Good morning, Good morning, everyone. GMGM and welcome to another episode of Omo Hour Day. It's Tuesday, April 29th, 2025 and folks, another green morning out there with crypto outperforming once again. More headlines of funds and institutions piling into Bitcoin starting to get bowled up here on this show. Some are calling for new Bitcoin all time highs in Q2 in the question, are they right or are the bears going to win this round? We're going to break it all down
on today's show. No faroque, but we've got Mando powers back, baby. So back and Logan as well. Mando, Jim, how was your power outage situation? Yeah, that was nuts. Like fully, fully nuts. I was like laughing about it at the start because you let all the power come back and then it suddenly came through that was affecting the whole country and it was affecting Spain and France. And I was like, oh God. And I, I just wasn't prepared. Wasn't prepared.
Like we had some stuff, but nowhere near the amount that I thought I, I realized I needed. And no, it's, it's that point where after like 10 hours, you realized your phone's about to run out and you're like, what are you meant to do right now? And then I was like, I'll go, I'll go charge it in the car. And then I realized the car's only got like 1/4 of a tank of gas. And and I was like, wow, like the power goes out. Stuff can, stuff can really go.
So yeah, crazy 24 hours. It did come back like late, late in the evening last night in RAM. But like it's it's across Portugal, Spain, France. You still had some issues and some people have been affected by water here because they pump the water from the ground in certain places around here and the pumps weren't working. And it's definitely a sorry, I have a bit of a cough. Definitely a like almost like a disaster movie. When you start thinking about like if this went on for another
week, you can really get bad. Yeah, I I saw your tweet. Flat hands out the out the power. We're screwed. It's, it's a bit of a reality check. I was following it loosely throughout the day. I mean, even into like American afternoon, evening time. It wasn't clear that power was going to come back anytime soon from from the messages that I
was saying. No, no, they they said it could take a week, which it still can like parts of, but there's still power in, in, in no power in some areas around here. If some weird thing like it seemed kind of innocuous that it just got taken out. But that's the kind of scary thing about it. Like one power line in Spain takes down everything it it took out like part of the paint part of the power in like Belgium and and the Netherlands. So Europe. Europe I think.
The other thing is you're. All on renewable. So like Europe's been big on renewable and I don't know the exact science behind it, but there's something to do with the fact that renewable energy can't be used in these sort of moments. So like when once it goes down, it's often and can't be used and like research it back up just the way like I don't think she can't store it in the same way
or something like that. But before in the hours before it went down like Spain's, Spain's energy was like 60% was coming from renewable sources at the at the time and then it goes down and then you can't just get it back up again in the same way. So. Have they figured out that the the reason I saw some tinfoil hats of course on on X that it was well I it.
Was like, yeah, done this really bad translation, but they said it was like a like a a extraterrestrial phenomenon or something like really random like sounds like any. Flare or like something. Then I saw clips of something like a spherical orb passing between the Earth and the sun. There's been quite a lot of talk about that. You know, solar flares are up quite a lot over the last year and they're going to be just the way the cycle is. They're going to be quite big for the next few years.
And yeah, just other stuff like global warming maybe may have been slightly responsible for it, like, who knows? But it is more at this point of the fragility in the system. And also the idea that if power was to go ever go down, yeah, it can get it can get dicey. I'm with you. I think it's a good wake up call. I went through your list. I said to my wife. I was like, we, we need to go through this. I think it's a little bit different when you've got a
family too, right? I think if you're, if you're on your own, it's a little bit different calculus. We had about 1/2 the things on your list I'd say but but definitely not all of. Them something you just like, Oh God, like you realize that actually most of your devices last a day, right? Most of your handheld devices last a day. And then and then you're really
just relying on power. But you're always thought, Oh, I'll be able to power it up. But I could have driven for 15 hours yesterday and still not had power because it was all the countries in the area. So it's like, and you can't fly out. All the airports are shut, right, All the airports are shut in this scenario, all the petrol stations are shut. This this just so everyone's kind of aware because they can't pay.
So you're you're like in your mind, I think everyone has like, I'll I'll be out to get out if something bad happens. But actually, like the petrol stations are shot. So you only already have the petrol in your car and the airports are shot. Then it either descends into lawlessness or you're kind of just staying where you are and
hoping for the best. So that's why I kind of said like after 48 hours, I think you probably need a weapon because like the police said, just stop calling us yesterday. So I don't know, like you can tell it can get bad pretty quick. So you're sitting there. Your phone's about to run. Run. Out. You can't go anywhere because you you have whatever petrol's in your car at that time airport's closed railways closed buses are shot like you're just you're just sitting there hoping the power.
Comes back. On but like it's really sunny it was a beautiful day yesterday. So I was like, just need something to keep the power going. Yeah, and having the, the, the backup generator is probably #1 on the list, I'd say if I had to stack rink those items because that solves a lot of the problems. I think Logan, we were chatting like this is actually something like I, I'm quite familiar with this. So where I grew up in Indiana, like we would lose power 3 * a
year. Of course that was back, but that was pre devices and like addiction to to devices. So we didn't really, I mean, even like personal, we had a personal computer, but this was still like dial up Internet. But yeah, Logie, well, maybe First off, we're happy you got the power back, happy that you made it through the power outage with with no significant issues. Logan still in Peru. He's got the yellow background. Assuming power stayed on there.
GM how are you doing? Yeah, power, power's on here. I do have some history, of course, with power outages from rural Pennsylvania, not quite to the extent of like, you know, multi day, but you know, I've had to pass a day without power. So it's not fun. And I'm not sure my family would be equipped either at this point in time, although the isolation I guess helps with with some of it as well. But yeah, things are going well here.
Last week in Peru, beautiful weather, feeling good, markets green, nothing to complain about. We're glad to have you back, folks. What are we talking about today? We are going to talk about more then how to survive power outage situations. I do promise you that. So we've got Trump creating strategic uncertainty in global markets here this morning. Crypto is looking strong, outperforming here to a degree.
Massive ETF inflows continue. Arizona may be becoming the first state with a Bitcoin reserve. MasterCard launching a full stack stablecoin initiative. Ledger and Coinbase offering new yield. Nikita Beer Town and Clouts new token Launchpad didn't see that one coming. Crypto AI doubling in the past three weeks. Memes continuing to pump in a couple of NFT stories. Plus we've got double YEET action today as well. Yeet is back, so make sure you
stay tuned for that. The raffle block code will be YEET 50 to celebrate $50 million. And boy, on that YEET platform, how about that nice little milestone? Before we dive in, we want to give a shout out to 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. Want to learn more?
Follow at Wallet Connect on X and Telegram to stay ahead of what's next. We love our partners as always. All right, Mando, without further ado, let's get into it. Can you dig it? So I have to prefix this by saying I wasn't really paying attention to the market much yesterday, but the market seems to be kind of where I left it. It feels as though Solana may be slightly underperformed over the last, over the last 24 hours, which I think slightly
surprising. ETH going higher is often seen as like a bit of a bearish sign when it starts to outperform and ETH is marginally outperforming right now. But broadly, we look kind of flat. The, the big news that I saw really has been like ETF inflows have been very, very strong. And then coupled with some headline news which is that Arizona looks like they are going to do an ETF reserve and it looks like South Korea may also similarly be moving towards ETFs by the end of this year.
So adoption of of crypto seems to be going higher, but yeah, it feels like Bitcoin's just kind of holding on to where it's been for the last few days. This kind of 93 to 95 K area. I'd be very unsurprised if it, you know, if it has to retest like 90 ish again before it has to go higher. It's been remarkably stable having made that like 15% gain and and it hasn't really been tested that much.
It kind of got bought whenever it hit 92 1/2 K. But what we've really seen with BIC from going sideways has been kind of the trenches coming back a little bit. It's like what you said, it's what you said, Tyler. So you've seen the AI sectors really come back, 9 billion for the AI sector. It's pretty impressive in my opinion that it's come back to that sort of level big gains in virtuals and AI16Z over the last 24 hours.
One of them's on listing virtuals just seems to be grinding higher and Farkwind obviously had its move before that. But yeah, just a decent move across the board in a range of those coins, which I think is is getting people more, more bullish. I and then on the meme coins, they've been more mixed. I think some of those gave back a few more of their gains over the last 24 hours. But Pengu's had a very strong period here and kind of relatively held on to the
majority of its gains as well. And then you've had some like mid tier runners, which just is a good sign. I, I would guess for the for, for general risk sentiment. But I've been, I've been impressed, let's say when I turn back on all of my power to see everything kind of unchanged and pretty low volatility. It's a, it's a good sign macro. I haven't seen anything more. We've had like a period here of
stocks recovering. I think it's been five straight days of green for stocks, which which has been good NASDAQ back above comfortably above 17 K there. So that's been a decent move. And then the S&P has been bouncing as well. I think everyone is just waiting for, for some talk about trade deals that most obvious ones would be with the UK and India, it feels like and potentially South Korea there's been some talk about or Japan.
So maybe we'll get some there. China is basically saying there's, there's not even any talks about a deal going on right now. So it doesn't feel like China. US, as I've said several times, is, is close to a deal, but other countries may be much closer. You had the Canadian election happened yesterday, Carney won. I don't know how that's going to be taken.
I don't think there was like a big, big view on markets there, just that he's going to be less friendly, let's say towards Trump and he's potentially a less crypto friendly president as well. So yeah, that's your news. Thanks for the roundup as always. I I want to dive into a few of these here. Maybe just starting with Bitcoin. I think you nailed it. Like we've been green.
I feel like maybe it's just this bear bearish mindset like just waiting for it to to dip again because we've had this kind of few weeks now of continued. You know, we were pretty stable at 85 K then we level up to 95 K and kind of just hanging out here. Sailor bought, we saw yesterday the announcement he bought $1.4 billion worth last week at like 92,700 or so average. I did see some chatter on X that maybe he was, he's running out of ammo.
I haven't looked into that myself, but if sailors running out of fresh capital to buy, is that perhaps somewhat of a near term bearish indicator? You landed on the ETS? I mean wild. I was watching this last night so I was curious how Monday would go. It was looking very red until the Friday I bet numbers came in and they were biggest day in months with nearly a billion in
the BlackRock ETF alone. So, so pretty substantial there and we've had, so yesterday I talked about Kathy Woods 2030 price targets, but Standard Chartered came out and they issued, they're calling for all time high in Q2A120K. They're not alone. Bob Lucas is back. Bob's been a little bit. I mean, I think he's a pretty objective guy. He, he follows the charts, he, he does his TA and he tries to, to make predictions based off of
that in his system. He'd been leaning more bearish for the last month than yesterday, his first bullish post that I've seen out of him in quite some time. In fact, I went back through his timeline this morning and I don't think he really had much, many bullish things to say at all. In the month of April. He's saying we are back in the the four year bull cycle uptrend. This weekly cycle.
We are on week 4 of 15. Expect to play that out projecting that we would potentially make new all time highs here over the next 11 weeks, which is Q2 basically so aligned with Standard Chartered. Wow. Mando, curious any reactions to that on your side if you think that's a little bit premature to call for all time highs and in Q2, how does that line up with your current base case mental model right now it? Lines up pretty perfectly if I'm
honest. I kind of said that I thought, you know, we could be in this range for six months from when we started and and the Q2 breaking out would be would make sense. I think, you know, you can look at this from this angle, you can look at this from the the global M2 correlation, You can look at this from just general sentiment. Like it doesn't, it still feels like it's just us again in crypto and that that's normally
a good sign in my opinion. Like not, not a terrible time to buy, but you just have to have a long enough time horizon. So I think if Bitcoin was to break out towards all time highs again, it can get quite frothy again quite quickly. So as it always does. And I think interestingly, you've already kind of seen some of those memes move already. But yeah, I mean, I think you kind of know the ones that you'd
want to earn if it's continued. Yeah, I think we're starting to see that on your six month comment, man, it's almost been, it's been 5 months, it's been realized. So November, November 21st we hit 98 K. So you could paint the case that we've already been in this for over 5 months now. So in the May 6 months freak out in the new range that's. What I mean kind of entered in December to be honest. Yeah, that's when it it fully
started. We made the huge move, huge move up in November, post Trump election, basically the whole move in two weeks. Yeah. Then kind of entered that range. Then we lost that range, chopped down our back of that initial range. Logie, I see you, you you're nodding your head. Curious for your thoughts reactions here.
Yeah, it is wild to consider that despite all the the bad feelings we've had, maybe maybe not this week, right, But the the last month or so that it's just been kind of in a range for the last six months. It's really not so bad when you zoom out, right? It's cliche as that is. I, I don't have too much additional to add.
I was just thinking back to, you know, you talk about the ETF inflows and I know you mentioned you talked about Kathy Woods price targets yesterday, which absurd or not one of the inputs for those predictions is just the continued adoption of the ETS of people continuing to pile into the ETS.
So as you see that, as you see more inflows day over day, or, you know, whatever the case may be, just kind of, you know, I, I can get behind that, that, that makes sense to me as a vehicle, especially because I've seen it anecdotally as well, right? Like people in my family, my own father, right, gaining exposure to Bitcoin and things like that through, through the ETF.
So makes sense to me. And, and for that reason, you know, maybe not I, I don't know, I can get behind the 2.4 million by 20-30, but I, I can definitely get behind the bullish sentiment that is attached to, you know, ETF accessibility or, you know, wherever the case may be. Yeah, it, it is interesting to see is it's kind of hard to argue with with the law of that logic, right? I mean price targets aside, they're, they're her base drivers and ARCS based drivers certainly made sense.
You mentioned ETF flows, we talked about those. The other piece is just institutions and funds continuing to pile in. And we got the news this morning, Grant Cardone, Cardone Capital is set to acquire 1000 Bitcoin. That's $100 million. Just add it to the laundry list, right. I feel like we're we're seeing these on a weekly basis. I talked about this a lot on the, on my solo show yesterday.
The other aspect we're getting, and I don't know, we've really had a chance to talk about this because it took place on Friday, but the institution's now starting to pile into Solana in Seoul. So Jan over previously, Jan over now they've changed their name to D5 development. They dropped the bombshell on Friday. They're, they're going to raise $1 billion to, to buy Seoul. They've already bought about $50 million worth a sole for the corporate treasury. So they plan to to buy up to, to
20X that. It feels like a big deal. And that's, that's a big number for the Solana ecosystem. And they're not alone. But curious if you have anything what? Is that happening with ETH like, well, I believe it was by soul. Like what's happening with it's, it's sounding crazy, right? It is crazy I don't have a
great. Answer I, I think this is a good sign for Solana. As I've said before, like my thesis around L ones is, is less constructive than I've ever been when I've been in crypto just because I just see this massive adoption of, of stable coins. And I, I just wonder whether that's going to really affect some of these these L ones. But I think it's Solana's keeping keeping track with Bitcoin all the way up, which I think has been a very, very
strong sign. I mean, it's slightly underperforming today, but like overall I think you got to be pretty happy. Yeah, I I would agree and I want to get into perhaps going further out the risk curve. What in, in the scenario where Bitcoin makes all time high, what else moves along with it? I think we've started to see signs before we do that. Just a a couple of the stories Arizona set to potentially approve their Bitcoin strategic reserve. It feels like a big one.
So it passed in the House yesterday. That was the news. It is now passed in the Senate. In the House. It is on the governor's desk.
I think there are concerns that the governor is going to veto this or not sign it. It does feel to me that the governor perhaps has more on the line as the final approval approver of this then perhaps individual Congressman in the House and the Senate. And as much as you know from a bullish Bitcoin want the number to go up And like what would this mean for other states to potentially follow their lead?
Want that to happen. Is the are the downsides strong bigger, worse than the upsides are in in this scenario? It's like let's, let's say the bill, they're talking about investing 10% of Arizona's treasury, which I believe is around 30 billion, so about 3 billion or so, fairly substantial amount. And let's say Bitcoin goes up 30%, they make a billion on that. I think you see some nice feedback. I don't know that you see a whole lot of headlines around
that. In the scenario where Bitcoin goes down 30% and they lose a billion dollars, I feel like there's more negative headlines in that scenario. Logan cures for your thoughts? Yeah, I. Think it's going to pass? I'm with you. I mean, there are definitely lingering cons that no one when we're discussing these bills, at least in the, the crypto echo chamber, we're not really ever talking about.
So I, I totally see that world. Tyler, I think it mentions in this article from Vince that, you know, that she had previously said maybe recently that she wasn't going to sign anything until they had a budget resolution, but they may have just gotten 1, but there was no update on it. So may not have anything to do with of course, her feelings on, you know, crypto or whatever, but just, you know, general politicking more or less. But with all that aside, I
definitely understand the risks. There are other risks here, custody, you know, things like that, that you know who The Who the hell knows? Obviously, you, you'd hope that a state undertaking something like this would, you know, be using the most trusted utmost, you know, best possible security solutions, whatever it is, you know, custody with Coinbase,
whoever it may be, right. But there are, there are lots of hidden risks in something like this and you don't want to be the first one to mess it up. And then one, you probably ruined it for everybody else. You know, it, it might be the nail in the coffin. And two, of course you would, you know, very, very much negatively affect your citizens and your constituents. So I, I definitely understand the risks and the, the potential unwillingness to kind of be the
first. But I do think when the first happens, that's when you you know you'd start to see some of the more so the other dominoes fall. Yeah, I think that's a fair take. So we'll certainly see. It'll be big news probably
regardless of the decision here. So I think if this one also fails, it'll it'll add to the laundry list of states that haven't been able to push this over and it'll feel, I think Arizona's been one of the leading horses in this race to actually get this across the finish line. So if they fail, I think it's going to paint a bleaker picture, but we'll certainly see. I want to go back to that question of Bitcoin all time high in Q2. What else is pumping?
Are we surprised? That they we did this last time right we did this when Bitcoin was a what was it about 60 K we said what are the things that you would own I think at the time I said mug goat and there's two others I think maybe it was Pepe and. Was fog in there at one point? Fog was in there too. Yeah. And they all basically did A3 to 4X of A. They thing got trashed afterwards. But if Bitcoin now was to go to 110 K, well, let's say yeah.
1:15, 1/20 What are the assets? What are the three things that you would want to own Tyler? Well #1 is far coin, of course, it goes goes without saying. It goes without saying. I think from a more from a safe if you want to bet on crypto AI, I think the play is virtual. Virtual right now is probably the token. I would reluctantly own it. I will admit I haven't ever had a large position in that. I'm more, I'm more sold on virtuals leading an AI pump than
AI16Z right now. And I would want to bet on the leaders in that category and not go further downstream. Well, I guess let me let me say that back. I do own prompt. I think prompt is, is a fair bet on the crypto AI Round 2. So I'll make that my I'll make that my call. But I think virtual would be just fine from a pure meme standpoint. Or or what else would I want to own? Make of the other things of the hype would be 1 Pudge budgie,
would you, would you buy? I mean, Radium actually just has made like 600 K of fees from this from this launchpad in the last three days. That's suddenly looking interesting to me again. Well, some of the L ones. Squeeze interesting hype is I mean hype sit back in 19 already. That's the thing. So like what is are you? Are you looking for a 1 1/2 X? Like three to four XI mean maybe a three to three X is possible. It's kind of hard for me to see a much bigger run than that
right now. That's so huge. That's that's a huge strain. Pingo is an interesting one, Logan, what would be tough? It's crazy, but well, no, it doesn't sound so crazy. But you know, far coins, the immediate first thing that comes to my head and I think I own 100 far coin on a Ledger somewhere. That's that's that's all I'm holding right now. But that that's the the first thing that comes to mind if you tell me that Bitcoin's going to hit a new all time high, you know, in Q2.
The other thing to me, you know, so like Solana is interesting along those lines. I mean, it's still very much beaten down from all time high, which is about two 290 or something. So I could definitely see that following suit. And then as you, yeah, as you get further down the, the risk curve, some of these become
interesting. Like I I'm no longer interested in things like with, for example, dog with hat, but things like Trump alongside that, things like, you know, like I, I could be, I could be swayed into into stuff like that. But the the most obvious slam dunk one to me, which maybe is like me talking to myself that I should own a little bit more than 100 tokens is is far coin. Like if it's really going to go up, like, I don't know, it just
feels like a a slam dunk. But I, I, I like a couple of these here on this board. I like dogecoin. I still like, so I've never really had any affinity for like Shiba Inu or anything like that. But there's another. I think there's a headline this morning about another DOGE ETF filing or something like that. Feels silly, but probably one of those gets across the line. Maybe that doesn't mean too much, but it is still the champion of meme coins, at least
in my book. And by market cap of course as well. That doge, it's interesting right there. Looks like it's painting higher low here. Like, I mean, we had the explosive run. Handle are we? Are we about to see a cup and handle here? Let's see. Let's find the time, the time frame where there's a cup and handle and go for it. Yeah, it looks like maybe on the the six week on the six week chart we might have. Is it like, is it on my house going? Like I have a very small
position in this thing but like. All right, now we're talking about language. Yeah. So is it a new meme? It's like if you think there's. Going to be a lean meme, will probably run the hardest right? I think that's a very fair thesis. I think I think a few things are going to happen. I think we will see a flight back to some of the the the the top meme coins topping quotes. And I think it's going to be a
little bit of a new classic. I don't think with is going to is going to be a leader again in in 2025. I think it's going to do fine. Like I'm, I'm not saying to short it by any means, but I don't think it's going to go back to four. I think perhaps some of that new class could, could see some runs up. I do think Pingo's going to have a nice run. I think Rex is going to have a nice run. But what's going to be the new coin to emerge from the salon at trenches? I think once a quarter we see
one, we really haven't had one. What's the, I mean, I guess we had to separate pre Trump and post Trump. Post Trump we haven't really had a since the fallout. We really haven't had an organic new runner from the sole trenches, have we, that's had any kind of a staying power? No staying power were were there maybe a handful like right after like was Jelly Jelly after Trump or is that before I haven't losing track of yeah. I think that was before.
Yeah. Nothing was staying power though, you know, beyond a few days. So it's pretty open. I mean, if you look at at what's currently out there right now, it's really don't say there's the board. All right, maybe trolls in the conversation. The troll seems to have a decent group of folks behind it. It's at 30 million. We just we're showing house coin at 60. It's a little bit higher bunk. Guys touting Joseco super hard right now to 33 million. I don't really know the story
behind this one. He's saying it's got a lot of views on on YouTube or something. OK, I I don't know that I'm throwing my chips on on Joseco. Sorry to the Joseco crew out there, but I think this is what I talked about yesterday. But there are, there's some action here in the trenches. And as these new coins are moving up, we're starting to see more runners on a daily basis
kind of fill in the gap. So I looked at the board this morning and there were 4 to 5 coins in the last day that went to that three to $6 million range. So they're, they're not going to 10, they're not going to 20 on the first day. The the the that first day cap is a little bit lower, but they are starting to happen more consistently. So I think it's something to pay attention to. Certainly that's the salon meme
board. NAII think it's more of a question of is it going to be a new AI runner that really takes the scene or is it going to be the existing crowd? The virtuals group is starting to get pretty loud at this new, I think it's called Virgin, this new program or you can you have to do something and then you qualify for these pre sales and the pre sales have been doing pretty well as I understand it. I have not had a chance to dig into that yet.
I know ICO and others have been telling that pretty hard. Certainly this virtuals looks pretty nice. It's up almost 3X off the bottom here, back to $1.46. So it's doing pretty well. The rest of the board, it's doing OK. We aren't seeing like this huge movement. Arc is back to 65. Griffane's right there. Yeah. This isn't my watch list. What else is moving? So Alchemy has been doing all right. It's 150 million goats hanging out.
I think Prompt is an interesting one, but it's got the weekly cell pressure, so that is something that to take into account. I don't think we've really seen that the huge unlocks from that yet though, So I think that will still be my my wild card. Yeah, it feels like this. The winners are winning and everything else is not really doing much. And there's no new launches really, which is a part of this a. New launchpad is that, Is that what this is? What? It's just a better casino,
essentially. Logan, have you? I saw you nodding a bit. Have you had a chance to take a look at? That just very briefly, it appears to be a more or less like a pre sale launchpad. So you can utilize the virgin points to sort of try and subscribe to new agents that are created in a little bit more of a fairer mechanism. That's that's my understanding.
I'm sure there's much more nuance and things that may not be, you know, characterizing there, but just more infrastructure stuff and slightly reworked infrastructure for agent launches. Got it. Yeah, Look, I think, I think with all these sectors, you kind of just have to look at what happened to the biggest coin. And if that's up, then what like you said, kind of like some crazy stuff can happen in the mid tiers like Trump doubled
basically. And that just means that there's a lot of money suddenly in Solana meme coins again. And similarly, Tau I would say is the biggest AI coin and is up a lot. And then that just means that people start gambling all the other coins. Yeah, I want to move almost double Intel up 66% on the month. So the the leaders create a big move in market cap, a bit of a wealth effect and then it trickles down. We've seen that that play out new wild card. OK, I know we're chatting about
this. Internet capital markets are back on Solana. I'm not sure if folks have seen this yet. Imran Khan and Lions Dow, they're, they're sharing this concept behind the Believe app as effectively on chain Kickstarter, Kickstarter for ideas and projects. A founder can come up with an idea, post it with this, launch a coin, a token is created and then based on how it's traded, fees generated, that founder can decide to effectively launch the product or not.
Can you take us through this one? Yeah, in your early thoughts. Yeah. So it it appears to be a basically a relaunch of clout. If you remember, I guess that would have been what December or you know, early January Clout from Ben Pasternak never really launched, but this appears to be it's it's revitalization,
rebrand, whatever. But exactly as you described, Tyler and and as Imran lays out here, so somebody can have an idea for something, sort of outline their idea in a post just like this and tag that launch a coin Twitter to create a coin alongside it, more or less so a coin attached to the idea. You can also have people scout ideas. So if you posted an idea, Tyler, a really, really long one, somebody could, you know, kind of reply or scout and attach a coin to that idea as well.
And just like anything else, right, The token trades earn fees for it. And then the person who created or who owns the idea then, yes, can claim the fees. They are vested, I believe. But reading through some of the replies from Iran, it appears that more information is going to come out. But there is some vesting related to the idea owner here. So it's not just like you can just take the money and then run. But yeah, it's, it's on chain Kickstarter, more or less.
And there were there were I think 3 or 4 launches yesterday. Yeah. Here's the tweet. It's like that luxury furniture company that that token is at like it was at like 4 million when I looked before the show. So some of these have done quite well thus far.
I would say much better than some of the initial launches that came from aside from the Pasternak coin, much better than any of the other tokens I believe that launched on cloud to start so. I guess the core differentiator here then is it's launch a coin, but it's not just for pure shit coins. Right. And it's not just tied to the, it's not just tied to the individual. These aren't just like creator coins, right? It's intended to be tied to the
idea or the product or whatever. So in the case of dupe, which I don't know anything about, I'm just using the description. Affordable luxury furniture, right? Guy writes out his theses, I imagine, or something like that, right? Showcases any previous sales or whatever else he's done. It's it's kind of like Shark Tank in a way, right? You sort of like or it feels like it could be like that you're sure you're just like
pitching your Twitter crowd. And then they can of course buy the token earn the fees and the the creator can then use those fees to actually build the business. And of course, you know, I'm not entirely sure how some of the like, I, I guess the token is designed to be the equity, you know, if you extract it enough from the initial idea, like how do the people win? I guess the token going up.
But there's that angle of speculation here that I feel like still doesn't quite answer for, you know, the the overall idea, if that makes sense. It does, I think right. That was my first struggle with it just as a conceptual basis is the like, why do you want to buy that the the token before, before there's a product like you're kind of just betting on the founder meant that you perhaps don't know who hasn't built the product yet. So I don't know.
I mean, it's very, very early stage investing I guess is one way to look at it. Yeah. Well, and with at least with the way that Kickstarter works, right, is like if you if you're engaging with the Kickstarter, you're entitled to select benefits typically, right. Like you get the product early or you get like a special version of the product, things like that. I imagine this will have some component of that as well.
So if you were buying dupe early, like maybe you get a huge discount on luxury furniture or maybe you get access to luxury furniture. Like, that actually makes sense to me, right? You know, Kickstarter, of course, has been very, very successful utilizing that almost exact same mechanism. I just don't exactly know life cycle of the token. You know, that's the big, the big what if for me, it's like, OK, you've invested early because you think the idea is cool.
The token and the fees are vested so the founder can't just take them and run. Like, I get that. OK, I'm on board. I'm tracking, but like, what's the allure of maintaining exposure to this token beyond, you know, 3 days of speculative fervor? I, I don't know, that's, that's the part I'm I'm missing right now. Maybe that's spelled out in, you know, a variety of these posts that aren't coherently strung together. I don't know. But it does seem there should be more information coming.
Very successful launch, though, I think he Ben said 60 million in volume or something crazy like that on the, on the first few tokens, hundreds of thousands of dollars raised in fees for these idea owners, you know, project founders, however they'd like to be recognized. So that's cool. And I'm all for experimenting. So no knocking this in any way.
I just, I don't, you know, as someone who would consider participating, I would be participating right now for the speculative fervor in the very beginning, right? Looking to get in and out, capitalize on people being excited about a new thing versus, you know, actually being interested in these ideas and the future of these products, which is a little unfair, of course, but like, that's just the honesty of of what many people participating probably
are doing. Yeah. Can you take a look at how their, their bonding curves work and all this? Like are you able to invest like 100K market cap like that feels too low. And like as a family, you wouldn't even want to give away equity, token equity in your company at such a low valuation either, right. So there's some details. It feels like they're still kind of working through a lot of this. It kind of feels like they kind of lost it to see if it would have any demand and it has.
So perhaps they're going to go back and revisit some of the details, which makes sense. But three products already launched in the first day we saw dupe see $30 million in volume. So it's big. I think these founders are going to quickly learn that they want the token to do well. They're going to have to manage the product as well as the token holder expectations, which we know can be quite the job.
There's also and maybe maybe this is like not as much of A worry with the current administration, but like I think this type of idea or the the raising of funds for projects right via token launches that's been around for a long, long time. Jelly, Jelly just kind of did something similar to that not too long ago. But like there's obviously some actual regulatory potential
concerns here. No, like you can you, you can't just like sell equity in this way without like I don't know, I guess they're not calling it equity. Of course, I don't know how it differentiates itself. I mean, to me it's a proxy for equity or whatever. So I don't know. But then. What's the point? I mean the token, right? You're just betting on how viral it's going to go.
I think what's interesting about dupe and I saw this in some of the replies, so I'm saying, so Nikita was touting this a year ago. So this is not necessarily a new idea or or business here. So and this is just one example that is a little bit interesting to see. I think Nikita also helped get this one off the ground yesterday. So he was he was touting it. He got some negative back on this folks saying it was already around which he responded to and jerked back this morning.
But it's an interesting new idea. We will continue to follow these tokens and clearly some some big price action early on as well. So that mostly goes through the headlines from the day. I think folks may have seen that Pudgy Penguin sale. That was a big one. The left facing Pudgy it's a one O 1, the only one facing left. So is he down a lot on that sale? Yes, yes, indeed. It previously sold for 400 ETH three years ago, so a 200 ETH loss, but in USD terms that was
$673,000. Did he comment on this? He's normally pretty vocal, isn't he? I have not seen it is. It like kinky bed bugs or something. Yes, that's his handle. So I was a little surprised to see like no, no statements on such a big it was a very splashy buy right in a bit of a controversial 1. It looks like he had a loan out the 60th loan against it. So when he sold it on Gandhi, he cleared 148th and paid off the 60th loan.
I don't see, sorry I was scrolling through his feed I I don't see any tweets about he has changed his PFP. It's like a Power Ranger or something now, but man, it's kind of painful. There was an opportunity to sell this for much more at some point, was there not? I mean, there had to have been. Maybe not. Maybe not much more, but more at some point, not more. Fungible didn't they like just everything about them went more
fungible. I think he was probably one of the last like big one of one star. So apart from punks, right, everything else is like how many tokens do you get? Well everyone gets the same amount of the tokens. Like for the points for the air drop farming it was the same amount. So like this felt like the wrong it was. He was always going to lose money on that after all those incentive change. Yeah, I think that's pretty fair. We saw a decent round of gold
and diamond sales. So the pudgy floor went to 100 Ki, don't know if you remember that Pudgies were 100K ahead of that Pingu launch. So I would imagine if he tried to sell it then maybe he could have gotten a touch more. But I think Mando's right. I think when when you introduced all the fungible tokens to this, it definitely hurts mid tears or hurts rares, but an interesting sale nonetheless.
I think the question is even at 200, will the the current buyer be able to to flip a profit on that? We will find out. Well, folks think that is the show.