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FOMO HOUR: WE ARE SO BACK.
Recorded: Jan. 6, 2026 Duration: 0:59:19Space Recording
Short Summary
In a dynamic crypto market, major developments include Morgan Stanley's filing for Bitcoin and Solana ETFs, Bank of America's new crypto investment strategy, and Trove's upcoming ICO. Additionally, Ethereum's advancements in solving the blockchain trilemma and significant growth in meme coins and NFTs highlight the evolving landscape of digital assets.
Full Transcription
The End Thank you. All right, let's kick it, Charlie. Thank you. Yo, yo, yo, yo, yo.
What up?
What up?
Good morning.
Good morning.
Tuesday.
January 6th, 2026.
Woo.
1626, baby.
Look at that.
Another beautiful day to have a beautiful day.
I got my co-host in the house
tyler amando good morning good morning good morning how are you guys doing today
fantastic man how are you i'm doing okay i'm doing okay we're surviving we're surviving you know
still fighting this virus kick his ass you know kick his ass you You know, we'll kick his ass, you know? That's all that matters. Tank top season's back.
Putting a workout in.
That's it.
Tyler, how you doing?
I'm good.
What a start to 2026.
Just grinding up.
Lots of green.
Would you not be fired up right now?
Mostly bad, right?
That's really it.
It's crazy how, you know, sometimes we don't admit it,
but it's crazy how the market is directly correlated to one's mood, attitude.
We do show up in the barest of bears, us three.
We're known for that.
But, you know, it's nice when the market's up, you know?
I need that mood ring.
That just is green when Vic is up and it's red when it's not.
And Phelps can just know what my mood is by
looking at the the rings it's very accurate i love that i when i used to wear the oaring i
worked for two years um when i was in the big trade i would get through so much daytime stress
in the indicators like i said a big position on big whatever it was and i would notice that in a
big trade versus not
so it definitely, there's something
whether you're in a winning trade or not, it was just
a sizable trade, I could be green
I would still have that daytime stress
that the Oura Ring was showing me
so it is correlated
and let's say that the timeline also
feels so much nicer
we love to see that, the people are here
we did 5,000 views yesterday on the
show. Tyler pointed that out. We doubled the numbers on the day back already. So looks like
it's going to be a great and bigger and you'd love to see that. With that being said, another show,
we'll go through the markets, which are ripping. Are they cooling down for now? I don't even know
if they're cooling off because they're nice. They're nice and stable strong um tyler's top 100 a few things we could even talk about yesterday
because we're back like we're back meaning in every level there's a lot of news all all aboard
so a lot to cover yeet the first winner yesterday oh yeah that was a banger winner
thousand something bucks so love to see that use the code fomo hour on yeet.com and uh and
mando's here today so he's gonna he's got you on the rtp so if you
went today you're gonna go far on lamb chop i feel it i feel it and with that being said
mando let's go to you Who is the man, macro daddy of the land?
Can you dig it?
GM, everyone.
So we've had a little bit of a melt-up again.
Things looked fairly strong, particularly in the riskier bits of the market again.
Suddenly just felt like everyone was getting on board with meme coins,
fart coin, up to 450 uh whiff moved i think these are like the maybe the stragglers compared to some of the other movers recently
um and they just started to catch up so you've got a bit of a catch-up trade there
and then you've had bitcoin kind of float with 94k again which is which was the previous like
again, which was the previous
point of resistance.
Sorry.
Sorry, of resistance even.
And that was
not being rejected, but we're just hanging
out around it to the level. I still feel like it's
a good chance now we break through it,
given it's not the yearly open anymore.
Yeah, I just think we have a good
chance of a run here.
stuff is up. Bitcoin dominance continues to drift slightly
lower here um it was trading about 60 percent in the last week of december and it's now down to
like 58 percent so it's definitely people moving into meme coins uh and altcoins catching some
sort of idea that this is going to be a bit of a move from depressed prices, I think.
Macro stocks hit all-time high yesterday.
Gold's moving back higher again.
Generally, everything was pretty good on the macro front yesterday.
So there's nothing there that's going to disrupt us.
We have some employment data on Friday, but I don't see anything on the macro picture that's currently going to derail us. We have some employment data on Friday, but I don't see anything on the macro
picture that's currently going to derail us. That's never really been the issue for crypto
the last few months. It's just been a case of performing what's been a very strong macro
picture. In terms of specific institutional headlines, Morgan Stanley filed for some ETFs today which is the first major bank
I would say to do that
they do have
quite a big fund division so
maybe that makes sense
and getting involved
in the fees business but maybe
with more and more of these banks getting involved
we'll see a reduction in fees across the board
for some of these Bitcoin
ETFs and whatnot I did see a reduction in fees kind of across the board for some of these Bitcoin ETFs and whatnot.
I did see a headline today.
We said that TD Karen said that the market structure bill could slip until 2027.
That was seen as a thing that could happen in Q1 as the main reason that we would rally.
There is an expectation that maybe if it does happen in Q1, it's not happening before midterms.
And then it could even drift off to that.
So that is something to just be aware of, because I think that is pretty key for crypto in the US.
We really want to try and get that in before the midterms, Which I don't think is the idea.
Who was reporting that it may not go through?
I saw the headline, but I didn't see
the substance behind it.
T.D. Cowan.
He's a research house.
Interesting.
What are we thinking?
What are we thinking?
Those midterms, obviously, is going to be the recruiting conversation for the rest of the year right until november you're
gonna hear the term midterm like maybe 5 000 times on this show and across all different
shows that you're gonna listen to first week of nov right exactly at the halfway mark
donald trump's approval rating is hitting highs uh the Venezuelan takeover, whatever you want to call it.
I'm assuming following that, right?
Because it was right the day after that the approval rating spiked up.
It looks like maybe it would have bottomed at the end of last year because the sentiment was pretty bad.
If we were to chart it, at least, it looks like it was kind of a bottom there.
How do we feel?
For me, my input, my take on this market is if this run is sustained, we have a good Q1.
Sell off in the summer like we always do because I never believed in selling may but i always get wrecked in may so this time around it's not different i'm gonna believe this time
um and i think probably chop into midterms and if this midterms are locked i think we're gonna
have a really big end the year into 27. yeah, I'm still not
overly, I've told you, I'm not overly
concerned on this market.
So I'm still in the idea
this is a bounce from a downtrend.
I would want to see Bitcoin
reclaim like 100k and
from there to really be like, this
is going to be a bit of a move.
I think this is the sort of part
of the market where
it's clear people are still
showing up. So CT's still
here. We still want to gamble on
shit. So there will be something that happens
over the next few months where it'll be like,
oh, this went and did 100x.
I think that's kind of
a given. I would definitely keep your ears to the ground
here because it feels as though the people who are still
here want to FOMO and shit.
Clearly. And a new narrative
could catch fire very quickly or
just like a new coin, something
new, you know, I think could
really catch fire in this sort of an environment.
Generally, I've never
made money buying
relief
sort of rallies because
I find it very difficult to work out
where you would take profit and where
you would cut.
But I do think that this
relief rally is at least going to 100
on Bitcoin.
Okay. I like that.
I like that. How do you feel, Tyler?
It's tricky.
I feel like we're in a little bit of this kind of wait and see mode kind of waiting
for some cards to fall some more potential catalysts um i still think the primary bear
case is four-year cycle we haven't shook out of that yet we have to to go higher to break out of
that i think we've got some new bull tailwinds. As I said on yesterday's show, stocks are also somewhat fragile, trading at all-time highs.
You have to be conscious of that as well.
I think I'm still probably the most interested in the new vector I still think is trumping any big moves out of him in early 2026 ahead of midterms and doing what he can to fix his approval
rating and set up the R's for the midterms.
Like you,
like you mentioned the odds haven't really budged and it's still dims are
still 78% to take the house,
which is going to be a blocker for a decent chunk of what he may potentially
want to do for the second half of his term.
So it is a big deal.
Things like the crypto market structure bill, is that going to face much more headwinds
if it's not done before that?
So there are a few things to watch there.
Crypto market structure bill, though, if they do get it through, that could be a catalyst.
It could be something that shakes us out.
They seem pretty bullish on its passing, right? You hear Brian
Armstrong talking about it quite a bit and a few other people that are involved,
Yeah.
There's even, what's his name?
The guy from Shark Tank.
He wears the suits.
Mr. Damon John?
Mr. Wonderful?
Mr. Wonderful. Not him.
Crypto talent. No, not him, dude. O? Not him. Crypto talent.
No, not him, dude. O'Leary.
Yes, go to O'Leary.
He's saying how...
He thinks all the real money
comes after the crypto market restructure bill was passed.
Really interesting.
I'm not a biggest fan of this guy, but
I'll take that because it's good for my back.
Understandable.
Do we need to talk about
how XRP is just melting faces?
Wait, what?
XRP is the big
dog. I have not done that.
Let's see.
It's a meme coin, right?
It's whatever, but it's definitely not.
It's whatever it is. Yeah, a meme coin, I guess.
USDT. 29% year of date. That's pretty it is. Yeah, MemeCorn, I guess. XRP,
USDT, hold on.
29% year of date, that's pretty much... Whoa.
Damn it.
Dave Portnoy is a big XRP bull.
I had actually checked.
I forgot.
I saw an interview with Santi
over the holiday period
where he was talking about XRP.
And basically about the fact that, like,
they have this massive treasury
and essentially they are not doing
what they originally said they were doing.
So they're, like, diversified the whole fucking business.
So actually, although it's not,
it's clearly not the swift banking system they're
now like they've got stablecoin they make all these investments into into different things
around rwas not even on like xlp like they're making like these plays essentially they become
like a crypto company almost and like now i don't think they have a buyback model
in any sort of way.
So I don't feel a little bit loose to say that.
I mean, they're definitely selling.
But somehow this keeps going up.
They have their ETFs now.
They're getting inflows every session.
These guys are geniuses.
That Brad Garlinghouse guy,
gotta give him his flowers. Yeah. Made out the mud. Made guys are geniuses. That Brad Garlinghouse guy, gotta give him his flowers.
He just...
Yeah.
Made out the mud.
Made out the White House.
Billionaire.
Has never bought crypto in his life.
He's only sold.
And how much is he worth?
Probably a lot.
What do we think?
Like...
Okay, estimate 10 bill here
three to a half
it's hard right
to estimate
I would have said
over one
probably
I mean he has a
6.3% stake
in Ripple Labs
and Ripple Labs
is like up only
XRP is 237 billion
yeah so there you have it
three and a half
to 10 bill is
probably accurate
yeah
wow damn it's true they raised So there you have it. Three and a half to ten bill is probably accurate.
Wow.
Damn.
It's true. They raised a $40 billion valuation in November 2025.
Okay.
We kind of
over this, but
the ETFs are back.
Are they?
$6 million yesterday.
$470 million. The session. Bitcoin, $670 million yesterday. $470 million the session before that.
$1.17 billion net inflow
the first two sessions of the year.
That's the biggest.
Yesterday's single biggest day
since 1010.
See, that was my...
I know my joke thesis around ETH
was the digital thing with Trump.
But the other one was people are coming back to work.
America reacted really positively in the economy to Trump's Venezuela takeover.
Markets are ripping.
Therefore, the ETFs are going to rip and buy a lot of crypto.
They were net sellers, right?
I don't think we realized, or I didn't realize how much tax loss harvest selling was happening.
Dude. in December.
I think that's what it was, right?
And not just the...
That's what was driving down punks for sure.
But probably a lot of these crypto tokens.
A lot of folks have a higher cost basis.
But you're not really allowed to tax loss harvest in the market, right?
So you can tax loss harvest your Bitcoin, but you can't really tax those harvest your iPad,
right?
but I'm the spot.
Yeah,
it's true.
You can,
you can harvest all,
all you want.
Yeah,
this is true.
So that,
that selling is done.
We've got funds coming back to the table,
starting to build their,
their ETF books up again.
I think Bank of America formally put out their 1% to 4% portfolio recommendations for their wealth clients that started yesterday.
So perhaps a bit of rebalancing taking place there.
Yeah.
How about selling?
That continues, right?
We're going to have to have some serious sell pressure. Yeah. How about selling? That continues, right? We're going to have some serious sell pressure.
Yeah.
To counter half a billion a day from the ETFs, I would think.
Dude, we're looking good, guys.
Oh, back over 94, all right.
We're looking really good.
I took my profits at 3,300 because that was my target on ETH.
And Farcoin targets were around like 420 to 450.
I'm happy, but it's really hard to resist
the FOMO, so I'm just waiting and seeing, but
I'm liking
what I'm seeing, lads. I mean, Mando, your indicators
must be flashing green, no?
Like, the Shikoku
fucking Haroku candles.
I can share
them if you like.
I'm just curious, are they flashing green or not?
Because Ethereum is up 12% year-to-date. If you like yes, like I'm just curious are they flashing green or not because
Ethereum is like up 12% year-to-date
Big ones up from 87 K to 90 something and the major They are on some but not on like the high
So if you go to like this
So this would be like the four hours It did break through when it went through
88k it broke through then
And this has been a previous level of
And we're now breaking through that which is like a
Very good sign
But that being said like the dailies
Got it
See this would be when like a real bull trend
Begins again
This is a daily Mando?
This is a daily chart?
This would be the
daily version, yeah.
What's the level?
I mean, that would be like 109k.
you see how far we've dipped.
So you can have, this is what I'm basically
trying to say, you can have a very big relief
rally here.
And it's still not
be a
bull trend
total
interestingly alt looks slightly better
like
that's total three so that's
altcoins
without bitcoin like they're actually
much closer to forming a bit
more of a bull trend
I'll go through some of the big ones but ETH much closer to forming a bit more of a bull trend.
I'll go through some of the big ones, but ETH
ETH actually broke
through on the daily. Interesting.
ETH actually looks...
I think 30, 30, 34
was a target. Like, 36 is doable, but
I don't know how much I got.
They solved blockchain trilemma.
Dude. One of the best looking
ones. Tom Lee mode
They laughed at Tom Lee all fucking Christmas long
So the only one that looks like that
On daily
Is there Solana you have?
Because they got the good news today
It's been performing pretty well
So I'm assuming it's the meme coins then
That got it
I guess we can add XRP just to see
I don't know. We have that.
XRP probably is so good.
Go write USDT after it.
There you go.
There you go.
I mean, XRP definitely will have.
Oh, wow.
So it looks like XRP and ETH are the best.
What about XMR? I know you were talking about this yesterday.
XMR is in a bull trend.
It's one of the only coins in all of crypto,
which still looks like this, right?
And it looks like it's about to break out some of these.
So really for that one, it was like it broke down on the four hour
and then now it looks like it's about to break back up again.
So I really
still like this one because
it's one of the few things still in like a
in and out trend
which is just breaking back down and then
has a story about to go up
there's barely I mean
Zcash is probably
one of the only other ones
that has that yeah Zcash
so it feels like the four horsemen you probably want to be looking at still are ETH, Ripple, Zcash, and X and Monero.
What about the memes?
Because they've been leading...
Rekt is breaking up on the daily too.
Dude, Rekt in the 16180 region
is where it really gets interesting.
It kind of tested that
not long ago.
Yeah, let me just put
Spark on this one here.
Spark has not
yet.
Doge has not yet.
So the level, you notice those levels for it to break are like pre-1010?
Like on Farcoin, it's around 600 mil that your level seems to be bull market indicator.
Yeah.
Bonk, let me just check Bonk.
Bonk just, actually.
Bonk just, actually.
So out of the memes,
the ones that look like they're breaking back up to a ball turn,
at least right now, would be Rex and Bonk.
Okay.
It's interesting.
You'd think some of the Pepe, Farquhar and stuff
would have broken it up almost two extra levels.
Well, you have to understand, like, look at this chart.
I know.
That is... You're coming back from far, right? almost two extra. Well, you have to understand, like, look at this chart. I know. Right.
That is,
you're coming back from far,
right?
Like a matter of perspective here.
interesting.
It still has not almost there,
but like going up 70% still.
So you see how tough it is to actually get to the level given the sell-offs um but that's a good sign for this is such a good perspective because you open a traditional chart you're like
yo we're back um this is some really good perspective like not to get overly excited
well i like this because it really narrows the field
of the stuff that you want to get involved
in any one time.
Wow.
And it also
gives you perspective
of like
buying things that are going to break out.
What about hype? I'm curious about hype because hype has been
a really good one.
Not even
Not even close
You would have to go to 35
What?
To be a daily
I mean look
It's broken through
This is kind of the point
I'm trying to say
This can go up
Like
It can continue to rally
You could be like
Oh hype's up 50% or up 30%, 40%.
I just find it really difficult to buy those
because the trend is just not a bullish trend.
This is a very bearish trend, right?
But you're seeing a bounce.
And what happens often with bounces is that they can either go up to here
and actually they can keep going or they just die.
They just die one day.
One day that Bitcoin drops 2%, this dies.
And then you go like, oh, God.
So particularly on crypto, just because of the pull to zero
with so many assets, I like to buy things when they're showing a longer-term bull trend.
Okay.
Okay, well, some good perspective.
Some very, very good perspective here.
So thanks for sharing that.
This has helped me a lot with my Farcoin trade, actually,
because I need to convince myself
it's not in the bull trend yet
Wait a little bit anyways on chain is alive and well
So I'm sure we'll go there in a second with tie Bitcoin 94 to
The theorem is hanging out 3300 so a lot. I'm not too sure I haven't looked shit. So long as that once whoa 143 Wow
Higher but still much lower than where it was.
Yeah.
So that mark, that 142, 133 mark for Sol has just been the one.
Like, it's just neat.
Oh, yeah.
That's something, right?
Like, it couldn't get over like 145. Remember?
Yeah.
I got to bring it up on TradingView.
Hold on.
Without the Mendoz, Kendall, Soul, USDT, Solana.
There you go.
Let me bring it up.
Boom, boom, boom, boom.
Here.
There you go.
See, it's exactly right there again.
There's your cup, Tyler.
So we're going to.
I see three cups.
Look for your hand.
There's so many cups there.
We're going to resolve so many cups on Solana.
Thanks to Morgan Stanley.
We pull up all these charts.
We've done a disservice to our loyal listeners.
We haven't pulled up the Bernie power lines.
Oh, let me down.
Oh, ladies and gents.
Mendo, have you seen it?
Today's chart?
I missed it.
Ladies and gentlemen, we have a chart.
Let me download it off WhatsApp.
There you go.
We have a chart for you guys.
And actually,
I apologize on behalf of the show
for showing you Mando's charts,
you know,
because he's the second best trader
in the FOMO hour chat.
We should have brought up,
you know,
Bernie's charts first and foremost here.
So let me,
let me,
Bernie's so redacted.
It's not even funny.
Where is it?
I can't open it anymore.
Hold on.
I'm trying to find it.
What's that image?
There you go.
Okay.
Are you ready for this?
There's a lot to unpack from this graphic.
All right. Here you go.
There you go.
Our quads.
There it is.
He took two days off for the holiday.
Is that what he's been up to?
That was today's chart.
He assures us that his portfolio is up net 25%,
his trading portfolio year to date.
He's labeled the blue lines,
his Bernie power lines,
which is an incredible label.
I have to say though,
his chart gives me a hundred K,
106 K vibes.
That's his biggest,
that's the big power line,
right?
Like basically as long as we're over the current blue line,
which is, I think think is probably right around
we should cruise to the next power line
at 100. And that's where the thing, that's where
we get interested, right?
Get to 169.
And when we go full
risk.
He's bought and sold
five times today. One, two oh my god dude yeah because yesterday
i mean this is a day oh it is a daily okay you're right so he bought yes a few days ago again he
held it at least until today sold it today bought again sold it again, sold it. Wow.
He's probably the next move.
So I think he wants to see us hanging out over this power line here at 94.
Oh, my.
Is that the sailor micro strategy chart?
That's so good.
Profit is profit.
It's true.
It isn't.
The power lines.
The other red guys and Chad just loving it. I feel like
94-5 is a big
psychological line in my head.
That was what, the 25
early open.
We've
kind of run up against it a couple times.
We haven't gone through it.
Then 100k will obviously be
one. And Mando mentioned.
I mean, Mando's line, the bowl line,
is actually kind of in line.
Who do you think Mando takes his alpha from?
Hello? Hello? Who do you think
taught my... Dude, two things
don't lie. Shakira's
hips and Bernie's lines.
Okay?
So there are two things that don't lie uh and so so bernie's got
us covered here i'm glad to have him as part as the support crew here in fomal hour chat
anyways that being said tyler i'm sure there's a lot to go to today so let's go to you
yeah folks crypto majors green again on the day Quality on FOMO. Our cause to kick it. We're ready to bash the bears.
Yeah, folks.
Crypto majors.
Green again on the day.
ETH and XRP are leading the way.
We got Bitcoin up 1%, 94,100.
We got ETH up 4%, 3296, right on 3300.
XRP up 11%. Wow.
238.
And Salon up 6%, 143. A few other top movers on the day. Render is up 18%.
Swee was up 18%. And Lit up 15%. After announcing their buybacks are now officially live. Market
like that quite a bit. So that Lit token got around $3.23. In some macro headlines here,
Morgan Stanley filed for their Bitcoin and Solana ETFs with the SEC.
Big move from them.
I think the first major bank to file for a Bitcoin ETF.
So very noteworthy.
Bank of America formally launches crypto recommendations for wealth clients,
1% to 4% crypto allocation for their portfolios.
And Goldman Sachs upgraded Coinbase to a buy rate,
citing their superior institutional infrastructure.
Meanwhile, Vitalik Vitor, he's claiming Ethereum has effectively solved the blockchain
trilemma by balancing socialization, security, and scalability through their latest roadmap.
And Ledger users, you should be aware, there was a data breach involving their e-com partner
Global E, which did expose some customer contact details there.
In token airdrop and protocol news,
Jupiter launched their Jupe USD,
stablecoin backed by BlackRock's tokenized USD funds
and Athena's USDTB.
PVP, the trading bot,
you may know this from Telegram,
they announced their desktop terminal,
desktop terminal HyperDash,
is now fully available.
Trove is going to be the latest ICO.
You probably saw this on your timeline.
Trove is a perp tax for collectibles, RWA's equities and prediction markets.
They shared ICO details yesterday.
I think they're raising $2.5 million at a $20 million FDV.
So one of the lower end ICOs we've seen that starts on January 8th.
And then River announced a strategic investment from Arthur Hayes Maelstrom Fund
to support their chain abstraction
stablecoin stack.
And memes, meme majors continue to
light it up, folks.
Whiff and Farcoin top movers on the day. Whiff up 14%.
Farcoin up 20%. Huge, huge
move. Wojak up 30%
on-chain. White Whale up another 20%.
That's knocking on $100 million now.
And Remus up, got to be knocking on $100 million now. And Remus
up got to be close to a million
now. What?
And this coin, 114514,
I have no idea what this is, but it
continues to lead on-chain
as well. And then Virtuals introduced
three new agent launch module models,
Pegasus, Unicorn, and
Titan. There's new ways for teams
to launch tokens.
On their protocol, virtuals, if you've seen,
has been one of the stronger performers so far of the year.
And folks, NFTs, even NFTs are back.
Stop.
How about this?
CryptoPunks, back to 100K floor.
Smashing Bitcoin in that punk Bitcoin ratio.
We're back over one.
And XCopy 101 NGMI sold for $198.
That's a $611,000 101 sale. This all comes
while NFT Paris announced they're
going to cancel this year's event
due to market conditions. Though,
it seems like market conditions might be
rebounding. Yeah. And that's our end.
Hopefully, this is
the rebound for sure.
Yeah, it sucks that NFT Paris is going to cancel. It's always a good one, but I can see why it's tough to... I Yeah, it sucks that NFC Paris is canceled.
It's always a good one, but I can see why it's tough to...
I mean, it's expensive, dude.
These conferences are insane to run into.
So you told me NFTs are back?
What?
Is it the time to pull up the PUPs chart?
Oh, God.
You know what?
Ordinals and runes are up.
They're green.
I don't even want to see how down they were, though.
No, no, no, no, no, no, no, no.
I'm stepping in here.
We are never mentioning them on this show again.
Okay.
You know what?
I have to say I kind of agree with that.
Tyler, what do you think?
I think we should have a threshold where that gets reversed. Like if they
cross like 0.1 Bitcoin or something.
Okay. But that means that's another 10x from here, right?
That is a 10x from here, yeah.
Are you okay with that, Mando? In the thousand percent
more like we can
hold 10x? Can we
talk about ordinals in 10x?
Yeah.
Okay. There you go. Cool.
All right, guys.
That is good um so we saw basically all the leaders have rebound and they sold off pretty damn hard hudgies went to 4.2 yeah they're back to
board apes were in the i think board apes went to 3a yeah i think i saw that they're back at 525
punk were down i think like 26 ETH
but ETH was lower. I think Punk's hit like
7k briefly. I think one
even sold at like 6k. Yeah, maybe less.
A lot of $0 sales too, but we know why.
But, um,
Punk's get really affected by the end of year
sales all the time.
Yeah, I mean, you want to
talk about tax loss harvest. Folks who
bought that local top had $150k tax loss harvest folks who bought that that local top
had 150k they couldn't harvest it so that that's attractive if you had gains
for sure there was also a lot of i mean fud is not the right word because it was accurate but
there was a lot of underwater punk clubs yes saw cyrus's tweet about that actually yesterday
but it's not the right conclusion to just assume that folks are just going
to default on all of those.
Because some people actually like their punks.
You can also
renegotiate
your loan. NFT loan is much
easier now. What I mean by that is you don't
have to pay off the loan. You can
pay like 10K and just lower the
LTV and
keep the punk in alone.
If you think it still has upside.
So I think when people see things like this,
they're like,
okay.
Everyone's just going to default.
He also thought this one,
this one lender was going to get stuck and get wrecked.
And it looks like this lender who took over two million default on 23 punks is
probably going to make out very well.
That's what Sarah's saying.
He said,
we could go,
this looked like one of the worst NFC defaults of the year.
This week,
it looks like the lender might make a doctor's salary
of that same default.
Literally in a week.
Yeah.
A week that this changed,
or two weeks.
$2 million loan at 18% EAPR
to someone using 23 punks as collateral.
And everybody thought that this would be
a liquidation cascade on punks
and like the opposite.
This just shows you how fast the market can sweep.
Like it's insane.
It's how it always happens in NFTs.
Oh, they're 100K again.
They're 100K, yeah.
If you're on a rocket PFP over 100K, don't talk to me.
Don't even try.
It's actually pretty thin.
That's the thing.
Like if we get any sustained cell
pressure like look it's just a couple rows to 35 are we doing punk bitcoin callers again here
voice can we do that mando this year i'm gonna i'm gonna vibe code about the punk bitcoin ratio
bottom of our screen thank you for understanding i that, actually. We can put all the ratios
that we follow, right? Like the Melania Trump
one that was historically epic.
It's
interesting here a little bit.
And disclosure, I do still hold some of this, but punk
strategy. So punk strategy's got a couple of punks
now within a few rows of the floor.
And if folks don't remember, if
those sell, they take the entire proceeds
of the token. It's over 100% off the bottom. Still far, far from all-time high. and if folks don't remember, if those sell, they take the entire proceeds.
Token. Token's up over 100% off the bottom.
Still far, far from all time high. I wonder how
Mandel's candles are on Punkster. It must be
flashing right now.
Anyone who sold that rip,
brilliant. I did not. That was a
huge mess by me. So obvious in
hindsight. And I'm not saying this thing is going to go
anywhere near that. But I do think
if you've held through
this, you want to see what $100,000
in buy pressure does to
chart.
If punks continue to heat up
a little bit.
But I also,
as a holder objectively, I think people are
waiting to sell into that too.
So it could be a little selling easy.
There's probably a lot of bag holders, right?
I mean, it's not like they stopped building, right?
They're still at it, right?
If I'm not mistaken, Renautic and stuff?
They're still...
It goes on forever.
How are all the other ones doing?
Like Chimpster?
I think Chimpster and Vibester
were the two other better ones, right?
I think most are still fairly down.
It's all right.
It's all right.
I mean, it's a much smaller collection
we're talking about here, right? I mean, it's a much smaller collection we're talking about here, right?
I mean, there's not much volume either.
So obviously careful when buying what we're showing in the show here.
But I'm just curious, right?
This was definitely one of the better narratives last year
because it was a year filled with nothing.
And that was a fun new thing that came out.
I think the X-Copy sale is an interesting one to unpack a little bit.
$611,000 for an XCopy 101, $190.
Did you share?
If you're holding XCopy 101, do you take that liquidity here?
I mean, Mando, do you guys still have those?
What do you say? Do you still have those XCopy 101s? Yeah. So what do you say do you still have those x copy one-on-ones yeah so what do you think tyler's asking like when you see the sales like this 600k
do you take that liquidity or do you just like just just wait
we uh obi mentioned it to me today
he messes me today And said
Clearly some big buyers
I don't even know Anonymous was still around
Same
But he is clearly
I think this is the 2022 piece
I don't know
It's a good one
It's a really nice piece
This is a really nice piece by the way
and this is just a still
so it's animated
I think Raul has the
animated gif on his page
man Raul dude
Raul has built a proper X copy reserve
dude like he put his money where his mouth is
and he's,
we'll be there.
We'll be,
man.
And I will be right there.
It's gathering the end of the month.
Why not?
he really put his money where his mouth is with these,
Been buying a lot.
He has it.
X copy one-on-ones.
I think there's a good chance they trade two
to five, maybe even 10 X
higher than this in five
to 10 years.
But in the short term,
it's so hard to know.
And they're so liquid.
I think it depends.
600,000 still a lot.
And there's a chance it never
doesn't run out that way. So I think the upside is still very high, but $600,000 is still a lot. And there's a chance it doesn't run out that way.
So I think the upside is still very high,
but $600,000 in hand?
I think if you're rich,
like I was talking about my thesis on those digital art pieces,
like Squiggles, Pongs, X-Copies and stuff,
has gone from delusion in 2021,
like this is going to go to millions within two years,
to like this is art, these are the winners, it's going to go to millions within two years to like, this is art.
These are the winners.
It's going to take 10 years,
20 years,
like one on one X copies selling for $5 million in 30 years from now would
not surprise me,
but you need to be rich enough to hold it for 30 years,
which is why art collecting at some levels,
at a certain level is for really rich folks.
So this is why there's paintings selling for $150 million.
Right.
So it just depends, right?
And also a lot of people will lose that $600K, right?
Like in Mando and Ovi's hands,
they'll probably turn that $600K to something nice.
But for most people, taking that ETH,
I don't know what they'll do with it, right?
So we'll see where that one goes.
Six Bitcoin right now versus the XCopy 101
we'll put out
5 to 10 year time horizon
that's tougher calculus right
what do you prefer 6 Bitcoin right now
or an XCopy 101
and you have to diamond hand it 5 years
you're obligated it's locked in a vault
I'm probably taking the Bitcoin
if I'm being honest even though I think
XCy has
perhaps a higher upside.
Just the optionality of a 6-bitcoin
and you can take... It's easier to get
loans against. You can sell partials.
There's just more you can do.
Yeah.
It's going to be an interesting one.
Alright, well, what else, Ty?
There's quite a few things going on.
I talked a little bit about the lighter buy buybacks so we knew these were coming i don't think they've shared specifics
on exactly how the operation works like what percent of revenue will be used if it's going
to be daily so i don't know if we we know all the specific details about that. But Leiter certainly has its cohort of believers, and the market liked the news quite a bit.
I mean, it was trading 260, 270 or so, roughly, post-airdrop, and this leveled it up 20%.
Wow.
So now it's 315, 320 or so.
So it's effectively the highest it's traded since
TGE. What are you talking
FDV wise? Let me open CoinMarketCap. I'm really
curious. I know it's got different tokenomics than
that billion FDV. So like whatever
the token is, it's 3.2.
I don't even know
LIDA did its token. Dude, they released
it like December 29th
or 30th.
I was MIA during that little thing.
It was a whole polymarket ordeal about it, dude.
It was a lot of people betting on that and everything.
So here's where it's at.
788 mil market cap, 3.15 billion FDV.
Let's pull up DeFi.
What do you think?
I mean,
is it still doing good volumes,
et cetera, Tyler?
I know you may be following that better.
This is just such a tough token for me.
Like with partial buybacks,
like what is,
like how, as analysts, as traders, how are we supposed to interpret partial buybacks?
With 100% buybacks, we can extrapolate your revenue and try to come to a more traditional valuation on your token via your revenue numbers.
Via partials. Like,
are we just supposed to take,
like if you're doing 30%,
should we just do the 30% calculation?
So that's one factor here.
And then like hyper liquid also has the whole hype EVM component,
which I think is a part of its valuation and lighter does not have that.
Right.
So it is a different token than hyper liquid,
um, pulling up lighter. I'm trying to take a look token than Hyperliquid.
Pulling up a ladder. I'm trying to take a look at their, how their revenues. So revenue is down fairly substantially from local highs during peak farming.
It looks like it bottoms kind of that, that last week of December.
Not surprisingly, everyone was away.
Looks like it's starting to perhaps grind back up.
They're annualizing at $92 million in fees.
So they're trading 8x that market cap, 9x that market cap.
But FDV-wise, they're trading $40, $35.
It feels correctly priced to me.
I don't see like the
i don't see the trade on this token how you used it is it good is it a good platform i haven't used
it i haven't i have not used it i'm not uh i'm not a perps farmer really i did trade on aster
and i and one of my 2026 resolutions is to give up
trading.
I like that.
I only trade on Hyperliquid
but I'd never put more than 1x.
Fuck it, I'd just pay the fee.
Funding's very low when you're 1x.
I just love Hyperliquid.
It's so easy to use.
The mobile.
In the comments saying he thinks it's better than Hyperliquid.
The fees were super low
oh Latter
zero fees
how do they make money
it was zero fees
I guess
zero fees is great
I mean
remember this
from the past season
yeah
I think
it's gonna be
I've seen some like
commentary about
like the tech
behind Latter
and like how it's like
somehow a smoother system um just with the way some commentary about the tech behind Leiter and how it's somehow
a smoother system
just with the way the order book
is done.
Even as a
trader all my life, I didn't, I haven't
looked, I was never an order book trader
or an equities trader, so I don't actually know
what validity
is to that. But what I would say
is we will find out
what is the best exchange
when volatility really picks up.
And you see big liquidation moments.
Maybe not even 10-10 style,
but if you see,
you know, you know this,
if you're trading on,
if you used to trade on Binance
versus like a smaller exchange,
like sometimes the Wix got you
and it was like,
this is just a scam.
Like I think what we will see hopefully is if volatility picks up,
Light will have to prove itself that it's been as good as Hyperliquid,
I guess, in terms of protecting users from abuse.
Because it was worse in 10.10, right?
Didn't Light go down? Did Light go down in 10-10, right? Did LIDA go down?
Did LIDA go down in 10-10?
I believe so, yeah. There was something going on,
yeah.
Looks like actually we just got breaking news. LIDA rolls out
24-hour weekday equity markets.
Oh yeah, I just saw that.
Transition 24-7.
LIDA rolls out 24-weekday equity markets.
Nice.
So the equity markets will be nice. I think Amanda makes a great point there.
I think the other point is we already have the farmer cohort rotating to the next per place, right?
Like extended is one. There's another, and I'm blanking on what it is.
But I think you have to be conscious that like, what is the moat?
Like we're going to continue to see new perp decks has come out right offering
yeah their programs so you really got to be good and like you can't just be like incrementally
incrementally better than hyper liquid is the incumbent now yeah so you have to be much better
much better yeah That feels tough.
I want to also comment on perps trading in general.
We're not even three months out from 1010,
and folks are already dialing that leverage back up.
I see people going 15x mean quotes. Oh, no.
I'm getting worried here.
It is great when you're right.
But it's like, man, what have we learned?
I'm getting worried.
The liquidation weeks are going to come.
I think one of them is coming really soon.
Perhaps a nice little Friday ding here,
which is why I took all my positions off just to chill for a little bit.
But I think we got a nice reversal from the bottom.
I think liquidate the late longs here and then go back again.
Towards March, towards 100K slowly.
But it's due.
You're right.
I saw a few people like 10X.
5X in meme coin is insane.
Imagine 10, 15X.
I got liquidated once on the Pepe 5X, I think, thinking I was safe.
And then I think it was Israel and Iran started yapping at each other
and... 20% is never
safe. 100K gone.
Yeah, and Pepe in particular.
Yeah. I've been licked for that.
Yeah, I mean, you and I got caught on that Dogecoin
one once, right? So it's like...
So it's... Yeah. And even Dogecoin, the
bigger one, the safer one.
Like, you know?
So shit happens in these.
Anyways, we'll see the time. We're going to give away shortly here. Tyler, anything
top of mind that was big here?
So we had
Infinex on yesterday.
Their Infinex patrons
and NFTs are up 40%
from the local bottom. I've seen
the whale sentiment. It looks like they're
happy with the changes. So I think the sale will sell out now.
I haven't checked on the prediction markets on how the FTV targets have changed.
But I imagine they're a higher likelihood of performing a little bit better now,
despite some of the Kaido farmer FUD on the timeline.
So I think that was good to see if you're in that ecosystem.
And then the new ICO that came out yesterday is Trove.
It's a perpstex for RWAs, equities and prediction markets. I don't know exactly what that means.
I haven't used it myself, but they shared some test net volume numbers. They were good,
but you think you take all that to bring it to solve. It also looks like they had an incentive
program as well. But I think what was interesting about this one is it's a $20 million FDV and
there's no unlock. So I think those two things combined this one is it's a $20 million FDV and there's no unlock.
So I think those two things combined is enough that folks are going to jump after this one.
It will oversubscribe at 2.5 million.
So expect to see some hype on this.
I think the sales 8th to 11th, I think they do some distributions and then they're going to TGE maybe a week or two after that.
So a few days to monitor that one.
I think you'll expect to see more about that.
And then the other news on the prediction market front was real estate.
We got real estate markets.
Dude, I saw that.
So you can go long or short Miami or New York City.
What do you think about with everything going on with Trump and Colombia and Venezuela and stuff, cocaine price indicators and markets?
I was thinking about this yesterday.
I was saying we should tokenize bricks on the Ethereum blockchain now that price is probably going to go up.
But we need a resolution source.
So it's funny.
It's a serious conversation I had today.
I was like, what if we do something viral
like that you know um there's definitely the virality component to it but i don't know who's
the source you know yeah i'm not sure the oracle exactly the oracle like who do you who do you
source like the real estate thing you can but not not the rest. But yeah, that is really cool. I mean, a lot of
these
things, I mean, prediction markets, again, it's going to be the
thing this year again, right? There's a
clear growth. Really excited to see when this
Polymarket thing comes out as well. Tokenized
and everything on their end. So
I think
Cal, she's doing 100 billion annualized
volume or something. I saw this morning.
So there may be less chatter about it this first week of the year,
but volumes are pumping.
User bases are still growing, so you'll love to see that.
Yeah.
Anyways.
Anyways.
I think that's it.
We can talk about the blockchain trilemma that Vitalik is solving
maybe a different time
maybe tomorrow or something
that probably requires a little bit more brain power
yeah
very curious about that one
alright let's give some money away
let's do it
Mando missed our all star caller yesterday
who stopped it
one before tracks.
We were all shouting at him to go.
He put his foot down and cashed out
and it was the right play.
Yep.
We're making a Hall of Fame this year.
Who is that? Let me see.
Size 7. Oh, I see him around.
I see him around in the chat.
Psy7.
Psy7.
Are you here?
This is someone I see a lot in the chat, I believe.
I think you already posted Syros.
It's Syros, right?
New Year Bank.
Yeah, there it is.
There you go.
New Year.
OG's winning.
Yeah, yesterday's winner too. I think it was someone who's always in here. There you go. New Year OG's winning. Yeah, yesterday's winner too.
I think it was someone who's always in here.
There you go.
There you go.
Let's reset.
Another lamb chop?
What do you want to do?
He won last week.
Oh, God.
Yeah.
But you know what?
We're in a new year.
I think – I know he.
That's what Charlie was saying right now.
Should we just reset for the year?
Like we just started fresh from Jan 1.
Yes.
Should we just rip that?
I know we have a one month cool down rule.
But people don't.
The chat's not happy about it.
And we do listen to the chat.
So. The chat may not want me to do this.
One month rule is a good rule.
Double down to that last person.
One month is a great rule.
Chance for everyone.
One month rule.
Okay.
We let the people speak.
We like CubeSci,
but we got to let the people vote here.
A lot of people are talking about one-month cooldown.
What do you guys think?
Chat won't.
A lot of one-month cooldown votes out there.
The chat wants one-month cooldowns.
I don't want to change the rules last minute on people.
I think we may have to reroll.
I don't want to be that guy.
It's not.
They reset before.
Okay.
Fuck it. Sorry, Psy. We's not. They reset before. Okay. Fuck it.
Sorry, I'm sorry.
We love you.
We know you listen a lot.
Since you listen a lot, you'll win again.
We get it.
Don't worry, guys.
I appreciate y'all.
See, listen.
We listen.
The chat.
We listen to the chat.
Let's go.
Reroll, baby.
Reroll.
All right.
Sorry, I'm sorry.
Roll the rules.
Heck, Tony. Heck, Tony.
Heck, Tony.
Congratulations.
Heck, Tony.
I think that's someone new.
Heck, Tony.
A lot of people, it's true.
Honestly, I would say 90% of the chat
was against that reset,
so we got to respect.
It was not just 50-50.
It was everybody was against it.
So who is this, Reg Tony, who won?
First up.
Reg Tony, W first up.
There you go.
There you go.
There you go.
Yeah, LJM, we need a high rollers wheel.
This week, why don't we do this? At wheel. This week, why don't we do this?
At some point this week, why don't we do like a high rollers wheel?
Like someone who's done volume on there.
Give a chance or a weighted wheel once, like at least once this week.
Remember that one time we did a weighted wheel and that person lost?
All right, let's go.
Let's get some money out.
All right, let's lamb chop, right? Is that what we're doing? Alright Let's
Lamb Chop right?
Is that what we're doing?
Let's do it
Mando we were thinking
Tyler and I
Are we going to get some
Valentine's Day action
For Lamb Chop or what?
I haven't actually spoken to them
Sorry I've been working so hard
During this period
I haven't actually spoken to them About that I think they so hard during this period I haven't actually spoken to them about that
I think the next thing is actually
To release some different games
I think they've got some other
Full new games coming out
That's actually going to be a big focus for us this year
So just like tons of new games
From the custom side
Which should be fun
I love the Omaha Flip game.
It's a really good game.
Oh, he's saying tracks.
He's excited, guys.
All right, so congrats.
You already made 500 bucks.
And you want to go to first run to the tracks
with $250 on Lamb Chop.
Sign up.
Oh, man.
Two days in a row.
Two days in a row.
Mando?
He's back, brother. He's back. Mando, that was two days in a row Mando He's back
Mando, that was two days in a row that the first run
Dies
Title 1
Alright, Hacktony
Hey, Psy, you see not a bad loss here
Alright
One more
One more, what do you want?
What difficulty?
Pick your difficulty. Pick everything.
Heck, Tony, he goes, oh, you got another run.
You got another run.
Turn the RT. Yeah, dude.
Man, you know
how good that clip would be if
someone made like 50 bands?
Remember those clips where people want punks
on the show?
Heck, Tony, you want us to run
you back to the tracks? Give us confirmation here.
Run it back.
Let's go. Come on.
Here's one.
Holy shit.
Let's go. Come on.
Come on. Come on.
Come on.
Dude, that is brutal.
Brutal. Hey, listen.
Can't win them all. Can't win them all can't win them all so heck Tony
congratulations you still
listen to the show made a little $500
for listening to the best show in crypto so
and then getting that
alpha you know you got man those charts today that's
worth well more than $500 so
congratulations
on that
with that being said we'll'll see you all tomorrow morning,
10 a.m. Eastern.
Stand the time for the episode of FOMO Hour
on Rock Radio.
Let's go. Thank you. . .
Insights
Project L
Token L
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