works for an article web three watch All three of
Trump's sons have not been caught up in mean con drama.
It's it is. I mean, it's a problem.
I think that the the base is going to look past it.
But like, like the the big knock on the Dems for crypto is
actions speak louder than words. Like you can say you're coming
to the table, but like, here's our list of demands that we want
you to do. And the the Trump campaign has
given great lip service to crypto, But meanwhile his sons
are launching meme coins or like they're getting caught up in all
these. And I don't think it's a great
look. And, and I think if it keeps
happening at some point, like it does distract from like their
their broader policy, which does seem to be pretty positive.
I. Mean you'd figure that like
Trump's advisors would tell the kids to sit the fuck down.
No, yeah, I don't know. I don't know, maybe the the
people helping him get to bitcoins conference or whatever.
The people around him, I don't know, you know, where's Ryan
Salkis when you need him? You know, maybe maybe tell your
boy like you know, to tell his children to take a little break
from crypto. They they need a mental health
break. The kids think if anything, if
if they could go mental health, it would be great for his base.
All right, well, Tyler, what else?
What else you got for us? I mean, let's talk about RSIC
for a quick second because that we talked about the tweet, you
know, last week, but looks like it's another leg up again.
What's the TLDR here? What's going on there?
It's good. Yeah, well, the team finally
broke their silence. Basically, they were just
incredibly quiet. There was concerns.
It was just a slow rug and I shared those concerns myself.
But now that they've been coming out, they've been making
statements again. They promised that season 2 is
coming up. So, you know, season one is when
we where we mined all of the initial runes, which would
become the, the, the rune coin, which was, I mean, it was a big
air drop. I mean, this, this thing traded
over $200 million for a few weeks, hit 300 million at peak
and the NFTS were up over I think they're like .14 point 16
Bitcoin at peak all the way down below point O1.
The NFTS are rallying now because of season 2.
The miners are going to get turned back on and then the
tokens been rallying as well. The tokens up over 100% off the
bottom. Still just 66 million, you know,
down about 70% from all time high, but down 70% is better
than down 90%. And there's just some positive
momentum for the for the first time now.
I I still think they've got a lot to prove.
Like when I when I laid out the the bull and bear case for RSIC
before runes launched, I said we we need to know what this
project is at some point. Like you can't just continue
mining, you know, new tokens that we don't know what the
tokens are forever. And unfortunately they haven't
really told us what the projects are.
It's like the NFTS have rarity like you mind different amounts
of runes because of the NFTS you have.
We still really know like what that what they all are.
They promised a game. They haven't really told us what
the game is. Oh God, this is.
This is every day bro. Like how?
Like like I'm going to print this.
OK, well this is the salon chart so that the Bitcoin chart looks
a little better the the pups token on salon liquidity because
they they went through that the conversion.
Chart on OK X. Go to Magic Eden.
Because I usually watch them here right on OK X you have the
web or? OK, X probably works.
Yeah, let's go to Pups. It had a nice like it has good
charts for for ruins. If you go here daily, then you
expand here I mean. It's a little bit of a rebound,
but yeah, I mean, clearly it's trending in in One Direction.
You didn't. Know how good we had it?
Every day I look at this coin, it's just down more like it's
just. I just won't stop going.
It's like there's a magnet zero. And it's when do we rip the
Band-Aid off? I refuse.
I refuse to rip this Band-Aid off.
Yeah, I was the end of it. At this point I'm probably like
if you think of any of the rooms, make it.
I don't know. This is probably coping.
Same thesis as he was like, this is like what we're going to sell
for five, 10K? There's like a quarter million
dollar bag at some point. Thankfully I did not pay for
mine so it was like an air job, but still a big fumble, you
know, So I'm even Bitcoin now. Look at this candle bro.
Since Mando put his shirt on, $3000 candle on Bitcoin.
Excuse my language, but wow, I'm just ripping.
This is literally, I mean hey Sims, I know you guys made a
clip about Mandel's shirt but now you should make a follow up
clip on this. This is the three.
This is $3000 candle on Mandel wearing a shirt on the show.
Holy moly bro. The shirt hammer candle.
Look at this Mandel 3K candle on you appearing on the show with
the shirt on. We lost Mandel because he's
hosting this Monday thing, but $3000 candle on this fucking
shirt? Dude, he absolutely loves to see
that all right, well, what else we got?
I mean we still got some time before we get to arbitrum
roundup. Is there is there anything I is
there anything you want to? I have to say like I I I like
what D, but I know I mentioned it because he was on Friday, but
I like what Frank is doing with his D God stuff.
I found myself browsing D gods again on the on on this weekend.
I didn't buy any yet. I ended up buying more more shit
coins. I have one coin that I really
like right now, so I've been just buying it.
But, but technically speaking, it is big enough for me to be
able to talk about it. But I, I know at some point I'm
going to sell something if it goes up and I don't want to hear
it. So but, but I, I think I kind of
like the approach of turning diagon's into shit coin, not
turning into shit coin, you know what I mean?
But like, you know. I I was a little too early, so
I've been I've been wanting to get on Diagon's.
I bought one at like 40. Solana.
And they bridged back to Solana, yes.
And then they ripped to like 60, but then they just went down
only and Frank kept saying like let him go lower, let him go
lower. And I didn't really see his
plan. So like I actually I, I exited.
I don't know if it was a plan from the get go by the way,
because he did say that at some point he quit.
He wrote a post saying like someone help him pick him up,
give him kudos, said he was there.
For you? Oh, did he say that?
Well, I missed that. And I was, he was there for me
even when I was like out pretty much.
So I don't know if it was part of the plan, but let's be
honest, all the people who really want it out are out at
this stage, right? Yes.
The perfect squeeze squeeze. I mean, I've always liked to be
God's art. I think it's one of my favorite
PFP collections from an an art standpoint.
Problem is now is you have to buy them either on ether soul.
So now you you, you find yourself browsing both right?
And I don't mean that in a bad way.
I'm just saying this is true because it happened to me.
So I have to go here again. Kudos to Magic Eden for making
you know this is so seamless, right?
It is nice to just shot multi chain and even with their
wallet, you can convert the currencies and whatnot.
So it's even easier. I don't like this multi chain
and because I got to be honest, salon people care more about
coins. So I feel like there is it's
like it's harder for the NFTS to really have sustained rallies
because it feels like my anecdotal read is that they get
too high if folks will just sell them and then, you know, to, to,
to buy or chase coins. What would you buy one if you
bought 1? Which one of these or?
Solana or ETH? Oh, Solana.
Right, right, same. Right.
Because that's not oh, these are cool.
Do you guys feel like Solana to me?
I got like that's probably part of the reason why, you know,
they got FUD for the for all the bridging.
I like the fact they bridge back.
I kind of just want them off ETH.
Like if they were entirely off ETH I would like them even.
More I wouldn't be surprised if he just said fuck it.
Like, bring your D guys back to the Solana fully.
I mean, the bridge is open, right?
Like you could technically buy diagonals on Ethan.
You could technically buy one you like on Ethan.
Moving back to Seoul. Oh yeah.
Yeah, good call. Yeah, you could do that.
You could technically do that. So you know when when looking
for and you can look at, The thing is, I'd rather look at
them in Seoul because then I go to Ethan, I'm like, fuck, it's 2
E or like 1 1/2 E And then I go to Seoul.
I'm like, it's 20 Seoul. But I'm like, wait, no, Solana's
up a lot. Solana's up a lot.
You know, it's $3000, it's $3000, but but it's interesting.
So that's one thing that I saw another question for you on the
NFT side. I mean, what happens to Camp Pai
Pandas here? Is there there I saw easy talk
about it. Easy tried to not allude to
them, but it was like, so obviously that his tweet was
about Camp Pai Pandas, right? He said here, I'll pull up the
tweet. I'm I'm curious your thoughts on
this Actually I want to buy the fuck out of the fun on this one
specific NFT. Despite the drama, fundamentally
nothing has changed with their business and I really do expect
strong recovery over time. You know this is clearly about
camp. I pilot so.
Yeah, well, I think he's probably right.
I think this space has such a short memory that everyone's
going to move on. But like for me personally, I
think it's probably a deal breaker.
Like the NFT holders didn't get the inside info right.
The IT was the investors. At least if they inside info.
Is that what you're saying? Yeah, I mean, your founder's
going to launch the Trump coin and he's not going to tell his
holders. Like, I don't know, like, what's
what's the point? That's my, that was my reaction.
I'm sorry. No, it's so.
You're so right. But they're they've already
started to bounce back. I.
Mean it's tough, right? If he's to bounce hard, right,
it's what were they at before the whole drama?
And they were like .6, they dropped like .4.
I mean, earlier in the year they were over one.
I think they got like close to two at peak.
You know, there's a point where, you know, I expected promised
like 100 air drops back in like the NNT AirDrop meta.
I don't really think those panned out.
And then I think rumors like them, them launching a token and
then I'm not sure where those all went, but it's been a little
bit down since. Interesting.
All right, well, I guess we'll see where where this this takes
us on their front. And then so on the NFT that's
about NFT is not that much going on right now.
There was, we were hot for a second and we talked about the
doodle news on and on. We had the ape chain going.
I think we're going to have to wait because September seems to
be a big month for for most NFT projects.
You have anime, there's a bunch of stuff going on there on the
Uzuki side. You have ape chain.
There's going to be more going on there.
I think September's going to be good, man.
September's going to feel like, you know, the back to school
first day, like you're excited to see your homies and like it
feels like life is coming back to A to a normal train.
Like I think you know, I I KBM actually made a good point this
morning. He said just be careful of the
end of summer chop, you know, and he would know, you know, he
would know as a day trader, you know, I think I would.
He said back away from the screens summer ending chop to
digest recent volatilities in full effect.
He I mean, look at today we start this.
With crazy, yeah, I'm with him and I can also like, don't like
summer's not over. Like I think some in the US,
like some kids are back in school already.
The Europeans, I mean, August is the month they take off.
I mean, Europeans take like it's three months off, don't worry
about that. But look at this.
This is this morning, brother. What a what a while.
Chart This is the one hour chart.
How are you going to treat? This how are you going to like?
How are you? This is how.
Yeah, you can't. This is insane.
And and Mando mentioned this week is going to be crazy rocky.
So we've got PPI tomorrow, we've got CPI Wednesday, we've got the
jobless claims Thursday and the consumer sentiment Friday.
So there's going to be an event every single day that could
potentially move the move the needle one way or.
Another. Yeah, don't, don't, I mean,
don't fuck this up, right. It's kind of the quote this,
this, this this time around. I'm trying to look through your
through your top 100 saying since.
Well, so I mean, we've already talked to, we've talked to, you
know, we've talked beat bitcoins.
We've I mean, maggot coins. I'd be super careful.
I know, I know Elon's on with, with Trump tonight, but be
careful. Y'all with the, with the Trump
coins? Anything else here that I, that
I, that I, that I went over Tyler?
Did I lose Tyler? I did lose Tyler.
I was wondering why he's not moving.
Look at him. Look at him frozen.
Sam's dead. I'm in a Mando with me right
now. There he is.
There he is, there he. Is yeah.
I won't make you do the arm segment till he's solo.
That is so funny. I was like, shit, don't let,
don't, don't let. I was.
I was asking Tyler, is there, is there anything that you think I
glanced over too fast that we should be covering right now?
I, I can't bring up the P word again, but that's the only other
one. So just go check out their their
their pin tweet. So what's going on with Pack
Moon that maybe I can mention it?
So there's a it's is it today? You think you have till the
14th? OK, that was a little.
Yeah, they put some good content out and like it's notable you
get 10 for one tokens. So like if you had 10,000 tokens
before, you're going to have 100,000.
On this. One day long.
Could you advise? I like that.
I agree. So I think that was a good move.
Interesting. You know, I've seen some FUD
like OK, now you're going to have to compete with a much
bigger pool tokens on Seoul, which is real.
But I mean, the blast meme coin market was just dead.
So like, I mean, it can't be, could be worse.
It it it exactly right. You can't blame founders for
trying something else and you especially going on salon, which
is, you know, kind of the chain right now the cycle.
My only concern is is a lot of people say like, oh, they're
like, oh, but there's 100,000 users holders.
But we talked last week about maybe the Murad way of thinking,
like occults tend to perform better with less holder base and
more control in the hands of a very of a of a of a limited few.
I guess we're about to see. I mean, they are, they are.
They were the biggest fish in the tiny ass pond and now
they're going to be, you know, a smaller fish in, in, in like an
ocean. But I'm I'm very curious and
always going to cheer for that team because I think they're
cool. And also a lot of my friends
have bags. So I hope they hope they do
well. You know, you know, for the
homies, you, you still have some, right?
Yeah, I still have a decent bag myself.
I thought it was probably like I got tweeted this this weekend.
So it's all about I've got like 330,000 tokens, so that'll be
3.2 million, so let's send it to a dollar.
Why not? Pack you know what RB to a
dollar. RB to a dollar.
I rate a dollar. Let's go, let's go.
Maybe I'll pick up a bag in a second on Solana.
I'm going to see first. I'm first going to wait and see
if if there's a sell off and then see if it's if it's worth
coming off. But definitely you'd figure a
lot of people lost money too recently and stolen stuff.
Maybe they want to we talked about it, right?
The trenches were hurt last week, so maybe they want to
recover some some this week, right?
So, so we'll see where that takes us anyways.
All right, well, let's go into our last segment of the day, the
Arbitrum weekly roundup that we haven't there was there was
quite a lot of stuff going on that front from the from, you
know, from Franklin Templeton, from Stables, Arbitrum from,
from, you know, from a lot of stuff going on there.
I mean, Tyler, what do we even start with them?
I guess with Franklin, right? Yeah, the big news is Franklin
Templeton, they launched their on chain U.S. government money
fund FOX on Arbitrum last week. So for a quick reminder,
Franklin Templeton, one of the world's biggest asset managers,
$1.5 trillion in assets under management.
A quick TLDR of this fund launched so FOBXX, they invest
99% of their assets in U.S. government securities, cash and
repurchase agreements with a focus on preserving capital
while capturing yield. It returned 5.2 four, 5.24%
yield in the past year, 3% yield over the past three years.
It's got $490,000,000 in assets at the end of July in this
Arbitrum launch. Part of a wider initiative for
them to to widen their access to retail investors.
I thought the Franklin Templeton head of digital assets, Rodger
Baston had an interesting quote. This is from the Decrypt
article. The cost of using the network
and the resiliency and the scalability of the network are
all factors that we take into consideration when we are
building the wall infrastructure into various blockchain
ecosystems. So shouting out Arbitrum there
for its resiliency and scalability.
And I think, you know, for me zooming in like this is
definitely bullish for Arbitrum and E that investment giants
like Franklin Templeton trust it with launching funds of this
size. And I think strengths like
resiliency, they can only be proven over time.
So that gives the existing L twos with the most TBL like
Arbitrum who had the TBL, who had the history.
I think that gives them a leg up in the race to capture this
tokenization effort. And I think zooming out, I think
the tokenization effort clearly making more progress than maybe
some of us even realize. We we already have tokenized
treasuries at 1.8 billion in size.
A lot of that is due to Blackrock's Biddle fund, which
is paid out seven million in in on chain dividends this year.
It seems the SEC is given their wave of approval and it's big
news for ETH. It's big news for Arbitrum.
Interesting. Yeah, it is big.
I mean, we love Franklin. You know, they're they're
they're they're they're they're great asset manager.
It seems like they're they're going all in on the on this
industry, right. So it's been it's been good to
see they've been running great reports.
You know, they're really leading the charge.
So big fan. Let's see.
It just gives us more access to to on chain products, right?
I feel like this is one of the, the big, there's like the
biggest narratives of what's coming to crypto and you could
buy stables and now you could buy, you know, these funds that
are effectively stables but with 5% yield, right?
So this is more diversification and more serious players.
Yeah, No, that's, that's been good.
And then the other big, big stuff, you know, and there was a
few other little news on Arbitrum last week that we
mentioned on the show, but the other big stuff I saw was the
Orbit chains, right? Can now use USDC as a custom gas
token. I mean that that helps quite a
bit, doesn't it? Yeah.
And so now you're, it doesn't, so you're, they don't have any
different types of DC, which helps it makes it more, it
provides, it creates a more stable environment for the, the
devs and the teams behind these. Because, you know, now you, you,
you control like what guest fees are, right?
You don't have to worry about the, the price of ETH
fluctuating like on a morning like today versus USDC, which is
stable. It it it offers a lot of
liquidity as well. I was looking at stables.
So ARB is just dominating stables on L 245% of stable
coins on L twos are on arbitrome $4.4 billion bases.
Next up with 3 billion and optimism with 1.28.
So pretty significant. Yeah, I mean, there's 50,000 ETH
right on. There's this tweet from AJ
Warner, good friend. There's a, you know, we're now
only nine days into August and there's been an additional
50,000 ETH bridged into Arbitrum, one additional 50K
ETH. That's why, right?
It's huge, Yeah. It's not slowing down.
So I mean it feels like Arbitrum is you know for sure one of the
the leaders, if not like the leader in L twos.
Yeah. I mean when it comes to when it
comes to to TVL, they definitely are up there, right.
They're the the dead leader, right, the second largest heath
holders. And so you're looking at where
is it, Arbitrum, I had it, there it is.
It's fucking $2.67 billion locked on there.
But I mean that dip is because of the broader crypto dip,
right? Like.
I mean, it's all the alt like altcoins have just been trading
over all that shit, right? It's like, I don't think it's
just an arbitrant thing. I think it's everything.
Every single L2, every single one of them, every, every single
altcoin. You know, even most alt L ones
too, brother, right? Besides, Solano have not really
been trading as well. So yeah, the USDC stuff was
pretty good, right? You can they deployed that with
conduit XYZ pretty solid team. So there's there's a lot of
stuff going on. So if you're trying to, you
know, if you're trying to build something, definitely pay
attention to what's going on there because it's interesting.
I always wondered what all these big brains over there with all
this ETH spend it on what's what's the one thing you know,
because they they like to hold their ETH over there.
You know, I want to know what the arbitrary E Wales we're
going to spend their their their ether.
There's all meme coins over there.
How we know? You know, like define they like
yield. I think that's yeah, they.
Like yield right. They like they like the really
right, right to me, like arbitrons, like a really like
right curve chain right in a good way.
You know, they can't all be left curve in the industry.
You know, we probably got Salotta for that.
You know, give me give me some, you know, give me some, some,
some some right curve stuff as well.
All right, well, look, well, look, Tyler, I think I think
it's a good round up. We're coming up on time here.
It was a great show Tomorrow. We got the robot spins, which by
the way, shot the robot our our our sponsors on the show.
They they've reached 5050 right. The bird supply over the
weekend. It just hit.
We mentioned it last week. They were getting close to that,
but the weekend is when it actually hit.
So Congrats to them. And so with that with that with
that, we'll see y'all tomorrow morning, 10:00 AM Eastern
Standard Time for another episode of FOMO Hour on rock
radio. Let's.