Yo-yo, what up? What up?
Good morning. Good morning.
GMG Thursday. Oh yeah, my favorite day of the
week, May 16th, 2020. Look at that.
Another beautiful day to have. A beautiful day.
Oh yeah, another day to have a bunch of inflows.
Bears in disbelief. You love to see.
I love the smell of bears getting smoked on the grill in
the morning. I got my Co host in the house,
Tyler. I was going to say OK Tyler I
was. So I was like I got my Co host
in the house. Tyler Mendo, How you guys doing
this morning? Good, man.
It's Green Day. And guess what?
There's actually news to talk about.
Let's talk about Fantasy Top for for 90 minutes today.
And I'm excited about that. There's.
Actually, a lot of stuff to cover today.
You absolutely love to see that, Mando.
How you doing? I'm doing great, man.
Yeah, another good day. Yeah, yeah.
Another very good day. I mean, I'm opening the show
this morning and everything's up aside from Etherium and with,
but that's OK, That's another conversation, I'm sure.
Well, I'm sure we'll we'll we'll get to that.
Anyways, today on the show today, let me pin this and I'll
post a broadcast in a second. Just a reminder, reminder,
Reminder, 'cause I know we picked up some folks from from
your show. Tyler, we're live every single
day, Monday to Friday, 10:00 AM to 10:50 and we put we're live
on video and audio. So if you go to YouTube, if you
want to watch on YouTube directly, you can catch us on
the rock video, YouTube. Just search rock radio or
whatever. We're live on balance, live
every morning and we're also live every single day on X.
So we usually post a broadcast link on the phone wire account,
myself, Mando, Tyler as soon as as soon as we have it.
So I'm posting it right now so you can catch us live on video,
which usually is an experience that's in my opinion like 10
times better than audio only, but of course depends on the
person. Anyways, today on the show,
today, today, daily market report, crypto macro, all that
good stuff ETF seeing $300 million of inflows highest in
weeks We'd love to see. It looks like we're going to be
into for more crypto totally pumped for one reason.
One reason only. Andrew Tate announced that he
will be moving his wealth of $100 million into into Bitcoin,
right? So that's totally why we pumped
yesterday. Sources.
Trust me, bro. Salvador owned 6000 ETH.
Now Bitcoin. Sorry, definitely not ETH.
That would put like $6000 on the balance sheet.
Anyway, Salvador owns a lot of Bitcoin.
Millennium, one of the biggest hedge funds in the world.
Put 3% of the of the book in the in Bitcoin ETFs.
Yeah, and you're selling your Bitcoin Aenon.
Anyways, we have a bunch of stuff on that front.
Alts, memes and dreams. I mean, we're going to have a
conversation today about two things.
NF TS. We got to catch up on NF TS.
It's been a while and we got like the the master of all these
stats on on the show with us now.
So Tyler can run us through that.
But also Blast, I saw Mando, you put a tweet out this morning
about the Wells markets and also behind the scenes in the Stewie,
we're having this conversation about BLAST.
What happens now? What are the predictions?
Is this bullish, is this bearish?
So I think it'll be good to have a more like organized combo
around like BLAST and then of course where we're at in terms
of NFTS and of course some memes we'll we'll we'll mention that
are that are definitely doing pretty good as well as the
ordinals run side that had quite the quite the pump yesterday.
And then last but not least we'll be joined by show partner
today city verse city Verse which is actually pretty
freaking cool. They'll be joining us on audio
only but I'll show some stuff on the screen as well think on
chain think Monopoly hell yeah love to see that.
Anyways, as usual this show is presented by Mumpay by Style
Crypto with PayPal down the Moon pay app and and and and fair
side network wallet coverage for drain scams and more.
So here's the deal, you buy your crypto on moon pay on PayPal
using the moon pay app right? Super easy but then but then you
got to insure it insure your shit right because you you're
getting super rich using all this crypto stuff.
Make sure you get well insurance with fair side network.
But anyways anyways anyways I definitely want to get into the
market part because it's actually fun.
I look at price. Good price.
Can you dig it? Yeah, GM look, good day.
We finally broke out of that Channel.
We had a kind of benign figure for CPI and then just some
decent inflows seemed to come in straight after it.
So we got 300 million of inflows.
Again that was the highest in in weeks.
Interestingly it wasn't really driven by BlackRock, it was
driven by fidelity today. But yeah, just a very, very big
inflow day and and Bitcoin kind of led the charge I think.
Bitcoin was up about 7% at once, says yesterday.
And most things started to follow I would say.
So Solana was the main thing, Theorem didn't really.
It's still kind of where we actually were on the show
yesterday now, right? Like it's it's kind of fully
kind of come back to where where it was when we were doing the
show or there or thereabouts maybe like one 1% higher, but
which is kind of as predicted And then you had memes has been
a bit of a mixed bag. I would say like Pepe and Whiff
haven't really done that well, but a bunch of Solana meme coins
kind of bounced significantly. You had a bunch of the ones
related to the to Tramp Trump load and they all bounced after
the debates were announced. A decent amount, but yeah, kind
of a mixed bag for mean coins. And then you had a bunch of
altcoins also move. So just a stronger day.
It still feels like Bitcoin was probably the biggest winner.
Beta adjusted there yesterday on all those different inflows, I
don't really think there's really that much to add on a
macro side. We said, you know, there's
nothing else showing up in the data which says that, you know,
crypto should be singularly lower.
You saw stocks hit all time highs yesterday and I believe
they've hit all time highs again today already.
So just a strong period. Yeah, they're they're higher
again today. So yeah, just a strong period
for for global markets, which has helped bitcoins reacted the
best, I feel like probably alongside Solana.
And then you've had a bunch of altcoins which have kind of
risen, I say, from the dead really over the last 24 hours.
And I would say meme coins has been a mixed bag.
Weirdly, some of the bigger meme coins haven't done as well over
the last 24 hours. Yeah, it is, it is interesting.
Look, love to see Bitcoin here back above $66,000.
What do we peak at this time around?
It was 66, four I think this morning from 61.
So huge, huge sentiment shift on the timeline.
Who could have, who could have known?
Who could have known? Listen, if you listen to this
show, you know we're we're pretty bullish.
I mean Manda was out here. Was it Tuesday?
You were like, dude, everything's doing good.
Gold is doing good. You know, the markets are doing
good. They're hitting all time highs
every single day. And you know, you said you don't
agree with the sentiment and and look at what happens.
Just what was it 24 hours later and then back-to-back another 24
hours later and here we are above $66,000.
We're pretty comfy on the theorem side though.
Mando, what what do you think of the theorem trade here?
I mean it's it's looks like it's, you know, quite lagging.
Of course the ECM, the ECTF, right, is majorly, most people
are saying denial. Obviously we don't know yet, but
it's pretty much leading that way.
So that's not priced in at this stage.
What what do you think of the Ethereum trade here?
Because it's affecting a lot of other coins like L twos, right?
Yeah, Soul EVE and Bitcoin EVE both had retraced slightly and
then they they bounced pretty aggressively.
So I think Solano is up about 20% over the last week versus
Bitcoin versus EVE. Yeah.
So look at that like that we're right back to the local highs
there and it feels like that could maybe even push on for and
Bitcoin ETH similarly it looks yeah but yeah normally look at
people look at the inverse but yeah it's it's not.
Like, ETC. There you go.
Sorry.
Boom. Oh, wow.
Like, that's just a horrific chart.
So I think if you're an ETH, ETH Maxi right now it's been a very
painful period because you just don't the periods of the periods
of two of it outperforming just haven't really remained and
that's that's seems to be a persistent thing.
So I look at, I look at strength on these sort of days, you know
like you look at strength after a period of weakness what bounce
is the strongest and I like I'm probably going to like those
coins. So I definitely, I definitely
looked at that. I think the E*Trade is very
difficult. I'm I'm largely out of it.
I have some, and every time I'm in it, I feel like it's going to
be the rebound. Like I know it because I kind of
tricked myself into being like, Oh yeah, this is the time.
And then it just never really rebounds.
Rebounds for like more than two, three days.
Like I'm and. It was like, right, this is the
time. And then it just rugs you again.
It just rugs you. So I'm very frustrated.
I think a lot of people are frustrated by that trade right
now. It was funny.
I feel like this whole cycle, this has been the trend.
Remember like we used to you and I like talk with OV about like
how we try the long ETH and it was just like bashing your head
against the wall. It was like we used to try.
We've tried this long so many times at the beginning of the
cycle and it just never took off.
And then eventually of course ETH caught up to like Solana
going much higher in Bitcoin. But that ETH trade has been
tough. How do you think this affects
the entire ecosystem? And like and then of course
we're going to have go deeper into the whole blast
conversation on the show today. But like, how do you how do you
think this effects everything else?
Man, it's it seems to trickling to be trickling down to a lot of
the coins, right? Yeah, I think ETH ETH not doing
well is probably not great for crypto because it has a really
big ecosystem at the same time and it's affected a lot of
different coins. So at the moment like this bull
market has really been for Solana and meme coins and
Bitcoin not not much else has really caught up because a lot
of other stuff is related to ETH.
So it's been it's been a relatively painful one.
I I think it's frustrating. I think it it points to a
difficulty in long term crypto investing in that people like
even with Solana right now. I know everyone's like Max blows
on Solana, but you have to understand the logic.
Could also mean that you know next cycle Solana also gets
challenged. It is next.
Cycle, new chain. So I think it's something to be
said about that. I felt like that when we were
investing, investing in NFTS like you want long term winners,
but when you're at like the bleeding edge of tech, then
sometimes those winners just can't keep up.
It's also not like investing in Apple or Google or something
like that, who can, like, reinvent themselves and perhaps
keep up. These like L ones are slow and
moving beasts. Like how long did it take for
ETH to do, like, its upgrades? And by the time it's starting to
execute on the plan that it kind of has had for multiple,
multiple years, it suddenly kind of seems behind the game.
Do you know what I mean? Like it's suddenly like, well,
yeah, the L2 infrastructure is being built out, but then
there's not enough users, so the burn hasn't kept up.
So now you have an inflationary asset again.
It's like so this is something to be aware of.
Bitcoin is the only real thing that continues to survive each
cycle and and and kind of go from strength to strength.
So I'm not saying it's the death of EVE.
I think you can still be very bullish on EVE, but I think it
points to the idea that block chains at least L ones are they
can be quite transitory in their outperformance and by transitory
that could be years. You know, EVE had a long, long
run, but now it looks vulnerable.
And in the same way that I'm super bullish on Solana right
now, I also think that it leaves itself open to us having a new
nice blockchain to trade around with in a few years.
And I think you just can't be blind to that sort of stuff.
So yeah, that's where I'm at. We're down to 10% chance on Poly
markets for for for the theory of TF to to get what happens.
If it gets approved what happens.
Listen we can still run with that narrative until May 23rd
right guys like it's May 23rd or 30.
I know this says by 31st but isn't 23rd the actual deadline
date I think that's what it is right.
Do you guys know like I'm not sure I I saw something about May
23rd, but but I'm not too sure if theorem ETF deadlines I'm not
too sure. Some we might hear, we might
hear just beforehand. You know how it is, no?
10% dude. Now now the bets getting more
interesting. I also saw this other thing was
well Ethereum hit an all time high in 2024 and the markets are
pricing that 38% chance. What do you guys think Tyler?
What do you think? Is ETH hitting an all time high
in 2024? I mean it, it depends on how
bullish you are on on Bitcoin in 2024 I think was it Bitcoin runs
decently enough past its all time high.
I'm I'm trying to think of the ratios that bitcoin's going to
have to get to for ETH to get to an you, you basically are going
to need Bitcoin what at 100,000 in 2024 for ETH to get to an all
time high realistically? Tough.
What is ETH no longer ultrasound money?
What? What happened?
What? What?
I think that's part of the problem.
Like the narratives keep changing, right?
And I think the narratives are so important.
And ETH was programmable money and then it was ultrasound money
and now it's it's restaking and it it it feels like the
narrative gets a little bit weaker every time.
And you know, perhaps this is narrative following price
action. But Solana is very simple.
It's it's the retail chain, it's the detail chain, it's the
casino. Bitcoin is digital goals and
it's and it's backed by the the ETFs.
Now those are very simple to explain to to to normal, to
normies, to friends. To get them to understand why to
potentially invest and they feel like ETH is trickier now.
Yeah, well, I I didn't know that we actually, we actually have
been so inflationary for the last wow this, this last 30 days
40,000. Since danken, basically it's.
Gone. Because of that, it moves a lot
of the revenue or at least the the.
Cost. Of reduce to the LT's, yeah.
Yeah that's interesting. I I haven't, I haven't even I
haven't really been paying attention.
I would personally love for an ETH like rate like pump here
because we'd be hated rally type of thing and a lot of people
would be really annoyed at it because I I I don't know I'm in
a position where it's like people are beating a dead horse
on the timeline right now with with Ethereum and and actually
even Mert actually even Mert and I know he goes back and forth
with Evan on the timeline and they make they poke fun at each
other. But I think even Mert put a like
like he put a tweet out saying The hilarious thing is here is
our theorem has improved the ton as a network in the past year,
yet now everyone is judging it based on price action.
Exactly what falsely happened to Solana after FTX.
Ignore CT and think for yourself.
Like even Mert OK is out here like positive tweeting about
Etherium while the timeline is seemingly extremely bearish on
what's going on. Said There was really important,
like the the idea that it went to this digital gold narrative,
like ultrasound money, I thought was like a was the mistake,
essentially because everyone sat there and was like, this is
going to be better than Bitcoin. And actually the strongest
narrative for ether is that it was digital money, that people
used it right? That people were doing
everything on it and it wasn't just like we stake it or we like
people were using it as money. And I think that moved.
And during that process ETH was like ETH Maxis were like it's
fine, we don't mind like we've still got this like it's going
to be better than Bitcoin sort of gold narrative.
And what it needs to get back to is it being the casino, like the
actual throughput of of funds has got to be much higher.
Like it's been protected by the fact it has a very high TVL but
very little gets done. So we even with that TBL like
Salon is doing more volume with a fraction of the TBL.
So that just tells you that it's like it's not really being used
as money, it's being used as a savings account.
And I just think that that's where it needs to move away
from. Yeah that whole like ETH like is
like gold narrative is just not. It's like digital oil, right?
That that's that's I think this is the way you're supposed to
see it but but but the the chain is getting a lot of use, right.
You some people think gas is low.
Chain's not getting a lot of use like it is but it's just getting
it through L twos like Arbitrum and base and everything.
Like you know what happened to the base narrative Like
everybody was super bullish on base including myself and now
what? Like you're not like base.
There's still a lot of stuff happening on base, right.
Like Forecaster didn't die overnight.
Frantec is still going on actually a price or friend was
up quite a bit today and you and like blast, like we'll talk
about blast, but blast, I think people forget that blast is an
Ethereum L2 like maybe because it's a different casino and
people are not used to seeing a casino on Ethereum or forgot
what the casino's like. And also remember like Pepe Mog,
like Mog was top gainer, right yesterday Mando Mog saw quite a
quite a pump on the on the daily which was actually pretty
impressive it's it reaches a little bit today but you know we
saw quite a quite a pump to what 280 mil, I think it's at at the
height somebody is 2/2/75. So that's just in theorem chick
corn, right. Pepe is saying like we were
talking about Pepe the day before.
Pepe went all the way up to nearly $5 billion now with a
slight retracement down to 415, that's also Ethereum.
So there's a lot of stuff happening on Ethereum.
I just think it's the overall narrative that's and like the
sentiment that's slow and clearly we are so early, the
sentiments are enough to to to guide where the price is going.
Anyways, quickly on the Bitcoin stuff.
I mean we we saw a big info number man though $300 million
yesterday. Do you reckon this is gonna
gonna continue here? Cuz it's a pretty positive
change. Oh, it beated I think automated
to do so weird. Yeah, I don't know.
It's it's difficult to tell like I'm I'm more looking for the
trend and if we have a positive week this week then I think
people will, we'll come back. So I don't necessarily think on
a daily basis you can predict it, but if we have a like a
decently positive week, I think people will be like, well that
was the dip and they'll get back in.
OK, that's that's good to know anyway, So that's that.
So we'll keep that much in touch.
One thing that happened, I think it was yesterday during the show
Millennium $2 billion bet on Bitcoin ETF.
So again, like more institutional confidence, right,
guys like we talked about Wisconsin.
We talked actually not only Wisconsin, I got a new one for
you guys today, Oklahoma. Oh, let's go.
Yeah, Oklahoma. I saw it on the crypt this
morning. Oklahoma enshrined S Bitcoin
self custody as a right as a human right.
Listen, it's pretty bullish. I I gotta say like I I haven't.
Don't worry. I have a tweet going out for my
for my card holders. Tyler's pretty good.
But you got it. Tyler's like, come on, you gotta
get tweeting, bro. I'm gonna, I'm gonna have to
leave the show anyway. So Bitcoin self custody
enshrined as a right in in in Oklahoma, which I thought was
pretty good. You have the state of Wisconsin,
that's it's not 100 mil by the way.
It's $163 million of exposure to different Bitcoin ETF with
iShares I bet, etcetera. But then you have the Democratic
Party and the SEC trying to start a war on crypto.
So it seems like even within the United States now, there are
some states that are kind of like going their own way.
Right. It's that's how it works, right,
Tyler? Like states can kind of like
make their own laws. Yeah, exactly.
And like it makes it very interesting if some states kind
of see the the picture here and then want to turn pro crypto.
I mean it's part of the reason like folks are worried of like
the crypto brain drain folks you know going to other countries to
to to to launch their companies if they're able, if they feel
like they've got the ability to do that in certain States and
they're going to be protected. That's interesting.
And I mean it's, it's a big market, right.
So I can absolutely see that trend.
It's awesome. So Oklahoma has become the first
US state to pass a law protecting the right to self
custody, Bitcoin. The new law says citizens cannot
be prevented from holding and controlling digital assets under
a hardware using a hardware wallet.
It is. It also says that the state
government cannot ban or restrict the use of crypto to
purchase legal goods and services.
I guess it's actually like, is it me?
It's kind of a big deal, no? Like, I think it's pretty damn
big. Yeah.
I mean if you if you feel like this is the national
progression, the risk of of where that this current
administration is trying to go like this is where they're
they're potentially trying to go right that that that is the
concern. So, I mean, Oklahoma's getting
out in front of it, and they. Have a good basketball team
though. That's how I know the United
States like the States of America as per their sports
team. So you guys have the OKC Thunder
over there, if I'm not mistaken. Oklahoma State Thunder.
They've got great college sports in Oklahoma as well.
There you go. They're down, though, against
the Mavs. I Googled that, but it's OK.
I I did bet on OKC a few times. They're they're they're pretty
good. They're pretty good.
Anyways, I thought that was pretty cool.
It's called Bitcoin rights Bill. HB3594 was signed into law by
Oklahoma's Republican governor Kevin Sit State on Monday and
the nonprofit Satoshi Action Fund says more states will
follow suit. I think that at the end of the
day lawmakers across the country are very open to this type of
policy. Is the USA flipping bullish?
We'll see. But of course that has a lot to
do with with the elections that are up and coming which I don't
know how I feel about this like crypto thing becoming like the
main point of of like like I saw you know what actually Mando, I
know you're a Novo fan and and so am I.
And I think Tyler, you a Novo Grats fan.
Yes. No you are.
OK awesome. We like Novo Grats.
But you know I want to show you guys this clip of of Novo that
do this post. Candidate Trump came out and
said I'm going to be the crypto president.
He got on stage with a guy named Ryan Selkis, who's a big guy in
the crypto community and said, you know, there's enough people
that like crypto that I'm going to support crypto.
So in one day you had one candidate saying crypto good and
one candidate saying crypto bad. And I got on TV today.
I was like, it's kind of like the Democrats went out and said
we don't like dogs. There are more crypto owners in
America than there are dog. Owners.
Like 65 million people on the dog. 85 million people own
crypto Ex. President and and candidate
Trump. Hey, how good is that clip?
I saw it right before the show and I was like, I got to come
and play it and what a great way.
I love how Novo just works. We got to get Novo on this show,
man. We got to get Novo.
He is a big yeah, let's, let's ask Mike.
Let's ask Mike. Let's ask Mike.
Let's see if if if if our friend over there Joseph Lubin maybe
can like pull a little thing. You know they were roommates in
in college. She's pretty sick.
Anyways, there are more owners of crypto in America than there
are dog owners and he say it's like as if Democratic Democratic
Party is coming out and saying I don't like dogs.
I thought I thought that was great.
So anyways that's that on the on the, on the macro level you know
there was also like you know Fed reserve Kashkari, you know touch
comparing Bitcoin to Beanie babies which makes no sense.
And then the biggest kol on on on X, Andrew Tate saying I know
I'm not supposed to do this in the chaotic times but I'm about
to leave Fiat completely in ape over $100 million into Bitcoin.
Does this guy even have $100 million?
I don't even know. I don't even know what he does.
I just know he's really big on social platforms to this date.
I still don't know what Andrew does.
I just know he was hating on crypto crypto Bros and NFTS for
the longest time and now flip bullish.
I guess it's good because you guys talking, we talk about
retail coming in. Andrew Tate has got a whole
bunch of retail like dudes that are just waiting to jump off a
bridge if he tells them to. So if he tells them to buy
Bitcoin, I may be with please and then they're probably going
to do that anyways. So let's let's let's let's move
into the second part of the conversation here which is
BLAST. I mean Tyler, I'm a hand this
off to you. Why don't you run us to the
latest latest stuff. What is going on with BLAST.
Of course I saw the the well market stuff that Mando posted
there was a delayed June 26th for for TGE.
So, So what? What's the TLDR here?
And what's happening on Blast? Yeah, major announcement from
Blast yesterday, they pushed the AirDrop date to June 26th.
It came along with three key components.
So they are going to increase the AirDrop allocation due to
the delay they announced there were there will be two more DAP
Blast Gold distributions that was a big unknown ahead of the
AirDrop and then Blur season three will end on June 26th as
well. So effectively extended until
then. So, so basically the team here
confirmed dilution of Blast Gold.
We don't know exactly how much but folks are already starting
to speculate. So Sam Mt stats, he's already
dropped his Blast Gold estimate from $10 to $6 and basically his
assumptions that he used is he's assuming that the Blast Gold
supply is going to increase from 56 million to 100 million, so
nearly 100% increase. Here he is adjusting his AirDrop
allocation from 5% to 6% for the the blast gold aspect.
I believe he's he's saying 15% total tokens at at tge will be a
part of the AirDrop if you're trying to do the the market cap
math. And then he also lowered his
FTV. So he was I mean some would say
he was leaning bullish. He had the blast FTV target at
12 billion. He did reduce it to 10 billion
kind of tied to broader state of the market how Ethereum L twos
have been performing. So again reducing it from 5:50
if you look at the bar chart that he posted, I mean.
This one. It it's brutal.
There's another one, if you go back to his page, maybe Scroll
down a little bit more, yeah, to keep going a little bit more,
there it is. So like this is the progression
of his blast goal. So he at one point he had it at
18 and 12:00 and 10:00 and 6:00 and so everyone's got the
straight line bias and saying OK the next time he updates this
it's going to be 3 and then it's going to be one and then it's
going to be 0. So that is a part of the
concern. We've seen some market response
already. So, so PAC Moon, the PAC token
immediately jumped 18% on this news.
I think primarily because people are speculating it's going to
continue. It has a greater chance to hit
these jackpots which are now we know going to run until June
26th. Fancy Top also was a winner
here. That floor rebounded after a
recent dip that I think that the broader picture here is daps are
winners, right? So daps are going to get more
gold. They now have another six weeks
to continue to lure users, improve on their products and
try to get a stickier user base. Fancy Top was the number two
winner in blast Gold allotment on the last distribution.
So many think they are going to continue to large allotments.
So those prize pools are going to continue and likely get
bigger. I think folks who who've been
chasing the jackpot, they're winners in all this as well.
I think the primary losers are the the early farmers, you know,
they they're getting diluted to hell here.
That's what I'm getting out of it.
It seems like a lot of farmers are quite unhappy about all
that. Like, I was thinking like I was
kind of talking with Olga Bud this morning.
It feels like on the whale side they're good.
The new like people like me who just came in just to get a few
gold through Fantasy Top, like I already hit the jackpot twice.
You know what I mean? It's like and I I'm a tourist
when it comes to blast. Like I've not.
No shame in saying that. I only came to through Fantasy
Top. It's the only thing I like.
And Mando, you seem really bullish on Pac-Man as well.
So it seems like the people hit on Pacman twice already.
Pacman probably most likely to keep hitting while going up is
is what's happening. So what?
What? What is, What is, what is?
What? Is this the play then?
Tyler? What?
What's the play on blast at the moment?
How does someone approach that right 'cause I saw some people
write under the comments last show saying is it too late?
But clearly it's not right. Yeah, I don't think it's too
late. I really just dove in personally
about like three, 3-4 weeks ago. I've been forcing I I got the
pack moon air drops because I was posting about that.
I got pretty sizable so I got lucky there.
You know I've hit a few jackpots since then.
I think the the question you have to ask yourself is how
active versus passive, you know do you want to approach this so
you know passively you can stake Ethan some of the the the
leading protocols like thruster wasabi who have huge rewards or
you know you can just buy positions and tokens and and put
them in your jackpot deck and and try to to get lucky and and
guess what that's fun. Like sweating the jackpot wheel
every day and seeing who the winners are.
It is kind of a fun way to farm this.
The reality is Fancy Tops going to be around longer now like
there's been a lot of questions on what is their duration of
success and like attention on the timeline.
It is now at least until June 26th, their their prize pools
are going to be huge and people are going to continue to play.
So I think that is another game Social Fi network that you're
going to be able to participate in if you have Social Fi
District one. It is also going to be an option
that continue to be the top of the leaderboard.
I think what's great about that, how this blast gold allocation
has been is it gives you a playbook basically like every
time they do an allotment they show you exactly which dapps
get. You know how much gold, you can
see how much has been distributed at at any given
point in time. And like you can you can kind of
pick and choose like you you can see that the road map you can
see the apps you can see like does that fit kind of like my my
trading strategy like where where I'm at and then choose to
to go play in those areas. What do you So what do you so
you think like just playing the games on the daps is the move
like District one? What do you think of Ole?
Is it Ole? Ole Is that the token for
District 1? Ole is the District 1 token.
I mean, it's gotta hit the jackpot.
I haven't been doing District 1 from a social fight standpoint.
It's just a little bit burned out from from fintech and and
all these things. But it clearly has a cohort.
If you are more active then that is an opportunity.
I mean Deez, Deez has been super active in it, but he also says
he's he like logs in four times a day, does these rallies so
that that's a more active farm. For sure.
I like the tokens and and playing the jackpot, it's a
little bit more degenerate, but I mean, some of these meme coins
are going to win, right? Some of these tokens are going
to win the Blast ecosystem if you think BLAST is going to be
around for a bit. So I think there is like there
is some upside in the tokens and you have the the farming
opportunity from there. Like I I'm not super deep in
like going through all 50 protocols and and kind of
logging in and doing an hour farming per day.
So you probably want to look for like Gen. or folks like that for
more of that specific alpha. OK, what do you what do you what
do you think of all that Mega? Like how are you playing Blast?
Just PAC Moon. That's it.
Yeah, for me it's like it's such a hated coin now.
It's like for a lot of people, well, but for people who are
playing the blast thing for as long as possible, like I think a
lot of people got annoyed about it.
And I think just objectively it's just makes the most sense.
Like a lot of the other things you can do are like negative EV
or it costs a lot of time. Like why would I not just earn a
coin which could win the lottery the whole time?
It, it feels as though the price action probably could be a bit
mixed going into the actual AirDrop because you can see it
dropping, but I don't know, I think I think it could still be
a decent one and I'm already up on that trade.
So that's just that's the way that I've played it.
I think. I think that the estimations for
gold are probably still too high, mainly.
So what do you think that what's your prediction?
I put a pull out this. Morning.
It's a $10 billion coin basically and I think the only
risk here for but not nothing crazily different.
But I still think that's too high.
Like I would have guessed it was, it was going to come below
arbitrum. So I would have guessed between
5 to 8 million because just on the number of transactions, the
TBL, all that sort of stuff, but at the same time.
So I would have predicted maybe I don't know where that puts it,
but maybe 4 maybe. Does that make it if I if I'm
like a third lower than Sam on on some of those predictions and
then I'm sure? It's.
That huge is that Evo has it trading at at like 3.75 which no
one mentions, but they were mentioning it when it was
trading at 12. Well dude, we only share, well,
market screenshots, Mando. When?
When it sits in there, no. No word recently, but yeah,
it's, it's, I mean that's been going since December.
So that's been like an active market for a while, right.
It's not like it's been, it's suddenly just come up.
So yeah, I I just think that knowing how this has gone before
it can I just think it he'll keep the the Ponzi going
potentially is number one thing like you could even see a delay
again. And secondly, I just, I just
think that people are too bullish on an L2 at 10 billion.
Like I just don't, I just don't see the buyer of that at 10,
let's put it that way like it can, it can launch there and be
there for like a day or two. But then who's coming in and
being like I really want to buy an L2 at 10 billion.
I don't know who that person is in this market right now because
it's and it's nothing to do with BLAST like it's even has quite
an active community about it. But like, take a step back,
Forget that you've heard about BLAST 4, someone said, hey,
we're bringing on L2, L2 coins. Everyone's been absolutely
smoked. It's massively like down on the
year, OP optimal down 3040% on the year, like it's been one of
the worst performing sectors of crypto.
Very true. So if you come in here and be
like I'm bullish at 10 billion on L2, like I don't know, I
don't know who buys that other than everyone marks their book
up at that level. So that's why I'm not bullish on
it, not that I'm not bullish on it.
If it launches an L1, I'd even be more bullish.
Oh wow. I was.
Trading under a dollar. What's?
Yeah, I was. Trading at 9.6 billion OPI mean
optimism. Why is optimism?
I don't know. Why is it not part of the huh.
Let's see what is optimism trading at Well, it's down
again. Again, it's trading at marking
up 24. Yeah, yeah, look at that year to
date, you know none, none of them are looking pretty good on
the year to date. You think you think so?
You're saying BLAST would be better off as now one?
I just think that you have to question, yeah, that I've and I
think the only issue I've had with blast from the from the
start is that it's a Ponzi, but everything is related to blast
token. So if that token comes in lower
than people expected to, like, there's a lot of stuff going on,
but actually it's a lot of stuff going on around farming the
token, right? Like if people are just doing
shit to get points, they're not actually like some of the stuff
has been fun. I think fantasy people have had
some, but some people are just like, right, this gets me gold.
And my question is if, if that comes in even slightly below
people's expectations, let's let's say, let's just live in a
world where it comes in at 6 billion and your gold is worth
four or something around that, right?
Does does it all become less fun?
Like, like is it? I mean, do people stick around?
Do people go like, I don't know the answer to that question
because I think they he could create like a even bigger second
Ponzi. But I do think that you have to
understand that the whole ecosystem right now is really to
that one figure, and that one figure is the price of blast
when it comes out. If the price of blast
disappoints in any way, this thing's at a big risk.
And I I think that's not the same for a lot of other things
in the space, like Solana meme coins don't need the price of
Salat, like it's unrelated to that, People are de gening
unrelated to that, whereas everything on the blast
blockchain is basically distilled down to what is the
price of blast. And I think that's that's the
the risk. What do you think?
What do you think, Tyler? What's?
That's all fair, but he he had to do it right.
Like he had to have the incentives on his L2 to get
folks to come and build. And I would say a month ago, I
felt exactly like this. My entire thought was like, only
mercenary farmers are using this blockchain.
No one cares. There's no culture, no
community. But what he did is he bought
himself some time and then in that time, like there have been
successful apps now launched on blast.
I mean, you've got folks like myself through a guy.
We're running spaces slowly talking about Fantasy top right
now. Like, when's the last time you
saw a space running for for days about something happening on
Arbitrome or optimism? I mean, really the last one was
probably the fintech craze for for base, you know, back six
months. So he's got lightning in a
bottle. He bought himself some, some
runway. Now he has more runway and
there's still so much money up for grabs and I think Sam and he
posted the the TBL charts. I think TBL is going to keep
pumping in. I think we'll see an increase in
the next six weeks. So many folks feel like they've
been late to the game. Now they see the playbook.
I I don't know. I I I still see some some
potential upside here. There's also I saw Wolf game, I
think moved to to Blast. There's been some really
positive sentiment around that, like the token went up, like, I
don't even know how much. So the wolf token, right.
So Wolf games all around and doing pretty well, it seems.
So they're moving everything in a blast, right?
Like, is it, is that what's happening?
The assets, everything is that. They're just migrating.
They're migrating. I actually don't know that the
full insurance and outs of I think their announcement was a
little bit just high level, but it it got people going right and
it's a new ecosystem and you can earn yield on your ETH while
you're over there. I think that's the other part of
this and I feel like it gets overlooked so much.
I think one of the differentiators from BLAST and
other L twos is the native yield, right.
And if you don't really have much plans for your money for
your savings as as me know was talking about earlier in the
show, why not park it on blast, right and earn your 4% and then
you can earn some of these points on top of it.
And points are going to continue.
It's just it's it's free money and as long as there's capital
there, folks are going to continue to build.
So I think that's the bulk case. Yeah, I see what you mean.
Look, you guys mentioned arbitrary.
Well, hopefully what we got coming up is going to bring
attention to that. But but besides that though, I
don't see there's not like social Fi being built on there,
right or on OP like well, optimism, you could say like
there's Bass, it's like all that stuff.
So you could make the argument about optimism which was like
Bass and then you have like Rd., Forecaster and and Frontech for
Blast. Obviously you have a lot going
on between the Wolf game, Shout Zombie who just sent this to me.
I had seen the news, I just forgot it's overlooked it's
shout Zombie and the Wolf game folks are always on top of it,
sent me that mid show and you have Fantasy top, which of
course still leading. I mean tomorrow you have a
common tournament, you have a tournament going on right now
that ends tomorrow. Like it's it's leading like all
the conversation narrative right now, right.
So that's why we all talk about gold.
So much. Like on this show, even.
Like the blast guy was really OV, right?
It was never really Mando and I was really OV.
But we're still like really have to cover it because any move
Pac-Man makes makes wave in the industry right now, right?
Like his tweet that he made this morning and everything as well.
So people are still very much following that close to just one
last thing I want to go over and then we'll get to our guest
here, City versus Tycoon. I see them on stage.
Tyler, what is going on in the NFT world?
I mean, I have not opened the D gen's screen in a while because
I when prices are down, I was just scared to look at them.
But you know what? I'm going to do it.
I'm going to do it, Tyler. I'm going to open the NFC page
on D gen's dot finance and and and run me through what an
autoglyph? No, I can't.
Oh no, it's different. It's not autolith.
What's going on in the world of NFTS Tyler?
NTS Well, it's not that bad. So I I I shared some thoughts
yesterday. In general state of the market,
I think NFTS have been a punching bag for a large part of
the last two years. Many think that meme coins have
have supplanted them and they are the shiny new object for
this next cycle. I don't think they're
necessarily wrong, but there are still some reasons to be excited
across the the different blockchains and NFT ecosystems.
So I kind of went around the horn taking a look at E Bitcoin
Soul and blast give it a health check and then and kind of the
the current catalyst. So taking a look at EVE
basically we we bottomed last fall right we we saw an increase
in the early 2024 then a dip now a little bit of a rebound.
It it feels like it's the NTS are in a holding pattern
basically waiting for Blast for Blur farming to end and then to
see OK when the when the hammer finally drops what is going to
happen the majors are are doing OK like punks are holding up 40
right like that that's not a bad number that's still $120,000.
Each of the majors have their own catalyst so that the board
ape leadership. You know they're they're they're
tightening strings like they're going back to grassroots pudgies
have toys in infinite runway it seems now along with potential
Token Azuki has their token meme line has their launchpad doodles
have been cooking. So there's reasons to have some
excitement for all the majors there.
But it still feels like no one's coming in or making any major
moves until we figure out, you know what happens at the end of
Blur season three and now that's pushed out another four weeks so
it's likely going to be more of this consolidation.
Until then, that's my read on ETH we we can go over to
Bitcoin, or we can dive in deeper to.
To the IT looks like we had quite a nice jump yesterday on
the Bitcoin Eco. We needed it because momentum
had been down only. So this was another one where
the the first few months of 2024 over on Bitcoin entities were
were euphoric, right? We saw node monkeys get all the
way to like .9 Bitcoin. We saw the insane puppets run
and really the last month has been you know pretty down only.
And you know I think folks are starting to be a little bit more
concerned like did we fall for the 2021 arc again or is it
actually different on on Bitcoin with ordinals and perhaps ruins.
I think for me it still boils down to they are ordinals rooms
are the only real levered bets on Bitcoin right now from from
an asset perspective. So if you want to accumulate
more, these are the assets you can play with and we know
infrastructure is coming. Audi and team our our building
with with OPCAT, you know we've got teams like the juice finance
and renebo team. They're building telegram bots
for runes and a whole lot more is coming over there.
It's going to get easier to trade.
We're going to see more development and I I still think
that the wealth effect of Bitcoin is probably The X Factor
here. So Bitcoin does surge to 75 KA
100K folks are feeling wealthier or we're going to see similar to
the the 2021 Ethereum and tea run and there are a lot of
similarities If you remember back to that 2021 run it like
May and June were so painful. I I think I actually left the
the empty space I just went to like farm defy and then I came
back in in in June and that's when board aid I think Father's
Day weekend in June is when board just made their first run
from like 2 to to five or six eve and that's father.
'S Day Father's Day This year do something for our bags.
OK. We're betting on Father's Day
and you guys are both dads. So we're we're betting on both
your your days for that. That's a that that's a good one.
I mean I'd love to see the puppets you know jump from what
point 15 to .21 Rune Pops actually you told you tweeted
you put a great tweet out about Rune Pops that had the huge jump
yesterday right? 90 percent, 90%.
So to me, like I I like that because I see Bitcoin running
and I obviously want my coins to run with Bitcoin, right.
And sold my soul stuff to run with Bitcoin like which
obviously yesterday was not exciting to see whiff not follow
Solana but hey my duck quacked with soul.
But for example on Bitcoin I saw you know pups which a lot of
people were like calling dead and ruins because the whole
narrative for ruins like no what now what are we doing now.
Like it was even the conversation I had in Hong Kong
with people was like OK, cool. Like Ruins was hyped every
consensus that we all over hyped it a little bit and right and it
was consensus like even the Bitcoin like they were not.
They were we were talking about this on the panel actually but
but now what So that's not what phase And then Solana, just to
go quick over it. I mean, man, I don't know for
the NFTS on there, Tyler, but you're putting the health three
on ten, bro. I mean three is is maybe
generous, right? So we, we saw mad lads and
Sorians run pretty high but the reality was those were AirDrop
bubbles. You know people were were buying
those effectively to farm the AirDrop bubble burst and now
they're coming back to reality and there's just zero FOMO in
this ecosystem. Eileen, you know pretty much
permabullish it came. It was hard for me to come up
with some positive catalysts and and rationale for why these
things could rebound. I think you could maybe make an
argument that that the wealth effects created from meme coins
and that Solana going up perhaps will lead to, you know, folks
wanting to grab some some top end digital collectibles and
digads positioning themselves back.
I still like the the digads return to Seoul.
I like that story. I've compared it to LeBron going
back to Cleveland. Yeah, that was OK.
Chill. Like I saw Deez dunking on you
for that one, OK? Hey, we're we're going to chill
there. OK, on the LeBron Frank
comparisons, but OK, play, of course, just make a comparison.
But I saw that. I mean, this should never left
right. I think a lot of people say
that. But at the time also a lot of
people agreed that it was the right move.
It's like this weird position, right?
It's like, oh, it was the right thing to do to move from Seoul
to Eve. And obviously now that Solana is
like outperforming by Bajillion, you're like, oh, obviously like
that's the right move. So I think, and I think it
probably is a very much just let the people do what they want and
you're putting that health at at 3:10 and obviously don't have
time to go over it too much with Blast NF TS health at one on 10.
But obviously like because that's just a farming game over
there, right? There's not really an NFT
narrative on Blast. Yeah, mostly vaporware.
I think 11 cool innovation has come with blaster.
I think Blaster will have legs beyond the air drop, but this
the concept of refundable NFTS. So it gives someone like Sam who
who doesn't want his holders to potentially lose on his NFTS he
can sell photos to them and just rest assured that they're always
going to be able to get their money back.
And I think that does unlock a real use case for artists who
have similar mindsets and while the ETH is is sitting like with
them, they get to earn yield on it on blast and they still get
the royalty fees as things churn over.
So I think we're going to see more, more and more usage of
that specific app. Yeah, it's we'll see.
But shout out to 9059. I love this photography
collection that's beautiful. And shout out to Ovi of course
with with pack rect which is which is super duper cool.