Oh, yo-yo, what up? What up? Good morning. Good morning, GMG. Oh, I know what day it is. My favorite day of the week. Thursday. I love Thursdays. Always my favorite day of the week. Thursday, Thursday. Thursday, May 30th. This is last day. Oh, no, no, there's 30th. One day is in May. All right. Thursday May 30th 2020 I feel like Wolverine you know 4 442024 look at that another beautiful day to have a beautiful day. I got my Co host in the house, Tyler Mando.
How you guys doing today? I'm doing awesome man, how are you? I'm thriving, dude. My sleep score, my aura ring. See, I still have this thing two weeks in, Still there, still there. My readiness this morning is 85% dude, let's go. Woke up ready to go. My activity 87, my sleep was optimal 90%. Look at that 90%, Tyler. It's a big day. It's a big day and and the Tyler D household broke. My son is graduating from pre-K pre kindergarten. So he's got his little
graduation ceremony tonight. So we've got we've got some. It's a big day. How old do you have to wait? pre-K is like four years old. Four. He's 4 turning 5 this summer. Yeah, exactly. Maybe I'll do that. Maybe I'll do the the 4th. Thing congratulations, Tyler and and and baby Tyler. I think that's awesome. That is really cool. Wow, four years old. Your kids like what, three and four, right? Or something like that? That's right. Three and four. Damn, that's young. That is young.
Dude. I'm like all my friends are married or have kids. Dude, I am like, I have a lot of pressure on me right now. I have a lot of I'm like fucked right now. I was like, I, I get my girlfriend's giving me like death stare right now from under the stairs. I'm just kidding. She's not home. But I'm under a lot of pressure. I already, I already have a baby, OK? I mean, two of them actually with Ruggedo and the crib.
So I also have children. One of them's three years old and one of them I, I adopted him. They're seven years old, you know, so seven and three. That's my kids. That's what I'm going to tell people now. You know, I got two, I got two kids. I got two kids anyway. Yeah, exactly, exactly, exactly. Anyway, tell the show today, today. So what do we got? What do we got? We got Bitcoin, crypto, macro as
usual, daily market report. We'll talk about a bunch of stuff, you know, CME, no plans a tougher Solana futures, but there was some good news coming out of consensus for Solana yesterday. So you'll have to see that. The layer zero and the other stuff that we talked about on the show, PayPal, you have, I mean Gemini recovering $2.2 billion for earned users. You'd love to see that.
So those are good news. Even the Mount Cox thing we didn't talk about yesterday, but it shows that there's going to be like a payout coming very soon as well. So between this, that and FTX, it's got a lot of money going back in the hands of X and or present degenerates. So you'd love to see that for for sure, for sure. I mean, did you have PayPal launching crypto credentials
pilot for for beat Bitcoin? You have a lot of stuff going on. We didn't talk about Ryan Salameh, but fuck em and and then yeah, say doing our job blah blah blah. All its memes and dreams. I mean the celebrity thingy continues. Seems slash seems to be coming to an end very fast the last three days. So we don't really have to talk about it too much. I know yesterday's show was heavy about it. I think we're kind of we're kind of over it this and that there was Pac-Man, PAC Moon, sorry, V2
though, launched yesterday. Extremely impressive. So we should talk about that a little bit on the social fight side. I thought it was some very, very interesting integrations of of a few things. She really like it. I know, I know Tyler, you're a fan too. I know OV and the whole red guys, Mando, I mean, OV's literally leading the red guys to the top of the leaderboard on PAC Moon. There was a moment yesterday, I took a screenshot post.
It was like 7 out of 10 people were like, oh, red guys. Yeah, absolutely love to see that. Shout out to Burn Dog. Burn Dog was number one for a whole one minute. So, so really happy for our boy here. Where's Bernie? He's usually listening right now. He's catching strays. And then, you know, runes. Runes, baby hot. You know, in case you didn't know, there's a rune right now that has a market cap of $670 million. OK, that is like, right. Like, they're poppin man, though.
You love to see that. My, I love that I've watched my pups AirDrop go from being worth a quarter million to 20 grand to 760 K again. So it's like it's been like I and I'm holding I'm, I'm not touching anything. Actually, I don't even know how to sell it. So don't worry about it. But that's. A good thing. That's a good, it's a feature, not a bug. But anyways, it's it's been like the roller coaster, but I'd love to see that coming back.
So would like to talk about NF, TS, ordinals and all that. And then of course, Tyler. Tyler, I'm sure has a top five for us and a lot of things to talk about. My last but not least, this show is presented by Moon Pay to buy and sell crypto with PayPal. Hell yeah, download the Moon Pay app and then fair side network on X fair side network wallet coverage for drains, scams and more. Honestly, now I get it. Now I understand why Moon Pay got us to be powered by them and PayPal for this month.
It just hit Paypal's like just like hitting fucking news on news on news like they had the moon pay integration not long ago with all these coins. Now they got this like whoop, look at that. Now they got this. Now they got this, this, this Solana integration. So anyways, love to see that. Anyways, without further ado, why don't we get right into it? We didn't talk markets yesterday. So Mendo, let's hear it. Can you dig it? Yeah, So bit of a wit week I
would say. I continue to be surprised that we have been hit all time high after all of last all of last week's headlines. It really did feel like we were going to go a lot, lot higher this week. You had a little bit of nervousness around obviously Mount Cox which has billions of Bitcoin that it will have to sell. This has kind of been hanging over the market for years. It always seems to be delayed. But they did move some wallets this week and that that caused a
bit of a sell off. And then yesterday, I don't really know what was causing us to go to go lower, if I'm honest, like stocks didn't have the best day. The the they fell very slightly from all time highs, at least in tech stocks. And we have we have an important piece of data tomorrow in the Fed PC inflation. But yeah, I continue to be surprised at how weak we've been trading, or at least that we have just stuck around in this
range, right? We've been stick stuck around in this in this in this very, very narrow Bitcoin range for for a long time now. And I think people are getting a little bit bored, a little bit frustrated. And that's probably why we're seeing so many fights on the timeline again and everyone having very green views because we're just a bit bored and no one's really making big. Bored. Insanely amounts of money.
So that that's my general sense of things In terms of like the big headlines you saw the S1 filings by BlackRock yesterday. It does look like the ETF will now be either late June or early July. You saw the CME come out which is the Chicago exchange for futures essentially and said they there was no immediate plans for a Solana listing. Part of that was to do with, it was said it was to do with the, the, the outage that Solana had, which I think was very, very,
yeah. Like they, they mentioned that that was potentially one of the reasons. We'll we'll wait and see. But yeah, that's, that's clearly there is an impediment to a futures ETF. Like you can't really have a period where the where the exchange is down. No, that's, that's that actually makes sense. Like that's totally fair. And I'm talking about as a back holder. Exactly. So they came out and said that Solana hasn't really reacted to that.
Like if anything, it's been kind of Solith has been rebounding slightly over the last over the last period. I would say you saw most of the top meme coins kind of had a little bit of a mini top when all the celebrities started coming in with a hit four and then dropped about 20%. Pepe dropped. Similarly, all the ETH meme coins which have been running all, all had a bit of a bit of a
decent sized drop, I would say. So, yeah, we just had a little bit of wind come out of the the sails of of the meme market, particularly in the top bits of the market. Obviously we've seen, and we'll probably get into it like dodgy activity has predictably increased for a range of different celebrities who've come in. Yeah, we haven't really seen an increase in quality there.
It seems like if anything, you've just seen a decrease and that's taken a lot of, I don't know, attention in the attention economy game. I think PAC Moon was has done it best in terms of getting that back. But yeah, that that's kind of it. It's been we're back to range bound market I'm and I'm surprised about it. Can I ask you something, Mando? So what do you what do you think of this? I, I've been just staring at the Bitcoin chart.
I always have like a ton of charts hoping which if you're on video and reminder, we're on video every morning on X on the formula, our account, my account, Tyler, you know Mandos, you can find it. But what do you think of this? I find this really interesting. For me, the most interesting chart in crypto is the Bitcoin one right now. Like we've been range bound for three months now.
So since March, March 3rd to March 4th, we had this $5000 candle to 67 K and we've been really ranging in that 67 K average, you know, for for a while now. Yeah, we did have a bull market pull back normal to 56 something when everybody's freaking out, but we're just, we just went right back to like that exact same range while testing 70. What do you make of that? Does that mean anything like 3 months of range to 90 days of pure?
Like soon, I mean, in four days it'll be three months of pure range because I think that we're hitting $80,000 in June. I, I think we're about to see like a ridiculous candle after a range like that. But what usually happens in that sense? Or could we just chop like that? It's all. Like we could, we could chop like that for for the rest of the year. Like, I wouldn't, I wouldn't personal. Opinion on that? Like, do you have you thought
about that at all? I mean, my past opinion is what I said, which is that I am very, very surprised you haven't hit all time high with the state of the capitulation in the US over crypto towards pro policy. So, yeah, I'm, I have been very surprised about that. And I, I would have expected us to have gone higher, particularly on, on Bitcoin performance has even been confusing me. Like I, I really felt like that would just just keep going.
But yeah, that's, that's been a little bit, little bit weaker than I expected. I, I am massively bullish on, on crypto. I I've also been massively bullish on crypto and been in ranges for, you know, months and months and months and months. So sometimes you just learn to have a bit of patience in the space and that is that's relatively important. That makes sense that, that
makes perfect. I was just curious cause like everyone's so focused on like, like while this week everyone's focused on like celebrity, this celebrity that I took a step back to just look over all my positions, My Portfolio and just looking mostly majors and stuff to see where I'm at. And so I just, I just thought it was interesting. Bitcoin, I mean, look at the weekly, it's looking so nice. But look, again, charts may mean something can also mean nothing.
So, so I just thought that was a good thing to point out. I think we forget 'cause we, we're in the trenches every day, but you forget sometimes that like literally Bitcoin's been the same price. Like while people were freaking out around May 2nd, beginning of the month when we went down to the 50s, like the price has been unchanged, bro. Like literally look at this whole period here, unchanged since March, since March 4th. So so maybe four, like maybe
June 4 we see a $10,000 candle. You know what? Book it. June 4th my from my mouth. One that's 71 to like 71213 area on bit Bitcoin we've touched it about. Half. A dozen times. Yeah. Like it's, it's. That's the main point of resistance. It's literally right there 714 like it's well, I mean, that's on cracking for us with like, I don't know, maybe other exchanges are different, but literally this exact bar here that we kept hitting.
We've hit that. We've crossed it once 23456789 like you're like you're at a dozen times like those are daily candles. Let's try to hit that and go above and seems to be slapped down. Tyler, Mr. Chicago, Mr. Chicago, what you guys doing on CME Fighting my Solana bags Don't want to listen to futures. I mean, you, I I know you're in Chicago. Why can't you go knock on these people's doors and try to make
something happen for us? I, I saw a take that we weren't going to get salon futures basically until the next cycle and just kind of reflecting on ETH and that it just, it just needs more time to build the foundation. So that makes sense to me. The biggest law of news to me that we haven't talked about is PayPal. Did you see the the quotes that came out of this this PayPal announcement when they did their their? Statement, point of quote. Why do you expand on that,
Tommy, please? Yeah, let me have a post about that. Or with the quotes. Yeah, I featured it in my newsletter this morning over at at newsletter.luckytrader.com. So you can find it there. I, I also post it's, it's my pin tweet as well. But, but basically, I mean, the news PayPal officially launched its stablecoin on Solana yesterday. It came with a, a series of bullish quotes from their, their
leadership and, and executives. So PayPal senior vice president of blockchain Jose Fernandez, and I'm quoting here. Ethereum works well enough, but if you're interested in retail payments as we are, basically you need at least 1000 transactions per second and you need transaction costs in the pennies, not in the dollars. It goes on from there. So this is from the announcement.
Again, I'm quoting. Solana has emerged as the leading blockchain to run tokenized transactions and it's ideal for Pyusd as it continues to be used for payment use cases. The Solana network speed and scalability make it the ideal blockchain for new payment solutions that are accessible, cost effective and instantaneous, but broke. It's not just speed that PayPal is looking for and praising here. So the Solana token extensions were actually a key component of
the choice. So this isn't, this is including their confidential transfers that allow some data to be hidden in transactions. They're transfer hooks that allow programmability during token transfers and then memo fields. So speed, confidentiality, programmability all on Solana. Dude, so I saw UDI actually, I shared that. Yeah, they actually went viral. His tweet, he's got 400,000 views. So I, I knew about the confidentiality thing through UDI. He said, OK, this is wild.
That's from UDI. PayPal just launched his PYUSD stablecorn on Solana. He goes, yeah, I know, Jan, but it seems to have a privacy feature they call confidential transfers that hides the transaction amounts of transaction. This sounds a lot like confidential transactions, a feature Bitcoin devs have been Larping about for almost a decade but never built. And you're telling me PayPal users will have it first, LOL. And you know, he he does have a point, right?
Where like, the transparency of the blockchain is awesome. But, and that's the question I'm going to ask myself, should everybody know what everybody has? Like, are you comfortable? Like would you be comfortable, Tyler Romando, that I know exactly how much you have in your bank account? Or that's a that's been a long known issue with crypto actually 100% a post for years saying we need to add some level of privacy.
And you had, you know, as a response that you had the privacy change which came out Monero. Monero. They all, they all have since basically been banned by the major exchanges because they don't like, they don't like privacy when governments can't see it. So we will have privacy, I'm sure on chain, but I think it will be privacy where the governments are able to see it. Yeah, I mean, yeah, yeah, it's just like it's just interesting, right?
Like even all the payment methods on chain, everything I think like this, that was always like this like one thing that's like not right with crypto in the sense, right. I love the transparency and everything, but I think it's weird. So Tyler, that's some really solid news. There was also well for us what Solana followed me yesterday. I just want to announce that so shout out to salon Yeah, I got the follow back from from the actual int account Yeah shout out to a new intern.
Thank you very much. Thank you very much. But that was the big breaking news. I know we glanced over it, but PayPal USD stable cognition by Paxos will leverage Solana and token extensions to serve over 30 million merchants. And also if you want to buy soul, well, little plug, you can now the Moon pay app that's for you. Keith Tyler was what else was there? There was also layer 0 announcement from them, right? Yeah, Layer layer Zero also
launched on Solana yesterday. And I mean, this is perhaps now it's just to negative news, but we saw the all the celebrities that, that all that, that all took place on Solana. So I mean the action is, is on, on Solana right now. I mean, ETF has the ETFs, but it feels like all the momentum is over on Seoul. Yeah, this is, this is, this is really, really interesting. So I absolutely love to see it
on the Solana side. But yeah, those are those those are like the major, the major stuff happening on the on the macro level. Price just looking good to me. I like being range bound. The kids can play, you know, memes this and that. I'm not even talking about just like the celebrity. I'm talking meme coins in general. Like a lot of them are doing good. I've seen Mando you've you've had quite the you've had quite the last few. We didn't really get to talk to that about that yesterday.
You had quite a weekend and week, huh? How does it feel to be back on top? Wait, we're not, we're not. And we still got so much to do. Yeah, like, yeah, crazy, right. And we actually, I remember speaking on my show on Thursday. Was it? And you were like, oh, how's it? How's, what was it like being it? Was it like being like $4 million as a meme coin? And I, I said, look, it's just been this one on. There's one guy. And there was Bob Farnbury in the first period of that move,
which destroyed the chart. And then luckily when that stops, you know, you keep you just have a little bit of luck. You know, you have a little bit of luck if you if you if you're if you can grab attention and you've been doing cool stuff even during that period where it goes down. And luckily, I just think we had a bit of luck. It suddenly caught a lot more people's attention. And yeah, I think it's in a good spot. Like I like the meme. And we've done a bunch of stuff
since then. Like yesterday we launched a meme point, a meme generators. If you go into the site, if you go onto, go onto Epic now. It's epic.co.com. That's your website. Yeah, but then click games, games in the top left that. Always gets me. Holy shit, you've built three games? This guy's built more games than like than most companies that raised like $20 million. Dude, the. Meme Maker. Now go to the meme maker. Let's see this. How does this work?
Well, I'm not going to choose, don't worry. Just just. Go random. Now just here you go, I'll choose the photo name all. Right, then do random. Just hit the random thing where you'll just blow the image. Yeah, so it makes. And you get you can. OK, I see. With text, OK, we're going to add a ton of different characters with a dealt with different things. That is terrible. That is so funny. They're actually funny, though. They actually make sense.
I thought it would be hard to, like, generate memes that make sense, but it seems like that's funny. Menda's working. Menda's been working. Yeah. I think my take away from watching this Epic action and I think it can be applied to the whole market, right, is you just you can't miss the updates like for these tokens that you have conviction in. I mean, Epic ran up what, like 5 or 6X in a four or five day
period? And if you're like, oh, I sold it, but I'll buy back, you know, next week or something and you're off on holiday. Guess what? Like you, you missed the entire like this entire leg up. And of course, like a lot of us are still bullish that there's more room to run. But it was just like an MTS, like the UP days are so violent, you just can't miss them. You know, I feel like we're at the cost of that though, right?
Like I, I feel like we're, we're, it's, it's like it's, it's, it's starting to like happen. We'll see in, in what form, whether it's new coins or NFTS again and what not. But like, I feel like, I feel like we're, we're at the period where, where there's going to be like an aggressive like it was literally around this time two years ago that it happened. It was a summer thing where like things just just it, it happens out of nowhere.
It, it'll hit you randomly. Like Visa bought a punk last two summers ago, 3 summers ago. And then like punks went to half $1,000,000 over like it, it was really like, it was like from 40 ETH to like 100 something ETH worth $500,000 in like 2 weeks. That's the thing. That's why I'm like, I just want to be locked in honestly. You never know when you have to run to your computer or to your keys and just have to buy something or or sell something into liquidity.
Because this cycle Dashante Naveen, founder of Tari TTMR, take the money and run. He learned that from Bon Jovi. Actually, fun fact, TTMR, remember those those this acronym TTMR take the money and run this summer. Anyways, Justin as well. And that's cool that you, you you covered that as well on the macro side, Tyler MasterCard launches crypto credential pilot on Bitcoin. One thing that's been really cool MasterCard and and we know the guy at at on the web three side of MasterCard, great
person. Actually, he's been a listener of GMNFTS, Mando since GMNFTS, then GM Web 3, then FOMO Hour, then the second narration of FOMO Hour. Tyler, So been listening for a long time. He's good friend, he's awesome. So Mastercard's actually been dabbling in the space for a very, very long time. They announced the Other Life Munpei partnership the other day, and now it looks like they're in getting involved in Bitcoin. Tyler, what's going on that
front? Yeah, they're all not these aliases concept is you can it's easier to to send payments to someone via their name. So I can send it to Foroque or foroque that that Bitcoin or whatever your handle is versus your wallet address, which is always going to be a hassle and you're super scared that you're that you're doing it incorrectly. It it hasn't rolled out super far. I think it's on bit me, it's on a few other exchanges, but I mean the core concept, you know,
makes a ton of sense, right. It's similar to to ENS and it's just gonna. Make ENS that's a. Little easier. So is it dot something? So they're not. So is it that they're not even using ENS? Like they're not using ENS or dot XBT or dot BT like it's just their own? Yeah, you're gonna set up your own credential with MasterCard. Isn't that bearish ENS and all the other domains like question to both of you, like Commando, you were big.
Like you had three digits with OV at some point and we talked about ENS and we were bullish on it. But like, isn't that like super bearish for all that? I wouldn't say it's super bearish. I still think ENS, you know, ENS is linked to Google Now You can Google search people and stuff like that. Like ENS is not not doing integrations. Yeah, but like there will be. Upside is now no longer like, oh, we're going to get integrated in the big companies.
No, the big company is not integrating you. Well, it's just, it's really just again, it's like a web two way of doing it. Your ENS you own, right? It's your, it's yours, it's Rev. I actually for 100 years now. All this is is just your MasterCard account is just linked to that address. So like it's it's it's just like cash app essentially, but that done that way.
So I don't think I think this is yeah, going off to maybe some of the ENS market share, but I think ENS is still going to have a core group of users who want to have custody of even their own identity, right. They see, they see ENS as more like an identity thing than just a, than just an integration for for a for payments. Yeah, OK, well, that's I thought that was interesting, like more adoption. There's there's so much cool stuff going on like across the board at the moment on the space.
Like it's easy to like get sucked into like the attention thing of the celebrity coin, whatever for four days. It's cool to talk about on one show like we did yesterday, have a broader convo. But like there's actually like I wrote about this, yes. I'm like, dude, everybody loves to get sucked into something, but look at like it's like look at look at that price action on on, on other things. It's really awesome. So I'd love to see that anyways,
Tyler, Tyler, what else? What else you got? What else you got for us? I'm actually curious to see what your what your big, big topics are today. What's? What's going around? Yeah, I think the biggest other news. Hold on, hold on. I I every excuse I have to play your intro, I have to take it because it is a banger. So I was thrown off because you didn't play it. So let's roll. Tyler one don't you gave us your top news of the day four Jelly NFT and crypto analysis Tyler
did on FOMO. Our calls. The kid can't. Bring the back some bears top story. Arguably Biden. The Biden administration is reaching out for crypto advice and advisers in a major tone shift from where they've been over the last months and and the years. And now the Biden token over on ETH has pumped in its wake. So we're seeing more political meme coin action driven by real politics. The other big news today, it's
all a blast. So blast shared gold distribution for only 10 million gold versus 15,000,000 expected distributions to the dabs, largely in line with most expectations. But it did lead Sam Stass now to raise his gold price estimate to, I believe, the $7.40 or so. No way. Raise those targets and then this also Pac-Man Pac-Man introduced the full detail behind its new social validator concept.
A new twist on their tweet to earn model where validators like creator tweets instead of the core team. The market liked it. That PAC token jumped about 12% on the day to $50 million market cap. Another cool but maybe overlooked story is is happening on Blast is out of Blast and Pepe. It's a new collection. It's launching with a floor lock feature. They're calling it Flock. It enables minting with 0 downside in their words due to the mint proceeds all going to the LP.
So if mentors don't want the NFT anymore, they'll be able to get their money back out of the LP. Those are the big round up on blast. But runes? Runes are back. Some would argue maybe they never left, but Dog Dog is quite literally going to the moon. It passed a $700 million market cap. I think it's 7:30 at peak yesterday. Or right now. Wow. Yeah, RSIC pumps 30%, several runes jumps 20 to 40%, some of the micro caps. So cats in the sats is up 120%. This mega token up 155% on the day.
So there's big action like this. This is one of the hottest token markets to trade right now, and it's over on Bitcoin. Yeah, dude, it's, it's happening. I mean, there's a, there's a pretty big resurgence here on the on the rune side. I mean, the dog, that dog one is crazy that, that, that dog Ruin is really pumping hard $708 million market cap that position. On this trade I I I so whiffed on it.
So I, I have AI still hold a a fairly large RSIC position and I had 20 of the NFTS for like the entire time. And I had a couple runestones which led to the dog token. And I had a conscious thought, should I diversify hedge my bets here in, in 5050 split with runestones And I just didn't. And, and I picked my horse and I mean, dog is the clear winner right now. It's three. You're like me and and pups right?
Like I picked my horse, which I have some RSI see, but I'm much larger on pups which actually where is it? The fuck It was here yesterday. There you go it's at 167,000,000. It's not bad. It was up. It's up a lot from where it was, that's for sure. It's back to the level. It's back to like the pre Arthur Hayes on some level, you know, I think you don't. Forget like I mean it. So I I was somewhat early to pups.
I bought in at like $3 a token. It then went to 20 to 30 and then initial and some pump and then it went to 90 in the in the Arthur. It all happened in like 3 weeks. I didn't. Sell them then. It's probably, I mean arguably one of the biggest parabolic rises we've seen from any token this year. Perhaps Turbo has it beat now, but I mean, it was just an
insane run. And then it all just is The thing is like it's still up 5X from where a lot of like the earlier folks bought it. If you bought pre Anthem, you're still up very nicely on the trade. Now the question is, is it ever going to go back to the the Arthur Hayes pump heights? It's hard to see that path upwards unless like everything just levels up massively, which I guess is still an outcome on the table.
I mean, I I think it is I mean, I think it no. Will it go back to that pre level? I hope so as a bag holder, will will it go like will it do well? I think it's still looking good. I mean, what happened is that you know, you have you have, you know, kind of like all the other chains like you have dog doing really well on the rune side.
She always have that like that one that needs to carry the market up. Clearly it's dog in that over here you also have runes like RSIC that's doing really well, etcetera. So you have all the other ones. And so I think it all depends. There's a there's a just if you're a holder, you got to make sure that you're you burn there's like on the pups thing, make sure you burn the the ordinal to get your to get your your runes. Is it there's a limit, right? They're going to.
Do it soon. I don't know the exact I I think I it may even be like June 3rd so. Yeah, and what's coming up? It's coming up. You know, 'cause I had to spend the weekend consolidating. Dude, I had so many wallets and I thought that was going to take me a while and a lot of money. And you know what? Bitcoin transfers have gotten way cheaper. Maybe it's because I did it three days ago before the entire
ecosystem pumped again. So like when puppets were .1, I was like, fuck it. Like no one's trading ruins. Like let me like move my stuff around. So my fees were minimal actually. Like remind me of like ETH. It was like Ethereum fees to transfer ordinals and like burn ruins, etcetera. But yeah, June 8th, June 8th, Junius is the deadline to claim. So you if you had the the actual ordinal of the rune pops, you have to do this or you're going to lose your money.
OK, So make sure you do that. But overall, it was good to see. It was good to see Ordinals also have a balance, Tyler, you know, seems like puppets kind of bottom there. Let me pull up D Gen's here. But seems like we kind of bottomed on the ordinals thing here. What do you think? I think you have to think that if the runes are going to level up here that we see some flow back to the the NFTS and they still like the big four in, in ordinal, still feel like fairly safe bets.
And especially if you compare them to some of their ETH counterparts. And the big four, again, no monkeys, Bitcoin puppets, Quantum cats and O&B that they've effectively just been jostling around and they've all been going down quite a bit. But we're up. Puppets up 60% off the bottom, nodes up 2020%, cats up 2030% off the bottom. So some nice movement. We need to see more than a couple of days before we really call this, call it the bottom's in.
But if groups keep pumping, then I think we're I think there's a good chance that the bottom is in. Yeah, that's nice. Mando, you didn't, was it you? Were you the the whale that that swept the puppets or what? I know you like the puppets. I didn't. I didn't. That was. Yeah, it's now it's much easier to trade them, right? It is as in Magic Eden. I like you can. You can trade them now. I think that runes are going to
come back. I don't think anyone called the death of the death of runes it was. Just oh, I saw, I saw a few crazy. Expectations. I saw a few, I, I, you'd be surprised. You'd be surprised. I saw a few deaths of ruins. Yeah, yeah, yeah, yeah, yeah. I because I I dabble a bit in that part of CT like I there was a lot of people actually called the death of ruins. Like a lot I think crazy expectations going into it, right? People have still done 100 XS,
you know what I mean? Like like a lot of these have been crazy trades already and people are looking for another 100 X really on top of that, yeah, Ruins isn't Ruins is going to be here in a year, you know what I mean? Like and that normally will mean that everything's going to be higher if Bitcoin now goes to 150 K like I do think that these are going to go higher. I think it's just choosing the winners really. I've been surprised that that puppets lost out in the culture game to dog.
If I'm honest, I'm. Surprised all the pups and dog thing honestly that was my. Obviously I voted my wallet and I lost their but. But a couple of thoughts. The Anson thing really was kind of, it just suddenly felt chilly, you know what I mean? And like the wrong people got in like all the. Hazel, that was a Black Swan. That was a Black Swan event for us. It was good why it lasted though, but we didn't sell. Across the culture, the game here.
But do I think do I think pups could could go back to all time high Yeah, very easy. I think it takes a bit more time. I think what Tyler said is is probably right there like this isn't. I think ordinals and ruins are going to be here in the next multiple years. And you know, I know it sounds ridiculous, but like crypto punks, like they go up and down
all the time. And who knows in five years, like where the where the these things could all be like they could all build up culture all that time. Like who who actually knows? But like there's definitely a world in a year's time where Bitcoin puppets are a lot higher. The tokens I'm less certain about, but the I think the the ordinals I'm I'm I'm super bullish on so. Yeah, I wouldn't worry there. It's true. You should have seen it though.
It was like the death of ETH NFTS but all over again for like ruins and ordinals last week when like pups hit like .1 nearly went sub that it was like people were dancing on their grave. I mean, Tyler, what do you, what do you think of that? Well, maybe we needed that.
So I think a part of the problem with pups is, well, hey, like so many of the pups, like they came from zero, like anyone could have bought these for for next to 0 when they first minted and they were the underdog story and then people latched on to that and then they started getting the air drops, which was great. You know, they had the strongest community, they had the strongest culture and they and some and Arthur Hayes thing happened and they were no longer the underdogs.
Like they, they were the the clear favorite and leader. And in some ways they started kind of dunking on other collections. And that's not everyone, but that was kind of an aspect of how it played out. And the the meme wasn't as cute when they were like the number one dog at a, at a $900 million market cap. And maybe that's narrative falling price action, but they they kind of needed this this arc to go back down to become perhaps the underdogs again. What I will say, I don't know.
I don't see the puppets on the timeline quite as much as I did. Like, I feel like they they were the ones kind of driving a lot of the the meme coin chatter. They were kind of in all the circles back in late Q1. You hear that puppet? You hear that puppet? Let's go, let's go. Let's, let's, let's bring World Peace again to to the timeline. Let's let's get let's get, let's get that World Peace get back up and and that energy in the in the in the on the, in the 2X.
Anyways, the other thing that you talked about that I kind of want to double down on quickly here is pack. I I, I tweeted about a few times yesterday. Of course, like I get to to to participate. It was like double the points, I think, or triple for like the first two hours, which is awesome. We're on the leaderboard. We're there. Tyler, you you're up there. Tyler is up there. He's right there number six. Golly, Jesus, a lot of familiar faces on that board. And so look at this.
I'm ahead of Jerem Powell of blast. Love that. But dude, honestly, like I really find this fascinating. Like what do you, what do you, what do you, what do you think of all this? Like it's the way they came out with V2 where like you have the creators that can earn for creating content that has like dollar sign pack, I think, or pack one, whatever. And then you can be a validator for holding over what 10,000 pack tokens and think that's what it is.
And then each like so let's say for example, let me show you the back end of my profile. Like you know, this is people that are validators liking my post about pack, right? That's what it is 'cause if you click here, it's this one and and I get to earn coins for this. What do you think like of this rollout? I thought it was great. Yeah, let's just all back up and just explain it and then we'll go into some of the details. So yesterday PAC Moon officially rolled out its V2 with its
social validator concept. With this social validator model, creators tweet about PAC Moon validators like those tweets from the creators. Creators earn points based on how many validators like the post, then how much pack those validators hold. So it is weighted and then validators will split their daily point allotment based on how many creator point posts that they do like.
So to be a validator you have to hold 10,000 pack to be eligible and then as a creator you basically want the the largest pack holders to close. Like OSF, big money is up for grabs. So each month $1 million of tokens will be airdropped, 70% of those going to the community. Based on these points accumulated. I think the other interesting aspect here is the incentives to become a validator. So while 75% of that community AirDrop goes to the creators, 25% is going to the validators.
So right there you have a nice little incentive to try to boost up to that 10K pack threshold if you aren't already. I think a few other interesting aspects of and why it could be rolled out for other community tokens is it takes onus off of the core central team and now into the community. It allows for true community favourites to emerge on this leaderboard and they've effectively built a model that could be copied and and rolled out. So it's kind of an interesting one to watch.
No, definitely. I, I really like it a lot. I actually told my team to pay attention to what they're doing because I thought like out of all the social fine integrations we've seen so far, like so many of them have been spammy and weird and like pushy, you know, something like this that comes out and that's has a good vibe to it too.
Like the whole pack moon thing, like it's a good at this stage because they've had Four Seasons, right for V1 and all of them had like bullish on logs and this discharge looking bad. I mean, Amanda, what do you what do you think of pack here, dude? And we've talked about it a little bit. You were saying on the show also like your blast exposure was through pack moon. I know OV's obviously really really big in that eco but. It's. Looking good. Good, good coin, good team.
I don't think it's your classic meme coin. I think it's. No. It's like these culture culture coins. We've been, yeah. I don't think it's a meme coin. Feels more like a social fight experiment in some ways. I, I think it's nice. I think in a in a let's say we have a second AirDrop world, I think it would also probably do well with gold distributions in the future. Like, I don't think this just like dies after after the the the the blast AirDrop. So yeah, I like it.
I like it. We like the only the only thing is it's the FTV, right? It's it's, it's although it's 50, it's 150. Yeah, right. And they do. FTV sorry. I think that's that's the one thing I would say it's like it is predicated on future awards. Yeah. So you have to be aware that if that diminishes what keeps everything going because it is, it is really like it's built upon future supply being used to incentivize people. So, but that's maybe not a question for right now.
I just, I'm just that's, that's kind of what I think it's like you. It's not one of these coins where you don't have to look at FTV because I think FTV is very important for this because you have to think what is the end game after that. But yeah. Did you guys just see this? Go ahead, Go ahead, Tyler.
A couple of thoughts. So one, so we've already seen the the three three version from Frintex start to to get applied to this with like for like folks are just like shamelessly plugging themselves and saying, I'll like your post if you like mine. So that's a little bit of a of a risk to the this core, like the ethos of this model. I thought that was interesting, but I think the larger point is
there. There's so much money on blast, there's so much ETH on blast and it doesn't feel like many of the whales are are really ready to deploy it into these tokens. I mean, PAC moon is basically the only token that's had much success, reached a 10 figure market cap. I mean, it's at 50 million, a 150 million FTV. So that's pretty high. But I mean, other than like OSF and the and the OG general, like I can't even name whales who have really deployed a ton of capital into this token
publicly. And I guess this close to TGE and with the expectations of how big this AirDrop is going to be, I'm, I'm a little surprised we haven't seen more. Yeah. Take. Yeah, no, I agree, but someone has to build a framework, right? And I think that them being that like, I wouldn't be surprised like that more people, companies coming out and using what they're using. Anyways, I I know the news. I I got to talk about this for a second here.
I didn't realize because I just saw this in the chat, but it came out like one minute before show started. Did you now I know why turbo pumped and I don't want to hear that it was because the artist has been pushing on other platforms and stuff. I don't want to hear anything anymore. It's launching on Binance with futures. It was announced this morning. You're I don't like this is like you're timing inside like this is like there is that's why I was wondering.
I know no one in turbo no red. He's a good guy. Actually he was on stage with these circumstances. So this is not red like these are like these people don't have any control on this. Amanda, you're muted. This is we were all wondering who the fuck was buying this. Maybe they got a market maker then who who could do something like this. But you've seen you've seen DVW on the timeline for the last week, right? Just read, read out some of like it it.
These guys, they're all they really this, this is the move. Look at this. OK, So on May 21st, OK, your timing insiders had nine days to accumulate. No, sorry, they had all this time accumulate and it was nine days ago. They they rented up to $600 million / 9 over the period of so nine days ago to May 21st to May 28th. So they rented up to 600 mill. Obviously on the news it turbo dumped, I mean, still above, it's still above $400 million. But this, this is wild.
Like this is like there like this is like it's like in it's obvious, like it's like out there. No. Yeah, I mean the the the, the whole and I'm missing shock right right now. I I shouldn't be I I didn't know the whole during that whole pump, two things. I didn't know a single person who was buying or trading turbo or talking about it. And and two, no one could explain why it was happening.
I mean, usually, like we can all create a narrative around why these things are pumping and and no one could come up with anything. And like I was posting about Sam stats was posting about it. I didn't see any half decent reply on that. We know. Dude, that it's that is honestly that is like probably worse than all the celebrity stuff people all get mad about. I'd rather get front run 400 grand dumped on me by a celebrity than like this is wild.
And now I do wish I knew fuck or that was that was in it. But I was wondering, you know, Melissa's awesome. She was like, look at YouTube. There's a campaign going on YouTube. I'm like, but why is it $600 million, right? Like, wow. Well, congratulations. So I was on this this panel on Tuesday at the NFC conference. And it was asked to us by the host who was like, do you think AI and meme coins could like get
come together at some stage? And said Bourget, who sitting next to me was like, yeah, like I really do think that one day we'll have a meme coin which is like created by the AI and and it will probably go at all time highs. And I was like, he doesn't know about Turbo. But it's interesting that like that is a good story. Like it it could be an increasingly cool story in the
future. And I just thought that that it was an interesting take by him for somebody who didn't know the token was looking for that as a token. So I do think maybe this thing could keep on going. Like it's got that sort of normie thing to it that people like the story, and I think that's where people liked it to start. So I'm not that bearish. No, I'm not bearish. I'm just, I just love how on the timeline, like every time I post the charts, like, why is this?
How is this happening? And like everyone was like, oh, because of the cute little toad. Or look at what they're doing with the art, bro. Like art does not send the coin to seven. I think like people need to start realizing like art does not like your NFT drop, does not send a coin to $700 million like that. Like Mando runs a fucking coin. Like look at how hard he's working. It's like you're seeing the guy
do it every day. Like, like even your favorite celebrities, even if an A Lister came to them tomorrow, they couldn't send a coin to $700 million. Seriously. Like this is like, wow, that's awesome. Well, look, looks like we missed a dip to buy if anything, Mando, because that thing went down on the news, went to let's find it right there. So around 6:45 AM today, oh, look at that. Three hours before the news came out. Even so before the news even came out, it was dumped down
here to this level. I don't know what, what market cap that puts it at, but it's much, much lower than it is now. It's like what, three, 402, fifty, $300 million. So, so that's, that's interesting. That's, that makes a lot of sense now. Well, case, case closed, we figure it out. We now know why turbo went to 700 million. There was an insider pump because they knew it was going on Binance shit, I feel I feel liberated right now.
All right, there's that and then and then the other question I had that I want to go back to before we close up, we shut off here Biden. So there was the news from the block, which obviously like everybody like have to tread lightly, like, right, shout out to the block, right? They're doing some stuff, but it's an it's a it's a it's a source. That's not stocks like there, it's an anonymous source, right? It's like could be anything. And I, I went through the article.
It's like it glosses over it. So we're not sure. But at the same time, it's not surprising to hear like, oh, Biden campaign ramps up crypto industry outreach and surprising tone shift. I have a question for you guys on the coin side. There is a million Trump coins like the other day when I posted by Trump and like, what coins are we buying? I had every single bag holder on every chain after me. Buy MAGA, buy this buy the ruin. Buy the soul by tramp by Trump on ETH for Biden.
Is there only Boden? Who's Biden? Oh, there is. I posted it this morning. Go go look at the chart. Oh, so they picked the ETH one over the solana one then because the solana one did not move? Yeah, it's on the ETH. It's up 8X in the last two weeks. Interesting. OK, I did not know there was a no way that there is a there's an etherium. Oh wow. Look at this is a wild chart, basically went to zero, like for folks who aren't seeing it. And then it's, yeah, it's, it's up 800. Percent.
We bought. We bought the wrong one. We bought. We bought the wrong Biden. It has to be the like if you think the Trump token on ETH is the the leader doesn't isn't that an easy narrative that the Biden token would be the the easy beta? Yeah. That's, that's interesting. OK, that's, that's interesting. I did not know there was an theorem equivalent. So do you do we think of what that so the people flocked to ETH over Solana?
Interesting. So we, I mean, we saw Pepe, right when Pepe ran on the ETF news it, it reinvigorated the entire ETH. Token Market Odin did not run on the news. It's actually kind of been that downward spiral ever since, because they are the Trump coins have been kind of have been kind of kind of like, you know, overshadowing it anyways, so that's a that's a good round. Look, I think we went around the board today.
It was good. We talked to NFTS coins, memes, majors, news, even CI mean everything. So so I think that's a good that's a good wrap around unless there's anything else. I think that was it. So we'll see y'all tomorrow morning, tomorrow morning, Friday tomorrow already. Oh my God, wow, the time is flying last day of May tomorrow, so selling may go away. So everybody's coming back on Saturday. So, so, so be ready. So everybody left and everybody, tomorrow's our last day together.
Just just all of us in June, everybody's coming back, OK? So make sure you pack your bags before the month of June, OK? So and let's see what happens with that, with that, with that. We'll see y'all tomorrow morning, 10:00 AM Eastern Saturday time for another episode of Formal Hour on Rock Radio. Let's go.