1 00:00:00,680 --> 00:00:10,400 Good morning, good morning GMGM. Everyone walked up fuck for 2 00:00:10,400 --> 00:00:13,800 another episode of Homo power. I know episode it is. 3 00:00:13,800 --> 00:00:16,200 I've lost track. We've done so so many. 4 00:00:16,200 --> 00:00:20,760 We got to get our tracker back on top of the street of today is 5 00:00:20,880 --> 00:00:27,040 Thursday, October 17th. It is another cooler Sunday 6 00:00:27,040 --> 00:00:30,800 morning here in Chicago. Today folks, we are in the 30s 7 00:00:30,800 --> 00:00:34,480 again, but back in the 60s and 70s later this week. 8 00:00:34,480 --> 00:00:38,960 Heating up by the weekend. Are memes heating up into the 9 00:00:38,960 --> 00:00:41,640 weekend? Starting to see signs that a 10 00:00:41,640 --> 00:00:44,600 weekend run might be starting here today, folks. 11 00:00:44,600 --> 00:00:47,840 We're going to break that down. Plus, all the news on today's 12 00:00:47,840 --> 00:00:50,760 show. Farouk is busy out interviewing 13 00:00:50,760 --> 00:00:52,640 folks and galvanting around Paris. 14 00:00:52,640 --> 00:00:55,400 Mando is traveling today. He's not going to be able to 15 00:00:55,400 --> 00:00:58,280 join us, but we've got Logan Hitchcock on our editor in chief 16 00:00:58,320 --> 00:01:00,880 over at Lucky Trader, holding down the Fort. 17 00:01:00,880 --> 00:01:03,680 Logan, Jim, how you doing? Hey, good morning, Tyler. 18 00:01:03,760 --> 00:01:07,160 I'm doing well. Yeah, excited to chat all things 19 00:01:07,160 --> 00:01:09,160 market. Glad to have you on board. 20 00:01:09,160 --> 00:01:13,840 Another busy day in Web 3 folks. We are going to keep today's 21 00:01:13,840 --> 00:01:19,120 show a bit tighter. 3540 minutes show a very concise update on 22 00:01:19,120 --> 00:01:20,720 everything happening in the market. 23 00:01:20,720 --> 00:01:23,720 So what are we talking about? Topics on today's list? 24 00:01:23,960 --> 00:01:26,760 We're going to talk Bitcoin falling a bit despite massive 25 00:01:26,760 --> 00:01:30,920 ETF inflows A16Z. They published their state of 26 00:01:30,920 --> 00:01:34,240 crypto calling 2024 the biggest year yet. 27 00:01:34,240 --> 00:01:37,440 We'll go through their report. Vitalik continued his blog 28 00:01:37,440 --> 00:01:40,120 outline the future of Etherium. We've got some breaking news out 29 00:01:40,120 --> 00:01:42,640 of Jupiter. They launched ape Jupiter this 30 00:01:42,640 --> 00:01:45,600 morning as they lean deeper into meme coins. 31 00:01:45,800 --> 00:01:49,680 We've got this GOAT token Logan euphoric last night as as it 32 00:01:49,680 --> 00:01:54,000 goes on a mini orc run a few other old meme coins running it 33 00:01:54,000 --> 00:01:55,720 back. We've got big action on the 34 00:01:55,720 --> 00:01:58,800 Runes board, a huge day of digital drops. 35 00:01:58,800 --> 00:02:02,080 I think four or five marquee artists doing drops yesterday 36 00:02:02,360 --> 00:02:06,240 and then we'll end the show with our weekly Arbitrum update here 37 00:02:06,600 --> 00:02:10,639 as well. Before we dive in, shout out to 38 00:02:10,639 --> 00:02:14,160 our partner Galaxis. With seamless built in 39 00:02:14,160 --> 00:02:16,800 monetization tools, Galaxis enables the development of 40 00:02:16,800 --> 00:02:20,680 sustainable long term communities, fulfilling bitcoins 41 00:02:20,680 --> 00:02:24,400 vision of decentralized freedom and independence from 42 00:02:24,400 --> 00:02:28,480 centralized control. Shout out to Galaxis as always, 43 00:02:28,480 --> 00:02:30,520 we love having them as our partner. 44 00:02:30,760 --> 00:02:34,880 With that Logie, Are you ready for us to to start getting into 45 00:02:34,880 --> 00:02:35,640 some market? Check. 46 00:02:35,640 --> 00:02:38,040 Yeah, let's do it. I'm going to pull up the screen 47 00:02:38,040 --> 00:02:42,080 share here one second. I'll I'll do my best Mando 48 00:02:42,080 --> 00:02:46,840 impression and try to go around the horn here for a quick macro 49 00:02:46,840 --> 00:02:50,000 update. So at Bitcoin, crypto majors 50 00:02:50,000 --> 00:02:56,360 down about 1 to 2%. We got Bitcoin here at 66,800 51 00:02:56,520 --> 00:03:01,360 ETH down one percent 2590 Solana down 2% at 151. 52 00:03:01,360 --> 00:03:07,640 Solana continues to lag Bitcoin in this recent week of action, 53 00:03:07,640 --> 00:03:10,880 though if you look at the week, it's up about it, it's up in 54 00:03:10,880 --> 00:03:14,720 line pretty much in in step with Bitcoin. 55 00:03:14,720 --> 00:03:17,720 As for top movers on the day, it's pretty quiet, really not a 56 00:03:17,720 --> 00:03:21,040 whole lot of big movers in the top 100 crypto tokens. 57 00:03:21,040 --> 00:03:25,800 FTT, the FTX token actually was the number one alt mover and 58 00:03:25,800 --> 00:03:29,040 then Popcat starting to make a little bit of a run, but we'll 59 00:03:29,040 --> 00:03:31,800 come back to that later. I think that might be a sign of 60 00:03:31,800 --> 00:03:34,280 what's going to happen here this weekend. 61 00:03:34,560 --> 00:03:38,680 I, I thought it was a little strange that Bitcoin was down 62 00:03:39,000 --> 00:03:41,040 given these ETF inflows. Folks, I don't know if you've 63 00:03:41,040 --> 00:03:44,120 been following these ETF inflows, they are massive. 64 00:03:44,480 --> 00:03:49,800 This week we are talking about $1.6 billion in ETF inflows in 65 00:03:49,800 --> 00:03:54,400 the past four business days. Also pending how today goes, we 66 00:03:54,400 --> 00:03:57,160 might be looking at a $2 billion week. 67 00:03:57,600 --> 00:04:03,280 I bet leading the way pretty much as always here with with 68 00:04:03,280 --> 00:04:07,280 with the ETF flows. Perhaps a reason why why we're 69 00:04:07,280 --> 00:04:11,120 seeing Bitcoin dip like the dollar appears to to grind up. 70 00:04:11,120 --> 00:04:14,720 So some dollar strength here showing the DXY index. 71 00:04:14,720 --> 00:04:18,279 It's basically been up only since October started. 72 00:04:18,279 --> 00:04:21,440 So that that could perhaps be leading to some of the cell 73 00:04:21,440 --> 00:04:24,240 pressure. I think stocks read this morning 74 00:04:24,280 --> 00:04:29,040 as well As for macro news, not a whole lot on the board. 75 00:04:29,040 --> 00:04:35,520 I saw the the ECB cut interest rates by 1/4 percent, 25 bits. 76 00:04:35,520 --> 00:04:41,160 So perhaps a sign of what is to come for the for the upcoming 77 00:04:41,920 --> 00:04:44,960 the next FOMC meeting happening in November. 78 00:04:45,200 --> 00:04:47,400 So that's something somewhat notable. 79 00:04:48,120 --> 00:04:51,720 As for the meme leaderboard and we'll do a deeper meme update 80 00:04:51,720 --> 00:04:55,120 perhaps later in the show. It was pretty much read across 81 00:04:55,120 --> 00:04:56,560 the board. I was actually looking through 82 00:04:56,560 --> 00:04:59,880 that the meme leaders across Solana ETH base, they're pretty 83 00:04:59,880 --> 00:05:03,160 much universally read here this morning. 84 00:05:03,840 --> 00:05:08,240 Doge giving back some gains after yesterday with down Pepe 85 00:05:08,240 --> 00:05:11,840 down 4%. Popcap again the the primary out 86 00:05:11,840 --> 00:05:16,640 performer along with MOG. So perhaps some signs of life 87 00:05:16,640 --> 00:05:23,240 there in the broad list. You know, Logie, we typically 88 00:05:23,240 --> 00:05:26,240 talk more Web 3 headlines with you, perhaps a little bit more 89 00:05:26,240 --> 00:05:30,920 NFTS, Web 3 gaming type headlines, but you know, without 90 00:05:30,920 --> 00:05:33,600 Mando here, it's just us running the show. 91 00:05:33,640 --> 00:05:35,240 It kind of I'm curious, what's your take? 92 00:05:35,240 --> 00:05:36,840 We haven't really had a chance to hear from you. 93 00:05:37,320 --> 00:05:40,440 Mando has shared his outlook basically feels like Bitcoin 94 00:05:40,440 --> 00:05:44,520 probably grinds up to close to previous all time highs into the 95 00:05:44,520 --> 00:05:49,320 election 70K range and then perhaps you know, springboards 96 00:05:49,360 --> 00:05:53,880 from there into Q4. Curious for your macro read? 97 00:05:53,880 --> 00:05:56,280 Like what? How are you thinking about 98 00:05:56,280 --> 00:06:00,800 Bitcoin here in Q 4/20/24? Yeah, I, I mean, a boring 99 00:06:01,000 --> 00:06:03,760 response. I don't have any crazy opinions 100 00:06:03,760 --> 00:06:07,120 about what happens with Bitcoin. But, you know, I, I still do 101 00:06:07,120 --> 00:06:11,000 feel like I'm in line in terms of thinking in line with a lot 102 00:06:11,000 --> 00:06:12,920 of what the market is feeling and thinking. 103 00:06:13,320 --> 00:06:15,240 You know, still some uncertainty, though. 104 00:06:15,240 --> 00:06:17,720 Of course, the market's starting to perhaps price in more of a 105 00:06:17,720 --> 00:06:22,840 likelihood or a probability of a Trump election win, but still, 106 00:06:22,880 --> 00:06:24,400 you know, some uncertainty leading into that. 107 00:06:24,400 --> 00:06:27,040 And then perhaps some of the euphoria that comes out at the 108 00:06:27,040 --> 00:06:28,400 other end. I was actually just looking at 109 00:06:29,080 --> 00:06:33,160 some of the Poly market boards as well, still like a 69% chance 110 00:06:33,440 --> 00:06:37,320 or I'm sorry, 69% probability according to the market that is 111 00:06:37,800 --> 00:06:40,720 that Bitcoin sees a new all time high in 2024. 112 00:06:42,040 --> 00:06:45,120 So I, I, I think I'm right there along alongside that. 113 00:06:45,120 --> 00:06:49,280 I think that feels like a pretty good number with what just over 114 00:06:49,280 --> 00:06:52,200 two months left in the year. I'm ready for all time high. 115 00:06:53,240 --> 00:06:55,680 Do you have a Bitcoin price target for this cycle? 116 00:06:55,680 --> 00:07:00,000 Let's say, let's assume that a a bull cycle plays out along the 117 00:07:00,000 --> 00:07:03,880 lines of the four year kind of historical pattern we've seen. 118 00:07:03,880 --> 00:07:08,400 Do you have a number in mind? I mean, 100,000 just feels so 119 00:07:08,400 --> 00:07:10,760 psychologically important, right? 120 00:07:11,480 --> 00:07:15,280 It's yeah, it's just like that. That's the number that's been 121 00:07:15,280 --> 00:07:17,760 said for what such a long time. And of course there's so many 122 00:07:17,760 --> 00:07:20,240 other targets, the 250 thousands, the, you know, 123 00:07:20,560 --> 00:07:23,040 astronomical targets set by Sailor and others. 124 00:07:23,920 --> 00:07:28,640 But I feel like 100,000 get me there and let's let's see what 125 00:07:28,640 --> 00:07:33,320 happens and see if we can broach that psychologically and and 126 00:07:33,320 --> 00:07:35,040 then, you know, maybe off to the races. 127 00:07:35,960 --> 00:07:38,720 A little conservative. So I'm I'm a little out past you 128 00:07:38,720 --> 00:07:41,480 there. So I think 100K generally is 129 00:07:41,480 --> 00:07:43,400 still my target for for the end of this year. 130 00:07:43,400 --> 00:07:47,080 I think it's doable kind of probably does depend a bit on 131 00:07:47,080 --> 00:07:49,680 the results of the election there. 132 00:07:49,960 --> 00:07:52,680 I think 150K is my target for Bitcoin. 133 00:07:52,680 --> 00:07:54,920 So I'm I'm still on where this goes. 134 00:07:54,920 --> 00:07:58,160 That's the power law number from from the Kruger school thought 135 00:07:58,160 --> 00:08:03,120 is 150K. There's a, there's $1,000,000 in 136 00:08:03,120 --> 00:08:04,640 volume on a market at probably market. 137 00:08:05,880 --> 00:08:11,640 Will Bitcoin hit 250K in 2024? A $1,000,000 in volume, 3%, yes. 138 00:08:12,560 --> 00:08:17,040 So for those who want to extend out a bit further, you want to 139 00:08:17,160 --> 00:08:19,080 take a lottery ticket, There's there's things like that 140 00:08:19,080 --> 00:08:21,200 available. In 2025 or 2024? 141 00:08:21,320 --> 00:08:26,480 2024 so 2 and a half 2 1/2 months to like 4X yeah, that 142 00:08:26,480 --> 00:08:28,720 feels feels a little wild, but yeah. 143 00:08:30,040 --> 00:08:34,840 So maybe some free money on the know besides Bitcoin. 144 00:08:34,840 --> 00:08:40,000 I still I'm still a Solana bull. Solana kind of secretly quietly 145 00:08:40,000 --> 00:08:42,000 is trading it at market cap all time highs. 146 00:08:42,000 --> 00:08:45,160 OV always reminds us that in the group chat because of all the 147 00:08:45,160 --> 00:08:47,480 unlocks and there's a lot of unlocks coming in Q1. 148 00:08:48,320 --> 00:08:54,480 But it really does feel like Solana is the the L1 of the 149 00:08:54,480 --> 00:08:56,480 cycle. I think Suey probably is next 150 00:08:56,480 --> 00:09:00,280 man up there and then Tao is really interesting in the AI 151 00:09:00,280 --> 00:09:03,360 space and we'll talk about some of those transaction that that's 152 00:09:03,360 --> 00:09:09,480 a good seg to this A16Z state of crypto report. 153 00:09:09,720 --> 00:09:13,160 If folks do care about this industry, I, I do encourage you 154 00:09:13,160 --> 00:09:15,480 all just to go through and and read this. 155 00:09:16,680 --> 00:09:18,160 It's a a pretty interesting read. 156 00:09:18,280 --> 00:09:22,320 There's their summary of 2024, which they're calling the 157 00:09:22,320 --> 00:09:27,080 biggest year in crypto yet, and they've outlined their seven key 158 00:09:27,080 --> 00:09:29,560 takeaways, which are all data-driven and they've got some 159 00:09:29,560 --> 00:09:35,720 nice visuals and graphics here backing up all of these here. 160 00:09:35,720 --> 00:09:37,760 Let me see, I'll I'll try to go through them. 161 00:09:37,760 --> 00:09:42,320 So at a high level, the number one is that activity is at all 162 00:09:42,320 --> 00:09:45,600 time high and that they point to walled addresses. 163 00:09:45,600 --> 00:09:47,920 I actually think this is a little bit murky just with all 164 00:09:47,920 --> 00:09:50,840 the bots and AI agents entering crypto. 165 00:09:50,840 --> 00:09:53,200 So I think we need to take that with a grain of salt. 166 00:09:53,200 --> 00:09:56,320 But hard to deny the growth here. 167 00:09:56,320 --> 00:09:58,560 And they're comparing it to the growth of the Internet and and 168 00:09:58,560 --> 00:10:02,320 showing how it's actually in line, if not slightly ahead. 169 00:10:03,160 --> 00:10:05,080 So that's their their starter take away. 170 00:10:05,400 --> 00:10:08,600 They go on to talk about politics and how crypto has 171 00:10:08,600 --> 00:10:13,400 become a key political issue ahead of the US election and how 172 00:10:13,400 --> 00:10:16,240 much it's grown in some swing states. 173 00:10:16,240 --> 00:10:18,080 I don't think that's a surprise to anyone. 174 00:10:18,400 --> 00:10:20,800 But, you know, taking a look back on this year from the 175 00:10:20,800 --> 00:10:24,000 outside, that certainly is a really important theme and 176 00:10:24,000 --> 00:10:26,440 perhaps one that we didn't see coming. 177 00:10:26,600 --> 00:10:31,240 The increased politicalization of crypto stablecoins. 178 00:10:31,280 --> 00:10:34,440 I mean, stablecoins is a boring topic, but it really does feel 179 00:10:34,440 --> 00:10:38,760 like perhaps the biggest take away of the year is the 180 00:10:38,760 --> 00:10:42,560 increasing globalization, the increasing rise in usage, 181 00:10:42,560 --> 00:10:46,560 adoption everywhere. More and more big players are 182 00:10:46,560 --> 00:10:50,160 getting into this game and it feels like stablecoins have 183 00:10:50,160 --> 00:10:54,240 certainly found a massive product market fit here in 184 00:10:54,240 --> 00:10:56,520 crypto. A few others kind of going 185 00:10:56,520 --> 00:10:59,400 through the rest of the list infrastructure improvements. 186 00:10:59,680 --> 00:11:02,400 I think that's kind of par for the course with with as much 187 00:11:02,400 --> 00:11:05,840 focus on infrastructure as as we have, you know, I think it'd be 188 00:11:05,840 --> 00:11:08,720 more surprising if we're not having, you know, yearly growth 189 00:11:08,720 --> 00:11:11,720 there. Defy remaining popular. 190 00:11:12,440 --> 00:11:16,800 I think for folks who are in the the crypto streets, you know, 191 00:11:16,800 --> 00:11:19,640 being able to do things with it earned yield. 192 00:11:19,760 --> 00:11:21,920 Linda guess it that that's never going to go away. 193 00:11:22,000 --> 00:11:26,560 So I think defy a core pillar of crypto at this point. 194 00:11:26,960 --> 00:11:30,040 AI is an interesting new one on their list. 195 00:11:30,040 --> 00:11:33,920 Crypto could solve some of a is most pressing challenges. 196 00:11:33,920 --> 00:11:37,560 They're talking a bit about the intersection here and perhaps 197 00:11:37,560 --> 00:11:41,760 we'll we'll get into that and then more scalable infra as they 198 00:11:41,760 --> 00:11:44,480 look to create more on chain applications. 199 00:11:44,480 --> 00:11:47,120 This gets a little bit more into that consumer crypto buzzword 200 00:11:47,600 --> 00:11:49,320 that so many of us have been talking about. 201 00:11:49,320 --> 00:11:51,680 So that that's a quick rundown of this. 202 00:11:52,680 --> 00:11:54,960 We'll go into more detail about Logan, Curious for any reactions 203 00:11:54,960 --> 00:11:56,800 you have. Or perhaps you know, Part 2 of 204 00:11:56,800 --> 00:11:59,760 that question. What should you which of these 7 205 00:11:59,760 --> 00:12:01,800 takeaways do you feel like is the the most important? 206 00:12:02,560 --> 00:12:06,040 Yeah, a few high level from my perspective, the activity and 207 00:12:06,040 --> 00:12:08,280 usage at all time highs, you know, of course the number one 208 00:12:08,280 --> 00:12:12,360 take away here, just seeing that alongside the Internet growth, 209 00:12:12,360 --> 00:12:16,760 you know, which I wasn't, you know, paying attention. 210 00:12:16,760 --> 00:12:19,000 Of course, I was a very small child, wasn't paying attention 211 00:12:19,440 --> 00:12:22,120 to the growth of the Internet and wasn't around to understand 212 00:12:22,120 --> 00:12:24,320 that. So it's difficult for me to 213 00:12:24,320 --> 00:12:27,200 fathom that this industry that we're participating in every 214 00:12:27,200 --> 00:12:30,280 single day is actually growing as fast as it is. 215 00:12:30,640 --> 00:12:34,360 And then secondly, you know, you mentioned the some murkiness 216 00:12:34,360 --> 00:12:37,680 right in the numbers and A16Z does a great job of explaining 217 00:12:37,840 --> 00:12:41,040 exactly that there. You know, there is some, some 218 00:12:41,040 --> 00:12:44,680 conflict and how they come and, and arrive to this number, but 219 00:12:44,680 --> 00:12:46,680 they do break it down. There's actually a a separate 220 00:12:46,680 --> 00:12:49,280 article that breaks down the, the address growth and stuff, 221 00:12:50,000 --> 00:12:52,840 but 220 million, even when you get down to the 30 to 60 222 00:12:52,840 --> 00:12:55,960 million, which they believe are real people making those monthly 223 00:12:55,960 --> 00:12:58,760 transactions. That just seems wild to me, 224 00:12:58,800 --> 00:13:02,600 right? Like I, that seemed high and you 225 00:13:02,600 --> 00:13:05,240 know, I hope it's as accurate as it could possibly be, right, 226 00:13:05,240 --> 00:13:08,920 with all those caveats in there. But that gives me some cautious 227 00:13:08,920 --> 00:13:11,720 optimism, you know, about how many people are actually 228 00:13:11,720 --> 00:13:15,520 interacting here, how big this market actually is, even though 229 00:13:15,520 --> 00:13:19,920 from time to time or maybe every day, right, it feels so small, 230 00:13:20,120 --> 00:13:24,000 like this is a much bigger deal than we actually think it is. 231 00:13:24,000 --> 00:13:26,440 So I think those are some of the takeaways for me that just kind 232 00:13:26,440 --> 00:13:30,680 of, you know, reaffirm why we're here, why we're making the bets 233 00:13:30,680 --> 00:13:32,600 that we're making. Make you feel a little bit 234 00:13:32,600 --> 00:13:34,160 better. Some confirmation bias, if you 235 00:13:34,160 --> 00:13:37,000 will. I'm reminded a lot of how small 236 00:13:37,400 --> 00:13:40,800 our crypto Twitter bubble is compared to all of crypto. 237 00:13:40,800 --> 00:13:43,040 I think conferences are always a good reminder of that. 238 00:13:43,040 --> 00:13:47,760 Like Bitcoin Nashville boots on the ground there, I'd say just, 239 00:13:48,040 --> 00:13:50,840 you know, finger in the air swag estimate less than 5% of those 240 00:13:50,840 --> 00:13:54,240 folks are are probably like showing up and and interacting 241 00:13:54,480 --> 00:13:56,920 in what we consider crypto Twitter on a daily basis, let 242 00:13:56,920 --> 00:13:59,960 alone all the folks who are employed in this industry. 243 00:14:00,520 --> 00:14:01,640 So I I would agree with you there. 244 00:14:01,920 --> 00:14:06,560 I guess Logan any like any worrisome takeaways or or any 245 00:14:06,560 --> 00:14:09,440 perhaps you know negative takes on any of these 7? 246 00:14:09,960 --> 00:14:13,080 Yeah, interesting. I, I read this with such a, a, a 247 00:14:13,840 --> 00:14:17,560 hopium that I, I probably didn't have any immediate worrisome 248 00:14:17,560 --> 00:14:19,480 stuff. I guess one of the things 249 00:14:19,480 --> 00:14:22,840 particularly for us is if you Scroll down into, yeah, of 250 00:14:22,840 --> 00:14:25,360 course the, the political stuff. But if you Scroll down into like 251 00:14:25,360 --> 00:14:28,720 the builder activity and, and the types of categories people 252 00:14:28,720 --> 00:14:32,600 are building in saw a decline in some of the NFT infrastructure. 253 00:14:32,600 --> 00:14:36,120 I mean, that's where I grew up in this, in this ecosystem, 254 00:14:36,120 --> 00:14:37,600 right? I kind of came through the NFT 255 00:14:37,600 --> 00:14:39,160 stuff. Yeah. 256 00:14:39,160 --> 00:14:42,400 And that that 4.4% actually I think is a decrease year over 257 00:14:42,400 --> 00:14:44,280 year. So some of those things, you 258 00:14:44,280 --> 00:14:46,760 know, like I don't want necessarily want to say 259 00:14:46,760 --> 00:14:50,080 worrisome in the sense that like I, I'm concerned about the 260 00:14:50,080 --> 00:14:52,600 future of NFTS. You see 8 1/2 percent of builder 261 00:14:52,600 --> 00:14:54,760 activity last year, 4.4% this year. 262 00:14:55,880 --> 00:14:58,600 But that that is something that, you know, a technology and an 263 00:14:58,600 --> 00:15:01,520 interest for myself. And I'm perhaps many of those 264 00:15:01,520 --> 00:15:04,960 watching this show that seeing a a little bit less builder 265 00:15:04,960 --> 00:15:07,040 activity and interest and innovation in. 266 00:15:07,400 --> 00:15:09,440 So that's something that's a a little worrisome, not 267 00:15:09,440 --> 00:15:12,520 necessarily for the full state of crypto, but just for, you 268 00:15:12,520 --> 00:15:15,240 know, my particular interests and perhaps the interests of the 269 00:15:15,240 --> 00:15:17,480 demographic that's consuming this type of content. 270 00:15:18,280 --> 00:15:21,400 But otherwise, Tyler, yeah, I read this with a a lot of opium. 271 00:15:21,400 --> 00:15:24,440 The, the political stuff is always there as a, as a 272 00:15:24,440 --> 00:15:27,560 worrisome thing just because the, the more that it is in 273 00:15:27,560 --> 00:15:31,520 focus, you know, I think we're expecting and hoping for more 274 00:15:31,520 --> 00:15:34,880 clarity and, and, you know, just more regulatory frameworks so 275 00:15:34,880 --> 00:15:37,840 that it can continue to exist and thrive and grow. 276 00:15:38,120 --> 00:15:40,000 But of course, there's always that like in the back of your 277 00:15:40,000 --> 00:15:42,800 head, you know, that that regulatory stuff could also 278 00:15:43,080 --> 00:15:45,760 hinder growth. And there's some some 279 00:15:45,760 --> 00:15:48,960 demographic data in here as well that showcases that the United 280 00:15:48,960 --> 00:15:51,960 States is such a massive player here that, you know, you need 281 00:15:51,960 --> 00:15:56,920 that regulatory stuff to be at least neutral, you know, for, 282 00:15:56,920 --> 00:16:00,080 for growth. I I'm with you there and thank 283 00:16:00,080 --> 00:16:01,480 you. You point out this, this builder 284 00:16:01,480 --> 00:16:02,680 desperate. I actually had missed this. 285 00:16:02,680 --> 00:16:05,080 So folks, I definitely encourage you to check this out. 286 00:16:05,080 --> 00:16:08,160 There's some really cool visuals here in this builder 287 00:16:08,160 --> 00:16:14,840 energy.a16crypto.com As for the the yeah, the political take 288 00:16:14,840 --> 00:16:18,120 away was my more worrisome, but I've shared my thoughts on that. 289 00:16:18,120 --> 00:16:20,920 We don't need to repeat it. I want to talk about a few 290 00:16:20,920 --> 00:16:23,440 takeaways from this dashboard, because this thing is. 291 00:16:24,080 --> 00:16:25,240 Is awesome. Sweet. 292 00:16:25,560 --> 00:16:28,920 So starting with builder interest by blockchain, I think 293 00:16:28,920 --> 00:16:32,400 what jumps out to me here is just the Ethereum dominance. 294 00:16:32,400 --> 00:16:40,080 So it's ETH and then ETH al twos are what 8080% of the of what's 295 00:16:40,080 --> 00:16:45,880 of what builders are focused on right now with Solana at 11 and 296 00:16:45,880 --> 00:16:48,800 Bitcoin at four. One thing that doesn't talk 297 00:16:48,800 --> 00:16:52,920 about about Solana, if you talk of the years, Solana was just 5% 298 00:16:53,160 --> 00:16:56,480 last year. So it has more than doubled in 299 00:16:56,480 --> 00:16:59,440 builder interest on the year, which is notable and I wouldn't 300 00:16:59,440 --> 00:17:03,720 be surprised to see that circle grow into next year. 301 00:17:04,200 --> 00:17:07,760 I will say what people are building was perhaps a little 302 00:17:07,760 --> 00:17:11,400 disappointing, I guess not a surprise though, right. 303 00:17:11,720 --> 00:17:17,520 So D5 a quarter, 25% infra and 19%, but actually infra picks 304 00:17:17,520 --> 00:17:22,280 and shovels, wallets gets you closer to 40%. 305 00:17:22,640 --> 00:17:29,160 NFTS are down Depend at 6%, what was depend last year, that's got 306 00:17:29,160 --> 00:17:31,920 to be up quite a bit more. So let's talk about 6%. 307 00:17:33,320 --> 00:17:35,240 Any takeaways from you on the category? 308 00:17:35,240 --> 00:17:37,760 I know you kind of went into this all year within a. 309 00:17:38,600 --> 00:17:41,880 Yeah, category stuff. I had the same sort of take 310 00:17:41,880 --> 00:17:44,600 away, Tyler, you know, as somebody who's using some more 311 00:17:44,600 --> 00:17:48,840 of the, the consumer focused stuff, the NFT type stuff that 312 00:17:48,840 --> 00:17:53,120 is a little not, not concerning, but it's just, you know, you 313 00:17:53,120 --> 00:17:55,960 know, I wish, I want to see more builder activity in some of 314 00:17:55,960 --> 00:17:58,520 those more socially focused consumer focused things. 315 00:17:58,520 --> 00:18:00,000 And perhaps that's next year's right. 316 00:18:00,000 --> 00:18:02,480 You have things like abstract and many others that are really, 317 00:18:02,480 --> 00:18:05,840 really trying to focus on consumers and actual use cases 318 00:18:06,280 --> 00:18:08,640 beyond the the hyper financialized stuff. 319 00:18:08,640 --> 00:18:11,360 So that was one thing. The the above though, the 320 00:18:11,360 --> 00:18:14,120 blockchain stuff, the builder energy, of course, this is being 321 00:18:14,120 --> 00:18:17,320 built. This data is A16Z indicates this 322 00:18:17,320 --> 00:18:20,200 is proprietary data, right? They're using their connections 323 00:18:20,200 --> 00:18:23,720 to the space, their investment in the space to drive this 324 00:18:23,720 --> 00:18:25,800 information. And of course, you know, we know 325 00:18:25,800 --> 00:18:27,480 they're leading all the biggest phrases. 326 00:18:28,000 --> 00:18:31,400 Who better to show us where the future is going to be at least 327 00:18:31,400 --> 00:18:34,400 built in the near term? And so this, this was awesome to 328 00:18:34,400 --> 00:18:36,800 me to see Salon as growth. Of course, that corresponds to 329 00:18:36,800 --> 00:18:39,320 our activity every single day on the chain, right? 330 00:18:39,320 --> 00:18:42,200 Like that is where things are happening most, or at least 331 00:18:42,200 --> 00:18:43,720 that's where it feels things are happening most. 332 00:18:44,080 --> 00:18:47,400 So no, no shock to see it there. But I think this might be, you 333 00:18:47,400 --> 00:18:49,000 know, if you're someone out there who's looking to 334 00:18:49,000 --> 00:18:51,480 participate in different ways, you know, you think there's a 335 00:18:51,480 --> 00:18:54,560 massive bowl that's going to extend beyond chains into a 336 00:18:54,560 --> 00:18:59,080 really robust, you know, just macro crypto bull run. 337 00:18:59,640 --> 00:19:01,960 Take a look at some of these that are getting in that 456 338 00:19:01,960 --> 00:19:05,600 percent. They may be your 1012% next 339 00:19:05,600 --> 00:19:08,200 year. Yeah, AVAX was one that was off 340 00:19:08,200 --> 00:19:10,400 the top of my head. It was like, OK, you know, we've 341 00:19:10,400 --> 00:19:13,560 talked about them arbitrum, of course base, like those types of 342 00:19:13,560 --> 00:19:16,680 things that have grown year over year. 343 00:19:16,720 --> 00:19:18,840 You know, they may be the winners next year and you could, 344 00:19:18,960 --> 00:19:22,680 you know, maybe not have the same multiple of of hey, if you 345 00:19:22,680 --> 00:19:27,080 were at the $8 Solana into the 150 sixty whatever dollar 346 00:19:27,080 --> 00:19:28,880 Solana. But you know, maybe you're in 347 00:19:28,880 --> 00:19:32,600 the ground floor of an ecosystem that's about to double or triple 348 00:19:32,720 --> 00:19:34,400 over the next year. And there's some there's some 349 00:19:34,400 --> 00:19:35,960 probably real opportunity in those. 350 00:19:35,960 --> 00:19:37,960 So that was really exciting to me to see this. 351 00:19:37,960 --> 00:19:40,200 This is really really cool data and information to be able to 352 00:19:40,200 --> 00:19:42,800 just play with. I'm with you I, I was surprised 353 00:19:42,800 --> 00:19:45,880 not to see Sui on this map. So we're curious if Sui will be 354 00:19:45,880 --> 00:19:47,600 on there as like the next man up. 355 00:19:47,840 --> 00:19:52,120 My last take away, they have a nice geographical map here. 356 00:19:52,120 --> 00:19:55,160 So 40% of builders are in the US. 357 00:19:55,920 --> 00:19:58,960 So there's a lot of rhetoric out there, you know, saying how hard 358 00:19:58,960 --> 00:20:02,680 it is for builders in the US and clearly it's still a substantial 359 00:20:02,960 --> 00:20:05,400 component. So good data go check this out 360 00:20:05,400 --> 00:20:07,840 if you haven't already. That's going to sum up our. 361 00:20:08,320 --> 00:20:11,560 Macro update let's go down the the risk curve a little bit 362 00:20:11,560 --> 00:20:14,440 let's start talking memes so I think the breaking news here 363 00:20:14,440 --> 00:20:19,520 this morning is Jupiter has officially introduced AP Jupiter 364 00:20:19,520 --> 00:20:24,400 as its meme coin terminal. I think it's AP dot Pro is the 365 00:20:24,400 --> 00:20:28,760 address real time streaming of new tokens, advanced data and 366 00:20:28,760 --> 00:20:31,240 charts, optimized Med protection. 367 00:20:31,240 --> 00:20:35,600 It it looks like I mean, Jupiter is is kind of going to be the 368 00:20:35,600 --> 00:20:37,480 whole universe one stop shop, right? 369 00:20:38,560 --> 00:20:41,440 You're not going to even need to use that many of the other apps. 370 00:20:41,440 --> 00:20:43,320 You're going to be able to do everything in Jupiter. 371 00:20:43,320 --> 00:20:46,560 They have the new mobile app. We we showed the integration 372 00:20:46,840 --> 00:20:49,400 where you can just kind of click their their logo now on 373 00:20:49,400 --> 00:20:53,120 different sites and and start to trade right in there. 374 00:20:53,120 --> 00:20:55,320 So clearly they're they're leaning in. 375 00:20:56,040 --> 00:20:59,080 So so shout out to to Jupiter. I'm excited to try to test this 376 00:20:59,080 --> 00:21:00,240 out. Didn't have really a chance 377 00:21:00,520 --> 00:21:04,680 before the show. As for that the meme coin board, 378 00:21:05,440 --> 00:21:09,040 I guess we can start with go it it it is the the biggest story 379 00:21:09,360 --> 00:21:11,800 in memes. Last night before I was getting 380 00:21:11,800 --> 00:21:13,960 ready for bed this thing hit 360 million. 381 00:21:14,200 --> 00:21:18,080 I'm seeing what 375,000,000 at peak did. 382 00:21:18,080 --> 00:21:20,840 Did you chip any off there low gear or are you holding from the 383 00:21:20,840 --> 00:21:22,640 room? I should have probably chipped 384 00:21:22,640 --> 00:21:24,640 some off. I did not. 385 00:21:24,720 --> 00:21:28,160 No, I was watching some playoff baseball last night. 386 00:21:29,080 --> 00:21:31,440 The WNBA game was excellent as well last night. 387 00:21:31,880 --> 00:21:34,880 But yeah, you know, I'm feeling I mentioned on the show 388 00:21:34,880 --> 00:21:38,920 yesterday I sold about half my bag at around 125 million, which 389 00:21:38,920 --> 00:21:42,360 of course looks very silly now. And this, this last bit, you 390 00:21:42,360 --> 00:21:44,800 know, I'm kind of bought into this narrative, so I'm OK 391 00:21:44,800 --> 00:21:47,840 withholding. I said, you know, a billion 392 00:21:47,840 --> 00:21:50,680 Billy goat, right? That type of thing feels. 393 00:21:50,720 --> 00:21:53,280 And I don't want to say program nothing is financial advice 394 00:21:53,280 --> 00:21:56,320 here, of course, but that's the kind of the target that I've got 395 00:21:56,320 --> 00:21:57,440 in the back of my head right now. 396 00:21:57,440 --> 00:21:59,480 So I did not chip any off last night. 397 00:22:00,040 --> 00:22:02,960 Yeah, and, and rightfully so. I mean, all the dips on this 398 00:22:02,960 --> 00:22:05,640 thing are just getting eaten so. Fast. 399 00:22:05,800 --> 00:22:09,680 It's, it's wild, yeah. I mean it, it got down to 200 at 400 00:22:09,680 --> 00:22:12,240 some point yesterday, maybe a little bit below and then, you 401 00:22:12,240 --> 00:22:16,960 know, in 1520 minutes you look back up and it's 275-280-5300 402 00:22:16,960 --> 00:22:18,160 these. Candles are absurd. 403 00:22:18,800 --> 00:22:21,440 And then Arkham Intel picked it up yesterday even though they 404 00:22:21,440 --> 00:22:22,880 didn't really have their facts straight. 405 00:22:22,880 --> 00:22:25,160 People have been flooding. It doesn't really seem to 406 00:22:25,160 --> 00:22:27,440 matter. I think that this this thing is, 407 00:22:27,440 --> 00:22:30,280 is bigger than the FUD at this point. 408 00:22:30,320 --> 00:22:32,720 You know, we'll see now it's in the it's basically gotten to 409 00:22:32,720 --> 00:22:35,320 where Mudang got at peak. We'll see if it's able to to get 410 00:22:35,320 --> 00:22:38,480 past 400. I think that's going to be a key 411 00:22:38,480 --> 00:22:41,640 level. We we saw some other runners. 412 00:22:41,640 --> 00:22:46,840 So Wyack out of nowhere, arguably that the biggest winner 413 00:22:46,840 --> 00:22:50,640 of the day at 270%. I haven't personally dug into 414 00:22:50,640 --> 00:22:51,600 this. I have a buddy who's been 415 00:22:51,600 --> 00:22:53,760 tracking this closely. It looks like a couple wallets, 416 00:22:53,760 --> 00:22:57,640 perhaps even the same person, shoved 1.5 million into this 417 00:22:57,640 --> 00:22:59,000 thing. So. 418 00:22:59,000 --> 00:23:03,320 So they are a big driver of this absurd candle that you see here 419 00:23:03,320 --> 00:23:06,240 on the day. So I'm happy to learn a little 420 00:23:06,240 --> 00:23:10,120 bit more about their intentions. This this should be at all time 421 00:23:10,120 --> 00:23:11,680 high. I think you're supposed to this. 422 00:23:11,680 --> 00:23:12,280 Yeah. Yeah. 423 00:23:12,280 --> 00:23:18,480 Back when we had when we had the woman on the show, that was back 424 00:23:18,480 --> 00:23:22,120 in, yeah, summertime, early summer, right around when it 425 00:23:22,120 --> 00:23:23,480 peaked. And then, of course, you know, 426 00:23:23,560 --> 00:23:25,040 several memes had the same chart. 427 00:23:25,560 --> 00:23:29,160 It started to rally up back to 510 and I had some friends get 428 00:23:29,160 --> 00:23:30,600 back in. I never got back in on this, 429 00:23:30,880 --> 00:23:34,080 much to my chagrin. So this thing is wow, this 430 00:23:34,080 --> 00:23:36,560 thing, How high did it Wick? Oh my goodness, I didn't even 431 00:23:36,560 --> 00:23:38,280 see. The Wick I never owned. 432 00:23:38,280 --> 00:23:43,240 This one Wick to 60. Wow, So so quite the Wick to 433 00:23:43,240 --> 00:23:47,120 fill there for Wyack. Shout out to those who who held 434 00:23:47,120 --> 00:23:51,320 through the the downturn. Going across the rest of the 435 00:23:51,320 --> 00:23:53,080 board. We'll take a look at the Maraud 436 00:23:53,080 --> 00:23:54,640 board. It looks like it's starting to 437 00:23:54,640 --> 00:23:58,920 flip green here. So we, we, we love to see that 438 00:23:58,960 --> 00:24:03,040 almost universally green. My one of my core thesis is that 439 00:24:03,040 --> 00:24:05,560 the moron list might, might trade like the old art blocks 440 00:24:05,560 --> 00:24:09,680 curated where we see the pull backs Monday to Wednesday run 441 00:24:09,680 --> 00:24:11,200 into the weekend Thursday to Sunday. 442 00:24:11,200 --> 00:24:14,600 Perhaps we are starting to see that it's going to depend on 443 00:24:14,600 --> 00:24:16,760 Popcat and I think it's largely going to depend on some of the 444 00:24:16,760 --> 00:24:19,520 mean majors as well. Like I think we need with to run 445 00:24:19,520 --> 00:24:22,440 for Popcat to really move up to 1.5. 446 00:24:22,760 --> 00:24:26,440 If Popcat goes to 1.5, I think we see some big movements across 447 00:24:26,440 --> 00:24:29,440 the board. Did you, did you catch the 448 00:24:29,440 --> 00:24:33,520 Rasmer investigation research thing yesterday? 449 00:24:33,520 --> 00:24:35,920 Did you catch that? The the boots on the ground 450 00:24:35,960 --> 00:24:39,840 pulling everyone with the. Yeah, 293 people or something. 451 00:24:40,240 --> 00:24:43,280 I didn't watch the entire video. I saw that MU Dang was like the, 452 00:24:43,600 --> 00:24:47,120 I think the winner, but I saw some of the takeaways that he 453 00:24:47,120 --> 00:24:49,560 had shared afterwards. And Full disclosure, I did not 454 00:24:49,560 --> 00:24:51,920 watch the video, so I can't be certain he wasn't trolling or 455 00:24:51,920 --> 00:24:54,840 something. But I saw some mention of USA 456 00:24:54,840 --> 00:24:58,920 Coin being, yeah, like being highlighted a couple times by 457 00:24:59,200 --> 00:25:01,240 that's one that I can totally understand. 458 00:25:01,920 --> 00:25:04,680 You know, it falls right into that like Zen level category for 459 00:25:04,680 --> 00:25:08,200 me where like, I understand the potential, you know, the word 460 00:25:08,200 --> 00:25:10,080 cult's being used a lot here recently. 461 00:25:10,560 --> 00:25:12,880 I understand the potential cultishness behind. 462 00:25:13,000 --> 00:25:16,320 That's probably not a word behind like AUSA coin. 463 00:25:16,320 --> 00:25:17,400 That one makes a lot of sense to me. 464 00:25:17,520 --> 00:25:22,080 Again, never owned it. I do own some Zen, but I I get 465 00:25:22,080 --> 00:25:24,120 that one, some of these other ones on the list. 466 00:25:24,120 --> 00:25:26,920 I mean, it's just I'm not fighting Maraud at all. 467 00:25:26,960 --> 00:25:29,440 I loved his performance on the show last week. 468 00:25:29,560 --> 00:25:31,720 He seems like a crazy evil genius. 469 00:25:31,880 --> 00:25:33,720 Not evil, but, you know, crazy genius. 470 00:25:34,160 --> 00:25:37,640 Hopefully not evil. Yeah, hopefully not evil, but 471 00:25:37,640 --> 00:25:41,600 yeah, that's the one of this list which I actually don't own 472 00:25:41,600 --> 00:25:45,000 any of at this point in time, which feels very silly, right, 473 00:25:45,000 --> 00:25:49,600 To not own. It yes, the American one rotate. 474 00:25:49,600 --> 00:25:52,800 Some of the. Log get some. 475 00:25:53,040 --> 00:25:56,680 It's something on the list. I've loved Mog for a long time. 476 00:25:56,680 --> 00:26:00,200 You know, we talked about it around 250 million maybe even 477 00:26:00,200 --> 00:26:02,720 before and I mentioned that that would be the one that I would 478 00:26:02,720 --> 00:26:06,280 buy and I just never bought it. I did have AI had a Popcap bag 479 00:26:06,280 --> 00:26:09,200 that I eventually sold off. Same. 480 00:26:09,480 --> 00:26:12,920 For a nice mini such. Tails, thank you. 481 00:26:13,120 --> 00:26:14,960 Thank you for for calling out USA. 482 00:26:15,080 --> 00:26:19,400 It is one of my larger bags. I have to disclose that my 483 00:26:19,400 --> 00:26:24,480 thesis is that all the the Polyphi, all the single 484 00:26:24,480 --> 00:26:26,040 political coins are going to go away. 485 00:26:26,400 --> 00:26:33,920 But USA people still love USA and it's on the Maraud list. 486 00:26:33,920 --> 00:26:36,360 It was the lowest. I think my house is because it's 487 00:26:36,360 --> 00:26:38,720 not going to, it's not going to remain the the lowest. 488 00:26:39,200 --> 00:26:44,000 A Trump, a Trump victory, which it seems increasingly likely 489 00:26:44,520 --> 00:26:48,240 feels like such a great catalyst for AUSA coin, right? 490 00:26:48,240 --> 00:26:50,120 And of course, there's the MAGA stuff. 491 00:26:50,120 --> 00:26:55,280 But like, everybody, you know, MAGA has like, people don't like 492 00:26:55,280 --> 00:26:56,440 that. Some people don't like that, you 493 00:26:56,440 --> 00:26:58,440 know, like half the country doesn't really like that. 494 00:26:59,200 --> 00:27:01,600 The country likes USA. It can get behind USA. 495 00:27:01,600 --> 00:27:04,320 You imagine if we have a, a New York, NY World Series. 496 00:27:04,320 --> 00:27:06,480 I mean, there's so many things coming up USA. 497 00:27:07,000 --> 00:27:09,440 But there really are great, great reference there. 498 00:27:09,840 --> 00:27:12,560 A couple other things. USA is still far off all time 499 00:27:12,560 --> 00:27:16,480 highs from the big polyfi rage and then unit bias. 500 00:27:17,280 --> 00:27:20,880 A lot of the hot coins are now close to like $0.10 or at a 501 00:27:20,880 --> 00:27:23,720 dollar like Popcat. This is one where you can pick 502 00:27:23,720 --> 00:27:27,320 up, you know, a billion tokens and then just what if it goes to 503 00:27:27,320 --> 00:27:30,680 a dollar type thing, which you can't a whole lot of other coins 504 00:27:30,680 --> 00:27:33,720 on the list. So enough of my bag pumping 505 00:27:33,720 --> 00:27:36,600 here. Circle was another one kind of 506 00:27:36,600 --> 00:27:39,120 came out of nowhere. I thought circle was dead. 507 00:27:39,840 --> 00:27:41,560 I think you picked this up at at a million. 508 00:27:41,560 --> 00:27:44,680 It went back to 15 or so. So it's still a lot. 509 00:27:44,680 --> 00:27:47,560 Any reason why this thing is pumping? 510 00:27:48,520 --> 00:27:50,440 I couldn't tell you why it's pumping. 511 00:27:50,440 --> 00:27:55,000 I had been seeing it on my timeline for I don't know why, 512 00:27:55,000 --> 00:27:57,360 but it just like kept showing up and then I probably like 513 00:27:57,360 --> 00:27:59,560 interacted with a post or something and then I just kept 514 00:27:59,560 --> 00:28:03,400 getting fed more circle stuff. I think what upon the people 515 00:28:03,400 --> 00:28:06,720 every day that ran to like 13 or 14,000,000 maybe overnight. 516 00:28:07,880 --> 00:28:10,520 And when I refreshed and looked at it for the first time, I 517 00:28:10,520 --> 00:28:12,560 didn't purchase on the initial run up, it was at like 518 00:28:12,560 --> 00:28:16,080 1,000,000. It retraced nearly all the way. 519 00:28:17,360 --> 00:28:19,680 Yeah. And you know, I don't know why, 520 00:28:19,680 --> 00:28:21,120 Tyler. I just kept seeing it and I was 521 00:28:21,120 --> 00:28:23,320 like 1,000,000. I'm going to take a small bet 522 00:28:23,320 --> 00:28:26,920 here. Perhaps the the influx of art on 523 00:28:26,920 --> 00:28:29,440 on shape and we'll we'll we'll come back to that here in a 524 00:28:29,440 --> 00:28:33,360 second, but shape has still had a flurry of activity. 525 00:28:33,360 --> 00:28:36,960 So shout out to circle holders. Nice little comeback for you. 526 00:28:37,400 --> 00:28:39,360 Some actually on the rooms board as well. 527 00:28:39,360 --> 00:28:43,800 I got quickly hit this so billion dollar cat was a top 528 00:28:43,800 --> 00:28:46,000 story yesterday. It hit 100 million in a new all 529 00:28:46,000 --> 00:28:48,280 time high. It's hanging out at 92 right 530 00:28:48,280 --> 00:28:50,760 now. Red cat Romeo was a big mover. 531 00:28:50,760 --> 00:28:53,520 Apparently that is the cat of a magic Eden founder. 532 00:28:53,760 --> 00:28:56,640 So any pet tied to any founder is going to have some kind of a 533 00:28:56,640 --> 00:28:59,080 pump. So that was moving last night 10 534 00:28:59,080 --> 00:29:03,320 Bitcoin volume, nothing to sneeze at and then puka was the 535 00:29:03,320 --> 00:29:07,920 the big mover last night. This thing was had 600 pending 536 00:29:07,920 --> 00:29:11,240 transactions at 1.25 Bitcoin volume. 537 00:29:11,240 --> 00:29:14,920 So clearly the number one mover. It's up to the $3,000,000 market 538 00:29:14,920 --> 00:29:16,320 cap. I've seen mixed stories. 539 00:29:16,320 --> 00:29:21,400 So I think this is tied to OMB. Perhaps ZK's dog, another weird 540 00:29:21,400 --> 00:29:25,000 pet tie in. I think it was a gas war to mint 541 00:29:25,000 --> 00:29:26,080 this. So as I understand, people who 542 00:29:26,080 --> 00:29:29,640 are minting this runes were minting it at close to a 2 or 543 00:29:29,640 --> 00:29:32,720 $3,000,000 market cap. At least some of them were. 544 00:29:33,480 --> 00:29:35,720 So this is going to be perhaps a new one to watch. 545 00:29:35,720 --> 00:29:38,480 Gizmo at 16,000,000. I think the the wild card for 546 00:29:38,480 --> 00:29:40,320 Gizmo is that ornals met later today. 547 00:29:40,640 --> 00:29:44,680 So we will see how that potentially impacts the runes 548 00:29:45,720 --> 00:29:49,200 interestingly. So RSIRSIC growing up a bit dog 549 00:29:49,200 --> 00:29:52,080 hanging out at 550 million. So it's really up there. 550 00:29:52,400 --> 00:29:56,080 Pups has had a rough week here, down 10% at 1:30. 551 00:29:56,880 --> 00:30:00,560 So we will see if and when that starts to turn around. 552 00:30:00,720 --> 00:30:03,960 Well, we we talked about what might be pumping circle and it 553 00:30:03,960 --> 00:30:06,360 was a big day in art across the board. 554 00:30:06,600 --> 00:30:11,520 So switching over to NFTS and digital art, 45 major artists 555 00:30:11,520 --> 00:30:14,440 had dropped yesterday. So Gremplin did this ticker 556 00:30:14,440 --> 00:30:20,080 treat drop on base, did 50,000 mints on on this thing. 557 00:30:20,840 --> 00:30:23,520 So, so quite a lot of demand though it was it was pretty much 558 00:30:23,520 --> 00:30:29,400 free .000666 E. We also saw OX death beat. 559 00:30:29,520 --> 00:30:33,280 He had to shut down his movable type net. 560 00:30:33,680 --> 00:30:36,840 Over 100,000 of these were minted on on shape. 561 00:30:36,840 --> 00:30:39,920 So perhaps this was what what drove some of the action over on 562 00:30:39,920 --> 00:30:42,280 shape. We had our blocks curated back 563 00:30:42,280 --> 00:30:47,480 with their first new fidgetal drop from MP cause Boca where 564 00:30:47,480 --> 00:30:52,160 you you can get these lamps, sculptures, lighting, digital 565 00:30:52,160 --> 00:30:55,840 works and they come along with the digital NFT as well. 566 00:30:55,840 --> 00:30:59,920 This was just the 1st 20. There will be a a 300 piece sale 567 00:31:00,240 --> 00:31:02,800 on the 21st. I think that is Monday. 568 00:31:03,560 --> 00:31:06,480 And then rounding this out, we saw die with the most likes sell 569 00:31:06,480 --> 00:31:10,720 his noble pep base card at point O69 ETH in a gas war and that 570 00:31:10,720 --> 00:31:15,360 immediately ran to .469 Logan. Curious to any reactions on your 571 00:31:15,360 --> 00:31:17,800 side on the art drops. What perhaps what was your 572 00:31:17,800 --> 00:31:19,520 favorite or or surprise of the day? 573 00:31:20,040 --> 00:31:23,640 Oh, favorite. I love deaf beef, the work that 574 00:31:23,640 --> 00:31:26,640 he does, the innovation. So that that's a really cool 1. 575 00:31:26,640 --> 00:31:30,680 I actually did not participate. I don't really know why I didn't 576 00:31:30,680 --> 00:31:32,520 participate, but I I think that was a really cool one. 577 00:31:32,960 --> 00:31:36,640 Lots of innovation in the in the work that he does, but gremlin, 578 00:31:36,640 --> 00:31:39,600 it's tough not to love gremlin in the style that Gremlin does. 579 00:31:40,560 --> 00:31:44,760 Those are really, really great. Shout out toads a relic at this 580 00:31:44,760 --> 00:31:49,120 point. So, so cool to see Gremlin back 581 00:31:49,120 --> 00:31:50,880 in in the streets. It was, it was just a good 582 00:31:50,880 --> 00:31:56,000 positive day of art, you know, So that's, that's awesome to 583 00:31:56,000 --> 00:31:57,440 see. Quickly, do you? 584 00:31:57,440 --> 00:32:01,320 There's been a lot of talk about meme meme and a tease and cults. 585 00:32:01,320 --> 00:32:04,640 Do you feel like Kryptodes are still a cult meme memes? 586 00:32:04,640 --> 00:32:07,320 Do you feel like they are perhaps going to catch some love 587 00:32:07,320 --> 00:32:11,840 in this rally? I don't know sleeping potential 588 00:32:11,840 --> 00:32:14,320 giant. I think the, you know, this is 589 00:32:14,320 --> 00:32:17,360 the you would you always show that the little roller coaster 590 00:32:17,360 --> 00:32:18,640 bigger loop, smaller, loop smaller. 591 00:32:18,920 --> 00:32:22,080 I think the loop potential is smaller for toads than it once 592 00:32:22,080 --> 00:32:24,800 was, but there there's still something in there. 593 00:32:24,960 --> 00:32:26,360 Yeah, there's still something in there. 594 00:32:26,720 --> 00:32:30,840 Sad. Well, shout out to to Gremplin. 595 00:32:30,840 --> 00:32:33,960 Perhaps he will kick start a toads run later today just to 596 00:32:33,960 --> 00:32:36,880 prove Logan wrong. That's going to be a a quick 597 00:32:36,880 --> 00:32:39,480 round up of the market. We kept it tight today like I 598 00:32:39,480 --> 00:32:41,440 promised, but we need to get into Arbitrum though. 599 00:32:42,040 --> 00:32:45,960 Arbitrum folks once again has been cooking just to start at a 600 00:32:45,960 --> 00:32:50,000 high level. AJ Warner here shared their new 601 00:32:50,000 --> 00:32:55,520 partnerships from 2024. Robin Hood, Paxos, Franklin 602 00:32:55,520 --> 00:32:59,560 Templeton, then in games, Ubisoft, Apecoin, Uzuki, Senko. 603 00:33:00,040 --> 00:33:02,080 And this is about as big as it gets, right? 604 00:33:02,120 --> 00:33:04,600 I mean, there's some major, major names. 605 00:33:04,600 --> 00:33:07,760 They've launched nearly 100 orbit chains. 606 00:33:08,400 --> 00:33:13,720 We also saw the the orbit Arbitrum orbit road map here, 607 00:33:13,720 --> 00:33:18,400 everything that they are focused on from custom ability, 608 00:33:18,600 --> 00:33:22,640 decentralization, Dev X interop and and performance. 609 00:33:22,640 --> 00:33:26,480 So clearly orbit laying the groundwork for so many chains, 610 00:33:26,480 --> 00:33:30,160 so many builders and they continue to iterate on their 611 00:33:30,160 --> 00:33:33,960 product. And then they've they've got 612 00:33:33,960 --> 00:33:37,280 some action on the D Gen. side. So their their meme coin 613 00:33:37,280 --> 00:33:42,640 platform Gu trade that's getting close 95% of the way there. 614 00:33:42,920 --> 00:33:49,280 And then noteworthy this week is Apefest is coming and Ape Chain 615 00:33:49,280 --> 00:33:52,040 is powered by Arbitrum Orbit. I know they're going to have a 616 00:33:52,040 --> 00:33:56,720 MIT with the their BMWM driver's licenses. 617 00:33:56,720 --> 00:34:01,200 Plus, I'm sure there's a lot of surprises in store for Ape Fest 618 00:34:01,200 --> 00:34:03,640 this weekend. Logie, I know you, you dug into 619 00:34:03,640 --> 00:34:05,200 this a bit, kind of what jumped out to you. 620 00:34:05,200 --> 00:34:08,880 What were some of your takeaways from what Arbitrum's got going 621 00:34:08,880 --> 00:34:10,960 here this week? Yeah, so the Ape Fest stuff is 622 00:34:10,960 --> 00:34:12,880 awesome. I think Ape Chain is a sleeping 623 00:34:12,880 --> 00:34:15,000 giant. You have the banana bill like 624 00:34:15,000 --> 00:34:16,320 there. There's a lot I'm excited to 625 00:34:16,320 --> 00:34:18,920 see. What types of apps and just 626 00:34:18,920 --> 00:34:21,760 consumer opportunities exist? So really excited for this. 627 00:34:22,679 --> 00:34:26,560 Also too, though, the the orbit chains to Segway back to the 628 00:34:26,560 --> 00:34:28,800 state of crypto. You may have noticed that if you 629 00:34:28,800 --> 00:34:32,760 dig a little bit deeper, there's mention of proof of play and 630 00:34:32,760 --> 00:34:35,560 just the the growth and infrastructure scaling of 631 00:34:35,600 --> 00:34:37,480 Arbitrum orbit. Proof of play, I think is like 632 00:34:37,480 --> 00:34:42,360 the top three of four in terms of what's listed on that state 633 00:34:42,360 --> 00:34:46,719 of crypto from A16Z. So just an incredible growth, 634 00:34:46,719 --> 00:34:50,000 incredible new innovation and scaling for some of these 635 00:34:50,000 --> 00:34:53,840 massive, massive games. So shout out proof of play and 636 00:34:53,840 --> 00:34:55,440 and Arbitrum leading the way there. 637 00:34:55,719 --> 00:35:00,400 It'll be really cool to see what other things come as a result of 638 00:35:00,400 --> 00:35:02,960 that innovation now that you can actually get so many people 639 00:35:02,960 --> 00:35:05,800 playing these games without the scaling issues that have 640 00:35:05,800 --> 00:35:08,040 previously existed. Yeah. 641 00:35:08,680 --> 00:35:13,120 No, it's they continue to power so much of the ecosystem. 642 00:35:13,400 --> 00:35:16,400 And if we take a look back at arbitrage, I mean, it's yeah, 643 00:35:16,520 --> 00:35:21,760 it's 6% of the builders and that doesn't even factor in all the 644 00:35:21,760 --> 00:35:24,960 orbit chains. So so clearly a significant part 645 00:35:24,960 --> 00:35:27,080 4. Four of the top five, I just 646 00:35:27,080 --> 00:35:28,240 pulled it up on second screen here. 647 00:35:28,240 --> 00:35:32,240 Four of the top five are arbitrage settlements for those 648 00:35:32,240 --> 00:35:35,360 the gaming and the TPS, the M gas per second. 649 00:35:35,360 --> 00:35:40,320 So leading the way in terms of scaling and and opportunity for 650 00:35:40,320 --> 00:35:43,720 for growth there. In Robin Hood, this Robin Hood 651 00:35:43,720 --> 00:35:45,840 app is going to be 1 to watch. I think a headline that we saw 652 00:35:45,880 --> 00:35:51,280 yesterday was future trading on Bitcoin, Bitcoin futures, so 653 00:35:51,440 --> 00:35:53,360 similar to like your options type trading. 654 00:35:53,360 --> 00:35:56,400 I think that's going to be an interesting one. 655 00:35:56,680 --> 00:36:00,000 We saw Paxos and their stable coin and then Franklin 656 00:36:00,360 --> 00:36:04,040 Templeton, of course, doing so much and then Ubisoft launching 657 00:36:04,080 --> 00:36:06,920 several web three games. It seems like they've got in the 658 00:36:06,960 --> 00:36:09,280 the cooker. So a lot more to come. 659 00:36:09,280 --> 00:36:12,840 It's already been a a big year, but a lot to look forward to 660 00:36:13,200 --> 00:36:17,600 certainly with them. All right folks, I think that is 661 00:36:17,640 --> 00:36:21,040 going to be it. We promise you 35 to 40 minutes 662 00:36:21,080 --> 00:36:23,160 a a tight show. We delivered it. 663 00:36:23,160 --> 00:36:26,320 Once again, I want to shout out to our listeners for tuning in 664 00:36:26,320 --> 00:36:28,600 to today's FOMO hour. That will be it. 665 00:36:28,600 --> 00:36:31,440 We will be back tomorrow breaking down all of today's 666 00:36:31,480 --> 00:36:34,160 action. Maybe a special guest tomorrow. 667 00:36:34,160 --> 00:36:36,200 We'll see. We're working on it +2 robot 668 00:36:36,200 --> 00:36:41,040 spins for our Friday show. As for today, go have a great 669 00:36:41,040 --> 00:36:42,600 Thursday. Go make it a beautiful day. 670 00:36:42,800 --> 00:36:43,000 Goodbye.