Yo-yo, yo-yo, what up? What up? Good morning. Good morning, GMG. Wednesday. Thank you. Wednesday, Wednesday, February 28th, 2024. Look at that. Another beautiful day. To have a beautiful day. I got my Co host in the house. OSF Mando. How you guys doing today? Good. How you guys doing? I'm vibing good, man. I mean, price action is crazy. Price action is fucking insane. Clearly. Clearly it's crazy. Clearly. Clearly it's insane right now because everybody's training.
Someone, someone, one of you two are going to fucking smash your microphone at the screen. Look at this. My microphone actually doesn't even like fit into my shed anymore. It's like completely, like, broken. At this stage, my microphone doesn't fit in anything anymore. But anyways, fuck it, dude, what's going on man? Everything's just insane. Everything's just insane. FOMO hour Episode 68. One episode before 69. So tomorrow's a very big day, very important day for FOMO hour.
You know, we only get one chance here. Episode 69. Don't fuck this up. Bitcoin's going insane. It's a market report on the show, as usual today, Daily News Party goes on. I mean, every day we check back and we're one day closer towards Bitcoin all time high, which is absolutely insane. So we'll be covering all of that good stuff with you guys, as usual. As as you know, probably.
Obviously these days usually as you all know are heavier on the coin talk and the market talk then then NFT and stuff like that. But there is a lot of stuff going on and I mean we're like one day away from like blast and Portal. So it just keeps on getting crazier and crazier and crazier. And then last but not least we're joined by Bitget today's show sponsor to talk about some like sex stuff. CX that is.
So we'll see what they're getting that with over there at Bitget. As usual we are giving money away on the show so we're gonna give away like $250 today we're giving away $250 to 1. Lucky live listener has to be listening live. So bottom right of the of the Twitter space is the purple box. You know what to do. Follow FOMO hour follow roll bitcom and and make sure you retweet. And if you're in these spaces, at the end of the space you have to be live, you have to be
there. Well you have a chance to win 250 bucks. Yesterday we did 4 loot box pins. I think it was like 22 red guys got one right before I ripped like another 20% something so good for those people. And then and then two rug radio NFTS which also went up after that. So you love to see that and then guess what Friday we get to do four more. So I'll make sure I prepare that loot box before so I can like really start changing things
around. And I keep doing this the morning off because it keeps getting swept. It's it takes like an hour now to make this fucking box. I'm not going to lie boys. So we're there. We're at that point of the market. We're like it's gone crazy. But anyways, anyways, anyways, where I'm going to post a broadcast link we've we're live on audio and video as usual. Do we have the the little broadcast link Mr. Richard Sam's going to send to us.
Why don't we get this party started with the market report? Can you dig it? GMGM, everyone. Yeah, it is kind of mental. Like if you have just been tuned into crypto over the last few days, it's not always like this. Like it has been absolutely insane the the last week or so in crypto we we breached 60K this morning we're now trading at 61 K roughly on Bitcoin. ETH is 3303 thousand 350. Salon is still hanging out around 113 area. But really Bitcoin has been leading everything.
The ETF inflows are insane. I mean we said it on this chat so many different times. Forget technical indicators, these are price indiscriminate buyers. Like they do not care what price they buy and they're going to keep on buying. So yes, Bitcoin looks overextended, but yes, you're going to get another 500 million inflows today and that those inflows do not care where
Bitcoin is trading. So I think this is going to be a very, very strange market in that I wouldn't follow chart, follow, follow the flows as in follow what's going on in the ETF and then follow about things like funding where things seem slightly overextended at certain times. It's been a quite a good way to kind of I think trade this market if you've if you've been trying to, other than that just holding right like most stuff, most stuff feels like it could
go high here. Interestingly it's really been Bitcoin, like Bitcoin is up 7% again today. That's not really the case for a lot of alts like it's it's pretty much been every single altcoin out there right now over the last 24 hours. Bitcoin up 7%, Solana up 4%, ETH up 3%, things like suey and say up like 1 or 2% and then you have some some things which are like a down like tier is down. A bunch of other smaller altcoins are down like it's it's been Bitcoin sucking in the liquidity.
Bitcoin dominance has gone up to about 55% at the moment which is which is particularly high and it just generally feels like there's a bit of a pain trade on the timeline because I think a lot of the timeline is involved in alts over Bitcoin and kind of felt like they would play catch up and have a classic altcoin season. And what you've really seen here is Bitcoin specific flows driving that higher and everything else has kind of been slightly left behind as well as
seeing high funding. So it's been a little bit difficult I think to trade if you've just been altcoin kind of shows you should always have some of the majors at all times like if you're just exposed altcoin a little bit dangerous. You had obviously huge moves again in the in the meme coins. I think even after our show was I think Pepe got 1.51 point 6 billion, WIF got all the way up to about 800 million. Those have since retrenched. The funding on those like did go
unbelievable. I think for WIF for example it was about 200 and 200 and something percent at one stage maybe even higher it was nought .2%, nought .2% a day which is yeah yeah, particularly normally 2% every eight hours. Sorry. So like unbelievably high on an APY basis for for with Pepe similarly saw something like over 100%. So like those memes kind of caught up with the funding thing and it's definitely worth paying attention to that for some of the alt coins.
But they were the they were the 1 alt sector. I think that that generally outperformed as well as some of the Bitcoin specific stuff like BRC 20s had a big rush back. You saw a huge ordinals trade happen 1.4 million for the 2nd inscription and so you saw a lot of lot more interest again back into ordinals Other than that if the NFTS have generally been still driven by the AirDrop matter at the moment.
So it's it's interesting to see how that one, how that one continues obviously got some huge stuff coming over the course of this week. I don't even know where portal is pre market at this stage like it's like markets and they all show different levels. So just just assume that that's going to be quite a big one for a lot of people I think tomorrow. Where's that IOU at? Hold on. There's an IOU trading at like double digits and then there's there's whales trading at about
3, 1/2. It's it's a strange, definitely a strange market at the moment, that one. It's. Not like accurate, accurate, right? The IU US I don't want to tread. I don't know what's accurate that's the point like there's been over $1,000,000 traded there or and it's like continuing to trade there. So I just like I just have no idea what this one. It feels as though a lot of things right now just given the nature of you know the the
violence of the Bitcoin move. I just you just turn and then you look back and it's a crazy different level to where it was and that can be up and down like it's it really is kind of wild. Part of that is like like I said the very high funding in the market, the risk taking appetite is is very, very high at the moment. And part of that is just you know sometimes you get like free money and that drives up the price of something. But this is definitely a FOMO
LED timeline. I would say like if you if you're literally if you scroll along your timeline all you're going to see is a bunch of people saying I told you so you should have bought this, you should have, you should have bought that. This is going to be the best trade. Like it very much feels like that sort of timeline. Wow, OK, that's that's what I mean. Look, can we can we just talk about how community members won for a second?
There's like, I need someone to create a Pepe with mug index or something like that. It it. I mean, this is insane. This chart right there, like every single CT trader that was like, you know kind of like laughing at the whole Pepe with his demise for a second like the whole beef through. Remember, it was like a little very short beef. I think Pepe's the one that's
really stood out there, right. Like although Whiff has has this violent move, but in terms of one that people counted out and now has gone back basically towards that all time highs, right? Like it was very, very briefly above that, like the first day it was listed on Binance, but that is a massive, massive move in Pepe And then Whiff very similarly just I think it's done a 2X in about 3 days. So that's been a very, very big move.
You had like Mog Trump when all all do fifty 5050% plus moves. It's it's been a very, very crazy time to be involved in meme coins. OV is cooking right now. Wait, that's not the right one. That's definitely. The wrong coin. That's definitely the wrong Trump MAGA. I don't know. I'm not involved at all in that one. I just know a lot of homies are. Is it? Which one is it? This one? Yeah, this is a one. It's at $320 million, for what
it's worth. Those who cooked that early are smart because this is election year. Yeah. I mean that was 100 maybe a week ago, week and a half ago. That's not 3X Mog is. Obviously Mog's been like 50% upon 50% each week. So that's had a huge move. And then whiff, I mean whiff was kind of quiet for a little bit, I mean literally on the 23rd of February was that five days ago it was trading at 280 million market cap and now it's trading at 670, so like crazy, crazy.
You don't even try to understand it right? Like you don't even have to try to understand it. I think you can't. Like the memes are unlike a lot of the other sectors, the memes themselves actually have very, very strong positive momentum. And the reason for that is listings, so like as the volume and the price goes higher, the more chance there is to be some form of a tier one listing.
So as it goes higher and higher and higher the more chance, you know Pepe now everyone's talking about trying to get listed on Coinbase with everyone's trying to be getting listed on the balance spot exchanges like you have this very, very strong positive momentum with mean coins when they when they get going. So it's not like any other
sector like that. I mean, some other sectors have it, but like generally the process by which a meme coin gets allowed onto an exchange isn't like a isn't like a deep due diligence process like something like a utility coin. It's more to do with, right how much price and what is the volume? And that this is great for those coins, because it feels like they're far more likely to get listed now. I mean, yeah, it's really wild.
This is a weird period where like a lot of stuff is doing really well across the board and you don't really know where to shoot and it's like everything's doing pretty well. How how do you feel guys feel about BTC dominance here? I mean just every day I check it just keeps on going and going and going higher and you have like for example, even Stovana was like heavy lagging behind, right?
And so even ETH, I mean it moved, it had a sharp move up, but that was catching up from ETH lagging itself was already lagging, caught up. What are we going to see? I mean OV your call about Q1, I'm just saying it's not off the it's not off the table. OV made a wild call a couple weeks ago. People laughed at him. What was it? Harder KQ One. Yeah, I mean H1 was what I really said. I said, I said Q1 if this, if this keeps going, but yeah, it's, I mean we're not, we're not that far away.
It's still a 60% move in Bitcoin from here to well less than 60%, yes. No. But yeah, about 60%. I think it's 70% actually to get to 100K. But this just shows you, it just shows you what we've been saying for the past few days. If there's 500 million of demand for Bitcoin ETS every single day, the price is going to move because it has fixed and limited supply and a lot of it's been taken off the market. Coinbase is having has the lowest amount or spot Bitcoin
that it's ever had apparently. So it's not surprising given the data that we have and we know and the trends that we're seeing and that we know this price action. It shouldn't be a surprise to anyone because all that information is there. The question is do these inflows continue? But yeah, as we all know and right now we know where the trend is.
And as the price goes higher, sometimes things look more attractive and people want to get involved and and the FOMO really starts to ramp up and that's probably what we're going to start to see now in in Bitcoin ETF. Like I genuinely have people that I know who don't really touch crypto who are texting me about like should I buy IBIT, should I buy FBTC or whatever. So. It's definitely wrapping up. Single person that messaged me. And I've I've had a ton today. I have not.
I have had a ton. I have not had a single person, I swear to God that messaged me. People just complaining. They're like, oh, why? Why didn't you tell me about this? Or why didn't you tell me about that, like? Getting those, those are the worst. It's. It's people who are tourists who like, think crypto's easy. And they're like, oh, you know, like how? Like, why didn't you tell me about Pepe? It's like. Easy motherfuckers. Oh my God boys, look at this. I I want to like, how beautiful
is this on? For those of you who know I'm just on screen showing the Bitcoin weekly chart. It almost feels like we made it out the mud. Like I was talking with Sam's our producer before the show. He goes fuck name Mike. I didn't realize what 61.2 K I'm fucking what she says. But even Sam's didn't realize he produces the show with us every day. So what make that makes me think is all of your friends, all of my friends are going to look here and say wait, we're really
way close to all time high. I really don't think we hit mania still until like we get like all time highs across the board, really guess thing, when do we hit? Like there's a famous comment right now going around CT, which is like we're still in echo chamber, we're still not over the place this and that. Do you guys agree with that? Because I'm not getting that many hit UPS. I'm really, I checked my Instagram DMS, there's not many. There's there's not much going on there.
There's not, we haven't seen the the we don't have. It feels like to me anecdotally and optically that we don't have the same number of users and participants that we had in 2021. It still feels like we're some way off that you tend to get those once you've hit an all time high. And remember, Bitcoin hit its all time high in 2021. Was it like January, February or March 21? I can't remember. Maybe in Jan 21. In November 21. Not not it's not. It's all time high of 69 K when
it hit. Its the all time high before that right? So is this before? No before 69, no, what I'm saying is before 69 K what was the all time high like 28 K or something like that? I see what you mean like here, see. What I mean, So, yeah, so it hit that in like towards the end of 2020-2021, beginning of 2021, like looking at that. Chart. Yeah. So we haven't. That's to put that into perspective, right? Oh, you're right. Yeah, so let's just say Bitcoin hit, It's the last time bit,
time hit is it's beat. Its last all time high was late 2020, early 2021 and that's when everyone started following in. You're right, we we're still not at that stage yet. I agree. I think we're we're in December 20 right now we're in. December 20, right now. Yeah, I think so or maybe even early 21. So you know that's just that's just one indicator you can use that. Obviously there's tons of different variables here that we have to consider.
But I do think once you've hit it's all once you've hit your all time high and the media's reporting it again and it's all over the news and everyone hears about it.
That's when people think oh fuck like maybe should I should get back into it and it's usually you know the the story pitched to the first side because there's the crypto's going to change the world and and maybe it will and then you know second and third side because we realize that this is just another cycle and and it's so crazy you know this is our chance that maybe the the where we this time. Is different. It's a super cycle, OK? I think we have a lot more room to go.
But I can see, you know, I can see why alts are underperforming a little bit because I think lots of people are still up big on alts. Yeah, but people are. Still under 2 bucks and it's just ran from like 20 something to like 34. Yeah, but people are up big on alts if you look at if you compare prices since the beginning of this year or since the end of last year and. That's not well. I would demand if I 100% agree
with that. Like Bitcoin, last time Bitcoin was here alts were 40% higher, total three was 40% higher the last time Bitcoin was here. So like there's a huge catch up here for alts if they move. So it's a pain trade in my opinion. It's been a pain trade for a while just because of the inflows. One thing I would say. I agree with that. I don't. I don't think they.
I think the next part of this move is a massive catch up in alts, but I guess the point I'm trying to make is that like that's not where the demand is coming into right now. No, I agree. I just mean that they've been in pain for a while. I don't think this has been like, oh, everyone's sitting on loads of profits. I think this has been a pain trade for a long time. I think it's a combination of both.
I think if you are new to the market and you pardon to alts recently, it's a pain trade, but I think people are still up a lot from last year. Yeah, from last year, yeah. It was obviously brutal for some of these like salons at whatever 10. But one thing I would say is that like you we are like we're kind of stuck in the mindset of Bitcoin AT30K. So like the move from 30 to 40K, that's a 30% move. The move from 60 to 70 K is like
a 15% move, right. For us to get to all time highs here, it's only like 5% right or 7% or something like that. So like put that into your mindset now it's like we're actually at so much of A higher level that 1% on Bitcoin is 600 bucks, right? So it's just something to be aware of. Like when you start thinking about OK and Bitcoin go at the high, At the high is basically one one day's move recently at the moment. Like Bitcoin to to to 100K is what's that a?
From here about 60% move, yeah, but that like as we start going up, up like the way that the Black Rock's buying, right? And we're probably going to move up like 1 or 2% a day. Like those are quite big numbers AT60K70K80K, you know. So I I think we can start hitting high numbers relatively quickly just as people start to like. You'll start to recognize that you know 1%, like 1% on ETH now is very different than when it was like 1500 as well.
It's like for all of these things, as they go high, you have to suddenly start realizing that it's much bigger numbers that you're playing with when someone comes in to buy. Man, I love this. Man, I I just, I wake up so happy. Like, I woke up in the middle of the night to pee and Bitcoin was like 58 K and I woke up for real and it was 60 K Like it's like, it's it's wild what's happening
right now. I mean, Speaking of Bitcoin and what you're talking about, I mean BlackRock literally are recommending that investors make a 28% allocation to Bitcoin in their portfolio. I mean, this is absurd, not absurd. Sorry, we it's almost like, remember we had Eric Bakunis and when, like, we talked about ETFs for like a week on this show, like every single day was like
an ETF special. And we're like, these are going to be these people's jobs to do that they're going to be on The Bakunis was telling us they're going to be on the golf course selling fucking Bitcoin deals because that's how they're going to make their money. And then I first dipped the 38K and it was like, oh, the ETFs are a failure. I mean, look at this. This came on a recent Black Rock
client event. According to Swan, the event was focused on promoting Ibid, their spot BTCETF and then on the other hand on the other hand you have this with Fidelity now recommending A1 to 3% crypto allocation in your portfolio gateway drug. What happens when that 1.3% becomes three to six slowly then suddenly? Can you guys, either of you explain this in NBA terms for the people that are not from your tried out tried 5
background like like Eli 5/8. For someone who doesn't understand what I'm trying to say here, like it's pretty big. Yeah, I mean there's hundreds of trillions of assets out there. So if and the big the Blackrock's the biggest money manager in the world, it manages I think just over 10 trillion of assets. So if it's saying you should have a 20% portfolio allocation to crypto, that's like what is that $2 trillion? So 2 to $3 trillion, so. Bigger than the entire crypto market cap.
It's these are not small numbers when they start recommending this stuff. I don't know if it was that was like for every single portfolio that they manage but that's that's a big number to like start swinging around. Even Fidelity says like 1 to 3%. It's huge. Like I think then there's various different calculations of global amount of assets but let's say it's somewhere between
400 to 800 trillion. Yeah, you're talking about like if these huge investment managers start recommending it, you can start seeing money that we've never really even perceived of moving into the space. Yeah, it's really wild. The stories are insane. I have a question for you guys. That's a good point from Joyce here. In the YouTube chats it said BTC volume is mostly in TFs. They won't cycle to alts normally, hence you can expect bigger gaps.
Do we expect an A revenge altcoin gap up or is the pay and trade just people thinking that and it not really happened? Bitcoin continued to run to like 100K, but alts remains somewhat flat. I don't, I don't think, I don't believe in that. Like I think there's a, there's this element of beta in any market, not just crypto in any market. Like you'll have something that will move 10% and something else will move 20%, something else will move 50%, something else will be 100%.
And the risk of the things that move more is is a lot higher, right at this moment in time. People, you know these guys waving in Bitcoin by the ETS and that's the thing that's outperforming on on a that's the thing that's moving higher on a daily basis. But eventually as people sell their Bitcoin, like if if I'm someone who holds Bitcoin right and I've just told my Bitcoin because it uploads, what do I do next? I'd probably go and buy ether.
I'd probably go and buy something else because I'm trying to make more money and that's just a human psychology thing and that will happen. That will trickle down And we have seen moments of it. You know, like we've had moments where bitcoins had this great big run and then it chills out where it is and then Bitcoin dominance drops to like 51% and then that's because all the alts have moved massively, right? Like we've seen ETH Bitcoin move to 0.06 twice already so far
this year. We're now back down to 0.054. But we've seen these catch up plays and it's the same thing as 2021. You would get Bitcoin leading the rally, you would then get ETH moving and then you would
get alts catching up again. So at some point alts will catch up. I think if anything it actually if you're just trying to trade the stuff it should make it really easy to trade because every time Bitcoin has a big leg up and you buy alts and and which have underperformed and if you're just patient about it, they they will catch up. I think in this kind of market I think they will catch up.
I guess the big thing is like will we ever have an alt season like we haven't had in 2021 where Bitcoin done was actually dropped to 40%. So you know it moving from 55 to 50% is a big move, but it moving from 55 to 40% is a massive, massive, massive move and that's when you saw altcoins at multi 10s of billions of dollars of market cap at just insane levels. And the big question I think we're looking for here is will we get that again?
And I don't know, I don't know if it will be as crazy as it was in 2021. But our best bet at that happening I think is post an ETF approval when the this ETF money is coming into ETH and I think ETH has much more obvious bases to it than Bitcoin does. I mean we talked about Bitcoin bases last year and most of the bases we mentioned didn't work at all like bitcoins just high and all this stuff is unchanged. The only thing that is higher is actually ETH.
ETH is the best, the best Bitcoin bases. So but for ETH it's different. You have so many ETH bases that will actually perform and that will then 'cause other alts to perform. So I think we will have some kind of an alt season. Whether it will be the same extent as 2021 where Bitcoin dominance drops to 40%, I'm not
sure. But I think we're looking at a post ETF approval, ETF approval in May and that's if we get the ETF approval right that's still in the balance and we don't know it's different to Bitcoin. So there's a few things going on here, and. I think it's silly if that gets approved or I'm, I'm going to go out there and say when because we we like to manifest but like it's you can still, you can still. Find alts that will outperform Bitcoin. We just mentioned a few
different things, although. Right. Like Mandel's deep in that stuff. But BR CS, BR CS haven't moved that much. Like look at a few BR CS. It's just the first day in a long time that. BR CS have you. It was in your minutes today, like they're moving today. Yeah, like Audi. Big move. Look at the price of Audi versus the price of Bitcoin in the last true true year to date. Audi's unchanged Year to date. Bitcoin's up. That's true. That's true. You see what I mean?
Like I. Know what you mean? There it is. There they are. You're right. You're right. Like like. You look at the year, you'd look at the year to date changes. So that's the point I'm trying to make like it's it's not as I've to me it's not as obvious because it's really if they were real bases then they would be up more than Bitcoin as year today. I mean, it's changed, right? It's been ordinals, not the BRCS.
It's been ordinals. Yeah, Ordinals has been the best leather bet on Bitcoin. Right. I mean, if you look at a puppet right now, one Bitcoin puppet is 10,000 United States dollars. That is insane. It's oh in crazy. I was looking this morning and I realized this morning that it 10X the trade and and I'm like I was like what the hell like it's it's absolutely insane.
I went to check this morning I was like let me do the math in in dollars because like usually when you get sharp like native token rises it tends to the US dollar tends to adapt. The puppets are .15 five, like .15, five times 61. That's called 61 flat. That's 9500 United States dollars. And let's put it now in in ETH terms that's two and a half 882.8 ETH. And when I think about this, I'm like, well, I saw every project go above 10 ETH, last run as 4K ETH.
So like the moon overlord's defense here. And I got to give him a shout outs here because he's been yelling about ordinals every day, non-stop 24 hours a day. You know, man, I think on the ordinals side there is so much room to run and it's probably the best play. Like you know how we're going to look for the altcoin play here? Like oh what ETH altcoin is going to run because ETH is going to run because Bitcoin's going to run.
Your best bet is probably to keep looking within the BTC ecosystem and with ordinals in 2021. Like you saw ETH NFTS run after ETH went crazy, right? Like you saw ETH NFT mania with like $4 billion months. We haven't really seen that guys on on on Bitcoin. We still don't even have a Bitcoin at one BTC floor. I mean sin is there was screen times by the way that bought inscription #2 for one point something million yesterday $1,000,000 sale in NFTS in 2021. That was another day.
It was Spirit Azuki selling for $1,000,000. There was bored apes selling twice a day for fucking $1,000,000 like you guys remember that? Like you swept $1,000,000 worth of Apes Mando, which led to the iconic trade, right? Yeah look I I agree with you like we're we're not at peak yet or close to. I mean the NFT space as a whole is very feels very different to what it was back then. Punks are obviously like 200 K floor, but that is. Crazy.
Most people in NFCS have been, have had a bit of a torrid bear market. So, but I do yeah, I fully think that that ordinals could be an absolutely massive play part of it as well as like because they're building out this ecosystem. They're also looking for communities to give air drops to. And you've seen a lot of, you've seen a lot of air drops for the top ordinals like the the rise in the puppets was was ahead of you know beginning a bunch of different air drops at the
moment. So that's kind of like the pudgy play you know. So I think, I think that's that's the other thing about ordinals, it kind of again that's kind of similar to ETH if you traded NFTS in 2021 like you there was a new AirDrop every single week just for like trading on open C it's going to be a bit like that I think in all knows as well I. Mean. Look at this on digens, right? This is digens of finance.
You can all go check it out. We cover bacon, Ethan, Solana on there every day and everything top trades. And I mean look at this. First of all, shout out to Synis Screen Times for buying this incredible piece of art, which is the second inscription for $1.4 million to 24 Bitcoin. Great trade here I I think. Do you guys think the stage is well? I think the stage is so well. I think this goes for 100 Bitcoin down the line.
What do you guys think? Yeah, yeah, look, I mean, as you said, as in terms of Grails, I've never liked the rare SAT stuff. It feels a bit more niche than the community LED stuff, but at the same time, #2 feels like it feels like an. I think #1 is even for sale though, right? Like, is it? Yeah, yeah, there's sales. I don't even know where it's Ord Ordi. I don't know. I use Ordi Scan for some stuff, but I don't know where to check.
I'm excited for the RSIC stuff 'cause you get your tokens at the halving. Tokens. Tokens. Dreams. More dreams. More and more dreams every day. So it's going to get silly. Y'all it's. I mean the Rat Bros are going crazy. It's like the on Bitcoin right now I think there's 3X4X from Mint. The Quantum Cats are still hovering around a little 2 1/2 X above Mint price. It's really been the monkeys and the puppets that have been
leading the charge here. And now the RSI See Meta protocol is a $5000 AirDrop that I really got so insane we may as well segue into NFTS quickly here on the Solana side, the big news was actually the mad lads that announced the raise. I don't know if you guys saw that they raised $17 million raised $17 million I I don't know where the the the the tweet is can't find any more for backpack it was backpack
exchange raise. They said we're happy to announce a $17 million strategic Series A round led by Placeholder VC. So you know, I think. No brainer that one. That seems like such a obvious 1 to get involved in those. Those guys are great. What do you think the valuation is here 17 is? That probably 100 plus like normally you'd sell 5 to 10, 510% or 10 to 20. $100 million value here for one exchange like this. This is no brainer to me. Like these VCs are going to cook.
That is a good one. So that had Solana going, but the sole equals. Oh wow, look at that, Solanas 114, lads. We may make it. We may make it. I've been waiting for that one. Jesus Christ. Yeah, that's the, that's the resistance level. We'll see what happens. But yeah, I mean, Solana just still continues to look completely mispriced to me out of all the majors. But there has been some talk about some locked, locked Solana
being sold by the FTX estate. There's lots of rumours about that flying around, so that's maybe been keeping a lid on it recently. But when you see price action like this, it feels like that if there's a block of locked FTX stake Solana, that's the sort of thing that that probably trades pretty quickly. I saw this thing from Sokka, right like he. Is that what he's talking about? He goes Novo time to step back from the soil Ana offer for a bit. You'll get much better prices to
maximize FTX value estate. He's actually tweeted that a number of times over the last 12 months. Novograt who he's referring to there is Mike Novogratz who runs Galaxy Digital, which is the, which is the firm which is in charge of liquidating the FTX estate and they've been doing a great job of it. They managed to sell, I think we've got approval to sell their anthropic stake last month.
But then the last kind of thing that that's FTX has is this locked Solana position locked over a number of years. So there is a lot of talk that they are trying to exit that at some form of a discount and a number of different firms I think are maybe placing bids for that.
So you know, if you're one of those firms bidding or you're all of those firms bidding, you probably have an incentive to smash down the price of Solana during the bidding process and then the moment that it trades, maybe it flies. Man, I I'm just waiting for that one to go. But it looks like it's somewhat trying right now, Mando. It's one. Thing Well, this is the thing.
It's very, very tough to do that in in a time where Bitcoin smashing 61K, you know, like there becomes a point where yeah, well done guys, you can manage to keep it down. And then there becomes a point where fuck, we actually, we got to buy this thing as soon as possible. So we. Could stop smashing soul down at some point, lad like wait wait, I just, you know. So I think that's why I like the trade. I mean, I put it out yesterday. I didn't.
Say that yesterday and I, I, I copy traded you, so hopefully that that works out pretty well. So it works out pretty well. What? I wouldn't mind a nice big soul rally here. No, I wouldn't mind it either. I mean, look, Whiff has been out trading its native tokens for like a minute now, so I'd love to see Solana catch up on this front. But back to the NFT. Last but not least, I mean with ETH doing well.
You know, a lot of the ETH NFTS we've already been covering seem to be doing very well, especially, you know, in dollar terms. Most importantly, I wanted to mention, I mean, I saw a chart yesterday about crypto punks that I shared. I mean guys, punks are about the $200,000 floor. Again, where do we, where do we go this cycle? Last cycle half $1,000,000 high? $1,000,000. Yeah, that's the I I I think so. 100. $1,000,000. I mean 100 E floor at 10K E $100 million. Could do could.
Do What do we think? I mean, look, this is. The I really like that floor punk. Oh, which one? This one. Stringy hair and COVID mask with the sunglasses, but it actually is quite cool. It's funny. Yeah, it's it's not that bad. I like this one, but I don't like that the earring is hidden. So it's like a cursed 5 trait, but there's some nice punks out there.
But then you look at like what you can do with 200K liquid and you know you realize that you know, I, you know how many times I've thought of, like, I mean call me crazy, but this morning I I I considered like putting my punk like a loan. Like I I consider taking money from my punk and just putting in more coins like I. That feels like the signals will sell everything. So I said no, I agree with that. Stop it. Can you just let me know when you do that? No reason.
No reason. Actually put out a tweet about it when you do it, please. Fuck you both. You know why? Fuck you both? Because two weeks ago I was saying that I feel like doing that. I was like, why don't I buy Punk 460 K? Because it was 160 Ki was like, I'll buy Punk 460 Ki even wrote out the thesis. I think Wizard made fun of me. It was like top. I was like, dude, 160 for punk. I'll buy punk. I'll long ETH on 2X. They're both up. OK, so now maybe it's too late, right?
I'm not gonna do it. Also with my baby. Like my punk is like kind of like become like part of my identity. So you'd never imagine just seeing the Froak punk. Just get liquidated. It's not really funny. The thing about you is, you'll probably just forget to pay it back. You'll you'll have the funds, you'll just forget to pay it back well. It was funny. This is, you know me very well at this stage. I'm glad before it is worth, but this is literally me.
Like I would literally, I would probably have forgot. It's like, oh shit, and you get ties for your book is gone. It's like, no, I forgot to pay the loan, so I'm not going to play stupid games, so I don't pay stupid prizes here. So on the NFT front, everything's rallying higher. I mean, the Milady's have really been running more than anything else. This is what I noticed on on on your dashboard right now. The rest of. The lady mug correlation is is very very high.
I mean, Milady's in control again right now with Pepe and mug flying like no matter what people think of it, like, it's just it's just it's just his reality, you know? And lie. Women lie, numbers don't lie, so that's for sure. Anyways, just a reminder for everybody to hit the retweet button at the at the at the bottom right of the Twitter spaces. All you got to do is follow from our follow robicom and we'll give away a quick little $250 to some a lucky winner.
We give away money every single day and twice a week we do massive loot box spins because why the fuck not? It is a bull market after all and let's get it running. The other stuff that's been doing really good on the NFT front has the Wassies ahead of their AirDrop come in for pomp token. But also you guys, I saw you guys and a few other projects were selected for Juice Finance. What's that all about? It was yesterday someone like
swept you guys. It wasn't even someone what I thought was cool on the rec guy front is it was just a few people, right, guys? Yeah, it wasn't like $100,000 suite. It was like a bunch of people hurrying up to pile up to buy the rec guy for what's up with the juice thing. Yeah. I mean, we actually invested in juice last year. So we have a good. I know because Mando had to like send me a screenshot saying that I forgot to answer or faded it and he just had to like Mando had to like.
I just thought it was fucking hilarious, like. Those guys are really smart. Those guys are actually one of them used to trade a similar asset or the same thing that I used to trade when I was in New York, when I was in New York as well, so. I literally teed it up from in the group chat in the Crickets. Fucking crickets. Well, I can see everything, bro. I love all the people fucking. I love you guys. But like I can't see everything. I I have the excuse that I'm eternally busy.
You know that that's my excuse. I'm always busy AF. But besides that, yeah, I I mean, I totally agree with you and I mean it looks, it's pretty cool. Look, it looks like the AirDrop meta is is on for founders. I put it. I put a tweet out. I said look we're in if you want to like you know like whitelist like you know rug Ritogenesis in the face of web 3 Corey Van Lew to to your air drops, you're welcome to.
But just heads up to our community like if one of them rugs we're not partners with them. They all dope dope. You got to be careful with that stuff And then you guys have gotten a few of them and I think like there's like a blast someone gave us both into chimpers us Melody and stuff. I said blast multiplier and whatnot. I mean OV, you must feel like the day before Christmas right now. Yeah, I mean, I don't get the you don't the blast token air
dropper. Not until, yeah, it's not until May, but I think there'll be a bunch of air drops for blast depositors tomorrow or over the next few days. Obviously we have Portal tomorrow as well. I mean, tomorrow's going to be one of the biggest days for things going. Of our lives, probably. Yeah, potentially of our lives. Yeah, it's going to be massive. We should talk about Portal for like 5 minutes. Where the fuck is that thing going to come?
Because it's yeah, I mean it's all over the place in in in OTC markets right now like ranging from three and like whatever it is 3 1/2 billion to like 15 billion FTV this. Could this could be the biggest trade of minus OSS Korea. But this is this is the biggest one, The biggest one, you think? Make it in the apes, we. Put 250K in and. Yeah, biggest, maybe biggest return. But at 40 million I. Mean the apes was what, $15
million trade P&L? Yeah, but the apes from you have to factor in all the air drops and all that kind of stuff. I think it's going to be more, I think. I think Apes was just shy of 20. I'm. Going to be sick, yeah. I'm just shy of 20 and this this one could be 100 X on 250K could be depending on where the fuck this thing is. I just think, you know, you know how they do all the the social farming stuff for it and that's how it got really big. I just think they're just.
Going to get a new wardrobe, Brett? They're going to. They're going to do. Get a new wardrobe. I like my I like my white Mr. Blue Tops, you know? And I love that for you. I hope you never change your wardrobe. I man it it it could be one of my big traits too. Thanks to you guys. I think they're going to do AI think they're going to do a rerun of the social farming that we saw before. My guess is they probably have like announcements and stuff to me because I think these guys
have marketed it really well. Yeah, it's worth and look, there's there's almost $10 billion staked on balance launch pool for this like the biggest ever, like $10 billion worth of BNB and whatever it is a FBT or whatever, so. What does it open? Where? Where? Where? Dude, what? I know I got faxed tweeting at me saying twenty $20 million trade. That's crazy. How do you think I feel? I love this. I remember meeting Mando after
he took the trades. The first time I met Mando was in London. He came to dinner with Danny and I. He's like, I just bought $1,000,000 worth of these apes. You guys think in age as well. Remember Danny Punk? Maxi being like? Don't be confused by our friendly demeanor. We're secret chads behind behind it All. Oh my God. I I'm like a I'm, I'm I'm getting there. You know what I mean? I'm getting there. But but I I you guys are definitely playing on on a level that I aspire to to reach for
sure. I think I'll get there. I I think I'm going to build my way there, so. What do you think? What do you think it is, OSF? 5 bucks, I think. I think it launches on the first day. I think it trades between 4:00 and 5:00. I think it launches between 4:00 and 5:00. OK, I'll say like 4.5. Let's say I I genuinely believe this just sounds completely dumb. But I genuinely and obviously like pumping bags and all that stuff. But. You're not pumping.
It NSA, it's. Literally trading in some weird pre market 15 like what the fuck is this I? Genuinely believe it's going to be, it's going to get to 10 in the first week of trading. I really believe that. Bitcoin went to 26 dollars. Guys like I think we we like this thing has to make sense here. It doesn't matter that nothing meet that does not need to be logic in any trade. Yeah, FTV is mean. There's no in this. You do not look at pause calling comparing this FTV to anything else.
That's the wrong way to look at it. It's just like how much FOMO and hype and all this stuff can be built around what they're doing is and how how many DJs there are that are just willing to like push it. Basically, that's what it is. It's going to trade that level, which will make zero sense. But you're not meant to like rationalize it. You know what I mean? They're not going to be like, Oh my God, it's at 10 and this is at this is at six, like this amazing.
Like that's not the point here. I think the point is it's going to go to some crazy level. Like I think wherever it comes, it will, it will 2X that in a week. That's that's basically what I think. Do you think it will come at like 4 or five? No, tell me that. I'm we have a. $50 million trade we haven't. Talked about internally, but I genuinely yeah, but like either it's vesting and you have to who knows where it's going to be in six months and all that kind of
stuff. But I'm just saying like in this first week because there's no the whole the whole reason why that can happen is because the full amount isn't vested, right. The circulating supplies may be quite low. So, you know, if it holds that level after the six, six month Cliff, then you know, wow, that's incredible. But. Danny's the fucking. Co host take from our with LSF Fernando where they're talking about making 20 million board a trade and another 20 million portal. Let's.
See where it comes. Happy for you, you know? Nice. Look, we'll see where that goes. But hey, daddy, is the futurist here? Oh yeah, I saw you put the tweet out. It's like this guy's got a some sort of weird fucking crystal ball he was born with, you know, from the gods, you know, when it came out of his mom's womb. And and he was, that's like his superpower here. So we'll see where it opens. Where do you think it opens at Mando?
This is the thing I just I I I thought it would be around 4:00, but then now like with the pre markets, I just don't know, like the market is raging. It's a Raging Bull market. Remember, it's the day where blast unlocks so you can take out your your blasts. EFF and trade. 2 billion people looking for new tokens. Fuck, I just. I don't even know. But like. Remember like when we set our expectations a few days ago? Bitcoin has literally moved from like 54 K to fucking 61K in that
time? You know what I mean? Like that's. True. Yeah, I'm going to throw. I'm at the period of the time. I'm at this period of this stage where like I'm going to have a little allocation to throw money in everything and like something's going to stick. And obviously that's up to everybody, to their own risk factors that have a very high, very, very, very high risk tolerance. I don't care. But we're gonna get back to a point where a lot of tokens are gonna launch and go to a hundred
250 mil. It was just like that last run, it was just everything was hitting 100 mil so. I just want to say look we all have exposure to blast here.
I I think it's going to go high but like please don't just randomly ape sorry sorry portal please don't just randomly ape portal because based on what we've said this thing is coming at multi billions of dollars of market cap like it's a really high level don't just go and buy it because like OSF things is going to go really I. Think we've been saying you
should buy it? No, no, but I just, I just want to make, I just want to make that clear like we've we've all, we've all invested in this thing at a very early stage at much lower valuations and we will make money but like that doesn't necessitate that you going out there and buying it on day one is a good trade. It may be a good trade. It may not be a good trade. I don't. Know. Wait for it. Just there's different. Yeah, I just want to like make
that clear. Yeah, for what it's worth, like like literally like always wait for dumps when there's like an AirDrop coming out, like there's always some initial dump and you'll see what what happens then. But anyways, I think it's, it's good. I mean they can't be more transparent than Mandaliti disclosing how much you've invested. So at this stage, it's like transparency. Is transparency over here going on? So that'll be interesting to watch. Do we know the launch time or no, it's just.
Yeah, 10:00 AM UTC. UTC. What's that? Universal time. What is universal time? 10:00 AM is it's early for you. It's 55 AM your time I. Think. Oh, it's your time. 10:00 AM my time, yeah. OK, OK, fine. Anyways, we'll see what that what happens with that.