Yo-yo, yo-yo, good morning, good morning. What up? What up? I'm key and what day is it? Wait? Tuesday Tuesday December 10th 2020 444 I only get 20 more days of this look at that another beautiful day to buy a beautiful day. I got my Co host in the house, Mando Tyler. Good morning. How you guys doing today? I'm OK man, you does sound, you does sound the best, but it's good to good to speak to you guys again. Yeah, I I'd be lying to you if I told you I was OK today. What's up, Tyler?
I'm good. I'm I'm ready to get back on air. It's been a week since we've done a show. I'm feeling a little better than you did. Wake up with a little bit of aches this morning so hopefully I didn't catch any basil bugs too bad. Yeah, yeah, hell yeah. Look, I'm it looks like Stream Yard is down and sounds like a nifty Portal guys had problems. So if you're on YouTube, just come on. Spaces on, just come. Yeah, I get it. There's no audio. We get it, We get it. Just move to Twitter, OK?
I I don't have the energy to deal with this. It looks like. Can I get a thumbs up if there's no sound on X either? No, Twitter's fine. Hold on. Give me thumbs up on on the Spaces if it works out. It looks like it works. We'll post the broadcasting in a second anyway. Sim's going to send it to us. We'll post it across our pages like we always do. There's no YouTube. Yeah, Tyler, it's a it's a it's no sound, no VIP.
What? OK, when we may do just the Twitter Spaces. If that doesn't work out, OK, they hear us on Twitter Spaces that that's OK. Man, you get so many tweets here. X is final spaces. Videos video sounds offline. It's a streamy out issue, both X and YouTube. OK, so it's a Twitter Spaces show today. OK, well, OK, well, no sound. Well, come on, Spaces. Come on, Spaces. My first Hey, it'll be a radio show today. Good for me. Actually good for me. You know what? God? God is good.
God heard me. God, God heard me. You guys moved to the space and I'll kill this when you're all over there. Oh, are we killing the video as a as a whole? There's there's no sound at all. I can't get any sound through it on anything. I don't know why but. We're still streaming into the spaces, right? So. Oh, you can still stream the space. You guys can stay here, of course. Yeah, but there's no video. I'll kill the videos. All right, well, chilling though.
I'm gonna hang here. I guess you guys can. Well, they can see us, right? Yeah, I can smile at you. Yeah, exactly. They can still see us, OK. They can listen on spits and see us. Yeah. Don't kill the video. Don't kill the video. They can still look at us anyways. Yeah, Tyler, it was. It's a long bit. It's a long. So it was a long week. It was a it was a long, long week. Definitely missed you guys on the show, though. Tyler.
Mando, we saw Tyler this week and let me tell you, he showed up. He showed up, he showed up big. He's a Tyler's a big man. Tyler's a big. He can definitely bench 265. Let me tell you that. I saw, I don't know. Have you ever met before IRL? Maybe we did quickly, Tyler, but I was like, damn this man's guns and the size of my legs. Yeah, we had like, we've been in the same room, but I don't know, we've really been, like, face to face with chance. Yeah, it was good.
It was fun to get down and meet everybody. Yeah, but I mean, Sims. Sims is the secret giant. He's bigger than me. Yes, yeah, I don't know, somehow I'm the I'm the short one of the of the bunch, but but it was it was definitely a lot of fun. Mando, we missed you, dude. You know, Cali was there. Obviously Ovie was all over. We got to spend a lot of time with OSF and and and the boys, but but we missed you and it was a lot of fun. It was very successful. What were the main takeaways
like? What did I miss? Tyler, you made a good list. I'll let you go first. Yeah, I mean, for one, shout out to OV. Like Wrecked was everywhere. That's true. And like the wrecked hats, the wrecked brand, the wrecked drinks, I probably had a few dozen wrecked drinks at our Hazel. And I was like the people that I ended up spending the kind of the most time with was the the wrecked crew. Yeah, you were invited to the RLD Cabal dinner. Yeah, I snuck my way into the
RLD cabal. That was a nice turn of events. So big, big wrecked guy fan at at this point in time, I think, you know, high level take away, people were excited. So like it was bull market energy. People were definitely feeling good. You know, more so than I've seen in events really since I've been going. So I think my first real event was NFT NYC2022. So I guess that would have been coming at the end. Yeah. So I don't know. We're we're back.
I had a lot of boots on the ground conversations about AIAI and crypto. That was his dude. This guy was. Trying to fill out my bags but like no one buys it. The the consensus view is that the AI crypto sector is either a scam or just a short meta that won't be around. Interesting. I'm not going to give my thoughts on the price action to go on the show today, but but I, I, I had a good interview, one
of the interviews. So I had to do all these like, you know, me, man, I was doing the host thing and the thing and the announcement side and also the, I was doing like 4 interviews per day in the studio podcast room. And one of our partners, they built AI engines and they do really cool stuff. And I had this whole conversation with him and all we'll air it soon. But stir up asked him. I said, so what's up with this?
Like, you know, there's a lot of scam out there, a lot of grip, but talked about the good stuff and he actually opened my eyes about a few good things that I believe can be made with on chin agents in the AI side. But but they were really cool. But yeah, takeaways, I mean bull market energy until yesterday. So thankfully the bull market ended after Baswell this time, not before, not during. You know, listen, we throw a mock party mock goes to all time high.
We throw a pudgy party, pudgy goes to all time high. So it's kind of cool being branded as that, though I'm not sure art it's because of our events, But you know, it's cool. It's cool that the meme is that when we throw an event that that the the project just rips. Actually, we had wrecked everywhere. Wrecked was ripping, but it was it was cool. Takeaways was dude, everybody's
energized, man. And also everybody's I mean, I don't know if that's good or bad, but consensus that 2025 is going to be is going to be the year and then it's going to be it's going to be massive for for for everybody. So that was like the main, main, main take away. AI was top talked about thing. But like Tyler said, not necessarily just good stuff. It was like very mixed feelings.
There was a lot of chatter obviously about wreck because you guys were all over like, dude, Rex was like we made sure Rex is all over the house. You know the vibes. I also had like bajillion Rex drinks and the new skin is amazing. MOG was Taco town obviously because you know got listed on Coinbase the morning of the MOG party like officially for for thing that ripped to Tyler's demise who then got got mock pailed mid party which was super
fun. I saw blondish DJ set with the mog hat on. I decided that my days of fading. Yeah, that that was crazy. I'm literally considering like I'm I'm still considering the full porting because I just think that these guys are the
best guys in the space. And then, and then the other thing is, I know, I know we still have some, but you know, the CHUG guy who was like the other thing that every single normie Uber driver person in crypto coming into the our house that wasn't really into crypto was talking about even blondes, just quant had the T-shirt on with the CHUG guy. So it was just like those were like really like the main things
people were talking about. And then, of course, for me takeaways was us right, like what we announced I don't buy as well, which I'll be able to rehash and and go over again. But the fact that, you know, we've partnered with the abstract to to launch me red markets on there.
We have, you know, Pudgy Penguins, our first community we've officially partnered with, you know, and let me tell you guys, the Pudgy Penguin community shows up because Myriad Markets is having insane traffic of people participating in the markets that we've created specifically for Pudgy Penguins. So it's, it was a really big week for us and very successful one from a business standpoint. So yeah, good stuff, good stuff. And then I don't know, did you
get your Christmas gift yet? No, they didn't get to yet. I don't know nothing. All right. Well, yeah, I think the boys got something nice. So, so anyways, there was there was some, there was some, some really, really cool stuff. But anyways, when I've, when I'm back to life, we'll go over all the myriad markets, the abstract stuff that we've announced. And also, Amanda, I mean, you tell me, looks like we had a little family affair also beginning of the week with DJs coming to our family.
Yes, exactly. That was that was the first round. Super happy that you guys got it like a bunch of announcements for you guys. But yeah, what a journey just felt like that. It felt like that was a it would be in good hands with you guys. And you know, we already basically had a lot of the stuff kind of had a partnership in building out the the D Gen. alley page. I felt natural to going to go
down that route after that. So yeah, we still have obviously have the original collections and stuff like that. But yeah, DJs dot finance is now part of Myriad. Hell yeah, you know the vibe. So that was fun. So we that was that the abstract everything. But anyways, we'll break, we'll break it, we'll break it all down. I'll I'll make sure I break it
all down for people. And, you know, there may be more stuff on the way on our end, but first I need to come back to life and make sure that, you know, we, we make the right noise and we do it properly. But anyways, another show say today, look, we'll go through a through a market report because clearly we need one. I haven't looked at the price of my bags because I'm scared. I don't want to open deck Screener because I read the timeline.
I'm like, fuck, what's going to happen if I open this Twitter, this deck Screener and everything is down a lot. But I'm assuming that I'm down deep 6 or at least seven figures in the last 24 hours. But it's OK because you're not down unless you don't sell unless you sell. So talk about the market, man. I don't the fucks going on because I was promised a super cycle at Art Bass when I came home to A to bear market. And then Tyler.
I'm sure Tyler is good to recap. And we had a big AirDrop this morning. I managed to make my claim work. So I guess I got my Emmy tokens, but definitely was a fight. So we'll talk about this. I know there's a lot of stuff going on the Magic Eden side. And then we have the robot loot box spin. So NFC's are expensive man, I'm not going to lie. Doing those loot box spins dude.
Like it took me like 20 minutes to pair the box because you know how you used to be able to put like 7 miladies and three punks and four pudgies? No, it's over. Those days are finished. The prime days of the 1% chance to win a pudgy and a punk are finished. It's like .2% now because the loot box becomes too expensive. So with that. And then last but not least, this show is pied by not one but two partners. I have the ad reads, but I'm absolutely dead.
So let me find them real quick Hold on Holy shit, I got this. Where's my galaxies ad read? Oh my God, I saw the way by heart It's complicated. This show is powered by galaxies with seamless built in monetization tools. Galaxies enables development of sustainable long term communities fulfilling bitcoins vision of decentralized freedom, independence for centralized control. They were there with us at our Basel. They're doing some really cool stuff Really really love them.
I appreciate them for for for working with us. It was a lot of good fun and and and and and fair side. We've worked with fair side network before, but every day we see people as well as get drained. Fair side is about to launch a fair alternative to insurance for crypto scam. So check out fair side network on X if you get drained if you get drained and you won't get rest anyways anyways. Anyways, that's enough talking for me man. That was the energy I had for
the rest of the day. Mando, take it off. Can you dig it? Yeah GM everyone. So it is been a pretty horrific last few days if I'm honest Well, maybe not for Bitcoin. Bitcoin's still hanging out at like 97. Maybe it's a little bit lower just now yeah 97 1/2 K, but altcoins, in particular meme coins on Solana have been pretty decimated over the last over the last 48 hours a few different things there like this coincided with another big liquidation Wick.
We actually had the biggest liquidation date in yesterday. Not really much triggered it as far as I can tell, other than, you know, leverage being high and and people hunting there. The the only like overarching bearishness stuff I've been
seeing is really about sailor. Just people getting more and more nervous about his buys really like his average price now is now up to about 63 K So and people are getting just quite nervous about that being quite high And given he now owns 2% of the Bitcoin supply, you know, it's it's something that people are paying a lot more attention to. I don't that's not his liquidation level or anything
like that. I think his liquidation level is much lower, but the that's been the main like tone shift I've seen, which is just like, sailor, please stop like top blasting Bitcoin, like buy dips, you know, and I think that's that's been something that I think the market's gone a little
bit nervous about for sure. Like definitely felt has felt like, like it's the number one thing that people are like cognizant of or people point to as like a as like an error, like a chance for a systemic issue going on with crypto right now. Other than that, we've seen like decent inflows and the continues to be like bullish sentiment or commentary around Bitcoin. We saw, we continue to see like strong inflows into the ETFs and and yeah, more bullishness from various different states.
Even today there was talk about Russia having a strategic Bitcoin reserve and there's a chance that micro strategy actually joins the NASDAQ on Friday or early next week. But but yeah, generally that is what I what I continue to see as the number one risk people are pointing to in, in this market at the moment. Yesterday's liquidation, really what we've seen here is that Bitcoin dominance has headed back up from 55. Now it's about 57 1/2. So part of it is just a retracement of that.
But all coins are lower. But really it's Solana coins, you know, and really Solana meme coins. It feels as though a lot of these are are getting absolutely smashed. So most I think are down about 30 to 40% of the last few sessions. So yeah, just a pretty nasty little period here for, for, for that exact slice of the market, I would say. Do I think that can turn around? Yeah, I think you need Solana to come back a little bit here, if I'm honest.
Like Solana dominance is now down to 3% and that was on the 17th of November. That was at 4%. So it's definitely, yeah, it's definitely scaring people I think a little bit that one that, that Solana continues to be an underperformer out of the L ones. And we've seen, you know, broadly the market sold off in general too. Like this isn't just a, just a, a Solana sell off, but you you've seen it. Yeah, it's dominance has gone down a lot over that over that
same period. So people getting a little bit wary. It's not like that. There's been one other chain. It's done like amazingly well and take taking its place. But it just feels as though people are gambling more on altcoins than they are on some on the mean coins still. And that has been like a what I thought would be a short term shift appears to have been a slightly longer term shift in the market. Like people are still buying XRP over SHIELD guy, let's put it that way. Are they?
I thought. I thought it was finished. The whole XRP thing still going. No, no, probably not. Yeah. So yeah, just a bit of a bloodbath across the board there. Yeah. What do you, what do you think Meadow? Is it over or is that is that just a regular flush? I can't hear you guys now. Oh no. Fuck, today is definitely not the day. Jesus, it must be a trivial.
Issue, I can hear you now. OK, so yeah let's see like yesterday normally when you see a liquidations like that, like we saw yesterday normally that would indicate the you know that would normally get a reversal 1.7 billion is is absolutely huge. Like we to put it in perspective, like back in August, we had like a bad a billion and that was do you remember when Bitcoin went down
from what 65 K down to 48? Yeah this did 1.7 So and it was mainly altcoins like if you look at every single one of your altcoin charts, there was a period yes. There was a Wick yesterday where it just looked terrific. So I think it's interesting because I, I personally, the FUD that I've really seen has been about Bitcoin and this and the sailor purchases. But it was, it was altcoins.
They got smashed yesterday, bit Bitcoins only down half a percent today and most altcoins are down quite a decent amount. So yeah. Yeah, not great. Looks like. Looks like we're in it for a little bit. There was also this quantum computing thing that nobody could read clearly because everybody thought that it was over for crypto. But if you did maybe like 5 minutes of research, maybe 5, you know that it's not a worry for cryptography.
And then of course, it doesn't help that Dave Portnoy was talking about crypto again. I mean, this guy is like a notorious top signal and cursed to our industry. It's insane. Maybe he needs to come on the show. I don't know, maybe we need to like help him out. Maybe he needs to come on here and we need to like do some voodoo and remove the curse because this guy is just like so cursed for crypto. And also the fact that like I love sailor.
I I actually disagree with the wholesaler thing like, oh, he's a threat to crypto, whatever. I I'm actually curious what you both think here. But but it's it's why can't nobody just explain crypt Bitcoin and normies without having to explain in some terms that make no fucking sense? Like I love Sailor, but every time he speaks, I don't even understand what the fuck he's talking about. You know what I mean? Like, and I don't think I'm an idiot, right? And so I don't know, I find it
tough. I mean, Tyler, what do you think here? Is Michael Saylor a threat to Bitcoin? So I attended his Bitcoin national speech and I actually thought it was, it was. I think that's part of like the pitch deck he's giving to like Microsoft, some of these bigger companies. I did see like some parts of the Portnoy thing, he made a very strange analogy to like playing basketball, virtual basketball with LeBron and Michael Jordan. That didn't make very much sense
at all. So I don't know, maybe he's doing a little bit too much and stretching himself thin. I think more so than the MicroStrategy risk. I think what stands out to me is, I mean they've bought what, like $10 billion worth of Bitcoin in the past month. I'm going to have to go back through and tally it. It was 2 billion yesterday. I know there was at least 2 billion last week. And we're not breaking through 100K, which Kobe said would be the hard part, right?
It was the road past 100. And then it got to easy mode. I think we're perhaps we, it just seemed too easy last week. Like we just smashed right through it. We got to one O 3 and I think folks kind of started feeling the sentiment of we're just going to start soaring and it's been a little bit of a reality check And and I think that's, you know, I mean, probably needed it just, I don't know.
I, I, it kind of just felt too easy to to me like this is such a big barrier and it's going to take a little bit more to get past it. But I think the wild card is like Sims was asking us about like the Santa, the Santa rally, like if and when that starts, incentives to sell like these next two to three weeks are, are low, right? You're taking a huge tax hit potentially like anyone who's bought this year is, is likely up a lot.
And I do think like that the not selling perhaps and when you can just wait another week or two perhaps becomes a bigger thing here in the in the near future. So I wouldn't be surprised if we see perhaps a bigger rally the last week, week and a half of December. It's kind of where my head is
right now. Yeah. I mean, we don't have data tomorrow, Mendo on the macro side, CPI on WE. Have CPI tomorrow, we have CPI tomorrow, which is you know it will be relatively important I don't think crypto's been trading versus macro. I think we've kind of had a center rally to be clear like, you know bitcoin's gone from 60K whatever 65K to to 100K what what has I think caught a lot of the participants beforehand, right? It was you own Bitcoin, you own
Solana, you own mean coins. And what's happened here is you own Bitcoin. Solana has up until since like a week after the election, Solana's really underperformed and anything Solana related is also really underperformed. So you know, you're talking about complete reversals in most like that's just to take the majors of of those memes, right, Which is like bonk drunk is back down to where it was on the 13th of November with is back to where it was basically on yeah,
on election night. And that's that's odd reflective of the whole Solana meme coin market. So like pretty much every single Solana meme coin is done as as as reversed the gains that it had since the election or, or is it is it within 10% of that? So while at the same time things like XRP has done like a 5X. So what you've really seen there is is even on this dip, Solana mean coins and Solana ecosystem coins have been the thing to underperform.
And partly I think that's, you know, Salon does have some unlocks coming in January and that's been very well telegraphed. I think that that holds some credence if it was like against Bitcoin and ETH, but like XRP also has massive unlocks coming ADA, like you know, a lot of these, a lot of these all L ones have massive unlocks coming too. So I don't really know when that regains. It's not like you could be bearish on Solana.
I think you'd be super bullish on Solana, but it has been a, it has the whole Solana plus Solana ecosystem has has really taken a hit here. Yeah. I mean, looks like we'll have to wait a little bit unless you want to add something here on that point, Tyler? I think it's just it feels harder to buy the $3 billion meme coins and like, you know, when you think about the Super cycle, perhaps that's playing out if you believe in it or not.
Like, you know, maybe the what's happening is we're going to have dozens of coins which get to 100 or 300 or 500. And I think there are a lot of participants who just want to play those ranges and then take games out to Seoul versus piling into with for Bonk at a $3 billion valuation. I mean, it's not just that though, right? Let's let's if you go to salon and meme coins on coin gecko pop cat is completely reversed. Peanut, I guess is slightly different. If I go down the list, go is
basically completely reversed. Boom, completely reversed. Giga Chad is I think kind of where it was like it's difficult with Giga Chad because it was actually lower for a long time. So yeah, Giga Chad is basically where it was like even the mid tiers, right? This is this is not this has been Moodang back despite getting listed. Even Forge is 300 million. Whoa, OK, my whoa. Oh, I'm definitely down 7 figures. Damn. Yeah, I was trying not to look. Damn. OK, Yeah, it's good day to Yeah,
it's. Painful. It's good day to just be on. I think I'm going to go watch Harry Potter 3. Chill guys about to hit 2 to go back to 200 million like that has 150,000 wallets owning it like that is. Crazy damn. That that tells you that it's a, that it's a, it's not a ticker specific thing. No, it's not a it's not like, oh, this one coin is like every single thing is just like terrible right now. It is a Solana specific thing though, like you mentioned. Yeah, that's the other.
Thing the mog is good, Pepe is good. Pepe just hit 12 billion. Yeah, Pepe and MOG are fine. Like 1.2 billion on the MOG chart on phase. Really. So what I think we need really for that part of the market to which I think will happen, it's just something like XRP to drop 3040%, which, you know, it's putting in a pretty decently bad candle right now. But like, people need to realize that they can lose money on all coins too, because these aren't, they're not buying them for the
fundamentals. They're buying them for the same reason that you buy meme coins, right? They're gambles. Yeah, because it's going $10,000. XRP to 10, you know, like USD T to five like it's it's it's that and I think largely we haven't had that so far, but I think we're we are we are about to see that like Kadano fucking XRP. I mean XRP is maybe slightly legit, but like there's a lot of Dino alts here, which I think
are about to take a bath. And then when that happens, I think that's when the you have a bit more healing, I would say in the, in the, in the mean coin streets, but for, for, for a sector which is basically one or two for mindshare and also dominates a lot of the AIS mindshare too, right? It's been a pretty bad period here for mean coins and for and
for the AI coins. Anything that's not on, anything that's not on, on Seoul has been OK, but but everything else has been a bit of a. But it's kind of like the game that you play with Solana, right? Like you, you got it. You got to kind of expect it, right? It's always going to be like that. On the Solana side. The pumps are great. Hasn't been like that hasn't
been like that all year, right? Felt pretty safe weirdly in a lot of Solana coins when the market dumps, you know, it's always the Solana coins that feel like you have buyers. And I think the main thing here has just been retail made some money buying all coins and and it wasn't a flash in the pan like they decided that they wanted to keep on. You know, those are the coins they wanted to buy back this cycle, even though they were kind of lost cycles coins,
right? Like, and they're they're they're still holding on to them. Do you know what I mean? Like it's not like they they
don't want to buy our bags. They they wanted to buy their own bags and they may buy those on dips, right, rather than any of these salon so. Well, look, looks like it's a good time to wait for me the way what I do about this like when happens I just wait it out like you don't want to you know like you if you feel like you have the strong bags like for me, my ETH beams are fine like my I only have malt and pepper there Yeah the department doors are not doing great, but whatever
it's like a tiny bag for me. I don't care it's like insignificant, but like my big bags are what chill guy? All the bags that you named are mine, sadly so chill guy is like one of my bigger positions. I must be down 50% on that right here. What is it Bonk right. Also a big position of mine go so bonk golden chill guy. Pretty much my three big swano positions and yeah. I'm not selling. Basically reversed all the gains
from the. Last, I've reversed all the gains on those, which is really painful because I was up fucked on on them. But The thing is like, to me, it's like positions that you just have to hold, you know, and, and, and you have to wait for Solana to go back because when Solana inevitably reverses, which it will, the memes will run usually harder than how Solana will run.
So anyways, Tyler, why don't we go to your to your to your top here, because I'm sure you got a lot to talk about between Emmy and Luigi. The fuck is going on around here? 4 Jelly, NFT and crypto analysis. Our top story has to be Magic Eden. The Emmy token went live for turning 9:00 AM Eastern this morning, folks. It went over $13 briefly. Since been pretty much down, only trading at 434 right now, which still puts us at a $500 million AirDrop. So massive liquidity injection
into our ecosystem here. Other headlines, crypto majors did fall as $1.4 billion were liquidated. We saw Sailor and MicroStrategy acquire another $2.1 billion of Bitcoin, I think at like a 98.5 average price. And it's not just MicroStrategy. Riot, the mining company announced another $575 million convertible bond issuance to buy more Bitcoin. So so they're getting deeper in it as well. This move token went live for
trading yesterday. It listed on Binance, I believe it opened up at 7.5 billion FTV ran past 10 billion at at peak. So there are some big buyers of the move token Jupiter. Their jubilary vote passed and there will be $860 million in tokens given to the Jupiter community in the next AirDrop, which should be right around the corner. So so some good news there. And then Bitcoin lending platform Lava announced the Series A led by coleslaw and then Peter Thiel's Founders Fund.
So that's going to be 1 to watch. I want to give an AI crypto updates since it's been about a week or so. So overall market cap down 5% of the day. It's a 7.68 billion for just the AI sector. AI16Z was one of the big winners of the day. It looks like it has flipped GOAT here this morning and is the leading AI token.
Other big winners of the day Otto, the AI Monica for Animoca brands token that was up 100% after a yeah sweet tweet Cersei and then Griffane this Griffane token, the one that that totally salon totally keeps hosting and retweeting they rolled out a saga genesis token yesterday, the first soul bound NFT for AI agents. They also teased on chain e-commerce with payment available in Griffane tokens. This thing soared to 180 billion.
So this is now a real force in the sector act one they introduced their AI agent KOL market it's called act swap. It allows buyers to provide a prompt and pay a fee to see one of the ACT agents effectively published on X in a new basically a new age AI ad market. So it was an interesting development. And then Binance listed purpose for the virtual token early this morning and that jumped to $1.70. That's 1.7 billion otherwise mean point majors as Amanda went
through it, they are quite red. The story yesterday was a mean coin tied to Luigi Mangione, the suspect in the shooting of the United Healthcare CEO. That was the runner of the day on Solana. It reached 50 million plus at peak over $180 million in volume. It has since gone down quite a bit. We saw meme land TS becoming the MicroStrategy of meme coins. So that's going to be something to watch.
And then pudgies shout out to the pudgy Penguins, now 24 each 4th ahead of that Pingu AirDrop. So. Winter is definitely here, man. Boy, did we have a good time with the Penguins at the our house and Basil on that. What is it Saturday? Love, love, love that community that's family. Let's start with let's start with magic Eden. I mean, that's the that's the bigger 1. You know, I got what, 1200 tokens something a drop. What is it?
It's not bad. It's just I was a little annoyed because in 2021 I was actually, I did quite a lot of volume on salon and FTS four years ago, three years ago and I got nothing for it. And you do this retroactive diamond thing, which I thought I did. I just I guess like I love him by the way, Emmy and stuff. Like it's just like it's getting a little annoying on these airdrops that are like not airdrops. So let's stop going on airdrops because airdrops used to be,
Hey, here's your wallet. Like, you know, check your wallet moment with the Zookie. That's an AirDrop. Feel like it's work almost, but I'm not going to complain for for for for getting free money here. But I don't know if if hyper liquid seems to have been pretty easy for everybody else. So and this one was extremely complicated, but hey, it's looking good. It's trading well. What is that 5 bucks right now? What are you doing with your hair job?
I'm going to hold I'm I'm I'm not selling this here. It's you don't sell on the red day like that. So what are you doing? I'm going to hold it. So I got like 6000 tokens, so not bad. And I think part there was a lot of flood around this, right? I think folks didn't see the diamond conversion of tokens that they wanted it. It seems like they heavily rewarded Bitcoin trading. Oh yeah, my Bitcoin wallets all
got legible. Zero of my thermal wallets got eligible, zero of my salon wallets, which is why was that? Wait, what's going on here? I was expecting like a lot, I've done volume on that thing and didn't get it is what it is. And that's why I think we're seeing a lot of cell pressure this morning. I'm in a lot of chats with a lot of folks who are just like racing to climbing dump, right? I think that's the wrong move on air drop day. I agree. I do think we'll see a rally in
this. I think the key is, do you believe in CEO Jack Lew's vision? Right, so he posted. Yesterday, last night, basically like they were trying to be on chain Binance. They want to trade more than NFTS. They want all tokens, all chains trading in their app. Like we've seen them start to do that with Bitcoin, right? Like they are probably the closest thing to a one stop shop, at least for NFTS and rooms that we've that we have on
chain. And the question is, are they going to be able to pull it off or like salon memes, ETH memes, base memes, that type of thing. And we haven't really seen them permeate those NFT markets. You know that they are available, but they're not like dominating by any means. Clearly their their dominance is in Bitcoin right now, but it's a
big vision. And if you believe they can pull it off, I think that's the bull case for the token going higher over long periods of time coupled with just the bull market environment for the launch, perhaps there's an NFT component. I think the NFT side is less interesting to me. You know, I do think the NFT market, hey, I, I said this to people at our battle. The NFT market rebounded faster than I thought it would, but I still think we are like a year away.
I think Q 4/20/25 is where if we really see like a parabolic run in NFTS, that's when it might happen. I don't think we're going to see it in Q1. So I don't think it's going to be NFT trading volume that that catapults magic Eden in the next level. It's going to have to be something else. So I think be on the lookout for new announcements from the team and like now is the time for them to to make some kind of announcement around token trading.
Because if they're just going to do the air drop claim and it's just business as usual, then like this whole on chain Binance thing, like that's just words, right? Like we, we need to see some action, I think. Yeah. If I'm them like I'm probably going to drop that announcement like what, tonight or tomorrow? Yeah, they probably have. A lot folks who are going to sell anyways. Let them sell and then reward folks who could have hold at least for 12 hours.
Yeah, you don't sell these things here. So stupid. I I, I, I was, I was so excited. I was like, fuck, yeah, I'm going to get all this thing. I, I cleaned my diamonds way back then. I I don't get, I know what happened. I don't know what happened. I did the whole diamond. I had a lot of diamonds, dude. Like, I don't know. You had to trade with all those wallets on Magic Eden too. Yeah, no, yeah. Anyway, so, so it is what it is.
We'll see where it goes. But to me like I think it's a bullish air drop, but it's just a terrible market conditions today. Let's. Talk about another thing. So everyone loves to well, I don't want to throw people on the bus. We universally flood pre market trading evaluations. Yeah, I think part of that is tied to what we. Well, because it's been pretty bad the pre market valuations,
right and. I'm not going to and I'm not going to argue with that like we consistently were trading 30 to 50. Percent like portal etcetera, you know? Large value on the pre markets. This one came out at pre market levels, so it was trading in the five to six range for a solid hour. Now it's at 4:50, so I guess it's down 30% from where it closed, but I don't know. No, I feel like we got like we actually got a decent read from the whales market trading on
this. One, maybe it makes more sense in the bull market, I don't know. What do you think, Mando? Premarket. Yeah, what did you did you play this one? Imagine getting Did you get your AirDrop? I have an AirDrop. I need to I need to claim it or have I missed it? No, you have a long, long window to climb. OK, I'll claim it. I think it's probably over valid where it is right now, but at the same time, hyper liquid, you know, hyper liquid is at 12 or I don't even know of today where it is.
But if they're going after that, then 13 billion. If they're going after that, then yeah, maybe, maybe you can justify a high price target. I mean it is bull market after all. I know it doesn't look like it right now, but it is it is definitely a bull market right now. So you cannot have like to to revise all your stuff like even move I even see I. Haven't even had a chance to really catch up. I'm not exactly sure what move even is.
Me neither. I just know I spoke on the movement stage in Korea. That's the last time I saw that brand. But I I that opened like it's insane. It's insane stuff is going on. So I guess we'll see. It's just weird, right? When you have all these things, all these valuations and you have the market like turbo dumping at the same time, like going through like doing through all these liquidations. So I think we have to wait a little bit. This is a terrible time to trade, by the way.
Yeah, it ended up being kind of bad timing. Like this looked like it was going to be a great setup and then. Yeah. You can never get it perfect, right? And then we had two back-to-back sell off days. Yeah, it is what it is. You know, it's probably going to keep selling off a little bit here and and then things are going to be, things are going to be fine after all the CPI bullshit tomorrow because everybody loves to think that macro and all these things matter a lot.
Biggest CPI in the world? The Mando tomorrow. Biggest ever history of CPI's. I don't, yeah, I don't think, I don't think crypto cares about the CPR right now. I think it cares around Bitcoin. And if Bitcoin goes lower, I think there'll be more and more commentary around Sailor. What's the thing, like, you have Eric Trump right now? Is that the MENA? You know, there's a huge Bitcoin conference happening in the Middle East right now.
And Eric Trump three hours ago calling for $1,000,000 Bitcoin. His dad's about to become president. OK, in like what, a couple, a few weeks in a month from now? Russia is like Bitcoin Federal Reserve. You have a ton of positive Bitcoin momentum going on. So it's like, you know, it's like this, this weird thing happening right now. I think I think we'll be fine, boys. I think we'll be fine. Anyways, besides that, Tyler, what's up with this Luigi thing, man? So what did Gainzy do?
Like I, I caught up to the whole Gainzy thing. Hold on. Like they actually thought it was Gainzy. I don't even really want to touch that. But yeah, someone basically, like Photoshopped gains his face onto some of those early images of the suspect and the United States murder. And people like, believed it and it like went viral on X So and like, it didn't get community noted for a very long time.
And then I think it finally did. But yesterday the news came out like, this person was identified. And it looks like there's a lot to the story. He had like a manifesto online. It looks like either his mom or him have had some history with, with back pain, perhaps a back surgery and that went wrong and and maybe United Healthcare didn't handle it appropriately. I haven't had a chance to dig into this whole story, but that that's the high level that I've
gotten. He had some vendetta against United Healthcare. There's also folks who are like deep in the conspiracy theories. He was a government plant that the way he was caught, he was like showing ID at a McDonald's. Like it just didn't add up. So there's folks who aren't buying it. But anyways, it's like this, this person was the viral character. He was the main character yesterday. Not just for Twitter, like for for everyone, like like in the US, probably, perhaps across the world.
And of course, D Jen's launched a token and won one and it went in just like six hours. So it launched at 12:30 Central. By 7:15 it was at 55,000,000. So in six hours it went zero to 50. And now it's basically been down only since then. Yeah. I don't know, like some people thought that this thing was going to last longer than a couple days, but unless you get some crazy like didn't he make a YouTube channel with like videos coming out some of some shit? Something like that.
It looked like there perhaps was like a a trail of bread crumbs. But yeah, I don't know if any of that has panned out just yet. Yeah, I guess we'll see on that front. And then what else I what I miss? I probably missed a lot and we'll probably be in better shape tomorrow, but. We can save some of the AI stuff, of course. That's what I want to talk about. We don't have time, Pudgies,
pingo, pingo token. So just quickly, I think one of the takeaways from Art Basel, boots on the ground, the pudgy folks are, are walking around with a little extra swag and it feels like now is our time. I'll put myself in that group. I mean you are. What do you mean you've been rocking the PFP for what forever did? Long time and Pingu token came out I I feel like it was a brilliant way that they set it up on Solana.
Strong unit bias, pure game coin and it's not tied to abstract, which is a very different thing, right? And and they're like to be objective. I think for abstract, like abstract is going to have to prove itself right. Like evaluating an L2 is different than evaluating an amine coin. Now that they're they're separated, but the Pingu token is front running it. So if Pingu does well, now you have all this additional momentum ahead of an abstract
loss. You have wealthier holders and I mean the, the market is rapidly repricing the the NFTS. So they're up, they're up 70% on the week. Now they're at 23.8. The napkin map is already kind of circulating like a a billion dollar market cap for Pingu. I think it's a $23,000 AirDrop per Pudgy. I have to go back and look. Through all the numbers. All right, nice stopping Penguin. So it was pretty good for me. It's exciting, man. I I think I think he did the right thing with the salon and
stuff. It was it was definitely the right way to go. Obviously big fan. I mean, I'm close friend of Lucas, right? So obviously going to support what he does, but it's exciting and it's it's I mean, he's bought. Some pictures with sailor which sailor's not like the a bad enough guy. Yeah, that's things people still like. We need to get Sailor on this show, guys, We, we, we gotta get Michael. I'll ask Luca. I'll ask Luca. Listen, we gotta get sailor on dude, That'll be so funny.
It'll be great. Listen, no, it's good. It's it's not tied to abstract too much, but it is a little bit like he's air dropping abstract companies, some tokens. He's like he's using it as a way it's like bringing attention back to abstract and stuff. So it's separate from like the abstract, you know, future TG plan, etcetera. But in a way, it's tied in terms of mindshare, right? Because it's, it's, it's in order to like bring it back to that. And he broke.
He paid. Attention to his sell off boys like this is fucking wild. Uh. Oh, I'm not. What's going on? Which I. Was about to go below 200. Oh fuck. Oh my God, let's see. Whoops, hold on. Yeah, alts are going pretty red here. Oh shit. Oh well, first time. This is a proper fucking sell off now. Oh baby, oh baby what? Was all at at at peak here. 2. 2. 60 yeah, 260 so yeah, that's. Holy fucking fuck to not look at your portfolio today lads.
And people probably longed the dip last night, so now they're they're just going to get liquidated. Yeah, I don't know what the liquidations are like today, but. Let's see the liquidation. So it's it's on coin alliance or or coin glass. Coin glass liquidation liquidation map here you go. No, no. That's on liquidation in general in the last hour, 91 mil. No surely more. Here it says 1 less hour, one hour wrecked 4 hours 100 and. 24 hours is 1.6 billion. Yeah, 1.6 billion, 24 hours.
Jesus Christ. It's a lot. It's. A lot of money. I thankfully have no leverage, but my leverage is memes, and my memes are absolutely decimated here. The good thing about your memes is they is they can rebound if. You're that's the thing that's. Longest liquidated. I can't. Yeah. That's why I let go all the leverage. I played the last run up on live and then I emptied the account. But this is insane. Let's look at 24 hours here.
Yeah, mostly. Well a lot of ETH longs liquidated 240 mil on ETH other is 500 mil. K And it's, I mean, it's back under 36 now. Jesus, please look at ETH. US look at ETH here Oh wow, this red candle on the floor. Look at that one. Look at that bad boy over here. Holy. So now this turned into a terrible day for Magic Kaden to launch their. Poor them. I mean, fuck, you know, the team worked really hard. Look at that Solano. Yikes. Yikes. Any bulls no giga? No Giga. What do?
What do we think here, Amanda? What do we? What do you think here? I bounce yesterday after after you get a liquidations like that, that's normally a, you know, that's normally a a bounce territory. The only, the only other time you get liquidations like that is actually at the top and then it doesn't bounce back. Do you know what I mean? Yeah, like 1.7 billion, nearly 600,000 traders were liquidated. So generally, and we did, we have one of those in April, we have one of those in August.
I think August was the worst in recent memory. Now this is this has got to be one of the worst 48 hours in crypto for a long time. I mean, it's not for Bitcoin. This is the thing like it's only for alts. Alts have this like gigantic run up and again not really Solana memecoins memecoins but but like other alts. Yeah. Kind of crazy to see it looks like, I think Bitcoin doesn't look like it's going to bounce so. Here's the thing. So we we were at 67,000 into the election.
So we added 50% basically in three weeks. I don't know, I feel like it shouldn't be a surprise to have a 10 to 15% pull back. But if people were offsides and then yeah, like now everyone was starting to rotate to alts, which were going up only and now they're they're getting hit a bit. Yeah, like XLP is about to go below 2. That was nearly at 3:00. We could probably test ADK here. Fuck if it keeps going. Hopefully not. Yeah, I mean, XRP has a lot of
room to fall, right? Look, if you bring up the XRP chart like that's not a pretty chart if it breaks an uptrend. Let's see, let's look at this XRP chart. Oh Jesus all. Right, do it on a weekly. Right. Yeah, it's weekly. It's like that could pretty comfortably go back to. One. Yeah, right there, here, here.
Yeah. Jesus Christ. So So what I do think though is if you've been battered in Solana Meekos, like as I just said, I think what you'll see here is probably a slight rotation back as this plays out, but. Well, the good thing is Solana Meekos got battered before the rest. What we haven't talked about is like, DJ's just got 500 million from Magic Eden. Like where's that money going to go? Probably solana Solana memes. I don't think it's going to ruins and they like ordinals and
stuff. Though it was a lot of ordinals people that got rewarded. I like, I don't know if my ordinals, my ruins going to pump here. I think it's going to my bags, yeah. I think so too. I was going to buy alts so I. Think I'd be very wary on alts here. Like think about the people that bought alts. It wasn't all of us, it was a bunch of retail people that came in. That's true.
I would be very wary on buying that bounce in size like they all just pretty much every single alt just broke that That uptrend it was in which salaamine coins broke 3 weeks ago and then are now all back to where they were. It's got BTC dominance. Fly. Do. You know what I mean? Like, I feel as though the trade here is actually to buy some on the mean coins. But you need to like close your eyes and and pray to pray to the Almighty when you're doing that, I think. But yeah.
BTC dominance is God handling. Yeah, I mean, I still, I still comfortably blow where it was. But yeah, like all, all coins could fall a lot like bring up like the ADA chart, bring up the AVAX chart, bring up the. Oh my God. Like. There's no support. It's like here. Every single one of them just broke like a a pretty beautiful uptrend.
Solana broke it three weeks ago. If you'd actually look at the Solana chart, like Solana, yeah, like peaked out kind of second week, third week of of November. And whereas all of these guys peaked like last week. So my guess is old school bleed here for a couple of weeks and you maybe get a rotation back. That's that's purely guessing. It's not like Solano chart looks great either, but I don't know who's buying. We're not all buying those old coins.
So you have to hope the retail buys that and and. I'm good. I'm not touching I. Don't know, Like they're probably up a lot. They probably don't need to necessarily buy this dip right now. I'm not buying old coins, not touching odds. I, I, I, I don't know. We'll see where Solana goes. But it's just these when you see these flushes a lot, though, guys, like every bull mark is like that, right? You always get like a disgusting wipeout. Are you calling the top?
Do you get this? Bull markets, you do get this, yeah. You calling the top here? No, not at all. I'm what I'm trying to tell you is that when you don't bounce after liquidation that high, that is an incredibly bearish sign. I'm not saying it's the top or anything like that.
But what that tells me is that, yeah, like watch out on those old coins because when when people get liquidated like that 600,000 and then all those altcoins turn around and put in fresh lows the next day, that's bad. That's bad. Yeah, wow. Oh, wow. Like. XRP just put in a fresh low for instance yesterday. So did AVAX is around that level? Yeah it looks like Solana actually hit like 200 so it hasn't yet. But Jesus Christ some of these chill guys at 290. Fuck, what the fuck?
I have a bag of that. Yeah. This is this is just a time to chill, you know? You have no choice really. You know, I, I don't do shit in those times. I just wait, you know? Yeah, funding at least isn't hasn't been high all the way up, but it's definitely not like some sort of crazy elevated level. This has just been a complete wipeout of people. Yeah, funding's OK. I definitely look for what looks strong on a day like today, so like the things that haven't really gone that much lower.
Like what? Well, to be honest, the mages actually still look all right. Like ETH finance coin. I mean doors doesn't look too bad. Yeah. Jesus. It doesn't look great. Yeah, Rekt's up 12%. I'm just coming in to say that, you know. Yeah, rekt is up. Rekt is. Up rekt is definitely up. Jesus Christ getting. Priced up the the pudgies, right? Look at that. Yeah, it's. It's a nice chart. How's everything all right well look looks like we're in for a little ride it look.
I don't think we can do the loot box twins gas because we don't have video at all. I mean people can see us, but they can't we they can't hear us or anything, so that'll be tough. We may have to do that tomorrow when stream yard is fixed right since so we're looking. And it's storing as well, so there's an issue there side for sure, it just won't be right. Yeah, it's everything's broken.
So today just sucks as a whole. I mean, you just got I'm at a point I used to, you know, I used to stress out times. I used to text my no, yo, what am I doing? And I just so used to this time I'm just like, I just fucking wait, you know, is. This wild because everyone just got like 4000 to $20,000 from Magic Eden. Feels like that good sentiment is like wiped out. Terrible day for the AirDrop, terrible day for the air drop. We probably get one of those disgusting as salon of wigs very
soon. Like those, Like long ones like that one. Yeah, I'm looking, that's my number one chart right now is looking at Salon of Dominance because I think if that starts to turn, then I actually think it's healthy for the market because I think these Dino walls like no one's coming to save you if you want to notice unless you get some other retail guy to come in and buy it. But dude, hi everyone, get on TikTok. OK? I need everybody. It was like 700 people in this space.
By the way. Hey, everybody on TikTok right now, OK? Just get a get on TikTok, get a get on Instagram. You call your family, you know how you showed everything at all time highs them at Thanksgiving? Well, you tell them they got a chance here. Like that, like that girl doing the dances and TikTok just. Crying. Chill guy, go. My chill guy, my goat, my bunk bags do this, all right? I'm not even going to open my wallet today.
Like, you know, there's some days like this I don't even log into my Phantom. Yeah, maybe don't check it today. No, no I'm not. I haven't looked at a single chart of the coins I own. It's also a good way to cope, by the way, just don't look at the charts you own. Just, you know, just be a chill guy or just own mug and just, you know, you could just leave own mug. Never have to worry. It's cycle. Knock on wood and FADYOR. You know, I thought about doing that during our basil.
I didn't, but that was the right trade. That was the right trade when everything was up a lot. That's the right trait. So what are you looking at when you look at salon dominance here? Mando, I have the chart open. What do you look at here? Like where? Where is salon dominance flipping for you here? 288 Like what? Let me have a look. What do you where do you look for salon dominance to bottom out I. Don't know where it's going to bottom out.
I, I feel like it's very low right now compared to what's going on in the space. You know, I thought salon dominance would go up in the bull market. I really did. I thought if we're going to have an altcoin season, salon dominance could go up to like 5 or 6 and for it to go down to to 2.9. Like I don't think many people had that on their bingo card for what would happen in altcoin season. OK, well it's just another day in the bull market y'all. Don't worry, Santa's coming soon.
Chala. I don't know what to say anymore. I'm tired dude. I I think I'm going to go. So I'm doing a Harry. Potter over time, you're you're running our longest show. Yeah, I'm, I'm, I'm doing Harry Potter marathon right now and I'm on the third one, so I'm going to go watch Harry Potter 3 respectfully and turn my brake. Off trying to a pillow, respectfully. Respectfully, thank you for understanding Farouk is going to take the rest of the day off.
He's going to go watch Harry Potter 3 and and just come back tomorrow to hopefully my bags pumping and bouncing pretty hard. But for now, I think we're just not going to look at anything, you know, sounds. Good then. I think. I think I think that's what I'm I mean, what is keyboard monkey saying? God, I hate him sometimes Jesus, he's calling for 180 and 3200. All right, well, that means that we're not getting there. So at least you're good guys.
You know 180 sold, though. God, I wish I had some dry powder. That's a nice price. It's not going to lie. If you have some dry powder, you're very lucky today. This week. We'll be fine. Don't worry. DJ TS coming to town very soon. He's the real Santa this year. OK. You know. And exactly. And with that. So we end it. We're good, boys. I think we're done. All right, all right. We're done. We're that we're that. We're so tired. We'll see all tomorrow morning.
Oh, wait. Tyler, aren't you hosting in 45 minutes? Yes. No video. Oh, you're not going to be able to video? We'll just do a space. So Tyler has a Twitter space with these in 45 minutes for underexposed, clearly overexposed now. Under underexposed to Salon, the meme going. So Tyler's going to have to change the name of the show already. We thought it was going to be funny in the bear market to change the show's name to Overexposed. By my bags is the name of the
show. Yeah, if you guys want, it's going to be a bag. It's pretty hard for me to tell you which are my bags, yeah. He's going to fucking show AI for a fucking hour in 40, 5 minutes. So don't worry, we still have some good stuff for your rock radio underexposed 49 minutes. A decent Peter Jennings with that with that, with that. We'll see you tomorrow morning, Teddy. I'm Eastern Standard Time for the episode on rock radio when Guardian Liviosa motherfuckers peace out.