Latest / CRYPTO 101 / Crypto Rundown: Saylor Sells & Bitcoin Went Up?! Has MAX FEAR Been Reached?!

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Crypto Rundown: Saylor Sells & Bitcoin Went Up?! Has MAX FEAR Been Reached?! · CRYPTO 101

0:08
[SPEAKER_00]: All right, everybody.
0:08
[SPEAKER_00]: Welcome back to the crypto rundown guys as Max fear reached for Bitcoin the noise and the news has been overwhelming down to the negative side But the price action isn't reacting how most people might think so we have to ask ourselves
0:22
[SPEAKER_00]: Number one, what is going on?
0:24
[SPEAKER_00]: We're gonna tell you, sailor, selling, Tom Lee's buying, and is the war back on this fleet's flip-fopping back and forth.
0:30
[SPEAKER_00]: And we wanna take that news and see what's going on in the charts.
0:34
[SPEAKER_00]: That's why we have Brendan here today.
0:35
[SPEAKER_00]: He's gonna break it all down the forest on the technical side along with all of the news.
0:39
[SPEAKER_00]: Brendan, welcome back to the show.
0:41
[SPEAKER_00]: We really do have a lot to cover.
0:42
[SPEAKER_00]: Maybe not as many topics, number wise, but there's a lot going on this weekend that we wanna break down and then see how the results are on the charts.
0:51
[SPEAKER_01]: Yeah, always a pleasure to be back here, Tevo.
0:54
[SPEAKER_01]: You know, we always have fun with these things, especially on a day like today.
0:58
[SPEAKER_01]: There's a lot going on, right?
1:00
[SPEAKER_01]: And I think there's a lot of important pieces of data for the average listener to really understand, because we've had this kind of extended rally on Bitcoin.
1:10
[SPEAKER_01]: Bitcoin saw six straight days of green, meaning that for six straight days in a row from last Wednesday up until this Monday, it closed higher every single day, putting in six green candles in a row.
1:24
[SPEAKER_01]: We're coming back down here a little bit, but definitely a lot to talk about.
1:28
[SPEAKER_01]: I mean, you name it Robin Hood, Michael Sailor, Tom Lee, geopolitical stuff.
1:33
[SPEAKER_01]: There's a lot of different kind of moving pieces and factors to watch out here for the crypto market.
1:40
[SPEAKER_00]: The first general one we'll say is that this Iran US conflict seems to be kicking up again as we've said on the show a lot over the last months now it's like hey that's a situation that seems pretty fluid politics aside that's not our department we will say the markets are completely seeing through at this point.
1:58
[SPEAKER_00]: Yeah, you'll see some day-to-day ups and downs on that specifically with the oil spike and maybe the 10 year and things are reacting, but again, this has been such a back and forth saga that it's hard to do other anything else in our shoes other than just look at the markets.
2:12
[SPEAKER_00]: So that's what you're going to have to do for that.
2:14
[SPEAKER_00]: We'll break you down with what we're seeing today on the price action, but what I want to start with Brendan is Michael Sailor selling and again, the first time that he sold, it was just showing people like, hey, we are willing to sell.
2:28
[SPEAKER_00]: I don't know, I'm not going to qualify this as a small amount anymore.
2:30
[SPEAKER_00]: This is a sizable portion, $3,588 Bitcoin for $216 million to fund the dividends for the digital credit securities.
2:43
[SPEAKER_00]: Your thoughts just take it away.
2:45
[SPEAKER_01]: You know, what have I said about this, right?
2:48
[SPEAKER_01]: What have I said about him going the need to be selling more to fund the dividend because they're either unable or they're not willing to use the money that the company is making to pay this thing.
3:00
[SPEAKER_01]: Listen, I, again, I'm a big fan of Michael Sailer.
3:03
[SPEAKER_01]: I think he's straight from the mission a little bit here.
3:05
[SPEAKER_01]: I've been a critic of the whole dividend thing that they're putting on.
3:09
[SPEAKER_01]: Um, but this is something that we talked about for like at least a month or so on the rundown.
3:13
[SPEAKER_01]: Maybe two months now We've been talking about this exact scenario.
3:18
[SPEAKER_01]: He came out the first time said, oh, we're just selling a little bit His whole thing was always never sell never sell never sell.
3:23
[SPEAKER_01]: You'll never have to sell now He's coming out and saying, oh, well, we're just gonna sell a little bit to improve our credit in this and that It's like okay.
3:30
[SPEAKER_01]: Well, that's fine.
3:31
[SPEAKER_01]: It's kind of understandable now He comes out again and he sells almost a quarter of a billion dollars worth
3:37
[SPEAKER_01]: of Bitcoin.
3:38
[SPEAKER_01]: And I was looking at the numbers.
3:41
[SPEAKER_01]: If you look at how much he's bought versus sold over the last month or so, he's at a net loss.
3:48
[SPEAKER_01]: He did two different selling events.
3:50
[SPEAKER_01]: I think it was June 8th and June 15th to the 21st where he bought, excuse me.
3:56
[SPEAKER_01]: He bought around 2007, he bit coin, someone June 8th, sum on June 15th to the 21st, and then he sold around 3,588 bit coin from June 29th to 30th, and then from July 1st to 5th.
4:13
[SPEAKER_01]: his net loss here at least what i'm seeing from the last month is minus one thousand five hundred and eight bit coin uh... which is worth around seventy five million dollars so when you factor out all of what he's bought and what he's sold the net number here is a net loss
4:31
[SPEAKER_01]: So he can say he's buying, he can say he's doing all these things.
4:34
[SPEAKER_01]: The last month of data says, dude, you're coming out here at a net loss in terms of Bitcoin.
4:39
[SPEAKER_01]: And that just feels contradictory to what he's always been saying, right?
4:43
[SPEAKER_01]: He's always in the other thing that I've been getting frustrated with.
4:46
[SPEAKER_01]: So excuse me, everyone, I'm going to go on a little bit of a rant here.
4:49
[SPEAKER_01]: I'm going to get fired up about this because he's always posting.
4:53
[SPEAKER_01]: Looks like a good time to add more orange dots.
4:55
[SPEAKER_01]: We're going to add more orange dots.
4:57
[SPEAKER_01]: The orange dots make this chart better.
4:59
[SPEAKER_01]: This and that, and like I always see posts about it, and it's like, okay, we're saying all this stuff, but what's actually happening behind the scenes?
5:06
[SPEAKER_01]: Behind the scenes, it's net loss.
5:08
[SPEAKER_01]: It's a net loss of Bitcoin over the last month.
5:11
[SPEAKER_01]: You're telling me that Bitcoin is at cycle lows, the lowest point that we've seen in years, and you're selling more than you're buying, and it just does not make any sense to me.
5:20
[SPEAKER_01]: I mean, I guess I'm straw-manning this a little bit.
5:23
[SPEAKER_01]: So bear with me, T-Vo.
5:24
[SPEAKER_01]: But I get fired up because like, we're a big crit, though, advocates.
5:28
[SPEAKER_01]: We believe that Bitcoin will go higher.
5:30
[SPEAKER_01]: What does that mean?
5:31
[SPEAKER_01]: Well, we believe that when it hits cycle lows and multi-year lows, it's a long-term buying opportunity.
5:37
[SPEAKER_01]: That's what we think on the show.
5:39
[SPEAKER_01]: And so that's what we say.
5:40
[SPEAKER_01]: We put our money behind our mouth.
5:41
[SPEAKER_01]: You know, I've talked about myself buying down here.
5:44
[SPEAKER_01]: I've even talked about picking up leaps positions.
5:47
[SPEAKER_01]: I'm very bullish on the long term of Bitcoin at these prices.
5:50
[SPEAKER_01]: I just wish and I hope that my actions are reflective of that.
5:54
[SPEAKER_01]: But it fires me up when you see someone who's been such a big bull and such a big leader in the space and his actions lately just haven't been reflective of what maybe he's saying or what's going on or the long term vision and that is a little bit frustrating.
6:10
[SPEAKER_01]: So I think that people are looking at this.
6:13
[SPEAKER_01]: And again, I'm strong ending in a little bit here, and I understand there are reasons to sell.
6:17
[SPEAKER_01]: You know, he's got to fund the dividend, he's got to improve his credit, it's a business at the end of the day, and this and that.
6:23
[SPEAKER_01]: But I just don't think it looks good.
6:26
[SPEAKER_01]: And I think it is frustrating from a lot of the people who have been by side and listening to him for the past couple of years.
6:33
[SPEAKER_01]: So,
6:34
[SPEAKER_01]: You know, there's two kinds of people here, Tvo.
6:36
[SPEAKER_01]: This is what kind of goes back to the original point.
6:39
[SPEAKER_01]: There's two kinds of people.
6:40
[SPEAKER_01]: At this point in the market when you're hitting lows and everything's at extraordinary value relative to where it's been over the past couple of years, there are buyers and there are sellers.
6:50
[SPEAKER_01]: There are people who are selling more than they're buying, and there's people who are buying more than they may be selling.
6:54
[SPEAKER_01]: Michael Caleau here.
6:56
[SPEAKER_01]: Believe it or not.
6:57
[SPEAKER_01]: I don't think any of us would have believed this a year or two years ago if you'd have said he's selling more than he's buying down here But that's just where he's at.
7:05
[SPEAKER_01]: You know who's not doing that Tvo?
7:07
[SPEAKER_01]: Good old friend of the podcast Mr. Tom Lee has bought I believe twice this week
7:14
[SPEAKER_01]: adding to his bags and you don't see selling headlines from over here.
7:17
[SPEAKER_01]: So I don't want to glaze them up too much and put them on too high of a pedestal, but you know, listen, he's not buying.
7:24
[SPEAKER_01]: He's kind of doing exactly what I said.
7:26
[SPEAKER_01]: He's seeing eat that cycle lows.
7:28
[SPEAKER_01]: He's seeing what's happening and he's saying, hey, instead of offloading the bag to fund this or that or whatever it may be, we believe that the best thing you can do at low prices is buy this thing.
7:39
[SPEAKER_01]: And so that's what we're really looking at.
7:41
[SPEAKER_01]: It's Tom Lee from BitMind buys $42,197 ETH worth roughly $73 million.
7:48
[SPEAKER_01]: And then guess what?
7:49
[SPEAKER_01]: He bought a can.
7:50
[SPEAKER_01]: It's just a couple of days later for, yeah, another $40,000 Ethereum for roughly $71 million or $71.6 million.
8:01
[SPEAKER_01]: And he's getting this from Falcon X and Kraken.
8:04
[SPEAKER_01]: So our guy is doubling down and this is what we want to see, right?
8:09
[SPEAKER_01]: We want to see the big money investors, the large ones, the figure heads that are super popular, in crypto, in track of these big kind of public figures that we look up to, we want to see them loading the boat towards heavily discounted prices, right?
8:25
[SPEAKER_01]: Bitcoin down 50% Ethereum down maybe 60 plus percent, salon it down 60 to 70% you want to see people that are confident buying down here because if you're not, I think that the whole public will look at it and say, well, you know, if they're not, maybe I shouldn't be.
8:39
[SPEAKER_01]: If they're selling more than they're owning, maybe that's what I should do, right?
8:43
[SPEAKER_01]: That's what they're going to look at.
8:44
[SPEAKER_01]: So you have two different kinds of approaches to this.
8:47
[SPEAKER_01]: Obviously, BitMine is an Ethereum treasury.
8:50
[SPEAKER_01]: Strategy is a Bitcoin treasury.
8:52
[SPEAKER_01]: Tom Lee, net buys here, sailor, net sells.
8:56
[SPEAKER_01]: So, you know, listen, I understand it's a little bit ranting, but I think that what we want here is we want what's best for crypto, right?
9:05
[SPEAKER_01]: We believe in this long term, we want what's best.
9:08
[SPEAKER_01]: And, you know, we speak about it, and maybe we poke a little bit here, but that's just because we're passionate about it.
9:14
[SPEAKER_01]: And we want to see what's maybe best for the overall space, not for what's best for some dividend thing for some company.
9:22
[SPEAKER_01]: We want to see what's best for a Bitcoin itself.
9:25
[SPEAKER_01]: We want to see what's best for a theory itself.
9:29
[SPEAKER_01]: And again, strawmaning it a little bit here for the sake of time because you could go down the avenues and say, oh, well, you know, STRC is good because then they're going to go do different things and then that'll allow them to buy more Bitcoin down the road and this and that, and it's like, yeah, you know, maybe, but that's just not quite what we're seeing so far, but you know, that could obviously change, but Teva all handed off back to you here.
9:50
[SPEAKER_00]: It's a great ramp and get the charts up ready for us because I'd generally like to see how it is affected the market, but I think the summary is, hey, the strategy of 2020 microstrategy of 20, 20 to 21, 22, 23, 24 has changed, right?
10:04
[SPEAKER_00]: It was, you know, the clips, they're infamous and then the press hits and the podcast never sell your Bitcoin and then it's evolved and that's okay, things kind of all, I think you can make the case that it was kind of an interesting pivot.
10:20
[SPEAKER_00]: And in a way, in my opinion, I think there's other, you know, you're allowed to have your own opinion.
10:23
[SPEAKER_00]: And it's just, it's a new era for micro strategy.
10:26
[SPEAKER_00]: You got to just do your research and understand that the facts have changed.
10:30
[SPEAKER_00]: And there's, you know, again, you can kind of see what Tom Lee's doing.
10:33
[SPEAKER_00]: And maybe his strategy is going to change someday.
10:35
[SPEAKER_00]: But he's focused on clearly acquiring Ethereum and using the dividend to
10:40
[SPEAKER_00]: to do, whether it's acquiring more or paying, they want to do a stretch, but I think there's a plan in place where as they have a plan of their strategic vision for the future, whereas it feels like the strategic vision for the future of micro strategy has changed, and that's totally okay.
10:55
[SPEAKER_00]: You're communicating in, you're showcasing it, and you're seeing the results of it, so then you got to be like, okay, well,
11:00
[SPEAKER_00]: So I want to be a stretch holder when it's not a part, but I want to own microstrategy stock.
11:04
[SPEAKER_00]: Do I believe in the teachings of never sell your Bitcoin from somebody that's actually building products that has to sell Bitcoin and have this washer and dryer of capital to pay these dividends?
11:16
[SPEAKER_00]: It's been a fun saga.
11:17
[SPEAKER_00]: And again, we want the overall crypto
11:21
[SPEAKER_00]: market to just do good.
11:22
[SPEAKER_00]: So, you know, being creative is one thing causing a mass panics another, and I don't think we've gotten there yet, but, you know, if this, you know, there's definitely some risks, right, at building out all these different products, which, you know, I think you can kind of see in, in a worst case scenario could cause some harm.
11:42
[SPEAKER_00]: So,
11:42
[SPEAKER_00]: We'll cover it.
11:43
[SPEAKER_00]: Obviously, we would always like to have Michael Salar on if he's interested, but he hits a lot of podcasts and you know, you kind of take it for what it's worth from his own word there.
11:53
[SPEAKER_00]: But let's bring up the charts, Brendan show for the first thing I'm going to ask is show me the the Monday news.
11:57
[SPEAKER_00]: So this news dropped of him selling a lot of Bitcoin.
12:01
[SPEAKER_00]: And originally when he first sold a small amount of Bitcoin, it led to like a cascading price.
12:06
[SPEAKER_00]: This time he sells a lot more and the market actually bounced.
12:11
[SPEAKER_01]: Yeah, I mean there's two things to look at here and I wanna walk us through something that I saw last week first because what we've seen is a couple failure to go lower candles from Bitcoin.
12:21
[SPEAKER_01]: I'm gonna move us from the daily to the hourly chart so that we can see this a bit more clearly.
12:27
[SPEAKER_01]: but if you zoom out to last week, there was this liquidation event, right?
12:30
[SPEAKER_01]: This was the all-time lows and what you saw here was a bit kind of roll over here in the later hours of the night on Tuesday, roll over sell
12:43
[SPEAKER_01]: break through cycle lows and sort of aggressively falling to the downside.
12:47
[SPEAKER_01]: I mean, we're talking 58,000 down to 57,000 new cycle lows and then it was bought up extremely aggressively, right?
12:55
[SPEAKER_01]: And that's where you see this big wick come in on the hourly chart.
12:58
[SPEAKER_01]: Bitcoin falls through cycle lows, puts in a huge failure to go lower wick, aggressive buying.
13:05
[SPEAKER_01]: pulse back, higher low, more aggressive buying happening afterwards, and then following this failure to go lower, we can go back to the daily chart, and you can see Bitcoin putting in six green candles and a row on the daily.
13:21
[SPEAKER_01]: So you see it climbing up here from that twos day where it bought them, Wednesday when it bought them this.
13:26
[SPEAKER_01]: And then it basically bounced in one of all Wednesday, Thursday, Friday, Saturday, Sunday, Monday.
13:32
[SPEAKER_01]: And then the news came out Monday-ish about the strategy news, right?
13:37
[SPEAKER_01]: And what you saw was strategy.
13:39
[SPEAKER_01]: You know, selling all this Bitcoin off, people are freaking out.
13:42
[SPEAKER_01]: Bitcoin had been doing good.
13:43
[SPEAKER_01]: People learn the news.
13:45
[SPEAKER_01]: Bitcoin sells off from 63, almost 64,000 falls almost 4% to the downside down the 61,000.
13:53
[SPEAKER_01]: And then Bitcoin again, failure to go lower.
13:56
[SPEAKER_01]: It's the entirety of the move back up.
13:58
[SPEAKER_01]: Goes green on the day.
14:00
[SPEAKER_01]: Closes at the highest point that we've seen in the month of July.
14:04
[SPEAKER_01]: And then,
14:05
[SPEAKER_01]: um has a just again a really good recovery so you see a failure to go lower last week another failure to go lower off of some fud and news this week and then we're rolling over a little bit here but I think that that's largely into some of the topics or related to some of the topics that we're going to be going over here in just a second whether it's geopop.
14:23
[SPEAKER_01]: politics, whether it's the traditional markets which have been really kind of rolling over here.
14:29
[SPEAKER_01]: In recent days you've started to see these decline, some decent sized candles here, you know, going down one, one and a half, two percent plus on some of these days.
14:39
[SPEAKER_01]: Um, and then of course, some of the data that we've been getting saying, hey, maybe this actually is going to affect rate cuts or even boost the chance of rate hikes.
14:48
[SPEAKER_01]: And so the crypto market responding to a mix of different factors, which we'll get into.
14:52
[SPEAKER_01]: But I think the big story from the charts, aside from the news, which we're about to talk about is really that Bitcoin put in a failure to go over a lower last Wednesday, a failure to go lower on Monday.
15:03
[SPEAKER_01]: Now it's starting to roll over a little bit.
15:05
[SPEAKER_01]: So we want to keep an eye on it.
15:07
[SPEAKER_01]: But I like this from a general stance.
15:10
[SPEAKER_01]: The one thing I'll say is, TV just doesn't give us enough data to say definitively if a bottom is in.
15:16
[SPEAKER_01]: I think what this shows us down here is that I think Bitcoin is at a very strong, long-term value area.
15:24
[SPEAKER_01]: What that means is that when we're looking at out, you know, a year from now, two years from now, three years from now, I think,
15:31
[SPEAKER_01]: This is going to be a tremendous area of value when you're looking at that longer time horizon.
15:35
[SPEAKER_01]: What I think still a little bit uncertain is whether or not the bottom is actually in.
15:39
[SPEAKER_01]: We just don't have that kind of data in front of us, right?
15:42
[SPEAKER_01]: You still look at Bitcoin here.
15:43
[SPEAKER_01]: It's beneath that anchored V-wap from the all-time high.
15:47
[SPEAKER_01]: It's beneath the 200-day moving average.
15:49
[SPEAKER_01]: It's beneath the 50-day moving average.
15:51
[SPEAKER_01]: It's forming lower local highs in here.
15:54
[SPEAKER_01]: It's still forming in the macro kind of zoomed out downtrend, still forming lower swing highs.
16:01
[SPEAKER_01]: It's still beneath its prior consolidation range for the most part.
16:04
[SPEAKER_01]: I mean, heck, it's barely above the 20-day moving average.
16:07
[SPEAKER_01]: So when you're looking at the overall trend, the overall trend is still pointing downwards.
16:11
[SPEAKER_01]: There's new sign that's like definitive of a reversal.
16:15
[SPEAKER_01]: There's some data pointing towards that, saying, well, if you zoom out,
16:19
[SPEAKER_01]: And you look at like the weekly RSI and the weekly MACD and the 200 week moving average.
16:24
[SPEAKER_01]: And the anchored VWAP from the prior cycles lows.
16:28
[SPEAKER_01]: Like it does look like this is a tremendous area of value where Bitcoin could bottom.
16:32
[SPEAKER_01]: There's data pointing towards the evidence that it could bottom.
16:35
[SPEAKER_01]: Just not that it has absolutely bottom yet.
16:38
[SPEAKER_01]: And so we're in between a rock and a hard place.
16:41
[SPEAKER_01]: We're again, it looks like there's long-term value.
16:43
[SPEAKER_01]: But there's not definitive proof of a bottom which means it is possible for Bitcoin to come back to the lows, maybe break in the new lows, that has to be something that's on the table.
16:56
[SPEAKER_01]: Now, what does that mean for us?
16:57
[SPEAKER_01]: Well, for me, I still think that the upside risk drastically outweighs the downside risk.
17:03
[SPEAKER_01]: Could Bitcoin go to new lows?
17:05
[SPEAKER_01]: Yes, but it's somewhere that I would really, really want to capitalize on getting more aggressive, personally.
17:13
[SPEAKER_01]: I also think that, again, with the upside risk outweighing the downside risk, I think that there's just more value to be had betting on the upside at these levels than there is betting on the downside.
17:24
[SPEAKER_01]: So what I want to really look at doing here is look at what's strong.
17:28
[SPEAKER_01]: What's working?
17:30
[SPEAKER_01]: What's doing decent?
17:32
[SPEAKER_01]: What's holding some good activity in revenue?
17:34
[SPEAKER_01]: And those are the kind of things that I want to buy on the dips.
17:38
[SPEAKER_01]: And that's kind of the key word here is on these dips.
17:41
[SPEAKER_01]: I want to look at, you know, buying some more of this stuff.
17:44
[SPEAKER_01]: Though I want to buy the absolute breakout, the peak where it's at resistance, not necessarily here.
17:50
[SPEAKER_01]: But I want to be conservatively looking at some of these longer term positions on these dip buys.
17:55
[SPEAKER_01]: And I think Bitcoin still looks good.
17:57
[SPEAKER_01]: I still like ETH and Solana.
17:59
[SPEAKER_01]: I mean, I'm fine buying ETH 1700 or below.
18:02
[SPEAKER_01]: I'm okay buying Solana in the 70s.
18:06
[SPEAKER_01]: You've seen aerodrome pushing up to new yearly highs as of yesterday on Tuesday.
18:11
[SPEAKER_01]: You'll solve.
18:11
[SPEAKER_00]: I'm looking at what you are.
18:14
[SPEAKER_01]: Yeah, man.
18:14
[SPEAKER_00]: It's, it's, it's put a fucking chart.
18:17
[SPEAKER_01]: Basically the highest point that it's been this year outside of it's like it's little peaks So this thing's been crushing it, you know Where was it hyper liquid almost pushing up the all-time highs as well here recently?
18:30
[SPEAKER_01]: Handful of coins that are doing good, so I would just you know say hey, you know There's some stuff going on, but Don't believe the doom and gloomers out there because They always want to make it sound worse than it actually is
18:47
[SPEAKER_00]: great stuff.
18:48
[SPEAKER_00]: Great stuff.
18:49
[SPEAKER_00]: Thank you, Brendan.
18:50
[SPEAKER_00]: Any idea of, you know, I like how you said kind of risk is to the upside.
18:55
[SPEAKER_01]: No, I, and you know what, I credit, I could credit to me.
19:00
[SPEAKER_00]: Love a good credit to me, because I think I've said this a lot.
19:03
[SPEAKER_00]: Um, as you, you know, I'm kind of the macro.
19:05
[SPEAKER_00]: Like, hey, here's what I'm seeing on the timeline and we kind of covered this and hey, these high flying stocks, the memory trade, the AI stocks that have been high flying.
19:14
[SPEAKER_00]: Those are starting to come in a little bit and I'm going to cover that last time you're on, but it's continued, but the bottom hasn't fallen out yet.
19:21
[SPEAKER_00]: So the bottom hasn't fallen out of crypto.
19:23
[SPEAKER_00]: The bottom hasn't fallen out of the stock market yet.
19:25
[SPEAKER_00]: So again, I agree with you.
19:26
[SPEAKER_00]: The, until you see something crack, it feels like
19:30
[SPEAKER_00]: You know, this is a good accumulation zone.
19:32
[SPEAKER_00]: Again, I think you need to you need to understand the risk of war.
19:35
[SPEAKER_00]: Again, nobody can tell you exactly where it's going up or down to guarantee that.
19:39
[SPEAKER_00]: But there seems to be some strength at these levels right now.
19:43
[SPEAKER_00]: And unless there's some other shoe to drop, you'd have to think this is a, you know, without saying personal financial advice for anybody specifically.
19:50
[SPEAKER_00]: It's like, hey, this is a good, you know, accumulation zone, which we both have admitted to.
19:54
[SPEAKER_00]: Like, hey, the automatic buys are on, we're nibbling here, we're planning.
19:57
[SPEAKER_00]: And we're keep continuing to gathering information.
19:59
[SPEAKER_00]: So if you're doing so by listening to this you are in the right place Because we will continue to make great content all through the summer We have a ton of great podcasts coming out Sharp link went out, so if you want the state of the union of Ethereum, please go back and check that out If you have not listened to it, we've got Coinbase John Dagestino coming out this week as well.
20:19
[SPEAKER_00]: That's gonna be an amazing one
20:21
[SPEAKER_00]: and just a little sneak peek.
20:24
[SPEAKER_00]: There's rumors flying around Brendan that Bryce, our fearless leader and I might be heading to a conference on a couple weeks.
20:31
[SPEAKER_00]: It is in the works.
20:33
[SPEAKER_00]: We'll wait until it's 100% confirmed, but some big names at this conference.
20:37
[SPEAKER_00]: Big, big names.
20:38
[SPEAKER_00]: And we're working on getting there and sitting down with people in person for a bunch of different interviews.
20:44
[SPEAKER_00]: So again,
20:45
[SPEAKER_00]: this is why you come to crypto 101 that's why you're a part of the community if you're watching this give it a thumbs up if you haven't yet bottom right subscribe and always has always check out the links below to get more involved in the communities as we move on for some of the news uh Robinhood friends of the show truly and are going to be at this conference so if we go we're going to be meeting uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh
21:06
[SPEAKER_00]: and it's a couple other people from the Robinhood team but it looks like the Robinhood mainnet had a great launch.
21:12
[SPEAKER_00]: Robinhood chain had a great launch, a lot of positive things, a lot of good partnerships along with that as well with all the different layer two's and layer, I think who else was at Uniswap, layer one, layer two's, arbitrum, just a lot of buzz around the Robinhood chain here for RWA's and quite
21:30
[SPEAKER_00]: quote, great for meme coins, too.
21:32
[SPEAKER_00]: I saw our chat with Brian who we're having on Friday.
21:36
[SPEAKER_00]: So book that for Friday, perfect timing to get into the Moment of Moneymakers world.
21:41
[SPEAKER_00]: There's some meme coins popping off on the Robinhood chain as well.
21:45
[SPEAKER_01]: Yeah, there are.
21:47
[SPEAKER_01]: We'll show this chart in just a second.
21:49
[SPEAKER_01]: Yeah, I mean, of cash cat.
21:53
[SPEAKER_01]: One of Robino's leading mean chains.
21:55
[SPEAKER_01]: So you're passing a $100 million in market cap here.
21:59
[SPEAKER_01]: So now ranked at the $234 slot in terms of market cap.
22:03
[SPEAKER_01]: but it's getting a boost.
22:06
[SPEAKER_01]: This thing is running again, Tvo.
22:08
[SPEAKER_01]: Or should I say it's really running right now?
22:11
[SPEAKER_01]: But this thing just ripping, ripping face here to the upside.
22:18
[SPEAKER_01]: Is this the next big area?
22:19
[SPEAKER_01]: I saw our internal analyst team talking about this and is there going to be a lot of potential for short-term plays?
22:28
[SPEAKER_01]: I think that there is.
22:32
[SPEAKER_01]: One of the things that you see is on these exploding ecosystems, there's always opportunities.
22:36
[SPEAKER_01]: What's going to be the main, you know, defy play?
22:39
[SPEAKER_01]: What's going to be the main, mean coin?
22:40
[SPEAKER_01]: What's going to be the main, this, and that, and TVL provider, and you saw what happened extensively with base.
22:48
[SPEAKER_00]: Right, you saw it with Sui, and you've seen it with Ethereum, and you've seen it with other layer two, as you've especially seen it with base.
22:55
[SPEAKER_01]: I mean, I think that there could be some big plays here.
22:58
[SPEAKER_01]: For inside of this new hood ecosystem, there's probably going to be some hype.
23:02
[SPEAKER_01]: You know, is everything that gets pumped up here are going to have long-term value?
23:06
[SPEAKER_01]: You know, I don't think so, but I think that there will be some long-term value plays.
23:11
[SPEAKER_01]: And in the short term, I think there's going to be a lot of different opportunities.
23:15
[SPEAKER_01]: So be careful, you know, it'll be volatile, be lots of ups and downs.
23:19
[SPEAKER_01]: But yeah, interesting stuff.
23:21
[SPEAKER_01]: I mean, Hood's chain here has been pretty successful so far.
23:27
[SPEAKER_01]: Uh, yeah, this is a great stat, you know, Robin Hood's DeFi TVL on the Robin Hood chain nearly doubled in three days to 33.55 million per DeFi Lama and this is only five days after their main net.
23:40
[SPEAKER_01]: So.
23:43
[SPEAKER_01]: More phone Uniswap here, still count for nearly all of it, but core players.
23:48
[SPEAKER_00]: I know me and your bias, especially myself being, you know, calling out Robinhood, whatever it was $9 a share, and that worked from, you know, a pick perspective, but just having them on the show consistently over the years and just how they're building and consistently building and not, you know, not truly worried about price, whether it's stock or crypto that they believe in this technology for the future and they keep rolling out.
24:10
[SPEAKER_00]: newer, newer products and so I think it's, you know, credit to their team.
24:15
[SPEAKER_00]: It's more of the, you know, the tortoise and the hair rights low and steady will win the race and it felt like when the hype was at its highest, you know, maybe Robin Hood and crypto and all that wasn't, you know, obviously people would go there to buy random.
24:29
[SPEAKER_00]: all coins and some Bitcoin.
24:30
[SPEAKER_00]: But when truly building infrastructure, you really didn't think of Robinhood.
24:34
[SPEAKER_00]: And then as, you know, the hype has worn down and the AI trade is now the Bell of the Ball Robinhood continues to build on crypto rails.
24:41
[SPEAKER_00]: And so I think that's that's really important.
24:43
[SPEAKER_00]: And again, one more shout out for Fridays live with Brian.
24:45
[SPEAKER_00]: I'll get that scheduled.
24:47
[SPEAKER_00]: for everybody.
24:48
[SPEAKER_00]: Actually, I think I have it.
24:49
[SPEAKER_00]: I think it's going to be Friday at 2 p.m. with Brian Friday at 2 p.m. eastern live and he's going to cover all this mean coin mania that's going on the robin of chain and just we haven't talked to Brian a while.
25:03
[SPEAKER_00]: So that'd be super super fun.
25:05
[SPEAKER_00]: Put that on your calendar.
25:06
[SPEAKER_00]: But tokenize equity is continue to just gain.
25:09
[SPEAKER_00]: We saw we saw this stat that you put on the sheet Brendan.
25:12
[SPEAKER_00]: So I'll hand that off to you.
25:14
[SPEAKER_01]: This is a wild one, tokenized equity solid record 3.4 billion dollars in volume for the month of June alone.
25:24
[SPEAKER_01]: What this does is it marks a 279% month of the growth rate with 1,400% year over year growth TVL.
25:33
[SPEAKER_01]: This is wild, it was primarily driven by the SpaceX IPO.
25:38
[SPEAKER_01]: searched a man for this thing went wild when all this stuff was happening a lot of centralized exchanges and places were having issues and downtime with the whole SpaceX IPO and you know what people look towards the tokenized markets to get exposure before and after and it's a it's a big deal it even says hey Solana's network here now accounts for 90% of the volume traded inside of these assets
26:06
[SPEAKER_01]: I don't think most people would have thought that prior to this.
26:10
[SPEAKER_01]: When you think of tokenization or tokenized equities rather, I think you would probably think about Ethereum first.
26:19
[SPEAKER_01]: But what this is saying is when you're talking about trading these tokenized equities, 90% of that volume was happening on Solana, not on Ethereum.
26:28
[SPEAKER_01]: Now does that mean we're bearish?
26:34
[SPEAKER_01]: But I think people have discounted salon to too much.
26:39
[SPEAKER_01]: It has been heavily sold off.
26:40
[SPEAKER_01]: People think it's only for memes, and it's just proven not to be true.
26:44
[SPEAKER_01]: They're number one, we looked at them.
26:46
[SPEAKER_01]: They had the number one stats for 24 hour or daily active users.
26:53
[SPEAKER_01]: Number one and daily active users.
26:55
[SPEAKER_01]: Number one in 24 hour transactions.
26:58
[SPEAKER_01]: Number one in daily,
27:01
[SPEAKER_01]: decks volume and now you see them having 90% of the volume traded in these tokenized equities which hit a record number last month in June.
27:09
[SPEAKER_01]: You also see their state.
27:11
[SPEAKER_01]: I don't have this on the chart or on the sheet, but their tokenization or not tokenization excuse me.
27:16
[SPEAKER_01]: Their stablecoin growth rate is another one that's doing pretty well so they're doing okay even though they're not the majority.
27:23
[SPEAKER_01]: of the stablecoin space.
27:24
[SPEAKER_01]: They're not near that.
27:26
[SPEAKER_01]: But you do see their metrics increasing kind of across the board.
27:29
[SPEAKER_01]: So beg the question, if they're increasing the stablecoin market, if they are increasing their tokenized equities market, if they're increasing on and holding
27:39
[SPEAKER_01]: the dominant form of daily active users, daily transactions, and daily dex volume.
27:45
[SPEAKER_01]: I mean, they're a real force to be reckoned with here.
27:48
[SPEAKER_01]: And so listen, guys, we're not maxis.
27:51
[SPEAKER_01]: We love Bitcoin.
27:52
[SPEAKER_01]: We love Ethereum.
27:53
[SPEAKER_01]: We love Solana.
27:55
[SPEAKER_01]: This is not me saying this to kind of roast everything else.
28:00
[SPEAKER_01]: I've exposed it all three.
28:01
[SPEAKER_01]: I do.
28:02
[SPEAKER_01]: I have a lot of exposure to all three of
28:08
[SPEAKER_01]: Again, I think it's hard to write that off.
28:11
[SPEAKER_01]: If you are a maxi looking at one of the other ones, it's hard to justify the success that Salana has seen.
28:17
[SPEAKER_01]: So listen, I'm glad I have exposure to all of them, but I do think Salana has really done a good job here inside of the bear market, leading and growing still, despite what's happened.
28:32
[SPEAKER_00]: I couldn't say better myself.
28:33
[SPEAKER_00]: I really don't have anything to add there.
28:35
[SPEAKER_00]: So we'll just we'll keep moving on.
28:37
[SPEAKER_00]: Again, there's it's fun just finding God these bullish shoots of the continuation of building in the space because again, when you're not the the bell of the ball, it's, you know, a lot of things get brushed on the rug a lot of good John, dig a scene and said this is like you don't have.
28:55
[SPEAKER_00]: you're not inside Coinbase like I am seeing all the bullish information that's coming through the wire.
29:00
[SPEAKER_00]: It's not getting the noise that it usually does because of price action.
29:05
[SPEAKER_00]: And another thing that I saw this week, that really, this one kind of blew my mind.
29:09
[SPEAKER_00]: I bring it up all the time when we talk about different companies hiring crypto positions and digital asset positions.
29:16
[SPEAKER_00]: You know, they're the old guards, and none is the older oldest guard other than Vanguard, who originally was like, well, never sell the Bitcoin ETFs on our platform.
29:27
[SPEAKER_00]: Very, very, very anti-crypto.
29:30
[SPEAKER_00]: Obviously, that changed and they started offering the ETFs.
29:33
[SPEAKER_00]: I think the CEO was kind of pushed out the door.
29:37
[SPEAKER_00]: I'm sure that was in the only reason, but after that decision, the ETFs were at the time the fastest growing.
29:44
[SPEAKER_00]: uh... ETFs uh... for the bitcoin ETF and um... you know vanguard is now hiring a head of digital assets for its personal wealth business yeah i would say this i would say this obviously they wouldn't call it head of crypto but been funny if we made them
30:05
[SPEAKER_01]: Well, I'll have this to say about the former guy.
30:08
[SPEAKER_01]: I don't have a saying, business and bias don't go together, right?
30:12
[SPEAKER_01]: And I think that's what there was back in the day.
30:14
[SPEAKER_01]: Is that you had someone in charge who had a heavy bias, it was not in the best interest of the business.
30:21
[SPEAKER_01]: I think Jamie Diamond used to take,
30:24
[SPEAKER_01]: At least a more admirable approach, where he would say, listen, I don't agree with it, but there's money to be made there and you saw them dealing with digital assets in the whole crypto space despite him maybe not viewing it as favorably.
30:39
[SPEAKER_01]: I think that's respectable.
30:41
[SPEAKER_01]: He's saying I'm putting my bias aside and I'm doing what's best for the business because this can make us money regardless of what I might think in my personal beliefs.
30:48
[SPEAKER_01]: I think it's an intelligent
30:50
[SPEAKER_01]: take as a leader, right?
30:52
[SPEAKER_01]: What you saw in Vanguard was kind of the opposite.
30:54
[SPEAKER_01]: You saw the leader saying, oh, well, I think this and that and we're not going to touch this and we're not going to do it in the business.
30:59
[SPEAKER_01]: And then you saw the crypto ETFs launch.
31:02
[SPEAKER_01]: Be some of the most successful ETF launches that we've ever seen.
31:05
[SPEAKER_01]: Bring in billions and billions of dollars in asset management or AUM.
31:10
[SPEAKER_01]: And
31:11
[SPEAKER_01]: It was super successful so the question goes back how much money did they lose out or miss out on because of these early decisions to avoid all of it and the odds are they are big right I think they're the second I could be largest or I could be wrong about this but I think they're the second largest asset manager.
31:29
[SPEAKER_01]: They're one of the biggest ones in the world.
31:33
[SPEAKER_01]: They could have had a wild amount of market share right likely billions of dollars.
31:39
[SPEAKER_01]: And, you know, they missed it.
31:41
[SPEAKER_01]: So business and bias or bias and business don't always go together.
31:47
[SPEAKER_00]: No, it's a great summary.
31:48
[SPEAKER_00]: It's a great summary and a great lesson just in business in general for people that you're into crypto or not.
31:55
[SPEAKER_00]: Just, I think it's interesting to see these head to visual assets.
32:01
[SPEAKER_00]: Again, referencing that conference that price might be going to, I was looking at the list of attendees.
32:06
[SPEAKER_00]: And it's a confidential list for now, but I think we're going to get, if we do end up going, it's going to get a ton of good interviews.
32:14
[SPEAKER_00]: And a lot of the,
32:14
[SPEAKER_00]: A lot of the people going there would surprise you, because again, it's a lot of names that, you know, the old guards and, you know, New York City being, you know, argued that the finance capital of the world is going to bring the big dogs.
32:25
[SPEAKER_00]: So I'm super excited for that.
32:26
[SPEAKER_00]: I hope we get that finalized fun thing to end on Brian and World Cup mania has taken over the world.
32:40
[SPEAKER_00]: But I will say the these games say a lot of these games have been unbelievable.
32:44
[SPEAKER_00]: I'm a sports guy I think everybody on the podcast knows I'm a big sports guy.
32:48
[SPEAKER_00]: I just love the story lines I love the skill and soccer truly the beautiful game as as they call it and some of these games have been unbelievable Just the drama that you were talking before the show the Argentinian the Argentinian comeback last night
33:05
[SPEAKER_00]: Yeah, it was unbelievable like watching that live was actually like cinema felt like a movie Now what wasn't a great movie was the US soccer team if we're being honest I will say as a as a top sports fan I will give it take here is like hey, this team was hyped up They want a lot of games in the group stage, but you know, they they they went out in the knockout round against Bosnia Sarajevo and then they move on and they have Belgium
33:30
[SPEAKER_00]: And so kind of teeing it up for for this part.
33:32
[SPEAKER_00]: I'll circle it back to crypto in a second here I promise is the the team was quite a let down again I think the group stage was pretty weak you come out you win your first knockout game good You're supposed to win that game and this was the first kind of true test against a top 10 soccer team in the world that is Belgium I think they're ranked number 10 on FIFA's international rankings list
33:52
[SPEAKER_00]: on a lot of great players on there but hey this this US team is supposed to be one of the best we've ever put together not that we can go in the whole thing but we had a chance we were favored going in it's on US home-stoyle and Seattle in front of the whole crowd and they lay an absolute egg.
34:08
[SPEAKER_00]: they lay an absolute egg.
34:11
[SPEAKER_00]: Disappointing our top stars weren't playing, uh, you know, we weren't, we weren't really now.
34:17
[SPEAKER_00]: We were in the game for a little bit, but it got away from them towards the end and just a disappointing performance of disappointing cap as they like to say for international soccer players.
34:26
[SPEAKER_00]: So I posed the question to you, Brendan.
34:28
[SPEAKER_00]: If the US soccer team was a crypto, what would it be?
34:32
[SPEAKER_00]: Bitcoin, Ethereum, Litecoin, or FTX token, and we have a poll here for our friends on YouTube.
34:38
[SPEAKER_00]: I put this out to the audience, and FTX token was the winner.
34:44
[SPEAKER_00]: Yeah, 47% say FTX token.
34:46
[SPEAKER_00]: They're calling them frauds.
34:50
[SPEAKER_00]: I personally voted for Litecoin.
34:52
[SPEAKER_00]: Because, you know, at one point it got me excited, but I don't know if it will ever again.
34:57
[SPEAKER_00]: And then I'm not sure who's put it in Bitcoin, Ethereum.
35:00
[SPEAKER_00]: I don't think they deserve that title, but what do you think of the poll here?
35:03
[SPEAKER_01]: I think FDX, but token is funny and actually pretty accurate, right?
35:09
[SPEAKER_01]: At first, it was great.
35:10
[SPEAKER_01]: We were doing well, we were advancing higher up the rankings, we were making it further in the FIFA World Cup, and then out from underneath our feet, everything's ripped apart.
35:22
[SPEAKER_01]: One to four versus Belgium, on home soil,
35:27
[SPEAKER_01]: We wiped out, we wore the favorites, we got rug pulled.
35:31
[SPEAKER_01]: And the performance was just not great either, right?
35:34
[SPEAKER_01]: That third goal where we had the goalie coming out of the net and into the field and then letting that goal, that to me might have hurt more than the FTX rug pull.
35:45
[SPEAKER_01]: So maybe FDX token is the best, right?
35:48
[SPEAKER_01]: Don't get me wrong, right?
35:49
[SPEAKER_01]: Go USA, we love America here.
35:51
[SPEAKER_01]: We're just bantering a little bit, right?
35:53
[SPEAKER_01]: We're just making some jokes.
35:55
[SPEAKER_01]: But it was a bit of a heart-crushing performance to watch us go out like that.
36:01
[SPEAKER_01]: after how much hype was in it.
36:02
[SPEAKER_01]: I was out for this.
36:03
[SPEAKER_01]: I was out and about out in the town.
36:06
[SPEAKER_01]: It was electric.
36:07
[SPEAKER_01]: I mean, there were hundreds and hundreds of people crowded around the outside of the bar just to look into this thing.
36:14
[SPEAKER_01]: Just to watch it, we scored to make it one one, a electric energy, and then they score like what?
36:20
[SPEAKER_01]: Like seconds later, they score the second goal, and then the third, and then the fourth, right before the game ends.
36:25
[SPEAKER_01]: And yeah.
36:28
[SPEAKER_01]: probably hurt more than the FTX truck pull honestly.
36:30
[SPEAKER_00]: All right, well, the pull still up.
36:35
[SPEAKER_00]: There's a couple of layers left.
36:36
[SPEAKER_00]: So if you're watching it, so let's see if you give it a vote.
36:38
[SPEAKER_00]: I do want to talk to whoever voted them as Bitcoin, because I don't think that is.
36:42
[SPEAKER_00]: I think Messi is an Argentina might be the Bitcoin.
36:46
[SPEAKER_00]: of the group, but really appreciate everybody tuning in mid week here on a Wednesday.
36:50
[SPEAKER_00]: Thank you so much.
36:51
[SPEAKER_00]: We will be back Friday with Brian.
36:53
[SPEAKER_00]: That's going to be a really fun live.
36:54
[SPEAKER_00]: We'll continue to put out great interviews.
36:56
[SPEAKER_00]: We really appreciate everybody who tunes in every week.
36:59
[SPEAKER_00]: Thank you so much.
37:00
[SPEAKER_00]: We'll talk to you soon, but that's all for now.
37:02
[SPEAKER_00]: Bye everybody.