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FOMO HOUR: ETH SZN Accelerates
Recorded: Aug. 13, 2025 Duration: 0:56:19Space Recording
Short Summary
In a dynamic crypto market, Bitcoin and ETH are experiencing significant growth, with Bitcoin reaching $122K and ETH hitting $4,700. Notable partnerships and investments, such as Azuki's funding from GameSquare and Wallet Connect's upcoming token launch on Coinbase, highlight the ongoing trends and innovations in the space.
Full Transcription
Thank you. GM, GM, everyone.
Thank you for joining us here this morning.
We're going to start the show in just a minute.
Before we do, a couple shout outs. Bongo, GM, Cyber Nomad, Ibro, GM, GM, Joe B, CJ, Harry Krishna, the rec guys.
Love to see you.
We got McNutt, the homie GM, Don, Poliwave, Casey.
All right.
GM, GM, thank you for joining us.
All right.
We've got Logan up here.
We're getting the DJN's live account. We've got Logan up here. We're getting the DJ's live account.
We're getting Sims up here.
All right.
All right.
Sims, whenever you're ready.
Let's kick it. Thank you. GM, everyone, and welcome to another episode of FOMO Hour.
Today is Wednesday, August 13th, 2025.
It is Wednesday, August 13th, 2025.
And oh, baby, another big day in the crypto markets.
We've got Bitcoin running to 122K.
ETH ripping to 4,700 overnight.
The all-time high waiting rooms are open.
And our question this morning, do we get there today?
We're going to break it all down on this morning's show.
No Farouk.
Mando's going to join us here in a minute.
We got Logan on with us.
Logan, Gia, how are you doing?
Hey, good morning, Tyler.
Doing pretty well.
This is a great day to wake up.
A lot of green.
A lot of green.
Like I was just refreshing the coin gecko board.
Pretty good start.
A whole lot of green i find myself
waking up earlier more naturally on these bull market days like i'm chomping at the bit to to
get out of bed and start checking prices and uh writing about this industry i love so much and i
love it so much more on these green days a little more pep in the step. Folks, what are we talking about
today? We're going to start with a market report. We've got Scott Besson. He wants 50 bips cup.
And now we're starting to get some creeping odds on that actually happening. ETH popping
all time high. It doesn't look like it's going to stop. SOUL actually one of the top movers
on the day. OKEx and their OKB token jumping 140% on a surprise announcement.
We've got this Coinbase stablecoin liquidity fund in the mix.
Rekt is busy.
They're teasing a base collab.
Azuki just landed a huge investment from GameSquare.
We've got more Solana meme runners on the board.
Punk's hitting 250K.
And it looks like there's a new NFT mint tomorrow.
Folks, NFT mints have been hot lately.
So I think we need to dig into this one and prepare for what might be a nice mint tomorrow.
So a lot to get into on today's show.
Before we do that, shout out to our partners, Wallet Connect.
Wallet Connect is the connectivity network shaping the future of on-chain UX.
If you've connected to a Web3 app, you've seen Wallet Connect.
That blue logo, it's everywhere.
An icon of trust in crypto, as recognizable as Visa at the checkout.
If you want to learn more, follow at Wallet Connect on X and Telegram to stay ahead of what's next.
And I think shout out to Wallet Connect.
I think their WCT token just got the Coinbase roadmap.
So they are going to be going live on Coinbase here soon.
And shout out to our other partner, Kraken Pro.
Kraken Pro gives active traders exactly what they need,
deep liquidity, full customization, and 350 plus trading pairs.
Build your own layout with drag and drop modules
and trade seamlessly across desktop or mobile.
Go to pro.kraken.com and trade without trade-offs.
All right.
Well, no Mando.
I will do my best Mando impression for our market report.
Sims, do we have the lead-in music?
All right.
The morning, the lead-in just goes so much better with the intro.
So thank you for that, Sims.
All right.
Let's take a look at things.
Bitcoin, up 2%. Really just popping here in the last 30 minutes.
Right at the $122K level.
Some of the quants are saying this 122.3,
123 level are the levels to get past
for us to get to the next tier here on Bitcoin.
But it's looking good.
But pales in comparison to the other major movers here.
ETH up 6%, 46.85.
I think it was 47.40, 30 minutes ago.
So moving up very, very well.
And then Solana.
So this caught me by surprise.
I was just checking prices yesterday afternoon and noticed that Solana was actually the top major mover on the day, up 14%.
Now back over $200.
All the attention has been on ETH, but Sol now coming to play here as well, which has been interesting because it's been largely ignored, at least in discourse on CT over the last month or so.
Taking a look at the biggest movers in the top 100, OKB, and we'll get to the news here in a bit, up 130%.
I mean, you don't see charts like this too often.
This thing went to a smashing all-time high.
It is never basically 2x above its all-time high ever.
Hell, I'll just get into the news now.
Basically, they came out and announced an upgrade,
several new changes to their economic model,
and the big one was a new buyback.
They're doing a burn and then a buyback of their token.
And man, the market responded quite strongly to that.
So shout out to anyone holding that OKB token.
VARCoin, a lovable name here on the top of the list, up 28%.
Back from the dead.
Radium up 18%. Arrow up 16% as well.
So some of your DEX plays, buyback plays, perhaps with Radium there, say Arbitrum Sol rounding
this out. Some big, big green on the board. Stocks, I think opening, yeah, stocks are up
green again today. So we're just printing all-time highs after all-time highs for the S&P and the NASDAQ.
I think arguably the biggest macro story of the day was out of Scott Bessent,
who's come out now and putting pressure on Jerome Powell,
saying he thinks we should do a 50-bps cut.
and we're starting to see some odds of that creep up.
And we're starting to see some odds of that creep up.
So taking a look at the CME board,
one cut is now a 99.9% favorite.
This is the highest it's been,
at least for the last few months.
What was surprising to me is that they didn't have odds on two cuts
and now they finally do on CME, which is at 0.1%,
which kind of feels a little silly.
But Polymarket has different odds.
Polymarket's got a 50 bips cut at 7%, which feels a little bit more directionally right to me.
I mean, 0.01% doesn't really feel right.
It feels like the odds are above zero for this.
or above zero for this.
Shout out to my quant Jeeps,
who got into the 50 bips bed at 4.5% yesterday or the day before.
So he got a nice entry on this.
I'll be honest, I kind of like this at 7% still.
So you get 14 to 1 on your money on a 50 bips cut.
It's a long shot.
I mean, rightfully so, but you're getting odds on a
long shot um it's it would be a little bit of pal kind of admitting the mistake to a degree
right so i think that would be the the thought on one cut what are your thoughts yeah i think
after so much hesitance right uh mr too late or you know whatever the hell trump calls him after
so much hesitance for some time just just to introduce one 25-bit cut,
I think it would be a lot to double that.
And then this feels like you introduce a 25,
you see what happens, right?
And then you hopefully react from there
in the right direction.
I would have felt better, of course, at 4.5%.
It's easy to say that now at 7%.
But yeah, man, if you're looking for long shots, you could do worse probably,
especially when you've got somebody like Bessent loudly asking for it as well.
Yeah, I think that's part of the driver also for what we're seeing in the market.
Mando.
Mando's in the studio with us.
GM, how you doing?
GM, everyone.
Can you hear me okay?
Yeah, just fine.
Yeah?
Sorry, I'm on the move again um good yeah market seems even better than it was yesterday again my uh my rotation into bitcoin
it's i think i think i'm gonna time this one well when, you're hot, folks. Well, you haven't missed much.
I just started giving my own version of the market report.
It didn't get very far.
Kind of just went through the major movers
and then talked about what I thought was the big headline from the day
was best at calling for 50 bips cut in September.
It was kind of a more quiet day on the macro side.
I'm not sure if anything jumped out to you from a macro perspective.
I think this lawsuit potentially against Powell is,
I mean, that could unsackle something like that, I think.
If people aren't aware, it's kind of a frivolous lawsuit,
but the Fed, the actual building of the Fed is being renovated.
And Trump is considering,
it's been a massive overspend.
And Trump is considering allowing a lawsuit against Powell
for allowing that overspend.
It is costing billions of dollars,
but it's a pretty political move,
I would say, to kind of come after a fed chairman for not managing building works correctly at the at the building that's not normally what a fed chair
would be judged on but this is seemingly what uh what it's what is happening that that may
you know if power decides you know I'm done because of that, maybe I don't think the market would react so well.
So that continues to be like, I wouldn't say the black swan, but the chances of that happening seem to be increasing at the moment just with the pressure being put on.
And yeah, I think that's about it.
It's a quiet period.
Like Trump's obviously going to meet Putin on Friday.
He's being kind of downplayed by the US,
but who knows when those two kind of get together.
And CPI, I think, was mixed, but the market went higher.
At the moment, the rallying crypto doesn't feel like a macro one.
It feels like a a crypto specific they're
going to buy five percent or six percent of the total each value um and yeah i think that's the
main thing driving i'm with you it's so notable here the the top two stories on cnbc's sidebar
ticker here this morning folks ether nears 2021 record high as money pours into ETFs.
And Tom Lee says Ethereum will keep charging ahead.
Two ETH stories.
Top links.
You love to see that.
And I think it's just,
the headlines are just too strong to ignore.
I had to write my feature this morning about Tom Lee again.
Yesterday it was him acquiring $1.2 million,
and today it was the $20 billion raise. I hate to repeat myself, but it's just such a big story
that it's just too big to ignore. DJ Johnson was talking about this yesterday. I'll try to
find the tweet, but the stocks are doing so much volume now
that they're going to continue selling ATM. So it's just this flywheel where I think they raised
somewhere likely above $500 million yesterday in ATM shares. Just based on speculation,
we don't have the exact totals because they're
not published to buy more ETH.
And you just think that they're going to basically keep doing this every day.
Tom Lee's bit might up another 5% here today.
What's it up?
It's up 57% on the week.
So it's doing very, very well.
The ETFs aren't slowing down either.
So yesterday or two days ago, we had the 1.02 billion new record.
Yesterday was a 524 million net inflow into the ETFs, which is the fifth biggest day on record.
So we've got three of the five biggest days of all time, I think, have happened in the past three days, the past three sessions,
which is just insane to see. And again, too big doing or Logan, I see you, Nondra. Any thoughts?
Yeah. Well, I was just going to add, speaking of three, ETF inflows, only three outflow days since July began. Wow. There's one tiny one july 2nd two last week um during the minor drawdown
and i think that's it it's just been uh astounding unprecedented of course as it goes for epbs
it's one of those things where like on paper it was easy to think that we would face more sell pressure above 4k near all-time highs
and this headline from tom lane just feels like it's totally flipped the script it's just like
how do you how do you sell a huge position with this amount of buy pressure incoming
and i think that's given some folks some pause and It gets harder to sell too when you get like standard chartered.
You saw the new price targets this morning,
like 25,000 or something in 2030.
Yeah, pretty wild.
I think you have to,
and I'm not getting embarrassed on Ethan anyway,
but I think you have to appreciate that a lot of this will have been
front run right like the story that you heard yesterday is a story that is probably responsible
for the the rally in east from like 4 000 to 4 600 700 like that that story was already known
by people who are front running that story. There's no doubt in my mind.
So be a little bit wary of like buying into the previous pump,
essentially there.
I think it's a great point.
I think it's also very interesting to be monitoring this 20 billion and
potential buy pressure.
So at what point do people start front running to sell
that? I think it's pretty logical to think whenever
that $20 billion runs out,
we're probably going to pull
back because
who's the next buyer after Tom?
Then you start to think,
okay, are people going to front
run it once he's
50% through?
Where does the self pressure start?
So like, it's going to be a game like that,
but a part of me also just wants to sit back and respect the pump right now
because the, the bump is quite strong.
I mean, look at this. It's really,
there really haven't been any drawdowns substantially since 3,400 on August 2nd.
So we're basically 11 days of effective up only for ETH.
I do also want to be wary.
Funding rates are getting pretty high.
Jeep's pointed this out this morning as well.
Bitcoin is decently high.
ETH is very high.
Farcoin had a pretty high one.
It actually looks like it's been reset a little bit.
I think there was something like Solana added
nearly $2 billion of open interest in 24
hours. So everyone was like,
we're going to move to Solana straight away.
Yeah, I would be cognizant of that.
I remember this when
Bitcoin started moving towards all-time high.
It gets very volatile, even if
it's been very, very strong. It'll probably hit all-time high or very close to it and then go back. Hit all-time high. It gets very volatile, even if it's been very, very strong.
It'll probably hit all-time high or very close to it and then go back.
Hit all-time high and then go back.
That's just the way it works.
And I think when every single person is saying,
Hey, I've got a 10x long and hyperliquid for ETH to hit all-time high.
ETH to hit all-time high. ETH to hit all-time high, it's like,
what, 4%?
Yeah.
Well, one stage this morning.
Just know the trade that you're in for.
Switch to Bitcoin like me.
Free money.
Let's talk about that a little bit.
Bitcoin had been
in this 117 to 120
range for a decent
stretch and three weeks
fell out of it, got
right back in. I think it was
a question of are we just going to be back in the range
or are we going to blow through it?
Do you have a read on the near term?
It's at 122.2 now.
I actually, you know,
the reason why I've moved back to Bitcoin
is because the volatility has been very, very low recently.
And I think you could have one of those like nuke style,
everything gets smashed moves,
but Bitcoin wouldn't really be affected in it.
And Bitcoin dominance was just below 60%.
I can imagine going back up.
So I think I'm really in Bitcoin because it's been ranging for a while,
but also I know that in any sort of dip,
I think it would really outperform.
and,
and then in that dip,
I probably look for like the trade again,
you know,
what's the trade?
I think that makes sense.
Yeah.
We're seeing it.
Bitcoin down is up 0.5% here today,
though it is in a downtrend from the local high at 65,
66 in late June.
That position makes sense to me.
It's also, I think the thing about Bitcoin is I feel like no one held ETH for sure,
but it also still feels like not that many people
are in Bitcoin as well.
And even some of the folks who perhaps casually were now
are also moving downstream.
There's already calls.
There's a lot of calls for alt season and a broader alt season.
So folks want those bigger returns.
Yeah.
There's no doubt in my mind that at one stage in the next two weeks,
you will wish you were in Bitcoin.
And Bitcoin dominance will go back up.
And even if it's on a downward trend, there'll just be a moment.
As we approach all-time high
and all coins are breaking out to new highs
on Google search trends,
there's going to be a day when that happens.
Or you're going to want to own stables,
but I'm guessing it's going to be more Bitcoin.
I don't want to scare you,
but you have to appreciate the volatility of assets
as they approach all-time high.
It's the same with every single asset out there.
It just doesn't go to all-time high
and then just keep on going.
Nothing ever does that.
Sage advice.
Looks like he dropped the bomb
and then logged straight off.
But you know what's interesting to me about that up-only stuff,
which ETH has been, as you noted, for the last 11 days or whatever?
Take a look at that fear and greed number you've got listed.
It doesn't feel that greedy.
I actually was thinking about this yesterday
and hadn't looked at the number until you just showed it there.
I don't know.
It's clearly not as bad as it had been.
I mean, the last time ETH was near all-time high or whatever,
this had to have been extreme greed for sure.
Oh, yeah.
Yeah.
Yeah, I mean, I think the other one um is at 73 so a touch higher
but i mean this is in line and still like again like every single pullback we've had
in the past what feels like quarter there's loud cohorts are calling top like it happened again
like last week in that bitcoin pullback like i remember, I didn't even start bookmarking all the tweets,
but it continues to happen.
And I think while some things like late longs piling into ETH
does feel a little frothy, right?
And it's literally going up every day right now
for the past week or whatever, 10 days, feels frothy.
But the rest of the market isn't really necessarily all that frothy.
We're starting to see some meme action, some alt action.
It's definitely not universal.
I don't know if you had any additional thoughts there.
Yeah, I don't know.
I mean, I think you're right.
I don't think it feels universal.
One of the things I'm thinking about, though, more is you have this institutional bid that
is perhaps the strongest catalyst, likely the strongest catalyst for price up right now.
Do we need to see all season? Do we need to see on-chain stuff go up for it to be a signal that we're approaching top or something like that?
I hate to be the guy who says it's different this time.
It is likely going to be a
little bit different in some way shape or form like the top signs may not be as obvious as they
would have been previously because the participants are way different the funds the demographics are
way different so i don't know just something i'm thinking about uh you know i but at the same time
yesterday i said to myself you know i need to get some more funds on chain uh to potentially be ready
for you know something that comes and then yeah i don't know playing both sides of my head i guess
preparing for if and when nothing happens there well i think we've seen now we've experienced
these meme cycles since what december 2023 and it feels like they come when majors are hot or
right after majors pump so like you want to be ready for that.
And it's a little bit of the muscle memory right now.
We're seeing some signs of it.
So I'll pull up the Salon and Mean board here briefly.
I mean, it feels like spotty.
So this new orange coin came out.
It hit like $15 million in the first few hours.
So a $10 million runner.
But it's already back down to eight i mean the coins that had been running i think we're seeing more tokens get
to like that 40 50 million dollar range than perhaps we were a month or so ago but this board
also doesn't stream like wow everyone's getting rich and you're not like that's not what the solana
meme action is indicating by there's also there's no clear meta here is there no i don't see any
obvious parallels between any of these tokens aside from you know the vast majority of them
being pump tokens right or i guess a lot of these are just duplicates in different pools
i think that the one meta that can maybe point to is the Launchpad Wars.
And the Launchpad teams or Cabal is kind of getting behind one or two tokens per week and trying to run those up.
And I think we've seen some instances of that.
But also, I think Sheep with Hat, Swift was kind of in that for the bags.
I think that was a bags token, if I'm not mistaken.
And then you saw what happened yesterday.
This thing was totally rugged, down 80%.
So there's some mines out there in the meme minefield right now.
So I don't know.
I'm still itching to really get back in. Just jumping in two feet.
I'm playing a little bit.
I'm watching.
We've been playing or at least monitoring that Juggs token from the Moonit team.
It looks like something is happening there.
So it came out.
Moonit had a very big first day.
It made a splash.
And then it got pretty quiet, objectively, after that.
And I haven't seen a whole lot of chatter
about new moon at tokens but this was the first one they had that ran up it got past 10 million
the first day it's up 30 now back at the five or six some folks think they might be rallying
behind this one so some signs of life in the launch pad wars but not universal by uh by any means have you uh have you checked have you been watching
any base stuff diler i saw some tweets about banker again this morning i can't remember from
um i've been casually watching some of like the base ai tokens okay yeah amid the zora stuff it's
i've just been refreshing them a little bit more. Of course, we talked to Eli yesterday about Abstract too.
Some more of these Ethereum adjacent things.
But yeah, I think Mexico said yesterday,
like what Pepe hasn't even moved.
Like if you were talking or feeling
like you should be participating with ETH betas in some way
or that there's some ETH on-chain season coming,
like you would expect it to maybe start there.
We got some green the past 24 hours.
Doge actually had a really nice move,
which I think is a sign you want to see if you're betting on memes grinding up
and then the rest of the board followed a bit.
We've kind of buried the lead.
Barcoin, up 25% we said in the intro
it went all the way down to like 80 and that one bad wick
now back to $1.08, $1.10 so we've got folks like Blontz
running his TA he was calling for 130% move
on Fartcoin so let's hope he's right that would be
very welcome I didn't get the
fart coin bottom but i got close to it yeah very your entry was around 90 cents or so if i remember
91 91 and a half i think so nice little 20 move on that already um it was broadly consensus and
then it felt like some of the folks who maybe were kind of on the edge may have sold and moved on.
So I think that's kind of what we needed.
Probably need a little bit more if I'm still being honest before we get our
violent up.
I think,
I think it's in a good spot for that.
I spoke about three months ago.
Like,
how do you look at trades?
It definitely felt like Farcoin was over eight,
eight 50. Right. um and it's a very
violent move back and now it's probably consolidating deciding where it's going to go
and my guess is if it goes higher it's a bit more of a pain trade because i think a lot of people
would have sold that's that's actually my opinion here it is more of a pain trade because now you've
got folks who i mean this token's been around for
nine months now so there's probably folks who held it a very long time and have cut it yeah it does
not feel consensus at this point i think it's if anything it feels like it's not on my timeline at
all um far far different than it would have been you know even at two or three months ago or what
it was at like that $300 million mark or something
when I was streaming with you guys in Peru.
That was only a couple months ago at this point.
Then it had that violent move back up to $1.5 million or something.
I don't really remember seeing it since that time.
There's people saying the joke is not funny anymore.
The meme is dead
that's what we need
that is what we need
well Logan maybe working through some of these headlines
we got one out of Coinbase
yesterday they're launching this stablecoin
fund
curious if you can maybe talk to us about this
yeah so I wasn't paying attention
in 2019 when they apparently did this
at one point in time to provide stablecoin liquidity to DeFi protocols, just to help literally with bootstrapping liquidity, just as it says.
But they've relaunched another one for at least four protocols.
Interestingly, I think three of them, maybe all three of them are two, are Solana, Camino, Jupiter, Morpho, and Aave.
Is Morpho Ethereum? I think maybe only. So yeah, you see it right there at the top.
That's where they're starting. But they also indicated at the end that they are willing to
look and bootstrap additional, you know, more kickstart-y, you know, projects and protocols
that are looking to bring stuff on chain.
So just this enablement, this kind of goes hand in hand with that announcement from last week,
right, that they're going to start doing basically everything via DEX, which, you know,
corresponds perhaps to that arrow move upwards as well, which seems like a no brainer after the
fact, of course. But yeah, more and more stuff on chain. I mean, this has been a narrative they've
been screaming for a really long time.
So it makes a lot of sense.
It's cool to see for some of these protocols,
the DeFi in particular,
one of these sectors I think is catching up,
but never really gone away,
but definitely catching up.
I see Aave like approaching a pretty near its all-time high
or getting close to an all-time high.
Maybe I'm making that up.
No, you're right. And one of my quants has been calling for Aave to do all-time high or getting close to an all-time high. Maybe I'm making that up. No, you're right.
And one of my quants has been calling for Aave to do all-time high as well.
Yeah, it looks good.
It's a nice-looking chart.
Coming back to this, so I guess my initial interpretation,
and I didn't dig in, was that they were going to effectively put stable coins
into these protocols to to boost tbl
effectively but it seems like there's a lot more to this so are they like investing in these teams
like what's your read on what they're actually doing here i'm not sure you can count this as
an investment i do think it is more just to deepen liquidity on the protocols themselves. I quite literally bootstrap these liquidity funds across those four,
let people make DEX trades with better liquidity, less slippage,
whatever you want to say.
I don't see them as investments,
though I believe Coinbase has made some investments
in some of these DEXs previously.
Well, they have Coinbase Ventures, and they're active via that.
I was just curious exactly what they were maybe planning with this.
Maybe we'll see.
But, yeah, nice little headline from Coinbase.
There's another interesting headline from Coinbase yesterday as well.
One that hits home with this crew pretty strongly
and that was uh wreck drinks tweeting out something is brewing with the blue wrecked logo and then we
also got the base account retweet who's thirsty all right do we know what's coming here mando do
you have any uh any alpha for us for for what we might be in store for?
No idea. Literally zero idea what's going on.
No. I think you can probably guess what's going on here.
But yeah, there seems to be a partnership between Basin and Rekt.
You love to see it. It was interesting to me, so I saw this.
I actually missed it when it came out. I think I was out with the kids. And we had the something is brewing. And it was the teasing a potential collab with base. Then base basically just confirmed it. So something is indeed coming. We're excited for this.
Binance was a more limited sale, right?
Like on the spectrum of how many cans were actually sold.
So I think the market might be hungry for a bigger sale.
Hopefully if you're listening,
we want to get our hands on some base blue
headed into the end of summer and early fall.
So be on the lookout for that.
I think the REC token had a nice little rebound yesterday as well.
Working through some of these other
headlines here, Pump just continues
the buybacks.
And I've seen mixed
numbers on this,
so I need to confirm.
But from August
11th, August 12th, their holdings
jumped by, the buybacks
amount jumped by $11 million.
So I saw reports that they bought $11 million in pump in one day.
That doesn't line up with some of the other data I've seen,
so again, I need to confirm that.
The official team dashboard says they've purchased $34.76 million in pump.
So this dashboard's a little lost.
That's what the team dashboard says.
All right, we'll go with that one.
Yeah.
With recent purchases, though, being quite strong,
as, of course, revenues have gone up as well in the last few days and weeks.
Speaking of pin trades, this one is on the top of that list as well.
Everyone who's on Hyperliquid got liquidated
and Allen didn't say anything for two weeks
and then they came out, ran out the buybacks,
still without any formal announcements
of how they're doing it.
And now the token is just grinding back up.
It got back to ICO price yesterday
at that $4 billion level.
There's actually a very interesting myriad market on this,
which is the pump versus fart coin, which will have a larger market cap at mid August.
So this resolves.
Okay, I guess this resolves on Friday.
This one has flipped back and forth several times.
Pump has a pumps up 95 to five.
Interesting.
So how is this resolving from?
This is going off of...
All right.
Oh, Gecko Terminal.
So let's look at what the market cap is on here.
So they're saying 1.37 billion market cap.
So I don't know.
Another 25% candle on Fartcoin and it flips it.
So 20 to 1.
Fart, I kind of like those odds.
I'd take a look at this market here later today.
So that was a story that jumped out to me.
We have CryptoPunks.
They briefly hit 250K yesterday.
A few listings came in slightly under that level.
But these things have been up and to the right.
And with Mando rotating ETH to Bitcoin, I'm curious, are we going to see any rotation into the safe haven of CryptoPunks, or is that still too ETH adjacent for you, sir?
I think that Punks and NFTs are maybe not just an
ETH adjacent trade
I think they
we're going to see
more and more headlines
I think
I think you're going to see some big buys basically come through
I think they are
and also like when
ETH starts to stabilize normally around all time highs,
you,
you start to see NFTs move.
So I don't think my,
my personal view is he could like be in this four to five K or maybe five and
a half K range for just a little bit here.
and that's not bad for NFTs.
Historically, that's how it's worked.
It's typically quiet,
perhaps even dipping in ETH terms
while ETH just rips.
And then when ETH does get to its new level
and consolidates,
that's when the wealth effect kicks in.
And then people also start looking for
how do they stack more.
And that's when NFTs have historically shined.
Man up 3X now from, or 4X
from the April bottom. 3X from the late May
bottom. So it's been a heck of a trade. The board,
we've seen some sales. It's been a little quiet. Some of the female companions
were moving here this morning,
if we look at some of the action, but nothing too crazy.
It does seem like anything aesthetic at all is getting lifted right now,
and the four might need a sweep to get a little bit more interesting.
Some of those headbands near the bottom look pretty nice.
The female headband.
Yeah, I've been chatting about this with some of the guys.
I don't know what the stigma is around this female headband,
but no one wants it.
It feels far too nice to be within.
I mean, it's basically on the floor.
Yeah, I like the headband in second row also with the sunglasses.
I like that one.
Yeah, I mean, there's some decent stuff around the floor, I guess.
I missed the gold chain.
Punk's LTC, interestingly, put a tweet out.
I don't know if this is narrative following price action,
but he commented on how many gold chains are on the floor
and put it as a commentary towards how the new generation
is basically abandoning gold for digital gold
and that old school gold
is now frowned upon as a trade uh which i kind of thought was tongue-in-cheek but i mean it's
actually it's kind of showing up here i thought gold chains were a more coveted punk trait
so or i don't know if someone else has been hoarding these and is putting them on the floor
and there's more to this, but, uh,
I have,
I have a kind of maybe a non-consensus to you,
which I think maybe punk agency shares, which is that,
you know,
if you're going to spend 250 grand on something,
increasingly,
like some of these punks just look really mispriced if you're just buying
like bad traits.
So you've got to,
you've got to want a punk that like somebody would actually want to own.
Do you know what I mean?
They're not just like just an asset to own.
So I,
and I quite like gold change.
So I kind of agree with this,
like that's something that I imagine people would,
would like move to buy.
But I also think that some of the mid-range punks like a punk which is worth like 400 to maybe maybe even like some of the hoodies
they just look like the wrong price because i'm just like who would actually want to own that
punk like they just look bad um and i i would be it's some people say like you know it's like
you want to own uh you still want to own the worst house on a good road, right?
Because it's location, location, location.
But I don't think it's the same with parks, right?
I don't think location is necessarily that strong a trend for me.
If you're going to flex on a, like, if this is a digital Rolex, the Rolex has got to look good.
It can't just be rare, in my opinionlex the rolex has got to look good it can't just be rare in my opinion i think it's got to look good i think the hot take makes sense
um and when i've gone through the buying process i definitely look for ones that i like and think
look good as well versus just buying stone floors i can see that becoming a bigger deal as the floor
goes up a bit as well.
I've also seen the commentary that only like 20% of the punks actually look
good.
And there's a lot of this terrible trait combinations out there.
I think when you dig in, there is some, some truth to that.
Like there are some, some fairly ugly ones on the board.
Coming back to your prior comment, it really feels like we're going to get a fund move in on pun board. Coming back to your prior comment,
it really feels like we're going to get a fund
move in on Punks.
There's so much ETH buy pressure.
I tweeted this out.
You have 0% chance of becoming
the number one ETH treasury.
It's over.
Tom Lee is the front runner
and maybe Joe Lubin and Sharplink
have an outsider's chance.
But that's number one and number two.
No one else has a shot at this point.
It's already over.
You have a shot to be the number one punk treasury co.
And whether or not that's a wise decision,
people are going to see that, I think.
And I do think that is coming.
And we're starting to see glimpses of it,
of more NFT treasury co action here this morning. So I think this that is coming. And we're starting to see glimpses of it, of more NFT treasury co-action here this morning.
So I think this one caught some.
This had their latest announcement and partnering with Azuki.
As I understand it, they are receiving two and a half
million dollars in anime coins as a part of this partnership and they are effectively going to
become like a marketing arm for azuki in anime and as a part of that they've also agreed to market
buy two and a half million of anime coins so they're being given two and a half million and
they're going to market by um so i think from that perspective, you see how they can get a return on their investment
potentially as long as the anime token doesn't go down more than 50%. And then from Izuki's side,
you get perhaps a loud voice to help in the marketing. I'm curious if Logan or either of you had thoughts on this one.
I haven't really had a chance to really digest it too much yet this morning.
Yeah, I didn't go super deep on this.
You know, the anime coin, of course, has been, as you're showing here,
basically down only since its launch.
But I still do believe that as far as NFT collections go
and NFT brands go,
Azuki maintains one of the more high quality.
I shouldn't necessarily say the most lauded or anything like that,
but in terms of quality around the brand,
surrounding the brand,
I do think it stands out probably in the top three or four
um with pudgy punks apes you know azuki probably in there right um it's just been difficult to
really i think envision this flywheel like what we've seen pudgy and pengu do right i think anime
provides the same sort of opportunity um but we we haven't really seen it really play out uh quite like
luca has done perhaps that's just because there's too many moving parts it's not final yet maybe this
is the first leg of that but um i think there's a lot of a lot of explaining to do about exactly
how this you know interplays with the izuki and anime ecosystem i know they want to make it this
big decentralized anime thing.
Anime, of course, is like a massive, massive market.
I don't think they've been tied together super well just yet.
With all that being said, it's an interesting opportunity.
Should they do it?
Look at what Pengu's done, right?
We'll see.
A few thoughts.
I'm not conversational in what
the anime foundation and anime corner doing like the progress they've made against the
their their anime series and i think that's part of the problem right like is anyone
conversational in what azuki and anime are doing right now above the you know the single headline
view that they're building an anime series. And I do think this is still
one of the stronger IP sets. I think
there's still a lot of Zuki PFPs
out there on the timeline.
Far more than Doodles.
And I think they've got a stronger
community than Moonbirds. No offense to
the Spencer crew, but Spencer's new.
He's building this up now. And there are
reasons to be excited about that ecosystem.
But I think it's fair to say that the Zuki crew has been through more and has been around longer than that cohort.
So I think there's a foundation to build on, but it just doesn't seem like they've been doing a whole lot.
That's kind of just my read.
But where this gets interesting is if you think we're going to have an NFT season and punks go off
and Pudgy goes off, people
are going to look for betas.
And Izuki is going to be there.
And this anime coin, I think, is also going to be
there. I mean, this thing is trading
at $100 million right
now.
How far is it off all-time high?
So, okay, so market cap
terms, just to get to the local high? So, okay, so market cap terms.
Just to get to the local high in June, it's 150% move.
I think people are going to look at that.
So I think this is an interesting trade from GameSquare.
I think investment is a little tricky of a word.
I'm not sure if I would throw that in just yet.
But I do think there's perhaps an interesting trade on anime.
So we'll see.
Maybe Game of Squirrel will be the one who lights the match.
Logan, I don't know if you had a chance to look into this, but there is actually a fairly interesting NFT mint taking place tomorrow.
So D's put this on my radar.
Please put this on my radar.
We talked a little bit about it on Underexposed yesterday.
We talked a little bit about it on Underexposed yesterday.
But Snowfro is dropping a long-form generative art tomorrow.
It's built on art blocks.
I don't know if anyone in the comments knows
if this is officially an art blocks collection or not.
I'd love that info.
I don't see it here in this post, but it's called Lift Self-Portrait.
It's going to be an english auction
it's going to start tomorrow at noon eastern a thousand pieces in the collection i don't know
if we have a whole lot of examples of what it looks like just yet i'm curious if you had a
chance to dig in or any any thoughts or takes on this yeah so i i just read through this and we
were chatting about it a little bit before the show. You know, I think the time for, if there's going to be a time for like art, not necessarily even art blocks in particular, but art NFTs, you know, it's going to be projects. So I think timing is exceptional here.
Art Blocks, of course, strong brand.
And then Snowfro, I mean, you can't really do too much stronger.
So I think you could obviously do much worse.
I went digging just to look at the squiggle action.
And I pulled that up this morning and I was surprised to see
of course a lot of it is buoyed by
the ETH run but these are
$30,000 close to
$30,000 at this point in time and if you
scroll back just a couple months
you could have gotten them for $6,000
$7,000
which is pretty wild
so interesting because there are
collections with ties to Snowfro.
You could make the case that this is kind of a bookend piece,
even if not included in the AB500,
like a bookending piece of starting a new chapter for art blocks and stuff like that,
which perhaps adds some provenance.
I still think I'd rather probably just buy a Chromie Squiggle,
although, of course, price is not going to be equal.
I don't think these Lyfts are going to go for $29,000 or whatever.
Yeah, $28,000.
So interesting.
You could do a whole lot worse.
I think you're going to need to see some of these mints.
This tomorrow could be a really good barometer for where our NFTs actually are, where NFT mints actually are.
It's very difficult for mints to do well.
A couple have dropped some excitement recently, but not to the scale, anywhere near the scale of even the tail end of the last NFT run.
The Squiggles is interesting.
We haven't really given them enough love on this show.
So I'm looking back at this price action now.
Wow.
So these hit $6,000 USD in that April downtrend when ETH fell.
They were $9,000 a month ago.
Yeah.
Now up to $28,000.
The all-time high is around $36,000 to $40,000.
36 to 40k very briefly in the art block summer of 2021 they haven't really maintained above 20k
Very briefly in the Art Block summer of 2021,
for very long but this feels like this feels like a miss a 6 000 for like yeah i understand
that was probably what with eath at like 15 that was for e so in eath terms it wasn't as crazy
right but yeah in USD.
When you look at it in USD, which I actually really like that OpenSea is showing things in USD now,
that may tamper some of the mania, perhaps,
because I think the ETH denomination stuff from 2021 just let us get out of hand a little bit, right?
Like 10 ETH felt different than $30,000 or whatever the case may be um but i do like that they're showing it now um all that all that being said i do think
it could potentially dampen a little bit what these could get to nevertheless it feels like a
miss at six thousand dollars for like the premier Artbox project.
If you had any sort of,
if you're going to create some sort of category about like nostalgic NFTs,
I mean, it's not as deserving as a CryptoPunk.
It's not an autoglyph.
It's not anything like that, but it's near that tier, right?
I mean, like, I don't know.
Eight squiggles or one punk
one punk probably yeah i think i'm there too um could could squiggles get to a hundred thousand
dollars a cycle i think that's in play yeah a hundred thousand well i mean it's all eath
dependent right so it's tough i don't know i really need
to see what happens with this whole like how it's received i feel like unfortunately uh not through
necessarily poor intentions but just like the art blocks brand just got diluted a little bit
because of the the projects and like the factory and all the playground and all that stuff um
but now that's over so so let's talk about,
we didn't really talk about a ton last week. Artblocks 500.
Yeah. So basically wrapped up all those projects and they are,
they're, they're bookmarking it. You know,
they're kind of creating this index of, okay, here's the 500 projects,
AB 500. Nothing else is going to be added to that these you know represent a moment in time and all
these distinct projects and collections from the course of the last few years uh and anything you
know moving forward would be kind of standing on its own so it is trying to create that stamp of
provenance the stamp of authenticity and and hopefully the uh the you know there won't be further dilution both in terms of
actual projects but also too just in terms of like sentiment around it um that gets attached
to this brand so yeah five years 500 collections um man that was such a wild time and so many of
them are so low in supply and illiquid i I think that's one of the benefits of Chromie
Squiggles and it's the index bet, right? If you want to bet on Jern of Art, on Snowfro,
on Art Blocks, how are you going to make that bet? And Squiggles is the easy entry to it.
You could buy Finances at the high end and we've seen those run up. We talked about this a little
bit on Underexposed. I think they're at 44 E right now and it wouldn't surprise me to see those
flip punks just because of the supply
differences. I still think I like punks more on a longer term
time horizon. Perhaps a little bit safer.
But if we get funds that come into punks, I think we will also inevitably
get a fund or two gets into squiggles,
I think is my take on that.
So we will certainly see.
I saw some comments from the chat that it looks like because this wasn't,
this meant with Snowfro was with Glitch, it will not be our blocks.
So good to know.
I still think there's going to be some decent price action on this one. So I think if you
are here and looking for trades and looking for
new mints to watch,
it's one to look out for. I mean,
we had those little trippers run from 0.03
to 0.25 in the past
week. We had these crypto fish,
which I still don't really know what this project
is even. I think it's literally just
fish JPEGs that are
ex-cop copy minted.
They're at .258. That's $1,000.
I think they're minting for near zero.
There is some action to be had.
I think folks will be lining up to mint this one.
English auction, so we'll need to see what the
prices are.
Expect some demand on
that. I think that was
mostly my list. Logangan was there anything else
that you wanted to touch on here i don't think so um no thanks for having me this week it was good to
to hop on a chat um i i do think need to be spending a little bit more time on chain
uh summer perhaps behind us i know that may be that may be consensus right everybody kind of
feeling a little bulled up because of the ETH price action,
but time to spend
some time on Chain, perhaps.
Lock in. You can go to Ibiza next summer.
I don't think...
I think Tyler
on Chain, like, 100%
of the time.
Tyler might need to spend less time
on Chain. The rest of us,
the rest of us,
perhaps just announce more on chain.
Don't tell Tyler to lock in even more,
man.
He wouldn't,
he won't see his kids.
Yeah.
Tyler,
I think you've got it covered if we're on chain.
Just put the,
put the CAs in the chat for us all to get on board.
Deal.
That is a good deal.
Well,
folks, thanks for joining us here today.
I want to thank all of our listeners.
I want to thank my co-hosts.
As always, thank our partners.
Farouk is back tomorrow.
He is back.
We're excited for that.
I think we've got a special guest tomorrow as well,
so you'll want to tune in tomorrow at 10 a.m. Eastern.
Until then, make it a beautiful day.
Goodbye. Thank you. .
