Oh yo-yo yo what up what up this morning this morning GMG Monday August 12th 2020 look at that another beautiful day to have a beautiful day. I got my Co host in the house. Mando how you guys doing today? Busy man, how are you? Crazy as fuck. We love it. You know, people are coming back from vacation now. So you know, foremost stop ringing it's in in a good way, busy, busy, you know, market market conditions.
Let me tell you all in the people who are listening market conditions definitely don't don't reflect the back and busyness of of our industry. It's it is busy. Tyler, how you doing? I'm good. It's a beautiful summer weekend here in Chicago. Weather's just been perfect and I'm kind of with you. I feel like summer is almost over. Kind of ready for it, ready to get into fall, but we still. Over the whole thing now. So I'm fucking over summer. Bring on Christmas. I'm done.
Like, you know what I mean? Like there's a point for me. It's like summer, yeah, I enjoy. Then it was my birthday. It's really where like, I feel we like, it's around Labor Day weekends. It's when people really get back mentally to work, I feel. And that's all right. Take me to Christmas. I'm done. Like, fuck it. Like, I, you know, it's over. Yeah, I, I was talking to my girlfriend this week. I was like, not even an inch of vacation. Nothing. No relaxing.
Absolutely 0 until Christmas. You know, you know, shit's about to start booming. And so and so and so we're ready In major, major unrelated news to crypto this week, this weekend, I have acquired a new keyboard. I, I have made the acquisition of, of a brand new keyboard. So I now thank you, Sims. I see you clapping in the studio. I now do have ASDF and the spacebar again, so I can tweet D guards next time Frank is on. You know, we're good. You know, I, I still have this
one. Maybe at some point I, I, you know, Rage Against the market and just like break it on timeline for content. I don't know, but we'll keep it here. It's definitely broken. So we'll also be giving it to somebody anyway. So, yeah, weekend was great, lots of lots of beautiful weather on the East Coast. That is for freaking sure. Anyways, the day on the show today, today, market report as usual. Let's see what's going on with
this market. I mean, I woke up this morning, thinks it was OK and things are not OK anymore. You know, typical summer chop. You actually love to see it. You know who sold? Let's find out on the next episode of FOMO hour. Tyler's top 100. I'm sure he's got a lot to talk to us about. Like we said, things are starting to rally again. So in terms of yes, I know Logan fiance, fuck, fuck the I I the F word. It doesn't work in my head. The whole fiance word. I said girlfriend again.
You guys catch me slacking on the show every time. Just keep reminding me, OK? Keep. I see you, Jen, listening to the show. Come on, Jen. You couldn't fucking keep me on checking the team chat. Come on, Bernie Cheese, half the rugged team listening this show not keeping me on check. Let's go anyways, Tyler's top 100 as well. After that, see what he's got in in store for us. And then last but not least, it's Monday. So Arbitrum update. You know, we're partnered with
Arbitrum now. So every Monday we'll give you guys ecosystem updates on what's happening on the on the chain. And there's been a lot actually we organically talked about like 5 things last week because that back-to-back news. So we'll just, you know, kind of run them together and get into that. But anyways, anyways, anyways, today's Monday. We have limited time with the Great Mando, so let's get right into that. GM shirt on boys market is a little bit lower.
We've kind of stuck around that 60K level. We we were just above it or around that level just before stock futures opened and then we kind of dumped as soon as stocks went live. That also coincided with the dumping in major like in stock, stock indices of the NASDAQ was
indicated higher, now lower. So we kind of just tracked macro with that sell off ETH has been slightly outperforming over the last few sessions, definitely a bit of a reversal in the sole ETH move and even in Seoul, sorry, in ETTC. So last week was the first week that we saw inflows into the ETTF weekly impose that is. So maybe we see a little bit reversal on that sort of trend at the moment. Other than that, you know, doesn't really feel like it was a busy weekend in terms of volumes.
Some of the lowest volumes I've seen on a pert basis and most pumped up fun coins and meme coins were at very, very low volume. So yeah, definitely felt like a quiet weekend. We slightly retraced from where we were Friday, but nothing really to not really a nuke. I think there was some expectation that we could see a flare up again with the Iran, Israel thing. Is it unclear whether that's coming or not?
I saw yesterday that maybe it's been delayed by two weeks, but then you saw statements by UK, France and Germany today and and the US sending another battleship out there. So who knows? That could kick off at any moment. But for now, it feels as though at least it wasn't on a weekend. So crypto didn't absolutely get naked during that period. In terms of what we've got this
week, it's quite a busy week. For macro, we have CPI, we have PPI, so consumer price inflation, reduced price inflation in the US you'll have retail sales and we have, I think we have that for the UK as well. We have, we have inflation data in the UK. So I think some market moving stuff, the CPI one in particular will be will be heavily looked at. So expect some volatility around that just in terms of the the
speed of rate hikes. The rest of macros kind of settled down a bit like the the yen, like Japanese stocks bounce a little bit today. Like we haven't really seen a follow through in that unwind of of the trade. In fact, the yen has been slightly dipping over the last couple of sessions. So yeah, that's kind of slightly on pause. It feels like the number one thing will return to being whether we're going to have a soft landing and or whether we're going to see a flare up on
the international stage. So that's the stuff that people are worried about. In terms of crypto specifically, I said ETH had been outperforming. The real outperforming L ones has actually been suey, strangely. Suey. Yeah, Suey has been slightly outperforming all the other L ones. This is a chain which is at around 8 billion FTB, just some more positive center around it. As we spoke, we spoke about this last week even, right?
Like it's a bit more of AB2B style chain and but definitely been the strongest bounce from the L1 lows, which we're kind of across the board. And it's one of the few L ones that's now up this this year, along with like ton and soul. I don't know if this has a massive follow through. I'm always wary of buying these a child like that. But yeah, it's it's definitely gotten people's attention.
I think even Raoul Pal put out, but a tweet today just pointing out it's our performance versus Solana over the last short period. So yeah, that was the only thing on majors. We've had some interesting, there's been some light FUD around wrapped BTC, which I think is probably worth paying attention to. So wrapped BCCS is Bitcoin which is on ETH and bit Go was the custodian. They're now moving that the custody offshore, as in outside the the US, and it's going under
the custody of Justin's son. Wait, yeah, please. Please repeat that sentence. So wrapped Bitcoin that we see on EVE, you know, is used a lot is the custodian. There was was bit go. They are in order to strengthen their their custody, they're moving their custody to Asia and split it between geographies. One of the main custodian partners there is Justin Sun and the Tron network. Now there's been a lot of fun around this in the Deepak
community. Like for example, rap Bitcoin makes up about 10% of the collateral that is used to flatulize dye the stable coin made by maker maker have said publicly they're probably going to move away from wrap Bitcoin on the back of this and several other key defy protocols on ETH are also sounding the alarm being like we do not want this guy involved. This seems far more risky to have him as a custodian. There could be. I mean, they own a lot of Bitcoin.
They own a lot of Bitcoin. I'm not saying that Bitcoin won't be will be wrapped in a different way and we have a different custodian, but it's something to pay attention to that we could see some quite large changes to to D5 protocols if that stays the same. And we could see some people like question, I guess the future of rap BTC in that that's that was kind of the main piece of like D5 for today alongside alongside the suey stuff, which seems to be bouncing back.
And then the only other thing I I thought was relevant that I saw today was some of the stuff that happened over the weekend, which has been the backlash against the CFT CS potential ruling against prediction market. So it looks like the CFT CS is maybe moving slightly more aggressively in terms of their preliminary rules against prediction markets. Now prediction markets has been one of the major, major gains of this cycle.
It seemingly they've come down and proposed rules that the cast rising ban contracts related to gaming and elections. Now a number of different people have have in the crypto arena have have kind of clap back and said this is too broad, particularly on the gaming like that could mean a lot of different things. And then for elections, obviously we're all pretty keen to continue to have like political events have this sort of level of truth to them.
So it's just been interesting to see that like now the buck is passed from the SCC, maybe just CFTC, we may similarly get a heavy-handed approach here, which limits cryptos, cryptos applications. It would be a real kick in the teeth if this was to come and curtail prediction market. I feel like this is probably preliminary. We haven't seen, in fact, the way that Dragonfly have clap back, which is one of the the the the B CS biggest BCS in
crypto. They said that that the Chevron deference ruling, which happened about two months ago, limits the ability of the CFTC to do anything. So there could be a question about they can whether they can do even do anything here. But just know that there could be a battle here about about the future of prediction markets, and I think it's worth paying attention to. 100% You know what's funny? It's Speaking of which is how Tyler pissed off a lot of people on the timeline this weekend.
What's? He been doing he he so basically when when when Trump is had 72% to win on Poly market prediction markets are the source of truth. And then when Trump is getting his ass handed to him by Kamala Harris on on the prediction markets, which he is right now 46% now from 72 British markets are not the source of truth anymore in the Kamala camp. Super super PACs are controlling the markets and putting her head in order to change the public perception of the 5000 people on
CT that are huge voters. You know, probably half of which not even fucking American citizens. The other half, probably not of which to vote, You know, they, they're, they're, they're the ones, you know, skewing the votes, right, Tyler? Is that what's going on? Yeah, that's it. I mean, it was some pretty wild theories going around the weekend. And I mean, listen, like, is that possible? Like could that possibly be happening that PACs are betting on comma? Like, maybe.
But to me, it was just more interesting to see like the narrative shift from when my guy's ahead, this is a truth telling machine to when my guy is behind. Now it's a rigged market and it's the Super PACs bang it up. So it's one way or the other. Oh my God. It's going to be an interesting one to keep tracking. I mean, it's still a coin flip. That's the thing. 5246. I mean, I think maybe because his lead has evaporated so much,
that's why the reaction. But I mean, it's still like it is a true coin flip and he's very in the race. I mean, tonight is a big night, I think. 8:00 PM right combo. 8:00 PM Eastern. There's a great line on. We might as well pull the line up now. I think this is the most interesting bet on Polymarket today. This is more for the gamble
today. Let's see what you got today, Tyler. So this is this is for the gamblers out there, there, there's there's not really any edge to be had in this in this market, but it's what will Trump say during the Eli interview? I I think you can see it. There it is. OK, what do we got? MAGA crypto, I mean 60% chance of saying crypto, it's a nice bet, but you probably can you size in with that. Yeah, let's see here, dude. Oh, yeah, there's a lot rather on Yes, there's a lot. Hold on.
I'm on the, I'm on the Full disclosure. One second, you're telling me that there's a 60% chance it's a 60% return if he says the word crypto in the Elon interview? Correct. Yeah, if if Trump says the word crypto, you, you cash that bet if you're on, yes. Why would you? Why are you on the no side? I'm curious about that. I don't think Elon cares about crypto that much. And I think I do think Polymarket skews to a crypto audience. I think the line's a little too high.
I mean, a lot of Trump's speeches, he doesn't cover crypto, right? I think there's also a chance that he says big point but doesn't say crypto like he he could bring up Bitcoin and Bitcoin mining and you still lose this this bet Interesting. I mean, I'm on the nose side. I don't feel great about it. Why is the word temp on it there? Because Tampon Tim that one of the things that they've been ragging Tim Waltz on is that he gave access to feminine products in both bathrooms.
I, I would bet yes on all of these. And then just you know what I mean. Real weird trans is probably a good bet just because that seems to be what Elon's very obsessed. With there's ten of these, what if I put $1000 on every single one of them and see what hits? That's that's one strategy. The word Tesla 66% Are you fucking kidding me? Is this real? I mean we should stop talking about on the show. I don't want people to take my lines here, but. Yeah, I mean, you need Trump to say it.
Yeah, I know, but interesting, Interesting and. There's some fun ones on here. It's like if you're going to watch the speech and you like to gamble a little bit, but there's some fun ones. Definitely going to be watching the speech. I find this interesting. That's a good find. That's a good find. You got you got like all these like really good. You know, you got all these really good finds here in the markets. I'm I'm curious to see where that goes. But anyways, I'll, I'll give it
a shot. Maybe I'll, I'll load a, I'll load a wallet up again and try a few of those and see what hits it. It could make this speech more fun. Right At 8:00 PM, you're just like, let's go. Yeah, for sure. Did you see like that there's a pretty interesting sweat over the weekend on the Olympic gold medals? So like, the US was a heavy favorite, and then like, China ended up tying them, but the US won on a tiebreaker. But it was incredibly close. And you know what the tiebreaker
was? It was the Algerian boxer beating the Chinese one for the gold medal. It was and I won them because I bet, I bet. I mean, that was actually one where there was an edge. So sports books had, I mean, Khalifa as a 10 to one favorite and she was going off like a three to one on on Polymarket. So there are that's a spot where there's some absolute EV to to bet. I think there's going to be more
of that in the sports world. Yeah, it's it is going to be interesting like our opportunities for sure for people to kind of play on both sides here. But anyways, all right, so look, market wise, you know, we're looking at what's 59 six on Bitcoin. We got a little bounce across the board here. ETH is nearing 2700 again. So it was about 1:48 and the memes are meme in here, which I'm sure Tyler may have some stuff to talk to us about this today.
So Tyler, let's see what you got for us four daily NFT and crypto analysis. Tyler D. On FOMO. Our cause? The kids can. So crypto majors are rallying again. They rallied this morning, they dipped, Now they are all the way back and ETH is leading the way right around 2675. Sui, as Mando mentioned, jumped 17%, leading all since up 100% on the week. So it is definitely outperforming.
We saw Big Go announce it will transfer controls of its wrapped Bitcoin products to the JV with Bit Global and Justin Sun. Celsius suing Tether now for $2.4 billion worth of Bitcoin, saying they were liquidated without the ability to post collateral. Canto down goes Canto. It did not produce blocks for a full day this weekend due to consensus mechanism issue and then our friends rolled it. They had salon token deposits including Radium with Jupiter Boom and a whole lot more. And memes.
Some pump fun metrics were circulating this weekend. Just 0.12% of tokens launched reached profitability. I guess not a huge surprise, but when you see the numbers on the page, they it does kind of hit you a bit. We saw Jupiter, we thought the Jupiter team was dumping like $26 million worth of meme coins. Though Meow said it wasn't them. It turns out it was a referral wallet, so that was an intro
twist there. We saw the MAGA meme coins surge ahead of this Trump and Elon conversation tonight. MAG up like 48%. Pac-Man has rallied over 3X off its local bottom. Ahead, the burn in conversion to Army. That burn window closes on the 14th folks. So attention, if you've got Pac-Man, make sure you go out and do that burn. Oh, did we lose him? Yeah, I think so. Yeah, there you go. See, it's a super PACs.
They got him. I have to say, Mando, you showed up on the show with a shirt on and Bitcoin bounced $1000. Straight up, I haven't been. I haven't been paying attention as much. Rather look at this, look at this the the candle. This is your shirts candle. This one here. This is literally your this one here. Look at this. Wiz likes to call this a bullish hammer. You know it's his favorite one. This is you coming on the show straight up with a shirt on. Are you back, Tyler?
I'm back. Where did you guys lose me? I got to get the Wi-Fi consultant out this week. I'm in a restaurant. We used to dog on Mando on the show with Ovie and now here we can I we we lost you after the pump fun metrics. You cannot like talked about this. Then you said Suey. They said like the way you were. You were towards the end of your your spiel here. OK yes we saw the maggot coins pump pack moon. If you missed that, the pack moon burn window ends on August 14th.
That tokens up 3X off the bottom. No way. No. Fuck me, dude. There he is. Oh, there, he's gone. He was funny to me. Like he lives in the city that's supposed to have good Internet and I know he pays this motherfucker probably pays premium prices for his Internet too. I I know he does. He probably has a Verizon super turbocharge or whatever they have over there. You know, I have everything oversized in America. Every time he says pack moon. What what is Bobby big yields
doing? Bobby pack moon team is Lambolan and Bobby big yields trying to silence us. Don't see the P word? All right, we won't say it. The burn window is coming up and you don't want to miss it, so I'll, I'll just leave it there. It's up 3X off the bottom by this listing, Nero, we saw RSIC jump 35% over on Bitcoin. The runes are up as well. And then the doodles they premiered, they're not in the store video and that collab with Adidas on Friday as well. So that was the roundup.
Saw that, saw that, saw that. I mean, where to even start here? Let's start with the pump phone numbers. I mean, you know, I'm, I'm I'm sensing, I'm sensing the same vibe as like when people are saying blur killed on FT ES with NFTS were kind of killing themselves in a way, you know, they just made maybe accelerated the process. Well, how do we feel about about that statement? People are saying pump phone
kill meme coins. I mean, I, I, I don't think this is the case for us with putting it out there. But Tyler, you got the stat up. What? What do you think? Yeah, I don't think it's, it's killed it, but I do feel like the market is a little bit saturated. I, I tweeted this last week. I think it's harder and harder to play these new coins unless you were just like glued to your screen and you have very tight
entries and, and targets. And I mean like, why when you see these numbers, it's like, why, why, why play on pumped up fun. I guess 9.1% are are launching and being profitable. It's like why not just wait I guess and see what gets off there and starts to catch at least some attention. I don't know, I never really was a grinder in the pumped up fund trenches and you know, maybe
that's the game. I remember I actually interviewed the founder and he said they don't want tokens leaving pumped up on and they're actually happy with him just staying on the bonding curve so that that model is still very alive. But it feels like it's much more like the pros and bothers and experts like it's, it's their game right now. And I feel like as a casual meme coin trader, it, it feels tough. Feels tough, Dan. Yeah, yeah, I don't have a strong stance on that.
Yeah, I I definitely don't have time to be in the puff on trenches, sadly, but I, I, I also I'm the type that waits for a token to have some, some lags before buying in bigger. And what do you think about that Mendo? The the amount of coins I made? Are we surprised? Like it's free to create coins. I think, I think the changes will automatically lead to that. Yeah, I think these aren't good
figures. And I think we've already, we've already spoken about this like it does kind of feel I think Arctic shared a good, good stat and yesterday which was there is no pump dot fun coin above 80 million now. What even me chain stuff? Yeah, Salana feels very PvP at the moment. You know, pumps are getting sold. It is. There's a lot of coins, just like hanging out. It's, it's just pretty dangerous at the moment. So I think everyone's, everyone who's been in Salon that this
isn't really a surprise. Like it kind of feels like it's been going like this for a while. And I think Pumped Up Fun has made a lot of money in this pro process. I do think there were when you're making 16,000 coins a day, it's just very easy to fucking move on to the next coin. Like we've already spoken about this and it, it does feel right now that it's PvP and we're kind of, we're going on the loop slightly lower each time is what Tyler said.
And I kind of really, that really stayed with me. That's what's been happening. Like we are, we're just kind of like slowly going lower until we start to see more funds come into the ecosystem. I'm not saying this is the end of mean points, but it does feel right now not a lot of not a lot of values being created in meme coins. And that's kind of an objective statement rather than a
subjective statement. Well I agree I think the the RTR fall out right like some people who got rent on RTR that. One is still tired. I mean basically. Close the wall. Like I need to take a break. Like I didn't lose the time. But like, events like that, it's like, OK, I'm going to, you know, walk away from the screens. By the reset, $1,000,000 were white from the trenches or not the we'll call it what you want.
I don't care if trenches, not trenches that I mean, did we have any updates from that over the weekend Like this? It's getting pretty, it's getting pretty nasty. Like we, I, it's funny, someone said I think it was he was like, damn, last week was crazy. Like yesterday I was like, brother, that was two days ago. The RTR thing. I can't believe I wrecked so hard last week. I was like, brother, it was like 48 hours ago. Was there any fallout from that further than that?
I saw some people go a little crazy on the timeline. Much at all I saw Donald Trump junior was on the spaces with a different meme coin. He was on the spaces without the mega A. That's the. One, we talked about that, that they, he, he's endorsed that before. And it's not like the token's been pumping, you know? So they're they're the the turn brothers are still deep in the crypto streets, just not with the RTR. I do want to share this though,
because you talked about this. Tyler, I'm making this from your page. It was an article from Blockworks Trump hailed as a pro crypto candidate. Meanwhile, meanwhile, all three of his sons are involved in mean con scandals. But that's that's from Tyler. But block works for an article web three watch All three of Trump's sons have not been caught up in mean con drama. It's it is. I mean, it's a problem. I think that the the base is going to look past it.
But like, like the the big knock on the Dems for crypto is actions speak louder than words. Like you can say you're coming to the table, but like, here's our list of demands that we want you to do. And the the Trump campaign has given great lip service to crypto, But meanwhile his sons are launching meme coins or like they're getting caught up in all these. And I don't think it's a great
look. And, and I think if it keeps happening at some point, like it does distract from like their their broader policy, which does seem to be pretty positive. I. Mean you'd figure that like Trump's advisors would tell the kids to sit the fuck down. No, yeah, I don't know. I don't know, maybe the the people helping him get to bitcoins conference or whatever. The people around him, I don't know, you know, where's Ryan
Salkis when you need him? You know, maybe maybe tell your boy like you know, to tell his children to take a little break from crypto. They they need a mental health break. The kids think if anything, if if they could go mental health, it would be great for his base. All right, well, Tyler, what else? What else you got for us? I mean, let's talk about RSIC for a quick second because that we talked about the tweet, you know, last week, but looks like it's another leg up again.
What's the TLDR here? What's going on there? It's good. Yeah, well, the team finally broke their silence. Basically, they were just incredibly quiet. There was concerns. It was just a slow rug and I shared those concerns myself. But now that they've been coming out, they've been making
statements again. They promised that season 2 is coming up. So, you know, season one is when we where we mined all of the initial runes, which would become the, the, the rune coin, which was, I mean, it was a big air drop. I mean, this, this thing traded over $200 million for a few weeks, hit 300 million at peak and the NFTS were up over I think they're like .14 point 16 Bitcoin at peak all the way down below point O1. The NFTS are rallying now because of season 2.
The miners are going to get turned back on and then the tokens been rallying as well. The tokens up over 100% off the bottom. Still just 66 million, you know, down about 70% from all time high, but down 70% is better than down 90%. And there's just some positive momentum for the for the first time now. I I still think they've got a lot to prove. Like when I when I laid out the the bull and bear case for RSIC before runes launched, I said we we need to know what this
project is at some point. Like you can't just continue mining, you know, new tokens that we don't know what the tokens are forever. And unfortunately they haven't really told us what the projects are. It's like the NFTS have rarity like you mind different amounts of runes because of the NFTS you have. We still really know like what that what they all are. They promised a game. They haven't really told us what the game is. Oh God, this is. This is every day bro. Like how?
Like like I'm going to print this. OK, well this is the salon chart so that the Bitcoin chart looks a little better the the pups token on salon liquidity because they they went through that the conversion. Chart on OK X. Go to Magic Eden. Because I usually watch them here right on OK X you have the web or? OK, X probably works. Yeah, let's go to Pups. It had a nice like it has good charts for for ruins. If you go here daily, then you
expand here I mean. It's a little bit of a rebound, but yeah, I mean, clearly it's trending in in One Direction. You didn't. Know how good we had it? Every day I look at this coin, it's just down more like it's just. I just won't stop going. It's like there's a magnet zero. And it's when do we rip the Band-Aid off? I refuse. I refuse to rip this Band-Aid off. Yeah, I was the end of it. At this point I'm probably like if you think of any of the rooms, make it.
I don't know. This is probably coping. Same thesis as he was like, this is like what we're going to sell for five, 10K? There's like a quarter million dollar bag at some point. Thankfully I did not pay for mine so it was like an air job, but still a big fumble, you know, So I'm even Bitcoin now. Look at this candle bro. Since Mando put his shirt on, $3000 candle on Bitcoin. Excuse my language, but wow, I'm just ripping.
This is literally, I mean hey Sims, I know you guys made a clip about Mandel's shirt but now you should make a follow up clip on this. This is the three. This is $3000 candle on Mandel wearing a shirt on the show. Holy moly bro. The shirt hammer candle. Look at this Mandel 3K candle on you appearing on the show with the shirt on. We lost Mandel because he's hosting this Monday thing, but $3000 candle on this fucking
shirt? Dude, he absolutely loves to see that all right, well, what else we got? I mean we still got some time before we get to arbitrum roundup. Is there is there anything I is there anything you want to? I have to say like I I I like what D, but I know I mentioned it because he was on Friday, but I like what Frank is doing with his D God stuff. I found myself browsing D gods again on the on on this weekend. I didn't buy any yet. I ended up buying more more shit
coins. I have one coin that I really like right now, so I've been just buying it. But, but technically speaking, it is big enough for me to be able to talk about it. But I, I know at some point I'm going to sell something if it goes up and I don't want to hear it. So but, but I, I think I kind of like the approach of turning diagon's into shit coin, not turning into shit coin, you know what I mean?
But like, you know. I I was a little too early, so I've been I've been wanting to get on Diagon's. I bought one at like 40. Solana. And they bridged back to Solana, yes. And then they ripped to like 60, but then they just went down only and Frank kept saying like let him go lower, let him go lower. And I didn't really see his plan. So like I actually I, I exited. I don't know if it was a plan from the get go by the way, because he did say that at some point he quit.
He wrote a post saying like someone help him pick him up, give him kudos, said he was there. For you? Oh, did he say that? Well, I missed that. And I was, he was there for me even when I was like out pretty much. So I don't know if it was part of the plan, but let's be honest, all the people who really want it out are out at this stage, right? Yes. The perfect squeeze squeeze. I mean, I've always liked to be
God's art. I think it's one of my favorite PFP collections from an an art standpoint. Problem is now is you have to buy them either on ether soul. So now you you, you find yourself browsing both right? And I don't mean that in a bad way. I'm just saying this is true because it happened to me. So I have to go here again. Kudos to Magic Eden for making you know this is so seamless, right?
It is nice to just shot multi chain and even with their wallet, you can convert the currencies and whatnot. So it's even easier. I don't like this multi chain and because I got to be honest, salon people care more about coins. So I feel like there is it's like it's harder for the NFTS to really have sustained rallies because it feels like my anecdotal read is that they get too high if folks will just sell them and then, you know, to, to,
to buy or chase coins. What would you buy one if you bought 1? Which one of these or? Solana or ETH? Oh, Solana. Right, right, same. Right. Because that's not oh, these are cool. Do you guys feel like Solana to me? I got like that's probably part of the reason why, you know, they got FUD for the for all the bridging. I like the fact they bridge back. I kind of just want them off ETH. Like if they were entirely off ETH I would like them even.
More I wouldn't be surprised if he just said fuck it. Like, bring your D guys back to the Solana fully. I mean, the bridge is open, right? Like you could technically buy diagonals on Ethan. You could technically buy one you like on Ethan. Moving back to Seoul. Oh yeah. Yeah, good call. Yeah, you could do that.
You could technically do that. So you know when when looking for and you can look at, The thing is, I'd rather look at them in Seoul because then I go to Ethan, I'm like, fuck, it's 2 E or like 1 1/2 E And then I go to Seoul. I'm like, it's 20 Seoul. But I'm like, wait, no, Solana's up a lot. Solana's up a lot. You know, it's $3000, it's $3000, but but it's interesting. So that's one thing that I saw another question for you on the NFT side. I mean, what happens to Camp Pai
Pandas here? Is there there I saw easy talk about it. Easy tried to not allude to them, but it was like, so obviously that his tweet was about Camp Pai Pandas, right? He said here, I'll pull up the tweet. I'm I'm curious your thoughts on this Actually I want to buy the fuck out of the fun on this one specific NFT. Despite the drama, fundamentally nothing has changed with their business and I really do expect strong recovery over time. You know this is clearly about camp. I pilot so.
Yeah, well, I think he's probably right. I think this space has such a short memory that everyone's going to move on. But like for me personally, I think it's probably a deal breaker. Like the NFT holders didn't get the inside info right. The IT was the investors. At least if they inside info. Is that what you're saying? Yeah, I mean, your founder's going to launch the Trump coin and he's not going to tell his holders. Like, I don't know, like, what's
what's the point? That's my, that was my reaction. I'm sorry. No, it's so. You're so right. But they're they've already started to bounce back. I. Mean it's tough, right? If he's to bounce hard, right, it's what were they at before the whole drama? And they were like .6, they dropped like .4. I mean, earlier in the year they were over one. I think they got like close to two at peak.
You know, there's a point where, you know, I expected promised like 100 air drops back in like the NNT AirDrop meta. I don't really think those panned out. And then I think rumors like them, them launching a token and then I'm not sure where those all went, but it's been a little bit down since. Interesting. All right, well, I guess we'll see where where this this takes us on their front. And then so on the NFT that's about NFT is not that much going on right now.
There was, we were hot for a second and we talked about the doodle news on and on. We had the ape chain going. I think we're going to have to wait because September seems to be a big month for for most NFT projects. You have anime, there's a bunch of stuff going on there on the Uzuki side. You have ape chain. There's going to be more going on there. I think September's going to be good, man.
September's going to feel like, you know, the back to school first day, like you're excited to see your homies and like it feels like life is coming back to A to a normal train. Like I think you know, I I KBM actually made a good point this morning. He said just be careful of the end of summer chop, you know, and he would know, you know, he would know as a day trader, you know, I think I would.
He said back away from the screens summer ending chop to digest recent volatilities in full effect. He I mean, look at today we start this. With crazy, yeah, I'm with him and I can also like, don't like summer's not over. Like I think some in the US, like some kids are back in school already. The Europeans, I mean, August is the month they take off. I mean, Europeans take like it's three months off, don't worry about that. But look at this.
This is this morning, brother. What a what a while. Chart This is the one hour chart. How are you going to treat? This how are you going to like? How are you? This is how. Yeah, you can't. This is insane. And and Mando mentioned this week is going to be crazy rocky. So we've got PPI tomorrow, we've got CPI Wednesday, we've got the jobless claims Thursday and the consumer sentiment Friday.
So there's going to be an event every single day that could potentially move the move the needle one way or. Another. Yeah, don't, don't, I mean, don't fuck this up, right. It's kind of the quote this, this, this this time around. I'm trying to look through your through your top 100 saying since. Well, so I mean, we've already talked to, we've talked to, you know, we've talked beat bitcoins. We've I mean, maggot coins. I'd be super careful.
I know, I know Elon's on with, with Trump tonight, but be careful. Y'all with the, with the Trump coins? Anything else here that I, that I, that I, that I went over Tyler? Did I lose Tyler? I did lose Tyler. I was wondering why he's not moving. Look at him. Look at him frozen. Sam's dead. I'm in a Mando with me right now. There he is. There he is, there he. Is yeah. I won't make you do the arm segment till he's solo. That is so funny. I was like, shit, don't let,
don't, don't let. I was. I was asking Tyler, is there, is there anything that you think I glanced over too fast that we should be covering right now? I, I can't bring up the P word again, but that's the only other one. So just go check out their their their pin tweet. So what's going on with Pack Moon that maybe I can mention it? So there's a it's is it today? You think you have till the 14th? OK, that was a little. Yeah, they put some good content out and like it's notable you
get 10 for one tokens. So like if you had 10,000 tokens before, you're going to have 100,000. On this. One day long. Could you advise? I like that. I agree. So I think that was a good move. Interesting. You know, I've seen some FUD like OK, now you're going to have to compete with a much bigger pool tokens on Seoul, which is real. But I mean, the blast meme coin market was just dead. So like, I mean, it can't be, could be worse.
It it it exactly right. You can't blame founders for trying something else and you especially going on salon, which is, you know, kind of the chain right now the cycle. My only concern is is a lot of people say like, oh, they're like, oh, but there's 100,000 users holders. But we talked last week about maybe the Murad way of thinking, like occults tend to perform better with less holder base and more control in the hands of a very of a of a of a limited few.
I guess we're about to see. I mean, they are, they are. They were the biggest fish in the tiny ass pond and now they're going to be, you know, a smaller fish in, in, in like an ocean. But I'm I'm very curious and always going to cheer for that team because I think they're cool. And also a lot of my friends have bags. So I hope they hope they do well. You know, you know, for the homies, you, you still have some, right? Yeah, I still have a decent bag myself.
I thought it was probably like I got tweeted this this weekend. So it's all about I've got like 330,000 tokens, so that'll be 3.2 million, so let's send it to a dollar. Why not? Pack you know what RB to a dollar. RB to a dollar. I rate a dollar. Let's go, let's go. Maybe I'll pick up a bag in a second on Solana. I'm going to see first. I'm first going to wait and see if if there's a sell off and then see if it's if it's worth
coming off. But definitely you'd figure a lot of people lost money too recently and stolen stuff. Maybe they want to we talked about it, right? The trenches were hurt last week, so maybe they want to recover some some this week, right? So, so we'll see where that takes us anyways.
All right, well, let's go into our last segment of the day, the Arbitrum weekly roundup that we haven't there was there was quite a lot of stuff going on that front from the from, you know, from Franklin Templeton, from Stables, Arbitrum from, from, you know, from a lot of stuff going on there. I mean, Tyler, what do we even start with them? I guess with Franklin, right? Yeah, the big news is Franklin Templeton, they launched their on chain U.S. government money
fund FOX on Arbitrum last week. So for a quick reminder, Franklin Templeton, one of the world's biggest asset managers, $1.5 trillion in assets under management. A quick TLDR of this fund launched so FOBXX, they invest 99% of their assets in U.S. government securities, cash and repurchase agreements with a focus on preserving capital while capturing yield. It returned 5.2 four, 5.24% yield in the past year, 3% yield over the past three years.
It's got $490,000,000 in assets at the end of July in this Arbitrum launch. Part of a wider initiative for them to to widen their access to retail investors. I thought the Franklin Templeton head of digital assets, Rodger Baston had an interesting quote. This is from the Decrypt article. The cost of using the network and the resiliency and the scalability of the network are all factors that we take into consideration when we are building the wall infrastructure into various blockchain
ecosystems. So shouting out Arbitrum there for its resiliency and scalability. And I think, you know, for me zooming in like this is definitely bullish for Arbitrum and E that investment giants like Franklin Templeton trust it with launching funds of this size. And I think strengths like resiliency, they can only be proven over time. So that gives the existing L twos with the most TBL like Arbitrum who had the TBL, who had the history.
I think that gives them a leg up in the race to capture this tokenization effort. And I think zooming out, I think the tokenization effort clearly making more progress than maybe some of us even realize. We we already have tokenized treasuries at 1.8 billion in size. A lot of that is due to Blackrock's Biddle fund, which is paid out seven million in in on chain dividends this year. It seems the SEC is given their wave of approval and it's big news for ETH. It's big news for Arbitrum.
Interesting. Yeah, it is big. I mean, we love Franklin. You know, they're they're they're they're they're they're great asset manager. It seems like they're they're going all in on the on this industry, right. So it's been it's been good to see they've been running great reports. You know, they're really leading the charge. So big fan. Let's see. It just gives us more access to to on chain products, right?
I feel like this is one of the, the big, there's like the biggest narratives of what's coming to crypto and you could buy stables and now you could buy, you know, these funds that are effectively stables but with 5% yield, right? So this is more diversification and more serious players. Yeah, No, that's, that's been good.
And then the other big, big stuff, you know, and there was a few other little news on Arbitrum last week that we mentioned on the show, but the other big stuff I saw was the Orbit chains, right? Can now use USDC as a custom gas token. I mean that that helps quite a bit, doesn't it? Yeah. And so now you're, it doesn't, so you're, they don't have any different types of DC, which helps it makes it more, it provides, it creates a more stable environment for the, the
devs and the teams behind these. Because, you know, now you, you, you control like what guest fees are, right? You don't have to worry about the, the price of ETH fluctuating like on a morning like today versus USDC, which is stable. It it it offers a lot of liquidity as well. I was looking at stables. So ARB is just dominating stables on L 245% of stable coins on L twos are on arbitrome $4.4 billion bases. Next up with 3 billion and optimism with 1.28.
So pretty significant. Yeah, I mean, there's 50,000 ETH right on. There's this tweet from AJ Warner, good friend. There's a, you know, we're now only nine days into August and there's been an additional 50,000 ETH bridged into Arbitrum, one additional 50K ETH. That's why, right? It's huge, Yeah. It's not slowing down. So I mean it feels like Arbitrum is you know for sure one of the the leaders, if not like the leader in L twos.
Yeah. I mean when it comes to when it comes to to TVL, they definitely are up there, right. They're the the dead leader, right, the second largest heath holders. And so you're looking at where is it, Arbitrum, I had it, there it is. It's fucking $2.67 billion locked on there. But I mean that dip is because of the broader crypto dip, right? Like. I mean, it's all the alt like altcoins have just been trading over all that shit, right? It's like, I don't think it's
just an arbitrant thing. I think it's everything. Every single L2, every single one of them, every, every single altcoin. You know, even most alt L ones too, brother, right? Besides, Solano have not really been trading as well. So yeah, the USDC stuff was pretty good, right? You can they deployed that with
conduit XYZ pretty solid team. So there's there's a lot of stuff going on. So if you're trying to, you know, if you're trying to build something, definitely pay attention to what's going on there because it's interesting. I always wondered what all these big brains over there with all this ETH spend it on what's what's the one thing you know, because they they like to hold their ETH over there.
You know, I want to know what the arbitrary E Wales we're going to spend their their their ether. There's all meme coins over there. How we know? You know, like define they like yield. I think that's yeah, they. Like yield right. They like they like the really right, right to me, like arbitrons, like a really like right curve chain right in a good way. You know, they can't all be left curve in the industry. You know, we probably got Salotta for that.
You know, give me give me some, you know, give me some, some, some some right curve stuff as well. All right, well, look, well, look, Tyler, I think I think it's a good round up. We're coming up on time here. It was a great show Tomorrow. We got the robot spins, which by the way, shot the robot our our our sponsors on the show. They they've reached 5050 right. The bird supply over the weekend. It just hit.
We mentioned it last week. They were getting close to that, but the weekend is when it actually hit. So Congrats to them. And so with that with that with that, we'll see y'all tomorrow morning, 10:00 AM Eastern Standard Time for another episode of FOMO Hour on rock radio. Let's.