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FOMO HOUR: WE BACK????? 😅
Recorded: Feb. 25, 2026 Duration: 0:52:28Space Recording
Full Transcription
Music Check.
Perfect.
And let's kick it. 으 으 으
으 으 good morning g and gf wednesday february 25th
2020 another beautiful day to have a beautiful day
ah look at my co-host of the house tyler good morning
fantastic green candles are back the bulls are back god candles on the board this morning dare
i say double digits 10 counts as god candles and they're out there across uh majors not even just
alts so it's a nice uh it's a nice wednesday yeah that's uh it is uh it is uh it is uh it is Yeah. It is... Is it God Candle Wednesday?
It looks like it is.
Are we still back?
Is the bottom in?
Is it 23 months or week or whatever?
That thing?
That chart that's going viral?
A thing?
Let's find out on today's show.
We'll talk markets.
We'll talk markets. We'll talk... What else? We'll talk markets. We'll talk markets.
We'll talk,
what else?
We'll talk markets.
We'll talk news.
There's quite a bit of stuff going on.
We do love Green Day.
So it's been a while since we had one.
One day
until the ZachXBT thread.
I feel like the hype has died down.
I feel like he could have done
like 24 hours in a notice.
Well, now we're pumping, so we don't care about this anymore.
Like we've got other things that we can spend our time on other than inside
trading drama.
Sorry, Zach.
It's going to be underwhelming now.
It's, um, so there's that.
And then, uh, and then we'll give some money away.
You.com use code for more to sign up and have a chance to win some chaos on today's show.
I'm sure Mendo will join us in a wee bit.
So Tyler, let's just go to you and see what we've got in store today.
For daily NFDA crypto analysis.
Tyler, on FOMOH Our cause the kids can't fix.
Free to pass the birds.
Folks, crypto majors are majorly green.
After a huge rebound, it started last night.
Now continuing here after the U.S. Open.
We got Bitcoin up 5.5%, 67K.
Oh, babies.
ETH up 9%.
Right on that $2,000 line.
Happy $2,000 Ethereum Day to those who celebrate.
Solana up 12% back at 86.
Huge green across the board.
Memes are up in the same 5% to 10% range.
There's alts up 10% to 20% as well.
So we'll go through the list on those.
Not a ton of macro news.
I mean, we had the State of the Union last night,
which I think it led to fairly partisan reactions,
but I think it was,
I saw slightly positive,
at least from the CNN poll.
Stocks are majorly green here.
Nvidia looking good.
So it seems like perhaps the Citrini AI bottom is in as well.
A lot of those Citrini stocks that sold off are bouncing as well.
So green day for markets across the board.
Gold's up, silver's up a ton, copper's up.
Let's see, oil's down, but stocks are green,
crypto's green, metals are green, basically.
So pretty nice day here in markets.
Going through some of the headlines,
the Ethereum Foundation,
they began staking 70,000 ETH yesterday from their treasury.
They're going to use those staking rewards to fund protocol R&D and ecosystem grants.
That's kind of in line with what Vitalik has been doing.
So Vitalik has sold 10,700 ETH since early February for about $6 million.
But he is using those proceeds to help fund Ethereum Foundation initiatives.
So it's not like he's just selling it to cash.
So take that FUD with a grain of salt.
The Trump administration now publicly pressuring crypto industry
to revive the stalled market structure bill
and I think kind of give in on some of their yield pushback.
Meanwhile, World Liberty Fi is actually siding with Coinbase
against the White House's version of the market structure bill,
creating a split between the Trump admin and the Trump crypto business, which was an interesting headline from yesterday.
And then Tether teased an upcoming product announcement with speculation of a neobank and or payments card coming later today.
So look out for that one. Circle stock up 20% after a huge earnings report was released yesterday.
We'll go through some of those details later on.
Let's see.
Going through token airdropping protocols.
Coinbase announced tokenized stock trading available 24-5 zero commission fees, fractional
shares.
Kraken's launching tokenized equity perps via its X stocks framework offering up to 20x
leverage on certain stocks.
Then Binance is also returning tokenized stocks for the first time since 2021.
So three of the huge players in the SEC space leaning into the tokenized stock trading.
Aave Dow published an audit of Aave Labs' historical performance
ahead of their $51 million.
Ask tomorrow.
It is a spicy report.
I posted about it here this morning,
so we'll talk about that.
And Etherify announced its earned function now available
on the iOS app. Etherify was actually one of the biggest movers on the day, up over 10%.
Meme majors, as I mentioned, very green here. Punch was a notable mover up 22%.
ARK continues to grind up. And then the base AI tokens. This is really where the action is.
Virtual up 20%. The VVV token up 27%, and then some of those downstream base AI tokens
up big as well.
So that seems to be the ecosystem
that is the most hot at the moment,
but pretty nice day all around.
I like that.
I mean, where do we start?
There's the Coinbase and World Liberty Finder
seems important enough here.
I didn't see any.
Where did you see that?
So there's a few decrypt stories about this.
So we get it.
Yeah.
There's one by Sander.
That was the big ones.
It's titled Trump's White House has one view of crypto legislation.
His family's crypto company has another.
So basically the TLDR here is the Trump admin.
Basically he wants to get this this clarity act across the board.
And it seems like we've had Trump kind of taking shots at Coinbase after Coinbase and Brian Armstrong walked away from the bill.
What about a month ago or so now?
But seemingly at the Mar-a-Lago conference last week, the World Liberty Forum, it seems that the World Liberty FI team said that they are very aligned with Brian Armstrong and Coinbase's stand on that bill.
So I don't know that it's like some huge divide that we need to make a whole lot out of.
effectively the White House perhaps on one side trying to get the crypto companies to give in a bit on the yield item to get this bill across the goal line versus some of the crypto companies who are holding strong and World Liberty 5 seemingly siding with Coinbase here.
And understandably so.
I mean, this is pretty core to their potential business model, what they want to do in DeFi.
So that yield would be pretty important.
I mean, they have their own stablecoin, USD1.
So the ability to offer competitive yield on that is pretty much the entire business.
So I think it certainly makes sense for them to be aligned with Coinbase on this one.
WorldWD co-founder Zach Falkman came out, spoke to Decrypt, said,
we are very much aligned with their way of thinking about this.
Brian's been doing a great job, Brian being Brian Armstrong.
Yeah.
I mean, they seem pretty aligned at the forum, so he was on stage.
Yeah, it's not a huge surprise, but we shared the odds yesterday.
The Clarity Act is at 48%.
It's less than a coin flip now.
What's the next stop?
There's been a lot of, they said by March 1 March 1st you're gonna try and get this wrapped up I mean I don't think it's
gonna be wrapped up by much first but at least the conversation is gonna keep
going obviously it was stayed in the Union in between so I think they got a
little busy yeah I haven't seen the next steps on this one so they had that they
had the three roundtables right I don't know if any more
are planned. Honestly, my read was that they weren't
even getting a whole lot of progress done at those roundtables.
No. I think it's
really just a bank thing, not
budging at all. Genuinely.
I don't think it's... I know a lot of people
at first are like, oh, Brian's coming out, and
you know, he's kind of like fucking it up.
I don't think so.
And you really don't think it's a Brian Armstrong problem.
I think it's really the bank's not giving in.
I'm going through Eleanor Territ's page now.
She's been, you know, one of the primary folks covering this.
She doesn't really have any updates over the last five days.
So not a whole lot of news.
So this seems like it's kind of stalled at this point.
48% on prediction markets, that feels right.
And I'm not really sure if I'm eager to slam the S on that, to be honest.
I mean, it seems like the impasse is still pretty big.
Yeah.
Let's get Sander on the show Friday.
That'd be great.
Yeah.
Let's get Sander on the show Friday because he's our White House correspondent.
And actually the only crypto media that's in there.
So let's get Sander on the show Friday,
maybe Ty, and maybe do a little segment on that
and see where he's out. I'll message him ahead of time
and try to organize something. Mando!
What the band? Good morning.
How are you?
I'm fucking great, dude.
I am really good.
How are you doing?
I'm doing fantastic.
Doing fantastic.
We love to hear that.
We love to hear it.
Honestly, I haven't really looked at the market
this morning.
We're back.
Tyler said
bottom's in.
Bottom's in.
There's a lot of talk about that
right now
Tyler's little I saw that yesterday
Tyler was like you know what I mean that is a good
like
XMR man
fuck
so look at this
breaking
Bitcoin is hit its bear market bottom
at exactly 23 months after the ATH in every cycle.
We are sitting at 23 months right now.
This has never failed.
So whether it was in 2013, 15, whether it was in 2017, 19, whether it was in 2020, 2022, and now in 2024 to 2026.
Gentlemen, discuss.
So one quick clarification.
I originally misunderstood this, and I think a lot of people misunderstood it so it's from the first all-time high break and not the
cycle all-time high so it's when the current cycle breaks the prior all-time high that's the 23 bars
and effectively it's played out four cycles, three cycles in a row.
I was not a four-year cycle guy, but apparently everyone else is.
The people who hold all the coins are.
So I'm looking for confirmation bias of bottoms. And this is the latest opium of the day.
It's played out three times in a row.
So who am I to argue against crypto history?
So rooting for this one.
Yeah.
Man, there's the bottom end.
Is this it?
We're getting our first green candles in six weeks.
That's bottom end.
Should we share some screens?
Take a look at it.
Oh, I love it.
Should we share some screen?
Of course.
Kids, you know when the teacher used to bring the TV out on that stroller thing?
And you just knew it was going to be a good class.
I did say that I didn't think we were going to break through,
that this would be a bounce.
I actually thought we might get closer to it.
What was the low of yesterday?
63-ish. Yeah. I guess that's kind of where it was in the 4-H. actually thought we might get closer to it what what was the low of yesterday 63 ish yeah i guess
that's kind of famous where it was in the four hours so i didn't think we would like people
saying oh we're gonna go to 50 but i didn't think i was gonna happen i think we got at least one
more of these like horrifics i mean look at you remember when we got rugs here like if we do go
down we're gonna we're gonna have another one of these
oh we're so back we're at 75 rug like no that's what we're getting um
the ones that look the strongest and we'll do this on the four hour because that eliminates
some stuff bitcoin's having a decent bounce here but but it needs to kind of get about 68 i think
copper again looking strong.
I mean, ETH kind of put in a lower low there, did it?
Yeah, it did.
Or close to it.
IPE doesn't look that strong, weirdly.
Pull up Solana, pull up all of those majors.
Sol looks
okay, but they put in a lower.
At least in the 4-Hour, I've put a lower.
Samast looks like the
strongest, man.
I'm just kicking myself.
I'm kicking myself.
What's the move you missed, though?
Like 320, 330?
Yeah, I mean, yeah.
Yeah, that's true. It's a 5% move.
That was a nice move.
If anything, the $300 buy was...
Yeah, I was like, oh, well,
I woke up and I was like, oh, thank God that happened.
Now I just think I don't think
this thing's going to go.
If Bitcoin really does go to $75, this could easily go to $400.
It's really gold, silver,
copper, boys,
looking okay.
Gold looks great.
Yeah, gold, gold.
Look at that.
Wow.
I picked them up.
It's so nice.
I picked them up after the show
or during,
when we were talking about it.
I did copper and gold
and a wee bit of XMR this morning.
Sick.
Yeah.
I was itching to buy something. I mostly did it because I really just
had to buy something.
It's definitely nice out there.
Very small candles.
Very small
ties.
There's nothing else really, right?
No, not really.
Stocks have bounced as well, which is a good sign.
I like Google.
Who knows?
Who knows?
I've been so busy with work.
I've been focusing way less on markets.
But if I was to buy three things right now,
it would be XMR, gold, and copper.
Those three look the best.
Tyler, you buying some copper yesterday?
I haven't.
Those plays make sense to me.
I do want to talk.
So we kind of went there with one of the bottom signs.
There are a lot of bottom signs.
So let's just go through these. Let's go. so we've got jason kalkin asses this is more of a soft bottom side
not a technical yeah yeah let me bring it on he victory lapped his if you're in crypto pivot to ai
combat which is like uh one of his legendary comments it was widely mocked during some of
the bulls anyways he uh victory left that post yesterday with the check mark confirming that he was right.
Have you seen this chart?
I saw the on change camera share it.
Yeah, I've seen this.
Yeah.
I mean, he's basically talking about like if you're a builder.
Yeah.
And like I think it's like, okay, like he's there's some merit to that.
But still, he's just being a victory lapping asshole here.
Potential bottom sign.
We had the 23 bars, bottom sign number two.
MicroStrategy is the number one most shorted stock on the market right now.
Saw that yesterday.
We talked about yesterday, sentiment and extreme fear.
We're in a record period of sentiment being that low.
Another potential bottom sign.
And then the whole Jane Street issue people are pointing to them being sued by Terraform Labs as another bottom sign.
So there's five.
I just counted five for you out there.
So that's your Hopium this Wednesday.
I mean, even looking at the 23 bar chart that we had pulled up, even if the bottom is in, it can still take a few months to really like form and resolve.
So it doesn't necessarily mean that we're going to go straight back up,
but I'm happy to see this out there.
And then our female quant LH she's buying.
She's not necessarily saying that she didn't necessarily say that the bottom
is in,
but she's been scalping long.
So I think her target, she said, if it gets back to the range is in, but she's been scalping long. I think her target,
she said if it gets back to the range,
68, 70, which kind of already,
we passed 67 today.
Yeah, I saw that.
We almost hit 70.
There's a lot of,
I mean, there's definitely more bottom signs
right now than the opposite.
I'm ready to get hurt again.
I'm going in with XMR.
Oh, there he goes.
Did you put another trade on?
I've had some very good trades with XMR, and this one is frustrating.
I didn't even lose that much because I really sized down.
I thought you lost like 75k um which is a lot but like not
insane uh if that goes to 400 i want to make like hundreds of thousands of dollars
fucking mando dude man's like daddy needs a new bottle of whiskey i just it would not it would It would have no, yeah, that's funny.
You're so funny, dude.
You crack me up.
Okay, I like it.
I'll tail to one tenth of your size.
That's my thing.
That's what I do now.
Whatever Mando does, I do one tenth of it.
If Mando makes whatever he makes,
if I make 10% of Mando's P&L,
I'm a happy man, you know?
Me and Bernie will do one one hundredth. Perfect. See, it ain't much. I mean, I'm a happy man, you know? Me and Bernie will do one 100th.
Perfect. See, it ain't much.
I mean, Bernie's a whale now.
I don't know if you're aware, but Bernie has an agent trading on the Hyperliquia Boys.
He does. His agent trades just like him.
Surprisingly.
Maximally high-level.
Make no mistakes.
I don't know if we can get the last screenshot.
It's probably been...
I haven't.
I got to just download it.
Oh, my.
I think it's...
Yeah, it is just like him, right?
I got to download it so I don't just share my WhatsApp on the screen.
So give me a second.
But going back to your I'm ready to get hurt comment,
and I know it was about XMR.
I just don't think we're just out of the woods.
Like, if the trend is still bearish right now,
even if we get somewhat of a pump to, like, the 70s,
I just think it's only one of those where, like, we got caught.
Yeah, 100%.
This is a pump.
This is a pump rather than a trend reversal.
Trend reversal, yeah.
I mean, I don't want to say that.
Right now, it's a trend reversal.
That is like your above 50% probability thing here.
It could be the reversal.
We could be sitting here, and as Tyler said,
we're the exact amount of months from a bull market,
and everyone looks back on this.
My gut tells me that when those times have actually happened,
you actually go the other way.
So you actually go down to like 55 and then you go, you gigascent.
If you remember, that's what happened like the last times we went out of these sort of ranges to the upside.
You actually need to scare everyone to thinking it's all over and then you gigascent out of it.
So my guess would be like you get like a bear trap
into a gigascent when we see us come out of this correct me if i'm wrong but i believe trend
reversals aren't just v-shape recoveries in bear markets like you're not just gonna v-shape back
to a hundred thousand dollars and then tall time high overnight like this is something that's going to have to consolidate take a lot of time in order to create
the next phase of the bull market right like or to take us there right so i i think you need it
i've said this before yeah you need to almost have that retest this was a decent retest but
like normally when when it really gigasends out of something,
like a downward trend like this, you need all hope to be lost.
And then, bam.
I think 60s Bitcoin is depressing, but I think a Bitcoin with a five in front of it is true depression.
I feel like we're still a little complacent here.
Not we, perhaps, was three.
But let's pull up Bernie you know Brittany's listening on
Spaces to see him but this is Brittany's agent
AI agents need privacy
that's the bullshit
narrative I'm leaning into
you know but AI takes over the world
they want to have XMR
as a matter of fact
Mando they do but they also
need to laugh
and pups let me show you this the In fact, Mando, they do, but they also need to laugh.
And pups, let me show you this.
Oh, my God.
Yeah, this is really... Make no mistakes.
Make no mistakes.
So, Bernie, could you tell us in the chat, like, how is this Asian trading?
What's this P&L?
Is this the one-minute chart that we're looking at here?
What chart is that?
Is it one minute?
Is it 15 minutes?
Is it an hour?
How many trades do you see on there?
1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 9, 10, 9, 10, 9, 10, 9, 10, 9, 10, 9, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, It's about 60, 70 days now. That's burning. He has problems.
It's the five-minute chart.
I was just trying to let it rip, he says.
This is the five-minute chart?
Oh, my God.
He did say that.
Wow.
Okay.
I mean, I guess maybe he is farming the hyperliquid airdrop,
whenever that comes in.
But anyways, with that being said,
all right, markets, we can have a good roundup.
Let's hope we have that.
The other thing that's really overhanging for me is war.
Like you saw Chuck Schumer's comments yesterday came out of a meeting, I think,
with Secretary Hexeth and Trump and everything.
And he was like, this is not good, right?
Like this is not looking good,
et cetera.
this is also imminent.
And the 10 days Trump gave Iran
is coming to an end,
I think on Friday
or something like that.
Or at least very soon.
it's not like
they're just going to like
remove all the assets
they moved to the Middle East
overnight as well.
there's also that to keep in mind.
Maybe that's going to be
that second sharp down,
Mando,
that you're talking about? War? Yeah, maybe.
The timeline
keeps getting pushed back. I mean, at least if you look at
prediction markets. So by February 28th is 11%.
Oh, wow. That is
considerably down, yeah. March 15th
is still 49%, which is very high.
So we're still
a coin. Do you not think if you're
the U.S. government government now you're just hammering
the other side
there's two complaints game
and there's enough
there's starting to be enough liquidity
in some of these markets where it's actually worth
the time
it's crazy though I was thinking it would be this weekend
but if it's not this weekend
there's also like the fake signal like oh yeah you could
spike the odds like oh that's exactly what I mean yeah like i don't know how much i would trust this
right now like if i'm sitting there and i'm the u.s government this is true how much does it cost
to do that but you make a good point because hexeth when they brought up to him the pizza
tracker from the pentagon i don't know if you guys saw the clip. Did you guys see that clip this weekend?
So someone brought up to him in a football game.
Hey, have you seen the pizza tracker?
And he says that they do because they have to see everything.
And he's like, maybe someday I'm going to like order a bunch of pizza
when there's nothing going on just to throw people off.
Because they have to, right?
Because people like there's a lot of civilians monitoring situations.
Like the meme is pretty real.
And so actually, Amanda, you make a good point.
Like let's say February 28th is at 11%.
I mean, there's $44 million volume of that one, by the way, versus the others.
You're them.
You could, you know, hammer the no and then just full send it, right?
Or February 26th for $40,000, you can clear the book and send it to 100% with a 40K buy.
I like the 28th here, boys.
Nine to one on your money.
Dude, nine to one on your money.
Take that.
$1,000.
I don't know.
I don't know.
It's very interesting what Mandel just said.
That kind of mind fucked me a little bit, actually.
I'm not going to lie.
If I'm Pete Hexeth, that's exactly
what I'm doing.
I think we will see more of it. I don't know if it's
out there.
Yeah.
We'll see.
Our other favorite market, the
ZachXBT.
I mean, the Aura like the clear favorite right now
how are we doing there lads
let's see
ZachXBT
about 46% now
Jesus
feels like it's almost guaranteed to be then
at this stage yeah
and I think he also came out and admitted that
there are insiders of this market
because he talked to people at some of these companies,
which would make sense that he
would have to do as a part of an investigation.
Of course.
So there are people who...
Given they're pretty good at insider trading over there,
you know, one last
one, you know?
So, seems like it's
probably them.
Yeah.
That makes sense. I would have
maybe done a 24-hour heads up if I was
in next time.
You know?
Three days, maybe a lot.
Expecting like a nuke.
Yeah, I don't think he was also planning
on prediction market spawning and a
7 million engagement post.
How much?
It went very viral. it was over 5 million 8.6 million yeah 27 000 likes 2700 bookmarks wow okay
so we'll see what happens there but anyways another news quite a few things going on
yeah i mean one of the biggest headlines of the day it was a huge day for stable coins It's another news. Quite a few things going on.
Yeah, I mean, one of the biggest headlines of the day,
it was a huge day for stablecoins across the board.
So one, we got the circle earnings.
Their stock was up huge.
It was up 20% this morning after a strong Q4.
USDC supply up 72%. Q4 revenue up 77%, 770 million.
They were a bit up 400%.
So massive earnings, circle, stock.
I haven't really pulled up the chart.
How are we doing?
We're at 73.
I got it.
And yeah, here.
Bottom, Harvey.
So bottom was 55.
So 30, 35% off the bottom.
I'm going to go through some of these other stable coin headlines,
but man, like from a trading perspective,
if you want to bet on stable coins, like what are the options out there?
I don't know.
There aren't a ton.
Are there?
Circles.
There's a few, like there's the stable token.
There's a handful of others.
Circles at 17 billion market cap some
stripe just announced yesterday they're valued at 159 billion and they're leaning heavily into
their stable coin businesses as a core driver of their future and when the tempo chain comes out
right that'll be one perhaps assuming if it has a token but right now i mean circle is one of the primary ways to bet on it. I got to run my nuts.
No worries.
Circle looks good.
The big headline was out of Meta, so Facebook.
Yesterday, they announced that they were going to reenter Stablecoin payment space
after shutting down their prior project, Libra, which was rebranded as DM back in 2019.
So basically what they've done here is they've sent RFPs to crypto infrastructure firms.
They're going to seek a third-party partner to administer stablecoin payments across Facebook,
WhatsApp, and Instagram.
And they're targeting a launch soon, as soon as H2 2026.
Apparently Stripe is actually the leading candidate.
This comes after Stripe processed $1.9 trillion in payment volume last year.
That was up 34%.
So they're obviously a massive player in this space.
They just got their national bank charter from the OCC last week as well,
which is going to let them custody crypto and manage stable coins.
Coming back to Meta, they are not planning to do their own token this time.
So the prior go around, they were going to issue their own stable coin.
They're not going to do it.
They're going to be stable coin agnostic and effectively just integrate other stable coins.
So I think it's going to be easier for them to get this across the goal line.
And then from their team,
enabling people and businesses to pay
using their preferred method is the driver here.
I dug into the numbers a little bit.
I don't know if this is going to be surprising to people,
but again, they are staggering numbers.
So Facebook has 3.2 billion monthly active users.
WhatsApp has 3 billion.
With an 84% daily open rate,
the highest of any major app.
100 Facebook or WhatsApp?
WhatsApp, 84%.
I mean, that's all I use.
Yeah.
With 100 billion messages sent every day.
Wow.
And Instagram has another 3 billion users.
So across their full family, 3.98 billion unique people per month.
Wow.
Basically half the world.
So any kind of a stablecoin integration across those apps is huge.
Wow.
To the point that it could, you know, if it actually starts getting used,
could double, triple stablecoin supply in volumes right that is insane this
actually picks up i was looking the stable coin total market caps 308 billion right now um where
are we up off the bottom let me try to see so we're at i don't know where to see that you have the
yeah it's just defi llama.com slash stable coins listen to the link
yeah
okay guys
so it should be stable coins
or coins
coins stable
that dude those stats are crazy
they are
so we bottomed around 120
around 120 billion
so we're basically up
double
one and a half
two and a half x rather
off the bottom another two and a half X rather off the bottom,
another two and a half X from here puts us at a trillion roughly.
And I'm seven 50, but I mean,
these are the kind of headlines that push you there along with like the
agentic stuff, which is, I think also,
I still think they're going to run AI agents are going to run on stables.
So it was, it was a big day for stable coins.
In fact, the Collison, John Collison, founder of Stripe,
it may be a crypto winner, but it's a stable coin summer.
So yeah, it's hot.
That was a big story.
And expecting more and more to come out of that. And I think downstream.
So now folks, so how do you trade it? And then circles earnings lining up just with that headline
was, was very fortuitous. So circles, a clear winner. I mean, tether. Yes, but there's no real
way to invest in tether, right? Like, that I'm aware of.
Stripe, if you've got access to Stripe in private markets.
Metastock?
I was looking at Metastock's basically flat on the year.
So compared to some of the other Meg7s,
you've got to maybe paint a case that it's been underperforming.
They're not winning the AI race or some of the others.
I'm just curious to see how they're going to
integrate all this. Because they've tried silver coins prior.
Maybe they were too early.
It kind of didn't work. Then they spent tens of billions
of dollars in Metaverse. That was kind of the top
there. It didn't work.
I'm curious what they're doing with AI
and stables, of course.
Yeah.
Yeah, it's one of those things
where it's not just going to go
gangbusters overnight.
It's like if you think
Facebook Marketplace,
there's tons of money
that goes through that.
But is the average
Facebook Marketplace user
going to be able to spin up
a wallet with stable coins in it?
I don't know.
That's probably going to make sense.
Or they're going to integrate
MoonPays and those guys.
So that's the way they could do it.
WhatsApp is probably the most interesting of the three to me.
Just becoming like the payments and messages.
WhatsApp should be a super app.
It should have your wallet.
You should have a crypto wallet on WhatsApp.
And it's like, oh, hey, like, actually, that reminded me.
I owe you 500 bucks.
But it's like, yo, Tyler, buy me $500 of this coin.
And I'm like, like which way we got rugged
it's not looking great yeah anyways i owe you 500 bucks clearly forgot but point being that's
actually a great use case yeah you're like yo this meme coin i'm buying this i'm like yo ty
gives me 500 bucks i'm gonna play it i can't buy it right now okay cool just my wallet's in there
and i just ship you 500 bucks and whatever I have in there.
It's actually a perfect use case.
When you think about the growth of those platforms, aside from
some AI,
you can't really change more of the text or voice
to text, etc.
Wallets and turning them in super apps makes perfect sense.
I mean,
Telegram's going this route, right?
So it's not a...
It's kind of like what's happening in Asia
just 20 years later for us.
Yeah.
Yeah, Asia light years ahead of us.
Exactly.
Like, your WhatsApp is going to store...
Like, they've actually crushed...
You know when they acquired WhatsApp for $19 billion?
I think a lot of people were, like, making fun of Zuck,
thinking that it's, like, pretty stupid.
They in retrospect, that's looking pretty smart
yeah that was a big one i mean he's had some misses right in the metaverse thing obviously
was a big one they just i'm not necessarily the idea was wrong i think this their execution was
just terrible even the stock isn't bad like when you look at the chart i mean it's meta by i don't
know like it depends what they do like you said with the state coin stuff, it's meta buy. I don't know. It depends what they do, like you said, with the stablecoin stuff.
But it's not a bad chart either.
It looks good.
But I think what's different about it than some of the others is
you're getting the same price as you could have gotten a year and a half ago.
It's January 2025.
Yeah.
Basically flat on 14 months.
Yeah.
I even could argue here.
So actually December 2024. Basically flat on 14 months. Yeah. I even could argue here.
So actually December 2024.
Yeah.
Maybe there's just long enough consolidation.
They figured it out and the next leg up is going to be pretty good here.
It's actually probably not a bad shout, Ty.
Hmm.
Interesting.
How's Hood doing, actually?
I'm just very curious.
Yeah, Hood really sold off i think wow today that's not a bad spot either though right this is like if you're bullish on hood
on any kind of a time line this feels like the buy zone right like it's not like yeah it could
definitely go lower and i think you know i have i know people
who are like in the 40 45 range but like you never you're not always going to get your ideal
entry target so this has been one that you missed and you want to get back in i don't know this
feels like a decent dca to me it's kind of like, honestly, it has really mimicked the Bitcoin chart
in a lot of ways.
They're both down about 50%, 55%
off all-time highs.
I have the same view of Bitcoin.
If you want to get
into Bitcoin, I think if you haven't started your DCA,
I have a bullish lean.
That's obvious, but this is
not a terrible DCA entry point.
Like, yeah, we might get the 55K candle.
Are you going to be able to catch it?
Like, are we just going to violently rip off of it
and just get right back to 62, 64 anyway?
Yeah.
I view the hood perhaps the same.
It has its own potential headwinds.
own potential headwinds i think there's still a little bit of uh is there an anti-gambling
I think there's still a little bit of,
headwinds kind of coming in the u.s there's some hints of that but the other on the other side like
it also seems up and to the right so i don't have a super strong read on that but i've seen that
i've got friends in my circle who have that concern um but But we will see.
And then arguably one of the more interesting,
so I posted about this on Monday in the newsletter.
I don't know that we talked a whole lot about it.
There's been some drama in AVE.
So BD Labs is left.
They said that once their contract is up, they're out.
They don't really want to work with Aave Labs anymore.
That is the story.
And just yesterday, one of the heads of the Aave DAO basically published an audit of what Aave Labs has done
because there's this big funding boat where Aave Labs is about to get $51 million.
So historically, Aave Labs has already gotten $86 million
in payments from the
Ave DAO plus swap
fees and a few other things.
Now they want $51 million more.
He basically goes through it.
In their view of the audit, this is not my view,
this is me reporting on this.
Ave Labs attempted six products
beyond the core lending, all failed
or are unprofitable.
Jesus.
Their Horizon product, their RWA lending,
cost the Dow $24 for every dollar earned, on example.
Saying that some of the TVL numbers they put out
were misleading as well.
Basically, that BGD Labs, the one who's leaving,
built the whole Aave core
version 3.1 through
3.7, which has been carrying the protocol.
And then Aave Labs has
been flooding it and trying to push
their own version 4.0 out
the door and saying
that that's not necessarily the right decision.
not the best audit to come out a few days ahead of the vote.
We'll see if it ends up passing or not.
I don't know what their alternative options are.
But are they in a little bit of drama turmoil right now?
I'm trying to see.
I know that this token's back up 5% today,
but that's kind of in line with the broader market.
But the chart doesn't look fantastic for one of the leading...
There goes Mando's XMR.
Oh, is it going?
It's going.
Everything's going.
Maybe we revisit prices real quick.
Bitcoin 67.3.
ETH 2020.
Wow. Solana'sTH 2020. Wow.
Salon's up 11.5%.
That's a big...
And that was the long of the day.
Or AVAX.
AVAX up 15%.
I saw that in the minutes this morning.
AVAX out of nowhere.
And granted, like a lot of these have been sold off pretty hard.
Everything's running.
Like Copper 2 is going.
XMR is really going.
Oh, 34344.
Do you realize it was just $300?
That was the long.
XMR watches.
You're talking about 15%.
From slows.
Vando's cooking.
This is Vando's doing for sure.
I wonder why he left so fast.
He needed both hands and full attention to...
Yeah, yeah, yeah. When this guy says, oh, I'm expecting X amount of trade, just no.
Just no.
Maybe I'm just recency biased from this bear market gloom. I don't even remember a day
where we had these kind of candles
across the board.
It was literally just like
when we just went from 60 to 70, right?
That's it.
Yeah.
That's it.
But that's really it.
But this is why I genuinely think
we're just going to get slapped back down again
as soon as we get back to the 70s.
The market just...
Like, things haven't changed, right?
There's still not enough liquidity in the market.
Like, What changed?
I can't really point to anything for a specific driver of this.
Unless you think that Jane Street was artificially keeping things down,
which I don't know if I necessarily subscribe to that theory.
But also just regression to the mean,
and we were heavily sold off like a few green days.
We've got NVIDIA earnings tonight.
That'll be big.
I mean,
if those are bad,
I expect stocks to be pretty red tomorrow,
but the fact that we're pumping so much into them makes me feel like people
probably know that they must be all right.
I mean,
fuck AI is having a time,
right?
Like surely NVIDIA earnings are good.
I would think so.
Like what,
what,
what could be bad for NVIDIA?
Just because expectations are so high that basically everything has to be
perfect.
So yeah,
that's true.
Yeah.
Opera's trading a shit corn really again.
There's some action. There's some action.
There's some action out there.
And arguably the biggest ecosystem,
I have this in my minutes,
but it's virtual.
Virtuals is up 20%.
Really?
The VVV token,
which is the base AI DeFi coin,
it was up 20%.
Tibur was up 20%.
Yesterday, some of the downstream base AI tokens up 50% to 100%.
And the Solana trenches, that was not the story.
It was pretty quiet.
Some of the prior runners had rebounded a little bit,
like punches back up a bit.
Nothing crazy.
Solana meme straight is still very rough right now oh lobster sold off 50 yesterday see
that's the problem with this eco is like you just can't you have to try to sell the top on all these
because and if you don't like it's just minus 50 the next day yay like there is no there is no exit
there's no in between yeah there's no in between you're There's no in-between.
You're either taking fucking minus 50%
of the teeth
or you're making
like maybe a 2x.
It's brutal.
Yeah, I mean,
I don't know where
the targets are.
I mean, the targets are
female Kwon who never misses
said reclaim 70s.
You could push a 78.
Maybe, maybe, maybe, maybe.
But that's what
Keremando was alluding to he's
like 70s right 75 but i feel like this is when like all of a sudden friday market closes trump
hits the red button and and and and you know shit all shit goes yeah i wonder if this is – I haven't looked at the election odds.
Are there any changes in any of the big – not like in the midterms.
Like did the – the Dems were becoming a heavier favorite to win the Senate.
Like I wonder if that perhaps changed.
Let me see if I can find any of these markets left.
Is there any midterms markets?
I mean it's a typical question.
It probably is, but...
There's a lot.
There's individual states.
There's, well, which party will win the House,
which will win the Senate. Okay, so
it doesn't look like much has changed.
Republicans still 60% to win the
Senate. That's flat on the week.
That's not it. I was trying to think,
is part of the bounce like a Trump approval bounce,
but that might be a bit of a stretch.
So I don't know.
Maybe people are just tired of selling.
How about that?
Maybe that's the reason.
$67, $550.
How about that?
How about that?
Mando's XMR longs are probably fucking raging right now.
It was $330 on the show, right?
When he was...
3.45 now.
That's a nice little move.
Mando's on fire.
Hype up 5%, 28.
Once again, if you listen to the show live,
we give you three winning trades in 24 hours.
Gold, copper, and XMR.
Would you look at that?
I'm ready to be heard again.
Just like Mando. I'm ready to be hurt again just like man
i'm gonna be hurt
again for sure
what do we think
of hype here
what's the hype
metrics
let's take a look
okay
oi is up pretty
big on
on on
i'm on the
i'm on hyperliquid
right now
oi is up
significantly
yeah i feel like
you lose the check
i don't have as much of a pulse on that.
Yeah, just because I look at it every day.
Bitcoin's at $1.5 billion.
Ether's $1.2.
So just those two alone have quite a lot of demand.
Hype's back at half a billion dollars of open interest.
That's good.
It's interesting that zeke has double the
open interest is monero xmr let me tell you right now zeke is 56 million and xmr i don't even see it
it's 26 so it's about yeah it's about double well i know amando loves i think mando is more of a
xmr guy over zeke but zeke does tend to like outperform it a bit that's for sure
um xmr chart looks better but that's the thing i think that's why he's like mostly on that he's
playing breakouts and whereas xmr chart tends to have that a lot so we like them both. I feel like, yeah. Yeah, I don't have a personal, like,
I don't really have a bias
in terms of, like, which one I like best.
I do agree that the XMR chart
may be a little better looking.
But I don't really have a...
I don't have a favorite here.
I don't have a favorite.
Anyways, look, it looks like we've gone around.
Unless you have anything else,
we could get some anyway.
Yeah, I think we can get there. The only other thing we'll see like if tether comes out with their announcement they teased like this new image it looks like it might be like a tether card
of some kind or perhaps like a they're going deeper into the neobank space so so look out for
that i think that would be a big one okay but we don't have the details yet. So with that, let's get to some you.
Yeah.
it's a weighted Wednesdays.
it is.
How about that?
Lijm,
L I J M is saying even their dot is up 25%. What a,
what a wild token to token to still hold.
Even my dot.
But we're happy.
That was actually one of the first tokens I ever bought back in my,
when I started dabbling in early 2021.
Look at that wheel.
Oh, no.
All right.
Well, it's 55% for the green wave.
Let's give it a spin
you got a lot in size seven. Congratulations. It is way to Wednesday.
I forgot.
What do you want to play, Cy?
You can get to call it.
Thanks for pushing that volume through.
All right.
Let's.
Says Lamb Chop.
Let's do it.
All right.
I've built this little comfy
XMR position.
I'll tell Mando here
into his $400 call.
All right.
All right. let's go.
What are we planning?
Lamb chop.
So how do you want to do it, Si?
You want to go tracks?
Easy?
How are you thinking about this?
Wait, why is my share screen not sharing?
While we wait, folks, I think Charlie put this in the chat, just so you're aware.
Yeah, yeah, yeah. You did put a new claim process through it's going to be a hundred dollar claim per day
you'll need to log in go to your claims and make sure you do it every day because if you don't then
i think you may not be able to claim it so just make sure that you see the new uh the new claim
overlords our our friends our overlords already changed the process a little bit so you just have
to go through your account, right?
Like you press on where the gold is or something.
That thing goes to your account
and you claim every day $100.
That way you slow drip it.
Easy tracks.
All right, let's go.
So congrats, by the way.
Cyrus, you already made $500.
And now let's see what you make out of the $250.
Oh, the music.
Let's put it back on.
All right, let's have a run.
Let's have a run.
Let's have a run. Yeah, yeah a run. Let's have a run.
Yeah, yeah, yeah.
All right.
Oh, no.
All right.
Well, it can't be that bad again, Cy.
It's almost impossible
to be much worse than that.
Easy tracks to get?
All right.
Let's run.
Come on.
No way.
Oh, my God.
Oh, no, man.
Same position.
Oh, no.
It's because we've had a few good runs, I think.
We've had a few too many. We're sorry, Sam.
That was really good.
Yeah.
Ways of Wang took all the luck for everyone for a few weeks
on his three near barn runs on Monday.
Yeah, that's definitely what happened.
Well, with that being said, we do have a good show tomorrow.
We have Brian Pellegrino, co-founder and CEO of Layer Zero,
coming on the show tomorrow.
So that'll be a big one.
Oh, yeah.
Really excited for that one.
With that being said, we'll see you next morning.
10 a.m eastern standard time peaceんん
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