Well, GMGM everyone, it's another day another day without
for Oak or even OSF today. Think OSF has missed it.
We're replacing them both again. Had some good shows recently.
We've got cows coming in obviously one of the Co
founders, Canary Labs you on stage.
Oh you let me let me add you on stage just there and we have
Wizard of Soho who is I know the creator of one of the best best
and what biggest now paid newsletters in all the crypto
you are you are you're crushing it on that side but a well known
person on the timeline. Thanks to thanks for joining me
both. How how are you both doing?
Good man. Just you know, exciting markets,
exciting times, a lot of stuff going on.
Exciting day today, you know, got a lot of TG events.
We had one this morning, excited for that.
We got juice finance coming up later, a couple other meme coin
launches. You know, listen, it's it's fun
times out there. Constant adrenaline nourish.
That is it. It's just a meme coin launch
after meme coin launch at the moment definitely a bull market
we'll get straight into things just because it feels like feels
like we should we I think yesterday we're kind of we were
kind of around the same sort of levels crypto was was around 70K
on Bitcoin. I think Solana was maybe around
slightly lower like 193 and and Ethers as was was around the
same 3600. So it's been a decent day across
crypto at the moment. We have since sold off kind of
as the US kind of went live and it's been a little bit weaker
over the last 1020 minutes. I think there's a little bit of
fear of like a double top here. Like we haven't really gone back
to the all time high. We've gone just just shy of that
and then dip lower and people thinking we could range around
this sort of level for a while. I know KPM was was tweeting
about that yesterday and a few other people saying, you know
although we've seen good strength, this kind of still
feels a bit range bound What what what are you thinking whiz
how how you looking at the market here?
Yeah, I mean I think that makes sense.
You know the usually I I mean it's actually exactly how you
said when you get that like that weird M like where the the left
peak is bigger. I like I'm not ATA guy but like
just from seeing the markets and charts all day every day for the
last 15 years, like you always see that kind of pattern not
obviously that could be completely invalidated with some
strong inflows on BTC and you know all this chart work and
views can be nonsense but assuming we just see consistent
the same consistent data on inflows outflows that we've been
seeing over the last little while.
Yeah, I mean range from would make sense.
You know that 195 level on Solana is definitely you know
been pushing back down for sure. It's kind of not too bad it
broke out of that 3500 went to 36 something today came back
lower again over the last 20-30 minutes and it's doing that same
pattern as well. So yeah, bearing anything
significant on outflows, I don't see why we don't range for a
while. I saw a couple of polls put out
the ice bags, put a poll, he did it like couple days ago on how
long it'll be till you see another BTC high.
And I think it was 3 days ago when market was like under a lot
of pressure, it was three months.
Was that the poll? And I think he did it yesterday
and it was like, I think it's like one week or something.
So those kind of polls are always you know nice little
market sentiment inverse indicators.
So if that if we go off that it would mean that we would
probably be range bound for a little while which makes sense.
You know, maybe we start up again into fall or maybe we
start up in like few weeks when some big bar program comes in
like very tough to tell, right? Now I mean this morning we
really weren't far off I'm I'm sharing some screens here
Simpson if you you can see. But yeah, we we were only 5% off
a high all time highs on Bitcoin and I think we got to the first
inflow day in what was that we had five outflow of days and one
inflow day. Interestingly, it was still a
really bad day for for Grayscale, who likely still
have, you know over a billion of of GBTC Genesis to have over a
billion of GBTC to sell. So I don't think that figures
probably going to slow over the coming days, but I I kind of
felt like we were, we'd seen a big inflow day yesterday given
the rip. I mean Bitcoin moved what, 10%
over the last few days and most altcoins moved 10 to 20%.
But actually this was kind of tame, only 15,000,000 of
inflows. So I was a little bit surprised
at the the aggressiveness of that move.
Obviously this, this, this outflows on.
Maybe we're already looking past them because this is going to
slow down for sure in the coming days.
But I I thought that was interesting.
There were some pretty bullish I think headlines on the on the
issue institutional side at least gold miners now starting
to buy Bitcoin. It looks like South South
American gold miner nylon resources, nylon resources
resources going to buy 1.7 billion of Bitcoin.
I think it's kind of ironic that you have gold miners now buying
buying Bitcoin, but this is kind of what we said yesterday.
It's a lot easier now for institutions to get involved in
the space and I think you're going to see a lot of corporate
treasuries come that's way 1.7 billion isn't massive.
I think you know with with Bitcoin, you know, over a
trillion, but it's still, it's still a good sign, right.
This is. I thought this was kind of wild
news to see what do you think about this cows.
I know I saw you tweet about it. I I was just like what is
happening? But then I feel like that is the
defining feeling of like just that hyperbolic move higher when
you just like crazy stuff that you had never thought about just
happens like the market cap of this gold miner was 1,000,000
bucks because it's like some penny stock and they're buying
some entity in Mauritius or something.
I don't know. But I think it's bullish broadly
just that this type of thing is happening and the these type of
trades are going on and and they're on the kind of minds of
non crypto people as a way to generate value or change
direction etcetera. Yeah.
Yeah, that that was it. Like, I have everyone that was
going to buy Bitcoin. I didn't think it would be a
gold miner like. Which that was fake news.
No, I don't think it was fake news.
Where is it? Wait, So what does your thing
say? Sal is not buying 1.7 billion in
Bitcoin. Oh, right.
What is this? They're buying some entity,
which they're buying my own Bitcoin, which owns.
Basically. Oh, OK.
Wait, so this was a penny stock. How much did it pump on that
news? I didn't see.
I think it was in post market yesterday.
So this morning at the farm. Actually, this does look like a
slightly strange article, and I have bring what having brought
it up, it does feel as though it definitely wasn't what people
initially thought. It looks like this was this was
a stunt from a dying penny stock.
That's. What it seems like Wait, can you
check? Let's pull up the chart.
Because. That market cap is 110 mil this
morning, right? OK, 100 X.
This is clearly fake news, people.
We we started the news there. Yeah, it looks like it was.
Wait, does it really go up 100 X?
May I mean, I don't know where this stock even trades.
Let's let's pull up. Is there a ticker over there?
It's up 600%, that's. 4 mils? That's still incredible 5.
Mil. For peace thought, like moving
up that much. I mean this.
I mean, clearly a fake drop. Incredible.
I mean, it's like shit coins, basically.
But up 100 million? Yeah, Wild that is.
That is a wild move. But does look like it.
This isn't maybe a what it seemingly was at the start.
It looks like it was. It's very, it's just an
intention to buy it looks like and it may be buy Rs structure.
So yeah, I don't know if that's the main headline.
I think then the main headline would be this would be this UK
headline that they're going to start listing Etns.
That is a real headline. Looks like they're going to be
coming in May. There were rumours of this a
couple of months back. London Stock Exchange is
obviously one of the biggest stock exchanges in the world,
these ETFs coming through. And then I even saw this morning
that there was more headlines I think from Bloomberg analyst.
Let me bring that up. Was it James safe up?
Yes, he posted about, oh there we go.
Looks like Hong Kong is going to allow in kind creations and
redemptions for spot Bitcoin ETS in the second quarter which
could help spark AUM and volume in the fastest growing region by
our new note today. So a new Bloomberg article
basically saying that Hong Kong's going to be going to be
big for this ETF space. So definitely still
institutional demand looks like that that that gold that gold
miner headline was was kind of fake news.
Maybe that's why we sold off, who knows, that wasn't a massive
figure but definitely showed some institutions buying and
that that appears to be fake news.
There was also a bit of a back and forth here.
We spoke about this kind of at length yesterday.
We don't need, we need to go rehash it too much.
But the the, the chief legal officer of Ripple and the
Bloomberg analyst kind of went back and forth on whether we
think a spot ETTF is going to happen.
Craig Solm, I think his name is came in and basically said it's
not so bad that they haven't come back and said anything.
The SEC should have made some comments by now but they
haven't. He basically says you know no
news is not necessarily bad news it it, it could happen and the
Bloomberg analyst came slapped slapped back and just said look
it I still think it's 25% odds. Interestingly it looks as though
the discount on the on the grayscale ETF asset has has
fallen quite a bit recently. So it's it's about 22% which
probably that's where the market is pricing that's a decent
discount on the ETF. So what do you think whiz?
I know you you've been more bullish on honey just because
it's now more of a tail event and you think it could still
happen. Yeah, you know it's the, you
know first like what are the things that make will make the
like what's the the hurdles the ETTF has that BTCETF didn't have
to go through, right. The biggest thing is that all
Bitcoin Maxis are going to push for not having an ET to the ETF,
right? That like that's something BTC
did not have to go through and you're already kind of seeing it
out there like where people are like like a lot of like big big
name BTC Maxis who were like hard pushing, putting funds
behind it. But even if you look at the
bigger guys like you know the Gemini guys like the Winklevoss
twins and stuff, you're not hearing much on, like you were
constantly hearing about BTCETF from them, but you're not.
So the big hurdle that they'll have to get ETETTF has to get
over is the fact that, you know, there's gonna be a huge army of
BTC Maxis in the government and outside the government and the
lobbying that are gonna push back against it.
You know, 'cause there's no even like Sailor, like, you think
Sailor is gonna be like, yeah, let's have a ETF.
Like, if anybody, if SEC was like, hey, here's the expert,
let's get some advice from him. He's going to be like, hell, no,
no, there's going to be no ETF. So I think that's going to be,
in my opinion, that's the biggest hurdle.
I think the biggest pro it has is obviously Larry Fink's been
on the air like several times talking about it.
And you know, it's kind of tough to fade somebody at that status.
They just put their digital fund on each, which you know at least
shows that they don't think it's like a scan coin like all the
BTC Maxis. But you know that that's kind of
the, you know, the pros that I see.
So I think it's but I think it's a tail event.
I think it's not priced in at all.
If anything is maybe a 10 to 15% priced in, which makes it a
great upside trade, right? Like, what's your downside on
this? Like if the entire market's
pumping no matter what, it's going to pump, but you get pump
on this news, then you have a whole different ball game,
right? Then you're looking at a easy
like 3040% minimum, maybe 50% gain relative to the rest of the
market, which I think that's the game to play for if you are a
betting guy on that kind of thing.
Yeah, I I saw ADC investor with a similar take yesterday.
Obviously mega ETH bull here, which was let me say it God, he
tweets a lot. He basically said the same
thing. Yeah, I'll say it again.
If the ETF gets approved in May and all the rejection stuff has
been psyops, then prepare for a rapid rage pump to 10 Ki mean
he's super bullish Eve. It may happen, it may happen.
I don't. I think we spoke about yesterday
that we don't think the ETF has got anywhere near the same level
of demand as the Bitcoin ETF, but it is now I think kind of
being priced in at this sort of level at least like 30%
probability. I think that it's not going to
happen. I I think if it if we got the
headline tomorrow that the ETTF is not going to happen.
I do think it would sell off, but the sell off would be
nowhere near the pump that would happen if if it if they said it
was going to happen. So I I I see what you're saying.
I still think my base case is that this is not happening now
just because of the commentary around this.
But definitely the risk reward is starting to look slightly
more interesting here. I don't think I absolutely pukes
if it gets rejected just because I don't think this is this is
like it gets rejected and never gets fucked out again.
I think we'll probably in a scenario where it can get
challenged and caught by one of the major players.
Look we macro today has been has been kind of quiet.
We're in for a little bit of a quiet week just because of just
because it's a bit of a holiday week.
This week I I did bring up something because I thought it
was quite funny. I don't normally bring up single
stocks, but have you seen what's been happening with Trump?
So Trump has got this true social Which looks.
Like what do you mean? So Trump's true social is going
to get listed. Today.
Oh, it's going to be listed. It's a SPAC.
It's a SPAC takeover, I think, right?
Yeah, SPAC takeover and. Oh, that's Big Trump.
'S going to make 4 billion, it looks like from this.
It's like a wild valuation versus like Twitter, but it's
get the first day, it's getting listed today.
So I don't know if it's live now it's it's going under.
Let's have a look at this thing. D WAC is the, is the name.
Of the well he got his money to pay his his bonds.
Now, whatever, right. Yeah, they they brought the oh,
here we go. Digital World Acquisition
Corpus, isn't it. This must be.
I mean, it's got to have a lot of value because like the ad
companies they want to target like conservatives.
I mean, there's no better place. And conservatives spend money
too, right? So.
I think this is it. I think it's been listed on the.
Just it? Yeah. 78 bucks.
What? What's the market cap on that
damn 30 minutes ago? Oh, it's flying. 2 billion it
looks like, but I'm not. I'm not 100%.
Sure, if it's the right thing. I'm not 100% sure.
It looks like this has been around for a while.
Yeah, it's called DJT. That's the ticker.
That's hilarious. Oh, anyway, look, be on the
lookout. There's going to be a lot of
wild headlines around Trump's wealth here because this is a
SPAC, which is basically gone live on the NASDAQ today.
And a lot of the the problems around Trump's financing, I
think are going to come into the forefront.
But yeah, I just thought that was an interesting.
He's posted the bail. He's he's posted bail.
Yeah, the bail came down like like it was only like 175
million in the. End only 195, yeah and then he
posted. I think usually you post like
20% for the bond and he posted cash.
Do you see that video? Oh.
Yeah, did see that. Did see that money?
But anyway, yeah, that that came out obviously the Diddy
headlines yesterday and then you had Newman looking like looking
like he's trying to buy back. We work for 500 million, which I
thought was he has really crushed that trade.
Adam Newman. I mean, it's not.
A bad time to get into commercial real estate, right?
Like rates are at all time highs.
Commercial real estate values have been like are in the
toilet, basically. Oh yeah.
You have to assume that there's somewhere near the lows if like
some of these cities in the US start to clean up their act a
bit. San Francisco, for example.
So I I think it could be a good trade for him.
Like he topped it on the way out.
He looks like he's bottom ticking it on the way back in.
Like fair play, Yeah. Yeah, there was a good thing on
all in actually a few weeks back, which is like he he really
got screwed on the financing more than anything.
Like he actually, they're probably, they were kind to him,
they were kind to him. But he does know how to create.
He does know how to create a product, Let's put it that way.
100% He didn't get screwed on the financing.
Like, yeah, let's put new works are nice places to work.
I know if you've ever like. Yeah, yeah, easily one of the
nicest. They're kind of, I think, in the
current environment at that time.
At that time they were definitely pushing the
boundaries of like what could be considered like good workspace
for sure, but the whole thing was totally unsustainable.
They were like 60% of the new rental market year after year in
most major. Cities.
I guess what I'm trying to say is that's a problem of of size
and financing. Like, he's not a bit, but like
the actual style of the office, I kind of like.
I don't know if you can even extract the two from the other,
like one from the other, but yeah.
I think, I think, I think you can.
I think if he comes back and he financings right, like I do
think like you said you can get cheap cheap commercial real
estate right now that that could be an interesting one.
Anyways you move back into crypto.
I don't want to linger too much for macro, but boring market
right now in macro I think it's going to be quiet for the rest
of the week. There's very little going on but
those are some single things that that maybe look and then we
can get back into what's been going on in meme coins.
Decent day for meme coins yesterday with went back above 3
billion. Number of other Solana meme
coins doing well over the last. Over the last 24 hours I think
you had a number of different listings.
Again any any of these like mid tier Solana meme coins are
starting to get listed. I think when got listed.
Slough I think is getting listed on a few different places again
and people just want to list Solana meme coins because the.
The. Volumes going through are just
crazy compared to some of the other exchanges.
Anything you that caught your eye Wiz I know you're you're big
in the left curve part of the market.
Yeah, you know. This new thing, right?
Like. What is new?
That's literally what the ticker I just clicked on that kind of
just took us. So what I I I kind of didn't
look at it deep enough. Obviously the moment I looked at
it, it was at like 203 hundred million.
Was this like a pre sale or like what?
Like, what's the background on this, do you know?
I didn't know. I think it was probably part pre
sale, but IT people said it was related to the Ship Co founder
like it's somehow related to a ship Co founder.
Oh, that's a classic. OK, which is, like, actually a
classic. He's.
Actually, it's kind. Of true it.
Probably is true but. It could be, yeah, yeah, for
sure. How many?
People worked on ship at the start like tons so.
Yeah no it could be true. I know that ship people they ran
they if if eat Denver. There were rumors that ship
founder was there doing was raising money for something.
I don't know if this is what it was.
I'll be surprised if he did it on Solana.
But there was a chatter that I heard in like inner circles
where that like the actual ship founder was there chatting with
key people and he raised like some ten $15 million in like 24
to 48 hours just in a couple meetings.
But I thought that was something to do with the something coming
on Ethereum possibly, but. Who knows?
I mean the fact that the things that's 200 million already 2.
100 million like you speed running these things.
Speed running. These things, everything's like
you're going, that's the crazy thing right now.
Like after boom, it seems like coins are just doing like like
10 month, 12 month cycles in like hours.
Like it's instantaneous generational wells like you.
You ape in and like By afternoon you ape in like $1000 and by
night time you've retired. You're like 10 generations like,
like. You have to be paying.
Attention 100%. I mean, but the question is what
did this launch at like was this something like you could
actually like capture that much because like it launched this
morning, right? Well, there was a trader that
this this story went viral that made like he.
Didn't cash out. Well, I think it's probably
around the same level that it was when he when he top ticked
it. Oh, he did sell.
Oh, I didn't know if he. Sold.
I don't know if he sold. I thought there was a wallet
that went from like, which I'm going to assume was like a team
sniper wallet because it didn't sell at all.
But it went to eight, $10 million from like a couple
thousand. But like this one this launched
at oh damn, it did launch at like a a kind of.
So it launched at 4 zeros and 35.
Wow. It actually did fucking.
It's like 100 X. So yeah, Trader made $20
million. You are, as we say, you can
retire yourself in a few generations in Solana Meme Coin
season. This is just another one today.
That's insane, right? Like, OK, Like, isn't that mind
blowing? Like from like, the world we
came from and like, even where we're right now?
Like even in Meme Coin Man 2021 you didn't see anything like
this. Dude, like, even 2020 million it
was it was wild, right? Like now it's 200.
Yeah, exactly. Yeah, like 100 million is like
the new 10 million. It almost, it seems like if you
catch a couple good like everyday coins are going like
5000 fifty hundred 5000, like 100% insane.
Yeah, I. Really fucking crushed it.
How long did it take for Mog, for example, to get to 20?
I remember it just being like, oh, this is taking.
Yeah, eight months. It's consolidated.
Mog consolidated at that 8 to 15, eight to 1520 million range
for eight months. And then like when it's like
pumping, it pumped hard, it got to 500, now it's consolidating
again. But but that's also like
Ethereum, right? Like like the volume.
And I'm a, you know, big fan of Mog, but like the volume Mog is
doing, which is like probably one of the bigger coins, meme
coins on Ethereum, it's like like 500K meme coins on Solana
are doing more per hour volume like that.
Mind blowing? Like what the fuck?
So, my Mog. Yeah a volume yesterday and
Solana meme coins, yeah like you said like if I go down the list
we get to about number was that 30 before we get to five and a
half million roughly like it is. The 30 memes on Solana are doing
more than one of the top on chain memes at least on on East
it's it's a big big difference. It's definitely come a bit more
multi chain though, like a lot of these base tokens.
Again, having a good day, the top tokens forgot yesterday's D
Gen. tokens down a little bit, but all the all the followers
Brett which is a. Popular one, Yeah, but that's
not a meme point, right? D Gen's like isn't that part of
like FARC? It's more to it, yeah.
It's got a bit more to it, but like so.
But look at that. Look at look at that list 1.
Meme one is a a utility coin. And isn't it all just meme
coins? Yeah, it is, of course.
I mean, mean coins is this space at the moment.
I know this show has become more talking about it because that
you know if people. Are making $20 million.
That's what you should talk about.
Yeah. Yeah, that's.
Been making $20 million a day. I think people do want to hear
about it and people are following where that's
happening. So I think you just have to have
to accept it. But yeah, the one of.
The big ones, I mean yesterday. Or was it day before Based in
more volume than Solana? It was like 2.1 billion, which
is interesting. So I think, I think it's now
it's on deck Screener it's saying 2 billion again for
Solana and and bases it's definitely cooled down since
then it's about 700 million but it's you know it's two very
decent volume. See, that's a lot.
Still very, very TBL. Then blast too, right?
Like I saw on your newsletter, it's like that.
Yeah, yeah, it's well, it's getting there.
It's getting a very it's it's about to flip it, I think.
So kind of crazy move there. Talking about BLAST, we did see
we spoke about this yield token yesterday.
They changed their Tokenomics. It then promptly dropped 50%,
which I thought was when they changed it.
I I don't know the game that well, but they changed it so
that so that like Wales were slightly hurt on the Tokenomics
side of things like they won't get their distributions as quick
and that caused a bit of a dip. It looked like it was positive
for the long, long term. Did I call that?
Yesterday on the show. I actually don't know.
But maybe that's a double top look at that.
I mean, it might not be long term, but damn, they smashed it
right at that level. Yeah, so that's when the
announcement came it. It then promptly dropped 50%.
I think I actually looked through the announcement, yes,
this morning, 'cause I was like, what the hell happened there?
And Eric EB seven, he was more bullish about it.
Let me just share this tab. So he said the Crypto Valley's
update from today is actually incredible.
I'm convinced, I mean this is one of these tweets, but I'm
convinced the team behind this understands tokenomics, the
level of Pac-Man, the Blur team, highest compliment update
preachers analysis courtesy of Mod dog.
They basically, I don't know the game that well, but they
basically I think have made it so that Wales don't get as many
tokens and some of those Wales were pissed, so that's why it
went lower. But it it looks like it could be
positive for the long term. Who knows these things?
Are wrong. They don't.
But at the same time that was
definitely one that took a lot of attention in the NFT state
and I I'm not calling the end of it just yet.
Like people do love this game. Like it's kind of addictive if
you've you've. Really.
Yeah. I think Red Guy tweets about it.
Non-stop loving it. If I typed in yield right now, I
would say you know at least 5 to 10 top NFT people are getting
involved in this thing high. Yeah, I saw DS on it too.
Yeah, yeah. Ike DS Oh, Moon Cat.
Obviously. Yeah, just a bunch.
A bunch. Of Moon Cat too.
Yeah, that's right. I did see that he has.
He's a frontline. Soldier He's a frontline soldier
for sure. Yeah, 100%.
He likes getting involved in everything, but yeah, this has
definitely been one that a lot of people have picked up on.
I don't think I wouldn't call the end of it just yet.
What else is on blast like the like I'm not like meme coins
kind of didn't. Or how's that Pac-Man did PAC
Moon I thought that was kind of. It's something to be, yeah.
So PAC Man's having a decent 24 hours, it's back up to $32
million market cap now. So that's I think an all time
high. I mean just looking at these
numbers, 137 million of volume has gone through over the last
24 hours versus 700 million on base.
It kind of tells and these are similar TVLS, there is less,
there's less trading for sure on blast like there's less things
even though they have high TVLA. Lot of that is just farming the
the upcoming AirDrop. There's far less actual activity
it feels like. So yield this crypto values is
definitely one of the more interesting things to to happen
there. But.
It's yeah, it's really nothing. You're right.
It's more it's more farming D5 stuff.
So like juice Finance, like they have their token launched today
and that's on blast. So that'll do the probably the
most exciting thing on blast. Since, yeah, so you're going to
start to see some of their own, like native D5 things.
Now sometimes juice is a lending profile which platform which you
get a bunch of gold, they've got like a lot of the big gold blast
incentives are are through there and that's reached about 200
million plus TBL. So that's going to, that's going
to be one of the bigger launches I think.
I think it's definitely one of the biggest things in terms of
TBL, but does this. Chain look like long term like
is it going to be able to sustain itself once the kind of
rewards trickle off? Is that never, is that just
never going to happen? Are people going to have their,
like, eat steak there forever? Like what's the long term
picture? So I think it's it's a difficult
one because you look at what happened with Blur and Blur won
a ton of let's say similarly one ton of market share and has
since kind of bled out in terms of market share.
Like Magic Eden is now beating it pretty comfortable for market
share. I think Magic Eden's beating it
obviously for revenue as well. So it's interesting to see.
But the Ponzi will keep going or at least like the the idea of
staying involved or keep going. So I'm sure like there'll be
points and this, this current season will go to a season
34567. So hopefully this time this
gives it time to fill out more long term protocols.
There's a lot more things which are only on blast.
On blast, they're not, they're not cross chain.
A lot of the stuff here, and in fact a lot of the cross chain
stuff gets, gets like nerfed in terms of points.
So it's. Which is stupid, by the way.
Like, if you're another chain, you're bringing community over
to blast and you're getting nerfed.
Like, I thought I was wasabi, Like, they brought from mainnet,
like from and over. And they got nerfed and I was
like, man, they're bringing people over.
And I don't know, that's like a weird thing.
But yeah, whatever. I guess my question is more
like, can you long term, do you actually sustain real enough
activity that that then catalyzes more and more and more
real activity with the points or is it just like a slow dwindling
of the whole points thing? I think that's what everyone's
waiting to see with Blur. There was probably less
innovation than like to keep that people staying there other
than the points, whereas here they're hoping that there's
going to be a bunch of new things built.
This stuff like yield is kind of what they need to have happen.
They need to have. We need to have stuff that
people actually want to come on and use rather than just just
farming and airdrops. So I think it remains to be
seen, but I and I think it's an interesting strategy they've
gone with, which is like like Wiz says, they've really,
they're really trying to encourage only things that are
built on blast and nowhere else. And I don't know if that is the
strongest long term move definitely creates like a unique
experience, but maybe that makes weaker protocols, who knows like
just the way that ETA is with with with modularity that is I
think that's that's kind of it in terms of meme coins.
I did see interestingly today that the RWA, this is something
that we've spoken about a bit more on the show has has now
surpassed crypto gaming in terms of search trends.
It's definitely something that's been picking up ever since
BlackRock announced their new fund.
I know we've spoken about Coins in this space before with Ondo,
Pendle, Mantra, Mantra, which is they've all had a bit of a big
move. But if I was to pick one big
narrative which is picking up pace in crypto over the last
three weeks, I would say it's RW Eight.
It definitely feels like a space which could see some pretty
substantial growth. I'll share this tab.
So Ondo, which has got a bit of a partnership actually with
BlackRock, that's up hundred 100% in the last week.
Polymesh is up to 100%. Mantra.
Well, Mantra I thought had had a huge move.
Yeah, well, Mantra had a huge move before that.
It's done about 3X in the last month and you kind of go down
this list handles up 65%, centrifuge up 62%.
This every single token I see in the RWA space is absolutely
mooning right now, like every single one on this list, every
single one. And that I think is some of
these are quite low market caps, like the biggest one.
The biggest market cap in this space is Ondo, which is a $1.2
million current market cap. It's got about a nine billion
fully diluted. But what do you think about this
this space guide? Like do you think this is just
too boomer as a space to be interesting?
Or do you think this this could really pick up?
Oh man, this will definitely pick up because I think, I think
the fact that it is Boomer is why it'll pick up.
Because I think as crypto and red free is growing people,
people like there's a large chunk that just mistrust A banks
where they don't want to keep any cash in the banks right.
Which means they have no access to grow their funds or get a
diversified exposure to something else.
Like once you have like, say like this, people would like,
you know, like 10 billion of Ethereum, right?
There's probably tons of whales like our Bitcoin or random
fucking D5 shit Solana, whatever.
It may be like, right? Say hundreds of millions or
whatever. Where are you going to put that
money in? Like you can't put it in like
shit like Ave. and com. There's no returns, right?
Because interest rates are high enough, because like D5, that's
the reason D5 has been so bad over the last little while is
because interest rates are so high.
People don't need to tap into D5 to get those.
You know where they can park their cash and get some returns,
right? So now it's like, OK, I want to
get exposure to real estate. Like nobody wants to pull out
their like their crypto and be like, OK, I'm going to go buy
like you know, $50 million worth of real estate to get exposure.
There's a lot of like bureaucracy, ad hoc transfer of
money, like taxes, blah blah, blah.
You know, that's just America, I think more international, like
Asia and stuff like that. How do you get cross-border
exposure to real world assets like American real estate or
European real estate, Asian real estate, whether it's gold, crude
oil, whatever it may be, carbon credits, you know, for example.
That's been a big thing I've been a bull on for RWA.
How do you get exposure? There's no cross.
There's no clean cross-border way to be able to trade all this
unless you have a full KY seed account.
And that's talking about the very big stuff like gold,
silver, commodities, real estate, right.
But some of the other stuff like, uh, that you want to get
exposure, there is no centralized liquid way to do
that. And I feel like that's where a
lot of crypto people who want to add that diversification, who
aren't like, you know degens like us who are like all in on
the meme coin that that's the money that will flow in.
And you see that because like you see all these chains like
look at arbitrary. Arbitrary is one of the biggest
TV LS out there and volume out there, but it's not.
There's like there's no meme coins and stuff out there,
right? So there are even like BSc like
Binance function is running a lot of stuff, right.
The other meme coin that raised 280 million, So there's a lot of
money out there that wants to go into stuff that's a little bit
safer. They want to get diversified
exposure, cross-border exposure and this is kind of the only way
they can do that. So I think the more there's a
lot more RWAI think coming in and I think the money that's
going to inflow into that well, it's going to be people who are
like, hey listen, I just want to get exposure, I want to
diversify My Portfolio and like even like a few percent of that
portfolio overall over if you project forward like you know
three to four X growth of the market, you're you're talking
billions rolling into these RWA projects, right.
So yeah, big Bull on Ondo Pendle obviously, you know we're
obviously, I'm a huge Pendle Bull, extremely undervalued and
then all these other projects too that are coming up.
Yeah, I I agree with you. It's it's Boomer.
But don't underestimate the boomers.
It's it's just a ton a. Ton of money, crypto boomer.
You know, like, I think that's like the cat.
Like the thing. Like it's not like our mom and
dad who are going to. It's like like people who have
made like billions in crypto and like don't want to be in the
trenches. Like aping, you know, meme coins
other than just for fun. They want to park their assets
in something and you can't park it and defy anymore, right,
Right. I think that's why in a high
interest rate environment, RWA is going to be the big and we're
going to be in a high interest rate environment for a long
time, right. Like it's we're not going to see
0% interest rates for at least maybe another catastrophe that
happens maybe five years from now or something like that.
So, right, we're in a high inflation environment, we're in
a high rate environment, which means that our like the, the,
the demand for real world assets in this world is going to be
huge. Yeah.
And we're seeing that we're seeing.
The amount of money trying to chase 5 to 8% yields is
unbelievably higher. The amount of money trying to
chase 10 XS, there's just so much money that is looking for
stable, relatively high yields. And if that sort of money starts
to move into crypto and finds products that they can invest in
not mean coins, they're not trying to make 1000 X, they're
just trying to basically make boring returns with their with
their savings. I think that that would be in
some ways an even more bullish trend.
So just out of all the low caps right now obviously stuff's
happening in meme coins obviously stuff is happening in
in in gaming. But I do think RW as as a as a
sector is 1 to pay attention to. It's actually only a small list
I would say of coins that you would invest in.
So it's it's worth it's worth digging in back when we come
back to NF TS. It's been kind of a a similar
sort of trend over the last over the last 24 hours that we saw
yesterday. It's mainly been about about
ordinals, Bitcoin puppets I think.
Let me just share my screen for the for the degens page.
Here we go. Yeah, Bitcoin puppets hit an all
time high up to nought .3. Pudgy Penguins had a bit of a
bounce. Actually, Azuki had a bit of a
bounce. Azuki has flipped mutinates in
terms of market cap. They're back up to 5 E But
ladies had a bit. It was, it was been an OK day of
the last 24 hours. A lot of talk about Azuki right
now, a lot of talk about them, you know, doing a token, doing
potentially even a chain. There's like a lot, a lot of
rumours about where they're going to take.
Oh really? Oh yeah, anime chain.
Anime chain is what I'm hearing. Yeah, a lot of rumors about
what's going on going. On that's like the new thing,
right? Like if you every gaming
protocol is doing their own L3. Yeah, exactly.
It's like easy pump like, why not?
So but I think they've been pretty vocal about them then
trying to do that like it's it's but who knows who knows?
Well, I have a. Lot of zookies, so that'd be
nice. Yeah exactly.
But yeah puppet puppets I think has been the main 1 breaking
looks like 20 grand now for a puppet.
It's it's I think half the price of a node monkey roughly.
But yeah 20 grand for a puppet, 45 grand for a node monkey that
is that has really been one of the the craziest moves so far
this year. So that's been that's been the
main thing in in in terms of NFTS we did see a dart farms one
of one sell for for 270K looks like which I thought was pretty
cool. He burned it too, right?
What'd you say? He burnt the bone that he they
paid for it. Wow, I didn't realize that I'm.
Pretty sweet, I could be wrong, I thought.
I thought somebody said that, that he burned all the bone that
he raised. What a what a legend.
That's crazy. Yeah, that's pretty cool.
So look, that's pretty pretty nice 270K for a for a dark farms
one of one. There's been an NFT on base
actually, which ripped this is primitives MFT, which I think
was shared by Jesse Polak. So NFTS on base starting to pick
up as is an. Interesting.
How do you buy those? How do you buy the base?
NFTSI was looking at that too. You know what?
I don't know. I actually don't know.
Yeah, 'cause I thought the primitives that look cool, I
wanted to get some, but I had no idea where to buy them.
Is that do they have their own marketplace?
You know what they may Coinbase NFC marketplace maybe?
Maybe, I wonder with Coinbase. NFC I only got a use case.
Who knows? I I genuinely don't know where
the base marketplace is, but maybe it.
Could be a good play then, even if we don't know means that you
know there's nothing but upside then.
Yeah, exactly. That's actually a very good
point if if you want to find friction and you then you want
to explore it and and find where you want to invest.
So maybe maybe this is the stuff that we should be investing in
that that as the top NFT on base seems maybe a little bit.
Lower. Yeah, look cool too, like.
Right nought point nought 8 E Yeah, I don't know.
That's probably a punt. That's probably a.
That's probably a 10. X Play the chat is saying you
can buy them on Open C you. Can buy them on Open C, right?
OK, well. Oh really?
I don't remember. Them saying that they were going
to do that recently, Yeah. Yeah, yeah.
Yeah, they're here. No.
Yes. Yeah.
So it looks like. A chain like a pixel.
Like remember like every chain has one pixel that's going to do
good no matter what. Like I did that when say Network
launched it. Like their sayings, they did
really well. I don't see why this doesn't do
well too. I just have no idea how to buy
it. These are at .4 now. .4 Eat.
Yeah. Yeah, they're not.
They're not sure. What did they mean that?
No .8. No point.
Not not. 30 We suck. Oh, wow.
Yeah, no point. Not, not three.
Hang on. So that's 100 X.
Yeah, yeah. Wow.
We. Should have been waving this in.
Run it back. Yeah, that was an obvious one at
that price. I think even I just said this
now like that's that's at no .4. Maybe.
You have like a best two to
three X at best. Yeah, it's it's like a probably
a good play, not not like an incredible play.
If it goes, if it goes. Well, that was the win
yesterday. We should have fucking waved
that in. I was looking at it too.
Damn it, I knew it would be a win.
And I think that was kind of it, that there was the Howdy, the
Howdy drop did not go. What happened?
With dad. With Dad the 5 million?
I don't. I didn't even look at my my
howdy hats since then. You were on that, right?
I mean, I got involved. OSF got involved in quite a big
way. And then?
And then I don't know, didn't go as well as planned.
I think kind of that should be expected.
But yeah that that's that's what's been going on in the left
curve stuff meme Coins pumping mage is kind of still holding
out where they were yesterday. RW as is the strongest
narrative. A bunch of different air drops
and new launch TG events. I think as as Wiz said today, be
on the lookout for for stuff go happening on base in terms of
NF, TS and and shit coins and yeah, we're starting to see a
bit of a pump in in one of one cells even maybe after after
dark farms. So I think that's it for today.