Good morning, good morning, everyone. GMGM and welcome to another episode of Homo Hour May. Today is Wednesday, April 30th, 2025. Last day of April in the books here folks. In Hadley. Our green streak is over. A bad GDP report in the US has set broader markets lower. Recession odds are up. Crypto not immune from this draw down. The board is red. Now the question on our minds, was this last rally a bull trap or just a blip on the way up? We're going to break it all down
on today's show. Manda will be joining us here in a few minutes, but we've got Logan on with us. Logan GN, How you doing? Hey, good morning, Tyler. Doing well. Not too much to report. Weather is beautiful here as always and feeling pretty good. Your final week in Peru. Yeah, just a few days, a few days left. I'm I'm, I'm going to miss it.
It's going to be bittersweet. A long time here, but I've I've enjoyed it. And maybe you will be shocked when you return and see what prices are in the US cause according to the CDP report, inflation is is is spiking. I I'm going to be shocked. I I just got a dinner actually
by myself last night. My fiance was out with some of the other students and I checked my, you know, just checked my credit card statement as randomly and I noticed that the burger that I got, which was excellent by the way, was $7.00 a burger and a drink for dinner. Let's go. Yeah. Well, now you know that time to talk. You can just go back to Peru and try to save some capital folks. What are we talking about on today's show? We're going to start with the
market report. Recession fears looming odds of rate cuts going up, though perhaps a silver lining. Crypto had been chopping now dipping. We'll see if Bitcoin 93 K holds might do a little look back Trump's first 100 days in the books, the first crypto president. Also some news about Trump very related, true social exploring a token and a digital law. What is that going to mean for markets? We've got a scandal brewing with movement. Some new details were leaked here this morning.
More tokenization headlines, Black rocks tokenizing a fund. The TUM Foundation is launching a $500 million tokenized debt fund. We've got the NASDAQ. They want that DOGE ETF. They're pushing hard for the DOGE ETF. The sole trenches folks, they were on fire, but maybe they just local tops. We'll talk about that. A new token launchpad from Ding,
a Ling and a whole lot more. Before we dive in, shout out to our partner Wallet Connect. Wallet Connect is the connectivity network shaping the future of on chain UX. If you've connected to a Web 3 app, you've seen wallet connect, that blue logo, it's everywhere. And I kind of trust in crypto as recognizable as Visa at the checkout. If you want to learn more, follow at wallet connect on X and Telegram. Stay ahead of what's next,
folks. Heat. We've also got the heat spin at the end of the show, so you want to stay tuned for that, folks? We've got Mando in the house now. Mando, Jim, how you doing? Jim, guys, how are you guys? I was just trying to survive our our first red day in what feels like a week or so here, but I think we'll we'll be able to get through it if you're ready. Without further ado, I say let's just dive right in to the market. Who is the man Macro daddy of the land? Can you dig it?
Yeah. So this is definitely a day where macro kind of derailed us slightly. We'd had a basically a whole week of gains in stocks. And then today we had a kind of like a double whammy of bad data. Firstly, we had preliminary GDP numbers coming out of the US which showed a contraction negative nought .3% versus nought .3% expected. That's not a great sign for Q1. Remember Q1, the majority of these tariffs hadn't even happened.
So definitely not a good look. And then core PCE, which is the inflation rate also came in quite a bit above expectations at 3 1/2%. So even before the tariffs came in, largely we had a slowing economy and higher inflation. This is classic stagflation that people will point to. I don't really know for crypto in this sort of environment, like crypto in the stagflation environment is not necessarily the worst possible thing, at least for Bitcoin, but it's it's
not a great environment. Often for stocks, higher inflation, lower growth is, is normally pretty, pretty bad. And it also points to how hamstrung the the Fed can be in dealing with it. Remember, because if inflation's going up, the Fed actually can't do that much. So definitely not, not like a great scenario here for macro, at least in terms of how the market reacted to it. I mean, Bitcoin's down a little bit. Again, down 2% on the back of that. Bitcoin dominance is about to hit 95%.
I think it nearly did actually at one point this morning. Sorry, 65%. So Bitcoin holding up again, much better than everything else. We kind of throw a nuke in. Not really a nuke, but the stuff that had been running up all got bashed down straight away. So like the AI coins, the meme coins, all all not having a great day. Probably down around 10%, I would say on average for some of the major or like maybe like, yeah, 5 to 15% kind of range for a lot of these coins down.
So, yeah, not not a great, great day for, for like the more risky stuff. And probably just points to the idea that we're not at the words from a macro perspective. But interestingly, like Bitcoin's narrative has been kind of that doesn't matter recently. Like it's more that, you know, global liquidity is going higher and and US hegemony is going down and Bitcoin's a hedge for that. I kind of think that that also increases with these sort of figures.
So I would be unsurprised if Bitcoin bounces here or like doesn't have as bad a day as as you may maybe would expect it to. Despite stocks having a weekday, I think we'll outperform again on the back of this stocks look like they're having not a great day today. You've got, you got the NASDAQ looks like it's down about two percent, 2 1/2% right now. So yeah, that's not, that's nearly 3% actually. But interestingly, gold is going
higher again. Gold had like a bit of a dip and and it's interestingly bounced as soon as that figure comes out, comes out. So I think that's basically what I'm saying. Again, I think this is just another world where Bitcoin dominance goes higher and and people maybe get even more scared about the macro prospect for the next year. Trump's basically come out and and trying to blame everyone else.
To be fair, this is Q1. So again, this is probably before a lot of his his policies have kind of come in, but I wouldn't say his policies are necessarily going to make him better. Yeah, I think that's a fair assumption. We've seen him come out and say this is Biden's stock market, not Trump's, which aligns with some things he said earlier. But now I've seen the screenshots as well where he said this is our stock market.
So on the green days, it says on the red days, it's still Biden's. Not a massive surprise. Sort of, sort of. Art of the Deal. No, that game, well, Wiz summarized it here. You know, GDP down, personal consumption's down and then inflation was up, prices up. The price is up. Really surprised me. I'm not, I'm not going to lie. That was my most surprising thing from all. So I actually thought I, I've seen forecast that that Q1 GDP was going much lower than this actually.
So I, I thought we all just knew that that was coming. So I was a bit. Surprised the Atlanta Fed yeah regularly posts wildly like wild GDP figures which are like way off from all the other feds. Like because often different states have their own Federal Reserve essentially and they always get picked up by the like the mainstream media. I think they predicted what -2 1/2 percent or something for Q1. It's 3.7 at one point I think I saw yeah.
Like they are always wobbly off. Like if you want to just engagement farm, you tweet about what the Atlanta fed thinks and they they they were really low. I think most people obviously there was a broader prediction that this would be like nought .3% it would be lower, but not as low as that.
This going down is just I think it's just it's just bad because it's Q1 like remember Liberation Day was was April 5th was it yeah, it was a beautiful day inflate true inflation is still low so like yeah that that's still in effect but. This is what surprises me. This this does surprise me too.
Like I've been genuinely surprised at this because of what I can tell there is some there is some real inflation going on in the US. Like there was this headline yesterday that, you know, Trump was fighting with Amazon because Amazon, Amazon we're going to like say, you know, the prices are going up because of these tariffs. And this is how much Amazon aren't trying to like get price gouge here. Like Amazon are always trying to
be the lowest cost, right? So I was surprised at that, that that inflation has stayed low because I do think you guys are going to have some inflation here on the back of it and maybe maybe true inflation is obviously more of a lagging indicator. It's not, it's not a, it's not a forward-looking indicator. Yeah, I think it's the disconnect that's been what's surprising slash confusing to me is like how this can be so low at 1.6%. Now we're seeing 3 1/2% via other reporting mechanisms.
I guess as a consumer, I I don't feel like we've seen price of goods go up in Q1. In fact, I think there's a lot of things that are that are cheaper. The gas is cheaper. I'm I'm pretty confident, which is a big one. I guess I don't, maybe I don't have my finger on the pulse of rent, but I do believe like that, yes, we will see it go up like we're saying like the tariffs increasing prices. I think that's, that's hard to
argue with. I'm not going to argue against that, but we haven't really seen that hit yet. Like I, I, I get it for Q2 and, and looking ahead, but I was surprised to see a lagging indicator showing at that one much higher. I think the other piece here, which is still like maybe counterintuitive to me is the the CME now pricing in 41% chance of four rate cuts by the end of 2025 and five cuts still 28%. So 70% chance of four to five cuts in 2025.
But on the flip side, if you're face, if you're dealing with inflation in your palate, how do you how do you cut rates with looming inflation driven by tariffs? So like are, are they just betting? Yeah. That's kind of aggressive position. I, I didn't realize it was pricing in that many at this stage. I, it's difficult to know, right? Like what are you going to do with your pal here?
Like if we start to go into recession and inflation starts rising, I don't know if rate cuts would be the tool that I would use. Do you know what I mean? Because they're, they're like the most obvious tool, but he might just like turn on QE rather than like do rate cuts. That's what I would do if I were him. Like I'd try and like increase money supply but not a lot of race cuts basically. Something's going to give.
I mean a lot of folks are are betting on that something giving and I think that's a part of the bull case for Bitcoin here. Sorry about that. And Bitcoin still does feel like it's, I don't know if I would say outperform, I think broadly outperforming today it's down 1.7%. That's basically in line with how the stock market indexes are down, each down 4% sold, down 4% here as as well. Running through a few of the other headlines. I won't get to the Trump stuff here in a minute, man.
No, I saw you tweet this out this morning. I'm not sure if you had a chance to to dig into this. It's. Wild. To scale the movement. So, So Coindesk is leaking all the the contracts tied to this effectively. Movement Foundation signed this deal with Web Port Labs to give them a a good chunk of their tokens and they had a clause in their contract that if Move hit a $5 billion valuation, they
could sell, which Move did. And then they instantly market sold, which I believe led to the finance investigation of them. I've not had a chance to dig into this. I'm curious if you got a take on this one. And. I think this follows out from what we saw pretty recently with Mantra, right?
There's clearly been some deals from some of these L ones or like VC back projects with I mean, everyone's trying to like point the the finger of blame at market makers, but these people get into deals with market makers who basically say, look, we can be culpable, give us all your supply, we'll sell it for you basically and obviously has to hit certain levels, but we will we will sell it for you. And I think that's what
happened. Really what happened with with mantra, it's similarly there's some talk about happening with things like story protocol. Remember that went down a lot at one stage and there's been a lot of expectation that they might be involved in something here. And then finally it's with it's with with move. I mean, I story, I don't know, but I just, I know I've heard other things around there.
But yeah, it's it's just clear that some of these, you do get involved in these sort of deals and these guys at movement, they gave up 50% of the circulating ecosystem supply for this 50%. And then they've turned around and said, oh, we didn't know, we got duped into this. Somebody did this, but it wasn't me. And it's just. Guys who did this? It's just hilarious. We will get to the bottom of the we're going to do an internal investigation. How did that Libra investigation
go with Meow, by the way? Anyone. Anyone checked in on those guys recently? Yeah. Bullish internal investigation by a by web three companies. That's what's going on. Movement, The movement team are going to get to the bottom of what happened here, OK? You you can rest assured they're they're going to get to the bottom of this. They made $35 million. We are going to, we are going to
find out what happened. I think basically that the take away for me is if you know, if you're watching any of these altcoins and they're and they're showing explosive price action that doesn't really jive or or pass the the gut, the gut test maybe something else is going on. Yeah, I think it's sad. Unfortunately, we've seen that play out a few times here this year. I don't I'd be surprised if we don't see it again, Right. I think that's another unfortunate take away.
Quick, quick side folks, if you are watching, the code for today is house raffle block code is house for those for that eat action later on in the show. Well, those are some of the headlines. I'll go quickly through a few others. Let's see, we'll get to Trump here in a second. A few tokenization headlines. Telegram, they're launching $500 million on chain fund for their to tokenize their debt, access to $2.4 billion in debt from the Telegram Foundation. That was a big one.
BlackRock announced something similar and then Sofi announcing return to crypto under a more crypto friendly deregulated Trump administration, which might be a good sake to Trump's first 100 days. So, So Logan, we were chatting a little bit about this before the show. And Mando, curious for your thoughts as well focus more specifically from a crypto standpoint. Curious for your thoughts on Trump's first 100 days in the books and maybe a grade rating AMF.
Yeah, well, if you scroll through this article, which I, I highly encourage everybody to do from Liz at the Crypt, it's a good summary of all the things. There's been so many headlines over the course of the last few months. It's a really good summary of like things that have actually gotten done, many of which were hoped to have been done a long
time ago. And the previous administration, right, put kind of either the kibosh or, you know, an outward attack and in some instances against those things. So yeah, it's what the crypto broker rule or the first pro crypto legislation signed. You have the the pardoning of Ross Albright. You have, my gosh, there's so much else in here, right? You have the strategic reserve.
There's a, there's a lot of things that were promised or that were said or rumored whilst Trump was on the campaign trail that pro crypto people were excited about that he actually, you know, either made inroads towards or literally got done. And so I think if you're, if you're viewing this from a crypto lens and you remove maybe the meme coins, you're not included here, right? That's not like policy type stuff that's included here. I think the grade is, is pretty
good. It's probably in like the B minus range. It might even be higher. You know, it's tough for me to extract the the meme coin stuff, I think. I think, I think that's a part of it. So I want you to include that. Yeah, I think if you include the meme coin stuff, I I think yeah, B -, C plus and I could see arguments for a little bit lower just because that is the stuff and we talk about movement and all the shady stuff going on here.
Those are the types of things that bring on the scrutiny and warrant warrant detractors and warrant people considering that they this industry is like not so serious like because many times it's not. So those, those are the things that I would say tremendously bring down the grade, you know, all the, the world liberty financial stuff, the, you know, potential enrichment of Trump and his family via these things that he didn't need to probably do, like launch 2 mean coins.
Those are the things that I totally understand would bring and and I personally would ascribe to bringing the grade down significantly. Otherwise, the pro crypto things that have gotten done have been, you know, largely exciting. I I would say for for somebody who's actively participating and working in the space. Yeah, I made my list before I kind of went to the article of things that I could remember him
getting done. So Bitcoin Reserve top of the list, some pro crypto appointments helping to change the the SEC guard, SEC then going on to effectively drop all their lawsuits pretty much across the board. Most would say we're kind of wrongfully brought in the 1st place stable coin legislation now already in process increased M&A activity in the broader crypto space returned to the US.
So five that the latest bank saying, hey, now we're going to come back and launch full crypto services freeing Ross and I missed a few of the others from the article like setting up the crypto task force, having that first crypto round table and a few other things. So I think objectively from a crypto lens, a pretty wildly successful 1st 100 days. From a policy standpoint, I would give it an A but coupled with the meme coin, coupled with World Liberty 5, coupled with
now this true social token. I I'm down, I knock it to AB minus and I can I can listen to an argument to take my grade lower because it really does money. All this, it changes the political calculus and it we are at increasing rate of if the if the guard changes, will the other team try to flip some of this?
Right, that's what. Sorry, Tyler, I was reading an article from The Hill, you know, more political focused publication about this, this sort of same thing, right, The first 100 days under Trump and the the crypto reflection as
well. You know, there and there's some mention in there about Democrats that you know, previously may have been willing to listen to bipartisan bills about crypto feeling like if they now sort of submit to this, that they are becoming too pro Trump in their constituents eyes, right?
And that's all that political stuff that if you are, you know, if you're on the other side, if you're anti Trump, you know, for whatever reason the case is, and you see these headlines like yesterday, true social may be doing a token and I'm sorry, Trump media, global, whatever may be doing a token and Trump enriching himself in that way. Like I, I get it, I get it.
He doesn't. It doesn't need to happen and it feels grifty and it feels bad and and those are the types of things that could set back a lot of the progress that it has been made via policy and regulation thus far. And if you recall, the the elections this last fall elected a lot of candidates that were pro crypto from both sides. And you don't want to lose those as a result of something silly because you Trump had to keep getting rich on the next token.
Totally agree. Amanda, curious for your thoughts from a from a more of a global perspective, you know? Outside, I think you you guys both hit a nail on the head. I think that's the feeling for everyone The, the at least within crypto, I think you couldn't have really asked for more, but it's been tarnished, I think by just efforts to potentially personally ingratiate himself and and kind
of the family. It's very, very clear that when Trump leaves office, he's actually going to be still in like a very prime position here in US crypto. He's kind of setting, this is his retirement plan, in my opinion, like the Trump Trump is going to be, is kind of setting himself to be a very much centre stage in crypto post office and so is the family. So I think let's see where that kind of goes. I don't think it was necessarily needed, but maybe it wasn't necessarily needed.
But perhaps we were all naive to think that it you didn't need somebody who was going to be massively personally incentivized to push all of this stuff through Washington. So maybe, yeah, maybe we were talking naive about that. But it does feel as though that's that's got in the way of stuff. Do I feel like it's it's going to get in the way of stuff for the long term?
Less so like less so I do think there's part of this like crime season method that's going to come in, which is perhaps not great and probably will continue for a while, I think. But but I would say most of like the long term stuff, like in 10 years, I think we're going to look back and be like, wow, who's really positive for crypto?
It's just it's kind of we're going to make sure we take a a slice of slice off the top feels kind of banana, banana republicy for for the US. Yeah, I think that's very fair. You know, I'm duly aligned. We just, I feel like we just can't get there because there's always like this chance that he's just going to do something over the top and it's all going to come crashing down somehow and we just have to be on our guard. Let's get let's get into now the transition to the the latest news.
So more Trump tokens perhaps incoming. Logan, you wrote the article. Walk us through this one. Yeah, this broke yesterday and near the end of the day, a shareholder letter from Trump Media, Trump Global Media, which is a publicly traded company. They have Truth Social, of course, the kind of like ex Twitter clone, right, that was set to free Americans who had been kind of de platformed or banned from Twitter or whatever the case is.
They also have a streaming platform called Truth Plus, same sort of thing, streaming video streaming and announced Truth Fi back in January. But all that being said, they are looking to potentially launch a token and a wallet to kind of provide a utility, the utility token for this ecosystem, the Truth ecosystem, those three products that I was just mentioning. So yeah, it says here that quote from Devin Nunez. As part of the rewards program,
we're exploring a utility token. There's no mention of crypto or there's no mention of blockchain. But I think you can draw the the lines here given Trump's connection to them and all the other, you know, connections to blockchain from, you know, world liberty, etcetera, from his family as well. So we don't know exactly what it might look like or if and when it may come. But we do know the other products, for example, they applied for ETFs truth fi that one arm.
Yep, we do know that those other products, per that shareholder letter are anticipated to be out there this year. They're they're expecting to get them out there this year. 1 is a Bitcoin ETF. They also they're all America first themed. So there's like a mix of crypto and traditional equities that are, you know, America first that people will likely be able to invest in.
Trump global media said they're going to invest right alongside and they did also in January. And I think it's, it's reiterated in the letter yesterday, indicate that they are going to use up to 250 million of their cash reserves to buy things like Bitcoin and other cryptocurrencies as well. That's kind of an aside. I missed that. Yeah. I think it's in the article, maybe near the bottom. It may have been edited out, I don't know. But anyway.
Yeah, well, let's look for that. But the broader story, another Trump token. So we had the Trump meme, We've got Melania. We've got the World Liberty 5 token, which isn't tradable yet, but it's coming. So we've got 3. This will be #4 How many Trump ecosystem tokens do you think we have by end of his presidency? What's your over under? My gosh, we're at 4 now.
I mean it wouldn't shock me to see 10 like I I don't even know because because what what will end up happening here is they'll make a bunch of money on a truth token, right?
I'm of course speculating, but like they'll make a bunch of money on a truth token and then they'll decide that the token for truth Phi should be different than the token from truth plus, because they made a bunch of money on the truth plus token right and then there'll be a token for truth social as well and then all those tokens you can exchange right for the overall ecosystem token. I don't know. It would not shock me. Aaron's. Going to turn 21 during this presidency, so.
Aaron's token man, it's common. You just know by the end of the end of the four years. You want to have capital ready for that one, and then you want to be ready to sell everything else. Yeah. On that note, I'm on the over 10. I'll take the over on ten Trump tokens by by 2028. I can't believe you already have 4. It's been. It's bouncing quite nicely here though, guys, it's like. The old reversible that'll have the. For the.
Minute nice. Just one one last thing on that the Trump note Tyler. So as I was reporting that story yesterday, basically within minutes of the first headlines sort of circulating Trump and Melania both snapped down. I think it was like, you know, 5 to 10% in the first hour or something. Like I, I don't exactly know. It wasn't like a, an absurd candle, but people reacted and as you would expect, right, like, Oh shit, here's another Trump token. Like I, I totally get that.
If I was holding Trump and I saw that announcement, I probably would have sold as well because that's exactly what happened with Melania, right? You're just like this guy can't let can't let the thing keep going. All on the back of the Trump dinner news from from last week, too. So, yeah, that was my next question is what's the market impact of a truth poker news? Let's say it comes to light like is it going to be another Melania of it that that wrecks everything you?
Think I could bend or eat of of care wealth? This. Once a token works, he thinks that we should get another one going. And even if it doesn't work, we'll get another one going. It's not, I'm sorry, Amanda, I, I, I don't know if it wrecks things quite as bad Tyler, just because it's, it is a little more insulated, like, at least in my perspective, like it's not
Trump branded literally. Like we obviously know the connection between Trump and truth, like which is very, very strong, but it's not exactly his name. So it might be the rest of the market might be insulated in some way. Plus, you would envision that, you know, this is kind of a little law of diminishing returns in a way, like the the big impacts already happened. Like Melania was the big circle right now we're just kind of
working our way now. Like, you know, truth is going to impact it, but a little bit less than the next one and then the next one and then the next one. So maybe not as much. I do think it'll send things down. It'll pull away, but maybe not as much as it as Melania did. Yeah. I'm pulling this up. This is like a triggering image for me. And I even did, I even did well
on the Trump and Melania trades. But I feel like this is such a symbolic picture of the Q 12025 crash from pure euphoria to pure pain in in two weeks time. And this picture sums it up. And it's like she's laughing at us. And long is it $0.39. This thing got to to $12.00 plus that, Yeah. Its first time 13 O five I think was the all time high. I'm with you. I don't think the impact I saw people saying that this would be like a Melania situation, this truth token.
I, I think it's going to be a smaller impact. My, my, my view is if they're going to roll out new Trump tokens once every four, once a quarter, once six months, I don't think it's going to have broader impacts. I think it could impact the Trump token. I think it could impact the Melania token. I don't think it's going to like A cause like the AI tokens doll sell off 40% or far quiz off 40%.
Right, yeah, I'm with you there. And weirdly though, as I think about this a little bit of the tokens that exist, the truth one might make the most sense, you know, to exist as well, which may right, which may help limit a little bit of the damage that would that would permeate the rest of the, you know, his or the Trump family tokens. So. Yeah, let's start with like I'm not worried about Word Liberties 5's token because like they've got a protocol, right?
It wouldn't be out of for them to launch a token. Right. You're making a similar argument. OK, Truth Phi has. A yeah, I mean it, it doesn't need it, but if it was going to have one, it it's like better than Melania having one, right? At least in my opinion. So. Quick side, do you remember the coin it, coin it coin everything that meta? That from Jesse and from like last week. Yes, it's and and how quickly
that is just evaporated. We went from coining everything and it being all over the timeline to to 0 talk of it. I haven't heard a mention of it. I haven't heard the phrase. I haven't seen the phrase since that Zora tge, which makes me again question the the motives behind all that. I don't know. I just had to get that out. That was on that was top of mind for me. And it is somewhat relevant because man, the hot thing to do in this market is to create token launchpad.
And we've got another one coming folks. And you might want to pay attention to this one because it is coming along with an AirDrop. So Ding a Ling folks may know him. NFT whale just brought our crypto whale seemingly has infinite pockets. Announced Boop dot Fung, a new token launchpad for meme coins. The vision is to align traders, creators and holders. The kicker is they are starting with an AirDrop. So no promises of an AirDrop to come. They're going to kick start with that.
If I remember correctly, Dingling was tied in with looks rare EMT platform. Did you just see the I'm sorry to the directive on the coin market cap board looks is in the top five tokens. I meant to mention that earlier off actually offline, but yes, he was. I believe he was tied in some way to looks and Yolo dot fun as well. Looks is. Up 12. Like why the hell would this be
moving up? I bet it's it's probably speculation about boop or something that would not surprise me. But part of of why I brought the look swear up comparison that in a team marketplace. Are those things still going? I actually haven't looked. Is the Yolo thing I guess blast kind of. It was on blast, right? The oh the Yolo. Yeah, that was a thing. That was a thing for a while, right? It was. I never really used it. As far as I know, all the
products on Blast are gone. I can't find it on I can't find it on Twitter, which seems oh, here it is. Yolo under score blast. No tweets since March 18th I don't think. Do they have a link to the website Yolo Blast? Yolo games dot IO OK, I don't know. It says built on blast. I I don't know if it's still going or not. It's still going, but yeah, it's not. OK. The last bet was a while ago. Don't think it's. Still not not a huge surprise.
I mean, I think user activity on blast is kind of gone to zero. I'm a bit surprised at the velocity of new token launch pads we are seeing. I was even in like the NFT craze. We got like 5 but we didn't get like 20. But it feels like these token launch pads are starting to really come out by the handfuls. What we haven't had is a nice AirDrop though, So and I think Dingling is well connected. He's well connected in trader
circles. If they have a nice little AirDrop, I think they might be able to to grab some users at at least on a on a near term basis. And I mean, looks rare. It didn't really steal market share from an empty marketplace perspective, but they had a hell of an AirDrop. So it's going to be 1 to at least pay attention to if you are in the trenches. And we're seeing it with the success that these rewards programs can have with what Radium has done with Launch Labs.
So if you haven't seen this, they're, they're giving out 50,000 rate tokens per day. That's over. I think that's close to $150,000 for the, for the people who are, are trading those Launch Lab tokens. And I mean, it's working. Take a look at their, their volumes. They're, they crossed $100 million in cumulative volume on their, their platform yesterday. I mean, I think you can raise the question of is, is this how long can the music keep going and is it going to stop once the
rewards are done? It's difficult to say, right? This feels so similar to NFTS, right? Open T had a full cycle really where it just dominated. There was a few people that came in and it's still just dominated. And then by the second cycle, enough people kind of came and decided, look, we're going to do some of another version of this. I think Radium people like a lot more than pump fun. You know, it's it's yeah, it has some ties like FTX back in the day.
But in general people like the token. It's got a buy back of the token based on fees now can create a launchpad which potentially people can share on the upside of pump fun. Obviously range of different things that people don't like about it, but I think the the live streaming stuff and this the general community vibes just
haven't been great for a while. So I think it's kind of right for someone to come in and try and do something and, and there's just so much money still being made by Pump Fun that it kind of makes sense that it would get split out, you know? Yeah, it's a very common story. Yeah. Wild amounts of money. Let me see if I can. I've got the dashboard here. Give me a second, folks.
Let's let's let's check in block works has a great dashboard for this and shout out to them mean coin activity, pump fund token volume. Oh, revenue here we are April 29th, $1.7 million in revenue. I don't know if that even I'm not sure if that's even including pump swap. I'll have to take a look. But yeah, so they're still doing $2,000,000 a day. I think they bottoms in March closer to $1,000,000 a day. Now they're doing $2,000,000 a
day again, so down from peak. But I mean, still, let's take a look at the monthly view, weekly view here. I mean, still well above the where where we were last August and September. So they're still showing real signs of strength. And I think other people clearly see that as you mentioned and want their own piece of the pie. What I'm curious about is the trenches have been electric.
If if you have been in there and trading, I think you've had a good time this past week and and maybe today was the local top. I think we see we saw a lot of the the current leading trench coins kind of sell off this morning. I am curious how much of that is perhaps driven by these daily radium rewards is, is that causing a little bit more artificial action in the market? Maybe so. I don't know. I don't think the coins that have been winning are necessarily launch lab tokens
though. So to to go through some of these headlines, Housecoin hit 110 million this morning. This thing was trading at 10 million on April 6 days ago 10. X This. Week.
I forgot that the RFC will. Be so divisive for a long time than this really, really divisive right I think mainly because it's like tied to some of the bigger care wells in the space and it smells like free supply and all this sort of stuff and it's got this kind of like narrative which is normally friendly but maybe not like super crypto friendly. You know, it doesn't feel like our one of our native memes.
It just kind of feels like something that may boomers may talk about, you know, and that's a bit more divisive. But what's your view here on this one? Because we said yesterday this may be the coin to own if Bitcoin keeps on going, because it's a new meme and you know, you go to like two 5300. But then the hierarchical is the more hate I just see for it. It's very different to like far coin. Which can be good. I mean, I think in general, let's put far coin out of size.
It's kind of a a Unicorn. You don't want a consensus play like you. You want the the 5050 split because that drives attention and it continues to give you marginal buyers and people who will capitulate it. I was early to this one. I, I thought we talked about on the show. I have to go back through some of the transcripts. I just goes, I got in under 10 million on this. Had a nice position. I thought that the narrative of we're going to flip the housing
market was a good one. I saw the, the zoomers rallying around this and pointing to the housing markets, not for them. We don't want to buy boomers 10X. So it's, it's a little bit of a rebellion play against that. And I saw the the some early personalities form around it, like Lexapro, and I really saw them commit to it. I think you need one or two people like that in this current market to, to really drive, I mean, forward.
And then when I saw the boots on the ground posters on the wall in Lai was like, OK, they they've got a force behind this. And I think there's some upside. Now is where it gets interesting at A at 100 million, I think we're going to start to test where this market can go. I saw a take that 1/3 the market cap of fart coin is could be the ceiling of this. That's a reasonable take for me. Like I think if it got to 300 million personally, I I might clip the whole thing out.
Like is this a multi billion dollar meme that's going to take some serious time to to get there? Yeah, I struggle with this one a little bit. You were super early, Tyler. I think you might have been 5 million right or something when this first surfaced. So kudos to you. I, I like these narrative plays this sort of like we're going to flip this thing like SPX 6900. Like I actually get that as a play, right? Like we're going to flip the S&P.
That, that makes sense to me. I'm, I'm OK with that as a, as a token, This one felt a little more force to me. And I think that's one of the reasons that I could never really get behind it. Like one house equals one house coin. Like, come on, you know what I mean? But I, I, I do agree though, like you need some people that are the Champions of it. You, you need that, you need people that are committed to it.
It's just going to keep pounding in on the timeline, as nonsensical as it as it is. And so I'm, I'm good with that. It just felt a little too forced. And then I kept doing this, the thing where like we haven't seen a runner in forever and it kept feeling like a top for me. Like, OK, I can't buy 10 million because I saw it at 5 million. Like this is ridiculous. And then it was, I can't buy it at 20 million because I saw it at 10 million. You know, I suck at buying stuff on the way up.
That's just a, a personal issue. That's that's why I'm still, I'm still sidelined and I don't, I don't think I can pull the trigger at 100 million. Yeah, it's a little tricky. I bought some, but it wasn't because of Utila. It was because we did the right radio here with Coop. You're in too many coins for me to go into the coins that you're in, whereas coop doesn't get into that many.
So when he said, tell me that's the coin, I was like, OK, I'll, I'll buy some, which is just good timing because it, that was on the Wednesday and then it I think handsome started mega shilling it on the on the Friday, right. That's how it works, yeah. I still have it, but it's not a big position. It's just like I bought some but it's a bigger position now obviously but.
I mean, pardon the narrative here, we talked about this yesterday is like, is this like one of the new memes from this new meme cycle, right? And can it be like one of the defining ones? It's like if it becomes that, that's that's the narrative that could drive it 100% much higher. I think you want to own those. Like there are certain ones which obviously are like multi cycle memes, but it's very clear to me that the memes that will pump the hardest are normally
memes like this, right? Like it's like some new thing and everyone's always in profit. So they, they make it their personality and you know, it's, it will be something like this. I don't it's really just you think this is the time when Bitcoin's going to go to 210 K because Bitcoin now just ranges until June. There's a lot of hate for this thing. I don't know if it'll it'll die in that in that time period right.
But like the week that Bitcoin goes to all time high yet whatever is the runner that week I mean what happened with peanut dude? It went to 2 billion because bitcoins are rallying that week. Like whatever the coin is that week, that's the coin you want to own because. Pups Pups went to 900 million. Yeah, but but peanut was new. Do you know what I mean? But it's the new coin that week that has the narrative house coin feels like that right now.
But like if we like, if we range till June, I I kind of sit on the on the view of the enough people hate it. And the meme is maybe like it's OK, but it like it's only OK if boomers pick up on it. And I don't know if I have yet. So that's what we really saw with far coin, right?
Like that's when I started buying far coin back and I was later than you again, Tyler, but like I start buying AT2250 back at back then because suddenly it was being it was on StockTwits and you're like, OK, well, this can be a thing. The one other nice thing about this is it seems to be sort of like it is the new one, but it's also sort of like the meta leader right now, right? It's spawned a bunch of beta coins, or at least I, I am perceiving them as beta coins.
And that is typically like a little bit of signal that, hey, this is, this is a, a winner, right? Which, which could help further propel things. It's tough to go too far down. You know, you can get A2 or 5X maybe out of a beta, but you typically just want to own the alpha coin from these little meta pockets. And I, I would say Housecoin is that at this point. There's a question is this new token land house beta disclosure? I I am in this.
I got in this one yesterday. Has to be, doesn't it? I mean. In something else. I was telling since before the show. I think I've gotten in like 8 new meme plays this week. What was the other one? You were in 5-6. I'll go through the list here in a second. I've hit like immediate 2 to 3 XS on several of them, so land closed. An easy 3X free roll in the bag on that one. Neat. When I went to school on Monday's show, I gave the full pitch for Neat. I got in around two and a half
million on this one. I think this one's a strong one. A strong one to watch. Education or training? Yeah, it's this whole idea that this, the new that Zoomers, this new group of kids who are going to be graduating from college with AI taking over, they're going to be in this, they're going to be Neats. They're going to be not employed, not education, not in training, and like, what the hell are they going to do? I like this one too.
I, I don't own any, but I'm, I've been pretty hands off while I've been here in Peru, which has really been bad in the last week. Being in chats with Tyler and happy for you Tyler. You've been dominating but feels a little sad not participating as much. This was a bad week to miss. I think everyone who flew to Dubai missed a big week as well. I hope there's more upside there for them. This is like this one hit 10 million. It hasn't really had any pull
backs. So I think this is one of you got to wait. Like we usually have the 40 to 70% retraction that really tests the holder base. This one hasn't had it yet. So so be careful, but a few others made I'll keep rattling through that. The list. What else are we going to talk about in the last five minutes of the show? I did enter troll. I'm not up on that one. I'm pretty much even. I think that's an interesting 1. I don't feel I don't have the confidence in that, but I I get
that it's an OG meme. It's in the it's the type of meme that could have some decent performance. Bongo, an old bonk. I mean apparently has gone super viral on steam. It has somewhat revived the meme, though It looks like it's it's chopping here. I wouldn't say this is an extremely high confidence play. And then I got in on the Pasternak token. Andy 8O52 helps kind of tip me off of this one. He's been pretty loud on the timeline about this.
This is the previously the the founder of clout. He has his own token on clout that ran and now he's rebranded it as a part of the believe app and their their launchpad. This is the token now. It got updated on Vector before it got updated on decks. So a lot of people didn't know that. And then this thing just went from 5 to 15,000,000 in the last day.
And even at 15,000,000. Like if you think that the the token launchpad is going to have some success, I think we did $100 million in volume in the first day. I think Ben said perhaps some more upside on that one. So that that's my book. I'll continue to walk to, to walk our listeners through, through the book here on a daily basis. I'm sure you, you all are, you know, chomping at the bit to know what I'm getting into. But in summary, the memes have been hot.
I am curious, like how sitting 100 million, is that a local topside? I think a lot depends on what bitcoins going to do from here. Are we going to come back after just a quick dip? Are we going to start kind of grinding back down to like 88 if Bitcoin goes down to 88? Probably cools things off, my gut read.