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FOMO HOUR: BIG WEEK?
Recorded: Sept. 15, 2025 Duration: 0:51:19Space Recording
Short Summary
In a dynamic weekend for the crypto market, significant developments included Galaxy Digital's $700 million investment in Solana, a record-breaking $640 million inflow into Bitcoin ETFs, and Gemini's successful IPO. Additionally, the meme coin market saw a resurgence, while Base announced plans for a new network token, signaling ongoing innovation and growth in the space.
Full Transcription
Thank you. uh oops
what
what
that thing unmuted me without me unmuted I'm like uh Oops. Well. What? What?
That thing unmuted me without me unmuted.
I'm like, uh.
What up?
What up? What up?
What up?
What's up, M-Lo Belfort?
Ryan.
What up, Boo?
What up, Rocky?
Eric King?
What up, Ari?
Charlie?
Dobbins?
Pradeep?
Grab.
What's up, Dragos?
What up?
Twitch?
What's up?
What's up?
What's up?
What's up?
What's up?
What's up?
What's up?
What's up?
Let me tell Mendo that we are live.
And kick it, Charlie. Thank you. Yo, yo, yo, yo, yo, what up, what up?
Good morning, good morning, GMGF.
Monday, oh baby, Monday, Monday, Monday.
I love Mondays.
September, what are we now?
15, already, Jesus Christ. It's like my birthday was like a year ago. I swear to God. 2025. Look at that. Another beautiful day to have a beautiful day. I got my co-host in the house, Tyler. Good morning. How you doing today?
How are you doing today?
I'm good.
It was a nice weekend.
It was an action-packed weekend.
This summer, Saturday and Sunday, we're pretty quiet, at least with respect to crypto headlines,
even much market action.
This weekend was different.
We had quite a bit of action.
I think a lot of folks were glued to their screens all weekend, rightfully so.
There were a lot of opportunities.
I'm happy to break them all down for everyone today. there was a lot going on uh this weekend for sure i mean
you you spent your weekend in the trenches i can tell i was in now i i took some some time off i
went to go meet our good friend logan oh how was that for the crypt downtown chicago it was great
it was our first time meeting each other in person after years of working together.
What? We've had a totally
remote relationship until
this past Saturday.
And you've been working together forever,
no? Long time.
Four years before yours? Pretty wild.
Wow. First time.
Shout out to Logie.
Shout out to Logie. We love Logan.
Dude, this guy's cooking up over on the decrypt side.
Does come on here every now and then to co-host when some of us are off.
But that's really fun.
What are you guys getting to?
Just bounced around a few spots.
There you go.
Had some drinks.
Had some dinner.
Love that.
It was good.
I love that.
I love that.
You love to see that.
Anyways, today on the show, I'm trying to get the stream thingy for y'all. I posted, so I'm just trying to post the actual kick link because that's how you call it, win some money.
uh we're gonna talk uh we're gonna talk you know creator capital markets obviously because it looks
like that's like kind of like the the the topic of conversation right now we're gonna talk about
uh we're gonna talk about everything that's been going on over uh the weekend uh and then we're
gonna do a giveaway given that the yitterboards thingy is fixed but anyways if you want to have
a chance to win money on our show in general,
make sure that you sign up to Kik and follow our account.
If you want to give us a little subscription, be my guest.
Because on Fridays, we only give money to subscribers.
But if you don't, don't worry.
You can still win some money by following us on Kik
and make an account on ye.com using the code FOMOHOUR.
I don't have any more CTAs on the show.
Honestly, it feels nice to have a little daybreak here.
So if you're looking to partner with us, you know, we do have a couple lined up, but if
you're looking to partner with us and you listen to the show and you love it because
the best show in all crypto, message us and there's definitely some room to run here.
And that's about it.
Tyler, I'm going to go to you right away
because our friend Mando is not here yet.
For daily NFT and crypto analysis.
Tyler, the old FOMO hour calls to KitKat.
Ready to bash the bears.
Yeah, folks, it's an interesting morning here.
Stocks are making new all-time highs.
Yet again, Elon bought, he market bought $1 billion with Tesla, Tesla sword. He's dragging the NASDAQ up single-handedly with that buy. So stocks are green. Our beloved internet.45. We're down today. So Bitcoin down 1%.
Excuse me.
1.145.
ETH down 3%.
4,500.
Sol down 4%.
2.34.
That comes after some significant Solana buys.
This is one of the stories of the weekend.
Galaxy Digital helps multi-coin, I believe, by over $700 million worth of sold.
I think we got reports this morning they actually had bought over $1.5 billion for that Forward Industries salon in that.
So they helped drive up that sold price action.
Total 3, which is the total crypto market cap minus Bitcoin and ETH, hit all-time highs over the weekend.
1.12 trillion looked like it was ready to explode.
We'll have to pull up that chart later on.
This came after Friday.
It was a huge day for the ETS.
Bitcoin ETS, $640 million in net inflows, $2.3 billion last week.
So massive inflows.
ETS too, $405 million in net inflows on Friday.
That was their single biggest day in weeks as well.
We had Gemini.
They went public on Friday, IPO-ing.
Sairs up 14% to 32, $3.8 billion market cap.
I have not checked in on that here this morning.
And breaking news before the show, our friends over at MoonPay, another acquisition.
They acquired Miso as they expand their global payments network.
In corporate treasures, we touched on the forward industry news.
David Bailey's Nakamoto also issued a letter to shareholders
this closing. They filed this form S3. Basically, they registered the pipe
shares. So the pipe shares are going to hit the market. He told the shareholders to
brace for some volatility, meaning price is probably going to go down.
In token airdrop and protocol news, maybe we
buried the lead, but Pump.
Pump was the story of the weekend.
It soared 40%, hit $8.8 billion.
FDV at peak.
It has since settled down closer to $8 billion or so.
They hit a new all-time high in daily creator fees.
$3.5 million were paid out yesterday.
We've seen a huge influx.
So we'll talk about that more here in a minute. Punk Strategy also had a tremendous weekend. They bought six punks over the weekend as a part of
their token flywheel. That Punkster token went all the way to $30 million, now back in the $15
to $20 million range. We had Native Markets win that USDH stablecoin ticker auction after the
hyperliquid governance vote. So that is now officially a complaint. Polkadot Dow also approved a new referendum to set
a hard cap on dot tokens at $2.1 billion. So they are capping
that supply. And memes. Meme coin leaders were very red this
morning. Not surprised following red majors. This kind token
was the story of the day. It led memes in volume and
price action. Jumped 300% to $30 million.
I think it hit 40 briefly this morning.
It has pulled back since.
This Bagwork token also ran to $40 million this weekend.
Other streamer coins, ExtremeGuy, Pumpathon, Buncoin,
all had big weekends as well.
So that is clearly the new meta.
And Collector Crypt, they're still alive, folks.
That cards token hit a $750 million FDD on Saturday.
It is now since pulled back a bit as well.
That did come after a grail Pokemon card sold for $4 million over the
weekend.
So Pokemon is very,
very hot.
And then those moon birds,
physical collectibles.
I think we reported on Friday,
they sold out the $1.7 million supply.
And then they 3X'd over the weekend.
So folks love those RWAs and physical collectibles.
And that is our roundup.
Dude, that shit is insane, huh?
Mm-hmm.
Did you see the Pokemon card, like the rarest card sold for 4 mil?
I did.
It wasn't on chain,
obviously,
but like,
it's like,
to me,
that's telling of the market,
right?
Like it doesn't matter whether it's on chain or not.
This one.
I feel like,
I tweet this.
I feel like there's a lot of similarities to kind of where we were at in
early 2020.
I was going to say the same thing.
Yeah.
With physical collectibles,
which preceded the digital collectibles.
Literally, but this time maybe, by the way,
that doesn't mean we're going to have another NFT run like that because this
time we already have apes.
We already have Pudgy.
We already have, have had 2021 cycle.
But it's interesting, right?
But this time we actually have the infrastructure technology from a tech
perspective for crypto trading cards.
So if anything, that runs right like that.
Like I'm not surprised to hear cards.
Actually, after seeing that sale, we should have just eight cards.
And my thesis behind this is simple.
It's just like a four million dollar sale.
The whole market kind of takes fire.
That specific niche, right?
Sure.
Yeah.
And that's probably what helped Spencer's Moonbird.
A hundred percent.
I mean, this is a huge sale.
I mean, it was more expensive than if I'm not mistaken.
I'm pretty sure it was a $5 million sale.
Is it real?
I'm saying this is real, right?
I don't know.
I have not done the diligence on this.
I'm worried now.
I saw the headline.
I'm worried about Beanie's tweet.
No, I think this could be.
He's saying it's fake.
I know there's a lot of fake.
Oh, fuck.
It's fake.
Jesus Christ.
Easy.
God damn it, Easy.
A lot of folks are talking about that. Legendary as well. Well. It's fake. Jesus Christ. Easy. God damn it. Easy. A lot of
folks are talking about that. Legendary as well.
Well, scratch that.
There was no 4 million dollar Pokemon.
It was fake. Yeah. Let's maybe
just go back.
So, Tyler,
following your topics, I saw that cards pump.
I mean, holy shit.
Yeah, it did go parabolic again i think there
was a lot of questions about their sustainability was it just a flash in the pan were they going
to be able to maintain this and of course it's it's low flow so there's a huge discrepancy between
of course uh discrepancy is the wrong word there's a huge difference between their market cap and
their ftb you'll be aware of that. Like 10 to 1.
But, I mean, this thing is continuing to grind up.
I think they opened the gotcha machine again.
Whenever they open their gotcha machine, the sales just pour in.
So I don't think that's going to slow down anytime soon.
I don't know if we had the info yet on exactly what kind of flywheel they're going to put in place,
if they're going to do token buybacks and all that. So that's probably the next major event to look out for.
But other than that, anytime they do, these gotcha machine drops, probably going to pump
for the foreseeable future. And I don't own any of this, so not backpumping here, but it's pretty hard to argue with that price action.
Pretty wild, huh?
So 572 FDV, 69-minute market capital FDV is probably the number we should be looking at, right?
It's insane.
I mean, we're on the topic of RWAs.
May as well go to Spencer.
So they sold – I missed Saturday.
I was online all Sunday, but I missed all Saturday.
That happened Saturday.
It looks like it was on Solana, right?
They sold a bunch of Vive CTG collectibles.
Yeah, they sold out on – the sale ended on Friday.
It was about $1.7 million.
And then they've been trading on Sol on the secondary.
I'm trying to find the collection now i'm struggling to find it
but uh if anyone in the comments has it it's probably top trending on magic eden i'm assuming
if you go here you go to solana where solana is here it's probably like there it is uh it's oh
it's not port is in portals it's not this i think this is it no oh? Oh, it's not. Sorry, my bad.
Yeah, I'm not funny.
But anyways, the reports that I'm seeing is at 3X, basically.
So anyone who piled into that had a nice little trade.
I saw Cyrus, of course, the GOAT.
Of course.
Piled $41,000 into several packs, boxes, whatever the correct term is.
So he's up two or three X on that.
So very nice trade for those who got into those Moonbird physicals.
I don't know that it had necessarily an impact on the Moonbird's floor,
but maybe that's still to come it's pretty impressive honestly yeah the ability
of your brand to be able to pull off the stuff like that is huge yeah it should not be discounted
yeah this is huge 1.7 million dollars listen there's still appetite in the market for stuff
like that you know so yeah i'm trying to find it why can't i find the collection
yeah i couldn't find it either chat that's your job chat
usually usually is the is the is the chat that gets where it was turning on solana but
it is on solana i'm not even seeing it in the top of 100. It is on Solana.
See? Right there.
Oh, it's with Collect Crip, maybe?
Like, I see this.
Looks like it was maybe a... Maybe it was this.
Yeah.
Is it a sub-collection in there?
Yeah, it could be.
It could be part of their, you know?
Look, I don't know.
It could be wrong here.
But that's really good.
Okay, that's good. Anyways, maybe
we go back to majors here. It looks like we have a
slight little pullback, but like we're really back to
prices. I haven't seen this since Friday.
And nothing
new here, but maybe we can talk about this
as we have a pretty big week. The biggest
FOMC
in the history of FOMC.
I'm going to let my quants in the studio as well.
What up, Mando?
Oh, nope.
He can't hear us.
Well, Tyler, maybe take us through that.
Hey, guys.
Oh, GM, how you doing?
He's with us.
I'm good.
How are you?
The quant has arrived.
The quant has arrived.
I'm doing good.
Doing really, really good.
Just looking at the market.
You know, it's another Monday.
They killed our momentum.
They killed our momentum.
So what do you think?
I'm joking about the FOMC, but this is the FOMC where we're expecting rate cuts.
Perhaps they were a little priced in.
Perhaps not.
We have to wait to see when Powell speaks.
How do you feel ahead of FOMC on Wednesday?
I feel fine. I think FOMC on Wednesday? I feel fine.
I think FOMC is going to be bullish, as I've said before.
I think it's going to be a volatile week,
which is what I've been saying this whole time, right?
And I think you meant to buy dips.
This feels like a dip,
but I do think it could maybe go a little bit lower.
Let me put it that way.
What surprised me is the weakness in alts.
Like what you've really seen is like a reversal of the,
of the like Bitcoin dominance falling.
It's now rising again pretty aggressively.
Yeah.
Like I've been in Bitcoin for a
long bit of this but
yeah like we were speaking about like
a lot of these meme coins absolutely
closed
Doge was up 25%
right last week and then
dropped
about 15%
yeah just over
wow Bitcoin's
Sunday night
and then
took out everything with it
looks like
so Fartcoin back to
Pengu back to
what was that 2.6
roughly but these were like
they looked prime to go up and now
they just don't look so good anymore.
L1s look a lot better again.
That's crazy.
I mean, Tyler, you were just mentioning it, right?
Others, and you're talking about how it was ready to rip.
I mean, I'll pull up the chart, but...
I think there's a difference between the others trade and the meme trade.
I still think there's a chance that this meme sell-off is tied to POM.
And people are selling their memes for POM.
Yeah.
I'm not so sure about that. The volumes just don't seem high
enough. Do you know what I mean?
It feels like it's more
a trenches trade. I don't think people
are selling Doge. Doge just lost
$5 billion
of market cap. I don't think that's
a V. Yeah, yeah. I would
agree. It's not a Doge
to POM quotation. And this took out the major memes like Yeah, yeah. I would agree. It's not a doge to punt rotation.
And this took out the major memes.
Like Pepe got...
All of the memes just dropped about
15 to 20%
in a day.
Huh.
That's interesting because they were all looking
really good.
They were all looking good.
And now I know.
Yeah.
I guess we just wait and.
Scam.
They're trying to, they're trying to separate us from our,
from our great coins.
The institutions are actually trying to take your memes.
Wow.
Yeah.
Well,
it's just forming a double cup and double handle.
You know,
that's all.
That's what our memes are doing.
You know, they're just forming doubles here.
How do we feel about pump?
Whoa, it's pumping right now, actually.
Jesus.
It's the strongest coin.
That's so strong.
That's absolutely insane.
Yeah, look, I said it over the weekend a little bit.
This felt like it was suddenly a bit of a
sea change in in pump went main very mainstream very quickly very i mean let's have this conversation
you know while we're on the topic i mean this is the conversation of the weekend and we're coming
off this hot weekend creator capital markets uh has been quite the story i mean tyler why don't
you take us through like what this shift that's happened with PumpFun over the weekend
and take us through what the trenches are saying here
because it looks like you were quite active.
A lot of things have happened.
So the Pump app hit a new record.
Daily active users over 35,000.
They flipped Rumble and live concurrent viewers.
The creator boom really started with this Mango girl.
She went viral after sharing that she made $30,000 in creator fees streaming on Pump across about a 10-day time period.
So that's one of the stories that really went viral, and we saw a huge influx of new streamers coming over.
I'm going to come back to that.
But meanwhile, the Pump team has bought back $92 million of its token now.
Pump, the protocol, flipped hyperliquid in daily revenue in the past 24 hours.
And now the creator fees, and I tweeted this out too,
$20 million in creator fees claimed in the past seven days,
including $3.5 million yesterday, which is a new all-time high.
So revenue is churning.
The buybacks are churning.
The creator fees are up to the right
so there's more incentive than ever for creators to go and stream on pump fun because not only do
you get these fees you're also farming the airdrop and three percent of an eight billion dollar coin
is is a quarter billion dollars so there's now $250 million up for grabs for streamers.
And the streamer pool up until this weekend wasn't even that big.
Now that streamer pool is starting to become more crowded.
So we had Sway, a leading Fortnite streamer, come over and stream yesterday.
Looks like Alex Becker is going to drop a stream today.
Wizard of Soho is saying he's going to drop a stream
Oh shit
Didn't he already?
Did he already start it?
Wiz?
I thought he had
Wiz no
But Becker
I don't think Wiz did
No he did dude
I know he said he's going to
Try to keep his market cap under 300k
Maybe he was just saying he was going to do that.
Yeah.
Yes, the way that the creator fees work is you get a much larger portion of the fees when the market cap is lower.
And as your market cap goes up, the fee structure goes down.
Got it.
So basically, everyone's first day day is this is why you're
seeing these eye-popping stats so any big new streamer comes and they get like over a million
dollars in volume that they're probably pulling in anywhere from 50k to 150k in fees
like phase or sway rather made like 150k yesterday in creator fees. And that doesn't require him to dump any tokens on anyone.
So that is going to be,
that kind of easy money is going to be very tempting for a lot of folks.
Like if you are running a stream and you catch wind of this,
I'm talking more maybe a little bit outside of the traditional crypto
streamers and you catch wind of this,
like why would you not give it a try?
I mean, the downside is now you are maybe on the hook for a token.
So that comes with its set of downsides.
But I think a lot of folks are going to be okay with that.
And then the more creators that come come drives up volume on pump,
pump earns more fees.
They pump more fees back into token buybacks and the pump token goes up.
I mean,
it is a flywheel and the flywheel is spinning right now.
So it is a,
it's a good model.
It's working.
And I think early,
the biggest change is when pump started trying to
get into streaming right i think a lot of people laughed at them and said they didn't they wouldn't
have much of a shot and then early on they didn't really have many folks streaming and there weren't
many people watching now they're starting to make some serious progress and it's because the 10x
project ascend but when they launched project ascend a couple weeks ago fees went up creator to make some serious progress. And it's because they 10Xed. It's Project Ascent.
When they launched Project Ascent a couple weeks ago,
creator fees went up 10X.
And now the incentives are just so big.
You know who this is brutal for?
Just a quick side.
It's folks like Eddie who launched his show like a month ago or two months ago
back when the fees were much, much lower.
He's got like $1,500 in lifetime fees.
It depends.
From an airdrop perspective, he's probably going to cook.
So that's his upside.
But just random people who dropped a stream
yesterday probably made 5 to 10.
You have a streamer that got slapped by
what's his name? The bodybuilder guy.
Then they released
an unreleased Drake song live on air.
Was this Bagworks guy to like that's bag works yeah i'm a little less of a fan of this the stunts like that i i get it it's a little more dystopian it's a little bit more black mirror-esque for me
when you're just trying to run hijinks out for attention because it runs like what is the limit
like what are all you going to do for that?
Well, there was this guy saying Heil Hitler, like, a million times on stream
with a Nazi flag in the back, and I think he just got removed.
So you're going to get these, right?
But then you're going to get the people, like, the kind guy,
which you sent yesterday.
And I was like, if there's one one that I would buy, it would be this one.
I wrote this back to you, which didn't move because I was too lazy.
And this guy's, like, making kind actions, like good action.
What is it?
Yeah, he's got a history on TikTok.
I think he's got over a million followers.
And basically, he just goes and tries to change people's lives with donations.
And he had one over the weekend that I think went semi-viral.
And it seems like a lot of CT nativesators have started to rally behind this one.
I reported on this morning.
It was up 300%, hit 30 million, hit briefly at 38 million.
Disclosure, I do hold this one.
It looks like it's selling off a bit now.
It's back at 23.
But yeah, you had KindCoin run out to 40 million.
You had BagWorks run to 40 million and StreamerCoin ran to $40 million this weekend.
So there's three pretty big runners,
and then there's several downstream of that
that probably ran anywhere from $2 to $5.
So this is the game right now.
There's a lot of pros and cons.
The pros are these coins can't be vamped.
So there is one creator token.
So these industrial cabals can't PVP these tokens.
So that is an upside.
The downside is a lot of these folks are not CT natives.
They know how to run a coin.
Can you trust them to continue running it?
And then now there's just a whole lot of competition.
So there was a handful of coins
that you could trade and now there's
five to ten
strong ones launching per day. Is there enough
liquidity in the market to support all those?
We're not really seeing a huge
influx in new wallets or
trading volumes. They're kind of flat.
So it's unclear that
true new buyers are coming in.
It does seem like new participants are coming into the ecosystem.
Like these new streamers are new,
but they haven't necessarily brought a whole lot of new wallets just yet.
So pros and cons.
I think this is going to be the meta for the near future.
I don't,
I'll clarify.
I don't think this creator capital markets is,
is going away anytime soon.
I think pump has a legit shot.
Well, the AI meta ran for months, right?
AI meta ran for months, right?
Internet capital markets, AI thing.
This has been just like one real week.
I mean, Mandel, I know you,
you have your show in a little bit,
so you have to go.
So what are your thoughts here?
I know you talked about the pump trade,
but not from a training standpoint,
so I'm not talking about ticker pump,
but you did say that this could be a breakout app and I use you seem pretty bullish on the app in general and its user base Yeah
I it's playing out even quicker than I thought it would if i'm honest
But I did this feel as though it was about to go mainstream and Not many things in crypto have ever gone mainstream, right?
Ever.
Like Bored Apes.
Maybe Pengu, you could argue right now,
is a bit more mainstream.
What else?
I guess Bitcoin, obviously.
But Doge, when these things go mainstream,
you just never know.
We always think who's going to be the buyer of a coin in our little world.
And that's sometimes the case for our own native memes.
There'll be people finding out about PumpFun this week.
There'll be people finding out about PumpFun in a month.
Do you know what I mean?
I think sometimes we will think oh it's over
and actually these things can last for a long long long time um although pump fun kind of feels like
old news to us if this goes properly mainstream yeah it can we could have months of buyers of this thing. So I think it's on that trajectory right now.
That's why we started going parabolic.
I managed to catch that trade quite well,
but it does just feel like something where you shouldn't look at charts almost
because it feels, or even focus on CT,
because the people coming in and using this will not really be necessarily on CT,
you know,
like it will be on Tik TOK,
Instagram,
kick Twitch,
like all these sort of people are going to be people that suddenly look at
this.
And yeah,
I think that's quite a big user base.
Yep.
I capitulate it back in. I'm a big user base. Yep. I capitulated back in.
I'm a proud pump token holder again after being widely burned and liquidated.
It felt late, and I gave it so hard to chase, and it was going higher every day,
but I think there's still a lot of potential upside.
Dude, that's crazy.
Telegraphed that call perfectly only for it not to happen. I think there's still a lot of potential upside. Dude, that's crazy. Um,
telegraph that call perfectly only for it not to happen.
I happen a little bit later,
like by like two weeks,
but a tiny little bit,
I have fucked on a pump at some point.
Actually it was one of the biggest positions.
but I love to see that.
And I do think like,
I mean,
my background is social media and stuff like that.
And I,
I think this is the best shot we've had this cycle at like a breakout app
because also even if you think about like celebrities and all this stuff,
like all these like big people that do streams,
meme coins make no sense,
right?
Cause they're just going to make a big cash,
a short cash out.
This is actually a much more,
like a much smarter way for people like the,
the streamer guys,
the aidings of this world to actually have something more sustainable.
And that makes sense.
It's much less PVP than meme coins themselves.
Well,
I think it's probably PVP,
but from a world where people pay for subscriptions,
you know,
like this is just another way of doing it.
It feels like people will lose money though.
And I don't know if this is like the best onboarding mechanism,
but I think it will be a very popular one.
Yeah.
Yeah, there's still a bit of a disconnect.
Token holders are not aligned with creators.
I think that's still the fundamental problem.
Okay.
I think Wizard of Soho outlined it, right?
He maximizes his fees by keeping his token under 300k market cap
and if he owns a lot of the token he can if it goes too high he can sell it
and then if it goes too low he can buy it back and that's he's going to maximize on the churn
so as a token so as a buyer why do you want to buy out of that token
So as a buyer, why do you want to buy that token?
How can you really control that, though?
how can you really control that though
How could the average creator control that?
You need to bundle it, right?
Yeah.
It's a lot of work, though.
The average creator is not going to do that.
No one's going to go through the hassle of trying to keep the token at $300K.
Also, just this whole thing of clout.
People will want to have the highest token, right?
Yeah.
So I guess that they're aligned in that.
If you think the average person comes in and has a 50 K debut and it says,
Oh God,
I need to figure out how to do this every week.
Okay.
And a creator like that.
And maybe,
maybe they're aligned.
Okay.
But man,
we've got some breaking news.
We do have some breaking news.
Let's hit the button.
Hold on.
I don't get to hit it very often.
This just in.
Rub Radio.
Breaking news.
Breaking news coming out of Jesse Polak out of the Basecamp that's happening this week right now.
I'm not exactly sure where.
Jesse Polak says that Base is exploring the launch of a network token.
So it looks like, you know,
it looks like BASE may be launching a token.
Is that surprising to anyone?
Not at all.
But remember, he did come on the show with Yumi and Ovi a few years ago,
so that will never happen.
But I do think this was expected, though,
and it's the right move for even Coinbase, the company, to do that.
I mean, what do we think here, boys?
This is going to be the biggest L2 token there is for sure and by far.
Yeah, I think that's it.
I think it completely makes sense.
I mean, it's crazy that they don't have one.
Every other exchange kind of has one.
So for them not to, I think it was just dumb.
Yeah.
Do you think it's going to flip hyperliquid?
Is hyperliquid in this conversation?
It's not an L2.
Okay.
I don't even know why.
Is it not an L2?
Hyperliquid technically is an L3
Okay
That's fair, we don't need to get into the
Semantics of what hyperliquid is
I'm looking at L2s right now
What, AVAX?
No, that's L1, but I do think it could
Slip AVAX and something like that
The biggest L2 is probably
Arbitrum
It should be bigger than Arbitrum
Yeah, I think it's Arbitrum's It should have been bigger than Arbitrum.
Yeah, I don't think it's... Arbitrum's at $5 billion.
Yeah, it would be higher than that.
Layer, here, layer two.
Layer two, there you go.
I have them all here.
So you go fully diluted.
Mantle, $10 billion, fully diluted.
Arbitrum, $4.9 billion, then optimism, et cetera.
I'm sure
that this opens bigger than
all of the above.
Bigger than 10.
Oh, then Mantle, I don't really know. How's Mantle
10 billion, Mando?
What did you say? Mantle's
10 billion. How's that a thing?
Is it?
FDV, yeah.
5.4 Marky Hub FDV.
It's up 34% year to date.
I actually don't know.
Jesus Christ, hold on.
This is insane.
It's like recent too.
Last month.
Seems like that's probably...
I think that's one of these short...
Ooh, that's crime.
Yeah. Yeah.
I mean, base...
So base is $5 billion in TVL.
Yeah, I was going to get there exactly.
We were looking at that this weekend with Mando and Lodge.
He's doing $400 million a day in Dexball.
He's doing $400 million a day in Perp's fine?
Wow.
What does Solana got
so Solana's only
2.5x base and TBL
there's more going on in the Solana ecosystem
for sure
if it's $144 billion
maybe base opens
is it 20 to 30?
my honest opinion is that base won't be an L2 for long.
Yeah, I always thought they would do an L1 and compete with Sol and stuff.
But I don't know if they can go there.
It'll be an L1, I reckon.
Yeah.
I also think that, I also always thought that base would do an L1.
Because the announcement reads, they're exploring and launching a token.
But then somebody else said said launch of network tokens.
So what does that mean?
Yeah, it's the same.
Hear me out.
They're launching a Zora coin.
I got to go.
What does that mean, Tyler? Launch of a network token. What does that mean Tyler?
Launch of a network token
What does that mean?
I think it's the base token
It's true
I think the question is
Are they going to do an airdrop?
How would that work?
Regardless people are going to be
Pushing farming into overdrive
It does say beginning to explore network tokens Just so people know that doesn't mean it's coming now How would that work? Regardless, people are going to be pushing farming into overdrive.
It does say beginning to explore network tokens.
So just so people know that doesn't mean it's coming now.
Yeah, this reads like it would be in Q4 2026. I agree.
And by the way,
Don't hold your breath.
Yeah.
What does that mean for coin?
The stock?
I was just thinking about that.
So I just pulled up coin stock.
So coin stock is turning at $80 billion.
Yeah.
I've fairly consistently laid out bearish views on Coinbase,
and I'm not short the stock by any means.
But if there's a huge disconnect between CoinStock and the base token,
I'd probably sell and go to the token.
A lot depends on the tokenomics.
A lot depends on what the opening FDB is.
If the FDB is at 10 or below,
the token seems like it would have way more upside.
If it opens at 20 to 30,
it's a little tougher.
I think base,
the blockchain crypto ecosystem,
has more upside than Coinbase, the company, just because of its competitors, banks, competition with protocols like Hyperliquid, finance coming into the US.
Well, here's the announcement.
Today, we're launching a new bridge between Base and Solana.
I'm so excited about this.
I'm so excited about this.
It's built for developers.
The goal of this bridge is to make it so you can build seamlessly
across both Base and Solana.
We know Base has historically always tried to compete with Sol directly as well, right?
So this is like...
Okay, now let's go to the token part.
You can be able to take...
And for users, Aerodrome and Zora happen between...
So if you're interested in building on it as a developer, you can go to github.com.
I thought this was a clip.
It looks like that's the bridge clip.
I mean, I can bridge on my end right now in two seconds from Soledad Base.
Yeah, yeah.
D-bridge is amazing.
My end, D-bridge.
Interesting.
Base is playing on the launch and network talking according to Jesse Polite.
It looks like we don't have that many details
But yeah cue the base farming threads the threaders are you oh my god, dude
They are yeah for egg right now these farmers they're like all over
All right, I guess more to come out of base camps. Big deal.
More to come.
It's a huge story.
It's going to take a while to play out, clearly.
Yeah.
Expect more.
I would expect the base metrics to go up in the near future.
Higher volumes, higher TVL.
Yeah.
I agree.
This is already pretty high.
Like, it's impressive.
Like, let's say you're a consumer crypto.
Like, the two main chains right now where people are playing are, like, Solana and BASE.
Yeah, I think that's right.
Like, when it comes to, like, apps, right?
I was talking about DeFi, all that stuff.
I'm aware there's a bunch of other stuff.
And of course, then you have all the all-time ones that try to compete like the Sueys
and the AVAX with this world, et cetera.
But like Solon and Base are really the two, right?
And they're in direct competition.
I don't know too many of my casual friends
who have even made a transaction on Base,
if I'm being honest.
I know a lot more who've downloaded Phantom Law
and made a meme coin trade
than those who
actually executed on base.
But I think your statement
is still correct. Yeah, those are still
the two leaders.
Alright, well that's interesting. That's some breaking news
coming out of Basecamp today. What else you got, Tyler?
Let's see.
We went through Pump
in pretty good... Oh, punk strategy.
We're going to hit punkster. Talk about, tell me about this. So this is pretty cool. Huge one.
Yeah. I'm trying to get the website for you. Just go to punk strategy.com.
Oh, so you fully spell it out? Punk strategy.com. Yes. Spell it out. Punk strategy.com.
Yes, spell it out, punkstrategy.fuck.
Basically, we talked about this when it came out.
So it's from Renotic.
And the idea behind this is they launched a token, PNKSTR, punkstrap.
And they take 10% trading fees on all trades.
And those fees are used to build up a treasury that when it gets high enough,
they will buy one CryptoPunk off the floor. and those fees are used to build up a treasury that when it gets high enough,
they will buy one CryptoPunk off the floor.
And when they buy it, they will immediately list it at 1.2x the floor.
And if and when that Punk sells, they will use the proceeds to buy back and burn the Punkstrap token.
So that's the core premise of the app it came out originally that they had
it set at 2x the floor and i think they quickly realized that that was just too much yeah it's
way too long for that to hit i mean the floor is over 200 000 so that's it i mean it may never hit
who knows so they adjusted it down and that seemed to be a bit of a boon.
And then for whatever reason, this weekend, it just caught fire.
So it started grinding up Friday.
It went parabolic on Saturday into Sunday, hit $30 billion.
Oh, what a sell.
And then it sold off a lot.
It sold off a full 50%, as did most mean coins.
Yeah, of course. The greater coins all did this too, right? All the coins did. Well, it was full 50%, as did most mean coins. The creator coins
all did this too, right? All the coins did.
It was trading like 10x nav, dude.
Yeah, so that's a good point.
I'll get to that in a second, but
it drove huge volume.
Yesterday alone, it bought
five punks. Wow.
Five yesterday.
Sick. And now it holds six. I love's got like it's gonna buy another one today
there they are it had three ethan's treasury when i woke up at like 5 30 this morning and
now it's already up to 15 i think it's a pretty safe bet it will buy another pump today no way
dude this so it will have seven and yeah so that it's it's treasury is worth 1.4 million or so.
I don't think people have been valuing it on that.
It's interesting because folks have pitched the narrative of it's tokenized punk.
So you're getting punk's exposure.
But it's also not like it's trading in line with the punk's form.
Yeah.
I wouldn't personally abide to that.
I've seen tokenized punk. We've seen the fractionalized punk. I've seen tokenized punks.
We've seen the fractionalized punks. We've seen the punks
token.
I wouldn't abide to that.
For me,
if I were to buy this, if I would have caught it,
I think Locke put it at 1 million.
Great buy.
He's obsessed with it. I was at dinner with Locke on Saturday night.
He couldn't stop talking about this.
Locke's being our it. I was at dinner with Logs on Saturday night. He couldn't stop talking about this. Logs being our CEO.
But he's like, yo, I have money in my computer, in my car.
We're having dinner with his kids.
And the guy has an account loaded and his computer in his car in the parking lot in case it dips to buy more.
He was all over this shit.
But I would buy it for the same reason he bought which is the
experiment the meme of the experiment like i wouldn't buy it saying like oh like this is
exposure to punks i don't think this is like i wouldn't buy this coin as exposure to punks
yeah and that's part of why i faded it at two million when i when i first really saw it and
came across my desk i mean this token was very viable in the $2 to $3 million range for like a week.
Everyone had a shot at this.
And then the people who got
in hit anywhere from a 10 to 15x.
So not surprised to see some folks
taking profits. It is
interesting to think about where it will go from here.
It gets very exciting
if we see the punk floor actually start to move.
One of the problems was no one else is buying
punks right now except for Punk Strategy.
So we need other folks to buy.
No one's buying punks.
For this punks game to work, right?
Would this work
with an NFT that is perhaps
more tradable?
Do we think maybe
people start saying this should be
so much to do this for punks, apes,
pie queens. It looks like Renaudic even answered saying soon.
Where it becomes bullish if it's punk strategy
starts doing this with a bunch of NFTs
and starts an index fund,
hopefully not the smart tokens.
You don't do ape strategy in the ape token.
You don't do penguin strategy.
You do one token for all of the NFTs it's buying.
Because we also think your liquidity is being so dispersed. So I'm curious how that happens. You don't do like penguins, you do one token for like all of the NFTs it's buying, right?
Because we also think your liquidity is being so dispersed.
So I'm curious how that happens.
But do we think this works better with an NFT that has more trading volume, Tyler?
Yes, 100%. Lower floor.
Not trading volume because I guess punk trading volume will always be number one because it's 200k per.
But you know what I mean, like more trading cadence.
Yeah, I was thinking through like Pudgies is an interesting one.
It's tied to the Pudgie brand,
but the floor price is so low.
That's a good call.
You would just be churning through
and it wouldn't be that hard
to move the floor up 20%.
What's Pudgies? They're at 1.7 or something?
Collections.
Or like a Moonbirds
at $2.60?
Moonbirds would be very interesting.
Like,
I think Moonbirds
is the most interesting.
Little Pudge as well
because it's Pudgey brand,
but Moonbirds is like
the main of the two, right?
Like,
Moonbirds gets interesting here
because they have hype.
I think Moonstrategies,
yeah, sorry.
So they have hype.
They're trading.
They're just two weeks.
Like, I get it.
It's a lot of money, but you know what I mean
I don't know
That's a great call, I think Moon Strategy
is the most interesting play
Moon Strategy
So if you're all listening
So Ray on the Nifty Show this morning
said, I think he's in the Discord with Renotic
they're looking at building out for other teams to do this, so I, I think he's in the Discord with Renotic, and they are looking at building out
for other teams to do this.
So I don't think it's going to be in the next.
I think they're going to let other teams
do their own token,
have individual models.
So if that happens,
it's going to get diluted pretty quickly,
and I think it all becomes less interesting.
I think the second and third one
are probably interesting.
And the next one is 100% going to catch a lot of action
because everyone wants the catch-up trade.
Moon strategy, bro?
That sounds amazing.
I would buy moon strategy.
It's called moon strategy.
Spencer, if you're listening.
Spencer.
You've got to work faster.
But the challenge is, right, as a founder,
you don't want to be on the hook from the token.
Actually, Spencer shouldn't do it. A community member should should do it you need someone from the community to do it i was just thinking
about like for right guy like ov is not gonna launch strategy it's terrible for rect yeah he
doesn't want anything diluting from the red coin no and same here right we gotta be careful like
it's probably what why we don't have a pump token yet on the show like you
know intentions on mirror right um so it's like from a founding standpoint it's true yeah you're
right i guess we'll see um i like it though i fuck with the innovation the other aspect is that they
sold those token works in the t's and i actually did buy one of those oh wow i actually totally
forgot that i did no you received like a,000 of rewards the other day, though, so far.
I think I need to go claim it.
But yeah, as a holder, they all got like $1,000.
All the NFT holders get access to these fees, just like you said.
So nice little reward.
So if you own that TokenWorks NFT, you at least do have some stake in this.
So you're going to be wanting to root for this as well.
I think they're trying to maybe roll out like a claim process of some kind.
So we'll keep folks posting on that.
But that was a fun story on the weekend.
And I'm sure it's one we will come back to,
especially if the punk floor starts moving a bit in the near future.
So, yeah, that was,
other than that,
empties were a little quiet.
Yeah.
We talked about Pokemon and all that.
I think we kind of went around the one.
Yeah.
Those are all the big news.
Yep.
And,
speaking of big news,
I have sad news.
There's no giveaway today.
I've really pushed it to the last minute because the code websites aren't working.
Uh, but don't worry, Don't worry. Don't worry because that means that there's usually two on Friday. So we do one tomorrow. We do every day. Every time we skip one day,
we put it to the far court Friday because it's fun. But there's still going to be a giveaway.
There's still five a week. For those of you who are new, whenever we miss one because of
a tech difficulty, let's say, or because of a guest, we still do five that week. So there's still going to be five giveaways this week,
but it's pushed to Friday
because it appears that Yeeterboards is having a little issue,
which is why you saw no code.
So my bad, chat, here.
But hey, you still got a great show, okay?
Okay.
And if you didn't, go to the roll-up on Friday.
I was on with Andy and Robbie.
It was a lot of fun.
They hit me up last minute.
I was like, fuck yeah, let's go.
I'm going to go show Marriott.
Love that.
Every chance I have.
That was a fun show.
Yeah, that was a fun show.
So make sure you check that out.
I'll also post a full interview.
Besides that, I think there is a good roundup.
And it was very, very good.
So with that, we'll see you all tomorrow morning,
10 a.m. Eastern Standard Time for another episode of FOMO Hour on Rogue Radio.
Let's go. Thank you.
