The Golden Age of Crypto | Kez & Tolks

Transcript

I mean it should be yeah a a really really fun three to to six months plus maybe longer we'll see but I mean it should be it should be a blast so um just you know trying to appreciate it every day and I know it can be a little exhausting and and tiresome but you know this is this is what we do it for this episode is sponsored by scale scale has differentiated itself from other layer ones by offering users a network of gas-free interoperable evml 1s where the user experience comes first explore the gas-free ecosystem at scale. spacecosmos system visit the scale research Hub at scale. space resesarch chaos Labs the

leading onchain risk management firm recently launched its new flagship oracal product Edge Edge delivers integrated High Precision risk and price data for any application with the market follow and reach out to chaos Labs on X to learn more hey everyone today's episode is sponsored by glyph glyph is file coins foundational defi primitive enabling filecoin holders to earn rewards on their Phill tokens by lending them to a diverse pool of filecoin miners got Phil deposit it with file coins first in most popular defi protocol by visiting glyph doio today nothing said on zerox Research is a recommendation to buy or sell Securities or tokens this podcast is for informational purposes only and any views expressed by anyone on the show

are solely our opinions not Financial advice pachio Ryan and our guest May hold positions in the company's funds or projects discussed what's up guys welcome back to another episode of ZX research today I'm joined by talks from page one and kez talk about what's happening in crypto um to start things off I'm going to give a bit of Market color BTC is at 94. 95k uh this is Tuesday December 3D um E is at 3.6k and soul is at 225 we saw 350 milon inflows net inflows for BTC yesterday and Eve had 24 mil in net inflow flows um I guess we were just talking about Soul so I I might just as well bring it up we're

seeing a pretty bad reaction from so I mean BTC is 100k is clearly a tough um mental resistance for people and we're seeing I mean Soul's kind of underperforming I think for the first time in a really long time soul is not like top of mind um and not just Solana the token but also anything on Solana the sh are dead yeah I think I think you're right that though uh it is kind of the first time in a while that salana has been under underperforming for any longer than a few days um so yeah it's definitely it's it's a it's a switch up to the trenches no I mean just like the past I mean really the past week or two like

it's the first time that you know one of the first things I don't do it you know did every morning for the past like year or two years was kind of check the soul trenches and see the launches overnight and you know the past week or two I'm kind of just like oh I'll get around to checking you know kind of what the volume was if there are any good coins overnight like I'll get around to that when I get to it um so yeah it's it's interesting yeah it's a pretty clear shift and it's not just like like you said um checking Discord and checking Telegram and there's nobody like really talking about on tokens it's also kind of a reminder that tokens Can Go a lower than you expect them to um

like a lot of my memes have that I thought were at support are now way way below I was mentioning this the guys before as well but I I checked some prices yesterday and it was like token was at 8 mil like oh like this is fine it's down 70% and then this morning it's down another like 80% um so it's pretty pretty clear shift in attention um and attention is all you need in crypto as um a lot of people tend to say yeah yeah we were kind of just talking before about um it's definitely been one of my biggest lessons is like trade attention don't get attached to stuff um but like we were just saying it's

probably the first time since I don't know like the beginning of the year um maybe even late 2023 that salana has started salana has like uh actual salana has started to underperform and um kind of other stuff started to have big old pumps like the dino coins you know we got H hyper liquid and whatnot um and so yeah maybe kind of the first time that we''re seeing a rapid evaporation of attention From The Trenches again uh a lot of charts that were looking really good now just dog yeah I mean even I just pulled up the for coin daily chart and it just look that's what I'm looking but what's funny is I think you know when we first this was I don't know

was it like six months ago and we talked about when everybody was still kind of debating the mcoin super cycle and we were all on this pod and we came to the conclusion like I was highly confident in it that it is real but the number of coins is just immensely greater than any time in the past so the ceilings on them are lower you know around like 250 304 and then of course you know there's been plenty of times where I've B bag held coins down that you know touch 400 mil and you know go zero to 4 Mill in a week to weeks I'm just like oh no they're going higher and there kind of has been that like glass ceiling on the coins and it's a good orer about like K said you know you're trading attention in a way and there's always new coins there's

always you know other chains other assets and it's a uh I think the past two weeks has been a good reminder of you know you just you always lock in some profits and I I do think that you know that ceiling around 250 to you know 400 mil like without listing things it's it's really really difficult to crack that and it's something that we've seen over and over yeah that's one on the other hand it's also 250 to 400 mil but a lot of them just die out I mean especially with AI coins what I've realized is I think I got in a bit late into the AI coin so that's kind of my fault but um a lot of these that I guess have a product I don't even know how the

hell to describe it because on the one hand I'm like okay like these are relatively cool there's a terminal you can interact with some form of like whatever llm that is talking to you about crypto um on the other hand it might just be some dude in this basement but nevertheless there's something that they're showing as a product there's something there's something there and they are selling off at 20 mil which to me is crazy because if you think about it like we've pumped a lot of dog really really like even xrp the amount of capital that has to flow into xrp to increase its price as it has over the past few weeks is ridiculous and we can't even get a token like an AI token above 20 mil um in the trench that's the attention that has just evaporated isn't

it like yeah you're totally right there's been a just ludicrous amount of flows into like other stuff to pump you know these Dino coins and stuff um and we had that for a little while like even even though we've talked about this kind of stuff the soul soul mean coin super cycle Etc and the and the sheer amount of coins um that there is a bunch like even I was super impressed with the like uh the amount of coins being sustained and the volumes that they were doing every day during November um but yeah once that attention evaporates out like holy to zero yeah no I mean the number of coins thing is is funny too cuz I mean I I have listened to myself this was you

know like a week and a half two weeks ago and I was just like man why do I have like 25 coins on Soul right now like that's just but like then you can you can tell yourself a story about all of them like when you know the market is is good and like volume's flowing and I mean there's down days too but then you know the next day you see them bounce like 40 50% um but I think that's another good reminder is just when you find yourself holding a good amount of coins like you kind of just pause and you're just like okay this can't be sustainable you know um but yeah to the AI stuff like especially on soul I mean I think we'll see it on on Bas a little bit too and we'll get there but I think part of it

is everybody like we've talked about previously like everybody realized this is this is going to be a thing and we're at like that first iteration so I think some of the selloff and you know the Caps that would be like B you mentioned around like 20 25 mil even like 50 mil like a little lower than what we would expect I think it's because people realize that there's going to be a next wave and then another wave after that like the iterations are are coming so I think people are you know a little I want to say like preparing in a way just that like this is just the first iteration the first wave like this was the test run and it worked and now you have you know couple weeks couple months

more people come in like you know developers like the stuff is the stuff is real and you know the earliest stuff has been proven to find some form of product Market fit so I think you kind of just you know you stayed tapped in and and wait for for the next run because I'm I mean I'm highly confident that it'll come so I think that's a little bit of what we're seeing too yeah yeah that makes sense to me I also I also think like like we're just saying like we pumped a lot of dog in November um and like the AI kind of infro stuff AI 16z potentially zero bro I don't really know what's going on with the infro part of that but basically there's these like products the way you deploy these like chat Bots now so I

feel like those coins are done you know for for the most part there might be some that do well but like the space just got absolutely flooded with like these chatbot coins um and they're all just kind of like talking on Twitter and kind of starting to get annoying you know other than AI xbt yeah that's actually a pretty good one he does still get St R all the time yeah yeah definitely but I mean like just the pace and just the the depth of information and like kind of like a CT native way like it's it's pretty impessive like one of the first things I do in the morning I was just go to that account and just scroll back like because if I miss something like it's he's probably going to cover it it's

pretty pretty insane but again that just goes to what we're talking about like you can see how these things iterate in the future too like will axt be around forever like I don't know maybe but also maybe somebody you know a couple you know good devs and like people come in and and then build on top of that like it's just the the way that these markets work so um it'll be fascinating to watch going forward but I think that's a lot of what we're seeing is just kind of preparing for that next wave yeah I agree like um yeah yeah I agree basically yeah that's um something pepper was talking about on the timeline as well he mentioned that um then there will be another AI rotation um this is right

before the base ones did quite well but he was like they won't be your tokens they'll just be a new yeah that's that's the hard thing like you can you can talk yourself into holding yeah you can talk yourself into holding you know go and fcoin and zerob bro and I mean there's endless other ones but it's just like if there is another wave like another rotation like it's probably going to be to newer coins you know so it just goes back to what we were talking about like the trade and attention like you have to know what you're signing up for um I would love to be able to just hold you know an AI coin from 25 mil up to you know 400 but it's just uh it's it's hard yeah so just um I think as reference on pumped off fun yesterday they launched

45,000 tokens um and they're launching we need more yeah they're well they're launching the same amount I assume on base now um yeah and then give like whatever criteria like multiply by some form of Factor on the other chains as well I think the only chain that doesn't have that many token launches is hyper liquid and on um ethereum on hyper liquid because they have an auction mechanism that's expensive for tickers and on etherium because it's expensive um but it's a lot of tokens and they're just going to keep we need more FKS you said we need more I know we kind of need more but also like I kind of missed the missed the bear where there was like

four tokens a week and you could be late to them um because nobody was really trading them like take like eight hours for something to and now it's Grass Is Always greater isn't it we sit through a whole bear like waiting for this and then it gets here and the retail starts pumping xrp and not out coins yeah I mean the the dichotomy is like it's insanely frustrating that there's so many tokens but then you have like a token launch like hype and you're just like oh my God we need more token launches like you simultaneously always need more tokens but like less tokens at the same time we need more good tokens yeah all right that's a that's a good segue I think into probably the biggest news of the week which is the

hyper liquid token hype uh Hypes launch they launched it um I think ridiculously low they launched it at like two Bill FTV I think they launched that dollar two per token uh which would be two Bill FTV and I mean we talked about this a bit before but I think a lot of people were kind of surprised by how low it launched because we're kind of um used to these tokens launching at 8 10 20 bill um tokens that really have no business launching at those prices uh launching at PR and then hype Jeff thank you so much for deciding thank you Jeff thank you Jeff um thanks Jeff for lach yeah they launched that two bill it's ridiculous

um they gave essentially everybody a 5x not everybody not TLs but majority of people they gave a 5x um yeah do you guys think they did well um and then maybe let's do outlandish price targets for top of bull for hype as well yeah I I definitely think they did uh well yeah well let's start cover a bit of what what's happened I um yeah I definitely think they did amazing like I I can't fault them on pretty much anything they've done in the last six months um but especially this lot launch just like went off without a hitch uh no downtime no congestion even uh no delays like how often does that happen for like

a launch of this magnitude in crypto not very damn often um yeah the launching at 2 Bill thing was definitely a bit of a spanner in the works I think a lot of people myself included kind of expected it to instant candle to like you know something stupid like well not stupid but like six or seven maybe uh and then kind of you know classic air drop fractal um bottom out and then and then into up only so the fact that it launched so low and kind of just went up only immediately without that I think got a lot of people off guard um so yeah I know it called I off God yeah I mean it was uh it was pretty

incredible I mean we talking pre-show and I um over in in burgerland I mean the launch was at I think like 4:30 a.m. Thanksgiving night and I woke up the next morning and um I was like oh I gotta buy some hype um but yeah just pulling up the chart getting home pulling up the chart I'm like damn and what's interesting is you know like you said you launch that low and I know you know a bunch of good Traders you know people talk to often like if you didn't buy the initial say within the first hour another hour goes by and you're staring at the chart and you kind of have to make a decision like this thing is up you know 100% 125% the past like two hours it's a new launch like that's

a little bit of a difficult decision to make if you want to if you want to shove on that if you didn't get in the first you know half an hour to hour um so that's kind of how you end up with you know the price action that we've had is you know it launches at an undervalued valuation and then you have people that are like me that you know weren't necessarily ready for it or you know like I said the Thanksgiving thing too I think you know some people over in burgerland traveling and whatnot but you just you look at the valuation you're like that's probably too cheap but the charart is up only so you're presented with a difficult decision like you kind of just have to top blast and and pray a little bit but um the conditions were were right for it and I mean it just

goes to show that when you have you know a good product and everything is is liquid at launch like you know people are willing people and funds like there were definitely funds that have been tpping in and it shows yeah it's been nuts but I mean what it goes to shows like you know you launch it a fair valuation with a good product like the Market's going to it's going to reward you yeah just um sorry cuz just one um just to like reiterate what tolk said is I mean this coring Forex in a day and a half um and it gave no entries like Max pullback was maybe 10% throughout that time um so like a lot of people that I know were just staring at it saying when

the is this gonna do the air drop fractal so I can bid a little bit um yeah people were praying they were praying for 25% draw down yeah um go ahead sorry there you go I just wanted to also this is the reason I wanted to bring this up is because this also kind of happened with I think people forget like how well grass also launched like this launched for and then like up to no yeah not you but grass also I mean the these are like two launches that I think that relatively um two recent launches of decent

products um low valuation launch which just show goes to show that if you bully enough people about launching at two high ftvs teams realize that they shouldn't do that and they give you an actual opportunity to make some money as opposed to um what we had for some time ex Bing exit liquidity um yeah the grass comparison is funny I think it was YZ who dropped the the message like or maybe it was it was somebody else but just like the chart of what hype was and I was like oh that kind of reminds me this was in the first you know two hours and it kind of reminded me of grass grass had a little bit of you know the first maybe I want to say like two days more of like the

classic airdrop fractal to where you know it kind of went a little lower and chopped around for a while um but after that first you know day or two I mean you can look at I mean grass went from you know 75 cents to to $4 um so that's kind of what I mean that's why I thought I was top blasting hype at you know mid fours and I was just like look you just if you the product is good like the valuation is is not like what it necessarily should be like you kind of just have to you have to just rely on your intuition and just kind of just kind of top blast you know so yeah yeah those two launches I mean it just you know bring back bring back the good token launches

like I mean those two have been absolutely incredible yeah they've um they've set like quite the example haven't they especially like I actually don't know much about grass I don't know like the tokenomics and stuff but like you know the hyper liquid tokenomics are exceptional a lot of people hope 50 51% to points I think but like I I never kind of estimated that high I was like you know I'll be happy with anything over 20 and I think space off what Jeff has said they will do somewhere around that end up going 31% it's almost the entire FL I think the entire float's like 33% um yeah pretty insane shout out Jeff again thank you Jeff hey everyone we'd like to give a

special shout out to the sponsors of today's episode scale scale is built different unlike other layer ones scale is offering users a network of gas-free interoperable evml ones where user experience comes first scale operates like the AWS infrastructure model where developers pay for space in the network in skl tokens to validators essentially scale has chain fees and not gas fees this allows for free transactions on scale and has saved 46 million users over 9 billion in gas fees explore the gas free ecosystem at scale. Spacey and follow their Journey on X at scale Network visit the scale research Hub to learn more about the gas free architecture and growth of the ecosystem that's scale. space SL research chaos Labs the leading onchain risk management

firm recently launched its new flagship Oracle product Edge Edge delivers integrated High Precision risk and price data for any application with the market after 2 months of securing Jupiter Edge has already secured 30 billion in volume and more than 60% of all Salon of perss volume EDG is comprised of three components High Precision price data with an integrated risk engine automated delivery of real-time parameter adjustments on chain and secure delivery of custom data points via zero knowledge proofs follow and reach out to chaos Labs on X to learn more thanks again to chaos labs for sponsoring today's episode quick shout out to the sponsors of today's episode glyph glyph is file coin's foundational defi PR enabling file coin holders to earn rewards on their fill tokens by lending them to a diverse pool of filecoin miners similar

to lsts like Li Oro glyph solves a major capital inefficiency for filecoin glyph currently has over 19 million Phill deposited and over 150 million Phill in total volume and is backed by the filecoin foundation multicoin capital and more got Phil deposited with file coin's first and most popular D5 protocol by visiting g.o today thanks again to glyph for sponsoring today's episode I guess one question I have around hyper liquid is so on Solana we see way too many launches of tokens but on hyper liquid they have that auction mechanism and I think today's was like 60 65k or something for a ticker um so tickers are expensive on hyper I saw that this one the next one is like

140 Now isn't it yeah um do you think that's a problem or do you think that's good given that the current meta of like there's way too many tokens might make people appreciate that there's only a few of them now on hyper liquid I I definitely think it's a good thing it definitely gives a premium to the tokens that do launch there um the thing is once the evm launches you know there will be like anyone can deploy anything anyone can build anything they can be pump fun forks and whatnot but I do think that the actual spot tokens on the L1 as opposed to evm will hopefully hold a premium and potentially at some point start being reserved for like real like like like products open

launches you know like all the kind of like ecosystem product uh products that are being built on Hy liquid um yeah I think I think it's a great thing and while that's not the case and while it is just mostly like memes and stuff still like you know cat bile and pip and a couple others been doing really well um I think it just potentially raises the ceiling like where you know what's hype at the moment like a $3 billion roughly a$2 and a half billion Ed drop um to the community there's was it 350 mil sitting in spot and 13 bill in total or something like there's just so much money on there the token still going up eventually we see like it's like all the

all the memes and stuff already been pumping and doing quite well you know there's been multiples in a few days but I do think eventually we'll see like a proper weal effect um yeah so I think it raises the ceilings for for the good quality stuff on there yeah I I agree I mean I think it's a it's a good change of pace um there's you know a ton of money floating around the the hyper liquid ecosystem now um the one thing I will say like differentiated from you know the pump fund launches and the base launches virtual and spec launches in a way is like hyper liquid is still like that evm compatibility is is massive because it is still like you think about you know one of your like IRL but or somebody

you're on boarding like it it is still a little bit more hurdle to get to the hyper liquid ecosystem compared to you know just a phantom wallet and and buy a token um yeah so I think that that caps it a little bit in the short term if I had to say um but I mean that's that's a short-term thing you know um but moving forward like I think just that controlling that pace of of new tokens Can Be can be really really good for for the ecosystem at large but I think in the you know in the short term like I said that I don't want to say there's like high hurdles to get on hyper liquid but you know compared to like I said just downloading a phantom wallet like it's it's pretty pretty different I mean especially with you know if you want to

can't really access it in in the US um you have to take a flight for it but you know it's just uh there there's just a little bit more barriers there yeah um um go ahead KZ yeah know I was just going to say yeah I agree uh and then kind of getting back to like the the price Target stuff well just like for starters I kind of didn't 10 was like a pretty optimistic Target for a few uh for like a few days to like a few weeks for me um and then I kind of thought maybe we maybe we see like a broader cool off but not so sure that happens now because this infinite te up is like is mental every time I look there's like 15 to20 million of um buying pressure in

the next 24 hours it's beautiful yeah it's crazy like I I sat there on launch day just like making dashboards and like looking at flows like all day and like kept on posting in DOS like you know little updates and stuff and even after all that like it still has like well exceeded my expectations um so yeah not really sure where that goes now but like I think uh long-term like Bull on silly cycle price Target I could see it getting to like maybe like 70 or 80 bill um dude box like please I was gonna I was gonna say like 50 but yeah I would have

said 30 40 I take the over on I mean that's only a three I mean I don't want say a 3X but I mean mid me xrp added like 75 billion in market cap in like the past like 36 hours like yeah i' say like where already in it there's obviously like broad differences between you know the structure of why xrp can add that and you know hyper liquid but like I don't know it's the same thing like I mean going back to the grass launch like I still hold a bunch of grass so I'm just closing eyes like they're good products that like launched like in an awesome way and there's clear demand and like

product Market fit like these things there's just still up and down like the top 50 tokens like there's just a ton of vaporware like I don't know like if you think that you know BTC goes to 150 200 plus like stuff I don't know man stuff gets gets real silly get exactly but like when I when I do say that it's more rooted in like the like hype is kind of the Sal of next cycle you know that that whole thing yeah like the a lot to prove and I think there'll be volatility especially around the evm launch because I think right now it's got a premium for the evm but the evm has a lot to prove you

know yes there's people building on it and stuff and products kind of like in the works but um it doesn't mean it's going to be bootstrapped day one like I think I think that'll be a bit of a a short-term hurdle not actually sure when that is happening though I think I've been hearing January but I mean like Su like sui is trading at 36 billion fdv right now like and sui's probably gonna I don't know 2x at least probably by the top I'd say like around there like stuff can get and granted like you know that 50 billion plus like maybe that's only for a week or two and like yeah that's really hard you know to sell yeah in like you know in the

Euphoria like it's really hard to to sell that top but I mean if that means you know 50 60 plus like okay then that's like to blow off and then you know settle around like 35 40 for a little while and I mean that's still really good upside for where it's at right now um but yeah I mean I I had the hype air drop and then bought a a good chunk like I said at like 4:5 that morning because I I got home late but I don't plan on I mean I just I'm comfortable just holding it and seeing where it's at in you know three to six months I do want to say 30 maybe a bit low I um one of my biggest I think this is a lot of people's issues but for me

is I forgot how to believe in the bear yeah believe in something dog sorry Dream a Little believe in something Dream a Little yeah I should the thing is that every time I believe in something it's like this is one of the things I've realized whenever I start believing in stuff and I'm like yeah this is going to it's a top and it's the top it's the local every time I get really really um my thing is I started selling chunks when I start listening to drip too hard by little baby on repeat and I'm like I'm selling 20% of smart smart man's gotta have his rules yeah one um I guess

last thing on hyper liquid is uh tokens on hyper liquid apart from hyper liquid so the spot markets I know we mentioned pip and catball I I am in uh this is not Financial advice to my listeners but I like H fun and I know pers the big one um what else do you guys think is like it's Yes Meme coins right now um yeah pretty much yeah yeah I think like cat ball and pip are the two like obvious ones that have been performing really well um don't say that I don't have any bags right now no like I'm I don't actually have many bags either I have some stuff that I've

been holding for like Ages which has is starting to do well now um I think I like I like 8 hun just purely because as the price goes up the whole thesis for that becomes more true like the whole thing about 800 is that $800 per Point meme um which I think we're at like what are we in now like $50 a point or something $45 a point um but other than other than that in cat and pip kind of the only stuff that I've been looking at yeah those are good um it's just uh perr mainly perr and uh I bought oh well was it was the uh I'm looking at the chart now it's pretty much the top at at this point but I bought some skizo too um

just because it's like the only kind of you know AI bot on yeah hyper liquid and I mean the ticker is is good enough I think but yeah I mean pers is fun like again like once I think these things can can be volatile and in the short term um because of you know the the hurdles we were talking about but like once you get evm compatibility and um the access is a lot better like there's going to be tokens on here that just go to ridiculous levels just because you know that's what happens on a new chain like and that's an easy thing to like say like I have high confidence in that but you know picking which one it is obviously a lot more difficult um but I think time yeah yeah like to choose from

no that's a good point yeah and I mean going back to how they limit like the the new tickers like I mean it can put a cap on the dilution to the ecosystem which is always always a good thing um yeah especially like we were talking about earlier like we're in we're in the age of crypto where there's literally endless tickers every day you know I mean tens of thousands of tokens lost single day just on pump Fon too like that doesn't include the base ecosystem um just just on on that as well I got two more things to say about hyper liquid but this one intertwines with that I think something to look forward to and this hasn't been stated by the team anywhere but like it stands to reason when a team deploys a token that eventually the pairs are probably not

going to be uscc pairs anymore or they'll have both you know they'll be they'll be hype token pairs as opposed to just USC pairs um which I think could be a great Catalyst for the for the spot ecosystem um yeah I'm I'm excited um for PVP trade which I don't know if you guys have checked that but if you haven't it's a great way to lose money on telegram wait are they launching a token oh I hope so it's actually like it's probably one of the few few telegram trading Bots that I've used that I'm really really happy with you gotta make your money back through a token yeah uh I don't know if I can um but we'll

see um for hyper liquid valuation we kind of talked about we one of you guys touched on it I'm sorry I missed out um but uh we said SOI is at 30 Bill and we're assuming that that 2x is so hyper might also um whatever like 10x one thing I will say is was genuinely exed well um wow uh what I was going to say is hype um hyper liquid actually has a really really good product versus what we see on some of these chains like Avalanche is sitting at I think 20 bill um yeah

it's been ripping recently yeah when was the last time either of you guys did anything on Avalanche like the last thing I did on avalan 2022 yeah I did 2023 they had a meme coin thing like a mem coin oh dude this is like I always forget to not do these things and then I always do it I'm like oh wow I can Bond crazy I'm gonna do it yeah but like that's kind of my thought processes if these things are 20 30 build and there's nothing to do on the Chain like SOI apos and these are good chains best chains in the world so is going up constantly but um I think you

know you can give hyper liquid a bit so maybe I should adjust my $30 Target to like 50 60 um yeah I think 50 is a good a good a good mid Target if you if you think bitcoin's going another like yeah like like TK said like I think 50 is a better midterm Target 80 would be like 80 yeah I mean I will be I will be on the sidelines when it hits 80 I'll tell you that much um but yeah I mean you also like it's just the you know the float thing and like everything liquid like you know like there's no unlock no unlock a lot this is the for a while and another thing is hype is also deflationary like it's not it's not by much but like spot tokens on hyper

liquid are by Nature deflationary because fees are taken in the token and then burnt immediately um so I think I don't know how much has been burnt so far like it's not meaningful but like you know it's only been a few days I think maybe like half a mill or something of the token has been burnt um so yeah it's something and just the other the other thing I wanted to say is just um I don't know if you guys saw but the team actually bought $39 Million worth of the token at around a 440 average did you see that yeah they're up 40 mil yeah they got the same size in as me at the same price D you look at that no actually yeah I mean it's it's

just another like we were talking about like you know shadow jaff like obviously that's like a little bit of Mee but like at the same time like buying tokens on the open market like you know it it's just everything is like the alignment is just it's it's beautiful you know like it is beauti they're there to support support their in token like support the ecosystem support the people that use it like it's just yeah Immaculate Conception yeah all right enough hyper liquid um circle jerking because I'm just getting more and more bullish and I need to eventually sell um let's do another airdrop potentially coming up um magic Eden I don't they did a test token I did not follow on it at

all to be honest with you guys um but I do want to say a few things first of all nfts are kind of pumping um and I think that just means they're not going down anymore so they're like slightly going up um puggies and maladies are actually up quite a bit I don't know about madlads I don't really like them um Sal the don't really interest me that much but um magic eating could be a big one I don't know like I had the opportunity to talk to the founder Zed on the Pod and he seems like they fully shifted into BTC they built out a lot of custom infra on that side as well because Bitcoin isn't like if you're where this works you need to like actually do stuff um they captured that market really really

well like that's they're very dominant there I don't know like a lot of people have strong opinions on bitcoin runes ordinals um no matter what you think fees are really high and they make money and there is volume some for some reason it must be insanely proper like they have been like the place to trade ordinals and runes and yeah it's kind of it's been going for like how long now like a long time especially with orinal that's so good but yeah the volumes like at at at the point of mania like back in March were like just Insanity they must be cleaning up on fees um I have some figures over here from NFD pulse it says 300,000 in Revenue um for magic

Eden over the past seven days just from Bitcoin um and like a month which is pretty crazy um and that's just from Bitcoin and this assumes that like this is that I don't think they're that popular right now like runes no they don't yeah we'll see if they come back um actually and then there's also the openc potential token launch as well oh yeah what do you guys think are you interested in buying and selling um NFP tokens or do you think you'd rather just buy more mad Lads or something heyy I'd be interested inen token I think my air drop's probably going to be peanuts but um I and I haven't looked at the

tokenomics or anything I'm not even sure if they're out but like I think especially considering conditions and it's kind of like the biggest token launch since hyper liquid um that could definitely be a trade trade there yeah I would I would agree with that I mean I'm definitely interested in the launch like it depends on you know I think they said uh tokenomics come out tomorrow I think and then launches uh would be next Tuesday I believe the 10th um but yeah I mean magic Eden like you know they make good Revenue like you were showing like I would assume that um the volume for runes and oral like only pretty much only goes up from here as you know things get a little more

silly um but yeah I mean they have they have a great product and they have you know a dominant market share of of runes and ordinals and then everything else that they have as well so I'm definitely interested in it um the timing is great with nfts like at large really making a comeback the past week or two so you know you can price some of that into there um but yeah it should be it should be fun yeah it should be do you guys trade this GNA be kind of a silly question but like I've been doing these um price charts for nfts and they kind of look insane um and I know this is like a stupid thing to say because a lot of the time you're why the would you put like my ladies on a price chart

but I'm gonna show this and you're gonna see like you're gonna see exactly that looks insane no the reason you do it is because you know other people do it and that's all that matters this is the Mady chart um which looks insane right like this look yeah yeah and TOS showed me the mad last chart but I can't see it but I guess what I wanted to say is meme coins are in um slightly out now but do you think for CT for months said we're never getting an nft season again we're never getting an nft season again um and people that I actually care about opinion like Moon um

was like we're definitely getting nfts again what do you guys think are we getting them back are we going to have like nft Mania or should I give up I don't I don't know if we we've talked about this a lot and like it's I've it's been like a closely held belief of mine that um late cycle yes we do like it's it's a kind of you know and this is not like a new thesis or anything lots of people think this but like you know nfts are something that you buy late stage when there's just tons of money flowing everywhere and like you want to flex you know a 500K jpeg um so like super late cycle potentially even like after Bitcoin has topped um kind of like we

had you know first half of 2022 was it I I can't remember my time my timeline is very off but um yeah like a similar thing to that that's kind of what I think is going to happen like yeah stuff will probably go up in the meantime as well but I don't think we get like full-blown nft season until until that kind of stage in the cycle yeah I mean I think that's generally my thoughts too um along with the the meme coin super cycle thesis like I remember when we recorded that pod I think it was again like six months ago like we talking about our nfts ever going to come back and it's the thing people like talk about and I said you know at the time like I'm comfortable missing the first you know 30 40 50% off the bottom like to have that

confirmation and maybe we're at that point but like my interest is still just I don't know I mean it I think if you if you have stuff like obviously you keep holding it like I'm pretty comfortable and like M ladies and madlads and um I mean pudgy has been going up punks are back to 40 plus like fidenza hit 60 this morning um pretty comfortable and and you know those things going higher but to me like there's just far too many liquid opportunities nowadays to have like serious Capital tied up in there um um so that's kind of just generally how I think about it like it's more of the it's not that I don't think they'll do well and like continue to go up it's

just more like the relative IL liquidity and the opportunity cost of you know the liquid markets across soul and hype and Hyper liquid ecosystem now and base and I mean there's still really not much going on in eth main chain but like I think at some point that'll be back too so I just I prefer those opportunities over nfts um so that's kind of how I'm thinking about it that's fair I um I agree with you guys I think it's going to take some time still I do like um I like holding nfts more than I like holding meme coins and I think it's because there's less noise and maybe like I guess last time we talked was a

few months ago and a lot has happened um market dynamics have shifted multiple times significantly like what ecosystems popular what Tok style is popular um any either of you guys have any I guess like things that you've decided to tell yourselves to keep uh noise to a minimum to make sure that you're doing like the best that you can do um like what's your like takeaways over the past let's say because it it it changed a lot over the past three months anything that you guys were like I was dead wrong about this back in the day that's a good question I mean I think going back to what we were talking about earlier about just the attention rotation how quickly it happens like

that's something that I try and constantly have in the back of my mind like no matter how much I like a you know a soul coin or a base coin like sub you know 20 50 even like 100 million like no matter how confident I am in it I try and always just say like attention can easily rotate um in in an interesting way like I mean grass and hype are two of the the new coins but like those are two that I kind of take profits into um grass have been since launch and hype I will continue to do over you know the next couple weeks and months just because I I want to realize that the attention like I said on you know the

constant new launches the constant new coins like that's always going to be there and I think finding um the assets that you are pretty comfortable like you know 3 to 5x plus like just taking profits into those um so whether that's you know it was soul for me for a while and now it's um I mean I still have plenty of soul and confident that higher and I mean eth a little bit too but that's kind of one of the things that as the cycle goes a little longer like I've thought about more is finding those you know the base assets that in a way like the nfts you said Bach that like you have to worry about less like yeah there'll be noise and you know the short term but they're not going to swing you know 25 30 40 50% like in maybe get their attention pulled

from somewhere else for like the remainder of the cycle like I'm pretty confident that grass and hype have like you know good product Market fit good differentiation between everything else in the market and um like they'll be there so that's kind of you know as the cycle goes on like one of the main things I'm trying to tell myself every day is just you know find those assets that you know you believe three to to 5x plus and take your profits from the attention game into those and just sleep a little a little more comfortably yeah I think that's a really good point what about you yeah yeah I I'm pretty pretty similar to that I'd say um just in general trying to be in stuff that's a

little bit less volatile with with more of my port as as the cycle goes on anyway like I'm primarily salana and hype at the moment with like maybe 15 to 20% in like more risky kind of volatile stuff um so yeah I think that's good good sentiment Tes yeah I mean it's just something and it's hard like I mean there's still going to be volatility but like you know you don't get the you know three to five to 6 s 8X like without a little volatility like that's the reason that we play the game but I just you know as like I said as a cycle goes on like I want to sleep with you know less bags that or more high confidence than like I was talking about at the

beginning like oh I have like 25 coins on and I'm just going to bed like like that the amount that they add up to like oh yeah that could just be down like 45% overnight like that's it's kind of a uh an uncomfortable thing and I mean again like it's why we play the game like the volatility creates opportunity but um I think just as like I said as the months go on just finding those things that you're confident in having like as core assets and just you know spilling profits into those and and um just being a little more risk averse yeah on like the you know the extreme edges yeah completely agree go ahead k no no I uh I was just going to yeah I

suppose the other other side of that for me is just really striking while the iron is hot like prior to uh prior to the AI meta um shitcoin was like the shitcoin landscape was very different and it was mostly like trying to rehash like animals and Elon tweets and and um felt like the end of something then you know so like kind of taking it taking it easy and then once the AI made a hit um I felt like that was quite an obvious one so just waiting for like the obvious attention Cycles to come around like at the moment I'm kind of kind of chilling not really doing much holding a few bags waiting for the next thing to happen I completely agree with that I um I think one thing that has really really

um that I've really really been thinking about is that what you said talks is like sleep I sleep so much better if I don't have just like dog um yeah and also that stuff like goes to zero or it goes 89 like it doesn't matter how many Twitter followers it has or like if x from like Twitter is in it or like X from like your telegram chats in it that goes to zero yeah it doesn't matter yeah there's like anything sub even the big coins that you think just make sense they legitimately go to zero so that's one thing that I've been like kind of trying to focus more and more on um writing down like why I'm in something and if it's like if I can't do two

sentences then I'm like you know what maybe don't maybe um put some money in it but because at the end of the day you also want to take risks like right maybe not right now because well what I most means like maybe it doesn't feel great right now because we're having slight of pullback everywhere um yeah exactly and we're at like B BTC like 100k resistance like knocking on that it just every and like Dino coins pumping like everything feels a little more tired you know and just in general the asymmet asymmetric opportunities are like few and far between compared to like early November or whenever the AI started popping off yeah yeah I mean one thing I will say

too is like on that I mean I still have plenty of capital set aside for like that highest stuff like that's still you know the highest reward you get but you need to kind of like figure out what like sector of the high risk which is kind of a funny thing to say out loud um but like the AI stuff like what you're talking about like highly confident there's going to be you know a second and third wave and like some of this stuff is here to stay so like I want to preserve chips for taking early bets on the next early AI stuff you know like is it worth playing you know the next51 million like animal coin like probably not like the market is very clearly like exhausted of that stuff so I think you just you preserve that high

risk capital for the stuff that is like a blend between some type of AI product and Meme and play those and other than that like you know like I said just kind of compound into the stuff that you think you know three to five X's or more and you know you like you said baky sleep a lot more comfortably like that yeah yeah completely agreed um and also the other thing is if you are losing money on because you're down whatever there's a market pullback The Meta change then nobody cares about your little tokens anymore then it gets in your head because you're like oh like I'm making bad choices I shouldn't buy this one and then you're kind of clouded in your judgment it's a tough thing to

do I um a lot of these tweets back in 2022 2021 2022 wow 2021 2022 um of people who have been in the cycles for a lot longer than I have about how trading is mostly psychological um and I think like those'll start hitting more and more true every time I like think about it a bit more yeah no absolutely like hot streaks and cold streaks are so real in training those what like having hot streaks and then cold streaks you know like you had a couple wins and like your confidence is up you feel like

you're just thinking a bit more clearly and obviously trying not to get overconfident and then like inversely same same kind of thing happens when you're in a cold streak and you like been losing losing a bunch of Trades yeah I mean the other thing I would say is like you just you can't be you can't be biased in like ecosystem like the the past two weeks is a pretty prime example like you had virtual going insane like spec went a little insane and then hype and then Dino coins like if you were in anything else like and you had you know bias to and I have plenty of you know Soul like lower cap stuff that is down a lot the past like two weeks because I was like oh like you

know attention won't rotate away from here like you just have to always kind of keep an open mind non-bias and and I mean pay attention I guess but like you just have to be aware that you know the thing with the endless coins is there's you know four five six ecosystems now that like things can go insane in for you know a week or two at a time and if you're in the wrong stuff like I know it's you know easy to sit here and say but like you just have to kind of kind of be aware of it like like I said the past two weeks are kind of a prime example like if you weren't in what virtual and I'm trying to think what else did well I mean obviously the hype launch but outside of that like what has really gone on the past two weeks other

than xrp going 30X you know yeah yeah it's just been it's been tough I agree with you and I I'm also kind of happy this happened to be honest with you I was getting a lot of I was seeing a lot on Twitter about like how salana is guaranteed to go to x and it's doing like it's the ultimate ecosystem now and um I want I want people to realize that it's not so that I can so that it like I think it's going to do really really well but I'm always a bit cautious when people are constantly paring the same narrative um even though I probably shouldn't be uh I think like hype was the first time I realized like this is consensus but it's still going like insane

everyone's like oh hype's fantastic hype's fantastic and it still hits a fre X um in a day but yeah I'm kind of happy that people realize that it's not Solana like Solana isn't the end all um because hopefully that will bring back fresh blood um and juice to the ecosystem uh and I mean it's good for it's good for bread of the entire crypto space too you know like you don't want One S just continuously you know dominating like the the outperformance for however long it did like it it's healthy to take like a break like and I know we live in you know like the attention economy and non-stop like you know tweets and worries and there's always prices moving and whatnot but

like you know so one up like you know 10 15 x in a year like it's gonna be okay but like you know like it's just it's not going to go up in a straight line for forever like it's just it's not the way things work um but yeah I mean it's just uh just staying in tune to things and you know keeping open eyes I'm looking right now I was wondering why MOG is up 40% in the past hour got added to coinbase too yeah after moodang after moodang yesterday MOG today so nice that's pretty cool to see I mean I think yeah we didn't touch much on um the base stuff in general but like them listing more coins is should like

there's some base level of um I want to say like a base level of price on some base stuff just because you have the likely potential of eventual coinbase listings like I'm trying to I mean we've had this I think this is another thing we talked about like six months ago like you know and maybe even a year or plus ago like being excited for the Basse ecosystem because the coinbase distribution and potential listings and like that is kind of unparalleled access and I think we're starting to see that like they haven't really listed you know lower cap or midcap based stuff like I think they'll eventually La uh list virtual but I do think it kind of puts a floor a little

bit on that ecosystem in general just because like that you know that fear of what if what if they list you know your coin that's at you know 100 million or 50 million like you know what I mean like there's some psychological effect there to coinbase starting to list more that I think will boost the base ecosystem overall I hope that Mak sense yeah no it does make sense and like it takes me back to a conversation that we had about the same thing when binance listed act and peanut it put the fear of God in defitely for like a while yeah that one thing I like Bas has been kind

of slow about listing a lot of these things like I feel like if this was if it was BMB and you had virtuals on BMB like CZ would personally list that um versus I feel like Bas coinbase has been kind of slow with list and they've listed peanut and um Maus Fair they've listed peanut yeah I'm a bit surprised that they haven't listed um um virtuals especially since there's some tech behind it like it's not just pure dog um but we'll see I think they will yeah I think they will figure it out um I I think I think that's good is there anything else we want to chat

about um no no I mean I think we're yeah we're at an interest interesting point in the market like I said the past two weeks like you know the the winners have been a little few and far between like those winners have been gone on insane runs um but yeah it's just you know you just stay paying attention to everything because you know there's there's a there's rotations and you know there's a broad ecosystem out there which is is awesome to see in a way you know like I know we joke about being tired of all the new coins and stuff but it's uh it presents a lot of awesome opportunities so I would just say you know stay open to to all possibilities and you know try

and have as many eyes everywhere as possible um we're kind of you know it's a it's the Golden Age of coins that's for sure so that's definitely true um that's one thing that I need to reiterate and agree fully with you on tols is it's the Golden Age of crypto um it's the Golden Bull Run please do not SK embrace it yeah yeah I mean it should be yeah a a really really fun three to to 6 months plus maybe longer we'll see but I mean it should be it should be a blast so um just you know try to appreciate it every day and I know it can be a little exhausting and and tiresome but you know

this is this is what we do it for so hell yeah all right uh guys thanks for coming on this was fun yeah no worries thanks having this B yeah always a pleasure cheers everyone thanks again to scale for sponsoring today's episode if you weren't already planning to make sure to go check out scale's ecosystem explore the gasf free ecosystem at scale.on X at scale Network and visit the scale research Hub to learn more about the gas-free architecture and growth of the ecosystem that's scale. space resarch [Music]