Oh yo-yo, what up? What up?
Good morning. Good morning GMG Friday March
1st, 2024444. Look at that.
Another beautiful day to have a beautiful day.
Another beautiful Friday to have a beautiful Friday.
Another beautiful month. I have a beautiful month.
My clean lady downstairs must think I am crazy.
I'm not gonna lie, I never thought of that.
She comes on Fridays every 3rd every month, once a month.
She must think I'm nuts at this time.
Anyways, I should ask her once how it feels to be on the other
side of that. Anyways, I got my Co host in the
house. I got my Co host in the house.
OSF mendo. How you guys doing today?
Happy Friday. Happy Friday man.
Crazy time, Crazy times again in crypto.
Crazy times. Times are so crazy that we're.
I see where we're changing college schemes here in the
funding side. That was a great tweet.
It's great. A new funding?
Yeah. A new color palette and we can
we move on. But wait, there's blue, then
there's turquoise, then there's baby blue, then there's baby.
You know we're going to go into the shades.
Different shades of Gray. Like 50 Shades of Orange, 50
Shades of Red Oh man, oh man, oh man, this this is this is wild.
But anyways, I'm sure we'll get into that in a couple of minutes
here today on the show today. Today.
So as usual, we all live both on audio and on video.
About to post a link, but it's on formal hour already.
You can find it on the RUG video, YouTube.
So it is a big day, Big day. Why?
Because Friday, you already know my favorite day for my green
candles, Shabbat candles, so we call them.
So hopefully we get a few of those.
If we don't, we don't. But if we do, they're usually
pretty nice. So Lana takes flight, ETF still
takes in 92 million. I mean, we're talking Hong Kong
ETFs. We're providing banks offering
beats current TS, We're talking demand for supply Bitcoin.
We're talking with hitting a dollar 1st doctor.
I mean definitely is on right now.
You love to see that Shout out to everybody cooking on those
coins. Love to see that everything's
going. Has OSF retired yet?
I just noticed is one of our topics today.
Clearly he is not because he's here right now.
But we'll definitely talk about OSF and if he's retired.
Given blast mainnet went live yesterday.
Oh my Lord, what a shit show for a second Let me tell you all
your boy got rugged but but I needed to feel something and I
did. Now I cannot get rocked for the
rest of the cycle Inshallah. And last but not least alien
offer was rejected but a new alien offer came in on purchase
offer alien right now which may be honestly if it gets taken in
the show I may just break everything around me go crazy
because that's how a real bull market start And with that with
that with that you know what since since Obi you you looked
really really really troubled yesterday.
We're going to start with you this morning.
Daily Market Report brought to you by Rogue Radio.
What's the Word? Traditional market strong, we
had the first Green Day this week yesterday and equities
we're up again in futures this morning.
So it's not really, I mean the VIX right now is at 13.
So volatility in stocks is, is very low but price action is, is
good there. Next week we will have some
days, so we'll have payrolls on Friday and then the week after
we'll probably I think I believe we'll have inflation the week
after. So I think we'll get some
volatility in action back in traditional markets towards the
end of next week and and the beginning of the week after
crypto it's it's kind of mixed. I mean for a lot of today
Bitcoin was around 62, KE was around 34134 fifty.
We've dropped off a little bit from those levels this morning.
Yesterday's ETF data was the weakest we've seen this week.
We had a 600 N of a $600 million outflow on GBTC, which I think
is the largest daily outflow or one of the largest daily
outflows we've seen since inception.
So that total net inflow yesterday was just 80 million,
but Blackrock's ETF is still basically completely offsetting
GBTC. It may have been a month end
thing, yesterday was month end. So I don't know if there's some
month end rebalancing that caused such large outfit number
yesterday. We'll see, but we'll have one
more day of ETF data today and we'll see how that goes.
I mean it kind of looks like it feels like crypto sold off at
the US market open today and that's usually for me an
indication of what those flows could potentially be like.
And so we'll see if they're good or bad today.
But yeah, a lot of stuff moving around, you know, a lot of mean
coins are up big at the moment. You obviously had the portal
coin launched yesterday. Yeah, blast mainly, mainly
yesterday. There's there's a lot going on
in crypto right now. And so far the price action, to
be honest with you, the price action has been good.
I mean I think people have this problem of like, oh, Bitcoin hit
64 K and now it's back down to 62, even when it's even when
it's up on the day, right. So it's it's for it to have,
you're always going to get those big breakthrough weeks and then
it gets all back down. And for us to maintain these
levels towards the end of the week, I think is it's pretty
strong. We should be angling for a
strong weekly close. I think funding is still very
high. Funding has been ticking high
throughout the week. We're not at the highs of the
week. We have pulled back a bit.
We have had some liquidity cascades and a lot of leverage
being wiped out in in the last two or three sessions.
But funding on the whole is still relatively high.
So I still think it's going to be you know, I think things will
go higher, but it's going to be choppy.
So I think you know, expect some some nasty Wicks from from here
on still. Man, I love that.
I love it. You know what's funny is what
you're part of what you're saying is like we had 64K, cool,
we had 61. We had 64 second yesterday.
Oh my God, like it's over. You know what I mean?
Like, I remember when we broke the yesterday morning.
You know what's funny, man? Though I noticed that everyone
on the Solana because when it broke that 126 high, people were
euphoric. And by the night time, that's
what I think around. When you guys were asleep,
people were like doom posting because it came back to 126.
Yeah, if you're in Euphoric in the morning about slot 1:26 and
you're doom posting about slot 126 at night, you deserve to
lose 100% of your back. Just for perspective, this time
last week a week ago, Bitcoin was just over 50K.
No, dude. That's the perspective.
This is crazy perspective. So when you look back on the
week, we've missed from 50K to 60K.
Yeah, that's a huge move. But we're also biased by recent
recency that we get married to those levels.
But it's had a massive, massive move in.
The face of the week, I can't even.
I have to like, zoom out. Though.
I have to zoom out. Those green candles are so big.
I mean, Mando, what do you have to say about all this?
What is your read here on the market?
What's up? My read here on the market is,
yeah, it's it's kind of what Ovi, Ovi just said, like I feel
the ETF is driving stuff. I find it's difficult because I
think we're in like a price discovery mode here each day
because of the amount of influence coming into the ETF.
There's some outflows obviously from the Gemini selling, I think
of GBTC, which I think was probably going to be responsible
for what happened yesterday. And then remember we don't get
the ETF on the weekend. So recently the weekends have
been times for like mini dips or dips.
So yeah, don't be don't be surprised if we have a dip on
the weekend kind of wiped out some leverage.
I do think the funding situation has got a lot better than it was
24 hours ago, I would say for quite a lot of different
altcoins at least it's down 3040% from from what it was.
So it's definitely, it's definitely been a little bit a
little bit of wind coming out the sails.
I think the stuff, I think Solana was the main outperformer
at least over the last 24 hours. Bitcoin is kind of heading low
and and dragging most things with it since the US since the
US Open. But the the the strongest sector
by a long long way has been meme coins and I think that's also
reflective like who's coming back into the market like as we
said yesterday if you're reading articles which is the top 8
altcoins to buy, meme coins to buy in this rally like that
feels as though we're getting more retail people.
I think Coinbase is up close to the top 100 in in on the App
Store now and it was like 400 a few weeks ago.
So it's it's climbed a lot and we're starting to see some of
that some of that interest come back.
So meme coins continue to be the the hottest sector and then yeah
it's like the the majors altcoins.
Still I haven't been trading that well like if you looked on
a 24 hour chart for today apart from Solana like a lot of
altcoins are lower again. So it's it's definitely not been
altcoin season. I think a lot of people are
calling for altcoin season to start.
My my personal view on that is it's not going to be one of
these things where one day altcoins will just like send.
I think everyone you can see it from the funding data and and
from the open open interest is like I think this is the first
time where the open interest on altcoins actually has surpassed
open interest on Bitcoin IE the people that are here every
single day trading, trading crypto particularly on leverage.
They are mainly in altcoins right now and if everyone's in
the trade I feel like it's still going to take a little bit of
time to play out. So my view is that I do think
altcoins will catch up, but I do think it's going to be more of a
like a progressive move. The yeah the only real altcoin
that I could need to push is Solana I guess I guess that that
is still an altcoin even though it's like nearing I would say 80
billion FTV. But yeah it's it feels maybe a
bit more like a major at this stage.
But yeah, out of the three of if Bitcoin and Solana, I still like
just because I think some of the D Gen. activities kind of
returning there like you see with go high, so the ecosystem
coins go higher and I feel like that's a good narrative still to
still to go to just broke, broke that previous high and then kept
that as support. You know like 1/26 was that
previous high and then it bounced from there back up.
So that that normally is a decent sign for like OK, well
your your, your, your upside is capped.
But don't, you know, be very, very aware that we may get some
good Wicks to buy this weekend. Like there's no ETF tomorrow.
What generally tends to happen is we have a little bit of a
wobble on a Saturday. And then as we approach Sunday
night again, everyone remembers that we're going to have, you
know, billions of of Bitcoin going to be bought in next week
and things start to go higher. Well, that's what we've seen for
the last few weeks. I don't know, this weekend.
Like, it does feel as though a lot more retail is coming back
to the market. So maybe, you know, you get out
of work and you're just like, right?
Like I was thinking, I was thinking like if you didn't have
any exposure to crypto right now it is just Max Payne.
Like we're going to go into some of the headlines.
But like if if money, like traditional money managers are
telling you you need to have part of your portfolio in
crypto, banks are now allowing you to buy it, your you know the
Bitcoin just keeps on hitting a new high every single week.
Meme coins are running like it just must be so painful for
people who just like don't have the time like in their, you
know, in their week to like, which is completely
understandable, you know, like some people just do not.
So I do think that part of it, you might see some FOMO plays
again this week, this weekend. So that's it.
That's what I was going to say, Mando, but you went that way
anyways. I was going to say, well, isn't
this time different? And the reason why I'm saying
that is that what's retail coming in, they're not buying
Bitcoin. Like retails, not buying Bitcoin
like at the price of current Bitcoin, if you were like
someone with like 1000 to $10,000 in your portfolio, do
you think you're buying Bitcoin? I don't think these people are
buying Bitcoin at all. And and I don't mean that
doesn't like a knock like or anything, but like you what do
you want to buy? You want to buy the fucking
fucking Harambe coin. Let's say that's coming back
from an $8 million low and you think you're going to get the
next mug or the next dog to a dollar.
Like dude dose coin dude Dogecoin right now and I know
that's bears from Dogecoin pops a lot but Dogecoin at 11-13
cents whatever it's at that mental gymnastics of the first
dog to a dollar with with you think retail doesn't want to try
and run that shit back to to a dollar for Dogecoin.
You know what I mean? Like I'm just like in that when
does retail doesn't get to. I mean we're lucky, man.
Like we get to operate and work every day in an industry that we
love and we we're 24/7 crypto Web 3 NFTS.
But like, most people are not, like actually most of our
listeners, I bet you that they're either at work right now
or or they have work and kids and this and that.
Like, they don't have time for this shit.
But on Saturday morning, waking up, Daddy's going to gamble, you
know? You know, like, you know what I
mean? Like, or or the kid that's like
16 years old that's watching on TikTok, all these wannabe tik
tokers like becoming quadrillionaires, you know?
We know they're not. But what is he going to do?
Well, when he's done his own work and Mommy's going to let
him watch the fucking TV Cartoon Network, he's going to be
fucking buying Solana shit coins, because Solana doesn't
have like in Saint gas fees right now, right?
So I think, I think this is where we're at.
Let's see this weekend, right? But I, I I think this could be
where we're at. So the weekend you play in the
sandbox, like the mean Coins, and then weekdays you play with
the majors, right? Like it?
Could be like we haven't seen that so far.
What I was thinking going into the close is this could be a
what we saw, I think it was two nights ago is that Bitcoin
decided to drop and altcoin decided to move higher.
So I do think you could see it over the weekend is actually
Bitcoin dominance fault. So like you just said, like the
people coming to the market are the people who are going to buy
meme coins or they're going to buy altcoins and bitcoins bid
might fade slightly so we could have appeared where Bitcoin goes
lower and altcoins start to rise again.
So I I you can maybe look out for that, you can maybe look out
for that as well. Yeah, I mean it's I I think this
is inevitable at some point. Like there was a point, you know
2021, like it was just like that.
If there was another there, there there's gonna, there's
there's gonna be a coin. I mean OV has this like quote,
tweet that he quote tweets like a lot.
Now it's like there's gonna be multiple coins that bill
multiple billions of dollars, whatever.
Something like that. Like this is it, right.
There's gonna be multiple shit coins.
Over a billion. There's gonna be multiple even
more at 500 mil. Even more at 250.
Even more than 100. Like there was a point in the
cycle where like, fuck, like when is this gonna hit 10 mil or
50 mil, not 50 mil. It's like FUD.
You know what I mean? It's like we've went to a
billion boys with it. My 1:00.
My one bit of caution here, my one bit of caution here of
course, is that although I agree with with that concept, is this,
unlike the last cycle so far at least you haven't seen like
number of holders for any of these shit coins go to.
We're not there yet. We're not there yet, like.
We're not there. Yet for example with sorry for
example Mog, how many, How many, How many?
Right. That tells you.
That tells you a lot. And it's.
And it's now trading at a Hun 200 million, right?
So every single holder has probably got at least 20 K.
Look, you're right, 8K. Eight and and I think that that
ratio when it normally gets above 10K in, I mean previous
markets like that normally signals a top.
I don't know what it is for WIF, but I think it's probably around
the same. I think it's like 50K holders A
WIF. So again, everyone's like owns
like 20 K right now. We haven't yet seen that
conversion. We might start to see that sort
of conversion, but I would be wary for any of these coins like
Doge went to 40 billion, Doge also has millions of holders,
millions like it has I think 5 million holders.
So we're not in that market right now that took Doge to 40.
We may and we may see retail come back very, very strong for
a lot of these different coins, but right now at least just we
might be in the foothills of that move.
But for now it's kind of people who are maybe crypto curious and
people who've been here for a long time just swapping bags
with each other like we haven't really increased the sphere that
much compared to previous cycles.
Retail is not here. I totally agree with you, but I
think that we're going to start like, like you said, you started
with Coinbase is jumping in the App Store.
Yeah, just broke like you started with that.
So like it comes back to that and but also mind you, this is
where you'd be most careful. There's a lot of fucking rugs
and scams out there like we're back like that.
Like we're we're that back. Like we're back to the point
where like with the meme, we're so back.
We're so back means also all the bad actors and all the scams and
all the rug pulls and all the hacks, all the drains.
So why don't you tell us about it?
Why don't you tell us about it? You're the frontline soldier.
What? What were you doing yesterday?
I am the frontline soldier, so fuck you dude.
I'm not going to talk about the other stuff.
That's what I'm just going to tell you about me getting run.
So yesterday, you know Blast mainnet went live, right?
And over in a minute I want to, I want to hear your thoughts on
that because you're like the king of the seal of blast.
But so I I'm like, fuck it. I'm going to, I'm going to front
run the mainnet. I'm going to do this thing.
So I send like 70th of 25 grand to like an address and it comes
back out in my address. It was crazy.
It worked right. So you might so for the people
at bridge before man you could send it to an address like your
ETH and would you would receive it on blast right like a minute
after. And so I do that and I was like
fuck it. I'm going to go and I'm going to
ape into all the first of narratives because like fuck it.
Like clearly that's what these like I was like I'm going to go
as left curve as possible And my risk tolerance mind you just so
people know here is very high. So I don't really care.
So I was like fuck it, let's go right.
Doesn't mean do that just out there staying out there.
I do have my biggest back is my steak Solana.
So I'm good, I mean, but poor being poor being I I go and I'm
like, let me buy this. I'll just say the ticker here
but just so I know it rugged or I got rugged and I have none.
So it was like this blast Eno coin.
No, not blast. I was a blast cat coin.
I was like, well, the cat prophecy this year with mug and
everything like GCR saying that cat coin's going to 10 billion.
Fuck it. And it's the first whatever shit
caught on blast before Maynet. Like you cannot get more left
curve than that. I ate pin, I get rugged and then
I'm like, fuck it, what's the Next up?
And I'm like, well, surely he's the first dog, because every
fucking chain needs an Inu, right?
Thank you Wizard of Soho. And and so I.
Like, I just all I heard was like him saying it was going to
be the next coin. Then the next day I see him
apologizing on the fucking time. Like what?
What happened here? Like I the two I'm over 2 / 2.
I'm like the first cat boom, the first dog bug.
You know what? It's you know what I'm going to
do. I've had a Wassie for two years
now. It's in my fault I'm going to
claim my pump token with it or however you do it and and I'm
but just so y'all know yeah someone said same thesis I'm one
of y'all like oh there's let me get I'm one of y'all like I'm
out I'm out there getting rugged liquidated but I I I also do the
the same shit but that was my story yesterday getting getting
rugged and it's funny is in the same morning I wrote in the
group chat you guys are in it so you know I wrote can't wait to
get rugged for the first time to cycle and I got Rook like 8
hours later so you know so so shout out to all the soldiers
out there you know let's. Keep going.
This isn't really blast like because I think everyone kind of
gets the game but I I have I was saying to OSF that I do think
like this is the chain where we'll see the most like in crazy
rug or like hacks you've it's been a kind of a very quick
launch of main net. A ton of new protocols have
rushed out new coins. We defy new part dexes.
Like. If you are a hacker and you are
looking for someone to hack right now, you are on blast and
you are doing whatever the fuck you can.
Like it's like. Opinions.
Are intro like I think we're going to we're going to see a
lot of this a lot of this. So be very very wary like this
is this is a lot of new teams pushed out projects as quickly
as they could so they could get to mainnet like it's.
So stupid. It's it's so crazy.
I mean OV, you are the king of blast and at least on this show
yeah you're so how how was your how was your experience first
launched Blast mainnet. I just think people were maybe
expecting more from it than it was than it could be on day one.
I do think there's going to be a ton of meme coins, that there's
going to be some meme coins that will do really well.
There's going to be some tokens that will do really well on it.
But it's it's like day one of launching A token main net,
right? There's always going to be
things that don't work and it's always going to be a mixed
experience in my opinion. You will see in the next few
days random meme coins take off on it or random things take off
on it. And that's when people think, oh
shit, I need to be on blast right now.
But yeah, on day one I wasn't really expecting loads.
The the ponziness of it as well, I think is, you know, like we we
saw the same thing with Blur. Like, I don't know why anyone
would expect anything different here.
I think what? Is the funziness like, can you
can you break it down? Because I have to and then and
then I didn't really know. Yeah, I mean if you with,
basically if you interact with different daps on BLAST, you get
multiplies on your points, right?
So the assumption is if you don't interact with them, then
you're not going to keep up with everyone else who is.
So if you just take out your money now from bast and you
don't get any of those multipliers.
So sorry, So what about the points you've already earned?
You keep, you keep the points you've already earned, but
they're not going to be. They're not going to be.
Yeah, if everyone, let's say someone's earning a 10 times
multiply on their points now, and you don't do the the steps
you need to take to earn the that 10X.
You will keep your points, but you're going to get a much
smaller piece of the pie than you would have had you
continued. So before it was like you, you
logged on, you did some random quest each day and that was OK.
Now it's like you've got to log on and it's really going to be
the most active users that multiply their points.
I don't. I don't think it's going to be
the most active users, just reading by what it said it looks
like. And this isn't just my read of
it, I haven't spent enough time on it yet, but I think there's
like a bunch of different. Dapps.
Which you can earn your multipliers I think you can earn
up to 10 times or maybe a 14 times multiplier and I think you
I think you just have to interact with those daps once to
get that multiplier. So multipliers my my read is
like you do what you go and do one transaction on Thruster
you're going to do 1 transaction on juice you're going to do 1
transaction on this and once you've done all that then I
think but I don't know for sure I need to I need to double
check. I don't think you get I think
the the you can get rewarded for being active on it but I think
that's this thing called gold. They give you these gold bars
and that's that must be like some extra juice thing.
But I think that's like the my my hunch and my feeling is like
for someone who's going to be low touch like me, I'm just
going to go through make all those interactions and then just
leave it. Basically you want to get, I
think you want to get that multiplier.
That's my. That's my.
Go ahead. And the blue boys.
And you can never leave, right? That's the other thing, like if
you leave and, so you basically leave now for.
Episode of of Remember What's? It called.
You can leave, but you will only get you won't.
Your points won't be worth that much unless you bridge like a
shit ton of ether. It's like an episode of Get Out.
Like I could leave and I probably will still get a decent
AirDrop I think. Now you're you're goaded for
you. But I but I'll obviously get a
much bigger AirDrop if I get these multipliers in Bridgeford.
Right, right, right. OK.
Yeah, you've made the best, like in terms of like you may have
been because it was one of those things where the other were
really, really big. And you maybe don't have to
worry about the multipliers, the multipliers and the new Ponzi to
new Ponzi. Like you, you're cool, you're
chilling. But for the average person that
didn't send the South and E, it's different.
I have to say though, this whole thing, like I I just reminds me
of this. And you wait.
You wait, and whoever speaks first loses.
This is it. Can I call you?
Back. They don't.
Know, right. I got to think about it.
They got to talk to the fucking wives with the fucking tooth
fairy. This isn't matter what the fuck
they say this is like, this is like this is what this whole
thing reminds me of right now. Like this is like dreams upon
dreams right now. Like I I love it.
I'm. Going to this is, this is
something that I really get in that head.
Like when the AirDrop happens, whenever it is, that won't be
the end. Like I'm telling you, it will be
like a vesting schedule for more.
Or like your points will be and like like he is going to make
sure the TVL stays in this goddamn game.
So you'll get, you'll get the AirDrop, you'll get the the
AirDrop and like after season one, but obviously there's going
to be more AirDrop. You can find future seasons, but
I think the way that I view it is it's going to be the same as
Blur, where like the first AirDrop is going to be pretty
good and lowest effort and then the next ones are going to be,
you know, a bit harder and maybe less value.
So I still do think, I think the first AirDrop will be, I think
people who have done this whole thing from from the beginning
will get a really good AirDrop 100%.
They keep it, keep if they keep it up and it's only really three
more months of of staking and you just have to do a few things
to get the multipliers. And you're holding ETH like ETH
that your ETH is appreciating at the same time, and you're
yielding 4% at the same time. So.
It's. Yield ore.
By the way, my this is the best Ponzi of the cycle.
It's also it's also right around when the ETF maybe gets
approved. So.
Yeah no people will people. I'm convinced OV that people
will cook this whole thing like the blast casino you know we
have a new casino guys like so when I was I kept saying it's
best casino in the game. We have a new casino in the in
in town. Y'all it just opened one of
those new shiny toys and guess what's coming with it Bit
connect. What's so what's so what's so
what's so what's so what's so what's so what's so what's so
big Connect is back ladies and gentlemen.
So big connect is a game of flight blast AirDrop farming D
far protocol that's giving 90% of the blast AirDrop back to
users based on their activity. This is not an ad I am not
involved in whatsoever. But I have to say this tweet I
love from Palace saying one of the honourable mentions
launching on Blast. For any O GS who recognize that
name, we've come full circle. The funniest part is it doesn't
even sound like it's describing real product.
It's a game and find engagement Ponzi of some form kind of like
the original. That's what from curved thoughts
here, Palace. I mean, guys, we are so bad
like. Maybe, I don't know what Big
Connect is, is that that is that that social media thing?
Do you remember? Do you?
So I mean, none of us, I believe, were around that time.
So, But do you remember this? Oh yeah, I do know this.
You know this. We are so bad.
What's up? Love it.
No, no, no. You know what?
Oh, shiny. I remember when he used to run
the Shiny show, actually had that guy come back on his faces.
I was dying because he was selling an NFT of like, the
fuck, of course, right? Like all the fucking people
outside the memes, man. We're so back.
Like, we're so fucking back. Anyways, I've.
I've lost track of of everything going on.
Another news. Speaking of news do you guys see
Speaking of being back you know well he's the reverse back
because he's out the Tim Buckley to step down as CEO of $7.2
trillion asset manager Vanguard and if you guys remember pretty
well Erica Kunis. The chat that we had the day of
the ETF coming out was that they had a very strong time.
So it was a Buggles, right? Buggle heads or whatever even
called us at some point. But Bitcoin anyways, Yeah, the
Boggle heads he calls boggles, that's fire.
Because we, you know, And in retrospect, OV said sixty 4064%
Pepe, 40% whiff. At the time.
Ovi out traded everyone, including the bankers, the CTS,
everyone. So that's 6040 prediction
premonition right there. That was foreshadowing.
Anyways, he's out. He's out.
Do you guys think he's out? You guys know better than me.
But you guys think he's out because he fucked up on the beat
Bitcoin ATF stuff? Because that's that's enough to
fire his CEO at that level, no? I don't think he he he would
have been pushed out like Vanguard, like super super
popular. But I can imagine this is the
sort of thing that maybe he thinks he's too old for the game
or just goes like, you know, yeah.
So maybe he's just saying he's too dis disconnected.
I don't know. I'm not saying that he got, but
he may have just decided, you know like maybe I'm not the man
for this. Like I need to fall on my sword
for Vanguard to be able to like push into this space.
We don't want to be seen as boomers essentially like this.
This has been a massive win in terms of fees for the other ETF
providers. So, like it is a big miss.
It is on principle, you know, like it's about the fact that
they didn't believe in Bitcoin and there's a lot of people, you
know, senior finance people in the US who don't.
So like it's, you know, if they don't then that that's kind of
on them. But yeah, I I think.
I think it's linked, but I don't think it's like it's not.
He's not been fired, I don't think.
What do you say, Colby? Yeah, I don't think he's been
fired. Look, I think maybe there's
something that got raised because the other ETFs were
making a lot of money and and the, you know, they're they're
really printing and these guys probably Vanguard are on and
they have historically been one of the biggest if not the
biggest ETF house. But I don't.
Maybe it's somewhat related, but I don't think he's like, I don't
think he's been fired. Like, I think that's a bit of a
stretch. Got it, got it.
Just check it. Just just just check it.
Just check it cuz I listen. It is a big deal.
It is a big deal because Vanguard may now be at, may now
walk at that back. You know, like and Vanguard are
the biggest. They are the biggest imagine.
It's Vanguard like we're going to a trillion not market cap on
per Bitcoin like. Interestingly, it may be
slightly different for Vanguard, like Vanguard are known in the
market for destroying everyone's fees, right?
The whole point of Vanguard is they have the lowest fees, they
undercut everyone on fees and part of the reason why this this
has been so successful is because the fees have been so
high. So all these, like Tradify ETF
providers have been really incentivized to sell the ETF.
If Vanguard come in, suddenly this whole industry becomes
slightly less profitable. Like they won't be having all
their sales people coming in to try and sell Bitcoin.
So like, if they do make that move, don't assume that it's
just like unbelievably positive. It could like kind of kill the
competition, kill the hype from a lot of different different
providers. No.
I'm telling you like it's already a successful ETF.
We keep on beating records after records every day still on the
Bitcoin news. And Speaking of ETFs, Hong Kong
received 22 applications applicants.
Sorry, on crypto exchange licenses.
What do we what do we think happens here with big ETFs over
there like? So they they're getting ETFs, it
was 22 applications for ETF providers.
So and that that's going to be coming in the next two months.
So that could be huge, that could be absolutely huge again
because a lot of you know a lot of Asia doesn't buy like things
on the US stock market or at least there are some capital
controls in some countries as well or it's like more
difficult. So the idea that you could then
buy it through your like you know, your Chinese asset manager
or your Japanese or any any of the others like like China
obviously is Hong Kong. So you'll get a ton through
there. But then yeah, each country is
is trying like I think there's like 10 different countries all
trying to do an ETF at the moment.
Wow. Wow.
Well, I'll tell you all how what happens because looks like I'm
going to be going there at the end of this month, so I'll let
you guys know how it how it is live.
I'm going to have my boots on the ground live from Hong Kong.
We are. It looks like I'm going to be
going there at the end of this month actually.
You you went before you went to. The the only.
Issue I think with APS. No I went to no we we had thread
guy go but the personally speaking my first time in Asia
was last year with Korea and Korea Buckshaw week and then of
course Singapore was awesome but but yeah I'm excited I'm excited
to see I I really love everything that's going on in
the east in this industry like it's like another it's so it's a
whole other monster. I mean, fucking dragon.
You know what I mean? Like I said it when I remember
when I came back from Korea, I was like euphoric about the
space. And like, I was completely
euphoric but was about to come into space.
Then I came on the show and I was like, guys like, it's
coming, it's going to come really fucking big.
And here we are, right? Like, it's when when you were
there. It's like Bitcoin was already 60
K during Singapore, you know what I mean?
It's like. Over there, the energy is just
fucking different. Now is Hong Kong coming in the
game with ETFs? That is wild.
In other news also, I mean, you already spoke Solana.
We don't need to go too deep into it, I saw.
But Solana hitting $2.5 billion TVL highest since 2022 Raoul.
Paul's getting pulled up. We've gone to his tweets, gone
to Raoul Paul's tweets. Yo Raoul pal.
So I think. I think I'm going to reinvite
him just to talk like soul because I love how like, you
know Raoul. I haven't actually.
I forgot I bought him DNS last year.
Raoul Pappy dot ETH and I got to send it to him.
Raul Powell's getting all bored up.
Which tweet is it? Wait, I'm on his account?
Oh, hyperspace. Yeah, yeah.
Charters and then just yeah, it's just bullying, bull
posting, everyone who comments on it.
Let's just do let's just copy pasta Poppy Raul here.
But dude what's the all time high on TV all there it was 10
bill. No it's called D5 Lama.
Let's see. What?
Yeah, so FTX had a lot of their like their D5 stuff corner on on
Solana, so that was like the main user of it. 9.7 never
crossed 10. Yeah.
We brew, we cross in 10 this cycle or not.
Maybe, maybe. I think the main thing like
Solana, Solana is good for D5, it's also just good for
transfers, right? Like what you really look at
there is also the volume like the throughput essentially of
the coins and that's very, very high.
So yeah, it's less just like they do have like staking Cheeto
obviously has a ton of the TV. I've been through all that is
like much, much higher obviously.
But but for for Solana, it's really about applications,
right, rather than just like putting your money in a savings
account, it's like using it in different things.
So I think TVR will always be lower compared to volume metrics
basically, is what I'm saying. Yeah.
But I mean, it could easily go
past 10/10/10 billion. It could easily go much higher
than that, no? No, higher, higher, higher for
much longer. That's the motto, you know.
That is the motto. It's no longer Yolo, Yolo.
The the motto is is now higher for longer.
Speaking of higher for longer, sorry I I just realized no
monkeys are .6 Bitcoin. Dude, they just keep going.
Ordinals, NFTS. It's just one thing happening
right now, which is just ordinals are just going higher
and higher every single day I look at them higher.
Bitcoin. Bitcoin.
Puppets. Naughty .22 Yeah, but no
monkeys. Puppets with no .23 right now
came back down, but no monkeys, just went from no 48 to 6.
Yeah, huge sweeps going through huge sales like fuck monkeys and
puppets and and then there was an air drop yesterday that that
also pumped like. Puppet Maxi bears.
I got one. Mine is fire.
So that's that's a $1700 AirDrop, boys.
That happened yesterday. So actually, sorry, it wasn't an
AirDrop. You had to pay like $30 to claim
it. So I was wrong.
Like you had to claim it. So I did because you had puppets
and it's like a puppet maxi biz. It's like MK Ultra cook this
one. The artist fire.
Mine is actually sick. I'm into DS.
Look at it. This is my this is my wonderful
ordinals wallet. And here's my pup maxi biz.
Look at that. Pup's in the hood, bro.
Look at that this guy he's fire. That's my son.
You know but it's again man
ordinals dude. Yeah it's so good.
You know it's it's so and and for what it's worth like when it
comes to to node monkeys I don't see this stopping anytime soon I
I I don't have a node monkey for what it's worth like my big bet
was like puppets so it's that's known and have a cat and all
that stuff but but I don't have a node never had a node but
always have conviction than those monkeys.
Ironically, I think this is going to go much higher.
What do you guys think? Like this is like this has got
everything going on for itself? New narrative.
People getting rich, they can keep pumping something.
It's new, it's got a obviously it's got like a bit of an OG
feel to it because it was one of the original, like the earliest
inscriptions, at least for node monkeys.
It feels like Node Monkeys and and I mean this may be far
fetched but no monkeys and and puppet to kind of feel like your
punks in in your apes. They're slightly like little DJ.
Community. You.
Said Punks you. Can see that you can see the
parallels in in in how they're being talked about right.
Like it's like, oh this is the OG one original inscription and
this one's like the D Gen. one which like people are fucking
about with and there's no royalties though like it's it's
kind of interesting these are just like pure collectible
pieces here. So it's just like a classic
Ponzi although you are getting you are getting some air drops
from like the community but like I think I think indirectly I I
know like the the artist behind the the puppets and like I think
he only got like 100 like he he hasn't gotten a lot like out of
out of this like it's not like it's not.
Like he's so fun, right? Like he writes his like puppet
manifestos for like Bitcoin and all that and I just think the
whole lore of him is hilarious. Sorry my my whole arm fell I'm
back. But it's just hilarious.
Like he's just fully into playing into it, you know what I
mean? Obviously talking about that of
course, but that everybody knows this at this point.
So very open about it. It's kind of clean in that
sense, in that, like, no one has expectations from anyone for
this. Like, no one's expecting for no
monkeys and for puppets. It doesn't feel like.
I mean, people always forget that, like, oh, punks just got
to be punks. Punks just have to be punks.
But actually punks were giving Lava Labs a ton of shit during
during 2021. Run, right?
Like, oh, can we can we change things?
Like, oh, we need to be more engaged.
They got so stressed that, you know, that was part of the
reason I think they sold, like, they just didn't know what to
do. Yoga Labs obviously took that
on. They did well from it, and
that's become a bit of a burden. But these feel different, don't
they? Like they just there's no
there's nothing, no expectation. It's just so hilarious.
Like in his manifesto, by the way he calls it the gospel for
World Peace. Like that's what I love about
this whole fucking thing. It's such a meme, right?
We talk about memes and memetics in this space like and it'll be
like whether you like it or not, Puppets are not definitive
cultural symbol in Bitcoin, primarily because we can all
resonate with the simplistic absurdity of it.
There are Ms. Paint monkeys created by a 12 year old.
It's absurd and it reflects the absurdity of the space we're all
in. And it's it's just like the
whole thing. Like you guys, it's just finding
hilarious, like the whole, like, you know, lore of it is great.
And it's also like kind of like Red Guide to 0.
Like it. Their thing is also like puppets
are going to 0. So it's like those are the
expectations. So if that's it, sorry, the
videos are wild, like the the campaigns they do and all this
stuff and it's just got everything going on for it.
So that's why it was my bet on ordinals for this cycle.
We'll see what happens then, but I think I'm going to do pretty
well. In that front.
Also on the NFT front. And then let's get to loot boxes
because it's time. It's time to pick four winners.
So get retweeting. Y'all get retweeting at the top,
bottom, bottom, right, purple. I got friends texting me like,
yo, I'm retweeting every show. I just want to win one.
I can't. I just want to win one.
And look at everybody wants to win.
So bottom right, purple. Retweet and then follow Robit.
Com. So Robit, the official account
and FOMO hour. OK, you have to follow both of
them, FOMO and Robit. And then you'll have a chance to
win one of the four loot box pins today.
But still on the NFT front. I'll.
I'll just leave it at that. I think an alien sale is going
to happen today. I think this is going to sell.
So the bid was removed from the other punk.
Turns out those are just rumors. That person that had the alien
didn't have access to his hardware.
Now I don't know whether it's true or not, but we'll see.
Anyways, the the the punk being bid for now is Perugia's and I
and apparently again we're on the street.
He's been shopping for a minute. He had it listed.
Remember Perugia's the icon that's bought that alien last
cycle. Then everything went crazy.
Now the Perugia iconic alien punk with the pipe is it has a
bit of 4250 E so $14.5 million. I I I think this goes, I think
this is going to sell today and if it doesn't sell today it's
time tomorrow. But we are on the cusp of
staying in the alien punk sale and it's a massive signal for
for the industry when when that happens, question for you
quickly boys. Do you think that this cycle we
will see a sale that will top B post $69 million sale?
Nah, Nah. That that was just unbelievable.
Like, I don't think. I don't think we're going to get
there. I don't think we're going to,
for what it's worth, I don't think we're even going to see
the same. I don't think we're going to see
the same NFT cycle. And if we do see it, it will
probably be ordinals I I think like.
I mean we have encryption 2 selling for 1.4 mil already,
that's. What I'm saying if we do see it,
it will be in. Oh yeah, I don't, I don't, I
don't think with ETH NFTS I don't think we'll see the same
mania as we saw in 2021 because in 2021 it was this brand new
thing. I think we'll see some rally and
I think we'll see well, you know, it will have a.
We'll have a How much of the pack thing go for in the end
like that? That one. 90 something mil No
What? Yeah, pack was even higher,
right? Like, but it was like a.
$1,000,000 sale. Yeah.
I think I don't know I I.
Think you'll see some projects do really, really well and
you'll see some high NFT sell, but you're not going to see NFT
mania like you said you'd like you'd in 2021.
I don't know. I'll take the other side of
that, but we'll see. But because it's not just ETH
now, right? It's Solana ETH.
If you see it, if you see it, if you see it 2021 start NFT bull
market, it's it will be in ordinals.
Oh, so you mean. OK, what you mean is there is
the same ETH NFT mania. Yes, yes, in NFT mania.
We agree on that. OK, OK, cool.
Yeah. I think we're going to top 69 in
our sale from from from from people personally, yeah, I do.
I mean art keeps going up, man. There's like Picasso selling for
like 150 a year, dude. Like every year is a new
Picasso. Surely we will kind of know what
that asset is now what what is the thing that sells.
I mean, if if Danny was to sell his punk, Danny could top
people. Do you?
Think in a year. Yes, I do think.
Right. It may be in.
Full full set of Danny received the in his public so I can share
that because he's talking about on Wreck radio actually received
a $35 million offer for his full ten set of Autoglyph last cycle.
I was with him when he said no like.
I mean, like for one sale, I'm talking.
About this case, if you believe, I personally believe so that
that seven tree punk is Mona Lisa of NFTS.
It's the only one of one crypto punk in the collection.
I think you can easily get 100 mil in like a crazy cycle.
It would be, it would be insane. I mean that may be the asset I
would agree with you like that may be the asset that goes for
that level. But I still think, I don't think
that happens this cycle. I think, I think it's too.
It's too far. Yeah, I don't know.
This. OK, then.
We'll see. I We'll see.
OK, That's good though. That's good.
I was wondering when OV was smiling and laughing.
I went in the group chat and then just started laughing too.
I got to say, that photo's great.
OV of you. Congratulations.
Which one? Oh yeah.
Oh my God, you guys are killing me.