Good morning, Good morning, everyone.
GMGM and welcome to another episode of Omo Hour Day.
It's Tuesday, April 29th, 2025 and folks, another green morning
out there with crypto outperforming once again.
More headlines of funds and institutions piling into Bitcoin
starting to get bowled up here on this show.
Some are calling for new Bitcoin all time highs in Q2 in the
question, are they right or are the bears going to win this
round? We're going to break it all down
on today's show. No faroque, but we've got Mando
powers back, baby. So back and Logan as well.
Mando, Jim, how was your power outage situation?
Yeah, that was nuts. Like fully, fully nuts.
I was like laughing about it at the start because you let all
the power come back and then it suddenly came through that was
affecting the whole country and it was affecting Spain and
France. And I was like, oh God.
And I, I just wasn't prepared. Wasn't prepared.
Like we had some stuff, but nowhere near the amount that I
thought I, I realized I needed. And no, it's, it's that point
where after like 10 hours, you realized your phone's about to
run out and you're like, what are you meant to do right now?
And then I was like, I'll go, I'll go charge it in the car.
And then I realized the car's only got like 1/4 of a tank of
gas. And and I was like, wow, like
the power goes out. Stuff can, stuff can really go.
So yeah, crazy 24 hours. It did come back like late, late
in the evening last night in RAM.
But like it's it's across Portugal, Spain, France.
You still had some issues and some people have been affected
by water here because they pump the water from the ground in
certain places around here and the pumps weren't working.
And it's definitely a sorry, I have a bit of a cough.
Definitely a like almost like a disaster movie.
When you start thinking about like if this went on for another
week, you can really get bad. Yeah, I I saw your tweet.
Flat hands out the out the power.
We're screwed. It's, it's a bit of a reality
check. I was following it loosely
throughout the day. I mean, even into like American
afternoon, evening time. It wasn't clear that power was
going to come back anytime soon from from the messages that I
was saying. No, no, they they said it could
take a week, which it still can like parts of, but there's still
power in, in, in no power in some areas around here.
If some weird thing like it seemed kind of innocuous that it
just got taken out. But that's the kind of scary
thing about it. Like one power line in Spain
takes down everything it it took out like part of the paint part
of the power in like Belgium and and the Netherlands.
So Europe. Europe I think.
The other thing is you're. All on renewable.
So like Europe's been big on renewable and I don't know the
exact science behind it, but there's something to do with the
fact that renewable energy can't be used in these sort of
moments. So like when once it goes down,
it's often and can't be used and like research it back up just
the way like I don't think she can't store it in the same way
or something like that. But before in the hours before
it went down like Spain's, Spain's energy was like 60% was
coming from renewable sources at the at the time and then it goes
down and then you can't just get it back up again in the same
way. So.
Have they figured out that the the reason I saw some tinfoil
hats of course on on X that it was well I it.
Was like, yeah, done this really bad translation, but they said
it was like a like a a extraterrestrial phenomenon or
something like really random like sounds like any.
Flare or like something. Then I saw clips of something
like a spherical orb passing between the Earth and the sun.
There's been quite a lot of talk about that.
You know, solar flares are up quite a lot over the last year
and they're going to be just the way the cycle is.
They're going to be quite big for the next few years.
And yeah, just other stuff like global warming maybe may have
been slightly responsible for it, like, who knows?
But it is more at this point of the fragility in the system.
And also the idea that if power was to go ever go down, yeah, it
can get it can get dicey. I'm with you.
I think it's a good wake up call.
I went through your list. I said to my wife.
I was like, we, we need to go through this.
I think it's a little bit different when you've got a
family too, right? I think if you're, if you're on
your own, it's a little bit different calculus.
We had about 1/2 the things on your list I'd say but but
definitely not all of. Them something you just like, Oh
God, like you realize that actually most of your devices
last a day, right? Most of your handheld devices
last a day. And then and then you're really
just relying on power. But you're always thought, Oh,
I'll be able to power it up. But I could have driven for 15
hours yesterday and still not had power because it was all the
countries in the area. So it's like, and you can't fly
out. All the airports are shut,
right, All the airports are shut in this scenario, all the petrol
stations are shut. This this just so everyone's
kind of aware because they can't pay.
So you're you're like in your mind, I think everyone has like,
I'll I'll be out to get out if something bad happens.
But actually, like the petrol stations are shot.
So you only already have the petrol in your car and the
airports are shot. Then it either descends into
lawlessness or you're kind of just staying where you are and
hoping for the best. So that's why I kind of said
like after 48 hours, I think you probably need a weapon because
like the police said, just stop calling us yesterday.
So I don't know, like you can tell it can get bad pretty
quick. So you're sitting there.
Your phone's about to run. Run.
Out. You can't go anywhere because
you you have whatever petrol's in your car at that time
airport's closed railways closed buses are shot like you're just
you're just sitting there hoping the power.
Comes back. On but like it's really sunny it
was a beautiful day yesterday. So I was like, just need
something to keep the power going.
Yeah, and having the, the, the backup generator is probably #1
on the list, I'd say if I had to stack rink those items because
that solves a lot of the problems.
I think Logan, we were chatting like this is actually something
like I, I'm quite familiar with this.
So where I grew up in Indiana, like we would lose power 3 * a
year. Of course that was back, but
that was pre devices and like addiction to to devices.
So we didn't really, I mean, even like personal, we had a
personal computer, but this was still like dial up Internet.
But yeah, Logie, well, maybe First off, we're happy you got
the power back, happy that you made it through the power outage
with with no significant issues. Logan still in Peru.
He's got the yellow background. Assuming power stayed on there.
GM how are you doing? Yeah, power, power's on here.
I do have some history, of course, with power outages from
rural Pennsylvania, not quite to the extent of like, you know,
multi day, but you know, I've had to pass a day without power.
So it's not fun. And I'm not sure my family would
be equipped either at this point in time, although the isolation
I guess helps with with some of it as well.
But yeah, things are going well here.
Last week in Peru, beautiful weather, feeling good, markets
green, nothing to complain about.
We're glad to have you back, folks.
What are we talking about today? We are going to talk about more
then how to survive power outage situations.
I do promise you that. So we've got Trump creating
strategic uncertainty in global markets here this morning.
Crypto is looking strong, outperforming here to a degree.
Massive ETF inflows continue. Arizona may be becoming the
first state with a Bitcoin reserve.
MasterCard launching a full stack stablecoin initiative.
Ledger and Coinbase offering new yield.
Nikita Beer Town and Clouts new token Launchpad didn't see that
one coming. Crypto AI doubling in the past
three weeks. Memes continuing to pump in a
couple of NFT stories. Plus we've got double YEET
action today as well. Yeet is back, so make sure you
stay tuned for that. The raffle block code will be
YEET 50 to celebrate $50 million.
And boy, on that YEET platform, how about that nice little
milestone? Before we dive in, we want to
give a shout out to Wallet Connect.
Wallet Connect is the connectivity network shaping the
future of on chain UX. If you've connected to a Web 3
app, you've seen Wallet Connect. That blue logo, it's everywhere.
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what's next. We love our partners as always.
All right, Mando, without further ado, let's get into it.
Can you dig it? So I have to prefix this by
saying I wasn't really paying attention to the market much
yesterday, but the market seems to be kind of where I left it.
It feels as though Solana may be slightly underperformed over the
last, over the last 24 hours, which I think slightly
surprising. ETH going higher is often seen
as like a bit of a bearish sign when it starts to outperform and
ETH is marginally outperforming right now.
But broadly, we look kind of flat.
The, the big news that I saw really has been like ETF inflows
have been very, very strong. And then coupled with some
headline news which is that Arizona looks like they are
going to do an ETF reserve and it looks like South Korea may
also similarly be moving towards ETFs by the end of this year.
So adoption of of crypto seems to be going higher, but yeah, it
feels like Bitcoin's just kind of holding on to where it's been
for the last few days. This kind of 93 to 95 K area.
I'd be very unsurprised if it, you know, if it has to retest
like 90 ish again before it has to go higher.
It's been remarkably stable having made that like 15% gain
and and it hasn't really been tested that much.
It kind of got bought whenever it hit 92 1/2 K.
But what we've really seen with BIC from going sideways has been
kind of the trenches coming back a little bit.
It's like what you said, it's what you said, Tyler.
So you've seen the AI sectors really come back, 9 billion for
the AI sector. It's pretty impressive in my
opinion that it's come back to that sort of level big gains in
virtuals and AI16Z over the last 24 hours.
One of them's on listing virtuals just seems to be
grinding higher and Farkwind obviously had its move before
that. But yeah, just a decent move
across the board in a range of those coins, which I think is is
getting people more, more bullish.
I and then on the meme coins, they've been more mixed.
I think some of those gave back a few more of their gains over
the last 24 hours. But Pengu's had a very strong
period here and kind of relatively held on to the
majority of its gains as well. And then you've had some like
mid tier runners, which just is a good sign.
I, I would guess for the for, for general risk sentiment.
But I've been, I've been impressed, let's say when I turn
back on all of my power to see everything kind of unchanged and
pretty low volatility. It's a, it's a good sign macro.
I haven't seen anything more. We've had like a period here of
stocks recovering. I think it's been five straight
days of green for stocks, which which has been good NASDAQ back
above comfortably above 17 K there.
So that's been a decent move. And then the S&P has been
bouncing as well. I think everyone is just waiting
for, for some talk about trade deals that most obvious ones
would be with the UK and India, it feels like and potentially
South Korea there's been some talk about or Japan.
So maybe we'll get some there. China is basically saying
there's, there's not even any talks about a deal going on
right now. So it doesn't feel like China.
US, as I've said several times, is, is close to a deal, but
other countries may be much closer.
You had the Canadian election happened yesterday, Carney won.
I don't know how that's going to be taken.
I don't think there was like a big, big view on markets there,
just that he's going to be less friendly, let's say towards
Trump and he's potentially a less crypto friendly president
as well. So yeah, that's your news.
Thanks for the roundup as always.
I I want to dive into a few of these here.
Maybe just starting with Bitcoin.
I think you nailed it. Like we've been green.
I feel like maybe it's just this bear bearish mindset like just
waiting for it to to dip again because we've had this kind of
few weeks now of continued. You know, we were pretty stable
at 85 K then we level up to 95 K and kind of just hanging out
here. Sailor bought, we saw yesterday
the announcement he bought $1.4 billion worth last week at like
92,700 or so average. I did see some chatter on X that
maybe he was, he's running out of ammo.
I haven't looked into that myself, but if sailors running
out of fresh capital to buy, is that perhaps somewhat of a near
term bearish indicator? You landed on the ETS?
I mean wild. I was watching this last night
so I was curious how Monday would go.
It was looking very red until the Friday I bet numbers came in
and they were biggest day in months with nearly a billion in
the BlackRock ETF alone. So, so pretty substantial there
and we've had, so yesterday I talked about Kathy Woods 2030
price targets, but Standard Chartered came out and they
issued, they're calling for all time high in Q2A120K.
They're not alone. Bob Lucas is back.
Bob's been a little bit. I mean, I think he's a pretty
objective guy. He, he follows the charts, he,
he does his TA and he tries to, to make predictions based off of
that in his system. He'd been leaning more bearish
for the last month than yesterday, his first bullish
post that I've seen out of him in quite some time.
In fact, I went back through his timeline this morning and I
don't think he really had much, many bullish things to say at
all. In the month of April.
He's saying we are back in the the four year bull cycle
uptrend. This weekly cycle.
We are on week 4 of 15. Expect to play that out
projecting that we would potentially make new all time
highs here over the next 11 weeks, which is Q2 basically so
aligned with Standard Chartered. Wow.
Mando, curious any reactions to that on your side if you think
that's a little bit premature to call for all time highs and in
Q2, how does that line up with your current base case mental
model right now it? Lines up pretty perfectly if I'm
honest. I kind of said that I thought,
you know, we could be in this range for six months from when
we started and and the Q2 breaking out would be would make
sense. I think, you know, you can look
at this from this angle, you can look at this from the the global
M2 correlation, You can look at this from just general
sentiment. Like it doesn't, it still feels
like it's just us again in crypto and that that's normally
a good sign in my opinion. Like not, not a terrible time to
buy, but you just have to have a long enough time horizon.
So I think if Bitcoin was to break out towards all time highs
again, it can get quite frothy again quite quickly.
So as it always does. And I think interestingly,
you've already kind of seen some of those memes move already.
But yeah, I mean, I think you kind of know the ones that you'd
want to earn if it's continued. Yeah, I think we're starting to
see that on your six month comment, man, it's almost been,
it's been 5 months, it's been realized.
So November, November 21st we hit 98 K.
So you could paint the case that we've already been in this for
over 5 months now. So in the May 6 months freak out
in the new range that's. What I mean kind of entered in
December to be honest. Yeah, that's when it it fully
started. We made the huge move, huge move
up in November, post Trump election, basically the whole
move in two weeks. Yeah.
Then kind of entered that range. Then we lost that range, chopped
down our back of that initial range.
Logie, I see you, you you're nodding your head.
Curious for your thoughts reactions here.
Yeah, it is wild to consider that despite all the the bad
feelings we've had, maybe maybe not this week, right, But the
the last month or so that it's just been kind of in a range for
the last six months. It's really not so bad when you
zoom out, right? It's cliche as that is.
I, I don't have too much additional to add.
I was just thinking back to, you know, you talk about the ETF
inflows and I know you mentioned you talked about Kathy Woods
price targets yesterday, which absurd or not one of the inputs
for those predictions is just the continued adoption of the
ETS of people continuing to pile into the ETS.
So as you see that, as you see more inflows day over day, or,
you know, whatever the case may be, just kind of, you know, I, I
can get behind that, that, that makes sense to me as a vehicle,
especially because I've seen it anecdotally as well, right?
Like people in my family, my own father, right, gaining exposure
to Bitcoin and things like that through, through the ETF.
So makes sense to me. And, and for that reason, you
know, maybe not I, I don't know, I can get behind the 2.4 million
by 20-30, but I, I can definitely get behind the
bullish sentiment that is attached to, you know, ETF
accessibility or, you know, wherever the case may be.
Yeah, it, it is interesting to see is it's kind of hard to
argue with with the law of that logic, right?
I mean price targets aside, they're, they're her base
drivers and ARCS based drivers certainly made sense.
You mentioned ETF flows, we talked about those.
The other piece is just institutions and funds
continuing to pile in. And we got the news this
morning, Grant Cardone, Cardone Capital is set to acquire 1000
Bitcoin. That's $100 million.
Just add it to the laundry list, right.
I feel like we're we're seeing these on a weekly basis.
I talked about this a lot on the, on my solo show yesterday.
The other aspect we're getting, and I don't know, we've really
had a chance to talk about this because it took place on Friday,
but the institution's now starting to pile into Solana in
Seoul. So Jan over previously, Jan over
now they've changed their name to D5 development.
They dropped the bombshell on Friday.
They're, they're going to raise $1 billion to, to buy Seoul.
They've already bought about $50 million worth a sole for the
corporate treasury. So they plan to to buy up to, to
20X that. It feels like a big deal.
And that's, that's a big number for the Solana ecosystem.
And they're not alone. But curious if you have anything
what? Is that happening with ETH like,
well, I believe it was by soul. Like what's happening with it's,
it's sounding crazy, right? It is crazy I don't have a
great. Answer I, I think this is a good
sign for Solana. As I've said before, like my
thesis around L ones is, is less constructive than I've ever been
when I've been in crypto just because I just see this massive
adoption of, of stable coins. And I, I just wonder whether
that's going to really affect some of these these L ones.
But I think it's Solana's keeping keeping track with
Bitcoin all the way up, which I think has been a very, very
strong sign. I mean, it's slightly
underperforming today, but like overall I think you got to be
pretty happy. Yeah, I I would agree and I want
to get into perhaps going further out the risk curve.
What in, in the scenario where Bitcoin makes all time high,
what else moves along with it? I think we've started to see
signs before we do that. Just a a couple of the stories
Arizona set to potentially approve their Bitcoin strategic
reserve. It feels like a big one.
So it passed in the House yesterday.
That was the news. It is now passed in the Senate.
In the House. It is on the governor's desk.
I think there are concerns that the governor is going to veto
this or not sign it. It does feel to me that the
governor perhaps has more on the line as the final approval
approver of this then perhaps individual Congressman in the
House and the Senate. And as much as you know from a
bullish Bitcoin want the number to go up And like what would
this mean for other states to potentially follow their lead?
Want that to happen. Is the are the downsides strong
bigger, worse than the upsides are in in this scenario?
It's like let's, let's say the bill, they're talking about
investing 10% of Arizona's treasury, which I believe is
around 30 billion, so about 3 billion or so, fairly
substantial amount. And let's say Bitcoin goes up
30%, they make a billion on that.
I think you see some nice feedback.
I don't know that you see a whole lot of headlines around
that. In the scenario where Bitcoin
goes down 30% and they lose a billion dollars, I feel like
there's more negative headlines in that scenario.
Logan cures for your thoughts? Yeah, I.
Think it's going to pass? I'm with you.
I mean, there are definitely lingering cons that no one when
we're discussing these bills, at least in the, the crypto echo
chamber, we're not really ever talking about.
So I, I totally see that world. Tyler, I think it mentions in
this article from Vince that, you know, that she had
previously said maybe recently that she wasn't going to sign
anything until they had a budget resolution, but they may have
just gotten 1, but there was no update on it.
So may not have anything to do with of course, her feelings on,
you know, crypto or whatever, but just, you know, general
politicking more or less. But with all that aside, I
definitely understand the risks. There are other risks here,
custody, you know, things like that, that you know who The Who
the hell knows? Obviously, you, you'd hope that
a state undertaking something like this would, you know, be
using the most trusted utmost, you know, best possible security
solutions, whatever it is, you know, custody with Coinbase,
whoever it may be, right. But there are, there are lots of
hidden risks in something like this and you don't want to be
the first one to mess it up. And then one, you probably
ruined it for everybody else. You know, it, it might be the
nail in the coffin. And two, of course you would,
you know, very, very much negatively affect your citizens
and your constituents. So I, I definitely understand
the risks and the, the potential unwillingness to kind of be the
first. But I do think when the first
happens, that's when you you know you'd start to see some of
the more so the other dominoes fall.
Yeah, I think that's a fair take.
So we'll certainly see. It'll be big news probably
regardless of the decision here. So I think if this one also
fails, it'll it'll add to the laundry list of states that
haven't been able to push this over and it'll feel, I think
Arizona's been one of the leading horses in this race to
actually get this across the finish line.
So if they fail, I think it's going to paint a bleaker
picture, but we'll certainly see.
I want to go back to that question of Bitcoin all time
high in Q2. What else is pumping?
Are we surprised? That they we did this last time
right we did this when Bitcoin was a what was it about 60 K we
said what are the things that you would own I think at the
time I said mug goat and there's two others I think maybe it was
Pepe and. Was fog in there at one point?
Fog was in there too. Yeah.
And they all basically did A3 to 4X of A.
They thing got trashed afterwards.
But if Bitcoin now was to go to 110 K, well, let's say yeah.
1:15, 1/20 What are the assets? What are the three things that
you would want to own Tyler? Well #1 is far coin, of course,
it goes goes without saying. It goes without saying.
I think from a more from a safe if you want to bet on crypto AI,
I think the play is virtual. Virtual right now is probably
the token. I would reluctantly own it.
I will admit I haven't ever had a large position in that.
I'm more, I'm more sold on virtuals leading an AI pump than
AI16Z right now. And I would want to bet on the
leaders in that category and not go further downstream.
Well, I guess let me let me say that back.
I do own prompt. I think prompt is, is a fair bet
on the crypto AI Round 2. So I'll make that my I'll make
that my call. But I think virtual would be
just fine from a pure meme standpoint.
Or or what else would I want to own?
Make of the other things of the hype would be 1 Pudge budgie,
would you, would you buy? I mean, Radium actually just has
made like 600 K of fees from this from this launchpad in the
last three days. That's suddenly looking
interesting to me again. Well, some of the L ones.
Squeeze interesting hype is I mean hype sit back in 19
already. That's the thing.
So like what is are you? Are you looking for a 1 1/2 X?
Like three to four XI mean maybe a three to three X is possible.
It's kind of hard for me to see a much bigger run than that
right now. That's so huge.
That's that's a huge strain. Pingo is an interesting one,
Logan, what would be tough? It's crazy, but well, no, it
doesn't sound so crazy. But you know, far coins, the
immediate first thing that comes to my head and I think I own 100
far coin on a Ledger somewhere. That's that's that's all I'm
holding right now. But that that's the the first
thing that comes to mind if you tell me that Bitcoin's going to
hit a new all time high, you know, in Q2.
The other thing to me, you know, so like Solana is interesting
along those lines. I mean, it's still very much
beaten down from all time high, which is about two 290 or
something. So I could definitely see that
following suit. And then as you, yeah, as you
get further down the, the risk curve, some of these become
interesting. Like I I'm no longer interested
in things like with, for example, dog with hat, but
things like Trump alongside that, things like, you know,
like I, I could be, I could be swayed into into stuff like
that. But the the most obvious slam
dunk one to me, which maybe is like me talking to myself that I
should own a little bit more than 100 tokens is is far coin.
Like if it's really going to go up, like, I don't know, it just
feels like a a slam dunk. But I, I, I like a couple of
these here on this board. I like dogecoin.
I still like, so I've never really had any affinity for like
Shiba Inu or anything like that. But there's another.
I think there's a headline this morning about another DOGE ETF
filing or something like that. Feels silly, but probably one of
those gets across the line. Maybe that doesn't mean too
much, but it is still the champion of meme coins, at least
in my book. And by market cap of course as
well. That doge, it's interesting
right there. Looks like it's painting higher
low here. Like, I mean, we had the
explosive run. Handle are we?
Are we about to see a cup and handle here?
Let's see. Let's find the time, the time
frame where there's a cup and handle and go for it.
Yeah, it looks like maybe on the the six week on the six week
chart we might have. Is it like, is it on my house
going? Like I have a very small
position in this thing but like. All right, now we're talking
about language. Yeah.
So is it a new meme? It's like if you think there's.
Going to be a lean meme, will probably run the hardest right?
I think that's a very fair thesis.
I think I think a few things are going to happen.
I think we will see a flight back to some of the the the the
top meme coins topping quotes. And I think it's going to be a
little bit of a new classic. I don't think with is going to
is going to be a leader again in in 2025.
I think it's going to do fine. Like I'm, I'm not saying to
short it by any means, but I don't think it's going to go
back to four. I think perhaps some of that new
class could, could see some runs up.
I do think Pingo's going to have a nice run.
I think Rex is going to have a nice run.
But what's going to be the new coin to emerge from the salon at
trenches? I think once a quarter we see
one, we really haven't had one. What's the, I mean, I guess we
had to separate pre Trump and post Trump.
Post Trump we haven't really had a since the fallout.
We really haven't had an organic new runner from the sole
trenches, have we, that's had any kind of a staying power?
No staying power were were there maybe a handful like right after
like was Jelly Jelly after Trump or is that before I haven't
losing track of yeah. I think that was before.
Yeah. Nothing was staying power
though, you know, beyond a few days.
So it's pretty open. I mean, if you look at at what's
currently out there right now, it's really don't say there's
the board. All right, maybe trolls in the
conversation. The troll seems to have a decent
group of folks behind it. It's at 30 million.
We just we're showing house coin at 60.
It's a little bit higher bunk. Guys touting Joseco super hard
right now to 33 million. I don't really know the story
behind this one. He's saying it's got a lot of
views on on YouTube or something.
OK, I I don't know that I'm throwing my chips on on Joseco.
Sorry to the Joseco crew out there, but I think this is what
I talked about yesterday. But there are, there's some
action here in the trenches. And as these new coins are
moving up, we're starting to see more runners on a daily basis
kind of fill in the gap. So I looked at the board this
morning and there were 4 to 5 coins in the last day that went
to that three to $6 million range.
So they're, they're not going to 10, they're not going to 20 on
the first day. The the the that first day cap
is a little bit lower, but they are starting to happen more
consistently. So I think it's something to pay
attention to. Certainly that's the salon meme
board. NAII think it's more of a
question of is it going to be a new AI runner that really takes
the scene or is it going to be the existing crowd?
The virtuals group is starting to get pretty loud at this new,
I think it's called Virgin, this new program or you can you have
to do something and then you qualify for these pre sales and
the pre sales have been doing pretty well as I understand it.
I have not had a chance to dig into that yet.
I know ICO and others have been telling that pretty hard.
Certainly this virtuals looks pretty nice.
It's up almost 3X off the bottom here, back to $1.46.
So it's doing pretty well. The rest of the board, it's
doing OK. We aren't seeing like this huge
movement. Arc is back to 65.
Griffane's right there. Yeah.
This isn't my watch list. What else is moving?
So Alchemy has been doing all right.
It's 150 million goats hanging out.
I think Prompt is an interesting one, but it's got the weekly
cell pressure, so that is something that to take into
account. I don't think we've really seen
that the huge unlocks from that yet though, So I think that will
still be my my wild card. Yeah, it feels like this.
The winners are winning and everything else is not really
doing much. And there's no new launches
really, which is a part of this a.
New launchpad is that, Is that what this is?
What? It's just a better casino,
essentially. Logan, have you?
I saw you nodding a bit. Have you had a chance to take a
look at? That just very briefly, it
appears to be a more or less like a pre sale launchpad.
So you can utilize the virgin points to sort of try and
subscribe to new agents that are created in a little bit more of
a fairer mechanism. That's that's my understanding.
I'm sure there's much more nuance and things that may not
be, you know, characterizing there, but just more
infrastructure stuff and slightly reworked infrastructure
for agent launches. Got it.
Yeah, Look, I think, I think with all these sectors, you kind
of just have to look at what happened to the biggest coin.
And if that's up, then what like you said, kind of like some
crazy stuff can happen in the mid tiers like Trump doubled
basically. And that just means that there's
a lot of money suddenly in Solana meme coins again.
And similarly, Tau I would say is the biggest AI coin and is up
a lot. And then that just means that
people start gambling all the other coins.
Yeah, I want to move almost double Intel up 66% on the
month. So the the leaders create a big
move in market cap, a bit of a wealth effect and then it
trickles down. We've seen that that play out
new wild card. OK, I know we're chatting about
this. Internet capital markets are
back on Solana. I'm not sure if folks have seen
this yet. Imran Khan and Lions Dow,
they're, they're sharing this concept behind the Believe app
as effectively on chain Kickstarter, Kickstarter for
ideas and projects. A founder can come up with an
idea, post it with this, launch a coin, a token is created and
then based on how it's traded, fees generated, that founder can
decide to effectively launch the product or not.
Can you take us through this one?
Yeah, in your early thoughts. Yeah.
So it it appears to be a basically a relaunch of clout.
If you remember, I guess that would have been what December or
you know, early January Clout from Ben Pasternak never really
launched, but this appears to be it's it's revitalization,
rebrand, whatever. But exactly as you described,
Tyler and and as Imran lays out here, so somebody can have an
idea for something, sort of outline their idea in a post
just like this and tag that launch a coin Twitter to create
a coin alongside it, more or less so a coin attached to the
idea. You can also have people scout
ideas. So if you posted an idea, Tyler,
a really, really long one, somebody could, you know, kind
of reply or scout and attach a coin to that idea as well.
And just like anything else, right, The token trades earn
fees for it. And then the person who created
or who owns the idea then, yes, can claim the fees.
They are vested, I believe. But reading through some of the
replies from Iran, it appears that more information is going
to come out. But there is some vesting
related to the idea owner here. So it's not just like you can
just take the money and then run.
But yeah, it's, it's on chain Kickstarter, more or less.
And there were there were I think 3 or 4 launches yesterday.
Yeah. Here's the tweet.
It's like that luxury furniture company that that token is at
like it was at like 4 million when I looked before the show.
So some of these have done quite well thus far.
I would say much better than some of the initial launches
that came from aside from the Pasternak coin, much better than
any of the other tokens I believe that launched on cloud
to start so. I guess the core differentiator
here then is it's launch a coin, but it's not just for pure shit
coins. Right.
And it's not just tied to the, it's not just tied to the
individual. These aren't just like creator
coins, right? It's intended to be tied to the
idea or the product or whatever. So in the case of dupe, which I
don't know anything about, I'm just using the description.
Affordable luxury furniture, right?
Guy writes out his theses, I imagine, or something like that,
right? Showcases any previous sales or
whatever else he's done. It's it's kind of like Shark
Tank in a way, right? You sort of like or it feels
like it could be like that you're sure you're just like
pitching your Twitter crowd. And then they can of course buy
the token earn the fees and the the creator can then use those
fees to actually build the business.
And of course, you know, I'm not entirely sure how some of the
like, I, I guess the token is designed to be the equity, you
know, if you extract it enough from the initial idea, like how
do the people win? I guess the token going up.
But there's that angle of speculation here that I feel
like still doesn't quite answer for, you know, the the overall
idea, if that makes sense. It does, I think right.
That was my first struggle with it just as a conceptual basis is
the like, why do you want to buy that the the token before,
before there's a product like you're kind of just betting on
the founder meant that you perhaps don't know who hasn't
built the product yet. So I don't know.
I mean, it's very, very early stage investing I guess is one
way to look at it. Yeah.
Well, and with at least with the way that Kickstarter works,
right, is like if you if you're engaging with the Kickstarter,
you're entitled to select benefits typically, right.
Like you get the product early or you get like a special
version of the product, things like that.
I imagine this will have some component of that as well.
So if you were buying dupe early, like maybe you get a huge
discount on luxury furniture or maybe you get access to luxury
furniture. Like, that actually makes sense
to me, right? You know, Kickstarter, of
course, has been very, very successful utilizing that almost
exact same mechanism. I just don't exactly know life
cycle of the token. You know, that's the big, the
big what if for me, it's like, OK, you've invested early
because you think the idea is cool.
The token and the fees are vested so the founder can't just
take them and run. Like, I get that.
OK, I'm on board. I'm tracking, but like, what's
the allure of maintaining exposure to this token beyond,
you know, 3 days of speculative fervor?
I, I don't know, that's, that's the part I'm I'm missing right
now. Maybe that's spelled out in, you
know, a variety of these posts that aren't coherently strung
together. I don't know.
But it does seem there should be more information coming.
Very successful launch, though, I think he Ben said 60 million
in volume or something crazy like that on the, on the first
few tokens, hundreds of thousands of dollars raised in
fees for these idea owners, you know, project founders, however
they'd like to be recognized. So that's cool.
And I'm all for experimenting. So no knocking this in any way.
I just, I don't, you know, as someone who would consider
participating, I would be participating right now for the
speculative fervor in the very beginning, right?
Looking to get in and out, capitalize on people being
excited about a new thing versus, you know, actually being
interested in these ideas and the future of these products,
which is a little unfair, of course, but like, that's just
the honesty of of what many people participating probably
are doing. Yeah.
Can you take a look at how their, their bonding curves work
and all this? Like are you able to invest like
100K market cap like that feels too low.
And like as a family, you wouldn't even want to give away
equity, token equity in your company at such a low valuation
either, right. So there's some details.
It feels like they're still kind of working through a lot of
this. It kind of feels like they kind
of lost it to see if it would have any demand and it has.
So perhaps they're going to go back and revisit some of the
details, which makes sense. But three products already
launched in the first day we saw dupe see $30 million in volume.
So it's big. I think these founders are going
to quickly learn that they want the token to do well.
They're going to have to manage the product as well as the token
holder expectations, which we know can be quite the job.
There's also and maybe maybe this is like not as much of A
worry with the current administration, but like I think
this type of idea or the the raising of funds for projects
right via token launches that's been around for a long, long
time. Jelly, Jelly just kind of did
something similar to that not too long ago.
But like there's obviously some actual regulatory potential
concerns here. No, like you can you, you can't
just like sell equity in this way without like I don't know, I
guess they're not calling it equity.
Of course, I don't know how it differentiates itself.
I mean, to me it's a proxy for equity or whatever.
So I don't know. But then.
What's the point? I mean the token, right?
You're just betting on how viral it's going to go.
I think what's interesting about dupe and I saw this in some of
the replies, so I'm saying, so Nikita was touting this a year
ago. So this is not necessarily a new
idea or or business here. So and this is just one example
that is a little bit interesting to see.
I think Nikita also helped get this one off the ground
yesterday. So he was he was touting it.
He got some negative back on this folks saying it was already
around which he responded to and jerked back this morning.
But it's an interesting new idea.
We will continue to follow these tokens and clearly some some big
price action early on as well. So that mostly goes through the
headlines from the day. I think folks may have seen that
Pudgy Penguin sale. That was a big one.
The left facing Pudgy it's a one O 1, the only one facing left.
So is he down a lot on that sale?
Yes, yes, indeed. It previously sold for 400 ETH
three years ago, so a 200 ETH loss, but in USD terms that was
$673,000. Did he comment on this?
He's normally pretty vocal, isn't he?
I have not seen it is. It like kinky bed bugs or
something. Yes, that's his handle.
So I was a little surprised to see like no, no statements on
such a big it was a very splashy buy right in a bit of a
controversial 1. It looks like he had a loan out
the 60th loan against it. So when he sold it on Gandhi, he
cleared 148th and paid off the 60th loan.
I don't see, sorry I was scrolling through his feed I I
don't see any tweets about he has changed his PFP.
It's like a Power Ranger or something now, but man, it's
kind of painful. There was an opportunity to sell
this for much more at some point, was there not?
I mean, there had to have been. Maybe not.
Maybe not much more, but more at some point, not more.
Fungible didn't they like just everything about them went more
fungible. I think he was probably one of
the last like big one of one star.
So apart from punks, right, everything else is like how many
tokens do you get? Well everyone gets the same
amount of the tokens. Like for the points for the air
drop farming it was the same amount.
So like this felt like the wrong it was.
He was always going to lose money on that after all those
incentive change. Yeah, I think that's pretty
fair. We saw a decent round of gold
and diamond sales. So the pudgy floor went to 100
Ki, don't know if you remember that Pudgies were 100K ahead of
that Pingu launch. So I would imagine if he tried
to sell it then maybe he could have gotten a touch more.
But I think Mando's right. I think when when you introduced
all the fungible tokens to this, it definitely hurts mid tears or
hurts rares, but an interesting sale nonetheless.
I think the question is even at 200, will the the current buyer
be able to to flip a profit on that?
We will find out. Well, folks think that is the
show.