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CRYPTO 101
Crypto Rundown: BITCOIN ALL TIME HIGHS, Pump.Fun ICO Information, & The Top Meme Coin Trades
00:58:22
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- [00:00]
Host
Foreign. Everybody. Welcome back to another special edition of the Crypto Rundown. It is a special episode with Brian and Joe, the momentum money makers. We brought them on, guys. We are literally basking in all time highs. I know we had an episode earlier in this week with Brendan. We are going to start that off and kind of give you the update of where bitcoin is as it has pierced through and eclipsed to new all time highs. But we told you here first on the first rundown, there's too much excitement. We had to give you two episodes a week and I've actually been teasing this fellas, to the listeners out there, is that we are going to be bringing you guys back on a more regular basis once we figure that out later in the summer and get a schedule so excited that this is a new normal. Brian and Joe, welcome back. Brian, how are you?
- [00:51]
Brian
Hey man. Bitcoin all time highs. I dressed up for the occasion, got the bitcoin T shirt on just to kind of flex to anybody out there that doesn't know much about it, but living the dream.
- [01:00]
Host
That's awesome. Joe, how are we today?
- [01:02]
Joe
I'm euphoric because I got my wrecked drink delivery right before this live stream. Bitcoin's all time high and I finally got in on hood tivo. You, you'd be happy.
- [01:13]
Host
Oh my God, man. Talk about finally joining the party. But yes, we're, we're glad to have you and I'm, I'm excited to hear you say that. We didn't even have hood on the sheet today. I know the listeners might sometimes get tired of being repetitive, but hey, if you have a 10X, let them know. Like I gotta be honest, if you have a 10x, you let them know.
- [01:31]
Joe
So.
- [01:32]
Host
But we're glad, we're glad you're here and I guess that's a, a vote of confidence for the future. I am still, I know Brendan is as well, still big, big holders and big believers, obviously. I'm sure you guys were aware we did a whole episode of the Rundown on the Robin Hood Arbitrum Ethereum tokenization announcement. So a lot of exciting stuff going on in just crypto in general. Man, these rundowns, guys, I think Brendan and I have done two in a row that has been an hour, an hour long. So there's just too much to talk about. Speaking of Brendan, I know he's not here today. He, he wishes he could be, but I wanted to start off just with a clip. If you haven't listened to that full show, you should definitely go back. He did some technical analysis on bitcoin altcoins and we had a whole again hour long episode about stuff that we didn't even get to talk about because we have a whole nother rundown that we're doing today. But let's watch. I got a clip of Brendan's technical analysis teeing up bitcoins. This was two days ago with Brendan.
- [02:27]
Brendan
And that's what it looks like. What's happening over here on bitcoin right now. We don't know what kind of, you know, maybe news or unforeseen catalyst can get thrown our way. We really can't control that stuff. So in like the day to day, you know, there's going to continue to be volatility. But I think that the bigger picture here becomes a whole lot more clear. Especially when you zoom out and you look at some of these indicators. It's like, well, the RSI is sitting neutral, the main MACD is sitting neutral. I'm pretty sure the fear and greed index is still neutral. As we talked about last week, we're not in some overextended territory, which is where I think a lot of people think that we are at, right? They say, oh well, bitcoin's at all time highs. Maybe it's close to being overextended. No, it's the opposite.
- [03:10]
Host
So there you heard it straight from the horse's mouth. That's what you get here every week on the crypto rundown. RTA leading the way there by kind of teeing it up and saying, hey, we've been in this range, we've been talking about it non stop for, for wow, weeks, months now. And you know, he kind of teed up there for you. He told you multiple weeks in a row, he sees this again, we go risk reward ratio. This isn't personal financial advice for anybody. We are not future tellers or magicians. But we've been telling you for a while that the, the risk reward ratio is to the upside. And I have a clip in a little bit, I'll play that. Just Bitcoin's been looking like a coiled spring here. And so Brendan was nice enough to take a minute to send us, send us this chart. So we'll pull it up. This is, this is bitcoin here. And you can just tell, you know, since the end of April, beginning of May, we've been kind of in this range, right? We tapped our all time high, we set it and then we kind of went back, tapped it again, range bound range bound Range bound in the top right here. You can see that we finally broke through to all time highs. Congratulations to all the bitcoin holders on all time highs as it is always fun to celebrate with your friends which is why I brought Brian and Joe on today. But besides all, all the price action's fun but like what's lying underneath And I think that we touched on that earlier in the week. We talked about the exchange, the amount of bitcoin on exchanges and the OTC desks are low and so we're having some buying pressure. We, we really did a number or a big segment fellas, on the M2 money supply. Absolute hockey stick. Is bitcoin price going to catch up? And then Brian, you brought us some stats with the etf. So I'm going to pull those up and yeah, just share with the good people what some of your findings were around these ETFs.
- [04:50]
Brian
Yeah, I mean great point about bitcoin supply on these exchanges at an all time low. That's obviously going to be a great squeeze. And you can just see it's a sea of green. What are we on the Bitcoin ETFs right now? It's a sea of green. Every single day it seems like more investors, more institutional monies flowing into these ETFs. And then when you click over TiVo to the Ethereum side of the ETF side, this is why I put it on our sheet, what I found very interesting. And we've seen Ethereum, you know, it's, it's catching a lot of love right now. You know, it's catching enough hate now. It's catching a lot of love. And we just saw what yesterday, July 9, over $200 million flowed into Ethereum. And I think bitcoin was right around 216. This is really the first time we've seen, I think since the ETFs have been released where Ethereum is almost matching the amount of volume flowing into the ETFs to the Bitcoin ETFs. So that me pretty bullish on Ethereum. I know we're going to talk a little bit about these corporate strategies and why Ethereum's catching some love right now. But I just thought that was extremely interesting that we saw 200 million plus flow into these Ethereum ETFs at a much smaller overall market cap compared to bitcoin.
- [06:02]
Host
Yeah, it's a great point. I mean the stats show it and I was just, I always keep on CNBC for listeners that don't know just Like Fox Business or cnbc. In the background there was like a roundtable like you know, fire quick hitters list and you know, everybody's like, oh, bitcoin's breaking out. And then first time is the first time I've heard it. And people was like, well I like bitcoin but Ethereum, Ethereum might be playing the catch up trade. Robinhood announced that they're building on Arbitrum a layer two. And I'm like looking at, I'm like this, I make a comment like this guy, this guy's never talked about Ethereum. Did he say layer two? I'm like, what is going on? The takeover is real and the, and the money, the money is flowing in. So Joe, anyways, any takes on just the bitcoin all time high celebration that us three are having today? What's your thought on btc?
- [06:47]
Joe
Well, I love BTC as the main runner because when BTC does well, typically, you know, it flows over to all assets, which we know and love. So Meme Coins is seeing a big pump, billions of dollars added under the market cap. Finally, what triple tapped is descending trend line and everyone's eyeing this point. Is this the time and we're seeing some pump on Ethereum meme coins which we called out to our community. So it's exciting times all around when bitcoin hits all time highs.
- [07:10]
Host
Yeah, we got a great rundown. Just to tee it up on the back half here. We're going to be deep diving into some meme coin stuff. We got pump fun news which I know these guys are absolutely in the trenches in. And that's the, the one I'm most excited about to learn about. And yeah, we got some meme coin news. You know these guys, this is, this is what they study. This is what they run out of the tunnel for every day, right? This is what we play for. So stay tuned for some meme coin insight. I even think. And, and we'll touch on it later. Maybe a little sneak peek, but even, even TiVo had a winner in the meme coin market, right. Recently, which we've mentioned on the rundown before, but we'll touch on that later. Did you know your credit card points and miles can lose value to inflation while they collect dust? And credit card companies often reduce the redemption value of your points and miles. Now imagine a credit card with rewards that can grow in value. With Gemini credit card you can earn Bitcoin or one of over 50 other cryptos instantly with no annual fee. Every swipe at the store or gas pump earns you instant rewards deposited straight into your account. Plus sign up now for a $200 bitcoin bonus to kickstart your rewards. Visit gemini.com card today again if you're looking to invest in Bitcoin but don't know where to start, or you're a faithful listener of the Crypto 101 podcast and love bitcoin and other cryptos, visit the Gemini credit card website so it's easy for you to earn even more bitcoin or crypto with their credit card again. Visit gemini.comcard today to learn more. If you have been considering futures trading, now might be the time to take a closer look. The futures market has seen increased activity recently and Plus500Futures offers a straightforward entry point. The platform provides access to major instruments including the S&P 500, NASDAQ, Bitcoin, natural gas and other key markets across equity indices like energy, metals, forex and crypto. Their interface is designed for accessibility. You can monitor and execute trades from your phone with a hundred dollars minimum deposit once your account is open. Potential trades can be executed in two clicks or for those who prefer to practice first. Plus500 offers an unlimited demo account with full charting and analytical tools. No risk involved while you familiarize yourself with the platform. The company has been operating in the trading space for over 20 years. Download the Plus500 app today. Trading in futures involves a risk of loss and is not suitable for everyone. Not all applicants will qualify.
- [09:23]
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- [09:52]
Host
Let's tie a bow on the bitcoin action here. Just a quick clip I saw of again, this is the type of stuff I think it can go both ways but I still, I still personally, I personally think it's, it's still early but when you start seeing, you know, bitcoin, come back onto the A and the B blocks. And I think I've explained this before on the shows like when you watch tv, there's an hour segment, right? An hour news segment and it's called the A block. What do you lead off with? The B block is secondary and then you have some add Ons at the end. And so I think when bitcoin first hit 100k, it was on every A block and it was super exciting to see and we were all having fun and altcoins were flying. And then we, you know, we definitely took a little bit of a breather. Now we're back. And it was mentioned again, it went to like B block and then it hung out in this 100 to 110 range. And if you're doing a, a media gauge on the hype of bitcoin, it fell off like people really weren't talking about it. I feel like for the last month, two months plus in this range, which, which is a good thing because you don't. It's not. The hype's not overextended. But here's just a clip I found and this is just kind of your, your typical A block Fox business as well. I want to take another look at another name that you like here, and that's bitcoin. Now, if I read the notes properly, did you say 140,000 for Bitcoin? It's possible from here.
- [11:12]
Market Analyst
It's very possible with from there. And I don't want to oversell it. And look, I'll leave the story to the palm, but I focus on the charts. And, and this chart is coiled like a spring here. Now keep in mind, as many of these momentum stocks have surged off the bottom. Bitcoin's been doing yeoman's work of consolidating within this well defined trading channel. But it is coiled, as I said, to break out and play catch up to names like coinbase, names like Robinhood that are already back high. So a breakout above 110, which is last resistance projects measured upside to 140, with upside from there to 170 as well.
- [11:46]
Host
I love that yeoman's work, that's like, it's like a hockey term in the corner, in the dirty corner there. We're doing yeoman's work in the corners. Dumping, chase, jumping chase. I know you like that one, Brian, but yeah, bitcoin, all time highs. I mean, you listen to this show week in, week out, you know, we've been calling for it. So congratulations. If you're somebody who's kind of tuning in to be like, oh my God, bitcoin all time highs. What's going on, guys? Stick with us. Stay with us. Week in and week out. We forecast, we kind of give you, we roll the red carpet out of not what's just going on in bitcoin. We but what's going on in the entire crypto market. And again, if you've been listening to this show and paying attention for the last couple of weeks and months, we've been teeing up this Ethereum trade for you. And I think the most interesting thing is the Ethereum trade has come in many different ways. It's come in eth and it's come in a lot of different tradfi trades as well. So Brian, tee us up with some of the links you brought to us to start the eth conversation. And I know Joe has some thoughts on, on kind of the tradfi market as well, on how all this Ethereum hype is, is hitting the markets.
- [12:48]
Brian
Yeah, it's been getting some love. I mean we have Tom Lee with Bit Mine making that announcement, $250 million investment in Ethereum and obviously talking about its advantages with a stable coin and correlation there. But we have a lot of other companies out there. For instance, there's a company called Blockchain Technology Consensus Solutions, they saw their stock jump what I think about 100% and they're planning to buy about 200, 225 million more dollars worth of Ethereum. And we're seeing this happen more and more. There's a company out there called Game Square. Their shares surge. This is all in traditional finance guys. This isn't some meme coin or altcoin out there. This is traditional finance. Game surge like 60% after its board approved $100 million Ethereum treasury initiative. And then we can't. When we're talking about treasury stocks we also have to talk about sharply. That's s bet is the token and that's up over 100% over the past week as well. It's just very encouraging for the Ethereum lovers out there. The Ethereum market we have Bitcoin, what we're passing all time highs here, right boys? I mean it's 113, 114. Who knows where we close the day at Ethereum still trading what, 2800, 2900 bucks still below its all time high. And with everyone talking about Stablecoins now we have these corporate initiatives to add these to balance sheets. We see these ETF inflows to Ethereum. It's making me extremely bullish on Ethereum as a whole. Again I'm excited. I think we're going to see a really nice leg up here. We can talk about this later in the news. But I also think there's opportunity in some of the Ethereum meme coin sectors. Is almost a beta play to Ethereum. If you don't want to buy Ethereum and you want to have a little bit of gamble, there's some really good opportunities. But what I'm talking about here, TiVo, is that we're just seeing not just bitcoin treasuries anymore, we're seeing people add Ethereum treasuries and I personally feel I'm going to kick this back to both of you. Are we is like retail in this yet is the bitcoin in Ethereum trade? It feels like they're still somewhat sidelined. My dad hasn't text me should I buy bitcoin right now? So it just feels like this is institutional money flowing in and I think we're going to see another leg up with retail.
- [15:10]
Host
Yeah, I couldn't agree more. I don't, I don't hear, I don't have friends texting me about Ethereum yet. So when that, when that comes, that's definitely, definitely a sign and you can just kind of tell that there's a huge appetite and I wouldn't say it's retail, but there's a huge appetite for people. Tradfire. Right. I mean you're seeing the, you know, Tom Lee puts out a ticker with his, it goes boom, it flies up and it's I think pulled back more recently. But sbet same thing, these announcements, they fly up. So there's, there's this pent up demand. I think it was Pantera Capital kind of had a, a sound bite that I heard that was just like you're seeing these, you're seeing these tradi tickers skyrocket on these announcements or IPOs like a circle and there's just so much pent up demand to, to get into this ecosystem and that's proving and then over time that'll obviously dissipate. But you're going to see a lot more IPOs I believe this year and next year and you know, these 2, 3, 4, 500% rippers that look like legitimate low cap altcoins but it's on, you know, on traditional exchanges with Tradfi. I don't think that's going anywhere. I think that's, I think that's not here to stay. But I think that's going to be the kind of the trend for the next year. But at the same time again we're always disclaiming like this isn't personal financial advice, like I wouldn't go. And the next ticker you hear that's doing some type of Ethereum strategy or whatever, put your money in because it just doesn't, it's not, it's not really how it works. Right. Like, I guess if you have some insider knowledge, not that we have any of that, but if you know what's going to happen before, I guess that makes sense. But if you just keep. It's like we teach all the time in Brendan's trading course, right? Like if, if you, you know, you buy that hockey stick, eventually, eventually there's probably going to be some type of correction and I know with Tom Lee's one that went absolutely parabolic, like if you compare it to the actual Ethereum that they have now, they want to buy more and they're going to put processes in and they're going to stake and they're going to do the treasury business and sell, you know, do the sailor thing where they're going to raise money to buy more Ethereum. So yes, in the longer term you're betting on that. But you know, out of the gate two days later when you know they have 10, 20 times of the Ethereum they actually hold, is, is a little, is a little too much, I guess for my liking. But I don't know, I don't, I don't think that's going to change.
- [17:26]
Brian
You know, you make an interesting point that I just want to get back on. Is. So we have these companies using their stock to buy Ethereum and they get more equity and then they use that equity to buy more Ethereum and sell the stock. It's like this very interesting cycle, you know, bad for the stock, good for Ethereum, Good for the stock, good for Ethereum. It's going to be interesting to see how it all works out, but I think we have a long Runway until things could get nasty.
- [17:51]
Host
Yeah, I couldn't agree more. Joe, do you have any thoughts on, on Ethereum? Are you, are you diving into. I know you said you bought your Robin Hood. It's kind of a little bit of Ethereum, you know, a little bit of Ethereum play, I guess with the tokenization, but you know. Any thoughts on this stuff?
- [18:06]
Joe
Yeah, just, just over on Tradfi to Brian's question. I don't think the big hitters, the big hitters are here, but there's going to be more liquidity flowing in because all the money is in US equities right now. And a lot of people who want to invest and can invest and the best example is like, you know, Kevin o', Leary, one of the billionaires in the world, he can't buy dirty Bitcoin, he has to buy Bitcoin that's mined cleanly. There's all these rules and regulations. Specifically in California, where I'm at, there's a lot of things that you can and cannot invest into. So there's still a lot more coming on board. And these evolutions in tradfi, I wouldn't say the Treasuries, but like, let's say Osprey just came out with Solana stake in etf, like, that's on a more positive side. Why would you ever buy Solana? You never would. You would buy the stake Solana. Less risk and it's the stake Solana. So there's definitely a maturation process. I see that's slowly happening. I mean, we've been earning these yields in defi for a long time. But I mean defi is just more yields. Staking is just like table stakes, right? So it's just slowly getting there. And I think there's going to be huge appetite and I think everyone Wall street sees it. So although you shouldn't treat these Treasury NASDAQ plays like meme stocks, although I might. But Kraken coming make an ipo, that's something worthwhile. So things that are. That actually makes sense, like Robinhood launching Arbitrum. Like, that's why I bought more in the hood, you know, T bot you've been talking about hood forever. And I was like, oh, this looks juicy. When they had a dip down, didn't get in. I'm buying at the top now, but I'm a believer. I've drank the Kool Aid. I move a vast majority of what I had in terms of ETF crypto ETFs into Robinhood. So there is a. There is these proxy plays that you can do to. That's still crypto related. It's not, you know, tradfi. It's. It's kind of like a blend of tradfi and the crypto world now. So I'm excited because I think as much as we love crypto, I'm sure most of us, we have a large position in U.S. equities and or traditional finance. We would love more exposure to crypto. Like, I rebalance my portfolio all the time. I'm like, I need to get money out of stocks into crypto. Like, honestly, this was my conversation with my wife this last week. You know, we do our monthly meeting and this is a great way to do it through, you know, these traditional instruments. And I'm glad it's coming on board. It's not self sovereignty, but I saw a funny tweet that said there was a news alert telling people to drink water because it's hot outside. And you think people can manage their own hot. Manage their own wallets. It was like a very funny tweet. I was like, true. And the whole purpose of that is to say that, yeah, I'm okay handing over my keys to Robinhood safer than myself because there's so many scams out there.
- [20:27]
Host
Yeah, I think just two points actually. The one of trusting Robinhood again. And I know we've talked about it inside our group and group chats, but like, I've heard, I've seen it online and be like, oh, you can't trust Robin Hood. Remember what they did? You know, I think we even talked about it when, you know, you didn't get the circle ipo and we were trying to figure out the email, like timing of everything and we were a little upset, maybe they didn't communicate as fast. But it's like that, that whole, that whole GameStop thing had so many layers with the Citadel and Ken Griffith and all that stuff. So like that, that as much as it's a huge black eye in their history, like, I don't think that was like, it wasn't just Robin. That's my opinion. And then on top of that, just like, you can't let one mistake, like, and you can't let one event choose your entire investing strategy. Like, imagine not doing the research and seeing kind of what was was written for the last two, two years for Robin Hood and their direction in crypto. And not again, if you don't want to buy the stock just because of that, that's one thing. But then don't complain when you don't get the 10x, you know what I mean? And to build off that point, let, let's take a step back, honestly, and flash up some warnings for our listeners because it's not as easy as just being like, this is the next hot thing. They're in crypto. Oh, it's going to fly up. Because there was a, there was an IPO that Bren and I were watching and it was, it was Weeble and Weble. Had a lot of hype coming out there. Oh, another exchange kind of doing things a new way. They're into crypto. We bull's going to the moon. And that thing went out. And then it, dude, it flew. It flew. It IPOs at 10:12, it flies up to 62. So we're talking about a 5, 6, X. Right. And Brennan and I are sitting there. We're just like, man, like, I can't believe it. Like, we missed it. We knew it was coming and we missed it. And I was like, I'm not getting this here. Like, I don't think this. This doesn't. It's too much hockey stick, right? And then you can see right after. Look at that. Just absolutely right back down to earth. Basically trading a dollar above its IPO price now. And again, Nothing against Weeble as a company, but some.
- [22:26]
Joe
Some.
- [22:26]
Host
Some stats. Again, you got to do your research, and you gotta. You know, it's not just. Does it have the hype? Is it the hype cycle? Go do your research. And I think, sadly, some of the research that came out of Weeble was a lot of their active accounts were. Were. They weren't fake accounts, but they were like promotional accounts that people started and didn't keep active, and they kept those into this active account. And it was just people open some accounts for a promotional thing one time and then haven't touched it in a year, two years. So. Oh, look at him. Joe's pointing at himself. So that. That's kind of goes back to my point of we. We gotta. Not. Not. Trust isn't the right word. You gotta trust yourself and your research. You gotta do the research. Just because you see an IPO and then you're gonna see some analyst on TV or some tweet that's like, oh, this IPO is gonna be tied into the crypto hype. It might be. And it might rock it up like that. Weeble. And then you gotta make sure you know what you're owning and at what price you're owning it. And do your research, because it can come back to earth very, very quickly. And that's just the darker side of the hype cycle is buying Weeble at 60, saying, we're going to the moon, and then you're back at 12. So I know that wasn't on our sheet, guys, but I thought that was an interesting way to kind of toe a. Tie a bow on it. So our listeners get both sides of that stuff. But let's. Let's dive into why I specifically brought you on, because Pump Fun has been in the news a lot recently, and for those that might not be new, let's start off. So, Brian, I'll. I'll toss it to you. Let's set up the. What? Pump Fun is why they've been making news recently, and then let's dive into it. So just give a quick Summary of, of Pump Fun as a product first.
- [24:04]
Brian
Yeah. So Pump Fun is a launch pad where you can create a Meme Coin on the Solana blockchain in a matter of minutes, if not seconds. Launched, I think in about January of 2024. Super small team really ran with the Meme Coin hype cycle and they've made more money over the past year and a half than most companies could ever dream. I think they're up over 5,600 million dollars in revenue. And people have been clamoring because during this Meme Coin hype cycle, a lot of them, if you look at the end of a contract address, you actually see Pump P U M P and you'll know that's where it came from. That's where the Meme Coin was derived from. So they're making more money hand over fist, kind of how OpenSea was in the NFT market. They were the only game in town. And we've all been like, when Pump Token. When Pump Token finally. I think it was actually our last rundown together, guys. We talked about this. They made an announcement, hey, we're coming out with the Pump Token. They since delayed it and said it was going to be launched in the middle of July, but it's July 10th right now. They made another very recent announcement. Big day. This Saturday, July 12, they have the ICO offering. Before everyone gets really excited, I've tried to figure a workaround, but in the United States, you're not able to buy this ICO and they block vpn, so. So there's not much of a workaround, but still extremely exciting. And we can talk about our macro ideas and exactly the tokenomics behind this. But Pump Tokens coming, boys. Two days away and it's. It's going to be a huge day. Yeah, this is, this is the thread here by Pump Fun that they talk about just overall exactly what's happening. TiVo. If you look right there in the first message, I'm gonna bring it up. They say something there. Where'd it go? That they're looking to take on?
- [25:54]
Joe
Scroll up, scroll up, scroll up.
- [25:57]
Brian
First one.
- [25:57]
Joe
Yeah, Our plan is to kill.
- [26:00]
Brian
Yeah, their plans to kill Facebook, Tick tock, Twitch on and doing it all on Solana. That line's extremely impactful. For one thing, they're saying that they're planning to kill some of the largest social media platforms ever created. And all they are right now is a launch pad. So they obviously have plans to do something more than just be a Meme Coin launchpad. Looks like they're Trying to get into the social media game. And then at the end, though, they say on Solana and we can talk more in depth about this. I know Joe has some thoughts, but that's important too. They're not coming out with their own layer two. They're not, you know, they don't have their own blockchain. They're not going multi chain. This is all built in, thriving on the Solana ecosystem. So if this token's successful, if their plans are successful, I think it's gonna be very successful for Solana. For Solana Meme coins. And what's this mean to me? I mean, their plans to kill Facebook, TikTok and Twitch. I have some thoughts, but I can kind of kick it over to both of you and see what your thoughts are as well.
- [26:57]
Joe
My only thought was that that promo video does not do this, this project OR Co. Or ICO justice because this is such a big, big company that potentially. Right. And it looks like someone made this on acid. It doesn't hit any. It's basically just targeting degenerates. I watched a video twice and I had no idea what was going on. So it's not correlated with the kill Facebook, TikTok or Twitch thing. At least I don't think so. I mean, you could watch it again. And just bringing It Back to TiVo's point, this is not an IPO, but it's an ICO. You know, remember the ICO days of 2017? And we think. We talked about this, Brian and I, and also the Trenches talked about this too. Is valued at around 4 billion. We think they're going to hit the. Hit the raise amount.
- [27:43]
Brian
Right.
- [27:43]
Joe
They're looking to raise 600 million, but we believe they're going to absolutely, you know, come down significantly over the weekend. So we advise in our community to take a look at this. If it comes down, you know, 60% plus or whatever. Or whatever, we'll make an announcement within our community. But it could be potentially be something because they're raising money for a reason. You have $600 million in the war chest. I don't expect them to just exit and disappear in the ether. I would like them to see do something for the Solana ecosystem. And that's the only input I have. But we could take a look at tokenomics also, if that's interesting.
- [28:17]
Brian
Yeah. You can scan down at the bottom of this tweet, TiVo, and just there's.
- [28:21]
Joe
Like a little pie chart. He's mesmerized. He loves the video.
- [28:24]
Host
That. That video. Yeah, like you said it like somebody who did that was, I mean, I guess I, I thought the video was well made, but I guess I didn't hear it. But yeah, I don't, I don't know. That doesn't seem to sell the vision of, or taking over entertainment. It seemed like we're going to party. Yeah, this was, it was attention getting, but yeah, I don't know if it sold me on the message.
- [28:49]
Brian
I, I think, I think where we're going here is, you know, when you, when you look at crypto Twitter, a lot of people are, are not excited for this. You know, they don't think it's going to be successful. They feel like it's going to be a liquidity extraction and we can dive as deep as you want there. I'm starting to get pretty excited for it. I think it's going to do well. I think it's going to sell out very quickly. I think it's going to initially pump. Obviously there'll be some sell offs with people taking profits, but we want this to do well. Everybody. We have a couple apps in the crypto space. Hyper liquid pump fun. We want these things to do well because they're, they're going to flow into our other bags and this is going to be a bigger opportunity. When you kind of look at this token distribute, how they get distributed, there's going to be 33% of it to the ICO, 20% of the team. That's pretty normal. There's, right here, there's a couple I want to point out it says 24. I don't know if it. Oh, community and ecosystem initiatives. We haven't heard about this. A lot of these tokens can, when they have a flywheel, airdrops revenue buybacks, revenue shares. They're calling this a utility token, not so much a governance token. So there's a real world where if you hold this token, you could gain revenue. So I don't know if we're going to find out about this information before the actual ico. I think they're going to sell this ICO out quickly and start rolling out like, hey, we're going to release an airdrop reward. The OG holders get people embracing it. If you hold this token, you could get a revenue buyback or revenue sharing. The sky's the limit. How aggressive they could go. If they do this right, it could be very good for the entire Solana ecosystem, including just Solana itself. And then one more thing is that live streaming, 3%, there's probably zero people watching this Live stream right now that even knows Pump Duff Fun has live streaming capabilities. There's only a couple people I can name off the top of my head. That livestream 3% of a 4 billion FTV. That's $120 million. What's it gonna be split between the two live streamers? So there's gonna be some major opportunity here for people live. Hey, maybe we bring the. Maybe we bring the rundown to the Pumped Off Fun live stream. Because 3% is an astronomical number. And when I look at that, I'm like, hey, they're gonna give hundreds of millions of dollars to live streamers if this is successful and they're trying to embrace and take over Facebook and Twitch. Very long story short is we don't have enough information to really build a bull or bear case. But with the limited information tokenomics we have right now, I'm on the other side of crypto Twitter. I'm bullish. I think this could be done really well, the right way. Pump the meme, coin bags, pump Solana, and just make Pumped Off Fun really a very interesting place. Other than just a launch pad, this could be a complete media company. And you know they have enough money to do it. TiVo. There's another tweet on this sheet here.
- [31:50]
Host
Question, question for you. This might be a stupid question. I'm gonna put you on, nephew. I don't.
- [31:55]
Brian
Welcome to McDonald's.
- [31:56]
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- [31:57]
Host
I've been hitting up McDonald's for years. Now it's back. We need snack wraps. What's a snack? It's the return of something great. Snack wrap is back.
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- [33:07]
Joe
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- [33:37]
Host
But if we can't. As US citizens, we. If we can't vpn, we can't buy the ico. Let's say we spin up as a live streamer and have success on the platform and they give us pump tokens. What can we do with them if we can't buy them? Or is that just.
- [33:51]
Brian
We'll be able to buy and sell them. We just can't participate in the initial ICO offering. And it's going to probably. I mean, what's it max going to do? It's. They're going to the 2.3x maybe. I mean it's going to be a lot of money flowing in. It can't go to. It's not going to flip Bitcoin or anything, but it's. It should do very well. And people are getting the ico, not financial advice. So really this is. This is all speculation. Could do really well when you talk a 2.3x for getting in the ICO. So as US citizens, we can't get involved with that, but we'll be able to buy it on the aftermarket just like we would any other token.
- [34:24]
Host
They announce what exchanges they're going to be on or we don't. We don't quite know that yet.
- [34:28]
Joe
Yeah, they do.
- [34:28]
Brian
Yeah, there's. Yeah, in that tweet. Go to the tweet thread. Yeah, yeah, in that tweet thread it shows it. And they'll probably get listed on Tier 1 exchanges and where you can get it. There's another tweet in the sheet tivo when you get a second. It's. I put it as their acquisition tweet. It's from Allen, the co founder. When you get a moment, bring that up because there's one port there. So look at. So they're just talking about how their team was so small. Now they're looking to hire 70 plus people. That's always encouraging. It doesn't feel like a rug is going to hire 70 plus core members. But at the very end, our first ever acquisition will be announced soon. So the question I have who the hell did pumped off Fun by.
- [35:13]
Joe
The pre market's trading it at 4.5 billion. So just a slightly more slightly higher valuation I thought it would be. I was curious to what the pre market because you could trade these on a pre market. Kind of like you know how you can't buy SpaceX but Robinhood's offering it so you can get Pump Fun right now due to whales market, not financial advice. Turn on your VPN type of thing. But yeah, that's a good indicator and good question, Brian. I'm curious who they're buying.
- [35:39]
Host
Got it. Very cool. And is Alon anonymous? Is he Anon or do we know who this guy is?
- [35:46]
Brian
He's the co founder. I'm not sure if I've ever seen his face but I would imagine we could probably dig up who he is, especially if he's doing this ICO offering. I just don't know that off the top of my head. That's a great question. And Joe made a very interesting call out that you can trade this pre market. Hyperliquid listed it yesterday last night so you could do per. You could long and short it on hyper liquid with the perps and they had a hundred million dollars in yesterday just the evening. That's the highest ever that's ever been put into perps on a pre market opportunity. So there's a tension here right now. Again, we don't know enough information to really justify if we think this is going to go to the moon or not. And I don't think we're going to get the information until post ICO as well. I think they're going to sell out and then I think they're going to start making some flywheel announcements.
- [36:43]
Joe
Don't leave me hanging. Was the 100 million on purpose a long or a short?
- [36:48]
Brian
You know, it was both. It was 100 million total volume. But I was looking at it. There was quite a few people shorting it as well.
- [36:55]
Joe
We got to look at Polymarket. Polymarket knows what's up. Let's see what Polymarket says about Pump Fun.
- [37:02]
Host
Let's see. I love this little mascot. He's so much cuter than the video. The video scared me last. What'd you want me to pull up, Joe? You.
- [37:14]
Joe
I was curious if Pump Fun had a a bet on whether, you know.
- [37:19]
Brian
It'S a bullish or bearish I Poly Market. You know, there's one more tweet here then I could just say over there's a few other launch pads as well. So everybody that's in the meme coin Streets may know may have heard about Pump Fun. Let's Bonk. It's another launch pad. The believe apps another launch pad. Radium has a launch pad. Jupe Studio has a launch pad. And just briefly at the beginning of the week, let's Bonk actually flipped for market share. Flipped Pump Fun. But since this announcement, Pump Fund got back, Pump funds are right around a 50% market share and its volumes close to 500 million. So they definitely are in the driver's seat. Now we all know what happened with MySpace and Facebook back in the day as well. You know MySpace, everybody had a profile, then Facebook came out and trumped it. Now nobody goes on Facebook either. So we, we need pumped up fundo. We need it to be successful in my eyes. I'm not rooting for a failure here by any means. I know some people on crypto Twitter are kind of, you know, just salty. Hey, another token, another launch pad. We want this to do well because it's going to trickle back into Solana and Solana meme coins in just overall the entire crypto market.
- [38:26]
Host
Yeah, we don't want a liquidity poll because we know we've seen those and covered those before and they are not, they are not fun. I think we covered. What do we cover here? Phantom Wallet. We already did that, right? Did I miss some links or anything to wrap this up?
- [38:39]
Brian
Yeah, just Phantom Wallets, they're offering perps on Hyper Liquid too. So Hyper Liquid listed friggin pump dot fund perps and Phantom Wallet now you can do perps trading on Phantom Wallet as well. Pretty good news if you are interested into really gambling on longs and short. But so Phantom Wallet, in the next couple of weeks you're gonna be able to long and short positions, something that you haven't really been able to actively do in a lot of platforms. And it's powered by good old hyperliquid. So I'm a big fan of hyperliquid. So I was just throwing a lot of Hyper Liquid stuff in here, but you see that them integrating with Phantom is bullish for both Phantom and Hyper Liquid in my opinion.
- [39:16]
Host
Yeah. And we have Fantom tutorials on the Crypto 101 podcast, YouTube so definitely check them out. Yeah, maybe we got to keep growing those. So yeah, if there's any Pump Fun or Hyper Liquid, any tutorials that can help support kind of what you guys are talking about, we should definitely look into making some of those. And then I got your last. The launch pad here, Brian, is your last tab.
- [39:38]
Brian
Yeah, that's Just kind of what I was verbally saying earlier. You can see pumped off funds leading the way. There's a few other launch pads there with their own unique twist on things. I'm not talking bad about any of them. They all have a very unique twist. I'm big fans, a lot of the teams behind them, but pumped up funds in the driver's seat. Saturday's a huge day. And why Want it to be successful? That's kind of my viewpoint.
- [40:02]
Host
Yeah, Joe, Any. Any takes on how it's going to go. Want it to be successful? Think it's going to be successful?
- [40:09]
Joe
Oh, we want it to be successful because it'll be good for Solana overall and curious what, what the acquisition is, and I'm just excited to witness it, you know, like we teach to everyone. You don't have to FOMO off everything because there's new stuff happening every week. I mean, TiVo, you did a live stream like two days ago and the whole world's changed since then.
- [40:26]
Host
Dude, it's wild. It is. Literally. I mean, every day might be an exaggeration to be able to make like a 30, 40 minute show, but it feels like. Feels like every other day. You can definitely make a 30, 40 minute show, if not an hour like we did earlier in the week. And we're already bumping up on 40 minutes. But let's continue the fun. And nothing's more fun in the crypto meme world for me than pudgy penguins and their token penguin, which I know, basically we've talked on this show many a times. I believe when they first launched it on Robin Hood, we had you guys on it was one of our topics. And, you know, I know, Joe, you've been a huge pudgy penguins guy for a long time, even back to the NFTs, which we can touch on as well in this segment. Yeah, go ahead, Joe.
- [41:07]
Joe
Oh, yeah, I was just pointing at my pudgy pop. I actually got that in San Diego Comic Con. They're actually going to be at Comic Con in two weeks in San Diego. And they spelled pudgy penguin want. Pudgy penguin's wrong, which is hilarious because they're like a billion dollar meme coin and it's a huge draw for a lot of people. But yeah, they made their way into traditional markets through, you know, like I mentioned Comic Con and Amazon and Target and Walmart and you just name it. But you know, what they've done in the crypto world and meme corn world recently that really got them up is be is the announcement of Canary Canary Capitals which helped filed a Peng Apudgy ETF. Now it's not just a meme coin ETF, it's 90% meme coin, 10% NFT. So what's going to happen is that if this gets approved through the SEC and the SEC hasn't shut it down, the reason the price is up about how much is it up this week? I would like to say 30 something percent, 40% this week is because the SEC is looking at it right now and it would be the first of its kind of a Meme Coin NFT blend. So once the ETF gets approved, they're actually going to, I mean they might already have the NFTs in custody already, but it will be a major push into the pudgy penguin ecosystem because there's never been a Meme COIN and NFT etf. I know that's a little bit tongue twister there.
- [42:17]
Host
Yeah, no, for sure. We'll bring up the, let's bring up the chart right now. So one week we're looking at depending on your timeline on the starting day of the end week. One week's 23%. One month here. If we click on the one month we're talking about a 72%, 73% rip and kind of, kind of if you look at the chart here on the launch and then you got kind of this dip which was a, a market dip. Definitely some, some got caught up in some liberation day and just kind of like a whole sell off here. And I, I was remember asking you guys, kind of like, you know, picking your brains, like basically I think what I saved for the show, when we were talking pre show, I was like, let me save this for the show. And I, I, I think again it's can't be personal financial advice for everybody. Just a couple friends talking crypto here. But when I was trying to play the meme coin game with you guys and I know Brian and I were texting that night when Trump Coin launched, that was wild and fun and you know, you get your winners and you obviously, you know, you got to be honest with yourself, you go and you grab a couple losers and you guys were wicked early on fart coin and when all, when all that stuff was going crazy at the beginning of the year, you get, you start and same thing with all coins in general. Like for me, I start to get spread too thin. I want, I want them all, I want them all because I think they're, I think they're all going to go up and as we all know, there's. That's not how it works. And so I just kind of remember kind of coming back, resetting, resetting my base, especially in the meme coins. And I was like, I gotta. I want to ride one, because I definitely believe in the coattails of. Of one or two. And I was like, far Coin was one that we went with, because I know we had Renick Paley on. He was. He was pitching his fart coin. And we. We kind of, you know, you guys found that wicked early. And then Pudgy Penguins was always one that I heard, you know, Joe talk about and. And Brian, you guys brought up, and. And I kind of looked into it and I thought it was cool what they're doing, and they're selling the plush dolls in Walmart and they have an active community. And then they launched Pengu. So I had my eye on penguins. Like, all right, I'm gonna. I'm gonna buy it. But, like, the meme coins are volatile and, you know, if people in your community know and enjoy how much they get to interact with you because, you know, the volatility, as much as it sucks when it goes down, volatility is opportunity. So I was like, I'm going to. I'm going to keep an eye on this Pengu token. And sure enough, it went down and I, Yeah, I gobbled it up around here. Around, like, it was like seven. Went all the way down to four. I didn't get it. Four. I think I got in at like 6.6ish. And then I. I remember texting Brian. Brian, you can confirm it was like, it was about 15, 16. I was like, hey, what are you thinking here? And then you're like, yeah, I think go higher, but definitely some resistance. And I. So I sold. I sold at 15. And then I texted you again when it was at nine. I was like, I think I'm loading back up here. So I've been. I've been riding the pudgy. The Pudgy train with help of our momentum money makers of Brian and Joe for. For moral support, for sure. But this thing. This thing definitely looks like kind of. Kind of a breakout. I mean, we're not doing technical analysis. We leave that for Brendan. But, I mean, it looks to me like it really wants to hit that 24. And then it would probably have to consolidate a little bit to get bounced back up here. But what are your thoughts on Pengu? And if you can educate, because I'm not super tuned into is. Is there when you buy Penguin, Hold Pengu, how is it related to the NFTs? And then, Joe, I know you had some thoughts on the NFT projects as a whole.
- [45:34]
Brian
Yeah, I, well, I can confirm that TiVo is the greatest Pengu trader of all time. These texts, this exchange is 100 spot on because I kind, I kind of laughed at him. I was like, I, I, I don't trade my Pengu. I just continuously dollar cost average in. When you sent me that text, I was like, man, that's, that's smooth moves. And even. I even told Joe just the other day. It was a few days ago, because we've made this call to our community quite a bit, just one recently, a couple weeks ago. But I messaged Joe, I was like, I'm buying a little bit of Pengu here. It was like 800-900-million market cap. I was like, this feels like criminally low under a billion dollar market cap when you compare it to. If you even want to call this a meme coin. This coin's doing more than most altcoins have even dreamed. So it's, it's much more than a meme coin. And its connection to the NFTs are if you held the NFT, if it was a big pudgy, a little pudgy, some of the accessories that you were actually airdropped for free, the Pengu token, and you do certain things. So it always kind of trickles back to. They're always rewarding their community. When I worked at DraftKings, I don't even know how much I can get into this from a legality standpoint. We were talking with the Pudgy Penguins team about doing something with DraftKings for some time. Never came to fruition. But the one thing they just kept harping on, I still remember, I mean, even if we were offering more money or more share, they were just like, we want to reward our community. We do not want to extract from our NFT community. We want to reward them. I remember getting off calls there at the draftking days and kind of with the guys I worked with, I was like, man, they're completely different than any other NFT company that we've worked with. So it makes me very bullish for their vision overall and what they've done up to this point, extremely impressive. And Joe, I'll kind of kick it over to you because I know you. I've been bouncing ideas about Pengu off of you for a long time now.
- [47:30]
Joe
Yeah. Pengu is incorporated with the abstract blockchain, which is the blockchain that the same founder created. So there is a plan for the Pudgy Pengu. Pudgy Penguin. The Penguin meme token is not laid out yet because of. The owner is focused on building the TGE event, which is the token generation event for the blockchain. Once that's done, by the end of summer, his full focus will be integrating and potentially promoting the Penguin token. He's got a lot of splitting plates, like to get the Walmart Target deals. That was the first one. He's got that nailed down. The blockchain is the next one. The Meme Coin he launched in the middle, and he's slowly integrating it, which is a good segue to our next topping segment, actually. Yeah, go ahead.
- [48:17]
Host
I was going to say before. Before we get off of Pengu, I guess credit to making a good trade, but I think it's a testament to having you guys and Brendan and our team and our community of, like, talking about this and researching it and putting it on my radar. Because without you guys, it wouldn't be on my radar. And because it's on my radar, I jump into it and, yeah, I might try and trade and you win some, you lose some. And then I'm kind of figuring out after a little dip, I'm like, all right, what am I looking at this Pengu. And then. And then you see this. I mean, you see Pudgy, I'm eating my. I'm have my iced coffee and. And, you know, a little donut in the morning. Nothing wrong with that, right? But I'm just like. I'm like, is this that Pudgy Peng, like Jim Kramer's like, in the opening bell of Vanx shares with Pudgy Penguin, And I'm like, pudgy Penguin, you know, like, ringing the NASDAQ and then I just, like, open up. I'm like, nine cents. I'm like, oh, it's down, like, down 20, 30% since I sold. Let's buy. Let's buy some more. We can't. You can't ring the NASDAQ and not. Not buy more. Pudgy Penguin. Not financial advice, but at least for me. I mean, this is like you said, there's no Meme Coin team like it. That is a first. That is, if we are. If we are, if we're talking legitimate here, if we're being honest with ourselves, a Pudgy penguin ringing the bell on the NASDAQ is very similar to one small step for man, one giant leap for mankind walking on the moon. It's never been done before. I mean, I. It was. Bored apes was the coolest thing. Bored ape this, bored ape yacht club that. I don't see any bored apes ringing the bell. I see pudgy penguins ringing the bell. And that. That is a first that gets people excited that we're talking about ETFs now. I mean, it's insane.
- [50:04]
Brian
Absolutely.
- [50:05]
Joe
They're. They're writing the playbook. Everyone else is following, and that's what's moving the markets is news like this. And that's why we don't believe it's difficult or as difficult if you're tapped in to find the winners within the meme. Within the meme coin sector specifically.
- [50:22]
Brian
We just got a huge bump of.
- [50:23]
Host
Viewers after that ran. I think people were clicking in and started seeing TiVo.
- [50:27]
Brian
Go on one there, go off king.
- [50:29]
Host
Hey, let's get some likes, some subscribes. We're doing this every week, guys. It's the Crypto 101 podcast. I hope you're all having fun here. We're on the back end of the show, so make sure you watch the front end, but let's continue on. I wanted to. I cut you off there, Joe, but where did you want to take us next?
- [50:44]
Joe
Yeah, bring us to Direct Coin, because what. What's happening now is that a lot of meme coins and or NFT projects are copying the Pudgy Penguin playbook because they pushed into physicals in the stores, they pushed into products, and Rekt has done that with drink. So I'm holding one up here. They've actually teamed up with Pudgy Penguins. Maybe the reason they were doing well, because they had over 100 to $200,000 wallet integrations because of the pudgy ecosystem. That's how powerful the pudgy penguin ecosystem is. And if you scroll down, there's a flywheel. This is just a white paper. It's pretty long. But this is what's happening with meme coins. Some meme coins just go all the way down. You'll see it. It's like a bright flywheel. There it is. You just passed it. Go up a little bit. Up a little bit. Up a little bit. Up a little bit more. There it is. So they're taking that flywheel and. And they are creating this demand out of selling physical products, which then increases attention for Direct Token because people didn't know there was a Rekt coin. And because of that, the rewards go up. So this is not just a fake flywheel. They have a rewards pool of is worth $60 million. Right now, because the, the market cap of the tokens worth 150 million, I predict this token, this coin, not financial advice, can get to 300, 400, potentially $500 million, which would then bring up the rewards pool to $120 million. So when Brian was talking about oh, pump fund with 120 million for streamers, I'm like, dang, REC Rewards has half of that already and they're giving it out to people who buy their drinks. It's crazy. I just bought a drink for $70. I got rewarded with $450 in REC token. Like I kid you not, this is, it was ridiculous. So I can't wait to see what's that because. And so this flywheel is working on myself. So the drink demand's going up. I want more drinks because I want more rewards. And actually they don't taste that bad, right? Brian, like Brian's had the drinks.
- [52:53]
Brian
The drinks are elite. They're sparkling water. And I wasn't sure if I was gonna like it or not. I was buying these drinks initially because I wanted. I've been, I've been a REC coin holder for a very long time. And it's interesting. TiVo. This is also derived from an NFT project as well called Wrecked Guy. The founder is a very interesting individual, very sharp individual. OV or OSF on Twitter. I think he's one of the best people in the space. He was from the traditional finance world. Started doodling this Wrecked guy because we all get wrecked, you know, meaning you know, you and enough coins, you get wrecked. And when he's in traditional finance, so he made an NFT project, drop those NFTs for free. I had a whole bunch of these NFTs. So you held NFTs, you got rewarded in Rekt tokens. And again, it's all about rewarding your community. That's the two big things that these two companies, Pudgy Penguins and Rekt, do really well. They reward the people that support them. It's really easy to do at the end of the day. And this derived from a very well known NFT project. I'm not even sure what REC guys go for right now. Probably half an ethnic. And they continuously get rewarded. You buy the drinks, you get rewarded. I'm a huge fan of this. We've called this out a handful of times, our community. I think the first time we called out it was like a 12 million dollar market cap. Joe, you called out like 20 million and now 150 million. And I still love it. I love it here it's, it's kind of, it's kind of another pengu in my eyes. And it all goes back to rewarding the community, rewarding the supporters. And you have strong factors. Founders Luca Nets for Pudgy Penguins is elite. OVI for Rec is elite. And I'm just excited. They've, they've evolved more than just a meme coin. They're these brand coins that are doing more than most altcoins could dream. We hear a lot about these altcoins, like, we're going to launch this, we're going to do this. And it never comes to fruition. These are meme coins are actually doing it and the community's supporting it and it pays off financially. It's awesome. Yeah.
- [54:50]
Host
And then just, just a quick plug, shameless plug. But, you know, Brendan and I talk. We, we talk all the time. Brendan's the technical analysis. If you want to do Brendan's trading course to get access to him, you know, kind of every day during the week. We have links for that, we have links to the community if this NFT stuff. And the most, the coolest story was, you know, hearing about you at DraftKings and you kind of putting those pieces together of like, hey, this is the type of action that no other, you know, NFT meme team is trying to do. That's the type of insight that these guys have. So if kind of memes and NFTs are more your style, you know, Brian and Joe do have a private community. I'll put the link in the show notes if you guys want to check that out. And they're going to be with us, you know, hopefully weekly or at least a lot more as the rest of the year goes on, which will be a lot of fun. Warning. The following Zip recruiter radio spot you are about to hear is going to be filled with F words when you're hiring.
- [55:38]
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- [56:13]
Host
Fantastic.
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- [57:31]
Host
But let's wrap this up, fellas. Holy cow. 53 minutes. Let's touch on some NFT, some quick hitters here. I see that. You see we got crypto. Crypto punks floors back to 42, 42 ETH, which is about $114,000. You guys have got to buy one.
- [57:48]
Joe
Yeah, Brian's going to buy one.
- [57:49]
Host
You'll buy one live on air.
- [57:51]
Brian
Yeah, okay. I mean, we'll figure that out sooner rather than later. You know, you guys, we get some subscribers and some love. I mean I've, I've fumbled my fair share of crypto punks in the past and I've been trying to get back in for a long time. The floor's terrible. I always tell Joe that. I'm like, Joe, I would, I would maybe think about buying one back in, but the floor is terrible. The reason I put that on our sheet is just a couple weeks ago, punks were below one bitcoin. You always hear about that, like one bitcoin. What's going to flip first punks over bitcoins. That's been going over for a couple of years. Punks were 80, 90,000 there for a little while, but they're back to 42 Ethereum. It doesn't hurt when ETH is getting pumped, but now it's back over bitcoin. If anybody's curious about cryptopunks, you're not gonna get like a punk token or anything along those lines. This is a truly like decentralized NFT project, but it's one of the most OG Ethereum based PfP projects known to man. You have a crypto punk, you're an OG in the space. Hats off to all those punk holders out there. They're just elite NFTs, crypto punks and pudgy penguins. Rec guys. I mean there's some great NFTs out there. I know that a lot of them are expensive, but hard for me to see them not to do well if we keep up this momentum.
- [59:08]
Host
Yeah. And then some movement on, on LeBron James. LBJ a moment. I saw him do a golf swing which was brutal this week online. You see that?
- [59:17]
Joe
Yeah, yeah.
- [59:18]
Host
And hands up, I mean listen, I'm unathletic, I'm washed up, but I could swing a golf club better than lbj, I'll tell you that. But we got some movement on his NFT from Top Shot. Joe, what are you seeing over there?
- [59:32]
Joe
Yeah, I'm the top shot guy. Top shots, you know, still kicking and moving. I'm going to a chop Top Shot event in two days in Las Vegas. They are doing great right now. They're doing a software punks flipping bitcoin number one sales in the was it five figures. We'd like to see like early rotations, not saying NFT seasons back. I don't think that's going to happen for a while in the way that it was. Right. But we are seeing people come into the trenches and enjoy some of their gains and utilize it as an asset. Some of these are assets.
- [60:06]
Host
Yeah. You know who is an asset to Entertainment Television? The dog father, Snoop Dogg. I did see this on my timeline and I was actually excited to see that you put it on the sheet because I wanted to learn more. I didn't know the specifics, but we had some Snoop Dogg NFTs sell out here. Can you guys give me some breakdown on what this was? I saw the headline, but I wasn't sure the specifics.
- [60:31]
Brian
Yeah. So Telegram has this, these NFTs and telegram gifts and Stoop dog had a collection. He's been, he's been in the NFT game for quite some time. You know, he was one of those bored ape Holders always kind of messing around with NFTs and meme coins. And the reason I put this on the sheet, these telegram NFTs are starting to catch a little bit of steam. I don't want to go too much into it. They're getting some attention right now. I also agree with Joe. I think we're far from an actual NFT season, but as we continue to, you know, just rise with overall macros and crypto, people are going to feel rich and they're going to want to buy Digital assets and NFTs. The right ones still have opportunity and in the right cases, the right person promoting it. I mean, what did it say? Telegram gifts? He did 30 minutes out. $12 million in sales.
- [61:17]
Joe
Poof.
- [61:18]
Brian
Kind of wild that we're seeing that a million NFTs going through. So there's definitely a world where NFTs can thrive in this space.
- [61:27]
Host
Yeah, I love it.
- [61:28]
Joe
Last point on that is that we don't only do NFTs and memes. Telegram has notably its own blockchain, which we called out in our community Ton blockchain, Pudgy, Penguin, Penguin Abstract. We teach people how to farm the abstract ecosystem that's going to have their token generation event. So there's a lot. Wherever the momentum is, we're going to be there.
- [61:46]
Host
Momentum Moneymakers are crypto Navy seals. Before we sign off, guys, we always just want to give a shout out to the live Ryan Boyle. And thank you, Joshua. Thank you, dnt nft. Thank you. Question from Joshua. We can just kick this around before we go off. Companies that switch from BTC reserves to Ethan, what stops them from switching back if the price goes down? In my opinion, pretty simple. Just any company can make these decisions on what they want to invest in, buy, sell or keep on their balance sheet, per se. But all those decisions kind of go through the board, right? So, you know, they can choose if the price goes down on one or the other asset. They can choose to sell that asset and move to something else. But it's going to be, if it's a loss, it's going to be sold at a loss. And that's just. Just kind of what it is. Any. Any other thoughts on that question from Josh?
- [62:32]
Brian
You know, that's. That's a good question, Josh. There was actually, I, I hope I'm specifics, right, but there was a bitcoin mining company that was utilizing their Bitcoin as a Treasury asset, and then they ended up selling that bitcoin and buying Ethereum and that kind of hit headlines. Could Be a little off in the specifics, but that's pretty much it. You know, they were big bitcoin bulls and now they're flipping over to Ethereum. But I think it's very similar to like a board decision or a personal decision. Like, hey, we see more opportunity in ETH in this time frame so they're going to sell their bitcoin and move over to eth. I don't think that's meaning anybody's bearish on digital assets or bitcoin, which is obviously the gold standard of all crypto, but they just see more opportunity for XYZ and you know, it's just, I think any, any corporate treasuries or additional companies out there adding to their bags is bullish for both Bitcoin and Ethereum in the overall market.
- [63:23]
Host
Unbelievable. Fellas, thank you so much for joining us. An absolute record of a week. That's two, count them, two one hour rundowns in a row. This is going to be my 32nd sign off to make sure that we get it to an hour just because I want that accolade. But we really appreciate you guys listening. I saw that people got really excited when I went on that Pengu rant. So maybe we'll try to be more manimated in the future. Guys, if you're new here, please like subscribe turn on the notifications because we're going to be going live a lot more over the next couple months because we think the crypto markets are heating up and you can't tell me that they're not because it's bitcoin. All time highs today. It was an epic celebration. Thank you guys for watching and we'll see you all next week.
- [64:16]
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