All right, good morning. Good morning, GMGM. It is another beautiful day to have a beautiful day. Welcome to episode 147 of Omo Hour. Today is Thursday, June 27th, 2024. No, for Oak today. He is out vacationing in Ibiza, it seems, it seems. But I think he's gonna be back to us tomorrow. But we've got Amanda Manda's still showing up every day and, and what a day it is. What a day for Solana. What a day for for the Duck. What a day for the entire space. Coinbase is suing the SEC.
We, we might have some salon ETS. Manda, Jim, how you doing? I'm doing amazing man. Great day today. Woke up feeling bullish and yeah, the news just hit it just before we went live. So yeah, the Sky's the limit now, man. The the sky is the limit. You nailed the call. We'll, we'll get into it all on the show here today, folks, We, we've got so much to run through. I thought today was going to be a little bit slow when I went to bed last night could, could not have been further from the
truth. So breaking news this morning, Van Eck has filed for the first ever Solana ETF in the United States. That came just minutes after the Coinbase announced they're suing the SEC and the FDIC effectively for preventing US crypto companies from being banked. So two big pieces of news there. We've got the US government, they've been selling Bitcoin, but we don't even care. Prices are moving up here. This morning blast settled at around the $2.5 billion FTVI. Think it's a touch lower now.
Somewhat of a disappointing day one, you're at POC. He returned after a 2 year silence to complete his censored collection. We've got an NBA Top Shot settlement coming and might pay out $0.12 per moment if it does go through. first US presidential debate tonight. That is going to be a huge one for the meme coin traders. Then Theorem Mathis back in green on some lower volume, but who cares? The farmers are gone and real buyers are stepping in. We've got a lot to talk through.
Before we dive in, we've got to do a quick shout out to our partner. So the show is powered by Moon Pay. To buy and sell crypto with PayPal, download the Moon Pay app and follow Fair Side Network on X Wallet coverage for drains, scams and more. All right, that is our intro Sims. Do we have the jingles there? Should we just dive right in? Oh, we have them. There we go. Can you dig it? Yeah.
So a lot to pick up with today. We had a decent bounce actually already before this news came out. Bitcoin had kind of held the levels, even though we had news that the US government was going to sell some yesterday after a court ruling. So the German government selling some and you have these, this overhang of Mount Gox, but we're still rallying, which just showed a bullish sign.
I said two days ago when we did the show that I, you know, I felt this bounce could keep going to 63 K area May maybe 6364 K. It feels like we're heading that way and that Seoul could hit 150. We've kind of hit that around that level already on so on. The reason for that is, is because we got some news just before we went live that there is going to be an application from Vanek for a Solana ETF. They are they're not the biggest
out of the ETF issuers. Obviously BlackRock, Fidelity have have seen the majority of the inflows, but Vanek have have really kind of been. I. Don't know, maybe the most crypto native. I feel like just just they've been very, very bullish. They obviously have been putting out a very bullish thesis on Solana and on Eve most recently and they've been talking up even the ETTF recently. So they, they, they definitely I think got one foot in the whole crypto rabbit hole, perhaps more
than the others. They're applying for a Solana ETF. It's an S1 filing. Notably with this, we do not, there is no CME futures, which was one of the main reasons why the ETF got announced or got got let through. It was said because there was some reference for a lack of manipulation in the prices and we've had seen recently that the CME actually had blocked a Salama ETF for at least called delay, but this is still significant. I I think this is more if Trump
gets in, this goes through. If he doesn't, then this could probably get caught up with Gensler and Biden and Warren and this doesn't go through. Obviously. The SEC is called Solana explicitly as security several times in several different court cases, although none of them have been directly against the Solana Foundation or any of the Solana Co founders. They've been more against the exchanges and call the Solana security through that.
They've obviously had a lengthy description here about why they believe Solana is a commodity. It obviously has very similar, a very similar launch to Ethereum, you know, obviously VCs involved in the launch, but but yeah, not dissimilar. And with with Eve being called a commodity, I think there is a very strong case that Solana could be too. And the, or the SEC would be challenged on its view that,
that it's calling IT security. So I think they've they've gone down that route, although this would be, you know, this could easily be rejected just because there's no CME features. So it'll be interesting to see if we see even people go after futures ETFs. The next moves here really in my eyes are does BlackRock apply for one, there's ARC can apply for one and does Fidelity apply for one? Last time we had I think ARC applied for the first ETF and
then BlackRock followed suit. It will be interesting to see because this is like somebody firing, you know, the, the starting pistol and let's, let's see who else decides to go after it too. I don't think there's much risk in applying to these sort of things like it's just paperwork at the end of the day, like there'll be some fixed cost for doing this. It'll be more costly if they fight a decision for, for it to be blocked.
But I, I think there's very little risk for BlackRock or Fidelity or any of these others being like, yeah, we might as well file this, this very little risk. So I think we will probably see more filings. The success of those I think will probably be delayed until after the election anyway, but it's just a very good sign.
I think for me, I, I put out that tweet earlier today because I just, it just looked like Solana had retested a decent level on, on Sol BTC and on Sol Eath and I just felt like it, it could, it could really rip. Maybe some people knew yesterday, obviously Fennex, a massive firm, they, they would, some people would have known this was about to be filed, but I think it wasn't. It wasn't like it was massively
outperforming even today. It was up 1% when I did the man in the minutes and so was it Eve. So it wasn't like it was like Sol Eve had just gone 5% higher. Although today on that news, salon hit 150 and then people are searching for Solana beta, obviously. So meme coins whiff is probably the biggest of those. That's that's up about 20%. It looks like that's what about
10%? Sorry, Bonk. I was up about 6 or 7%. I think people get bullish on some of these stories again, and I think the, the other half of that is that it may slightly take away from the ETH narrative, which I think has been, you know, they're getting an ETF and that's going through this at least for the next couple of weeks or even a few months, like people will be like, well, Solana's getting an ETF. You know, it's going to be quite easy to come back at that.
So let's see I, I, I would still say the chances of this going through are below 50%. You can already tell from the from the Bloomberg analysts commentary that they think is low or being 2025. That being said, they thought that about the ETTF and at the end of the day, a lot of this is down to politics and down to money. So we'll just see how that develops, if I'm honest. It's a lot to unpack. Thank you for walking us through your thoughts. So has this changed anything for
you? Have you started making any moves? And granted that the news is breaking, it's like, I mean, I feel like just a few, just like a week ago, like it seemed like the Solana meme coin market was like perhaps that it was just dead is too strong of a word, but that there wasn't much signs alive. And now it seems like everything is already flipped in just a
matter of days. Do you think Solana continues moving from here or is 150 kind of the natural move up with the information we've got considering it's still, you know, months away from even a potential approval? How are you feeling about this from a trading perspective?
I think it's quite notable that Solana is up about the same as the top meme coins on Solana. And I think that's like something you should pay attention to is, is that that tells me that Solana might be just as good a play as Solana beta. And I'd be wary of being like, I need to get Solana beta. Like maybe maybe levered soul is even a better trade than meme like some of these meme coins here. I do think that I'm not saying
it's bearish for meme coins. I'm just saying that for me, that move tells me that that Solana is is still a good buy here. I mean, he's down a lot. Solana was trading it two months ago, you know, closer to 200. I don't know where that where where was the was it March? It hit like 210. Yeah, I think everything peaks around like the end of March, right?
Pull up the chart here. I mean that unlike I would say many other chains, there's been some really bullish news for Salon. Like in the last week alone, you've had the ability to send Solana by e-mail, the ability to do any transaction on X. You've had a huge tech upgrade for ZK compression. You've got fire Dancer coming like these, these guys don't stop.
So there has been like this, there has been material upgrades continually in Solana, which means that when it, when you get something like this, people can get really bullish on it is basically what I'm saying. People can get really bullish on it because they're like, this was the final piece of that puzzle, which is right. It needs ETF, it needs institutional adoption. And if it can get that, even if there's a slim hope of it, then everything else is working
right. Everything else is, is, is really working on, on Solana. Maybe the downtown thing earlier this year was was an upset, but other than that, there's there's not a lot you can throw at at Solana here other than, yeah, maybe meme. It's captured meme coins, which are a lot of people have thinking like a vaporous, but the fact that it's captured, it is the important thing for Solana here, in my opinion. I I think people can get very
bullish on that. So I don't know, but it really wouldn't surprise me if this started moving moving a lot higher. I think that everyone's always looking for the narratives, right? I think there's a lot of questions of of what is the narrative for Bitcoin? Was it for Ethan? I feel like Solana's got, I mean, the the narratives are out there like you've got fire dancer coming if they're launching all these improvements at at breakneck speed. So I'm with you. I think it's caught a lot of
backlash. I think because of meme coins, celebrity meme coins, everyone just effectively is, is aligning that all the negatives of the this meme coin cycle with Solana, although they exist across chains, which which has been interesting. I think it's a lot of this, the tribalism coming out, but it's a good setup. It feels really strong. It makes me want to have more. So I actually wonder if this is a negative for Blast and it's
just a negative for EBMS. That was like my third thought, which was like you asked me what there is still a lot of things that are doing air drops in Solana and and they haven't really worked out. Although people were farming. That was the what a lot of people were farming in Q1 and then they a lot of those moved kind of onto blast when the gold stuff started happening. I do I do think this is probably
the the bearish for blast. Blast is definitely not done well off the back of this headline, but it's not my first thought. It's one of these things where I don't think Solana cares about blast, but blast cares a lot about Solana. So like, I think people on Solana are really just like, wow, there's like this is this is really, really bullish for it, but it probably does paint a different narrative of, of for people on on blast who are looking, what's the most attractive farm right now?
There's going to be some more interesting stuff potentially on Solana if if this narrative continues. Yeah, a little bit. Let's dig into that for a minute and we'll come back to slang. There's there's more I want to talk through, but I agree with that sentiment because I, I personally did do some rotation from the Salana Casino over to Blast in the last two months ahead of this tge. Now we've got the details for BLAST Season 2 at a high level.
So it's going to be a year long. It's going to run until June 20, 2510 billion tokens up for grabs. The gold is going to be distributed monthly, but that's all the info we have. We don't have any information about if there's going to be Blast taking. You know which apps are going to get prioritized, but that's still expected. But 12 months is the big take away and like that is a long, long time and the people's attention span is that of a house fly.
So it's, it's very hard to see a lot of folks just ready to dig in and start farming here in in July. And if the, if the water is warmer in Solana and the casino is back open, I think that's what we're going to see rotation back. I think we're already seeing it a little bit in in in the blast chart here this morning. Of course the wild card is if they pull out any big updates here, which I do still expect Pac-Man to give us some more information reasons to hold blast incentives.
I guess just quickly are, are you surprised at the 2.4 billion we, we talked about this for a whole show yesterday, so I don't want to spend too much time on it. I'm. Definitely surprised. I think I I I've said I thought it would come. I honestly thought it would come at 5:00 and then or at least parry to ZK right? ZK moved lower when it was at 4.
It felt like it would be, it would be close to five and then ZK move down to three and then you're thinking, well, we probably could come let's say between 3:00 and 4:00 at the same time. It did kind of touch that three level and then got flooded, then it went down. I agree with you, like 12 months is a long time. I'm a they're now going to be like a full chain. I didn't really understand like the tech behind that, but like maybe, maybe there's going to be some differences.
I just don't know if your average user actually cares that much about that or like if the delta evaluation will be that high. I think people just want to they'll care more about the apps themselves rather than like what the actual chain is is building out. This is a still a success for for a lot of people. You know, I, I think it's if everyone had been following the avo price the whole time and you know, everyone's been like, right, well, Avo's been pricing this at 3.
It's going to come around there. Would this spin scene as a bad thing. I just think everyone, it's all this is a failure of expectations in my opinion, rather than a failure of of like it's all relative. You know, it's like people, people, I think there's a, there's a like a psychological thing around that, but I, I forget what it's called, but yeah, people have just been anchored to the wrong expectations when actually this is, this is, this is a win for a lot of people.
A lot of people didn't put in that much money and farmed and, and did well. I think the people that have lost money are the people who who play DJ games on blast and they, they were similar to blur farmers where they were like, well, I lost some money, but don't worry, I'll get some gold. Like I think that that was the, the error of people. And I think that's really just gambling culture.
Like, you know, you get told you're going to get some sort of AirDrop because you lost, even though you lose money, you kind of, you kind of protect yourself mentally by saying, Oh, it's going to be OK because I'll get all this gold. And that's probably where the fallacy came. Like if you're going to if you're going to do degenerate shit and you lose money, don't expect the AirDrop to to save you. Yes, mistakes were clearly made for folks who got over invested in some of the apps there.
There was ways to do it with with much less capital risk. And I think folks, the folks who did that had a much better time. Still a huge win. The vision is a big one, right? They want to be the full stack chain basically they they want to be able to go from bank to blast to that. So cutting out potential exchanges, cutting out desktop wallets. They they released the mobile app yesterday. I got a chance to play around with a little bit still in its infancy.
You know that they want to have they've got a wallet tab in the app now, but that's not going to be live until Q4. So I think this is going to take a while to play out. It is my other read in all this. So like, I don't know that we're I don't expect a whole lot of violent price action. I guess it's kind of where I'm going with this in the near term, unless we get some big incentive announcements coming in the next few days, which is becoming less and less clear.
Because the, the gold, the points distributions are all going to have to be so like linear across the whole year that now it's harder for me to see like the immediate path upwards. I think a lot of folks were also talking about wanting to buy it too, selling at 4 billion FTV that that's feeling a little tougher here on Day 2, but. I think just because of the Solana headline, if I'm honest,
I think, I think it had a shot. It looked like it was forming a cup and handle and could have gone up, gone up up there. But then now people are going to be like, well, so on. I might have to, might have some strength here. I, it's difficult with Pac-Man because I even know this from, from our own projects. Like you release something and then the community's like forgets about it in 5 minutes and goes like, what's next? What's next?
Like you fucked all this up. Like you need to do all these, these other things. And it is the resilience to be a founder in web three is, is can be very, very tough at times. So I, I probably, he's probably sitting there going like, man, like I just built like a whole chain here, you know, like I built a whole ecosystem, whatever it was the 5th largest on chain economy. And people are pissed at me because they had an $8.5 billion FTV estimate or whatever it was.
Like, I think that's probably the part part. But he also at the same time, the other side of that coin is that he does promote himself as the Ponzi king, right? Or like he definitely leans into that. And if people don't feel like that's continuing, then that's probably quite a big deal. Like you, he needs to keep this. He needs to keep that mantra going for Blast to be the D Gen. chain, if I'm honest. So I don't know, I think he should act quickly if people are feeling.
I agree with you, they're definitely coming. If anyone read the the Blast vision, I mean he he goes into a small like history of incentives in in the blog and they they pull it back to the Homestead Act of 1862 and incentivized development of the American West and the importance of incentives are ingrown. That is why, yes. It's a good read. It's a quick one.
I also listened to the 45 minute interview that they did with Jen. Shout out to Jen for, for landing that interview, by the way, very like apple esque in how they did it. I like Pac-Man, I think the incentives are coming. I I think it's a harder road
ahead than perhaps it was. And I mean, we, we talked about this briefly in the group chat, but like the Apple markets, the pre market trading like that was the signal the whole time and we were just hyping ourselves up. Like the the new rule of thumb is just it's pre market subtract 30 to 40% and and that's your that should be your expectation for every token. And if you're surprised to the upside, great.
I I I like Pac-Man, but there comes a point where you can pay yourself to developing the the Great American W where I feel like maybe you just check yourself great and I'll do here, dude. You're not developing California at the same time. Like, yeah, I think, I think, I think it's pretty cool. I think that he'll probably do well with it. But you don't need 45 minutes of of. We are, we are, we are explorers. I I want to pulse back to to
Solana a little bit. So I think the other or Solana and meme coins. The other big event today is the the US presidential debates. So this is the first one of three. The next is not till September. So it's after the Democratic National Convention where some, I think that Biden is, is going to be replaced. We'll put that aside. Nate Silva released his first cut of the election model. He's got Trump as a 66% favorite. Yeah, so.
We'll we'll see if the odds change, but I mean the action for those who are in the mean corn streets in the trenches like there, there's going to be big action on pumped up fun tonight. Are are you staying up? Are are you going to be turn debates? I know you're going to bed pretty late, so yeah, I'll I'll definitely watch it. I know Sims, our producer is big on pumped up fun. He'll be in the streets. I think there's going to be a ton.
I think the interesting ones here, like going into this debate is really the VP choice, right? We've seen some movement in some of those that that one we mentioned before that Doug Burgum coin. There's been a lot of bets that like Vivek, it could be a last minute VP and there's like two or three others. And, and Trump has said that the VP, it's going to be at the debate. So every single potential VP is actually flown in. So I don't know if that's going
to be announced. I don't know if I'd play Trump versus Bowden on this. I feel like that's too obvious. And people are, people have probably been buying into it or with the assumptions. I, I, I honestly think that's more of a chance that you'll get exit liquidity on, on that night. So the ones that I'm really looking at is, is really just the maybe what they say live, maybe that goes viral, but that's probably a sub 5 million coin. And then it would be, yeah, the
VP choice. I think those would be the ones I'd be looking at. Yeah, I know the VOC had a had quite the run yesterday. I I've got friends who were who were betting on him at 100 to one. I think his his odds shot up like 10% on Poly market. Bergam is still by folks aren't following the stream so Bergam is the clear front runner. At least with Poly market he's
at 40% chance to win. I think the other challenge in all this and why meme coins aren't exactly prediction markets, they're more like pseudo markets is like there's a chance these all just go to 0 after the announcement. It's like even if Bergam wins, like it's stuck in crash because there's not any events left after this.
Yeah, I agree with that. So, so maybe maybe the best way to play this is on Polymarket rather than on rather than on Meme codes like these could all just go to zero as well. I do think that unlike this Bergam guy, when you read into him, he feels like the sort of guy that could be elected if Trump was to drop out. Like how was Trump going to be next? Next election, if he wins it, he'll be 83, maybe 80 is what I'm. Asking. Yeah, I think that sounds right.
Near the end perhaps? So you got to assume that he probably doesn't run again. So then then I think it would be there's a decent chance that the VP becomes the the top choice. So like maybe people feel like he's an OK midterm hold whoever the VP is this time. Yeah, yeah. So there's, there's definitely some, there's more runway on the potential VP. They're going to be on the stage
here for a while. It's going to be like today is going to be a big one for these the Poly 5 prediction markets. I mean, you have to assume all the candidates who lose just go to 0. So, so those are much bigger gambles. You got to have the quick trigger. I think you're right on the Poly market, but it's like if you really want to throw capital at this and you think you've got the read, I think just the the more secure locking in your upside.
I mean, so you're going to get 150% on a Burgum bet. Let's see that you bet 10K. Oh shit, so you bet 10K already. It brings you up to $0.68. So not not as good of a upside on that one. Let's see what the look of mine is. If Biden does terribly, I think the best bet is also just like by the Michelle Obama coin, right? Because there's a chance there will be more talk about him dropping out if it doesn't go
well. So like, if Trump really wins this, this debate, then I don't know if I'd buy any Trump coin. I think I'd buy and Michelle Obama coin or I'd buy that. I'd buy, I'd buy that in polymarket because it just feels like that's, that's a better chance than being like somebody looking for exit liquidity. I, I don't know. I've I've seen I've saw today that they've they've like changed the mics, right? With like flashing green lights when your mic is on or something similar.
There's no Trump interruptions this time. Like I've seen the CNN, they did like a showing of how it's going to be. It's very much one person speaks and then the other person speaks, which probably plays into, well, I, I guess the debates last time, a lot of people said that they were just kind of bit pointless because it was just shouting matches. But I think it definitely doesn't play into Trump's hands, let's put it that way. It doesn't. It's interesting.
I think there's, there's even you can bet on the odds of who's going to win the debate. So like you can bet the CNN like CN NS got Biden at like 65% favorite to win. But it's based on CNN result polls. So I imagine like the Fox News polls is probably going to be equally slanted to, to Trump. I think Bowden Bowden is in trouble here. I really still think it is like I, I, I've heard people say like, oh, what if Trump says it
during the debate? That that feels so outlandish to me that he's going to name drop the Bowden. I would 0% chance on him naming Bowden during this debate. He hasn't even said it before that people just won't understand what that what it's about. I mean, if he does poorly that that that means he's he's more likely to be out of the election, which I think is also a negative to to the token. So I I don't know. I'm I'm not feeling great about that one.
If I had to no, I feel like waiting for any like outlandish or memorable events is probably a hot play. I like to be bitcoins with you as well. We, we, we will certainly we'll certainly see we kind of we kind of dovetail off of your market report and was there anything else we got the US government selling Bitcoin now they. They came in to sell about 240 million and they have, you know,
multiple billions. So I think, I don't think they're going to sell all this, but like all the multiple billions. But it was interesting to see that they did that. And then that's just been the overhang. That's why Bitcoin's been slightly underperforming performance because this has been, there's just been a decent amount of supply potentially.
I in terms of anything macro, there wasn't, there wasn't really a lot like we, we saw a slight slowdown in new home sales, which people got felt like the Fed's probably going to have to start cutting rates even quicker. And people are getting a little bit more bullish on that, on that sort of concept. So yeah, that's, that's been about it. Gold, like I think the NASDAQ is close to all time highs still gold fell a little bit. But yeah, nothing really a macro to throw us off.
And then it's really just like the other thing. You, I don't know if you mentioned it, but the Coinbase is suing the SEC, which is, which is relatively interesting that that had come out just before the Solana headline, is that they're suing them over the Freedom of Information Act requests. So they've obviously been asking for a ton of different information from Coinbase about customers and, and operations. And the Coinbase is, is like
fighting back here. So there have been some rumours that Coinbase, the SEC had dropped the case against Coinbase after it dropped the case against consensus. I don't know, but this points to the idea that that they're still actively in war. So. It feels the way. Well, the other interesting aspect of this is the US government used Coinbase to sell their Bitcoin yesterday. As I understand it, it's a. Dumb situation. So dumb. Like why they're not just championing it?
Like Coinbase is clearly trying to be a strong actor. It's trying to be as above board as it can be, and in a world where people have actively been rugged on several different exchanges over the last decade, why not just try and promote one of the good actors rather than like do they really want another FDX on their hands? Like do they want to like Downtrod, Coinbase and push people to other exchanges? It just seems, just seems dumb. Yeah.
I don't know that I understand that the motives other than just pure control, I guess I don't know. So it's been a tough one for me to figure out. I'm hopeful that perhaps with an administration change, which looks to be the odds on favorite outcome here, that that perhaps some of this will go away and change course. And then maybe that'll open the doors for the salon ETF, as you mentioned here at the beginning of the show. I think that's mostly it for for the macro news.
I think for for those who are still in the NFT market, a little bit of of welcome green on on the board, which I thought was notable. Volumes are down tremendously. So only three collections did over 100 ETH volume on Blair in the past 24 hours. If if folks remember back in the peak farming heyday, you know, it was 3004 thousand ETH being slung around per day. But what's been somewhat nice is it feels like we're starting to see a little bit of recovering.
Granted, last week was somewhat of a crash, but a lot of collections up five to to 15%. I don't think we're going to necessarily just like rock it up from here, but it feels like perhaps we could maybe grind up a a little bit slowly here. If if macro cooperates, if crypto doesn't just totally shit the bed, we're going to know what these teams are doing. I love this man like well as soon as I saw this and I saw the slowdown in volumes and prices going up and order books looking
thinner on both sides. This is why you should own NFTSNFTS are not shit coins, they're not fungible. They should be tied more to identity, to the idea of a collectible. And I I just think that this was really bullish. I even said to OSF, like, should we buy some NFCS here? Like it feels like the sort of time to be buying some NFTS And we, we're like, we were, we were talking about that this morning. This is the most, most bullish I've I've felt about NFTS in a while.
I, I, I do this, I saw stats said that some of the blower farmers are still going to be there. And it's kind of that's a little bit frustrating. But yeah, I definitely, I definitely think lower volume will equal higher prices. I know that sounds silly, but like they will I I reckon that that's what will happen. I, I tend to agree. It feels like somewhat of us to reset and it's not going to be a total reset. It's going to take time. Yeah, the farmers are not
totally gone. There are still blur incentives. There is a blur season four, but the, how I wrote the tea leaves yesterday is all the farmers were just incredibly disappointed in the rewards. The rewards are the lowest they've ever been. So like there are incentives, but they're just not that strong. And it does seem like the biggest ones have closed up shop, so we'll see if CBB steps back in. I've been thinking about buying as well.
I actually bought a few Solana entities yesterday though. Now the question is, if Soul rips into this ETF news, is that going to temporarily hurt hurt prices and sold terms? We'll have to have to watch that. But with the the blast, there's huge opportunity cost of buying entities. With this blast farming going on, that's going to slow down. So that opportunity cost is
removed. You still got the meme coins as the primary alternative, but I don't know it it's opening up for NFTS here, but so so we'll certainly see. Yeah, I like, I like some of the major collections, if I'm honest. I think I think they're in they're they're down enough. I think they can rally. I think Pudgy's is is one that stands out. Punks obviously is down. What apes Milady's like red
guys. You can get into a bunch of collections which have been active throughout the bear market and I think there's a there's a chance you see some big rallies. Yeah, punk's back to 27, so they're up a solid 20% off the bottom. I think they hit 23, Yeah. So we will, certainly. See, I wouldn't say punks is my number one buy just because it wasn't as farmed as the others. I feel like I feel like the ones that were massively farmed are the ones that I would I would
look tend. To agree, we need to look at the supply to see if they've actually been exited or not. Yeah, that's the other thing. Yeah, there's going to be some, some, some farmers that need to exit, isn't it? That's the round up and then it Tees the other slap meme coin news we haven't talked about is this this duck the epic converter? It's going viral here this morning. Wizard of so host tweeting this out like Jing Tao is is tweeting this out.
We've got the the tailwinds here with the the Solana ETF applications. Yeah. Should we explain what this thing is to folks if they're not familiar? Yeah, So it was something that one of our community members mentioned and it's taken us a while to build, but basically you connect your wallet and a bunch of people obviously during the meme coin streets either get sent air drops because they own a different token or they probably just have some old air drops that they don't want.
So you can, you can connect with your wallet and it then brings up all the different the coins in your in your in your wallet if you Scroll down and then you can click all the different coins and it will convert all, all of them basically to epic. So this is particularly useful for like if you just want to clean up your risk, you, you have a bunch of coins which you don't really want to look at anymore, but you'd rather if you just click on all of click on LFG on on.
Yeah, you want to keep W in LFG and that will just convert them if you hit the convert button and it will convert them via Jupiter. So this is actually a Jupiter swap. So like in terms of this isn't some native decks which someone can hack, but this is this is this is basically just calling a dupus contract and converting everything to epic. The we spoke. This has also been checked by phantom and blowfish. So you don't get any warning signs around it.
If you connect with your phantom wallet, which I think the vast priority of people will, and this will mainly only work for coins with LP's. If it doesn't, then it will still, it might show you that it won't, the transaction won't go through, but it will basically go through for everything that has an LP. So if you have like 10 different
tickets, you can go through. So if you just have micro transactions in your wallet, which most people do like you, if you just load this up, you'll realise you have a few different coins here that you didn't know you have because there's so many different air drops and it just allows you to clean up. So firstly you get to keep the upside. Epic Epic's a coin at what 15,000,000? So it's a coin that you know probably has the upside like several of these other smaller low cap coins.
It's a, it's a tax loss harvest. So you can, you can tax loss harvest anything that you owned that obviously is down potentially and it can clean it all up in one transaction. So you basically simplify all your risk. So you can see we've had like 1269 buyers, but yesterday it was around 2000 buyers. So we're basically seeing is a ton of very, very small transactions coming in and buying Epic. Our number of holders is up about 300 in the last two days, which is decent.
And then a bunch of bigger traders in the space have been like, well, this is great. You know, I can, I can clean up all the things that get sent me or, you know, if you're a pump active on pump dot fun, we can't connect it directly to Photon. So you have to you have to take the private key of your photon wallet and and then you can migrate it to to your phantom wallet and then you'll be able to do anything that you can do
on photons. So if you're an active photon trader, that's probably the easiest way to do it. But yeah, it's just a very simple tool. And at this stage in the market, I think everyone's probably been meme coining for six months on pumped up fun and now you can just clean it all up and you have a coin which which hopefully has a bunch of upsides. So. Love it the the dev.
The dev is is shipping here and I had no idea how many of these dust tokens I had in some of my wallets till I loaded this thing up. Like, yeah, I think I've got like legit like 30 to 50, right? Exactly trading wallets. And why not just convert them to a token that you might have a more conviction in like the like your epic duck. So a lot of these are like $1.00 transactions.
Like it's not, it's not a huge amount, but it, you know, it, it's nice sometimes just to clean that all up and maybe you have 5050 bucks of Epic at the end of it. That's, that's a simple thing to manage. So, and I think if we're just going to keep on promoting this regularly. So for me, I think this is a bit of a game Ginger for us because, yeah, we, we've obviously been in the meme coin streets like all these other coins.
But now if you have a just like a product which people can use and you're gaining 100A-150 holders a day and huge number of buys versus number of cells, I think this is the sort of thing that in one day might not be a huge mover, but over, you know, weeks can be a big thing. And this isn't, you know, this is, isn't the main thing of what we've been doing. We obviously post content all the time, but this is just the sort of tool that I think people can come back to quickly.
And if they like the meme itself or they like the community XYZ then then it's a simple thing to do. Yeah, it's going to be consistent, steady user growth. Again, I agree. Like not not parabolic up, but slow over time. And why not? Why not? You basically get free duck coins, free epic just for converting your stuff to this effectively worthless. So. So check it out if you haven't already, folks. It's at epicconverter.com. I think that rounds out most of
the topics I had on my list. So we had a few other headlines. So Marat Park returned after two years to complete his censored collection. I guess like what what jumped out to me the most on this one as I was wearing it up this morning is I just forgot how wild some of the sales in 2022 were. He he had so this for this
Assange collab. So he teamed up with Assange in February 2022 to launch a. Two-part collection a a one of one NFT called clock that had a timer of Assange's days behind bars and then an open edition called censored. The one-on-one clock sold for 16,593. It was $52,000,000 to the Assange Dow. And then this open edition, I, I don't know what the open edition minted for, but 30,000 were minted and that's the one that
was updated here today. Pack Pack pulled away with with over $100 million out of all of this. He obviously had the lost poets was it and Mass, I forget what the name the whole name of that collection was, but yeah, that and then he had the the I think obviously these funds were gone, went to the Assange Foundation so or whatever Dow So like they've been used to help pay his legal fees.
I think there's, there's actually been a bit of an inquiry into what she was done with those funds now that he's been released. But yeah, he's he's, he's done well for himself. He certainly has better than his censored NFT holders had saw the forwards at like point OO1 either as as well as most of of the rest. So when you when you saw the replies to anyone who was talking about this yesterday, it was just wanted with like POC as a scammer, a grifter. What's he what's he scamming
these days? So I'm, I'm not sure if we'll see another launch, but he did. I mean, he came back, he fulfilled the the rest of this project. So if you, if you meant it sensor, go go refresh your, your metadata. You you've got you've got an updated NFT on your hands. The thing is, I actually liked his projects. Like I always felt that he was a
bit of a performance artist. Like he always had something cool he was trying to do. Sometimes the performances failed, but I did think he knew how to do Web Three well in that I don't want to like disparage other artist, but it was like it's similar, I would say to even OSF how he does some of his pieces or how Jack Butcher's done some of his pieces.
He knows that a lot of this is about the event of the mint and the experience, but he just made way too much money in the process and probably just oversold, oversold what he sold. But I always felt like he he actually was pretty good. I I thought some of his concepts were quite cool. Yeah, he, he was early. He he had the, the whale collectors with them and aligned from the beginning. I'm just scrolling through some of this one O 1 pieces.
I mean, these, they all sold for like 30 to 80 ETH, which granted, at the time I think he was minting these ETH was significantly cheaper, but but now everyone was anchored in those terms and was able to effectively keep those prices up. And then it was the larger addition. I think Merge is what really set people off 'cause I think he, he, I forget the term, how much he raised on Merge, but it was a lot. And then there wasn't a whole lot you can do with it.
So I think folks got a little upset. I think that was the last one he did. I don't recall exactly, but yeah. Maybe the final, final one that was like AI think like a kick in the teeth at the end. But I like I first knew about pack when I first came into the space for January 2021 and I remember his one of one pieces. I actually felt like he was the sort of person that could bridge traditional art and and NFT art because he was the sort of person that you can imagine in
the gallery really liking. Like his concepts were interesting and his pieces were thoughtful. I always felt, or at least thought provoke provoking. So, yeah, it's, it's it's a shame in that, you know, he's not, he doesn't really do anything in this space anymore. But obviously he just, he just made way too much money and the performance has never really hit. I think what people were hoping that then too.
I think that summarizes it. The only other headline was from NBA Top Shot. Did you did you ever do any of the Top Shot action when it was hot? No, no. Yeah, no, I did. I never did a lot. Most people when I came in, came in through Topshop. I came in through super rare. So no. Got it. Yeah, it was a huge onboarding arm to just broader entities
into Ethereum entities. The the headline here is we've known there was this lawsuit and settlement of basically confirming that moments were securities. It was tied to how the flow token was held. Dapp Dapper has settled. They're, they're still working through the terms. There's talks that users who held moments during this time period are going to get $0.12 per moment. But the, the bigger headline is some users are fighting back and saying do not accept this settlement. We want more.
So there's a CTO actually complex against the settlement right now. They're saying don't sign the forms. We want more for our moments. It's probably not going to be a huge windfall for most, but I saw like Andy 8O52 tweeting out that he had 10,000 moments. So if that number goes up, it might actually be a windfall for for some folks. So, so look out for that CTO. But I think that's it that that's a rundown of the headlines end up being a busier morning than we thought.
We'll see what happens today. We'll see if there's any more Solana fireworks. We've got the debates tonight. I'm sure we'll be recapping some of that action tomorrow. Baroque is back with us tomorrow, I believe, so we'll hear about his vacation. But folks, enjoy your Thursday, Have a good one, enjoy the day and we will talk to you tomorrow.