Yo-yo, what up? What up?
Morning. Good morning GMG Monday.
Monday. July 8th 2020 look at that
another beautiful day to have a beautiful day.
I got my Co host in the house Tyler Mando.
How you guys doing today? Great, man, Great.
Yeah, I was in Majorca over the weekend.
Came back good summer. Nice, nice.
I like that. How was how was the real vision
conference? It was a real vision conference,
right? Yeah, Real vision, yeah.
Yeah, a lot of people there. Bit of group therapy given the
state of the market, but yeah, it was good.
Actually go through the group therapy in the banana zone.
Was it like a bunch of bananas? Like around with candles?
Did have. They did have like a performer's
coach actually come up at one stage and do like a speech,
which is good. Yeah.
What? Did he say?
Was it David Goggins? No, no, she was.
She must have been like Swiss or something.
She. It wasn't Gary Goggins, it was
just a Swiss woman. I love that.
Listen, I, I, I love the idea of group therapy.
Maybe we need that more often in conferences.
Tyler. Mr. Freedom.
How was, how was, how was the Freedom Weekend?
Freedom Weekend was fantastic, as it always is.
A lot of time with the family, pool time, fireworks, just the,
you know, barbecuing, all of it. Just all great Americana
summertime fun. I was pretty unplugged too.
I feel like I've been off for like over a week now and it was,
it was a good few days to be away from crypto Twitter I
think. You missed nothing.
You missed absolutely nothing. I I purposely unplugged myself
yesterday. As a matter of fact, I refused
to look at the price of crypto until 8:00 PM or something.
And because the time I was so bearish, I was like, surely
we're like 40K and that open, it was 56.
And I was like, oh, OK, so anyways, well, I'm sure we'll
talk about that, but you missed absolutely nothing on the
timeline. Let me put it this way.
Actually, if anything, the time I was probably would have it has
been shaking people out. Timeline's been shaking people
out. What's going on going on people
trying to shake other people out.
I mean, shake yourself out if you're a bear, deactivate your
account and and just go for a walk.
I don't know. But anyways, today on show
today, today we got the market report as usual.
Seems like we've bounced a little bit this morning.
I'm sure Mando has a lot to say about that and we'll see what
happens. Happy over the weekend, blah,
blah, blah. Not great.
But also whatever it is, it is where it is.
And then and then Tyler's top 100.
Let's see how many, how many tops Tyler's got For us, it
still feels like there's a lot going on in the space.
So at least at least we're not, we're not, we're not dead like
that. So there's a lot of stuff going
on and then and that's about it. So let's get right into it right
now. And now I do have my own jingles
so I can just press the button and play it.
Can you dig it? GM everyone.
Yeah, we had We had a stronger weekend until about halfway
through Sunday and everyone freaked out inside the cell
again. And I kind of went to bed.
But as far as I could tell overnight everyone kind of lost
their lost their marbles and thought we were basically
heading down to 30K instantly when I woke up we were starting
to bounce again. Big Bitcoin now is at 57 K
Solana I think is higher on the day yeah, it's on 142 now ish.
ETH has bounced to just above 3000, so decent bounce kind of
across the board. Bitcoin dominance have been
rising. It does it does look like both
Ethan and Solana bounced the nicest there.
Interestingly, mean coins have been probably the biggest
underperformers. So maybe maybe some of these are
looking slightly like crowded trades, I don't know.
But the definitely seen old coins outperform meme coins over
the last few sessions and and and majors outperforming
everything. So yeah, it's probably been best
to have been in things like Solana or I guess some of the
Ethel twos have done OK and some of the gaming coins have
actually bounced back, bounced back OK, but definitely feels
like a the sort of period where meme coins have have borne the
brunt of any of the sell offs and haven't really bounced as
strong on the on the bounces as well.
In terms of like macro headlines, stocks just keep
hitting the all time highs, you know, like you can't you can't
hold these things down at the moment.
We have pretty much all time highs and all the magnificent,
magnificent 7 stocks happening right now.
Looks like going through them all now.
Tester's up again today. So that's continuing to to move.
Yeah, there was some worry that the French election would lead
to a bit of a global sell off just because no one was really
predicting what happened. We had a little bit of a wobble
and then European stocks higher and U.S. stocks higher.
So nothing really worrying there in terms of well, nothing really
that that's going to knock this market off it looks like.
So, yeah, this week we have inflation, both CPI and PPI.
And Jerome Powell's going to give a couple of speeches.
I think he's actually going to give it to Congress.
So maybe we'll get some, some more information there.
The, the, the figure that came out on Friday, the NFP figure
indicates that we're probably going to get two rate cuts now
this year, which was part of the reason why I think we saw a bit
of a bounce. So we'll, we'll wait to see if
CPI and PPI basically confirm that, in which case people, I
think will get pretty bullish on risk assets there.
It feels like everything's going to all time high.
In terms of why crypto has been underperforming, it's, it's
mainly just been the, the supply issues, particularly in Bitcoin.
So we have German government transferring another 1000
Bitcoin looks like 2 exchanges today.
Actually, I think it's two lots of 1000, so just over 100
million. And then we have obviously the
distributions from Mount Gox could happen any day.
We've we've already seen some of them it looks like and I haven't
seen anything more about the US government selling, but maybe
maybe we could even see some of that.
So that's been the main supply overhang.
We saw about $450 million of inflows into institutional funds
last week. So it was a decent week
institutional funds, but still feels as though people are
worried about that, that overhang of Bitcoin,
particularly the the German government selling.
We also have some big altcoin unlocks 250 million this week.
We're going to be seeing probably around a billion a a
month going forward now. So big, big figures, which
obviously you got to find bars for.
So yeah, that's that's the world we're.
In all right, I guess we'll see where this this week takes us.
I mean, look, yesterday, I mean on the timeline Mando this
weekend, it seems like most of the people were calling for
cycle top. You know, it seems like people's
favorite influencers sold everything and are now sidelined
on this, on this next potential leg up.
I mean, how do you feel about that?
We we're still still the same. We're going to be a summer chop
and then and then and then and then up only or how you feel
about it. So Ovi also write a whole thesis
out. Everybody's typing a lot right
now. I've never seen a man tweet more
after he's had a kid. Than than no he.
Took some time off and I I wake up every morning to a fucking
two page thesis. It has been typing a.
Lot. Calling people out.
He's getting me involved in debates.
I'm like, I haven't signed up to any of this, any of this stuff.
Holy shit you're right. Like I I even have to like
scroll to find the fucking thread.
Dude, he's, he's going for it at the moment.
Oh, there it is. There it is.
Hold on, there it is. What do you think I mean?
He said. He said, yeah, I think this is
kind of what we've already said is that you read even the posts
of these people that are bearish, a lot of them are just
short term bearish. So for a period of time where
you see chop, if there's chop, like there are things that you
can invest in which kind of benefit from the chop.
I think chop leads itself to like D5 sort of moves that you
can put stuff into an LP or, you know, I've told you where my
assets are, but like, I think this could easily happen.
One thing I know about crypto is when everyone starts getting
super perish, it's a really good time to buy.
We've hit the lowest level. We are at a level of fear and
greed and market sentiment that we saw early last year when
crypto was hanging out in the mid to low 20s on Bitcoin,
right? Like that's where sentiment is.
So that generally tells me it's a, yeah, we're at a good and
we're, we're, it's 58 K, 57 1/2 K like seems like that's a good,
good spot for me. So I, I think it's a good time
to be buying, particularly as I've been saying, I've been
buying Solana just because it feels so strong.
I really like the story there. They, they obviously today they,
they launched a bug bounty for fire Dancer, which makes me
think that could be sooner than than I expected, which I think
got me, got me bullish on that, that story.
And then they've obviously had all the other improvements that
we've been speaking about every single day.
They hit a monthly high for, well, for, for total economic
value last month, all time high for that.
They made $90,000,000. So the idea of Islam is going to
drop in half or go to like sub 100.
That would take, it's like it's P ratio kind of closer to
50X40X. So to me that just seems really
mispriced for this. So yeah, I, I, I just think that
there's actual fundamental reasons why you would buy Solana
at this stage. And I think a lot of the, when
you ask people whether they're bearish, they're looking at
charts and they, they tell you we've broken some sort of, you
know, we're bearish because we've done five straight weeks
lower. I don't know how to tell you,
but that makes me that makes you feel bullish, so.
In a global bull market, technically that it's bullish,
but I think a lot of people are actually calling for the top of
the current bull market. It's like this in a bear market
technically would be bearish. I guess I'm not an expert you
Tom, correct me if I'm wrong and structure like this in bull
market is just another debt, right, but.
But in that so-called bear market, where do they think
Bitcoin is going to? I think most of them are are
saying like mid 40s, right? Doesn't again, doesn't really
feel that scary to me or maybe one of these guys has now seen
seen the cycles like with 2X levels.
So but yeah, I just that seems like a good buying opportunity
all the way down to me. So even if even if we drop, drop
there and what you're really trying to capture there is like
a 9:50 to 15 to 20% move here in, in the major, which I also
think can be very short lived. You know, they, they tend to hit
those levels on a liquidation move rather than anything else.
So yeah, I'm bullish. Love to say it Tyler, how you
feeling how you feeling today? You you did you you missed out
on the timeline this weekend, so you probably tuned back in.
So Thursday, Friday, you're probably out Saturday, Sunday
you're out. You come back Monday and it's
the exact same price as Wednesday minus the You didn't
have to go through a roller coaster of emotions.
The timeline feels like bears are in control, which is, you
know, a situation which, which I hate, but it almost feels like
you're, you're dumb to be bullish here.
I, I agree with Mendel's thoughts.
Like no one, everyone who's bearish is, is basically just
showing charts. They don't have any fundamental
reasons behind it other than they, they're they're posting
like, oh, celeb coins or we're the top signal and we all should
have seen this coming. Like, OK, but no one has any
real substance behind their arguments.
It seems more and more folks are just just pointing to just the
lack of progress in crypto this year.
Like I, I shared a post from like Tim Copeland yesterday, the
editor in chief over at the block.
It just feels like that's more that is the, the becoming like a
consensus or like popular take just to be bearish on the state
of crypto in 2024. And it again, it all feels like
it's stemming from just like the state of this meme coin cycle.
I guess I was checking the charts last night.
It was not a fun night to be tracking the the charts in the
oh geez, every, every, every time I opened the chart, it was
the the price. It was down 500 bucks.
But then we woke up this morning.
Of course it was all back. So.
This is this is something. Concerned.
Yeah. This is something I think crypto
gets wrong a lot is Bitcoin is 55% of the market, ETH is about
17% of the market, 18%. Solana is about 3 or 4% of the
market, and stables are around just shy of 10, around 10% of
the market. So you have 85 to 90% depending
on where where we are of the market is made-up of stables,
Bitcoin, ETH and Solana, right? And we spend most of our time
talking about the other 10%. We spend most of our time
talking about memes or failed altcoins, which don't in the
grand scheme of like crypto market cap, they just don't mean
that much. They really don't like they're
very like, Oh yeah, sorry these Dows failed or oh, this D5
project failed doesn't really affect crypto if I'm honest.
And I think that's that's one thing that people are getting
bearish on. They're getting bearish on celeb
coins like celeb coins are just nothing in this market.
They. Are they are?
Tiny, they are dot on a in a $2 trillion market here.
I think this take if are you bullish about the state of
Bitcoin yes, I am are you bullish about Solana at 3% of
the total market cap of crypto? I'm very bullish on that be
bullish on stables only being 10% of crypto market bullish on
that. I think they're going to grow
exponentially and are you bullish on ETH?
I think that's been the one that people have a bit more debate
about, but I'm still very bullish on it.
So if you're bullish on 85% of the market, you're bullish on
crypto, you can get really bearish on the other 15% and be
like, oh, you know, all these failed utility based projects,
but who cares like. I said Andrew Kang tweet this
weekend saying that almost every altcoin or meme coin is going to
fail but sounds like Gary Vee back in 2021 saying 99% of NFT
is going to 0 and that's not a knock event Gary Vee it's just
caught calling the obvious. Right, Yeah, it's incredibly
obvious like we're we're launching 100 like pump tough
funds launched what 100,000 coins, 1,000,000 coins, of
course nothing I mean. A million closer to a million,
right? Closer to a million probably.
Do we know how many coins have been launched?
I mean, was that 20 KA month at some point?
Mando what was it, half a million a month?
500,000 a month I I don't know how many people would be.
In the millions for sure. Oh yeah, yeah, no, it's way over
a million. Then we're over.
They, they pulled a little trick on people this weekend saying
that they're they're shutting down.
I wouldn't have really fallen for that, but they, they
obviously are not shutting down. There's don't worry, the casino
stays on y'all. I, I, I saw I saw a tweet this
week. I was funny tweet are probably
not fun. This guy was live streaming
himself finding a kangaroo for a token.
This Aussie guy was literally fighting kangaroo.
I, I, I, I just saw it on someone so I didn't even go
myself and check that was funny. Another thing happened this
weekend. I thought that you guys would
find funny, 'cause it's the first thing that I see here.
The German government, remember this weekend, people were like,
Oh no, they decided not to sell anymore.
They're they're buying. They weren't buying, they just
got refunded. They're sell orders that didn't
fill. We were victory lapping their
refund there for a few months. Everyone was like, yo, German
government's turned around, they're buying.
No motherfucker, this morning they woke up and they've
transferred 9000 Bitcoin to Kraken, Flow Traders, Coinbase,
Binstam, Cuberland and B2C2 Group.
I don't even know half of these these exchanges there.
Can I ask you guys something? I actually meant like why do you
need so many exchanges? It's just 'cause there's not
enough Bitcoin OTC. Like have have the OTC that's
run out of Bitcoin? It's wild like some of these.
I would not. Do you use B2C2 or Kraken?
OK Coinbase. OK bit snap you ask?
Robin Hood we used. To we used to trade with flow
traders when I was back there. Big ETF market maker as well.
I, I don't know, like they're just spraying playing.
They've I think I just read that they just sent another bunch.
Is this what you're reading too? No, like literally a a couple of
minutes ago they sent another. That's it.
That's the one. That's a tweet.
I actually know that was seven out.
Yeah, that's it. I think that's a tweet.
Yeah. That's yeah, 10, yeah.
There's more, yeah. 6 minutes ago.
That's it. Yeah, another 10,000 Bitcoin.
That's why I pulled it up. Isn't this just like so bullish
though? I'm sorry, but yeah, I know
they're going to sell, but at the end of the day, after this
is gone, isn't that just like a really bullish, another pocket
of supply is gone? I, I, I don't even know what's
bearish about this. Like I thought like like with
all the infos we have, I thought to me this is flat news, but
clearly it's bearish on the market.
I'm not saying it's bullish news either, right?
It's not but. But this?
Flat no. If we were sitting here and you
know, the total economic value of Solana was at an all time low
and then the German government has come to sell you put up,
wow, this could be really bad, but we're not.
This has been the cycle where, you know, you've seen a lot of
stuff happen on these block chains or be it being mean
coins, but there's still a lot of stuff has happened.
At the same time, you're also seeing massive adoption of of
ETFs and stable coins and and transfer crypto as a as a form
of payment and a form of transfer.
I don't know, I just sit here and just think this is a, this
is a really unique time. If someone told me that
sentiment would be at the lowest it's been since crypto was at
24K or whatever it is at 57 K and Solana was printing the
highest revenue it's ever printed.
I would normally, I mean, even speak to these charters guys and
say, look, this is the the the fundamental thing in front of
you. Are you a buyer or a seller?
I think most of them would be a buyer but caught up trying to
chase the final. Agreed.
Final taste of a of a down move. Yeah, no, that was the news,
right? Bitcoin continues to flow out of
German government's wallets and but on weekends they did not buy
Bitcoin yesterday. Instead, no other sell orders
were filled. So the unsold Bitcoin was
returned to their account. So not only did they dump the
shit out of Bitcoin on the 4th of July and you know, straight
up, straight up, just like you know, full stack, but they also
continue over the weekend while while the burgers were asleep
and in the Hamptons in their own clubs celebrating in their clubs
in the Hamptons celebrating. That man wizard is so funny.
Anyways, I think that's, I think that's a good roundup market
wise. I'm not sure where we are on
memes. Actually, let me pull it up real
quick. Looks like Pepe had a 10% bounce
over 24 hours at 4 backup of $4 billion.
Whiff had a bounce at some point, but it's hanging around
173. Same for Bonk, actually bounced
15% / 24. Dollars.
Wow, wow, Bong's been the move. So that's that's been bounced.
I mean, again, like memes showing that they're the ones
bouncing and memes are showing that they're the better this
season. Again, like the cycle.
I would say the opposite. This has not been a a great a
great week for memes. Alts like compared to alts like.
You should check back in on your alts.
Most of most of the alts actually have done better than
memes this this week. This has been one of the
interesting things I've thought is that maybe.
Maybe like they've become a bit more consensus this week is the
only alt to own, I don't know. But the top memes, some of the
mid mid midcat memes have have slightly outperformed.
Yeah. But Bonk's the only real one
that's up, but everything else is down decent amount.
Yeah, I mean, I'm looking dude, our business $0.60.
What's optimism like? Optimism.
Yeah, Yeah, maybe. I don't know, I just it's wild.
It's it's definitely a definitely a tough time for the
Hallmark injury. Anyways, Tyler, what do you got
for us today, Mr. Tyler? Hold on, where where do I hide
his intro there full Jelly NFT and crypto analysis.
Tyler the on FOMO hour calls the kid can't.
Arena Bachelor Bears. We'll go through a proper full
top ten here this morning to catch folks up from the weekend
top story crypto majors. They fell last night and they
recovered overnight Bitcoin lagging Solana leading.
Speaking of Solana, they saw more volume than ETH plus ARB
combined both days this past weekend, according to D Phi
Lama, So pretty big stats there. Donald Trump has begun talks of
using Bitcoin as a strategic reserve asset for the US if he
is elected over in the meme streets, meme leaders continue
to dip, but some reversing this morning.
Bonk leads Billy looking very strong from the new the new
green coin group blast goal is going to be distributed today
following the latest guide. We can get into some of the
nuances there. Fancy top is kicking off its
next season of tournaments. I think you're in one hour 30
minutes. So they are back in the fantasy
streets over on telegram ton they're hamster combat games.
They've apparently reached 200 million users in 80 days and are
gaining 4 to 5 million per day and according to a story read
from Coindesk, disrupting the Iranian election.
So I thought that was another notable story in NFTS.
Punks nearing 29 ETH during this ETHP.
So they are creeping up seeing some solid mid tier sales.
ETH NFT leaders definitely read on the week.
Pudgies are leading at 10.61 of the few green sets on the week.
And a funny story, perhaps funny depending on where you fall
here. The the bankrupt fund three AC,
three AOS capital. They bought a seer light
one-on-one neon village for 20 ETH due to a forgotten bit that
had been locked in the contract for about 3 years.
And then in other art news, a little more on the bare side of
Fadenza sold for 20 ETH. That's the lowest Fadenza sale
since July of 2021. Wow, that is That is a wild
stat. Yeah, that is a wild side.
Let's let's start with, let's start with, let's start with
some meme coins here. I know we kind of touched on it
quickly, but that Billy coin ain't going nowhere.
I'm seeing it all over the timeline, that's for sure.
Didn't take the trade, Mr. Trade was away, but not coping either.
Just love to see it like people cooking on that, you know what I
mean? I always get these replies.
I say, oh, for real? We don't post Billy, are you
coping? I'm like, no, I'm not coping,
dude. I I respect the pop, you know,
shit, I respect the pump. So so what's the latest on that?
Is it does it have exchanges? Is that like what's I?
Don't think a whole lot of news. So they, they did the the CTO
fairly early on. I think basically during that
first big pull back then I mean, it's basically been been up only
since then. Just printing higher highs,
higher lows start look, start looks fantastic.
I did get I did get into this around 75,000,000.
So disclosure, I do hold some Billy's open.
Gee, geez. I don't really, I, I haven't
had, I don't have a set target for this one just yet.
You know, I, I was coming into a plane for maybe like A2 to 3X.
So, you know, already getting up there.
Absolutely love to. See it it's looking strong like
I feel like that this it was it's kind of positioned as like
the anti celeb coin like back to basics like we're just gonna
trade cute animals again. And that seems to to have been
part of the thesis A. 100% how do we how do we feel about memes
here man though? I, I'm a little bit more
cautious on the on the top ones. That's basically where I'm at.
I think they haven't outperformed on the bounces.
And I said that the other day when ETH Pepe didn't really
outperform ETH when it, when it was like bouncing.
So I'm, I'm definitely more cautious on them.
I think the top ones could see a little bit of a lag versus some
of the mid tier ones like Mogg looks better than Pepe.
Popcat looks better than whiff to me.
So ones which have a bit more a few more tourists in them seem a
bit more worry worrying to me than than ones that all like the
ones that are coming up a little bit more or like lower cat ones
that they seem to be bouncing around.
But yeah, I mean, I've said this to you like that's just the way
I look at it right now. They they look a little bit
dangerous. And then now to be clear, like
some of them I think will be great buys, but I think you got
to work out which ones and when. I think for me, I've already
been very public, but I think Pepe is a is a long term meme.
So I'll be, I'll be, but that'd be one I'd want to buy as it
goes lower, even if it looks bad.
But it's one of those ones for the long, longer term time
horizon than anything I think is going to outperform.
It looks like some of those major memes look a little bit a
little bit weak to me. OK, yeah, I mean, I guess we'll
see where the memes go, but it seems like they've been pretty
highly correlated. Any new memes come up, Tyler,
this weekend? Nothing, right?
It feels like we're not. There's not like there's not
much. It's just same memes that we've
been that we're still trading right the last few.
Months I didn't really see any hot new ones.
Really wasn't right The most recent hot.
Giga, oh giga. 'S a big mover.
Yeah, Giga's a big I. Think there's bin dot ETH may
have dropped a a pump. OK yo I saw that last night
before bed and I was like maybe this is my cue to go to sleep
'cause I think he's back with a new account.
And I think it's the was it, was it Angel Pepe?
Yeah. It was that was his.
I didn't he. I dropped in the Nakami ghost
chat. I mean, we talked about this
when Giga had this Wick. Remember on the show you talk,
you brought this up title and like, well, it's a new Wick to
fill and it looks like it's working on it on Giga it.
Really isn't working. It looks like they're really,
you know, working on filling that that Wick here.
I missed this trade. It's going to be painful when
that Wick fills. Definitely missed it too, but
you you'd love to see there's still some trades.
See, there's still some trades, but you're going to have most
people don't realize that you got to have be, you know, crazy
enough to hold this usually to have this right like this was
how long it it launched in January, guys, January 4th.
It would launch January 4th. Yeah, something like.
That I mean, imagine buying that chart in in, I mean in June,
like right, this, this is such a hard thing to do and.
I don't know what you guys, which one of you guys sold their
Bitcoin, but definitely. German government, I think.
Germany. Oh no.
It is quite literally Germany. Wait, it is literally Germany.
We really talked about how they just moved 10,000 Bitcoin like
on the show at 1016. What am I saying?
It is literally Germany. Well you know what You know
what? I'm so glad y'all are out of the
euro. You know I like the I like, I
like, I like I like I like the German football team.
But you know what? You don't deserve to be part of
this euro in your own house. There you go, that's what you
get for dumping your Bitcoin anyways.
Blast gold, Tyler. What?
I never even thought this would be a topic conversation on the
show ever again after after the last few weeks and I still
haven't claimed my shit. I I need to do that.
As long as the price goes lower. I'm not claiming I'm a claim
when the price back up. That clip this weekend killed
me. Tommy.
Tyler. Tommy, what's up?
Blast Gold Season 2 is here. We we got the details in the the
DAP guide that that came out just a few days ago.
So a few highlights. A new Big Bang competition will
begin in August with gold rewards, cash funding and Co
market operating, Co marketing opportunities for teams.
We got a separate gold allocation for new Daps
specifically. So incentives for new teams to
enter the gold distributions, they're going to be made monthly
now in the first week of every month.
So we're going to have a little bit more of a steady cadence
going forward. Depps are now expected to fully
distribute their gold each month or before receiving their next
month. So again, the game is going to
be a little bit easier to to manage and track the flows.
They did lay out some issues on what to avoid to continue
receiving gold like incentivizing NFT sales or or
token sales or basically selling your gold.
And then somewhat notable prediction markets are top of
their list for the types of Depps they are incentivizing
along with some other standard categories.
So that was the bulk of the the update.
You know, it's, it's going to be a marathon, right?
It's, it's 12 months now till June 2025, though Pac-Man and
the AMA said that's the latest the next AirDrop will be.
But I think we still have to use that as our target.
Of course, the price of gold a little less enticing than it was
when we thought it was $8 a. Bar What's the What's the price
of gold right now? So it's like 90 times $1.50.
So. So that's what like $1.35?
Gold is a dollar. Yeah, with with blast at .015.
So what's, what's the latest on blast?
I think it's right around. There gold is $1.35 and and when
I claim I get to claim all my gold.
Is that how it works? You'll get blast tokens, yeah.
So the gold is done from season one.
You're it just it all converted. You're getting an allotment of
blast tokens and that's what you're going to get.
But you basically get 90. You get 90 blast tokens per per
one gold. OK.
That's all that well, that's all that fantasy top stuff you did,
right? Yeah, I'm, I'm going to have to
keep playing fancy top for another six months probably to
that. Would be.
I didn't. Put that much in what the?
What the like what what is like? Why do I have to watch this?
I got to go there. Let me just clean my shit.
I see Edmando across over 1,000,000 users.
I'm what's it? I'm actually curious.
What's the TV out now on these on these things?
Let's let's go look at I've been what's the TV out on blast, you
know? All right, I tracked this last
week. One more second.
There's a few different. Measurements.
Oh wow, yeah, that's done. I mean.
D5 llama usually is my go to right?
Yeah, there's a few different sides like 11 tracks like the
just the Ethan and USD B1 tracks, what's in the DAB.
So there's a few different measures, but regardless, I
think that is an accurate view of the ecosystem, right.
That's oh so have we hit the 14 days I wonder if that's a part
of it. So the blast AirDrop would have
been no, we're not even at the 14 days yet for folks who are on
the bridge. So I'm not sure if the bridge
funds are are reported that I would hope that they.
Are I was thinking to use the blast bridge like last month and
as soon as I hit claim and it was stuck for 14 years I was
like bro. And then two weeks later I
forgot about it. It was like 5 E 2 so I forgot
about it and then I was on vacation.
I don't know. I was like wait I have 5 E pain
somewhere. That's my surprise, yeah.
And it was right when I had to pay for some shit and the market
was like, oh, whoa. And the market was really just
like getting wrecked. So I was like, oh, fuck, I'm on
vacation and the market's getting wrecked at the same
time, right? And I found that there.
Are a couple, so like Orbiter you have to pay like a 2% fee
and then Synapse is a lower fee. So there's ways to get your
money off fast. Synapse is a great bridge by the
way. I have no affiliation
whatsoever, whatever, but I've used Synapse protocol for my
Solana a lot. Was it for for salon for what I
used it for Anyways, I've been using Synapse for a bit.
It's really, really good as a as a bridge.
It wasn't for Solano. I used to use it for base and
then before the arbitrary was really good.
So that's a really good bridge. All right, so that's the latest
on on blast gold and blast. I mean, I guess we'll see in
that ecosystem what turns out not surprised that they're
trying to push like the whole prediction markets in because
it's just, it's always like that, right when someone really
cooks like does it well, like Poly market does.
Poly market is as hot as ever. I think there is a lot that goes
into launching a successful prediction market like you have
to have tons of liquidity to to be able to allow folks to to
make these bets. So I don't think we're just
going to see one pop up. And wonder what happens post
elections. That's my biggest obviously like
always open about working on this, but I'm really curious.
But what happens post election? I mean, we know prediction
markets are very popular in times of elections, so every
four year cycle, but specifically American elections,
like even the French, like there was a huge point of French
election last week yesterday. And then in the UK as well,
right, The Labour Party won this past week.
And then, but it doesn't really matter, right?
In the states, like nobody cares in, in the, in the, in Europe,
they don't really like participate in that stuff.
So I'm curious what happens post elections, like how you keep
that momentum going. Yeah, I've seen that question
raised. I, I haven't seen any answers to
it. I, I shared the stats last week
like 97% of the money in the over $1,000,000 in action on
Pauline market bets, 97 percent is election based.
So like that is effectively going away after November.
So it's going to be interesting to see they're, they're fun.
I I think the edge on that prediction markets have is is in
politics because you can't bet those on like traditional book
sites for the most part, at least in the States.
Yeah, yeah, I mean, yeah, we'll see.
I'm, I'm curious about it. I'm super bullish on it.
I do think that it's the it's like it's one of one step closer
to a source of truth. So I think they're going to be
get adopted more and more and more.
So maybe that was the one, right.
Maybe it took like the right killer app to to during and like
to write the election cycle and post election maybe continues,
right? You never know, even when you
look for stuff like I think sports, it's huge for prediction
market, sometimes even more fun than gambling like old betting
outright on this. You go to prediction market and
see like, oh, who's like you know, who's favorited and this
and that. So I think I think for sports,
it's always going to be a thing, for example, more than just
election. So that's interesting.
All right, so that's that. What else?
What else is going on? I mean, you you talked about
this three AC sale. So that happened.
So on Friday I had these on the show and we I forgot to bring it
up. I want to bring it up because it
happened like Thursday night or something.
So three AC still had bids on. And and I guess whoever their
their auditors were who were handling the the bankruptcy just
likely didn't check these contracts and super rare.
I think it is a little bit different right than some of the
other sides. It's probably harder to see.
So it was a seer light 101 called Neon Village and the the
owner apparently realized there this bid was out there.
And I think it was his modest. So was it anonymous?
Oh, OK, wow, I'm not. Sure, I.
I haven't talked to him about it over the weekend.
I know he he had some serialite pieces.
It was kind of just like a a blast a blast in the past.
Like I remember like serialite serialite pieces were going for
100 E yeah, he was a hot, hot artist back in 2021.
Like I I wanted a serialite one O 1 we saw or capsule I think
was yeah, capsule house. Was that tied to Yeah It?
Was capsuleite. Yeah, it's like that collection
went to like a 2E four, I think it peak.
So there was definitely some seer light.
So it's so funny, apparently the liquidator Teneo did not cancel
the bid made on the Super platform almost three years ago,
prior to Three C's bankruptcy. So they've acquired a Neon
Village for 28th. Yeah, a few more.
No, that's two. That's it.
It was anonymous. Say it's right there.
Anonymous. Sony.
Hey, take the money and run baby you.
See a bit, There it is. I figured it.
Out. Fuck this.
You know what I mean? Like it's funny.
Oh my God, it's funny. So what happens now?
He doesn't have to return it. No, I think it's fair.
It's fair. I don't think he's going to
return it right now. Like raises the question of
what? Like where else do they have
bids out there? I understand.
I think after that motherfuckers probably like went and checked
every bit to hit them and did it like I have a feeling that
everybody, every art collector out there that that had was
probably on Superman this weekend.
Just check it out if they had like outstanding on some.
Pieces race to the to the. Laptop.
Oh dude it it's insane. I've been thinking about this a
lot this weekend. It's really crazy how different
this cycle looks compared to the to the last one did.
You get caught up in the One O 1 Hype Art 21.
Thankfully, I couldn't really I wasn't like I didn't have really
need, so I couldn't like just buy a ton of one O 1, but I got
caught up into buying a ton of art like a lot like additions.
I caught up. I don't regret it by the way,
because I actually, I have a very nice, I, I think I have a
really nice collection, but for someone who wasn't like buying
underneath pieces, whatever, but I did, when you look back it, it
adds up. It adds up.
What I got caught up on was the PFP made-up.
Personally speaking, I I got absolutely like obliterated.
It's like the meme coins of this cycle.
It's going to be a lot of people leaving the cycle withholding
like, oh, you were up like half a million on this PFP slash
insert meme coin and now you're seeing that you're down.
You're back down to your round trip to your initial and you're
going to sell it probably in June 2025 at break even or at
loss. I'm just saying I'm not saying
you in terms of it'll happen to me too.
I've actually I've round tripped a few meme coins already this
cycle. Right, just name of the game.
But but but yeah, I got caught up in for me it was PFPS got
caught up big time. Like definitely like ran up like
AI think. Obviously it doesn't count.
It's unrealized. Like you were looking at these
tools. You were up to like 567 million
dollar portfolio, probably backed down to like $1,000,000
portfolio. You know what I mean?
Like like it was like that. It was the the round trip of the
set. Like I bought the 9th rarest
world of woman because I don't even know why we cared about
rarity back then when the bear market just proven married
doesn't matter for $143,000 back then.
But I got lucky because someone actually bought it off me in the
bear market for 25 ETH at the bottom of ETH.
So ETH went back up so you could cope saying oh, and you was
deters, but that's cool. It's it's coke.
Like there's many such cases like Moonbirds 100, Randy Grand
and gutter. Whatever people think of my cool
cat's trade that actually ended up being like either a break
even or a huge loss, a Zuki round trip.
But it is what it is. We're back here, we're cooking,
you know what I mean? Lessons.
Where did you get caught up on last cycle?
It was generative art for me. So I actually I was selling
board apes to buy art and that that trade worked.
For like. A month or two, yeah.
And then it didn't work and then I missed.
I was apeless on the run to 150. I sold apes for cats and then
the opposite happened so I know what you mean.
I sold one of my apes for, for a rare wicked cranium.
So that's a very painful one in the in the history books.
And then we're just, we're just kind of saying, like I had
buddies telling me in 2021, like this generic of art is a bubble.
Like, Are you sure all the stuff is really good?
And I was like convinced I was going to sell all these pieces
to museums one day. So I think we have to apply
those lessons to this, to this cycle, whenever we think.
It's the same thing. It's meme coins like last cycle.
I thought about this subscription a lot, Tyler and
kiss your thoughts. Last cycle, the narrative was
NFTS which onboarded the masses. True story.
Not even just like saying onboard the masses.
True story. NFTS onboard a fuck ton of
people to crypto, including myself, including Mando.
Mando's first buy was a Hackatau and she bought off Danny I think
or sold it to Danny and started or it was a fuel.
I forget right. So even Mando and OV sorry
myself. NFTS, a lot of people listening
to the space actually, I recognize faces given through
2021, the clubhouse spaces like for stuff like that and this
cycle is the same thing, but it's meme coins.
The only difference here, I think the the lifespan of a meme
coin is less than an FT collection.
Like the for example, you look at the Coalcast run from zero to
15 eighth $50,000 floor was long months.
It's under 48, but again, there are some meme coins we're
talking about Popcap, we're talking about Pepe same thing
it's only a handful that are still trading very high right
now. So you could compare it 1 to one
almost. I don't want to say, Oh, this is
the bake of that, because it's not, but like, you know, you
have the Pepe, which is the leader of this meme corn cycle,
followed by Mogg, which is it's it's secondary one, the non
salon. You have whiff and popcat and
you have all the other stuff. Well, Billy now, so I don't
know. I think it's very similar in
terms of cycle and meme coins are bringing this cycle, the
people involved, but the organic ones, not the celebrity meme
coins, but I'm talking about the Billy's of this world.
Pepe was fucking styler trade for a lot of people, right.
What do you think? I think there's a lot of
similarities between the R TS and and meme coins.
I do think they're bringing in people.
They're bringing in more retail than I think some folks will
give a credit for. Like I had a random friend, I
got the message when he joined Telegram a couple months ago.
So I struck up a conversation with them, a friend from grade
school. And I was like, what brought you
into Telegram? Because I assumed like it might
be something crypto or late because it's probably like, you
know, either stock trading or, or crypto trading.
It's getting someone new on the Telegram these days.
And it was crypto and I asked someone he was getting into and
he was getting into Brett. He who's asking me thoughts of
on the Brett point on base. I was like.
It's not even. They have a lot of outreach.
Like outside. Yeah, they're doing a lot of
marketing. I think my, my, the lesson there
is, is I think there are people coming in.
I, I think the, the question is, are they going to stick around?
So I feel like a lot of folks came in for NFTSI guess, I guess
it's the same like a lot of people came in for 20/21, right?
Some stayed through 2022 and then like ultimately a core
group stuck around. I think the the questions are we
going to see that play out? I think it's perhaps too early
you see, but it doesn't, I think folks are worried about the meme
coin experience. Is it going to be a negative
experience for newcomers when it was kind?
Of one next like how many people you know about NF TS off the NFT
page on Instagram because offset made a 10K collection and went
to 0. It is exactly the same and I
think that's why part of my problem with everyone, like
raising the pitchforks against meme coins, is I don't think we
did. We didn't see this hatred
against the NFTS like this strong, did we?
No because you were stuck with a piece of art that you could show
people. So at Thanksgiving dinner you
can look at your goofy ass 10K PFP and show people.
Or like Steve Aoki in the middle of his set showing his doodle
that he paid 1 to $2,000,000 for.
You can't show the transaction hash.
I'm like, oh, look what this mean or this problem or this.
That's why we like like the right means like the hat stays
on. It's a cute little dog.
Billy's cute little dog. You can't really show it.
Yeah, you can't materialize it. Show it, right.
That's your Unicorn. You can only see your holdings,
which is you have top signal. Oh, how much I made of this
coin. But even like my friends the
cycle, like they they only the ones that are involved in I have
very I have way less normally friends involved the cycle in
crypto maybe 110th, another 110th.
They only need to show me coins. They love trading coins.
They love it it. And actually they haven't sent
me a single coin over the last bear market.
The bear sorry, last couple weeks, which goes to show you
they only come back when, when, when, when the prices are are
higher. But I don't know.
I think I think it's very similar.
And this is also why I don't think we're out of it.
Like there was a very similar extreme dip in meme coins in the
NFTS in the summer of 21, which actually was a famous article on
Forbes and our others saying that NFTS were a dead technology
and it was all going to zero. And then our block summer crypto
punk summer, blah, blah, blah. So that's that.
That's what happened. I mean, Penguins are, you know,
Luca, what he's doing, if he's successful, which I believe he
will be because I believe in him as a founder, is things like
that that are really good for the ecosystem in general for
NFTS. But I don't know, I guess we'll
see, man. I guess we'll see.
I'm much more bullish on on on memes than I am on alts, that's
for sure. I do think they're much better
beta to the market in general. Because when you think about it,
and we talked about this with these Friday Tyler was why does
X need a coin if it's just a technology that we're using?
And then you're like, well, that's the bullish case on meme
coins. But I guess things are changing
right now. It's so weird, right?
It must be weird being like a fourth or fifth cycler because
you're really seeing things change our IRL.
I mean, it's just my second one. It's probably a part of some of
the, the, the anger or, or just dissatisfaction with where we're
at. I guess it's coming from, from
that cohort. I'm with you.
I think the, the meme season will continue to see like lulls
and then we'll see like the periods of, of more
hyperactivity, just like we, we saw with the NNT cycle in
2021-2022. And I think, I don't think we've
seen the tops on some of the, the winners.
Again, it's hard to, to pick all the winners.
I think Pepe is pretty much a clear winner at this point.
We'll see like Bonk versus Whiff.
They're battling it out. I I still think Whiff is the
winner on Solana that that's becoming like an unpopular take.
I like this. So the reason why I'm sticking
to this trade and I've talked about this with OV is because
it's become such an unpopular opinion.
Like it is so hated. So I think Ovi was saying that
it reminds him of the board ape trade.
When they took it with Mando. It was like the most hated NFT
ever. I mean everybody hated on apes
like everyone because everybody missed it.
But I don't know. Yeah, Kobe was fighting a
consensus trades, right. Whenever there's a consensus
trade, that's usually a that's, you know, like I don't like.
Would you classify WIP as a consensus trade I.
Think WIP is a consensus short? As a matter of fact, I believe
that consensus is that Bitcoin's going to 44K or 30K right now.
Feeling like consensus, yes, I treated.
That this morning I said I said, what if we never go as low as
bears say just because it has become consensus that we're
going so much slower and I thought that's honestly what I
thought about this morning, guys.
It's like what if we don't go as low as people say?
Because if do you know how like when everybody's too bulled up,
we never go that high. Why does the opposite not apply?
So what if we just range in 5560 for another three months?
So that means I'm wrong. We don't go to 70 like the bulls
are all the bulls are like 707070 like us and the bears are
404040. What if we just painfully trade
for the rest of the summer it. Would be painful.
I I can tell you that. Like the wild card is still the
ATTFS right? Like those could happen.
What if the ECTFS are positive? Consensus is that ECTF is a
negative. Correct, right?
I'm reading it right, unless I'm consensus is that ECTFS are
going to bring not enough volume, not going to be liked
enough. Wall Street doesn't want it as
much. But you have a self-made
billionaire, the most powerful, one of the most powerful man on
earth, I think talking about tokenizing the world.
So I'm just like, what if? So I just want to raise that
question for people on the Monday morning.
Think about this. We'll probably leave you off on
that soon. What if?
What if we go higher? What if?
And you can short what if to with.
It's, it's funny, like, well, we talked a little bit about the
fear and greed index, but literally like the fear and
greed index is matching where it was when Bitcoin was like 22 K.
Let's look at that. And the timeline matches that.
Like the, the timeline was just so, so bearish.
I feel like this is the environment.
I mean. Where, you know, we could get
the rally. The timeline dude.
Reading the timeline makes me want to sell everything I own
yet my own convictions, which is why I'm not selling shit by the
way. I'm all in.
I've been all in the market since $1200.
I haven't sold crap and trust me, there are times where I was
sick. I had talked about on the show,
remember when I said I sold everything and all my way for
the next one? I woke up everybody but all back
at the same price. I'm just happy.
So I'm back in all in. Like sometimes you feel like
shit but you can't have the asymmetrical gains of crypto and
change your life and not have go through the 70% drawdowns, you
know what I mean? Yeah, it's not that easy.
You're either bitch mate, or you're not, you know, and I
decided not to be anyways. Is there anything else, Tyler,
that, that, that we didn't cover or not?
Is there anything else? I guess quick shout out to fancy
top. I think so they're going live in
4 minutes. 16,000 players rigged for these tournaments.
That that surprised me. I I didn't think we would see
for the main tournaments that are starting here in 4 minutes.
Whoa. No, I couldn't.
Hold on, you're gonna miss it unless you unless you really get
in there 4 minutes. 4 minutes. Hold on, let's do this right
now, let's do it right now, let's do it right now.
I'll do. I'll go for gold, I'll go for
gold 'cause I'm not good enough for elite.
Are you kidding me? 4 minutes holds up for.
You OK? Well, is Pac-Man gonna tweet or
not? Nine O 59's back.
Lupify's definitely tweeting that.
MFR loves it. Jesus.
Jesus sober we got to play these.
Hope our Dean's bro is a Is Pac-Man going to tweet?
Yes. He has to.
OK, three stars. Oh, fuck.
Oh, I'm. I'm a great three star.
I'm gonna play myself here. Oh.
Boy, he's betting on himself, folks.
I get another deck in there all. Right, it's good enough.
Should I submit another gold deck or another like less good
deck? How?
Many more I. Don't have insane cards.
Oh fuck fuck fuck it's not working.
Hold on, that's not what. I can hold on, we can.
We can post the vlog and get some numbers, it's fine.
Yeah, exactly. Yeah, You know what?
OK, perfect. Thank you, Simpson.
Yes. Let's go.
That's my team. Hold on, hold on.
Let's go. Let's register a suburb.
Silver is it's a 22 cap. So you're going to have to,
you're going to test. On good all right we're sticking
a gold let's go Allon OSF is on fire mendel's right the guy has
good scar heated he's tweeting more than he's ever tweeted and
he's like vidamo's always a good bet razzmar's killing it and was
Leo you're. Not going to get all those guys
in there. It's going to be too many
stairs, OK? I still have 02.
Oh yeah, hero I pick. That's probably.
Good hero I pick two star. That's a good deck.
All right. Next do I have do you think I
have Nah, do. You have a couple minutes.
Yeah, do I have room for good or I can do another?
Oh, this is a good deck. TG Bold Vidamo.
Hold on, hold on. I have an idea for a good other
deck here. Vidamo.
What? Oh, I have Charlotte Fang too.
I forgot she's got T GS Dropping Andrew Tate today.
Yep, boldly, it's a good play. Boldly O loom dart epic sorry
rare. OK, A1 star left though, yeah.
Too much. I think we got to remove bold
here, right? Or OK, we got to remove bold
here. So that leaves us 6 moves.
Charlotte, what do you think? Or War Daddy could be all right.
And then see, now I have room for Ward.
That's a nice deck. Got it in there all right.
At least you got some teams I. Just rolled over my toe with my
chair. Yeah, I am unburdened, but what
has been? What can be unburdened but what
has been? Do I have time to put in a quick
little silver deck or what? Let's do it.
You got another. Man I like silver.
What's the Max 22 stars silver? You'll go lower, guys.
Yeah, so you go with like Moon. Dude this and try this could be
good. You go with dude ass, you go
with Travis. How many stars that's left?
Six. And eight.
So I can do A5 and A3 like I can do easy and and Andy and the
epic feels good here, you know. And then what loom?
What are you thinking? You got to go.
You got to go common so. Loom easy.
Yeah, loom loomy. That's that's a good that's a
proper silver deck. OK, one more, one more silver.
Save me, save me. So what are we winning here now
that there's no more gold? So 11 eighth per tournament and
prizes. I think that they didn't
advertise any gold, but like we I think we expect them to get
gold. So I think there is expected.
So I think there will be gold on the line.
OK, OK. Where's Kelly?
Was Kelly on vacation or what he's been?
I'm playing him. I hope he's back.
I, I think what, what we're going to see here, I think most
people are just going to revert to a total totally normal
tweeting strategy. I don't think we're going to see
people like, really, that's like a mess that's.
Not a bad thing for secondary silver.
I'll take that. Man is CEO for Billy Now, Paulie
Market intern, OV Calio and Mikado Solid.
That's a good team. It's a good team, it's a good
team all. Right team can win where that
team could can actually win. I, I, I think I've put in some
good. What do we have?
We have three teams. We have three teams here in
gold. Three.
OK, I put five teams in. I'm I'm happy with that.
It's starting now. So anyways, I have oh, it's 1-2
days. Oh, it starts.
Wait. You got in right there.
So 3 days? Did we just get in at the
cutoff? Yeah, you got in like literally
before it. Are you sure I got in?
Go to your homepage. Homepage.
View all up top, View all. What do you see that?
Right above the white squares there's a View All button.
There you are. Oh, oh, we made three golds and
two silvers. You got it, You're in there.
Save. My ass and there's a there's a
good tease too, dude, I I like this.
I like this all right, save my ass with that, Tyler, thank you
very much. I'm going to go and get my teeth
pulled out. So I'll be on the show tomorrow,
hopefully I, I think I'll be on, but I'll probably be like, so
Tyler's probably going to take the reins here.
But don't worry, I'll still schedule all that.
And with that, we'll see y'all tomorrow morning, 10:00 AM
Eastern Standard Time for the episode of FOMO on Rock Radio
Lunch.