Yo-yo what up? What up Good morning, good
morning DMV Monday. Oh baby Monday April 21st 2025
Look at that another beautiful day to have a beautiful day.
I got my Co host in the house Tyler Mendo.
Happy Easter. Good morning.
How you guys doing today? Fantastic.
How are you? I'm good man.
I'm a, you know, I'm a, I'm a reform man.
I, I'm, you know, I'm a, I'm a, I'm a.
So the people of Lisbon, you call them lesbians.
I was going to say I'm a OK, I was going to say I'm a lesbian
now, but that may not be the term.
I mean, I am into women anyways, Tyler.
How you doing today? What a start.
Indeed. Hard to follow that up.
I'm doing well. It was a nice long Easter
weekend that the kids are still home.
This is spring break too. Now in this current school
system, they give them five days off.
It is absolutely not It's fun. I've got a new source of opium
for all of you. Watching the stream, you might
see something new over my right shoulder.
My mother wanted to give me a gift for my new office.
She chose a golden bowl. Let's see it.
Oh, I like that. Bring that forward, Tyler.
Let's see that. Let's see that I noticed it
earlier. I was like, yo, that's a bull.
That's a bull. Damn, that's nice.
That's a nice bull. Yeah, I'm a fan.
So it's going to help us, you know, propel, propel forward
here. Yeah, I like that.
It's on your right shoulder. It's good.
You know, we're very bullish on that.
Actually, another sign if you want.
At Paris Blanche week, there was a massive golden bull statue.
I'll, I'll send it to you after it reminds you of that one.
It's a big one. I'll send you it after the show
was nice anyways. All right, listen, y'all, the
other show I made today, today market report.
Let's let's do a little weekend recap.
We weren't on on Friday. Market moved pretty well.
I saw the goth candle Bitcoin. I woke up this morning.
Just for the record, again, ever since I've been Europe, markets
have been up only on euro mornings and they tend to dump
as soon, as, you know, Americans wake up.
So I do want to say that things have reversed here.
The tables have turned quite a little bit.
So I'm here to witness it. I woke up this morning, Bitcoin
was 88 K, Farcon was $950 million, OK, and we'll do
Tyler's top 100. I think we have a lot to talk
about. Definitely some conversations
here about Zora, etcetera this morning.
And then last but not least, we're going to do Yeats, like we
said, we do five days a week now.
So giveaways are five days a week.
So we'll do a yeet giveaway. Let's see what we played today.
We'll we'll pick a game and and and 1 lucky person will win
minimum $500.00 for coming on. And the show is powered by
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Anyways, Mando, we need to talk about this market.
There's a lot going on. Who is the man Macro daddy of
the land Mando? Can you dig it?
GM, everyone. So really it's kind of a
continuation of the same trend that we've seen.
If you thought gold was looking stretched, it's not.
It's powered on again, the dollar's weaker, gold is
stronger. Bitcoin kind of spent the
morning following gold, which was a very good sign because
often it's being derailed by by stocks.
And then, well, at least altcoins took a little bit of a
dump. I think as we've gone, as we've
gone live, just because of the fight currently between Trump
and and power, which is kind of continuing and also just
generally that it doesn't feel like any of the trade deals are,
are closed. So yeah, I, I, it's going to be
another one of those weeks. Let's see if Bitcoin dominance
looks up only again. And I think it will like 64.2
now for. Wow, Yeah, wow.
Pretty well. And.
Wow, Manda, look at this chart. Yeah, don't.
That is just a. Let's see, hold on.
It's been up only since like let's say here.
So this is like how many days? This is a 868 days because
that's a weekly chart guys. 868 days of up only for BTCD.
Wow, I don't. Think it's stopping.
So yeah, as as I've said for the last few a long time now feels
as though that is a it's, it's more related to gold than it is
to stocks and and stocks going lower seems to hammer altcoins
more than anything else. So yeah, we're kind of back in
this market again. I I don't really know what to
make of like we had an OK weekend for some some of the L
ones. Solana back up to 138 was a good
sign. And so we had a bit of a run.
You know, they've been OK, but Bitcoin just continues to kind
of outperform, I would say. Everything.
And then it was like, yeah, occasional meme coins.
I would say the big exceptions to that hype, Hyper Liquid seems
to to to be outperforming Bitcoin here as an L1.
We've seen Tau interestingly come back quite a lot Tao as a
narrative that had a a very strong weekend.
I think there was a Barry Silbert went and spoke with Rao
Rao Powell about it and and people got a bit more bullish on
that one. You've had fartcoin kind of
return back to fartcoin is a super volatile like my my
general sense of fartcoin is you buy it on bad days, not good
days because the Wicks sometimes because there's a lot of
leverage still in still in that one.
Like when it goes down, it goes really down and everyone says
it's going to go to like 200. And then when everyone says it's
about to break 1 billion, that's the moment we are we meant to
sell it. Yeah.
So I don't know, maybe maybe it's just the moment that it
that it bounces through again, but I think you can kind of just
trade sentiment on FARC coin pretty well here and make a buck
off the volatility. It's kind of wild.
I don't I mean as the market really shifted that might was a
whole day really on Friday. It kind of feels like the same
stuff today. It just feels like stocks don't
don't feel that good. Gold feels good, dollar feels
bad and bitcoins still unsure if it's gold or or or tech stocks.
It feels disturbingly quiet out there.
I don't know if you saw the post by Ace Base 16Z over the weekend
but like. No.
Which one? Coins that are that are leading
on the on the volume charts here like it's quiet.
It is definitely quiet in certain spots of the market.
I'm looking for this. It tweets a lot man.
I know right what a machine keep going keep.
Going. No, keep going, Keep going.
This this is a bit eerie I would admit.
Like look at the top coins being traded here.
Vauxhall was not OK. Not yeah, yeah, yeah.
So Vauxhall was an exploit where bit get got exploit for $100
million, Yeah. But then some of these other
coins like GMTGMT is Stefan. To be clear, GMT is Stefan Coin.
Yes, the people token is still doing $374,000,000 and that
might be the exploits as well though.
You think it was this was all the exploit?
So the X, yeah, because so I'll pull up the thread right now so
we can talk about it, but there was $100 million exploit bit yet
they also use Jelly Jelly. So hold on, let me see.
Man, this things are taken at half the market.
Yeah, hold on. Let me find it for you.
I have a feeling. I mean, you're the the thing.
You're right about the sentiment, by the way.
I'm just saying I was a voxel heist that trained bit get I
see. Well, the trading bot kept the
market maker kept pumping at like 10%.
Yeah, we were. Just like trading this.
Range like that, Yeah wow, don't hate the player.
I saw something about Jelly Jelly, but maybe it was just
voxel. So yeah, you're right, Mendo.
It is eerie. Oh yeah.
But you can feel it. You can just feel the only
people tweeting are like, it's just the same crew again.
I did that tweet on Friday. Where?
It was. I know I liked it.
Just us, man, Us again. We're waiting for the next old
coin season, guys. It feels like a 2023 like bear.
Bear market lows to a degree, maybe because, I mean, everyone
just kept talking about how tired they were in the end of
2024. Q.
One we didn't have. Fun.
Maybe people are just finally taking those, those breaks that
they need. And granted, there's not a whole
lot of news, there's not a whole lot to to trade on a day-to-day
basis right now. Even though we're still like, I
don't know, this is still 10X more active than it was in 2023.
Because I remember I was writing featured newsletters.
There was days where I couldn't find a single story.
Dude, there was nothing. We hosted the show.
We had nothing to fucking talk about.
Yeah, and we're still doing like one big tge per week like that.
There's still quite a bit more than that.
But yeah, I mean, I can't argue with man though it it feels like
on CT it feels like a ghost time.
Well, if anything, I'm super bullish on that class of 2021.
A lot of people made fun of because like we're some of the
only people that are active right now.
We were talking with the boys chat this weekend saying like, I
think the people who were complaining about the cycle not
being fun or kind of coping or did partake because like I'm
recalling some of my losses and some dumb shit.
I did this cycle and and then had some fun.
Man, even the mistakes I made were hilarious, like not selling
pups at a billion dollars. But but you know, it's I think
it it. We had a lot of fun.
But I want to ask you say something on the market because
I know we have a lot of topics to cover and we started a little
late. So I don't want to also go too.
I don't want to go over time too much.
But Nachi's back, Mando Nachi's back.
The big trader on CT. He took a long break and he says
Jam D Jens, I'm back after taking a long break to spend
time with the family while markets was in super hard mode.
Market bottomed after Trump announced 90 day pause on
tariffs. Thought Trump was already taking
the hardest stance so long. It's a Bitcoin under 80 and
still at 1:10, which by the way, ended up going to $97.00.
So he's talking about how his base case is summer is for money
printing, not for touching grass.
I believe April to August is the most bullish period of 2025 as
market turns from Max Barry sentiment events to Trump
scaling back some tariffs, allowing the Fed to cut rates
and ease liquidity with other CBS.
Yesterday night I wrote something wrong These lines
Mendo where I was like, I felt like we kind of bottomed, but
now we're in this weird range for like negative news.
We're like eating it a bit and positive headlines would
actually probably send us much higher.
How do you feel about that sentiment that like summer 25
could be more of a kind of like a summer 21 moment for the
markets? Maybe I'm unsure about it.
As I've said before, I'm unsure about all coins here.
I think Bitcoin dominance can keep on going higher.
I, I agree with his post about positioning.
That's the, the most bullish thing about general macro right
now is how bearish positioning is.
So maybe it's just like one tweet and we've seen with Trump
that can happen very quickly. But I, I don't, I just, I just
see a different narrative. Like I just don't see the people
coming back so quickly to survive some of these
narratives. Again, I don't.
I just feel some of those feel a bit like fool me once for
people, I think Bitcoin can go a little higher, but I actually
just think it can go a lot higher by itself.
But that's just my gut. While we're back at 88 K right
now, actually, we're pumping right now, boys.
Risk adjusted, I think it will be it will be most things.
OK, What do you think, Tyler? I, I think this is kind of the
similar sentiment you've been voicing.
Yeah. I want this to happen.
We'll we'll listen to existence. I think there's two scenarios.
I think the the bull case for what he laid out is that we are
in Max uncertainty right now and the economy is actually in
decent shape and any positive news on tariffs, global macro
trade war, perhaps Russia, Ukraine are things that ease
this. Up.
To rebound, I think the counter is if small businesses start
closing across the US because cost of goods is too expensive
now and everyone moves to cash, they're afraid that boomers are
selling their four O 1 KS to cash, that type of thing.
So I I'm still leaning the IT feels like 66% bowl case, 33%
bear case. Maybe we'll see, but I'm hoping
he is he is correct here. Yeah, I, I, I see it.
I mean, we've been talking about this forever, by the way, the
market's really pumping pretty well right now.
I don't know what see that 30 minutes fake out Tyler 25 on the
dock, pretty much. It's always the same fucking
thing, man. The other thing I want to talk
to you guys about is this constant war that seems to be
happening at the moment between Powell and well, it's mostly
Donald Trump. I don't think Powell, Powell
since don't give a fuck. So Mando like, you know, Trump
saying calling him Mr. too late. Trump on truth social accuses
Powell of being too late and cutting rates except to help
Biden and Harris in the election.
I think he hit something a loser.
I don't know if that was fake or not, but he's constantly calling
for a replacement. How does that make you feel in
general? Isn't Powell quite a bias?
I I don't have the as much understanding on his background
as you may have. Yeah, So I don't agree with
Trump here. Yeah, in many ways, like there
is a division on purpose between the central bank and the the
government. They are meant to not be
political. Like The thing is, what Trump
has done is potentially going to massively increase inflation,
so. Right.
How can't do what he needs to do.
It's like he's caught. Trump is basically thrown in all
these tariffs and then say, hey, power, you got to cut rates.
Like he can't do that. If you're going to increase the
prices of everything, that's like one of the main tools to
not do that. So I don't think this is going
to be a solution basically. I also think it's just like
slight overreach in terms of power.
You don't normally see this from a president.
He did it kind of last one last time as well.
But generally you don't see it, at least not from like developed
nations. But I think part of this is also
like a deep, maybe it goes longer than that.
I think there's also like just the hatred of the Federal
Reserve at the moment in the US. Like I think there's a lot of
questions about it from a long term perspective.
Is there a reason why? Is there a reason for that?
Like what's the background of that?
Because he actually, it's, it's real.
He actually called him a major loser just now.
Like he said Mr. Tule a major loser.
Like he literally called Powell a major loser.
He's right there in his true social post.
What's the background of this hatred?
We want him to cut rates and, and, but, but Powell can't do
that with with inflation. I mean, I think if inflation
expectations in the bond market are really high right now, now
that maybe, maybe that won't come to fruition.
But it's, it's, it's very difficult for Powell to act on
that in this world. So I think Trump's got it wrong
with who to blame on this. He's just trying to find someone
to blame. I.
Think well for background. Trump appointed him in 2018.
Right. Yeah.
Oh, he did see that. People like they already like
moving past that, which is makes this situation even more.
But he's really adamant about about him not being good wanted
to replace him. I mean call him a fucking I'm
sorry for not fucking become a major loser right now.
Like this is not just I. Mean, I think most people would
say objectively Powell has been pretty good.
That's that was my read on Powell.
I'm only in the I only. Yeah, I would act what?
Tyler said. So like one of the only Fed
chairs to actually engineer a soft landing ever?
Ever now there's could be fudge data or whatever, but like
people would say, you know that that was done pretty well in the
end, people said he moved too late that that may be true, but
he. Hasn't he didn't have late,
yeah. Caused a recession.
So I don't think the the market's perception of power is
actually that bad. And I don't think it is.
I think they, the market recognizes that Trump's got
himself into this. You can see it.
So yeah, I. Don't, I don't think that's, I
don't think it's that. OK, that's I was just curious
for the people who made the unknown because we hear a lot of
chat about Trump Powell. But my understanding hosting
this show for three years plus with you and Ovi and then Tyler
was that Powell was actually good at his job, except that he
was late a little bit on the rate cutting, but you could say
yes or no. So what the fuck do I know?
But I'm just saying like my understanding was that he was he
was OK at his job. Powell Powell could be terrible
at his job and, and, and you still couldn't do anything right
now. Right.
Yeah. You can't, it's like every Fed
chair would be like, OK, well, I can't cut rates if you're going
to increase the prices and everything by, by this much.
So I it's not a case of power being good about his job.
It's a direct result of Trump's policies that that he can't cut
rates. Totally.
Whereas I think in the past maybe it wasn't, it was less to
do with that. This time I'm gonna do much.
Perfect, love to see that. Anyways, market's going up.
So looks like the the market already shook up the I mean, we
just got to break that 80 to 82, right?
Like it looks like we just got that perfect set up and and
we'll get there anyways quickly before we get to Tyler's top
100. Today's raffle bought code is
Trump. There you go, TRUMP, Trump is
the code today. So Raffle bought that XYZ five
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I checked the the spreadsheet and that was week 1 of this
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FOMO, our affiliate. So you have to use our affiliate
and then go to raffle bought dot XYZ everything self-explanatory
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minimum $500.00. So that's awesome.
Anyways, Tyler, I think we got a lot to talk about today.
So let's get to that NFT and crypto analysis.
Folks, crypto majors are bright green this morning led by
Bitcoin up 4 1/2 percent, 88,420 right now, a number we haven't
seen in quite some time. ETH up 4 percent 1640.
Solana at 1:40 here as well. STX, MANA and Ena LED all they
are up 7 to 14%. The Seoul ETH ratio hit a new
all time high again last night at point O87.
Seoul continues to gain against ETH.
This morning we saw gold hit a new all time high over 30 / 3420
dollars per oz. That's now 22.8 trillion in
market cap over 8X the entire crypto market.
That is as the US dollar continues to go lower in other
crypto headlines vibe, its CEO share that 2/3 of the funds from
their $1.4 billion Lazarus hack are still traceable with 28% now
gone. Dark Circle shared plans to
launch its own USDC powered remittance network to rival Visa
and MasterCard as their latest product.
So that was a big one Metaplanet at 330 Bitcoin over the week and
they're now over $400 million. This just in this morning, we
got the news out of Michael Saylor and MicroStrategy.
They bought another $555 million of Bitcoin in the past week.
So they continue to add in huge size.
We saw Vitalik publish A blog he's proposing replacing
Ethereum's EVM with RISCV to boost efficiency and scale 0
knowledge proves and basically simplify the overall code base.
That's a big potential change on the horizon.
And then crypto casinos, big headline here.
Big number brought in over $80 billion in gross gaming revenue
in 2024. So the casinos are heating up.
In token AirDrop and protocol news, Zora, this was the big
headline of the day yesterday they announced their TGE and
AirDrop that is coming on Wednesday, April 23rd.
The activity snapshots now are complete as of April 20th.
Magic Magic Eden launched Season 2 of its rewards program.
Key actions include sticking in tokens, trading in at Tees,
coins, rooms and ordinals. Open C also tease changes to
their rewards program coming soon.
We don't have the details yet. Mega ETH debuted their Crossy
Fluffle game is what they're calling the first real time on
chain game. The direct drinks Big news share
their latest flavor Abstract Apple with abstract points plus
direct drink points for every case purchased in AI memes and
NF TS a bit quiet AI market cap about 5 percent $6.5 billion.
Meme coin leaders were pretty green on the day, most up in
that 5 to 10% range. Luche was a big meme coin winner
overnight after Pope Francis sadly passed away that route.
75% to $16,000,000. Open C announced Solana Token
trading now live on their platform for everyone forgoing
their wait list. And then NFT is a 0 attribute.
Cryptopunk sold for 317 ETH, that's $500,000.
Where the seller get this? The seller made 47 ETH after an
11 month hold and lost $290,000 because of the decrease in the
ETH price. So up and ETH down quite a bit
in USD and that was our roundup. There you go.
Love it. Just just a little word.
You forget the topics. Looks like space has died again,
but it is what it is. I'm not going to I'm not going
to start it again. We're live on on YouTube and
we're live on on on on live. Sorry, on broadcast live.
So got to watch the show on video.
Actually, it's fucking better for you.
Actually, I can't wait for us to kind of dump the whole spaces
take. So I'm going to, I'm actually
going to post a YouTube link for people to follow us there if you
want to check us out and, and retweeted.
So it's, it's going to, it's going to be easier anyways,
Tyler, there's a quite a few things you got going on here.
Which one do you want to start? With maybe we can just quickly
hit the Circle story because it's a big one and then we can
get into more like the token and protocol stuff.
But the news out of Circle here. They are launching this USDC
powered payments network. It will be payments and
remittance platform. They're going to do a launch
event at their New York City headquarters at the One World
Trade Center tomorrow. This product, it's going to
target banks, fintechs and remittance providers.
It's going to leverage USDC for real time global transfers and
then effectively lay the groundwork for them to compete
with traditional networks like MasterCard and Visa.
They are billing it as their next product move as they return
to their original mission of building Internet native
financial infrastructure. So that's the story.
We'll get more details on this tomorrow.
Circle CEO Jeremy Alaire is set to speak at the event.
And perhaps another major new product launch for them ahead of
a potential IPO, which we don't know exactly when that is
coming, but it's still expected soon.
So big news out of Circle. This continues.
And this comes while stable coins continue just to to
increase quite a bit. We talked about a lot on this
show Circle, up to 60 billion in market cap.
They're up 25 billion since the US election November.
So up almost 100% there and looking to continue to grow.
So not a whole lot else to unpack, but I wanted to share
that story. We'll probably have more
tomorrow if you want to go down the risk curve a bit.
Zora was probably the biggest headline of the day yesterday,
So I'm not sure if you saw this. We got the the date for the TGE.
The token is coming on Wednesday, April 23rd.
The tokenomics I believe had been shared previously, but they
of course resurfaced as everyone you know when to dive in and get
the details at a high level, 10 billion tokens, it's going to be
30% circulating at TGE, that's 30, that's three billion.
The AirDrop is going to be 1 billion tokens.
I think some of the pushback has been the team is getting about
65% of the overall tokens, 19% for the team, 20% for the
treasury, 26% for contributors. So people are are lumping those
in to an overall team bucket. I think the kicker in what's
caused a bit of the controversy this morning is they they're
saying the token is for fun only.
So it's not going to have any governance rights.
It's not going to have any any utility.
It will be a a fun token. And I think we we saw based
carbon speaking out. We saw Zack XPT speaking out
about that as well. Of course, Zora has been was the
kind of talk of CT over the last five days, ever since Jesse and
the content coin craze just coin it that debate.
Of course, that took place just a couple of days before the TGE.
So now folks are saying, oh, was this kind of an attention event.
But regardless, everyone's talking about Zora right now.
Now starting to think about the FTV.
So like, where's this thing going to open up?
It's going to get listed by Coinbase, right?
For sure. I mean, I think it was just
announced also on Binance Alpha on top of that.
Yeah. So Binance is going to have it.
Yeah, it would go decently high that first day, I'd probably
guess. So.
It's going to be 30% circulating.
I could see it go over 100 million mark caps of 300 and 400
million FTV, maybe higher than that.
A billion seems high. Curious for those thoughts, but
I mean, or we can talk about this for fun only.
So a lot of people are pushing back on this.
I saw this that kicks BT post here.
Right he goes what does the token need to exist if it all
serves up as your purpose? This type of vapor for a project
that raised $60 million in total A600M valuation is just
embarrassed they raised $60 million already?
Damn, I didn't know that. I mean, they're building a
product and they have delivered it.
So like I'm trying to, it would be easy just to attack.
I'm trying to come at this fairly level headed and
objectively. So this model doesn't seem that
dissimilar from what Pudgy Penguins and Pingu did, right?
Like the Pingu token is a culture coin that launched after
that team. I mean, they'd raised money to
do a few other things. And I think the market was
generally positive on how they launched that.
And now, because I think sentiment is perhaps a bit more
negative against Zora, everyone's kind of flipping the
script and attacking them because of it.
I mean, certainly I think we've seen a push to have more
specific utility for coins. Why do you need to have this?
How's it play into your ecosystem?
How can we value it? I think certainly we've seen a
push for that, but I don't think we're quite there yet.
And I'm not totally surprised to just to see them launch it this
way. I guess it is, is what I'm
saying. But push back to is that he
doesn't like how this very recent pivot kind of changed the
platform from a more artist focused a little bit more about
art to a bit more of let's just call it a meme coin platform.
Effectively, yeah, we saw a lot of justification for that
supposed to be creator first, but it seems like and I'm not
creating any tokens on Zora. But as I understand it, creators
don't have as much control, like creators don't have the choice
not to launch the token now with with their with the content they
choose to mint on Zora or create.
So in some ways careers have a little bit left control.
And he wants to tell Jesse and team they want to tokenize
everything. We certainly understand the
responsibility that comes with that.
And like when you are a big personality, you launch
something, there are a lot of expectations that come along
with that. I think Zach XPT has seen that
personally with he, he ended up launching a piece that had a
token on Zora and several other artists have come out to speak
up about that. Token goes down, people give
death threats like it can get, it can get ugly pretty fast.
So that there's a lot, there's a lot to unpack.
Yeah. The thing?
Yeah. I mean, I, I, I don't know.
I don't know, dude. I mean, if it's, I guess people
are like the 60% team allocation in a way is not like if it's a
utility coin, it's kind of you're better off holding more
of the team than giving it all to people because they're going
to send it to zero and they don't have the best interest at
the heart. Then the team loses a lot of
leverage against exchanges and market makers, etcetera, and
potential partners and growth. So I think the problem is not
the 60% to team. I think what they're saying is
the problem is 60% to team saying that it's a fun token
because if a meme coin, then it should be 100% fair launch.
So Zach does have a point in that sense, like 100% fair
launch, fun token, fuck it, treat it as a meme because it
has no utility. So in that sense, yeah, I get
it. There was also some stuff around
how they already announced the token last year, already
launched something. Then there's all confusion about
how every single post becomes a coin.
I mean, I had some time to think about everything in that clip
that did the rounds of Jesse and Bankless guy was ridiculous by
the way. I mean it's so funny how Hoffman
is just so biased. Like he'll like shit on Alon and
like the fucking intro and then he'll you know, like give Jesse
Polak like a rib job on this show essentially.
I had time to think about all this stuff.
Zora is just a pump fun competitor on base and they're
trying to do mental gymnastics around calling content coins,
but they're meme coins and I don't care.
By the way, I'm not one of those saying oh their content could be
like whatever like but if that's all it is like Jesse Polak only
goal and job is to take attention away from Solana.
And ironically enough, Solana caught a bid this weekend
instead of Ethereum. So the whole thing is kind of,
it was incredible marketing leading to the store of market.
So you got to give the credit what credit is due.
It was incredible marketing. So I got to give them kudos for
that. I guess maybe I have, I just
don't care anymore. Tyler, I, I guess I agree, this
industry needs to get a little serious and the tokens that
we've launched need to start actually having like, look, we
haven't figured out ref share legally yet or equity, but maybe
we will under Trump's America and new administration.
And like Mendo said, altcoins are looking like fucking shit
here because Bitcoin dominance is only going to go up.
And that's not changing. By the way, I agree with Mendo.
Bitcoin dominance is going to 70%.
Ethereum is getting smoked, brother.
There's like 5 coins catching a bit with Bitcoin and that's like
Solana. But Even so, it keeps going to
142 and going back down. BIC was higher sui and hype and
then far coin is the meme coin that catches a bit a lot, but
that's it's an anomaly right? I did they look yeah, Avalanche
like sorry guys, I don't look at everything.
So I'm sure Eli's saying evacs catch a bit good like because
they actually have utility. I think even if the team gets
65% and the token doesn't do well, it's they're going to lose
anyway. So, you know, I can't blame
people for calling it out though.
Like if you call this a fun token and a meme coin, then you
can't hold 70%. You know, like we're, we're
going to, we're working for Marriott on the total utility
thing. It's going to take time and I'm
going to do it right. And we're going to hold some
back because I need the leverage.
But it's not going to be a meme coin.
I'm not going to call it fucking meme coin, right?
Like Wrecked was a meme coin and they did a sell out and then
they put all the AirDrop to community launch on day one.
100% pengu. So I don't know what's your do
you have a strong opinion on this?
I I. Don't have a super strong
opinion. Like I don't want to come across
as like as a tech and a team is trying to build right.
But they do flip flop a lot. I think this was a very
interesting pivot. So like if you look at the data
that their their users spiked. So daily traders, it worked
baseless. They had 300,000 traders on
yesterday in April. So that's up from 35,000.
The daily tokens created are up 3 to 5X as well.
So did this campaign worked? The follow up question is at
what cost? Because Zora was very like
creator heavy, a little bit more art centric, more in the artist
circles and I'm not as deep in those circles.
That's kind of why I haven't played as much over on Zora.
But a couple things to jump out to me is 1 like this comparison
to Instagram posts and TikTok content.
I don't think there's a whole lot of demand to pay for
Instagram posts to to pay to collect them, to pay to collect
the TikTok video. Maybe that's just me, but but
that's not what's going through my head when I'm scrolling my
Instagram feed as man, I wish I could buy this.
And there's this narrative of trying to build that this is a
better way to pay creators. Well, I mean, creators and these
other sites are effectively paid by the views and engagement
they're able to create. And if it's not by the platform,
it's by their brands that will eventually get in contact with
them to to run campaigns. So there are ways to monetize
that on Zora. Is it for a creator to make
money, someone has to lose, right?
So like this is this is the mean coin game.
And I feel like they're trying to to paint it in this brighter
picture that it's not. But it's not.
So if for like when when trump coin goes up, I'm trying to I'm
trying to come up with an example here.
No, the example is that you're giving is when when there's a
runner, right? And there's another runner that
comes out. The runner A dumps for runner B.
Right, exactly. And there's talks about the
creators, they're going to launch a coin, they're going to
take some of those profits and they're going to buy other,
other artist posts on Zora. And that's great in theory, but
what that actually is, is the artist, the creator is, is
dumping their percent of their own tokens onto the market so
that they can do that. So like there is perhaps because
we're still in this PvP model, but it's not just like a win
win. So, so it is win, lose.
And as the the collectors are losing, it's going to shrink the
overall pie unless you're able to get a whole lot more
creators, collectors in the mix. So that's kind of my, my, my
roundabout thoughts. It's more tied to just the
messaging than than the platform itself.
And at the end of the day, it's not just not really quite for me
this. Model I, I don't blame them for
pivoting a lot. So I know I went to the city,
flip flop a lot. It's not flip flop, but they
pivot a lot and at least they're still around.
Like we've seen teams flip flop, pivot and leave.
So you know me, my mantra is like, yo, you stick around,
you're still building and respect it.
I can't blame A-Team for leaving the whole NFT.
Let people say, oh, they were an FT platform, they abandoned
creators, I get it. But like Maker's place, known
origin, close shop, foundation became Rodeo and now it's not
even an Ethan anymore, it's in USDC.
By the way, shout out to Kayvon. He's doing his best.
So like you can't really blame teams guys for pivoting.
We went from media to building prediction market.
It's a tough market y'all. So being a founder in this
industry is really hard, but it's true that it seems like the
ethos there's no maybe they don't have it like it's the
North star is tough, right, because now they're full blown.
I think they're it's a pump funk competitor at this stage.
So and the mental gymnastics around again, back to that clip
with Jesse is tough to make it seem like it's not like, Oh, how
much is Instagram post is worth nothing.
It should be worth nothing, by the way, just a game.
It's starting to sound like the gaming web three thing.
You know, gamers hate Web 3 because they're like, why does
this need a coin? And it's the monetization of
financialization of gaming, which they don't care about
because they love the game. Gamers play for the love of the
game. And the second you add a token,
it just becomes a farming thing that is stupid and has a stupid
valuation. You could argue that this is
like almost the same thing here. Why does it need a token?
Like why does my the picture of my food need to be tokenized?
Maybe, but what does it need? A coin it doesn't you know so I
don't know look the market will speak.
It will and the market will decide.
You vote with your wallet y'all. You don't have to buy this over
coin. You don't have to trade it.
You can also just watch. You know I like what PO said
this weekend. He wrote a post something around
how he hated the meme coin run because he just can't relate to
it. It's on his thing and he said
instead of sharing my opinion I said nothing and let it play out
and bought Bitcoin that respect that it's mental health one O 1.
You know. Indeed.
And I mean, I think it'll probably, I mean there's
probably some fireworks on day one for that, for that token.
Kaido 2.0 I. Think there's a lot of questions
of how they will drive value to it long term.
So I think you have to be, you have to think about that if
you're going to invest in the token post DGE.
I can understand what your plan, what you're looking for out of
the token. That's just for fun.
Yeah. So anyways, let's that's that.
Was there any? I mean, there's a lot.
So we we still have a few minutes.
What? What else do you want to go
over? And those are the big ones.
I think the other NFT marketplaces are continuing to
push forward to Magic Eden. They shared details for their
Season 2 rewards. Again, the key actions here are
staking your Magic Eden tokens and then like you're trading so
NFTS, coins, runes, ordinals. They've also got incentives for
swapping tokens directly on Magic Eden and linking wallets,
you know, across chains. So they're leaning into this
cross chain model. Certainly open Sea is doing that
as well. We had this the open sea Solana
news a few days before, but the news over the weekend was just
that they are opening up. So it's no longer wait list
anyone on open sea. You can connect your phantom
wallet. And got.
It so they're leaning into that. They've got the new CMO now.
Adam. Yeah, maybe we can get him on
the show. I think it would be.
Good. Sponsor our show, Adam.
I know you listen to the show. I know you clip our shit.
Tyler's talking about it. I had a call with your team a
few weeks ago. I've.
They also hired another one of my homies.
Valan. You guys should sponsor this
show. Openc.
Yeah. I think Openc should sponsor our
show. Chet.
What do you think? Actually, that's a positive
thing for y'all's TG, Just like Wallet connected and look at
what wallet could, how Wallet Connect opened.
It's totally us. It was all us.
Wallet Connect opened at $400 million thanks to us.
We'll take all the. Credit Tyler, I think.
I think Opensy should sponsor the show.
I'm all for it and what I like about and we're this is not
sponsored content we. Have.
No, it's not. It's easier for me to talk
positively about Openc right now than it has been in a while
because I I really like what they're doing.
Like I think they're, they're doing new features, they're
improving their products. I think they there's a little
bit less focus on TGEI think that's right.
I think that they need to rebuild their core user base up
until even like a month ago, like all anyone wants to do is
get this token, dump it and then move on with their lives.
Like that was my view of, of the the broader market sentiment,
but now people are actually starting to starting to use it
and I think they like it. And I'm seeing more organic
positive commentary on the platform and the changes they're
making. So I think they need to continue
to build on that. And I think they are.
And I think it's going to take time to win everyone back.
But hey, Nachi, he's calling for the 2021 Echo where we run all
summer, summer 2021, man, for those who were around those
times, that was the boom of open sea in AT boom.
If if we get any kind of an Echo rally like that in 2025, Echo or
open sea will be top of mind and they'll be one of the winners.
So they've got an interesting potential near term future here.
So I'm very interested to see what open sea does with that.
Yeah, I'm. I'm rooting for all of them.
You guys are going to hate me. I'm so boring but it's like keep
building magically and open T. We need all these people to lead
with intention. Do cool shit.
You know? I would love to see resurgence
of NFTSNFTS are 10 times better than meme corns in my opinion
for the space. So I love them both, I buy them
both, I trade them both. Definitely more meme corns than
NFTS recently, you know. Has there been any big NF TS?
I was defaulting defaulting to opening blur everyday just to
get my like overview of the Mt market and now I'm.
What's up with Blur? Feels like they gave up on their
NMT platform. It's like fine, they gave up on
iterating on it. Yeah, it looks like that.
What's up with their chain blast blast?
As I understand Pac-Man team, like there's heads down focused
on mobile, they've got the the strong yield on USDB on blast,
but there's just not a whole lot to do in the eco.
I think the two breakout apps, Fancy Top and then this Cambria
game that a lot of people seem to really like.
Oh yeah, these just to play that.
We're kind of succeeding despite Blast at this point rather than
a bit. So we'll see.
I'm sure the team is still working behind the scenes.
I think this the building in silence is the silence is still
a little bit deafening. Yeah, you also by the Cambria
can move to abstract, right or start building an abstract and
then what is it you have? The mega E thing was impressive.
I have to say. The TPS thing, saw your video.
Yeah, I played the game and it's a Frogger game.
But what jumped out to me is like I, I, I'm not a gamer.
I don't play a lot of web three games.
I will dabble and play to earn games sometimes, but I think we
all know those games aren't fun. You're clicking buttons to try
to profit. But like, I had buddies in the
chat who were spent 20 minutes on Saturday trying to beat their
high scores. And then I realized that like,
OK, I should probably go spend time with the family or just
playing Frogger on Mega Youth all day today.
But I genuinely did have fun playing it and trying to rack up
a high score, which is not something I've done a whole lot
of in Web 3 gaming. And Dookie Dash was fun similar,
right? You could have played that just
to try to get a high score. So I think that's probably the
best analogy that I can come up with in, in web three that I've
played. But maybe they look stronger and
they're showcasing their what their chain can do with products
and that they're they're being a product in the app first, which
I think that approach makes a lot of sense.
Yeah, all right. Well, that's that.
Listen, it would be nice also if MODAT finally launches by the
way saying that. I think their their founder was
tweet one of their founders was tweeting about how proof of
stake is is not it. I forgot his exact words.
Yeah, maybe they're they're. We have a how they're.
Going to do. Everything.
I don't know, man, Tyler, if the market does turn and we got a
good summer, got a few launches, tokens come in, I don't know,
man. I wouldn't discount 2025 y'all.
I know it was a rough Q1 for everybody, but I abstract OK
Mona mega ETH C Will be nice to see Mira at some point.
Got a bunch of good stuff, you know, I'm excited.