we can play the music now.
Oh, God. What's going on?
With you, RFS, it's not me,
play the music now, Jazz.
Let's see some thumbs up in the audience, I'm pretty sure everyone can hear us.
OSF is having technical difficulties it seems.
It's just me and him again, Faroq is too busy with meetings in Paris Fashion Week I think.
I think that's where he is right, he's at some sort of fashion conference, I can only
imagine how French and fashionable he's being at that conference.
Myself and OSF are less fashionable and less French, we are still here, we will be in France
tomorrow, Paris, are you looking forward to the event Ovi?
Yeah, I mean I feel like I do all right at these events, you are often found in the back
corner of the back room hiding behind some sort of a curtain.
You ready for 400 people, essentially all coming to say hello to you?
It's weird because I don't think I'm not a people person, like I've got loads of mates
and I was like having a lot of fun for that.
Yeah, I've got loads of mates, but I think when you do your own events and every single
interaction of someone saying, oh can I get my friends in, can I get this in, can I get
this person in, I'm just like for fuck sake, all I want to do is have a fucking beer and
have a bit of a laugh with someone, not just be like bombarded with like can I get my mate
in, can I get my mate in.
So that's the part I'm dreading, I'm probably just going to like turn my phone off and if
anyone asks me that question I'll just stare them blankly in the face.
Yeah, to be fair, this is actually a public announcement to anyone willing to contact
myself or OSF for the next 48 hours.
My phone will be off from tomorrow, OSF I'm sure will do something similar.
It just gets too nuts, these sort of events, we love you all, but yeah, otherwise we just
get attacked for whatever we do.
We've sent out tons of tweets with all the event details, how you can get tickets, there's
still 53 tickets that you can claim, just look at my tweets, look at the rectoring tweets,
do not hassle me because you didn't, you were too lazy to make yeses beforehand, yeah,
So in Paris last time OSF was literally in the back corner of the room and then in New
York I found him behind a curtain, like literally behind a curtain, I just found him sat down,
not shivering but definitely not looking, I was probably the worst I think I've seen
I've never had a panic attack before but that's probably the closest I've had.
Are there any more wristbands through VIP?
Fuck, yeah, that was a toughie.
Anyway we are both looking forward, we will see you guys all there, the drinks have arrived
in Paris I believe, right?
The drinks have landed in Paris, yeah, they're there.
In the city of love, okay cool, let's get into what's been going on in the market.
We don't have any sponsors today, right?
Are we doing anything today Jaz, do we know?
Nothing today, we're gonna roll it over.
We're gonna roll it over, okay, roll, it's a roll over people, we've got a double roll
Wow, our listeners just dropped by 50%.
Yeah, sorry about that guys, you have to listen to us.
Anyway what's been going on?
What's been going on in the market?
It's a little bit spicy out there.
Yeah I mean it's never gonna be up only but stocks have been a bit weak in the last two
We have Nvidia today I think after the market phase so that's gonna be a big one but yeah
it just feels a bit risk off and then the ETF info number we had yesterday was a bit
lower than the last few days and we're seeing some crypto, I mean we're seeing crypto weakness
but like Bitcoin's still at 51.3k, ETH is at 2920, ETH is still basically at like it's
18 month highs and the timeline feels like it's in shambles and to me that just says
that people are actually massively underexposed to Bitcoin and ETH and are overexposed to
alt basically everyone wants, everyone is chasing the beta trade and CT trying to you
know make their multiples on altcoins and no one owns the things that are actually rallying
which really seems to be ETH right now to be honest with you.
Yeah that's exactly it, that's what it was, that's what it's been like for a while I think
when ETH did this move from what 2500 to 3000 it felt as though people wanted to fade
that move maybe at the start or wouldn't trust it because ETH often meant that if ETH rallied
the rest of the market sold off then it kept going and then everyone assumed it would be
an alt market, an alt rally and we never really had that so really just ETH is outperformed.
It really has outperformed versus most alts Solana, Soli was like trading at support today
I actually got back into Solana levered trade just before we went on to the show that's
why I was a little bit late but I that hit like 102, 103 area, 102, 101 even area on
Solana so I just kind of felt like you know you're not going to buy it now when are you
going to buy it but it does feel as though everyone's still underexposed to ETH here.
That figure I think is a big deal so this isn't just a normal sell-off it's because
the ETF had a particularly not particularly quiet day like we're talking about 100 plus
million of inflows but that's a little bit precarious after days and days of 300 to 500
to 600 even million inflows to get a hundred and what 30 million day that suddenly changes
the trajectory slightly would I mean it's very very difficult to predict but what do
It's two things like one thing is maybe the flows have slowed down the other thing I think
you have to factor in is it is the Monday after a holiday weekend Tuesday after a holiday
weekend in the US so naturally I think it's always going to be a quieter day for the markets
like if you think about the day after a bank holiday they're still pretty quiet lots of
people still on holiday right so my hope and then maybe this is a bit of a hope is that
we see that number the info numbers start to pick up again because more people will
be back into the market and focus on that kind of stuff but the risk is that you know
it's not always going to be up only and we are going to get slower periods and the risk
is that maybe we're entering a slower period here but my hunch is that we see a bigger
number today than we saw yesterday because it's going to be busier yeah I think I think
it's probably better both I mean we know that from being in the markets right it's those
days after you come back often people are taking the week off or it's just been a quiet
period so maybe maybe we'll see what those info numbers feel like today's the big day
right because people should be back today they took a they took Monday off or something
like that but it'd be good to see that kind of go back up to 300 or 500 million and then
I think we can keep on going this has been a nice little shakeout if it's low though
you know hate to say it but it's a long way down isn't it you got had a go at me today
in the chat for having saying something to that effect or those classic guys post like
the all-time all-time bitcoin chart it's a long way down from here everywhere zoomed
out to seem that a little bit mate just took some perspective so to speak but yeah I think
eth looked the most precarious to me on that move if it does slow down just because so much
of the eth rally is around the ETF so if that starts to slow again I think eth is basically
a levered ETF trade in my eyes right now like whatever the ETF inflows are that's your that's
levered eth as the move so that slows down I think the eth move slows down but I just like
salana just because it had been beaten up so much so I did go more long I had taken off some
positions last night but this morning I felt as though it was time to get back in just before we
went just before we went live hopefully we get a little bounce be nice to see a little bounce
back up to 110 area on salana and maybe bitcoin eth hang out but alts really did not trade well
right like meme coins down 10 to 20 percent most altcoins down still five to 10 percent on the day
and they were they had a bad day yesterday as well so definitely not a good 48 hours for altcoins
you've only really been saved if you've been in in bitcoin or reese it seems
in terms of other stuff going on going on in the market right now I guess we had the
yesterday obviously we had the big airdrop from stark net that's kind of trading looks like it
settled slightly lower now it's down about 15 million 15 billion ftv you had portal announced
they're going to do that airdrop that's going to be a binance launch padcoin that's now trading
2 billion ftv and you had op optimism did their airdrop I saw you posted that you got a little bit
of that little bit of that airdrop yeah in fact that if you're in the audience if you're in aft
you should check this so optimism yeah you won't you go through it it's just a creator airdrop so
if you minted something I think it's between the first of January 2023 if you missed something
within basically the last 13 months but ending in January 24 I think you can get an airdrop and
then there are various things that multiply it like if you minted something on op or all this
kind of stuff but you should check it if you're someone who's like an artist and you've created
the nfts on ethereum they've given out they've actually given out a ton of money they've given
out a lot and they're meaningful airdrops I think yeah it's about it's quite 40 million yeah do
40 million of optimism and it's mainly I think a lot of it will go to people who were artists or
in the nft space because a lot of them those are the sort of people who are deploying contracts
right yes yeah so it feels like a little bit of a of an nft airdrop so definitely go check that out
um and we saw uh I guess some of the other stuff that was that was happening uh yesterday was the
big one in aft was was uh what was going on with pudgy penguins so did you see this tweet out by
maybe I'll share my screen get back into uh share my screen but you see the the walmart actually
tweeted out about pudgy penguins I thought it was kind of wild um but definitely quite a big deal
for them to be uh to be uh stocking pudgy toys I think they came out can you see my screen no
hold on maybe you can share yours share screen
there we go um yeah they they tweeted out that they are reordering the pudgy toys and they did
it from their main account so this just got 3.1k likes but what do you think of that
whoa oh it's uh it's amazing to see um a web3 native band you know getting tweeted by walmart
and I know they've already had the stuff at walmart etc but yeah it's pretty amazing it's wild right
like um it's I think they've expanded it and they've all so it's now available in 3100 stores
across the u.s incredible right and um I don't I think they said how many more toys they were
getting but yeah definitely definitely um a huge huge uh congrats to Luca there um he's just been
absolutely smashing it did they did they flip apes let me have a look I don't I still don't think they
have they went slightly below them yeah no they're still hanging out slightly below but
uh if they still keep on delivering stuff like that that's going to be that's going to be fairly
wild and we also saw this was the other one sappy seals so sappy seals did like a 2x of the last
seven days um we were speaking about that yesterday right and then they went up another 40
there is I think wab put out a thing yesterday kind of denying there were some rumors that there
was going to be some form of a uh I think all these random accusations and claims are a result
of extreme information asymmetry between the actual core seal community outsizes
they're basically there's claims that they're done around or something like that um seals going up
it must be inside trading he's taking the piss out of it so uh he's and he said that these rooms are
obviously false what do you thought they did um they have a token right pixel and yeah they
at the end of december they announced that the staking emissions would end at the end of q1
and the the supply would be limited to 500 billion tokens so i i assumed that's what it
was i assumed that um that coming to an end was the reason why they're rallying but maybe i could
be wrong i don't know no i i think i think the maybe so inside is trading lol people get
just people just getting you know after the whole moonboats thing people will obviously
drive front-run stuff and do you think pudgy penguins could buy sappy seals
that's a good question because they they're kind of in the similar kind of um world if you like you
know cold animal weather animals animal species yeah uh like they're cold weather animals and
they look similar yeah they look very similar yeah um i think it'd happen right it would be
it would be pretty it would be pretty obvious things would do that i don't know what the benefit
to pudgy penguins would be doing that but you know i guess they they would be the companion
the companion piece you don't you don't see you don't see seals being sold alongside penguins
that just feels like it could work i just think why would why would pudgy penguins not create their
own new nft and do a min and probably make loads of money and expand their ecosystem that way like
why do they need to buy another nft project yeah sappy seals was an ecosystem you know like proof
has a ton of holders right and it's a big big ecosystem there is some user acquisition there
but sappy seals have one nft project probably with about 4 000 holders you're not really
going to know it's a good point much there these one of the uga acquisitions have been slightly
different and like they add something rather than they're not similar acquisitions right
like they bought punks which is a very different sort of collection to
bought apes and they've gone and bought proof which is a very different collection to the
the the previous two so yeah maybe they don't need to it's quite easy to create a companion to
to pudgy penguins themselves but still it's awesome to see obviously that's a great community
you see them everywhere and they've been building throughout the bay i think everyone was bullish
on them for a long long time so up to 5k now basically for a for a seal looks like five
thousand dollars for a seal um and then moonbirds actually still post that acquisition of when to
continue to rise actually um now i don't know but remember moonbirds there was some speculation that
they would do a token in the past um and then kevin rose basically said no right he was like oh
it's not in the current viewpoint um but then maybe maybe this whole acquisition puts that back
into the into the spotlight like maybe a 16 g um feel comfortable that they could do something
like that what do you think with regard to moonbirds token yeah i mean that was the rumor yesterday
and there was like a fake screenshot that went around it would make sense if you think about it
like it's a monetization angle for vcs because you can give yourself a token and then exit
some of your investment that way and um you know that would i'm sure proof is always planning a token
um there are there are rumors about it for a long time it never actually materialized but
given the nature of a 16 c investments um they tend to be in things with tokens and that's how
many vcs like monetized investments so i wouldn't be surprised if a token is still in the cards
it's probably a token that maybe does well because it will have a lot of attention to begin with and
we'll see if they ever actually add any utility to it but there's a token that i think would
complicate the ug ecosystem and people start wondering where the value falls again it's like
at least with apricorn you have just apricorn then you have all the other stuff but now it's
like do you have apricorn do you have something else and how does that all fit to other side and
apricorn was sneaky pumping this week actually i wonder what it's done today with with all the
weakness but yeah it's definitely it has had a bit of a rally since the moonbirds acquisition
um you know that's it was trading it yeah just uh even at the start of this
start of this um year it was trading just just shy of one and now it's a 1.7 roughly so
no maybe there is some speculation there that they're they're about to do something um obviously
that's of course been beaten up a lot but uh in the host this whole gaming rally people like ip
so maybe that's an easy play um speaking about that in in the gaming space we saw i guess a few
different uh different headlines i already touched upon um portal uh you had xai i think you were
going to come through and say they're going to partner with layer zero i think xai as far as i
tell this keeps on going higher like um it's kind of wild yeah up again today uh xai close to hitting
all-time highs 3.3 billion now on uh on xi coin so shout out sobi um layer zero i think would be
quite a big deal for them obviously allows them to go multi-chain um with some of the games that
they're gonna they're gonna on board that's definitely been a big win for for people in
the gaming space um recently we saw mad lads mad lads said they can do an ordinals collection
um a lot of lot of stuff going on there with mad lads at the moment they've obviously got
backpack um the team behind it i've got an exchange going which i believe is going to
go live in a bunch of different u.s states as well and that's doing over a billion dollars
in volume a day at the moment but yeah they uh they look like they're going to do an ordinals
collection as well um those mad lads now like mad lads has got to be one of the i think they
flipped the market cap of of mutants the other day they're now 20k 20k for a mad lad um so they
yeah definitely definitely in the top um top band of uh profile picture projects now
uh at least the main ones um and if they go to ordinals we've obviously seen d gods do something
similar and that project uh the d gods on bitcoin actually had a bit of a rally last week but it's
uh people still like the ordinals so i think this is quite a smart play um to to kind of go
multi-chain so we uh we've seen that in the uh in the salana ecosystem salana other than that
like we we spoke about it today like it's kind of lost lost a little bit of the narrative about
things going on at the moment maybe maybe we should speak about that for a minute like it
there is a reason it's been underperforming and i think that's mainly just because
yeah it's just like everyone's focused on things like blast right now and and and the ETF and and
some of the stuff there is it's been definitely quieter um yeah it's like uh
it's it still feels like the market is not big enough uh multiple narratives to hold like
capital seems to want to flee from one place to another to another to another and we had salon
you know everyone's like salon is great like this is the casino i mean we're all saying as well
this is the casino this is all the detail and activities happening this is what all the shit
coins are doing it's really cheap to use great great great and then you have a big airdrop
and someone you know everyone starts looking at that again you know suddenly you know just only
a few weeks ago salana felt like this hottest craziest thing and now it feels like a lot of
activity has shifted away from it back towards eath and back towards eath beta and you've had
these big airdrops in optimism and other stuff and you have blast coming up and that's just where
money wants to go because it's interesting that it's not actually being shown in the numbers though
i just brought this up like salana tvl just broke two two billion which again just keeps on going
higher the volumes on the chain yeah they spiked the Jupiter but it's not been that big a drop off
right like this is still a very high volume period it just feels as though there are other
it's not like it's doing badly it's just that there are other this is other focus right now
rather than um and i guess timeline governs governs price just as much as like these numbers do
i definitely have not seen people talking about salon as much on the on the timeline other than
don't get on the fact that it's under performed eath uh since the start of the year yeah i think um
look i think um there's a difference between tvl and volumes versus just like the timeline
and i think the timeline is you know for a while the time is all about salana shit coins and
now all those most of those are down 80 or 90 and the timeline is just quiet about them now
now the timeline is all talking about blast and timeline that doesn't always correspond with tvl
and activity and volumes because a lot of those volumes come from larger whales
or institutions who aren't they're sitting there laughing on ct all day so there's a mismatch
between that but i think you know i think the ct aspect does have an impact on prices at the
end of the day because it's where a lot of retail get their information from and it's where they
you know data points they use to decide where they want to to be in but yeah it's kind of um
it's a weird one i think uh i think it will come back i do think salana will come back because i
think it's kind of wild look 2024 returns so far bitcoin 24 percent higher e 33 percent higher
salana down three percent it's been a it's been a really remarkable underperformance from uh from
salana versus east um over the course of the last month i think we timed that one well in terms of
this show like the majority of that uh our performance has happened over the last over the
last um a couple of weeks but it does uh it's definitely getting to a stage now uh i think even
with but like you're starting to see that that's been such a remarkable underperformance over the
last month that this starts to now hit resistance around this sort of area on on solid and and
maybe you start to see a bit of a return maybe i'm just focused on this because i put on that trade
but uh it's definitely something that's on it's on my radar i think it's on the radar of a lot
of people at the moment um and then looking forward to what is going on over the next uh
24 hours it's obviously a big day for macro because you've got nvidia earnings um what's
been going in macro today like how's macro trading going into those uh going oh well nvidia stock i
think was down today it's down about two percent today it was down about four percent yesterday
so it seems to be setting off a little bit into earnings but i think the entire market is also
lower so it's just yeah i saw a headline which is that nvidia lost 78 billion of market cap
um in one day and something like the implied volatility of nvidia right now nvidia is is the
fourth biggest stock in the world i think right now or at least in the u.s stock market the implied
volatility after earnings was something like bigger than 500 of uh or 400 of the companies
in the s and p's entire market cap so nvidia is going to be like a fed uh fed minute uh like an
fomc this will move the whole market depending on what it what it does oh every single earnings
for the last four or five earnings they've just absolutely smashed it um uh so i you don't know but
i think it's a good sign that we kind of sold off going into it anywhere like it would have been
a little bit more precarious if we'd been ripping right into these earnings um whatever happens but
ai has definitely been the focus the other their ai coins continue to to be one of the
main ones moving i think the one that i was focused on over the last 24 hours was uh was
fed this uh ai agent's coin which has just kept on going higher as well um we know that one all
the way from when we first started in crypto but the ai narrative i think it's going to be largely
defined by uh by what goes on in nvidia tonight and that that could actually define what goes on
on the whole of crypto given ai has definitely been the strongest sector in crypto over the last 24
hours yeah do you yeah are you looking at any ai coins or is it just this dot one here
just that top one i think that's the main coin i'm looking at yeah just have you still got on
the one minute the mug the mug chart on the one minute i don't have it i mean there's a couple
of coins i have on the one minute usually and mug is one of them but not at the moment not at the
moment don't want to look at it on days like today um that's actually is that performed most things
right yeah i performed pretty well yeah i performed most things things things are looking better at
least over the last hour everything's looking a little bit more green um looks like we're not
going immediately to zero uh let's see how we shake out as the as the day goes on anyway i think
that is it for today we will see you all in paris uh paris tomorrow if you're going to be that i
don't think we have a show uh over the next couple of days right uh show of the week wow
wow last show of the week guys so there's gonna be a triple quadruple rollover for prizes i think
on monday when feroc comes back um and does his oprah routine we will uh we will see you all um
in paris if you're going to be there and if not we will see you on monday next week thanks for
thanks for tuning in cheers
good show half an hour we're just done you know
yeah i yeah sorry i just got a bit distracted towards in that show
yeah you're really useful a two man show yeah cut the space cut the space