Thank you. Thank you. Yo, yo, yo, yo, yo, yo.
Take it, baby. Thank you. Yo, yo, yo, yo, yo, what up, up good morning good morning gm g
wednesday is it wednesday yep i actually like wednesdays now because the bull market
wednesday july 16th 2025 look at that another beautiful day to have a beautiful day i got my co-hosts in the house
what's up y'all what's up what's up talent what up man good morning how you guys doing today
as i said my we may be doing my retirement party this summer.
Who knows if I'm joking or not, you know?
I don't think you're joking, to be quite honest.
To be fair, he's been saying he's retiring for a while.
And then he launched a casino.
mean if you've been watching
this show for the last year
how long have you been doing this show for two and a half years
particularly for the last year and a half
i've been pretty bearish on
i thought it was the worst
get out get out get out, get out.
I think I turned and then kind of brought along Farouk
and then Tyler was the final one to turn with SBET.
Originally, I went along after that initial breakout
where it broke out to 2,500 and then dipped back down to that 2,300, 400 range.
But we're really cool on this.
And if it goes to 4K, having been a show which really did not love ETH for the last year and a half, I think we have nailed this.
This is proof that you don't have to marry an asset or love it to trade it.
You know, I think this is proof.
I'm in the – this is great.
I mean, I'd love to have a retirement party as well, Mando.
For that, I need Farcoin to stop ranging.
I mean, Max Payne is Farcoin ranges for the next six months and everything keeps running. But that's not going to stop ranging, that would be nice. I mean, Max Payne is far-core ranges for the next six months
and everything keeps running.
But that's not going to happen.
The most important descending, what is it called?
Tyler, what is the name of your new thingy?
Descending cup and handle.
It's a double cup and handle.
It's the most important descending wedge in crypto, Mando.
Anyways, I'm sure we'll cover that.
Tyler, how are you doing today?
Every single sharp pattern should be a variation on that.
Descending, descending handle.
I mean, you know, I have to say, I know it's not, I'm not meant to do this now.
We're just in the introduction part of things, but we're talking about it.
This is two cups, one handle.
You know, I don't know if you get it.
That's a head shoulders candle right now.
This is one cup, two cups, one handle.
You know, you know what I mean?
So look, one cup, two cups, and then it'll just...
Anyways, I had so much coffee today, yo.
I think I'm still getting...
Because I got this brand new machine, the Longhi Rive Lina or some shit.
Oh, yeah. And I don't think I figured... It's like a proper this brand new machine, the Longhi Ravelina or some shit. Oh, yeah.
And I don't think I figured,
it's like a proper bull market coffee machine.
like pre-rich coffee machine.
You seem incredibly happy.
It's a bit of a bull market.
You seem happy about your life.
Like the mustache is big rock.
This is a man who's seeing the sunlight every,
that does change everything.
And I also just got back from a Thai massage.
Had this chick just walking on my fucking back.
Like she for like 90 minutes,
two cups, one handle, Thai massages, Ethereum. I'm out of
focus. So I was trying to figure out my coffee machine and I put intensity five, but I had two
of those. And so I asked chat GPT what intensity five is. And I think that's if I was like 14
milligrams of caffeine, which is like a double. So I guess I have two doubles.
It's all right. You know what I mean?
Caffeine is high T, right?
I don't know. I'm just making it up. Be careful. Non-medical advice over here. I know Brian Johnson.
I'm behind. I'm lagging. I feel like you need to join the GoTee When Tash, Tyler? Yeah, dude. I'm behind.
I feel like you need to join the goatee slash Tash crew.
See, I'm letting it rip here so I can go like this.
Yeah, Farouk's gone a bit more cleaner than Milo, which is a bit more goatee-esque.
But I feel like you could definitely grow a beard, right, Tyler?
I haven't really had a beard in my adult life. I had a goatee
once when I was like 18. Let's see it.
Come on, man. Let it rip, dude.
Let it rip, man. Come on, do it.
By the way, reminder, kick.com forward slash djenslive.
This is how you log in and this is how you make money.
Today on the show, we'll talk markets.
What are we talking about?
We're talking about the Tyler's Top 100, which, again, there's a lot of news,
especially on the Crypto Week site last night.
There was a lot of voting, et cetera.
I think we should definitely cover that, see what's going on on the Genius Act site, et cetera.
We have a guest coming on today's show partner, Metaplex.
Solana company, so curious to talk to them.
But what they're up to, what they've been up to, and maybe we ask them a few questions about Solana ecosystem in general.
And then last but only, see a giveaway.
So every day we give $1,000.
Yesterday, oh, no, yesterday, Mando Rugged.
That was dirty yesterday, bro.
Dude, Yeet code later today.
And then last but not least, the show is powered by,
the show is powered by, I put it in a note.
There you go, Wallet Connect.
Wallet Connect is a connectivity network
shaping the future of our chain UX.
If you've connected to Web3 app,
you've seen Wallet Connect,
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And I'm going to trust in crypto
as recognizable as Visa at checkout.
follow Wallet Connect on X and Telegram
to stay ahead of what's next.
Wallet Connect, that's what it is.
And then also Kraken Pro.
With Kraken Pro, you get full control over your layout,
drag and drop any module,
It's clean and smooth and built for real traders
You can go on there and just like,
you know, long Ethereum, for example.
If you trade crypto, check out pro.kraken.com trade without trade us mando i mean we're probably
going to repeat what we've been saying for every day but let's see what the market's got mackerel daddy of the land. Can you dig it?
Well, we have another strong day for ETH, really.
I mean, big one's higher by, well, it's still about 118.
It was kind of around that level when we went live yesterday.
Solana's actually doing a little bit better today so back
up to like 167 uh area so it's it's slightly underperforming but not um not by much and then
memes are a bit more mixed but but on the whole i would say up about five to ten percent bonk has
been strong um long has been strong. Wow. Mog has been strong.
Rekt hit a new all-time high.
It's been a decent day for memes.
It feels like the trenches kind of came back a little bit
because funds started going higher, I think.
I think that was mainly what it was.
People started making money, and everyone was like,
Which has got everyone feeling a little bit better.
Look at that fucking chart, man.
The dips are not that much, right?
It feels like one of those ones
where it's not going to give.
of resistance will be that,
Looks like this is around the 3,400 area.
Right here, like previous high here.
I would guess you run into some there.
Probably chops there for a little bit.
There's a lot of clean air now between here and there.
You got like 3,450 3750, 4K?
They're not like massive points of resistance in my opinion either.
The main one will be at 4K.
So I think we'll see how long it takes to get to that level.
The way this is going up makes me think it could be this month.
I thought it would be next by the end of the summer, I said.
I thought it would be like August time, let's say.
I would be surprised now if it takes until the end of August to get to 4,000.
July 30th is Ethereum's 10th anniversary.
I know that because we've got some stuff coming for it.
That's your alpha for the day.
But 30th of July, which is in 14 days,
I'm sure as hell they're going to work.
The Tesla fractal is coming up.
You put that in the chat the other day,
which is like, this has got to stop.
Because I haven't seen something like that from an E.
Well, this is what we need, right?
I've been doing an E for years.
Like, actually for years.
The investor saying, he says something here.
You see that and you just think, fantastic.
They're talking like this again.
DC Investor put out something like, if I zoom out,
it looks like ETH just put in a higher low and a higher low versus Bitcoin.
I was like, he's like zooming out 2018, 2020.
out 2018 2020 and i was like this is fantastic like they're like fully believe that like i think
And I was like, this is fantastic.
i saw messy um agent chad yeah that he's about to break is is gonna flip bitcoin by the end of
this cycle they are drinking the kool-aid and i'm here for it i'm here for it i'm not i'm not a full believer in it i still
think that he has a long long way to go but just that belief is what was lacking 100 you know the
solana to a thousand crew the the bitcoin to a million crew he was literally just like
will this even be able to hold on as number two
it's got a very different sort of crew.
He's the best between a lot of them.
Yeah, he's fucking cool. And to be fair, he never
To be fair, he never stopped. You know what I mean?
Yeah, what were you going to say, Tyler?
Let me put it this way. Let me put it this way.
Because I was thinking about this a bit more and not the toot around horn.
But is there more respect for the people who didn't hold on to ETH during this whole underperformance?
And we kind of picked it up.
Kind of towards the low of the range than the people who were like bull posting the
whole time i think so because the thing is now let's say you held your ethan we're talking about
it the entire time you just break even like from years ago that's not a good trade that's not a
good trade because you've missed you missed the solano trade or even the hyper liquid trader right
i'm not saying you have to catch everything i did not catch this hyper liquid trade at all i
actually never bought it though i support it but i caught the Solano trade. So I think it's more smarter to pivot and pivot back
because a broken clock, whatever, quote.
What do you think, Todd? You don't seem to agree here?
I'll take the opposite side of this.
It also depends on your entry,
built your ETH bag at $1K,
I think it's fine to have not sold
it at the top and to have held it
on a longer time horizons the same thing for bitcoin like there's folks who think like oh
you should try to sell your bitcoin every top i'm happy to take the other side of that right i think
it's it's easier to just hold this is true and most people lose their money in between that so
tyler you have a point like mando you you managed to do it well i somewhat managed to do well but
do make a lot of mistakes personally.
So I'm not that good at it.
I just barely make it out every time, but most people lose everything.
So some people are just better off bull pulsing the entire time and praying that it comes
Um, so, cause sometimes it's just good to be a community member.
Zoom out on the ETH BTC chart.
That's the one that's really I'm paying attention to here.
It printed a big candle yesterday.
Yeah, yeah, that was yesterday's candle.
Zoom out, yeah. Zoom out.
That just looks like it's broken out of a…
Two and a half-year downtrend.
From here, right? out of a multi-year two and a half year downtrend downtrend yeah from here right so let's uh let's look at this here boys i the thing about this is i do think
trap flight are paying attention to this exact thousand ratio
and i'm not bearish on bitcoin at all because I think Bitcoin's going high
this here from here at this point here
we're breaking out of a thousand day downturn
I think there's three things happening for you
there's this new technical indicator
which is huge for the catch-up trade narrative you've got the the new treasury codes which we
talk about all the time um they're buying in bulk and then now these the etfs and i talk about like
if you look at the djans board we're seeing 200 million a day fuck yes they're seeing
like 60 of the bitcoin inflows and if you extrapolate that on a market cap basis,
that's the same as Bitcoin doing a 1.4 billion a day.
Imagine those had the means if Bitcoin was doing that.
And there's plenty of good,
very good reasons to be bullish right now.
and I posted it this morning here,
I've said it on the show before and I posted it this morning here, is this.
I've said it on the show before.
I think we're in July 2021.
And a lot of people are starting to get bulled up on NFTs again here.
I saw Crypto Hayes, Arthur Hayes, switching to Spirited to Punk.
I saw Duda's Twitter about NFT.
I saw Penguin sell for $220K this morning.
Todd has posted about the Punk's Bitcoin ratio. Brother, Sims shared the PPI numbers this morning in the chat, Mando.
This morning, Sims sent the PPI numbers from Walter Bloomberg and wrote, send it.
Like, this is so bullshit.
No one knows what PPI means, dude.
And I mean that in a good way.
I was like, yo sims moved this
fucking gambling money to hyperliquid he's fucking sending ppi numbers he's you know this is bullish
you know because because first is the people have been here that are finally starting to do this
like sims then it's gonna be the normies so if we pick up like a chart right what's this wall street
cheat sheet chart i'm curious to know because I have some thoughts on this
I'm curious to know I know you don't really like this chart Mando, but I'm gonna pull it up because it's tense to I like it
I know you're not a big fan of it, but I like it. I like it. I like it. I like it
So here's where are we in the chart? I'll tell you right now where we are in the chart. I think we're a thrill
we're in between belief and thrill.
And see, I'm not being like 2021 for all could be like,
yo, we're just like here.
Like, well, we're just like here, like disbelief,
which is definitely not disbelief.
Do you think ETH is there though?
I think ETH has been so down bad.
Well, the thing is in between.
ETH is at belief. ETH is here. Time to get fully invested. Because people are really starting to go into ETH has been so down bad. Well, the thing is in between. ETH is at belief.
Time to get fully invested because people are really starting to go into ETH right now.
How many people do you know,
do you know on the timeline
that have bought ETH at 4K last cycle?
A fuck ton of people bought ETH at $46,000.
I think ETH right now, And I said it two weeks ago
It's become more consensus
There's no doubt in my mind that it became more consensus
Fund money, liquid fund money
That's just been buying Bitcoin.
And we'll look at that chart that we just showed
and say that there can be a rotation.
If some of the speculative money is moving a little bit more to each,
the people that are looking for 11,
I actually think institutional money is the thing that could move here.
And that's a different sort of move
like that that is a move that can really you know i don't know i i want to take i will be
taking profits of 4k i'm not i am not round-dripping uh but this isn't um a blow-off top it feels like to me this isn't like oh my god
like it doesn't even feel that frothy out there to me across other things but it's not like
you don't have tons of memes doing insane numbers it's just it's just pink yeah like it kind of
feels like it's eath um and i think if eath was to go to like 5k
that's when it would be like okay or or 6k that's when you start to be those can't even break 20
billion dollars right exactly so it doesn't feel like and like also you can judge that by how many
people are asking you about crypto and i saw you tweeted that your uncle was asking you yesterday
true story and it's not him he put me on the phone with his friend who used to be in bitcoin mining in 17 had to style
his operation in quebec because government whatever and he was like i i'm i have he's like
i have a million dollars to spend and like xrp what would you buy i'm like fuck
bar coin i think that uh i don't think that i'm seeing that. A couple of my
people have posted like, oh,
Bitcoin all-time high, all this
But no one's asking me for what to buy.
It doesn't feel like the frothiness.
of your takes on this one for real.
we're in Thrill, that means you should be selling. You should be like 75% out. a like if you think we're in thrill that means you should be selling
like you should be like 75 out so where do you think we are again i think we're on a multi-year
cycle breaking the four-year i don't think we are going to see a big correction in 2026
but if i had to say something on that chart i'd say say like early optimism. Early optimism. Okay. Yeah. I mean, I'm somewhere here. Me personally,
but I've also been fully invested forever. Optimism here. So you're about here.
You're on your way to belief. Yeah. Fair. I mean, I'd rather be where you are.
I'll take, I'll take where Tyler's at.
My point is I feel like there's a long, long way to go.
Like I think the treasury co-trade is just
And there's going to be more, right?
There's going to be Solana treasury co-s popping up
There's going to be so many more coming
Portfolio allocation crypto
I think we're going to see that go to 3-4%
From advisors, maybe more
We talked about this on Underexposed yesterday,
but Portnoy actually had kind of an insightful statement.
He said, I talk to my broker about stocks every day.
We should have just bought Bitcoin.
Putting what he's done aside,
that is a very interesting statement, right?
If you were playing individual stocks on a day-to-day basis
and you aren't outperforming bitcoin what are you doing like and at what point do you come to the revelation
like maybe i should switch my investing habits a bit i think that's i think that's a really
interesting point i do think that if eth which has been you, not a loved asset at all, if it does regain some of this, like, reserve currency sort of feeling,
like it's a bit more of a store of value view to it,
in some ways it is a bit more TradFi friendly than Bitcoin.
Like, a bank might decide to own ETH on its balance sheet
because it can become a validator, it could stake it,
it can use it as collateral for certain DeFi things.
Whereas Bitcoin itself, it suits some institutions
that just want a gold-like holding.
But for institutions that particularly want to do things
and I say the main thing would be
There is an argument that
not just be picked up by strategics,
sorry, by these treasury companies,
but get picked up by as an asset
which banks maybe hold more than Bitcoin
or like other institutions think,
which we should just hold on our balance sheet.
Yeah, we haven't even talked about the staking ETFs, right?
Which is another potential.
Which also goes into your trade by point, right?
That's even more attractive.
all-time high live viewers on
DGN's kick for us. Second of all,
we're nearing 200 live listeners
and so one of you is going to make $1,000.
A-T-H-R-E-K-T, like that.
Look at this jersey, bro. Who's got this?
Who's got this? Look at this jersey, bro.
This is my home shirt. I got one of those.
It's my home shirt now because it's
so nice, you know, because it's really hot here, you know, a lot of sun.
And so this is just nice.
Anyways, Rekt A-T-H is a coat today.
It's looking... You know what?
Like, sometimes, like, Tyler and I were talking about this
last week, like, you were kind of on and off.
We're like, damn, we talk about it every day.
But the thing is, we're right every day.
Nobody we shilled is down.
shit starts hitting the fan.
question on that mando this has been kind of underperforming i'm thinking
can we can we just set a date guys you may retire i'm i'm thinking and i know it sounds
crazy but i wasn't on a call this morning because we're setting up some lines for some markets, and I said ETH may hit 4K in a week.
Bro, am I retiring in a week?
take off the month of August anyway?
Thank you for understanding. Thank you for understanding.
Thank you for understanding.
Can I just take a quick second to victory lap one of my calls?
Maybe the best ETH beta trade was
but you have another call
55 and you whispered it on Monday after Mando was gone.
And that stock just got halted five minutes ago.
The gang does a hostile takeover of Liquor House.
Mando, that was a crazy call.
We had Joe Lubin on the show, guys.
We had Joe Lubin on the show, guys.
We literally had Joe Lubin on the show telling guys. We had Joe Lubin on the show, guys. We literally had Joe Lubin on the show
telling you guys that this shit's
And he stayed like 40 minutes.
He hung out with the boys.
Tyler, I got less than wrong.
On the back of that, I was telling you to buy
I have this like... Well, my ETH bit is good because it's mocked and wrecked.
I moved my Pepe off to pump, which I'll probably, I don't know if I'll regret it.
We also got to look at the SBX chart briefly.
Yeah, I want to see you guys hit the retweet button on our show's live stream.
You guys don't have to retweet the spaces anymore.
We don't really care about the spaces.
But I want to see, like, Tyler, Mando, and I, all three of us, posted the link to DJ's live.
I want to see him a tweet.
NFA, DYRL, all that shit,
but goddamn we're nailing the cycle.
It's just our second one.
That's why it feels so good.
Let's pull up the SPX chart.
Let's pull up your chart here.
Fresh all-time highs. Price discovery
breakout of that cup and handle. You could argue that's
a double cup and handle, too. That is the most
breakout. That's a double cup and handle, right?
Oh, it's a two cups, one handle?
Two cups, one handle. Two cups, one handle, right?
You have one cup, two cups,
I think it's actually a good line.
I think it's going to 2.4, 2.5.
I think it's probably the next target on this.
And that kind of felt crazy, but these memes just cruised to three billion.
Bonk and Pingu are both $3 billion memes now. Pingu is up again today.
It's actually kind of a cup of an animal bird.
This is the bird takes flight?
What's the other one you said?
It's kind of going tit for tat with
Pump right now. We haven't talked about that. Maybe we just
team last night. They loaded up a wallet
in the ballpark of $20 million
in Pump tokens. Then they send another $10. I think it of 20 million in pump tokens. Not bad. And they send another 10.
I think it's still sitting in their wallet.
They're using total mean numbers.
So their buyback wallet has 69,420 sold in it,
That helped pump it last night.
It's been kind of chopping since then.
It was a surprising amount of buybacks,
I think even if you thought they're into the 25%,
I think people thought maybe that meant 25% per day.
Like they made like one and a half million in revenue yesterday.
So like 400 K and they came out swinging with 20 million.
I think it does raise the question of like,
how long will they be able to sustain that type of inflow,
and then what does that mean if they slow down the pace?
I'm a little surprised that some of this price actually will bump, to be honest.
I'm on perp, so I'm paying some hefty funding fees for this.
I don't love the sell-off after they bought $20 million, if I'm being honest.
Yeah, I mean, Alan said, fuck it, two mode.
I bought more. Yeah. I bought a lot. I bought more.
I'm pretty bullish on it.
We'll see where that one goes.
The PumpFun account hasn't announced shit yet.
They just posted something yesterday for the first time.
So we'll see where that goes.
Also on the Solana ecosystem, you were showing a lot of memes pumping.
I didn't think I would say this.
But they all do this little double, you know, two cup, one handle formation here, Mando.
And they all tend to send back around here.
I wouldn't be surprised if you wake up and whiff is back to $2 billion.
I would not, so it's not me talking my bag.
If whiff goes to two before Farcoin does, it will be painful for me.
Mando, what do we do here?
You're the only non-bag holder
I own Farcorn. It's frustrating.
You're going to hate for me to hear it,
but I feel like it's like a consensus.
I always think Pump is like consensus like i i wouldn't necessarily think pump breaking out is like
some trade which is the timeline wouldn't be happy about let me put it that way um
the things that with is a much is a trade that could break out and a lot of people would be
sidelined right um i'm trying to think which other trades
which feel a little bit like that right now.
I would say whiff is not a bad shout,
but at the same time, whiff is more meme-based,
so it's a little bit tough to like...
I would be in it for a pump rather than to keep it.
I think Mog was kind of like that.
I think Pingu was like that as well.
Mog was like that, yeah, obviously.
Yeah, Mog was good still.
We've said this so many times.
I think it actually feels like that.
Joe, Joe, Rekt is about to go to 200 mil.
Yeah, Rekt is looking good.
I think Rekt is slightly like that too, if I'm honest.
I still think that Rekt is held very tightly by a group of core users.
Let me pull this tweet out.
That's just a technical situation there.
The supply, which is out there, because remember,
the majority of the studies are actually held by the
current market cap is much smaller
is held by people that aren't selling this thing
I mean we have that $12 million lows, dude.
You think I'm going to sell 190 mil?
There will be a time where I have to sell.
Not when ETH is about to go through $4,000.
Because I think also people are looking for...
Do you think SPX is a better meme than Rekt, for example?
Or like a better... Even just from a meme perspective?
But I guess what I'm trying to say here is that it has both of those aspects,
which is like, yeah, it's got the brain coin aspect,
but it's also just got the coin of like a belief coin.
Like is useless a better or worse meme?
It just feels like you really own these coins for how strong is the core group who who
have it right and i think that's what i'm trying to say about wrecked is that like it's a good it's
a good meme of just being wrecked but also it's got that like okay there's a core group of people
here who aren't going to sell this yeah i think there's a few coins like that in the market right now of which sbx wrecked um this coin useless kind of feels like it um
and they're like cult of personality coins yeah almost you know like murad bonk guy
ov yeah like you kind of they kind of feel like, and you kind of want to be in with that group.
So those coins can really move when stuff gets going.
I'm trying to think, is there any other coin like that?
Where there's a leader, a sort of cult-like leader?
Ansem hasn't really attached to anything.
It used to be Wh with when he sent it
right but he's kind of distant he still owns with clearly but he's not what he was no and then all
the other k i say meme coin kols have kind of like they kind of blew themselves up last cycle
or last earlier this year you can argue like rasma is rasma is like coin like his his coin right that
you could argue that that's maybe not a bad shout um kook is like a bit like on pengu as his whiz
and as his anthem you could argue that that's got a few people but i think that's that's broader i don't think you buy pengu for the cult of like you want to own a coin right um
the only one i can think of is maybe like inf kind of has a tweet a little cult behind it
yeah that's a little bit of a different play too it doesn't feel as as it's got that though i agree
with you like the mob crew is kind of in on
it and maybe has a little
bit of that to it I think of another one
to be honest yeah I'm surprised
the other cultish coins of
like the other murag coins like
They haven't gone to zero. They're like holding up,
I don't know. Anyways, on that note,
we're the third largest crypto stream on kick right now.
Where's Razmint's coin now?
You have a bag, don't you?
There's a world where that goes to 100 million.
In the world where streaming takes off,
going he's got the zoomer army behind him i'm just thinking for that sort of a coin do you know
what i mean where it's like it's a cult of personality the issue is is that it's literally
the coin is literally about the person i think that's less strong than like a concept or an idea
you know like spx wrecked um useless like they have a bit more of like a
they're less tied to like an actual name person but i can i think i can go to 20 20 30 easy
i don't i see it i mean i think the pump eco is nice i just personally rather own
pump itself than the ecosystem at this stage as a trade.
But I do think if Pomp goes higher,
like if the thesis goes to $10,
I don't see why it's ecosystem tokens,
which means the creative tokens will go higher.
overall portfolio is Pomp?
I don't do the math. It's, uh,
uh, 20 ish. Okay. Maybe less.
15, 20 depends. It's fluctuates, right?
Yeah. I moved some stuff around.
Mainly, mainly Farcoin is my core bag. It's like fat, fat.
I guess it pumped so much that it became
more comfortable owning a large portion
of Farccoin at the moment still, even though
it can be frustrating for people.
Pump is a much smaller, I actually think,
and talking about consensus versus non-consensus trade,
I do think there's a day here where,
because it's become so non-consensus,
in the same way that like ETH would pull out a candle and everyone goes
it's the time of ETH and it would go up and everything else would dump.
Like I get the feeling that Solana might be like the new ETH.
that's what you're meant to sell.
When Solana pulls that like 20% candle in a day,
that's where you go like, okay,
let's take some short term profits.
But I think Farcoin will no doubt in my mind,
have a big move yeah i don't know if it's going like two and sustain though that's what that's my feeling about it like i
think it goes up to like 1.8 and like rather than like doubles we'll see that farcone i think is
dying i think that's exactly what i'm talking about it's definitely not dying but it's become
more non-consensus which is like i like what you're saying though so i like what you're
saying right it's exactly what i'm saying i like what i believe about the solana is like these are
really good trades but they're good trades where everyone goes like i like what you're saying i
like what you're saying i like what you're saying so what you're saying is you need to become less
consensus and once it becomes fully non-consensus that's when it prints a candle. I actually agree with you.
Solana feels like that right now. I look at Solana and
it's starting to feel like
I mean the Solis chart is being shared all over
the timeline saying that it's dead.
think that one has medium term legs. I'm just talking
just about Solana by itself.
I think Solana there's a lot of pain in Solana right now.
It's just like, it's gone sideways for a long time.
Now it's unperformed ETH.
There will be a, it will catch up.
At some stage, it'll have a really good gig of candle in it.
Oh my God, ETH's still going.
Yeah, Pepe is starting to wake up finally.
Like, Pepe is starting to put some candles in right now.
on Farcoin? The risk reward on Farcoin
seems pretty crazy to me here.
I don't see that going below one.
It's been chopping here for a while. I wouldn't put it long
like leverage, so I'll always say
There's one point where it's going to hit that.
I hope it breaks out. I'm positioned
for it to break out. I could also see it just
Just so that this plays out. So people get
tired of it. The opportunity cost to rotate.
And then once people are out
Because at one point, it felt like everyone was in the position, right?
So like, who are the margin?
Yeah, I mean it lost a lot of holders over the
Pump launch, by the way, and I like that.
I know it sounds crazy, but you see here
it finally started gaining holders again. It was
Pump is holding, guys. It's about to hit 50,000
holders. Gained 10,000 yesterday
I know this may be controversial
I think Pump is the one that I feel like
Might frustrate you the most
I'm not staying in too long
Everyone was waiting for the buyback
And it's just kind of happened
It's not disappointing This is still great everyone was waiting for the buyback and this just kind of happened. And I think, I think,
but like I get the feeling that this isn't going to go above like 10.
Like the size I have 10 is a target.
But it may just hit six for a long time.
I think everyone wants it to go to eight to 10 and they want to sell fast yeah right that's why i feel like it depends on this it would just be so
easy right it would be the easiest easy mode to remember it just goes straight to eight or ten
it depends on this right like in solano actually looks really good if i if i if i'm being honest
like i don't think it looks bad when I zoom out so
anyways I see Steven in the stew do we bring you on on camera or put right in the chat what up
Steven you good oh we can't hear you fuck check check no we can't hear you. No.
Wait, sometimes it's your settings on the StreamYard itself.
Sometimes Steven does that.
We're talking to, speaking of Solana, I mean, MetaPlex.
One of the biggest fucking Solana folks.
I want to hear what Steven.
Unmute on StreamYard. Now you want to hear what Steve... No, we can't hear you. Unmute, on stream yard.
Now you're muted on... Go.
Maybe try without headphones.
Let's do it one more time.
Yo, yo, yo, yo, yo, yo, yo, yo, yo, yo.
What up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up? What up, Steven? How you doing? All right, let's go. Good, man. Good. I'm actually traveling right now, so I've got my makeshift setup.
So sorry for the glitch there.
It's good to see you guys.
I mean, we're used to makeshift setups here.
I don't even have my full setup yet, but we're getting there.
But how you doing, Steven?
I guess a good morning for y'all.
I'm in Hong Kong right now, so I'm looking out the window window kind of at the uh the skyline so enjoying that visiting some family out
here that's like one of my favorite cities on earth like i could live in hong kong just if it
wasn't for the time zone i would probably have moved there like this is like my top three favorite
cities on earth i love it it's the best yeah you know i'm from the bay area and like i do feel like
yeah sf and hong kong oh and Hong Kong, there's something there.
They kind of echo of each other, so I always feel kind of at home out here.
Every GigaChad rich Chinese person I know in Hong Kong studied in SF.
They all went to study in the West Coast.
They all studied SF or fucking Stanford or they have a doctorate, some PhD there, and
they all live in Hong Kong, you know, like super giga chat.
Anyways, Steven, why don't you give us a little introduction of who you are, what you do,
Because, I mean, if you were there last cycle, you know what Metaplex is.
You guys are responsible for a lot of the stuff on Solana, behind the scenes, et cetera.
So why don't we get a little intro?
You know, yeah, like, you know, a lot has changed, but, you know, some things stay the
So, you know, the first Solana run, it was NFTs and powering the profile photo explosion
with our candy machine program and our standards.
This cycle, it's been meme coins and now the internet capital markets bringing Silicon
Valley to anyone with an internet connection.
I actually grew up in Silicon Valley, grew up in Mountain View, Los Altos, kind of somewhere between, you know, Google and Stanford and Apple.
systems, became fascinated with Bitcoin and essentially information technology and ways
of having distributed ledger and non-sovereign money. And so, you know, first got into crypto,
wiring money to a Japanese bank to get some Bitcoin on Mt. Gox, you know, found myself
day trading in the BTCE troll box, traveling around to Puerto Rico and
Mexico City, and then had a chance to jump in early and help out as the first PM and designer
at Solana, and then have been leading Metaplex for the last few years. So it's been quite a ride,
and it really does feel like we're just getting to that point where a lot of the things that we've been talking about for the last few years are really coming true.
And the on-chain economy is now becoming the main stage instead of this thing that's talked about at coffee shops and on podcasts.
So you guys have been around for a minute.
And obviously I remember because I was training NFTs at some point on Solana in 2021.
Then you guys came around and whole SPL, standard, all that good stuff.
And that all started blowing up.
And so, and then Solana season happened earlier this cycle.
I mean, it's kind of the story of the cycle so far.
And we still talk about it, even in between all the Ethereum stuff going on.
Solana always manages to squeeze itself into the conversation.
So question for you, I mean, you mean, who uses Metaplex today?
Maybe you can give a little bit of background on that.
So, you know, as you guys know, it's like 99% of NFTs and tokens on Solana were created with Metaplex.
So similar to ERC-20 or ERC-721, we've provided the standard to the ecosystem that's been allowed for this huge ecosystem of
applications to be built because those assets are interoperable. We have open source programs
and SDKs that developers can bring in. And in fact, we're really the first project to build
templates for how to build applications on Solana. So we have a huge developer community.
So all the major wallets like phantom and
soul flare and backpack and the okx wallet all support uh metaplex assets all of the major nft
marketplaces magic eden and tensor all of the large exchanges and token trading platforms you know
every token on pump fun is uh is minted using metaplex and 50% of our protocol revenue goes to
buying the MPLX token. So and which is then contributed to our DAO. So, you know,
we've really been kind of, you know, holding the banner for revenue generating
projects, projects that are focused on, on token economics and decentralized
governance. And so it's been, you know, it's been an incredible
ride and, you know, excited to continue to support this like incredible community of founders on
Solana. And I think there's, you know, a reason why Solana is here, like what you guys were
talking about. It's the performance and the speed and the scale of the technology, but it's also
the community and the founder community and kind of the, you know, that, that grit, you know,
created a lot of resilience across the board.
You guys are absolutely fucking crushing it.
I remember talking to him back then.
And so seeing you guys around today still is,
that's what I was trying to explain earlier.
I couldn't figure quite out the ERC 20 standard of like,
kind of. So all the NFTs you've've bought oh my bodagos are on uh on your standard there
you go i'm still buying nfts are you what are you buying on solana what do we buy come on give us
the alphas what do we what are you buying well i mean i you know most recently like portals um
play solana they just dropped incredible collections.
Some of the kind of like the D-Gods, like artists sort of working on both of those with, you know, Slime and Johnny D-Gods.
And then just, you know, incredible like, you know, founders and technology behind both of those projects.
And then, you know, I've got my eye, you know i've got my i've got my eye you know
like i shop like i'm you know i'm on tensor i'm on magic heat and i'm scrolling i'm looking you
know i've been i've been shopping for a galactic gecko for like two years now just like waiting for
the perfect one so i've got a few i got a few pieces left in my my collection that i'm i'm
working on but i tend to be one of those people where it's like i want to get like one or two in
a collection that's like my uh my you know my grail piece so i tend to tend to be one of those people where it's like, I want to get like one or two in a collection. That's going to be like my, you know, my grail piece.
So I tend to tend to take my time with it.
And so let's talk more about Metaplex and what you guys are dropping.
Because obviously you're here to talk today about something that's new.
July 14th, two days ago, you announced the launch of Genesis, right?
I'm going to play a little video here because I think it's funny.
Let's play the video first. Because it's actually pretty good. Shout out I was sharing it, but you know what? Let's play the video first because it's actually pretty good.
Yeah, let's play this first and then you tell us what it's about.
We got it! I'm sorry. Wow. wow damn good content so that this video is great so what is genesis tell us more about this
so genesis is a an on-chain protocol for launching tokens on solana and the svm uh you know our our
view here is pretty simple it's like we're building the on-chain economy. Why aren't we
launching our tokens on-chain? And to date, most of the large token launches have happened where
the actual sale is happening with maybe it's like a private sale that's happening to a select
group of investors and retail doesn't really understand what's going on or maybe it's being
done off-chain on some sort of Web2 application. And that creates all sorts of issues. retail doesn't really understand what's going on or maybe it's being done, you know, off chain on
some sort of web to application. And that creates all sorts of issues. Like you have front running,
you have sniping, you have market makers that have big blocks of tokens that no one knows about.
So the price runs up and then, you know, the team or someone else is selling into it. And
token launches are a one way door for founders. Like if you're, you know, if you're lucky,
you know, as a founder, you'd have the opportunity to maybe launch two to three tokens
and have those be successful over time.
And you have to get all the details right.
And I think we've now minted over 10 million tokens using the protocol.
So we've seen a lot of hands.
We've seen well-intentioned founders that just, you know, their contracts are like, you know, hand rolled and have issues or they haven't fully thought through the game theory.
Like, you know, even if they're well-intentioned, if you don't get all of the mechanics correct, then that, you know, destroys trust.
And then things, you know, things end up kind of going to zero ultimately.
And things end up kind of going to zero ultimately.
And so what we built is an on-chain protocol that has a number of different launch mechanics.
So auctions with blind bids, with sealed bids.
We have a launch pool concept.
There's kind of an evolution of the send money to wallet address meta.
But it's all verifiable on chains.
So everyone gets the same price.
And we've had opportunity to R&D this
with a handful of projects that we announced as well.
Tuna, DeFi Tuna being the first project
that will be using the protocols.
And given you guys are obviously familiar
the Candy Machine program was like the program that sparked that NFT boom on Solana. And you can think of this very much like a Candy
Machine type program for fungible tokens. Wow. This is really cool. Congratulations on that.
And so what's the, and you know, kind of like leading to this and like last question here for
you is like, what's the long-term vision, right? Like you guys are now powering these platforms,
these tokens and everything you're doing is pretty cool. mean last you did now then with nfts now with
coins etc so like what's the long-term vision for metaplex and then the growth of that because
like i feel like we hear the term launchpad etc a lot um and it sounds like you guys are one of
the teams that kind of figured it out and got it together. So how are you planning on growing this? Where's it going?
And to be clear, I wouldn't view this as a launchpad. This is a launch protocol that launchpads can integrate with.
And we've had a chance to start talking with
and building with launchpads
that will be deploying this into their tech stack.
But it also gives the opportunity for a project
to directly deploy this themselves with customizable UI. So it's all like branded in the way that they want
to. And we've seen that with the large projects, they really want to oftentimes kind of stand on
their own, or it's a game where they want to embed it in some other type of UX. But, you know,
the vision, you know, we actually kind of talked about this for a second, like I grew up in Silicon
Valley. And, you. And during these big transformations
where you went from transistors to integrated circuits, to personal computers, to web software,
to mobile software, you had to be in Silicon Valley really to participate in that in a major
way as a builder or a founder. And obviously there are exceptions to that, but it was really
like a location issue. And so you had all these people flooding into Silicon Valley in order to work for these companies, to be near the capital markets, to be able to go through, go down Sand Hill Road.
And actually, I kind of expected that that was going to be my path as an entrepreneur.
I would be like popping through like Sand Hill Road, like having coffee chats in the foothills and whatnot.
But crypto is built different. And our thesis is that
the promise of crypto is that it delivers Silicon Valley to anyone with an internet connection. And
that's true for founders. That's true for people that are looking to invest and provide support
on the capital side. And so the vision ultimately is to build that infrastructure for the on-chain
economy, which we think will be just the economy, that it will be the primary rails,
the peer-to-peer rails for finance and commerce,
and that it will happen on high-performance blockchains,
it will happen on Solana,
and it will be built with Metaplex
and with technology like Genesis.
So congrats on everything, dude, Stephen.
And hope you have a great rest of your trip in Hong Kong.
And thank you for partying with us
and thank you for talking about this and whatever you're doing.
Last question for you, trick one.
I gotta ask the Solana guy.
I gotta ask the Solana guy.
So anyways, if you guys are curious
about Metaplex, make sure
I was sharing it on the screen, but for those of you listening to us on X, follow them on
The ticker for them is actually MPLX.
So if you like what you're hearing, listen, they got to talk it out.
They got a bunch of stuff going on.
Genesis looks really cool.
I mean, if you're a meme coin dev or a Solana dev like M you know you can reach out to steven start cooking with uh and integrating the metaplex
protocol there you go steven thank you so much man appreciate you appreciate it thanks guys
all right all right i forget you you're you're solano dev sometimes mando
feels like the funniest part of your story is that i know i saw you integrated yeet with
epic with yeet like yesterday right two days ago
you got some i think you guys are back to like four million i was looking this morning
yeah um you guys are back to like four million dollars yeah 4.3 oh wow look at that 22 candle
see that could be a fun one to run back um but anyways guys see the flywheel, see the hash crash shit. Hardest working meme
On Solana, at least. Let's put it that way.
Anyways, should we give some money away? Let's do Plinko
because I got a call to attend to.
I hate Plinko when we keep playing it.
Timothy, I know you lost Blanko.
Messy Gates, congratulations.
Let's give this motherfucker some money if he's here.
Messy Gates. What's his username? Messy Gates. There's here. Messy Gates.
If you're here, you don't have to come on Twitter.
You just have to be... By the way, we broke 200 lives listeners on Kik.
See, every day you guys should be retweeting the Kik stream.
See, we're at 200 lives right now.
Wow, we are 66, 34 subs, 555 followers.
we're the second largest stream on Encrypto in English on Kik.
It's time to come back from summer vacation.
Do you guys realize how big we're about to get?
There's too much happening right now.
I agree with that. You can take vacations next summer. Yeah. Yeah's too much happening right now. Yeah, I agree with that.
You can take vacations next summer.
Yeah, dude. Stay healthy, though.
Come to the World Cup games with us. Yeah, yeah, yeah, yeah.
Get rich with us and come to the World Cup.
I can definitely see him.
The bot just kicked in that he's re-followed,
so I think he was having trouble talking,
but I can definitely see that he's here.
So we're doing Plinko anyway, so we can just go for him, but he's re-followed so i think he was having trouble talking but i can definitely see that he's here okay so we're doing plinko anyway so we just go for him but he's definitely here okay perfect that's all that's all i need to know here all you need to know without having
the fomo that's our tagline all right let's give him some fucking money man all right mando can't
win this one uh okay let's go quick i got a. So let's do 10 balls, 50 bucks each.
10 balls of 50 bucks. And I won't put turbo because there's 10 balls. Okay. 10, 50. Okay,
we're good. Are you guys ready?
By the way, Vando, I suggest putting some music in the background of Plinko. Instead
of just the balls. Yeah, it would be fun.
Like something, you know?
I just told you I retired.
You retired from Yeet as well?
Wait, you retired from Yeet too?
You need more product feedback at this time.
Thank you for understanding.
Thank you for understanding.
This is that Kermit the Frog meme in it where he just looks up at him.
It's finally coming to fruition.
You want music on the Plinko?
Yeah, I want music on the Plinko.
As an angel investor in Yeet,
I want music behind Plinko.
Wait, are you guys going to rug when you hit $4,000?
well, I won't. KBM can still work.
KBM's been liquidated too many times.
like the bottom column Sbet?
Yeah, God, I picked up on that straight away.
Remember when they tried to tell you
they told you to buy Sbet?
I feel bad because I love him.
Anyways, all right, let's do this.
All right, what's his name?
He's been trading well, actually.
But you just know it's one day away from
He's going to short today.
I'm too close to the sun.
He's looking too good here. Yeah, pump stump it. He's going to be like. He's frothy. He's looking too good here.
He's going to be like, let me short this.
Alan's going to buy $30 million worth.
There's one on the right.
I don't even know, dude. I feel it. There's one on the right. Yeah, yeah. Who is that?
I don't even know, dude. I didn't pay attention.
Anyways, he's probably made close to $1,000.
Because whenever we play Blanco, the minimum is usually like...
Because you don't really lose, right?
Minimum is like, you know, so congratulations,
Messi Gates, you probably made somewhere close to like $9,500.
And with that, we'll do that.
We'll sell the one morning, 10 a.m. Eastern Standard Time
for another episode of Foam Hour on Wog Radio.