Good morning. Good morning everyone, GMGM and
welcome to another episode of FOMO Hour.
Hey, it's Thursday a 22nd 2025 and depending on where you're at
in the world, it is still Bitcoin all time high day.
What a day. Bitcoin smashed through all time
high 111,700. I think I saw a peak.
It's 111,000 right now. A lot of other coins are moving
too and the question how high are we going?
We're going to break it all down on today's show.
No, for Oak, he's travelling, he's got some meetings today,
but we've got Mando and Logan in the house.
And GM, how you doing? What AGM, What AGM, It was
volatile yesterday, but it was, it was good.
It's good. I expecting a same sort of day
today. I think we, we're in, we're in
some clean air at the moment. You, you never know where this
is going to end when Bitcoin starts breaking all time highs.
But it's been, it's been a fantastic 24 hours.
Been fun to watch and, and how volatile was yesterday.
We we, we got the technical all time high hit an immediate sell
off like 3 1/2% just to to wipe some folks out.
It'll happen again today. Just to let you know it'll
happen exactly the same every day if you it is your first pick
on all time high, which I I don't know if it will be, but
know that every day is super volatile.
No, you'll get a good entry. Well.
It certainly played out like that yesterday.
Logan, Jim, how are you feeling today as you celebrate Bitcoin
all time High? Yeah, good morning.
I'm feeling well. The weather is still miserable
here, but the market cheering cheer me up a little bit.
I got a text from my dad this morning asking me about what the
easy and hard roads were, so I'm hoping we're getting ready.
That's probably a bad sign, actually.
Let's let's address that question for your dad.
But I I hope we're getting ready for easy Rd.
Yeah, well, your, your dad's clearly on top of that.
And As for the weather, who cares what the weather is right
now? Like it's easier when the
weather's bad. It's easier just to stay in lock
in on the screens a little bit because there's been a lot of
action. Wasn't sure if it was going to
be a just a Bitcoin rally with alts lagging, but it looks like
some alts are starting to move. So we're going to talk about
that on today's show. We're going to go through the
market report. We're going to go through the
SUI exploit cracking, breaking news.
They're launching tokenized stocks, Solana Mobile in a new
Solana ecosystem token tied to that lost coin and believe that
they've got some new competition, a new rivalry in
the ICM markets. We've got FIFA dropping on AVAX
plus more. Before we dive in, shout out to
our partner Wallet Connect. Wallet Connect is the
connectivity network shaping the future of Monchain UX.
If you've connected to a Web 3 app, you've seen Wallet Connect
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We love our partners as always. I know.
Be ready. Let's get into it.
Who is the man Macro daddy of the land?
Can you dig it? Yeah, everyone.
So yeah, we did. We kind of already touched upon
it a little bit, but we've seen Bitcoin smashed through the all
time high. It just flirted with it, touched
it and then dumped a little bit. I think I bought I bought ETH
bag, I think at 20. Was it 2460 yesterday on one
stage I think it was there was definitely it was 24 handle.
I there was a few of these which just wicked horrifically and
yeah, it was that, right? Yeah, 5460.
I definitely bought some about that, but it was it was AI think
we're just going to keep on seeing this.
It's starting to hit, you know, mainstream starting to pick up
on it. CNBCS run articles, you know,
Bitcoin all time high yesterday was not a great day for for
macro. So what you've been seeing in
macro is bond yields have continued to go higher, but by
bond yields, by the way, I just been like people's perception of
what interest rates are going to be in the future and those
continue to go higher. And because of the high amount
of debt globally, you know, US 10 year, we've already spoken
about if this goes up above 5%, it's going to be it's going to
be a bit of a worry. And the stock market is starting
to react a little bit. So it was down yesterday on the
back of that, which is, which wasn't a great sign.
And this is not just in the US either, like Japan is, is where
people are most worried about and their bond yields just keep
on hitting new highs. So strange 1 and increases the
the worry about tail events. Ray Dalio's out there at the
moment being like, you need to pay attention to this, like this
is all going to end horrifically.
And I don't think he's necessarily wrong, but I don't
know if I think crypto could do well, let's say as one of the
assets that performs well in even in that environment, gold
will be the other one. But I do think that's why
Bitcoin is so strong at the moment and probably why
dominance has remained so strong as well, because this is not
like a RIP roaring rally that's taken us to all time highs.
It's been 1 where there's been fears just around the the chance
of some sort of crazy thing happening in the bond market and
and that nuking everything that's that's kind of taken
Bitcoin, at least high Bitcoin dominance has has come down a
touch today because ETH rallied and and most of the L1's also
rallies had a little bit of an altcoin season.
It's amazing how much alts move with just a small dip in Bitcoin
dominance. Do you know what I mean Like
Bitcoin dominance has gone from it's down half a percent today.
How nuts is that? And and you've seen big moves
across the board in all coins. The biggest ones have probably
been hyper liquid continues to grab the attention.
It's one of the few coins here which is doubt to breakthrough
all time high and that was what it achieved back in December.
So it's a 31. I think the all time high was
around 3435. But a lot of positive momentum
right now. I think the fact that James Wynn
has got this like unbelievably massive trade on Hyper Liquid is
very good advertisement for the for the whole thing as well.
And it's been yeah, it's been a good, good, good trade, I think
for everyone who's who's kind of been in it.
The other big one big move is you start to see some of the,
the, the major meme coins move. I would say so far coin finally
broke 1.5 definitely been one of the better performers over the
last 24 hours. Mog has had a decent move.
You've had Pepe have a decent move.
You've had I would say yeah, Eve eve memes and and some I think
it says WIFT. WIFT did OK yesterday yeah, it's
memes are definitely picking up, let's put it that way and AI
those those narratives are coming back as the things that
people want to own. I'd still be wary here just
because I don't think participation is anywhere near
as high in this rally as it was in previous ones and I think
it's mainly around Bitcoin. So but it does feel as though if
if can keep going, then an altcoin season can still can
still be. So we talked about and people
will automatically get drawn into the the most risky, risky
stuff, right Macro news. I think the the biggest like
crypto wide headline has been coming out about these these
exchanges now moving into tokenized assets and it's moving
quite quickly now. You had buy bit do it earlier in
the week and then today you've had cracking come through and
say we're going to do it too. It feels as though the next move
would really be Coinbase here. They they'd spoken about doing
tokenized coin, coin stock, if you remember on their platform.
If they were to move it to other ones, that would be a very big,
a big move. Particularly it would be for
global users. I don't think they'd do it in
the US, but that they clearly feel like they can do this.
So I think that's a good sign, yeah.
Other signs of like massive risk taking other than James Wynn,
funding has not gone that high across the board.
It's remained pretty low, but open interest has gone high.
So I think there's a lot of people coming in and doing the
basis trade. But yeah, it's not normally last
time Bitcoin like went above these sort of levels, funding
like really spiked, really, really spiked.
And it hasn't these time these times.
So it probably points to the idea that we probably are in a
market of depressed funding for for a while now and only now
that will change. There was a big deal for
Worldcoin. They got 135 million led by
A16Z. And then we've seen this morning
that that one of the major D5 protocols on SUI is facing it
was, it was still unclear to me because I'm not a dev, but like
there was talk of either being hacked or that the Oracle
provider, the major Oracle provider for the decks had been
facing an exploit. Either way, there is someone
draining 10s of millions of dollars from that platform right
now and bridging to other change.
I think he's bridging the eve. So that interestingly, Siri just
hasn't really reacted. I think people just know like
whenever this sort of stuff happens, you meant to like buy
the dip, but Oh no, it's reacting a little bit more now
actually like like rallied, which I thought was like kind of
strange. But look, we've spoken about
that. We don't really know what
happens on SUI that that often. This was one of the few major D5
protocols on SUI and for it to get hacked it it will really
affect their TBLI. Don't can I bring it up live SUI
TBL Sui TVL right now is down 10%.
It's it's it had gone above 2 billion.
It's now at 1.9. I don't know if that's even
delayed. I would imagine a lot of people
taking their money off sui right now and then some other
headlines. Obviously this is this is a
period right now where you're getting headlines from chains.
There's a lot of like Solana week, Sui week, Avax week.
Avalanche announced their partnership with with FIFA
today. I thought it was big, but maybe
not as big as people were making out to be.
And yeah, that's about it. Yeah, and that's a great
rundown. Maybe let's just take into this
this we exploit a bit and then we'll go back to Bitcoin in
majors here. So I think it's still a little
unclear exactly what happened. So let's let's start there.
I thought this breakdown from Abby, well, it was pretty good
here. So basically see this protocol,
one of the primary LP's on SWE suffered A Simpkin exploit it
looks like and then the exploiters have been draining
the LP's. What happened in the wake was
basically all the top tokens on SWE instantly dropped 80 to 90%
as the their liquidity pools were being drained.
We see it still now. So like the number one like Lofi
down 75%, this Hippo token down 80%, Squirt down 90%.
So that was a part of the immediate impact there.
It looks like it was 200 million in total so far.
That's what the early reports are saying.
So fairly significant as you mentioned, they they've been
taking some of it off off chain. I think the USDC token on Suite
D pegged quite a bit during all of this as well.
I was unable to find the the specific chart for that.
I think a couple reactions on my side.
So the tote suite had reached $424.20 right before all this
happened, likely one of the the bigger alt movers, I mean at 5
or 6% and then now it's giving back those gains.
I don't think it's huge surprise, but I haven't seen on
the timeline and maybe this is not surprising.
There's a lot of people who are personally impacted by this.
Didn't that say a lot? You've seen a lot of folks kind
of racing to talk about it. Yeah.
I haven't seen anyone say like oh shit my my hippo position is
down 80%. I forgot about sui Dang that.
Was a big one. I think you have Moodang or.
Not Moodang. Oh, so Moodang is up on the back
of that. Oh, Jesus.
Moodang is probably the play. Moodang is probably the play my
friends. Those candles are tough.
Wow, Yeah, it was. I'm going to.
Buy some moodang. Why not?
It was 300 million, so maybe the maybe Moodang backers were
behind this to kill off one of their.
Yeah, maybe this, Maybe this was really about Moodang all along.
Moodang up 8%. Come for the hippo.
You better not miss, you know. I wonder how O VS OG Moodang has
been responding. We got check in on the OG
mooding major mooding token spread here.
I am curious what this means like I think this is a bit of a
blow to sweet here and a little bit early to react.
It was on my like top five, top eight list of like potential
fastest alt horses in a in a Bitcoin rally.
Now I'm curious if it gets crossed off the list.
Logie, what do you think? Yeah, it's really interesting
because we just talked about not really knowing too many people
that are personally affected, yet at the same time it felt
like this was a chain and a brand that just had a ton of
momentum at least as as alts go. So same, same sort of thing for
me, Tyler, like as far as considering other potential
baskets, you know, should a real and true alt season come around.
This was of course an ecosystem that I I kind of had on my list
is like, hey, definitely want to check this out.
And to me, yeah, this, this just feels like a major momentum
staller. You know, kind of think about
the NBA playoffs and things like that, how you can just feel the
momentum of a moment shift so dramatically.
Kind of feels like one of those events at the same time, as
Mando noted, a lot of these things over time, you just get
shrugged off, right. So they're they're it also
presents a pretty clear opportunity likely with any very
legitimate tokens. It's difficult with meme coins,
of course, but like, yeah, you pull up walrus here.
Any, any other like legitimate ecosystem assets here on SWE
that you have conviction in, should you already know them or
that you had interest in potentially learning about?
You know, now is maybe a really good time to kind of like dig
your claws in a little bit and see if there's something of
substance here as attention and as, you know, feelings about we
and these particular protocols may be kind of at a local low, I
would imagine. So I, I think you could, I think
you could go both ways. For me personally, it just feels
like a yeah, feels like a definite, like a reset stall of
a lot of momentum that it had been built in building over the
last couple weeks. I think you brought you brought
up a really good point and like we've seen this before, if the
team comes out, addresses it, you know, perhaps finds a way to
make impacted users whole. I think this is a a blip that
you can get past. And to your point, maybe it
slows down near term momentum. But with the the financial power
behind this one, with folks like Raul Paul behind it, I'm
definitely not going to cross it off the list of runners.
Like I still I would not bet against Sui making a new all
time high in 2025. Let's just say that.
Yeah, I think one of the things I'm trying to like hit myself
over the head with a little bit more recently too, and I think
Mando has said this on the show and I think OSF has tweeted a
handful of times as well, is like just like needing to be OK
with buying the really bad headline stuff you.
Know what I mean? If if the you know the
conditions are right for it. Like, of course, if SUI or any
other thing had bad headlines, you know, and, and it wasn't a
real protocol or whatever, then you, you may not buy it.
But if you actually like believe in Sui, you know, I'm not a
foremost expert on it. But if, if you actually believe
in it, like these really bad headlines present themselves
with great opportunities. And I'm trying to get better
just emotionally myself as like being OK, you know, 'cause I'm
just like everybody else. And when the, the bad starts
piling up, you get sheepish and, and scared.
So I'm trying to beat myself over the head with that type of
stuff that like, hey, now may be the time, right For for those
that are seeking an opportunity. Yeah, very good call.
Well, let's go back to the big dog.
We had to talk about the sweet exploit.
But the biggest news of the day is still by far Bitcoin new all
time high. I think it hit one 11700 and
11,750 overnight. Still hanging.
OK, it's still hanging out at 111.
Logan, your dad, he text you? I think that's a great question.
Are we on the easy road or are we still on the hard Rd.
So we're referencing Kobe who it was John Something who basically
said the road to 110 K is the hard one and then the road to
200 or 250 K is the easy 1. So do we think we finally have
broken through 110 K for real? I don't know if that's directed
at me, but I, I don't think I'm, I'm quite ready to say that we
we've broken through, but it feels like we're getting ever
closer that that's what I'll say.
I mean, it was what just a just a couple months, which feels
like eternity, you know, sort of this choppy stuff.
And we're not too much above the all time high that we set.
When was that? Was that November with the first
one O 8 or whatever? December, December.
OK, so I mean, five months feels like much, much longer than
that. I think we're getting, I think
we're getting close. It's just, it's difficult for me
to, you know, I, I didn't pay close enough attention to like
the Bitcoin moves during the last cycle.
I, I was more focused on NF TS and stuff like, you know, like a
lot of folks were. So it's difficult for me to
remember the potential violence. I saw somebody tweet this
morning, you know, about the move in 2017.
It might have been Moon Overlord or something like just how
violent it can get, how swiftly you can go up.
It's difficult for me to know and feel and remember the the
easy Rd. for real. So I'm sure I'll know when we
get there. I think we're getting closer.
I don't know that I'm ready to say we've maybe hit that
accelerator path just yet. I'm looking back at 2017.
This is really before my time. April 2017 Bitcoin was 1000 and
it ran to 17,000. So I think that's the type of
banana zone move folks are talking about.
And then 2021, the parabolic move from October the year
before 11 K up to 63 and a full 50% drawback by through summer
in the late summer, so like in July bottom and then November
was the peak 67 K before the that bear market started.
What number do we need to hit to to the think that we're safely
on the easy Rd. Is it one 15120?
For me, again, not the foremost macro expert, but like a really
big psychological for me would be more like 125 Ki.
Don't I don't know why that's just the the number of stands
out to me. Mando's going to have a much
more, you know, educated guess here.
I would I would imagine than what I can provide you.
I, I actually have no, no clue. That's, that's kind of the good
thing about this is that like when it, when it breaks all time
high, there's nothing in the chart that can tell you when,
when it will stop. Like if it's hitting new all
time highs, you can judge from like the last time it broke like
where it faced significant resistance.
So I think the last all time high was well, like 72.
And then when it broke that it kind of didn't really hit
resistance until 90. And then we, we battled around
there for a while and obviously then we went all the way back
down to like 72. So when you say we've constantly
breaking 110, what I would always say, I always say this
like you will get another chance.
You might even get another chance to buy Bitcoin below 100,
just like have that in your mind.
So like when you're like, oh, I need to go all in.
The higher it goes, the less long you should be.
Let's put it that way. So change that for your mindset
a little bit more. Yes, some of the old coins will
have some some huge moves, but you should have been longest
AT80K and now you should know that the volatility is really
going to pick up. So even in a day like I, I saw,
I told you when we hit all time highs, I was selling some of my
ETH position. I managed to buy back 5 or 6%
lower than that on ETH. But that's not a small move.
I would always be wary of being maxed long at the highs.
You're not James Wynn. Speaking of big game James,
let's pull up, let's pull up his position.
So at one point he had a billion in this position on a huge 40X
long on Bitcoin. He had 10X long on Pepe and it
looks like he's also 10X long on sweet.
I don't know if that's been added in the overnight, but he
is down a bit on the the sweet long.
Overall, his position's up 24,000,000.
Notably during yesterday's volatility, he went from being
up 13 million to down 19 in like an hour.
So $32 million swing, but then it's bounced back.
He's big in the green. I, well, I didn't realize.
I didn't realize he got liquid. He was going to get liquidated
at 90, at 90, whatever, it's happened.
I thought that's what his entry was.
His entry is pretty fucking high.
It's high and he like he added to it.
I think at one point his his his like average injury was like one
O 8. Like to be long.
A billion from 109 K like that is.
That is ballsy to say the least. It is ballsy to to say the
least. His what's been going around
today is his pin to tweet. I don't get this guy chilling.
He's chilling Moon pig. Right now.
Oh yeah, he's so. Confused about everything about
this. Why?
Would he be doing that? Why does he need to do that?
So many questions. Apparently this guy, I think
Froak said yesterday, there's, I have not dug into this funding
from like an Alameda source. He was early to the Pepe trade,
bought Pepe at like 3 million or 300 K or something absurd and
made some huge Pepe calls and now he's just along with a a $1
billion position with Bitcoin. That's not enough for him.
He's spending the rest of his time bull posting moon pic a a
new meme coin that I've never even heard of before he was
talking about it. It looks like this thing has
actually been around for a little while but he sent it up
160% in the last day. So this is the top meme mover on
the board now closing in on 100K and if big game James is behind
it that's that's enough for me. Just close where I did buy some
of this before the show. So here we go.
All right, all right, with James Wynn for a little bit, but I
want what I want to talk about. He's now for big game James is
that is that purely a moon pig thing is that is that now change
your change your terminology around him.
I feel like we're we're, we're good buddies now that we share
the same meme coin. Position.
So we're getting a little more chummy.
Are you in a? Are you in a chat by any chance?
You might as well go into the moon Pig Wales.
I wish I'd be a lot richer if if I was.
To the moon digs, you know. I'll get on that after the show,
see if I can jump back. He's like, he was running in
spaces yesterday too. It's just like a wild thing to
do. But this is his pin tweet.
He is saying that we're in the hope phase right now or April
was hope, May, June optimism and saying in July blow off top.
I don't know exactly what numbers he's calling for here.
You would have to. I mean that's looks like 150 to
me. I've never seen this chat
before. What is this chat?
OK. I know we're not.
Brother, like every single fucking gay.
I think I see this chart. I don't know.
I've never seen this chart before.
Once in my life when I used to trade in trap fire and then I
came to crypto and it was just like the only chart that anyone
looked at. Yeah, I'm with you there.
But I think it's an interesting discussion on kind of where does
where do things go from here. So basically this thesis is that
Bitcoin blows off top this summer, July and then we dip
back down and like following this, like we would potentially
dip back down to like 100K below 100K, which to me is kind of
hard to fathom that we would like what would send this to 150
K and then all the way back. I feel like if we went all the
way back and gave that. Global liquidity has come down a
bit. Global liquidity has come down.
So I would say, and this again is just my, my history of
altcoin season is that they are generally 2 to 3 weeks long.
And I would say it maybe started even a week ago with, with with
pectra. So I would say maybe we have
two, two weeks, maybe 3 and then I'd be wary.
This is just my like people always think that altcoin season
lasts for months. They do not.
They really, really do not. That's.
All we're going to get, it's going to be a little
disappointed. But you can still have like
stuff go to a billion, I'm not saying, but like it always moves
so quick. Like Peanut went from 150 to a 2
billion. You will have like you will see
a few more of those stories. Yeah.
I just, I'd just be wary. But if you think it's going to
last until July, it's probably going to last until June.
Do you know what I mean? Yeah, I think that's fair.
And I don't want us to forget that Ethan is up 40% already.
Yeah. And since May 7th, so in the
last two weeks, it's up 1800. No, 2700 now.
Nice. It's actually going up quite a
bit. It's not the only Yeah, go
ahead. Where was the peak for most
alts? It was like December.
Solana kept on going but most other things kind of peaked by
the 1st week of Jan maybe or like the last week of December.
It was. And I think start, yeah, that
was 8 weeks. That was 6 I guess, wasn't it?
Well a lot of people are are are going to misremember how the
meme cycle went and think Trump was the top.
But in fact memes actually topped in early December at Doge
and then fell from 137 to 40. Wow, 100.
Billion. So how long?
How long was that? Let's just have a look at that.
So peak, peak to peak and the meme coin market cap was from
November. What was that dip there?
So that was the 11th. So that was the.
Election, yeah. Yeah, so like the election.
So let's say the 5th of. It was a month.
Yeah, yeah, that, that's what I would say.
I think you got, you got a month and I would say there's, there's
less participation in this one. So it could be, it could be
less, but things can go wild in that time.
Yeah, it's it makes for an interesting June set up for
sure. I want to dig into what has been
moving. So I mean, clearly like the top
alt is high. I mean, man, this thing is going
3150 now I'm out of position on this one.
It basically feels like we're kind of getting into price
discovery that the highest daily close is 32.
It it did Wick higher. It Wick to about 35, but but
it's it's basically an all time high as I I haven't seen the
hard date on this. The the team they're printing
fees and they're buying it somewhere between 3:00 and $5
million back of the token per day.
So I mean it, it's got a good narrative.
It seems like a lot of folks behind it good fundamentals.
Arthur Hayes is calling for a hundred, a hundred per height
token. Do we think it gets there?
Do we think this is the the main alt?
Yeah, yeah, I do. I do.
I think it goes to 100. I think PUPS also goes to 100.
Arthur Hayes has been very good at calling these sort of things.
Pups. Predictions for every single
altcoin that he owns literally he just says every single one
that he owns is going to multiple billions.
I I I think hyper liquid could, but that would flip solana, just
to be clear here right? So keep that in mind.
I it it may, it may, yeah, I don't know.
It looks expensive on some metrics.
On the buy back, I think it looks expensive and on the but
on the chain metrics it doesn't. But yeah, when when people try
and compare it, they always compare against, they always
compare against a theorem rather than radium.
And that's that's an interesting one.
I feel like I've been overly cautious on this one ever since
I exited and you're coming on like late.
Like it almost feels like late longs entering here.
Like I mean, it's already made a huge move.
I'm very like 100 is like such an easy number to call out.
But then you're saying like it is literally it's going to be
the same FTV as Solana. Like that doesn't feel right
like that. That doesn't really pass the the
snip test, the gut test for me. Now if Solana double S and Salon
is at 200 billion, could have to do 100.
Yeah, I think that's a different conversation perhaps.
So I think you need to see some more upwards movement quite a
bit and some of the other alt movers to get there.
What also seems out to me is like why are are other protocols
not copying this model? Like it just seems so obvious to
me. So what would you mean by that?
That also the debt spot Max yeah as long as it's GMX, there's
none of them have just managed to get to scale I I don't know
what has worked for hype and what didn't work for the others.
I, I, that is a very good question.
Like why did hype work so much better than the others?
I think mainly because it got people, everyone got hooked on
the air drop and it is a, it is a better platform.
So the, and now it's got this like flywheel of like liquidity
staying there, but I don't know if there's not going to be a
better perp decks that comes out in five years.
Do you know what I mean? Like it is this is not a Moat to
a perp deck. There's lots of different ones
that get created. I think it's interesting to see
like if they will go down the route of tokenized stocks and
stuff like that, like that is something that will draw even
more people to the centralised exchanges if the centralised
exchanges are the only ones that are able to do it.
And you know, there's a lot of rules around perps, which This
is why like Coinbase doesn't have that perps for a lot of
things in the US, right? Only for commodities.
There's a lot of questions with hyper liquid about whether like
they are really going to have to operate in the same way that
they have so far in the US because Coinbase only allows
Bitcoin and ETH. Maybe is it right now and maybe
like other things which are commodities, but largely it's a
very difficult. That's the one thing they are
going to regulate is perp Dexes. They've been pretty explicit
about that. So we'll see.
I'd like to be fair, hybrid has been a great trade.
I'm not, I'm not trying to I'm just trying to say the things if
you want to have your the things that you want to be aware of, if
you want to go big in it is that you know that them facing some
form of investigation or them or yeah, I think the valuation 1 is
probably fine. Like I think no one really cares
about the valuation in a bull market as long as James wins
around. James Win has helped drive this.
We might even give him full credit for the cyber liquid
pump, even even the move from 9/9 to the 30.
We'll give it to we'll give it to James the other alts there.
I mean pretty undeniable with with the market flock to and I
guess world coin had its own news.
But when I look at this board, it's AI and memes.
So you've got world, it's an AI trade.
Tau is the number six mover at one point.
Fed was up there as well. It's like a maybe yeah, that's
top ten. Then you've got SPX part coin
folky with so I I think it's some some clear signal at least
early on. And what folks are going to be
buying our coin? What what, what do we think
here? It's just been grinding up.
I think Froak said Dollar sixty is the next level we're going to
get. The his charts his his.
Charts, we go to $1.60 and then we'll do the the same song and
dance where we just consolidate, dip.
It probably goes back to $1.30. I'm just wondering.
As a chart, it just looks so relaxed.
Do you know what I mean? Like basically since 300
million, it's just like this, this unbroken chain higher.
It's kind of looks very similar to the Bitcoin chart actually.
That's what I was thinking a little bit.
Real tips, just it's kind of gone higher.
It's unlike I, I don't really recall seeing many other meme
charts like this and I've been deep in the the meme game since
2023. Typically even like your
outperformers like with had three big 70% drill downs before
my vertical. I guess FARC one kind of had
that last year. It had an early 70% dip.
This one's, yeah, this is a 50 percent, 60% dip back in
December. So maybe early on in in its life
it did maybe the holder base. Maybe when the holder base just
gets this big it it kind of softens out the curve about like
152,000 holders on this thing. It's almost been like too comfy
of a hold like if you know what I mean.
Like that, there really hasn't been days where you're really
sweet. It's definitely the coin to buy
on any sort of a bad day. That's that is what Farpoint is.
I think if it were to get a spot listing at Coinbase or Finance
or Robin Hood, for example, that would be the thing that would
make me more wary of buying a dip.
Let's put it that way. Like if it would rally and then
I would probably tell someone that that really happened just
because I think that that's kind of part of the reason why
there's always a such a strong bid for it.
Like people know it's always going to get it will get a
listing sometime soon. But yes, it is a very good dip
buying sort of I'm trying to think what else is like feels
just like that Pepe maybe, but Pepe, Pepe is a bit more
volatile, I would say. And it's it's at times it's felt
like, oh God, maybe that was it for the cycle for Pepe.
It's it's really just been Bitcoin and far coin, which
which have felt like that. I don't think there's really
been anything else. It's just like, yeah, there's
always a buy for it. Maybe Hyper Liquid would would
be another one actually maybe hype.
But hype at times also felt really fucking bad, right?
I mean, this was a rough stretch for hype.
Yeah, right. It had it faced the export.
You went from 27 to 9. No, I mean, since over the last
month, I mean over the last month, it does look like Hyper
Liquid was another one of those coins that like if you didn't
buy it at the start of this move, this broader move like
you, you didn't really get a chance to.
Yeah, it's been much easier since April 7th.
That that is a fact. Sometimes I think I.
Oh, man, what is Fartcoin's explosive mood?
What's the catalyst? Pepe's four times bigger than
it. I mean, Pepe's hanging out,
casually hanging out at 6 billion right now.
There's. There's big blasphemy about
Pepe. That's, well, going for ship, my
friend. Pepe is going for ship my
friend. I want that dad, but I think I
think all we want all the the boats to rise here's like that.
That's what that's what raises the ceilings.
Trump coin is still at. I mean, it's at 15 billion FTV.
The Mason It's the dinner this week, no?
Yeah, dinner's tonight. Oh wow.
Justin Sun's in in Washington. Yeah, Bitcoin pizza day, Trump
dinner day. It's a big.
Day. Is that a conspiracy right
there? Bitcoin all time high just
happens to be in the day that that Trump holds a dinner.
That's a little bit of conspiracy like.
I'll get to take credit for it as well.
If that's going to be a thing, I'm going to need Trump dinners
every day. I.
Mean that's not out of the question either There's been two
this month and they are very likely to to continue.
Well, let's keep going around the board the the out the risk
curve AI tokens had a nice day as well.
So I talked about the majors with Tau and set worldcoin.
I guess virtual was kind of even, but there was some decent
movers cookie moved quite a bit, so it it's continuing to grind
up on the back of its info. If I launch wasn't sure if
yesterday we were late. Looks like no, we weren't that
late. It's up another 26% since
yesterday's show. So cookie back up to a 250
million FTV, still 8X off of Kaido.
So, so perhaps some more room to run and that one a buzz up quite
a bit. And there was a new pre sale
yesterday, one of the better performing pre sales in
sometime. This distributed AI token,
they're looking to kind of like an AI version of of GRASS that
the GRASS token I've seen it's like distributed compute.
You can run it locally on your machines to empower a broader
scaling of AI tools and products.
So this thing shot out of the gate, hit 50 million.
It's kind of been chopping a little bit.
So it was around 35,000,000. The presale was 30 was 15.
So presale was up 2 1/2 X. The other one was the new Launch
Coin competitor. So I'm not sure if folks saw
this a bit of drama on the Internet capital markets
yesterday. So, so Launch Coin had been
cruising up to 260 million now down 25% on the day, hanging out
on 185 and around support the the broader ecosystem down quite
a bit. It was like 430 yesterday
morning. It's at 300 million now.
So it's down about 30%. And part of the driver, let's
see if I've got the tweet is from a new competitor.
So gavel came out yesterday, but they're more their their model
is a more, they're going for more equitable on chain token
distribution. Basically what they mean is a
way to avoid snipers. So their models.
Just this looks so Silicon Valley it's not even funny.
You know, there's like everything about that just looks
like Silicon Valley. We we're going to gavel your new
like all better VCI Bet they've got a great presentation.
They've probably got like a nice little video trailer for the
whole thing. God, I just makes me want to
throw up my mouth looking at that.
And continue, Yeah, sorry about that.
Yeah. So I've basically described what
it is. So they they have a little bit
better model for how these ICM tokens.
So in a couple of markets team like a real builders launching a
product and who want to launch a token, they can do it.
It's not exactly like open public markets where snipers can
take advantage. They they use like a a pre sale.
So it can still be public, but in a more fairway.
I think what caught everyone's notice was Raj Solano Raj
rallied behind this, totally rallied behind this.
Kobe said it was cool and someone's retweeting this.
So like everyone was kind of in the a lot of people saw this at
rallied. They launched their initial
token IBRL, which soared out of the gate to 70 million briefly
60 plus sold off about 50% now hanging out around 40 million.
So couple impacts new launch coin believe app competitor when
this dropped came out it everything sold off was a
massive liquidity suck, which to me is kind of a a sign of health
or lack thereof in this broader ecosystem right now.
That one $50 million runner just destroyed everything else on the
board in the ICM era sector memes were were fine, but then
it also forced Ben Pasternak to to respond.
So he immediately came out and, and shared an update about the
new website live, more endorsed launches happening, which which
was the next round of flood because then this club token,
this this founder launched this club token.
Pashmak responded with eyeball emojis.
So people start piling in. Then the founder launched a
second token. Total chaos.
And I think that is what drove this kind of second leg down.
So what? What?
Can I ask what do you own now? Tyler, I know you like you get
involved in a lot of different stuff and made-up to reveal
everything, but what are what are your main plays?
Because I think my plays are a bit more bigger things right
now. Like I own right now in ETH,
pretty much every ETH major ETH meme coin.
And it's a pepper and it's a mog rect, obviously.
Solano. I have Epic obviously, and then
have a bit of Falk coin, but that's kind of it.
And I just bought some Moodang, actually.
Cheeky bit of Moodang. What What, what are you involved
in? That's the long tail of Tyler's
portfolio. Bitcoin and far coin barbell is
like 80%. OK.
Wrecked is my third biggest position now, I'm happy to
report. So that's been a big one.
I've been getting into a couple other ETH memes and I actually
trimmed 75% of my long score position yesterday.
So like that had been one of my bigger positions.
I think yesterday was a sign a that they're going to face more
competition. I don't know if Gabel is the one
that's going to disrupt them, but it's unclear.
They have a huge Moat. There's still a bull case.
So I don't want to say I've given up on launch coin.
If if passion, I can team bring some good founders to the table
with good successful projects. It can certainly rally again so
that there's still a bull case, but the bear case has a higher
likelihood I think now than perhaps it did.
And then yesterday's flooded launch, I think it was just
another one. So trim that I'm not really like
I I have been dabbling in the salon meme ecosystem, but in a
much smaller scale. So just like small bets, just to
have some fun on a day-to-day basis, nothing crazy.
So like moon Pig's not like some massive position for you or like
you're not in all in on like house coin or anything like
this, because I know some if that's really interesting, isn't
it, Because I feel like we we all were involved in a lot more
of those sort of coins as Bitcoin was breaking all time
high last time. Yeah, I feel like I'm playing
much tighter. Yeah.
And I feel like other people are as well, but that that's my
read. But but Logan curious for for
your. Reason, yeah, same goes for me.
I'm I'm not like actively really doing too much.
Some of that was because you know, I just got back from Peru
and stuff, but other part is because I feels just so much
safer and some of those other assets and it also feels
simultaneously foolish to be dumping money into Moon Pig and
shit like that when Bitcoin is breaking all time highs.
Well. You shouldn't feel.
That, well, I don't know if you know, that's just like some sort
of emotional feeling that you know, is isolated to me or or
not, but every dollar that I'm not putting towards, you know,
like a, a Bitcoin type play, you know, those we talk about what,
you know, what is felt like that safe grind, steady grind up far
coin Bitcoin, like every dollar that I'm not putting towards
those just feels wasted elsewhere.
You know what I mean? And I'm not highly confident
because I, I was not actively participating in the trenches
and stuff. I just, I don't have any feel
for what's going on. And as you noted, $150,000,000
runner is, is pulling from everything else.
There's just, there's just not allowed, not enough love to go
around right now. So if you are trying to like,
you know, who knows, maybe enjoy your summer if the sun ever
shines here again or stuff like that.
You, you really, you really are not enjoying the weather, man.
Go back to Peru. I need to get back to Peru.
It's so bad it rains. Dude, you need to get out of
there right now. It rains every freaking day
here. But anyway, yeah, I mean, if, if
that stuff ever comes around, I want to feel a little bit better
whilst still holding, you know, to upward trajectory.
I just, I just feel silly putting the money elsewhere.
Oh, I mean I'm looking at I'm scrolling this decks board there
like there's nothing going on. Like there's not like not really
any new memes running like. How much is Liboo Boo to me
today? What what?
What's that? Our our, our, our social intern
was tatting Lib Boo Boo very early.
He was in it like 2 months next on that.
So this is I guess this is one of the biggest moves of the day
as well. It's about 160% Boo Boo.
I guess Asia loves these things is the pitch that I was told Aja
loves this la Boo Boo. I don't know anything bro, but
the the intern's quite happy today.
Big on we Boo. Big on WeChat.
We got a couple minutes left. Logie, I wanted you to take us
through a couple other of the stories.
So the Solana mobile story is actually pretty big.
So can you give us the the the quick rundown on this?
Yeah, so of course everybody knew the Seeker was coming.
It's a second generation mobile phone following the saga.
What we didn't know and what was announced yesterday was that one
pre-orders will start shipping on August 4th.
So people who have placed the pre-order should expect phones
in the next couple months. And then also too, it's coming
with a new decentralized sort of infrastructure and architecture.
And perhaps the biggest thing here that I've buried is that
the Seeker SKR token, the native asset kind of of the Solana
mobile ecosystem designed to be just that, you know, beyond just
one phones. This is not just like a Seeker
phone, not to mix the two, but not just a Seeker phone token,
but really for the entire Solana Mobile ecosystem.
So I spoke to the GM of Solana Mobile yesterday for the
article. It's up on decrypt and you know,
he told me that they want to bring everybody along for the
ride, everybody who's participating in this ecosystem
and what they've done with T pin and sort of opening, creating
this sort of decentralized open mobile ecosystem, you know,
which is designed to sort of think about it from a developer
perspective. You know, where Apple and all
the all the gatekeeping and all those concerns, right, that have
forever been brought up as it relates to crypto apps and you
know, just apps in general, trying to make that an open
network, this open, permissionless, trustless
network for developers, users, participants.
And so that's where you know that the token and the
infrastructure come into play token to power things, the
native asset of that ecosystem and the infrastructure, which is
called T pin. I'm not the technical guy, so
I'm not going to break it down here on the show for you, but
you can learn more about it that to help, you know, empower it
quite literally. So yeah, I guess we'll see what
what it looks like. We don't know token launch
details. We don't know tokenomics or
anything just yet at this point in time.
But we do know the phone is coming in early August.
It's still available for pre-order, I think around
$500.00. So it's about a five.
It's about 50% cheaper than the saga was, and it was, it was
interesting chatting because, you know, mobile experiences for
crypto thus far have been really hit or miss and probably mostly
miss. You know, when I spoke with
Emmett Holier of Solana Mobile yesterday, he mentioned that he
doesn't think anybody's cracked the code yet.
You know, and that's what they're kind of looking to do is
that most experiences for crypto have been sort of, hey, let's
take this website and make it mobile responsive, which is
largely just kind of like shrink things down.
They're trying to actually, you know, solve for it and make the
crypto experience usable on mobile.
So we'll see, see how how they do.
And the it's interesting I've seen people interpret this as
now Solana has a second ecosystem token.
Yeah, I actually, I asked him, I asked him pretty clearly why.
Why launch this token when Solana exists, right?
It's already a great token, you know, with great brand
recognition, and they want something that's purely
representative of the Solana mobile ecosystem.
I don't have the article up in front of me, so I don't want to
botch his quote or anything. But, you know, it's largely
around those lines that they wanted something solely
representative of the Solana mobile ecosystem.
It will live, of course on Solana, you know, as a Solana
token, everything they do is built on Solana as well.
But they want, they wanted something to represent just this
mobile ecosystem as kind of like an, you know, an isolated asset
from, you know, the rest of of everything else that's going on.
I. Think it's that big backing,
right. It's probably going to have the
Solana Foundation behind it totally all those folks.
So it's going to be interesting. We'll see if it if it's bearish
on slot. I don't.
My gut is that it's not. I think you.
Can. I don't think so if.
You're that's separate enough and distinct that it's not
really a second ecosystem token, but I didn't find that an
interesting reaction. Look, we're almost out of time
Logie, but the FIFA story, there's a lot of FIFA fans out
there. You wrote the article, you just
give us the the quick TLDR on. This one, sure.
So FIFA announced actually at the end of April that they would
be migrating away from Algorand. They have a collect, FIFA
Collect, which is like Top Shop, but soccer, football
collectibles. They announced at the end of
April that they were going to be migrating to its own chain.
We didn't really know much more beyond that.
The announcement from this morning is that they are
building their own L1 via Avalanche, Avalanche's Ava Cloud
product, which just allows them to again control their own, you
know, basically their own layer one block chain.
So other than that that, you know, that platform is migrating
over. That's kind of the first step,
but they did indicate in the release that, you know, future
business cases and use cases are being discussed.
We don't exactly know what those are.
I got a quote there from chief business officer at Ava Labs who
just mentioned that, you know, this is a a big win for
potential adoption people. You know, this is a massive,
massive organization, as you mentioned, tons and tons and
tons of millions of fans globally and now moving, you
know, to A, to a blockchain with a bit more brand awareness, a
bit more presence. No knock to Algorand, but how
many people are using Algorand? You know, many more folks are
are using Avalanche so and Avalanche like products.
And that's, that's one of the keys here is that this, this
move enables them to EVM compatibility, right?
So you can use Metamask to collect FIFA, collect
collectibles and stuff like that.
It's just, you know, it, it's it seems kind of like a no brainer
in terms of potential adoption. So.
Yeah, big story Avalanche building momentum, they've got
good biz dev got to give them credit for that.
I told Banac also launched that their Avalanche focused fun
yesterday as well. So there's a lot of eyes on on
the Avalanche eco for sure. So this will be an interesting
one to continue to track. Folks, we're men over.
I think that was a good rundown today.
Bitcoin all time high still hanging out.
We'll see if we are higher for tomorrow, but As for today,
that's it. I want to thank all of our
listeners for tuning in today. I want to thank my coast.
I want to thank our partner. We will be back tomorrow to
round out the week with Fort Corn Friday.
Yeah, and some double action. Till then, go make it a
beautiful day. Goodbye.