Good morning, good morning GMGM. Everyone walked up fuck for another episode of Homo power. I know episode it is. I've lost track. We've done so so many. We got to get our tracker back on top of the street of today is Thursday, October 17th. It is another cooler Sunday morning here in Chicago. Today folks, we are in the 30s again, but back in the 60s and 70s later this week. Heating up by the weekend. Are memes heating up into the
weekend? Starting to see signs that a weekend run might be starting here today, folks. We're going to break that down. Plus, all the news on today's show. Farouk is busy out interviewing folks and galvanting around Paris. Mando is traveling today. He's not going to be able to join us, but we've got Logan Hitchcock on our editor in chief over at Lucky Trader, holding down the Fort. Logan, Jim, how you doing? Hey, good morning, Tyler. I'm doing well. Yeah, excited to chat all things
market. Glad to have you on board. Another busy day in Web 3 folks. We are going to keep today's show a bit tighter. 3540 minutes show a very concise update on everything happening in the market. So what are we talking about? Topics on today's list? We're going to talk Bitcoin falling a bit despite massive ETF inflows A16Z. They published their state of crypto calling 2024 the biggest year yet.
We'll go through their report. Vitalik continued his blog outline the future of Etherium. We've got some breaking news out of Jupiter. They launched ape Jupiter this morning as they lean deeper into meme coins. We've got this GOAT token Logan euphoric last night as as it goes on a mini orc run a few other old meme coins running it back. We've got big action on the Runes board, a huge day of digital drops.
I think four or five marquee artists doing drops yesterday and then we'll end the show with our weekly Arbitrum update here as well. Before we dive in, shout out to our partner Galaxis. With seamless built in monetization tools, Galaxis enables the development of sustainable long term communities, fulfilling bitcoins vision of decentralized freedom and independence from centralized control. Shout out to Galaxis as always, we love having them as our partner.
With that Logie, Are you ready for us to to start getting into some market? Check. Yeah, let's do it. I'm going to pull up the screen share here one second. I'll I'll do my best Mando impression and try to go around the horn here for a quick macro update. So at Bitcoin, crypto majors down about 1 to 2%. We got Bitcoin here at 66,800 ETH down one percent 2590 Solana down 2% at 151.
Solana continues to lag Bitcoin in this recent week of action, though if you look at the week, it's up about it, it's up in line pretty much in in step with Bitcoin. As for top movers on the day, it's pretty quiet, really not a whole lot of big movers in the top 100 crypto tokens. FTT, the FTX token actually was the number one alt mover and then Popcat starting to make a little bit of a run, but we'll
come back to that later. I think that might be a sign of what's going to happen here this weekend. I, I thought it was a little strange that Bitcoin was down given these ETF inflows. Folks, I don't know if you've been following these ETF inflows, they are massive. This week we are talking about $1.6 billion in ETF inflows in the past four business days. Also pending how today goes, we might be looking at a $2 billion week. I bet leading the way pretty much as always here with with
with the ETF flows. Perhaps a reason why why we're seeing Bitcoin dip like the dollar appears to to grind up. So some dollar strength here showing the DXY index. It's basically been up only since October started. So that that could perhaps be leading to some of the cell pressure. I think stocks read this morning as well As for macro news, not a whole lot on the board. I saw the the ECB cut interest rates by 1/4 percent, 25 bits.
So perhaps a sign of what is to come for the for the upcoming the next FOMC meeting happening in November. So that's something somewhat notable. As for the meme leaderboard and we'll do a deeper meme update perhaps later in the show. It was pretty much read across the board. I was actually looking through that the meme leaders across Solana ETH base, they're pretty much universally read here this morning.
Doge giving back some gains after yesterday with down Pepe down 4%. Popcap again the the primary out performer along with MOG. So perhaps some signs of life there in the broad list. You know, Logie, we typically talk more Web 3 headlines with you, perhaps a little bit more NFTS, Web 3 gaming type headlines, but you know, without Mando here, it's just us running the show. It kind of I'm curious, what's your take? We haven't really had a chance to hear from you.
Mando has shared his outlook basically feels like Bitcoin probably grinds up to close to previous all time highs into the election 70K range and then perhaps you know, springboards from there into Q4. Curious for your macro read? Like what? How are you thinking about Bitcoin here in Q 4/20/24? Yeah, I, I mean, a boring
response. I don't have any crazy opinions about what happens with Bitcoin. But, you know, I, I still do feel like I'm in line in terms of thinking in line with a lot of what the market is feeling and thinking. You know, still some uncertainty, though. Of course, the market's starting to perhaps price in more of a likelihood or a probability of a Trump election win, but still, you know, some uncertainty leading into that. And then perhaps some of the euphoria that comes out at the
other end. I was actually just looking at some of the Poly market boards as well, still like a 69% chance or I'm sorry, 69% probability according to the market that is that Bitcoin sees a new all time high in 2024. So I, I, I think I'm right there along alongside that. I think that feels like a pretty good number with what just over two months left in the year. I'm ready for all time high. Do you have a Bitcoin price target for this cycle?
Let's say, let's assume that a a bull cycle plays out along the lines of the four year kind of historical pattern we've seen. Do you have a number in mind? I mean, 100,000 just feels so psychologically important, right? It's yeah, it's just like that. That's the number that's been said for what such a long time. And of course there's so many other targets, the 250 thousands, the, you know, astronomical targets set by Sailor and others.
But I feel like 100,000 get me there and let's let's see what happens and see if we can broach that psychologically and and then, you know, maybe off to the races. A little conservative. So I'm I'm a little out past you there. So I think 100K generally is still my target for for the end of this year. I think it's doable kind of probably does depend a bit on the results of the election there. I think 150K is my target for Bitcoin. So I'm I'm still on where this goes.
That's the power law number from from the Kruger school thought is 150K. There's a, there's $1,000,000 in volume on a market at probably market. Will Bitcoin hit 250K in 2024? A $1,000,000 in volume, 3%, yes. So for those who want to extend out a bit further, you want to take a lottery ticket, There's there's things like that available. In 2025 or 2024? 2024 so 2 and a half 2 1/2 months to like 4X yeah, that feels feels a little wild, but yeah.
So maybe some free money on the know besides Bitcoin. I still I'm still a Solana bull. Solana kind of secretly quietly is trading it at market cap all time highs. OV always reminds us that in the group chat because of all the unlocks and there's a lot of unlocks coming in Q1. But it really does feel like Solana is the the L1 of the
cycle. I think Suey probably is next man up there and then Tao is really interesting in the AI space and we'll talk about some of those transaction that that's a good seg to this A16Z state of crypto report. If folks do care about this industry, I, I do encourage you all just to go through and and read this. It's a a pretty interesting read.
There's their summary of 2024, which they're calling the biggest year in crypto yet, and they've outlined their seven key takeaways, which are all data-driven and they've got some nice visuals and graphics here backing up all of these here. Let me see, I'll I'll try to go through them. So at a high level, the number one is that activity is at all time high and that they point to walled addresses.
I actually think this is a little bit murky just with all the bots and AI agents entering crypto. So I think we need to take that with a grain of salt. But hard to deny the growth here. And they're comparing it to the growth of the Internet and and showing how it's actually in line, if not slightly ahead. So that's their their starter take away.
They go on to talk about politics and how crypto has become a key political issue ahead of the US election and how much it's grown in some swing states. I don't think that's a surprise to anyone. But, you know, taking a look back on this year from the outside, that certainly is a really important theme and perhaps one that we didn't see coming. The increased politicalization of crypto stablecoins.
I mean, stablecoins is a boring topic, but it really does feel like perhaps the biggest take away of the year is the increasing globalization, the increasing rise in usage, adoption everywhere. More and more big players are getting into this game and it feels like stablecoins have certainly found a massive product market fit here in crypto. A few others kind of going through the rest of the list infrastructure improvements.
I think that's kind of par for the course with with as much focus on infrastructure as as we have, you know, I think it'd be more surprising if we're not having, you know, yearly growth there. Defy remaining popular. I think for folks who are in the the crypto streets, you know, being able to do things with it earned yield. Linda guess it that that's never going to go away. So I think defy a core pillar of crypto at this point. AI is an interesting new one on their list.
Crypto could solve some of a is most pressing challenges. They're talking a bit about the intersection here and perhaps we'll we'll get into that and then more scalable infra as they look to create more on chain applications. This gets a little bit more into that consumer crypto buzzword that so many of us have been talking about. So that that's a quick rundown of this. We'll go into more detail about Logan, Curious for any reactions you have. Or perhaps you know, Part 2 of
that question. What should you which of these 7 takeaways do you feel like is the the most important? Yeah, a few high level from my perspective, the activity and usage at all time highs, you know, of course the number one take away here, just seeing that alongside the Internet growth, you know, which I wasn't, you know, paying attention. Of course, I was a very small child, wasn't paying attention to the growth of the Internet and wasn't around to understand
that. So it's difficult for me to fathom that this industry that we're participating in every single day is actually growing as fast as it is. And then secondly, you know, you mentioned the some murkiness right in the numbers and A16Z does a great job of explaining exactly that there. You know, there is some, some conflict and how they come and, and arrive to this number, but
they do break it down. There's actually a a separate article that breaks down the, the address growth and stuff, but 220 million, even when you get down to the 30 to 60 million, which they believe are real people making those monthly transactions. That just seems wild to me, right? Like I, that seemed high and you know, I hope it's as accurate as it could possibly be, right,
with all those caveats in there. But that gives me some cautious optimism, you know, about how many people are actually interacting here, how big this market actually is, even though from time to time or maybe every day, right, it feels so small, like this is a much bigger deal than we actually think it is. So I think those are some of the takeaways for me that just kind of, you know, reaffirm why we're here, why we're making the bets that we're making. Make you feel a little bit
better. Some confirmation bias, if you will. I'm reminded a lot of how small our crypto Twitter bubble is compared to all of crypto. I think conferences are always a good reminder of that. Like Bitcoin Nashville boots on the ground there, I'd say just, you know, finger in the air swag estimate less than 5% of those folks are are probably like showing up and and interacting in what we consider crypto Twitter on a daily basis, let alone all the folks who are employed in this industry.
So I I would agree with you there. I guess Logan any like any worrisome takeaways or or any perhaps you know negative takes on any of these 7? Yeah, interesting. I, I read this with such a, a, a hopium that I, I probably didn't have any immediate worrisome stuff. I guess one of the things particularly for us is if you Scroll down into, yeah, of
course the, the political stuff. But if you Scroll down into like the builder activity and, and the types of categories people are building in saw a decline in some of the NFT infrastructure. I mean, that's where I grew up in this, in this ecosystem, right? I kind of came through the NFT stuff. Yeah. And that that 4.4% actually I think is a decrease year over
year. So some of those things, you know, like I don't want necessarily want to say worrisome in the sense that like I, I'm concerned about the future of NFTS. You see 8 1/2 percent of builder activity last year, 4.4% this year. But that that is something that, you know, a technology and an interest for myself. And I'm perhaps many of those watching this show that seeing a a little bit less builder activity and interest and innovation in.
So that's something that's a a little worrisome, not necessarily for the full state of crypto, but just for, you know, my particular interests and perhaps the interests of the demographic that's consuming this type of content. But otherwise, Tyler, yeah, I read this with a a lot of opium.
The, the political stuff is always there as a, as a worrisome thing just because the, the more that it is in focus, you know, I think we're expecting and hoping for more clarity and, and, you know, just more regulatory frameworks so that it can continue to exist and thrive and grow. But of course, there's always that like in the back of your head, you know, that that regulatory stuff could also
hinder growth. And there's some some demographic data in here as well that showcases that the United States is such a massive player here that, you know, you need that regulatory stuff to be at least neutral, you know, for, for growth. I I'm with you there and thank you. You point out this, this builder desperate. I actually had missed this. So folks, I definitely encourage you to check this out.
There's some really cool visuals here in this builder energy.a16crypto.com As for the the yeah, the political take away was my more worrisome, but I've shared my thoughts on that. We don't need to repeat it. I want to talk about a few takeaways from this dashboard, because this thing is. Is awesome. Sweet. So starting with builder interest by blockchain, I think what jumps out to me here is just the Ethereum dominance.
So it's ETH and then ETH al twos are what 8080% of the of what's of what builders are focused on right now with Solana at 11 and Bitcoin at four. One thing that doesn't talk about about Solana, if you talk of the years, Solana was just 5% last year. So it has more than doubled in builder interest on the year, which is notable and I wouldn't be surprised to see that circle grow into next year.
I will say what people are building was perhaps a little disappointing, I guess not a surprise though, right. So D5 a quarter, 25% infra and 19%, but actually infra picks and shovels, wallets gets you closer to 40%. NFTS are down Depend at 6%, what was depend last year, that's got to be up quite a bit more. So let's talk about 6%. Any takeaways from you on the category? I know you kind of went into this all year within a.
Yeah, category stuff. I had the same sort of take away, Tyler, you know, as somebody who's using some more of the, the consumer focused stuff, the NFT type stuff that is a little not, not concerning, but it's just, you know, you know, I wish, I want to see more builder activity in some of those more socially focused consumer focused things. And perhaps that's next year's right.
You have things like abstract and many others that are really, really trying to focus on consumers and actual use cases beyond the the hyper financialized stuff. So that was one thing. The the above though, the blockchain stuff, the builder energy, of course, this is being built. This data is A16Z indicates this is proprietary data, right? They're using their connections to the space, their investment in the space to drive this
information. And of course, you know, we know they're leading all the biggest phrases. Who better to show us where the future is going to be at least built in the near term? And so this, this was awesome to me to see Salon as growth. Of course, that corresponds to our activity every single day on the chain, right? Like that is where things are happening most, or at least that's where it feels things are happening most.
So no, no shock to see it there. But I think this might be, you know, if you're someone out there who's looking to participate in different ways, you know, you think there's a massive bowl that's going to extend beyond chains into a really robust, you know, just macro crypto bull run. Take a look at some of these that are getting in that 456 percent. They may be your 1012% next year. Yeah, AVAX was one that was off
the top of my head. It was like, OK, you know, we've talked about them arbitrum, of course base, like those types of things that have grown year over year. You know, they may be the winners next year and you could, you know, maybe not have the same multiple of of hey, if you were at the $8 Solana into the 150 sixty whatever dollar Solana. But you know, maybe you're in the ground floor of an ecosystem that's about to double or triple
over the next year. And there's some there's some probably real opportunity in those. So that was really exciting to me to see this. This is really really cool data and information to be able to just play with. I'm with you I, I was surprised not to see Sui on this map. So we're curious if Sui will be on there as like the next man up. My last take away, they have a nice geographical map here. So 40% of builders are in the US.
So there's a lot of rhetoric out there, you know, saying how hard it is for builders in the US and clearly it's still a substantial component. So good data go check this out if you haven't already. That's going to sum up our. Macro update let's go down the the risk curve a little bit let's start talking memes so I think the breaking news here this morning is Jupiter has officially introduced AP Jupiter
as its meme coin terminal. I think it's AP dot Pro is the address real time streaming of new tokens, advanced data and charts, optimized Med protection. It it looks like I mean, Jupiter is is kind of going to be the whole universe one stop shop, right? You're not going to even need to use that many of the other apps. You're going to be able to do everything in Jupiter.
They have the new mobile app. We we showed the integration where you can just kind of click their their logo now on different sites and and start to trade right in there. So clearly they're they're leaning in. So so shout out to to Jupiter. I'm excited to try to test this out. Didn't have really a chance before the show. As for that the meme coin board, I guess we can start with go it it it is the the biggest story
in memes. Last night before I was getting ready for bed this thing hit 360 million. I'm seeing what 375,000,000 at peak did. Did you chip any off there low gear or are you holding from the room? I should have probably chipped some off. I did not. No, I was watching some playoff baseball last night. The WNBA game was excellent as well last night. But yeah, you know, I'm feeling I mentioned on the show yesterday I sold about half my bag at around 125 million, which
of course looks very silly now. And this, this last bit, you know, I'm kind of bought into this narrative, so I'm OK withholding. I said, you know, a billion Billy goat, right? That type of thing feels. And I don't want to say program nothing is financial advice here, of course, but that's the kind of the target that I've got in the back of my head right now. So I did not chip any off last night.
Yeah, and, and rightfully so. I mean, all the dips on this thing are just getting eaten so. Fast. It's, it's wild, yeah. I mean it, it got down to 200 at some point yesterday, maybe a little bit below and then, you know, in 1520 minutes you look back up and it's 275-280-5300 these. Candles are absurd. And then Arkham Intel picked it up yesterday even though they didn't really have their facts straight. People have been flooding. It doesn't really seem to
matter. I think that this this thing is, is bigger than the FUD at this point. You know, we'll see now it's in the it's basically gotten to where Mudang got at peak. We'll see if it's able to to get past 400. I think that's going to be a key level. We we saw some other runners. So Wyack out of nowhere, arguably that the biggest winner of the day at 270%. I haven't personally dug into this. I have a buddy who's been
tracking this closely. It looks like a couple wallets, perhaps even the same person, shoved 1.5 million into this thing. So. So they are a big driver of this absurd candle that you see here on the day. So I'm happy to learn a little bit more about their intentions. This this should be at all time high. I think you're supposed to this. Yeah. Yeah. Back when we had when we had the woman on the show, that was back in, yeah, summertime, early summer, right around when it
peaked. And then, of course, you know, several memes had the same chart. It started to rally up back to 510 and I had some friends get back in. I never got back in on this, much to my chagrin. So this thing is wow, this thing, How high did it Wick? Oh my goodness, I didn't even see. The Wick I never owned. This one Wick to 60. Wow, So so quite the Wick to fill there for Wyack. Shout out to those who who held through the the downturn. Going across the rest of the
board. We'll take a look at the Maraud board. It looks like it's starting to flip green here. So we, we, we love to see that almost universally green. My one of my core thesis is that the moron list might, might trade like the old art blocks curated where we see the pull backs Monday to Wednesday run into the weekend Thursday to Sunday. Perhaps we are starting to see that it's going to depend on Popcat and I think it's largely going to depend on some of the
mean majors as well. Like I think we need with to run for Popcat to really move up to 1.5. If Popcat goes to 1.5, I think we see some big movements across the board. Did you, did you catch the Rasmer investigation research thing yesterday? Did you catch that? The the boots on the ground pulling everyone with the. Yeah, 293 people or something. I didn't watch the entire video. I saw that MU Dang was like the, I think the winner, but I saw some of the takeaways that he
had shared afterwards. And Full disclosure, I did not watch the video, so I can't be certain he wasn't trolling or something. But I saw some mention of USA Coin being, yeah, like being highlighted a couple times by that's one that I can totally understand. You know, it falls right into that like Zen level category for me where like, I understand the potential, you know, the word cult's being used a lot here recently. I understand the potential cultishness behind.
That's probably not a word behind like AUSA coin. That one makes a lot of sense to me. Again, never owned it. I do own some Zen, but I I get that one, some of these other ones on the list. I mean, it's just I'm not fighting Maraud at all. I loved his performance on the show last week. He seems like a crazy evil genius. Not evil, but, you know, crazy genius.
Hopefully not evil. Yeah, hopefully not evil, but yeah, that's the one of this list which I actually don't own any of at this point in time, which feels very silly, right, To not own. It yes, the American one rotate. Some of the. Log get some. It's something on the list. I've loved Mog for a long time. You know, we talked about it around 250 million maybe even before and I mentioned that that would be the one that I would buy and I just never bought it. I did have AI had a Popcap bag
that I eventually sold off. Same. For a nice mini such. Tails, thank you. Thank you for for calling out USA. It is one of my larger bags. I have to disclose that my thesis is that all the the Polyphi, all the single political coins are going to go away. But USA people still love USA and it's on the Maraud list. It was the lowest. I think my house is because it's not going to, it's not going to remain the the lowest.
A Trump, a Trump victory, which it seems increasingly likely feels like such a great catalyst for AUSA coin, right? And of course, there's the MAGA stuff. But like, everybody, you know, MAGA has like, people don't like that. Some people don't like that, you know, like half the country doesn't really like that. The country likes USA. It can get behind USA. You imagine if we have a, a New York, NY World Series. I mean, there's so many things coming up USA.
But there really are great, great reference there. A couple other things. USA is still far off all time highs from the big polyfi rage and then unit bias. A lot of the hot coins are now close to like $0.10 or at a dollar like Popcat. This is one where you can pick up, you know, a billion tokens and then just what if it goes to a dollar type thing, which you can't a whole lot of other coins on the list. So enough of my bag pumping here. Circle was another one kind of
came out of nowhere. I thought circle was dead. I think you picked this up at at a million. It went back to 15 or so. So it's still a lot. Any reason why this thing is pumping? I couldn't tell you why it's pumping. I had been seeing it on my timeline for I don't know why, but it just like kept showing up and then I probably like interacted with a post or something and then I just kept
getting fed more circle stuff. I think what upon the people every day that ran to like 13 or 14,000,000 maybe overnight. And when I refreshed and looked at it for the first time, I didn't purchase on the initial run up, it was at like 1,000,000. It retraced nearly all the way. Yeah. And you know, I don't know why, Tyler. I just kept seeing it and I was like 1,000,000. I'm going to take a small bet
here. Perhaps the the influx of art on on shape and we'll we'll we'll come back to that here in a second, but shape has still had a flurry of activity. So shout out to circle holders. Nice little comeback for you. Some actually on the rooms board as well. I got quickly hit this so billion dollar cat was a top story yesterday. It hit 100 million in a new all time high. It's hanging out at 92 right now. Red cat Romeo was a big mover. Apparently that is the cat of a magic Eden founder.
So any pet tied to any founder is going to have some kind of a pump. So that was moving last night 10 Bitcoin volume, nothing to sneeze at and then puka was the the big mover last night. This thing was had 600 pending transactions at 1.25 Bitcoin volume. So clearly the number one mover. It's up to the $3,000,000 market cap. I've seen mixed stories. So I think this is tied to OMB. Perhaps ZK's dog, another weird pet tie in. I think it was a gas war to mint
this. So as I understand, people who are minting this runes were minting it at close to a 2 or $3,000,000 market cap. At least some of them were. So this is going to be perhaps a new one to watch. Gizmo at 16,000,000. I think the the wild card for Gizmo is that ornals met later today. So we will see how that potentially impacts the runes interestingly. So RSIRSIC growing up a bit dog hanging out at 550 million. So it's really up there. Pups has had a rough week here, down 10% at 1:30.
So we will see if and when that starts to turn around. Well, we we talked about what might be pumping circle and it was a big day in art across the board. So switching over to NFTS and digital art, 45 major artists had dropped yesterday. So Gremplin did this ticker treat drop on base, did 50,000 mints on on this thing. So, so quite a lot of demand though it was it was pretty much free .000666 E. We also saw OX death beat. He had to shut down his movable type net.
Over 100,000 of these were minted on on shape. So perhaps this was what what drove some of the action over on shape. We had our blocks curated back with their first new fidgetal drop from MP cause Boca where you you can get these lamps, sculptures, lighting, digital works and they come along with the digital NFT as well. This was just the 1st 20. There will be a a 300 piece sale on the 21st. I think that is Monday.
And then rounding this out, we saw die with the most likes sell his noble pep base card at point O69 ETH in a gas war and that immediately ran to .469 Logan. Curious to any reactions on your side on the art drops. What perhaps what was your favorite or or surprise of the day? Oh, favorite. I love deaf beef, the work that he does, the innovation. So that that's a really cool 1.
I actually did not participate. I don't really know why I didn't participate, but I I think that was a really cool one. Lots of innovation in the in the work that he does, but gremlin, it's tough not to love gremlin in the style that Gremlin does. Those are really, really great. Shout out toads a relic at this point. So, so cool to see Gremlin back in in the streets. It was, it was just a good positive day of art, you know, So that's, that's awesome to see. Quickly, do you?
There's been a lot of talk about meme meme and a tease and cults. Do you feel like Kryptodes are still a cult meme memes? Do you feel like they are perhaps going to catch some love in this rally? I don't know sleeping potential giant. I think the, you know, this is the you would you always show that the little roller coaster bigger loop, smaller, loop smaller. I think the loop potential is smaller for toads than it once was, but there there's still something in there.
Yeah, there's still something in there. Sad. Well, shout out to to Gremplin. Perhaps he will kick start a toads run later today just to prove Logan wrong. That's going to be a a quick round up of the market. We kept it tight today like I promised, but we need to get into Arbitrum though. Arbitrum folks once again has been cooking just to start at a
high level. AJ Warner here shared their new partnerships from 2024. Robin Hood, Paxos, Franklin Templeton, then in games, Ubisoft, Apecoin, Uzuki, Senko. And this is about as big as it gets, right? I mean, there's some major, major names. They've launched nearly 100 orbit chains. We also saw the the orbit Arbitrum orbit road map here, everything that they are focused on from custom ability, decentralization, Dev X interop and and performance.
So clearly orbit laying the groundwork for so many chains, so many builders and they continue to iterate on their product. And then they've they've got some action on the D Gen. side. So their their meme coin platform Gu trade that's getting close 95% of the way there. And then noteworthy this week is Apefest is coming and Ape Chain is powered by Arbitrum Orbit. I know they're going to have a MIT with the their BMWM driver's licenses.
Plus, I'm sure there's a lot of surprises in store for Ape Fest this weekend. Logie, I know you, you dug into this a bit, kind of what jumped out to you. What were some of your takeaways from what Arbitrum's got going here this week? Yeah, so the Ape Fest stuff is awesome. I think Ape Chain is a sleeping giant. You have the banana bill like there. There's a lot I'm excited to see. What types of apps and just consumer opportunities exist? So really excited for this.
Also too, though, the the orbit chains to Segway back to the state of crypto. You may have noticed that if you dig a little bit deeper, there's mention of proof of play and just the the growth and infrastructure scaling of Arbitrum orbit. Proof of play, I think is like the top three of four in terms of what's listed on that state of crypto from A16Z. So just an incredible growth, incredible new innovation and scaling for some of these
massive, massive games. So shout out proof of play and and Arbitrum leading the way there. It'll be really cool to see what other things come as a result of that innovation now that you can actually get so many people playing these games without the scaling issues that have previously existed. Yeah. No, it's they continue to power so much of the ecosystem. And if we take a look back at arbitrage, I mean, it's yeah, it's 6% of the builders and that doesn't even factor in all the
orbit chains. So so clearly a significant part 4. Four of the top five, I just pulled it up on second screen here. Four of the top five are arbitrage settlements for those the gaming and the TPS, the M gas per second. So leading the way in terms of scaling and and opportunity for for growth there. In Robin Hood, this Robin Hood
app is going to be 1 to watch. I think a headline that we saw yesterday was future trading on Bitcoin, Bitcoin futures, so similar to like your options type trading. I think that's going to be an interesting one. We saw Paxos and their stable coin and then Franklin Templeton, of course, doing so much and then Ubisoft launching several web three games. It seems like they've got in the the cooker. So a lot more to come. It's already been a a big year, but a lot to look forward to
certainly with them. All right folks, I think that is going to be it. We promise you 35 to 40 minutes a a tight show. We delivered it. Once again, I want to shout out to our listeners for tuning in to today's FOMO hour. That will be it. We will be back tomorrow breaking down all of today's action. Maybe a special guest tomorrow. We'll see. We're working on it +2 robot spins for our Friday show. As for today, go have a great Thursday. Go make it a beautiful day. Goodbye.