Latest / CRYPTO 101 / Crypto Rundown: Bitcoin's Uptober Rally Has Started: What Altcoins Will Follow?!

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Crypto Rundown: Bitcoin's Uptober Rally Has Started: What Altcoins Will Follow?! · CRYPTO 101

0:08
[SPEAKER_00]: Alright everybody, welcome back to the Crypto 101 podcast.
0:13
[SPEAKER_00]: It's a rundown Friday.
0:14
[SPEAKER_00]: We've got Brian McNutt and it is officially uptober.
0:17
[SPEAKER_00]: Bitcoin continues its September momentum into Crypto's favorite month.
0:24
[SPEAKER_00]: uptober guys uptober historically has been one of the best months for Bitcoin we're gonna break all that down and the stats will surprise you from what you see with a strong September into October again we can't guarantee that past performance guarantees future results but it is something
0:41
[SPEAKER_00]: that is worth talking about because the statistics favor a momentous uptober and a momentous bull market into the rest of the year you've been with us since the bottom ticks we have the moment of now so what's Bitcoin going to do in October what are all coins going to do as well we're going to cover it all for you now we've got some big altcoin news around some of the tokens that we've talked about over the last couple shows you're going to want to stick around give this a like bottom right if you're new subscribe we do this multiple times a week
1:08
[SPEAKER_00]: You can see here on the the coin market cap.
1:11
[SPEAKER_00]: We can break that down in a little bit, but let's jump right into the September performance Brian Bitcoin surged 44% in the past three months.
1:21
[SPEAKER_00]: Just an absolute bullish run and a green September which leads us into six six point three three percent officially force of timber for a green September a green quarter a crazy quarter.
1:34
[SPEAKER_00]: I heard a stat, it was like, for a quarter, it was Bitcoin, and crypto as a whole was the number one performing asset, then oil, and then software in the mag seven.
1:44
[SPEAKER_00]: So if you really take that as a approach as we head into Q4, the last quarter of the year, it's amazing to see how those assets have done a full 180 specifically software and crypto compared to in the beginning of the year.
1:58
[SPEAKER_00]: which we were just watching this free fall from software because AI was going to kill all software stocks.
2:03
[SPEAKER_00]: We're watching the free fall from Bitcoin, but we stood on the show all year and said we were buying the dip and we look quite smart for doing so whether it was the IGV or Bitcoin.
2:13
[SPEAKER_00]: So let's bring up October, Brian, as I handed off to you, welcome back to the show.
2:17
[SPEAKER_00]: Just give the people some, some October momentum.
2:20
[SPEAKER_00]: What do you think, and how are you feeling, welcome to October, welcome back to the show.
2:25
[SPEAKER_01]: Hey, good to be here.
2:26
[SPEAKER_01]: Happy Friday.
2:28
[SPEAKER_01]: Always love a good old fashioned Friday run down in your right man.
2:32
[SPEAKER_01]: You were just talking about September.
2:33
[SPEAKER_01]: Typically, September was kind of like this red month in crypto.
2:37
[SPEAKER_01]: But the past few years, I mean, it literally was called wrecked
2:45
[SPEAKER_01]: love a good October and that's historically October as you can see has been one of Bitcoin strongest months averaging I think it's right around like a 19 20% return now obviously I'm not buying Bitcoin just because the calendar changed from September to October that's not how it works we even had is it last year was a negative October or is it a cancer yeah
3:10
[SPEAKER_00]: So that was October.
3:11
[SPEAKER_00]: There was that huge liquidation as well.
3:15
[SPEAKER_01]: 1010.
3:15
[SPEAKER_00]: Yeah.
3:16
[SPEAKER_01]: Well, they really took the freaking air out of our balloons and that 1010 liquidations.
3:21
[SPEAKER_01]: But I do think seasonality matters when it lines up with everything else.
3:25
[SPEAKER_01]: We're getting into an improving sentiment.
3:28
[SPEAKER_01]: a much better macro setup, renewed ETF demand, more retail activity.
3:34
[SPEAKER_01]: I still think retail activity is still a little bit long, but it's starting to pick up a little bit and also begin to move and now historically, Bitcoin's in one of the strongest months.
3:44
[SPEAKER_01]: I love
3:46
[SPEAKER_01]: a good October, and I've been saying on this run down with in our community, I mean this is when we were like sitting at like a nine-fearing greed meter, I was like man, I think this fall is going to pick up, I'm really excited for what October's going to bring us.
4:02
[SPEAKER_01]: And we're here now and I'm still sticking to those guns for good reason.
4:06
[SPEAKER_01]: I think it's going to be a really good month and I think we're just starting to get a little bit more bold up, but a couple of big brains over here, Tvo you and me man, we were saying by the dip when it felt really gross and it feels like that was a good move.
4:19
[SPEAKER_00]: Yeah, and it was, yeah, I just love, it's looking back as the year continues and obviously the year's not over, but that, yeah, that first quarter there, in second quarter, I remember we were kind of teeing up the Bitcoin, got wrapped up in that AI narrative and we kind of laid it over the IGV chart, which is the software chart and it was just falling off a cliff.
4:41
[SPEAKER_00]: And, you know, I was definitely one of the people in the show and I think, you know, you were here with me and we all kind of agreed like, hey, this is, this is where we want to step in and buy the dip, this narrative is getting out of hand and it was a goodbye, especially for Bitcoin and the IGV is a whole lot of those software stocks, specifically like the cyber security or crowd strikes just came roaring back.
5:02
[SPEAKER_00]: as if, you know, not that AI is not going to revolutionize the world.
5:06
[SPEAKER_00]: I think it is, especially in finance, which is why we're here because we think that crypto is downstream from AI.
5:12
[SPEAKER_00]: And that's why we're so bullish on a lot of our projects and a lot of our coins.
5:16
[SPEAKER_00]: I just kind of did this off the cuff.
5:19
[SPEAKER_00]: Um, because we've had such a, I mean, eath had its bet, I think it was that eath had its best quarter in history, up 71.2% Tom Lee did an interview, a friend of the show, of course, uh, September, like, September, like, second or third, and he wore a green tie and he said, green September, it's going to be green.
5:38
[SPEAKER_00]: Um, just doing a victory lap there.
5:39
[SPEAKER_00]: ETH best quarter in history, 71% uh, and then a Bitcoin at 44% I bring this up.
5:46
[SPEAKER_00]: The Google Trends chart, which we haven't pulled up too much recently, but I do think it is fascinating because I, I like this as a part of my toolkit.
5:54
[SPEAKER_00]: Some people don't, but I do and you can kind of see your Bitcoin does hit the hundred mark there in January that last kind of flush out of you will.
6:02
[SPEAKER_00]: And then over here on the right, your average interest, this is your calendar year, is 36.
6:07
[SPEAKER_00]: And right now for Bitcoin, we're hanging around a 21.
6:11
[SPEAKER_00]: So we're below the average interest.
6:13
[SPEAKER_00]: People aren't searching for it.
6:14
[SPEAKER_00]: Like we, a 44% move is great.
6:17
[SPEAKER_00]: 71% move is unbelievable.
6:18
[SPEAKER_00]: If you were buying the dip,
6:20
[SPEAKER_00]: but everybody else got shaken out along the way and I just don't think we're at the psychology levels like me.
6:25
[SPEAKER_00]: I think me and you talked about a couple weeks ago.
6:26
[SPEAKER_00]: We're not getting the text yet.
6:28
[SPEAKER_00]: We're not getting the calls yet.
6:29
[SPEAKER_00]: Which is good.
6:30
[SPEAKER_00]: Not that there need there can be consolidation in the charts.
6:33
[SPEAKER_00]: Hunter and Brennan have always teed that up for you guys when they get out here.
6:36
[SPEAKER_00]: Like we had a big run.
6:37
[SPEAKER_00]: That's not to mean that there can't be some consolidation.
6:40
[SPEAKER_00]: But the overall phomo fuse I believe is still there.
6:44
[SPEAKER_01]: Oh, absolutely, man.
6:45
[SPEAKER_01]: I actually just had a long drive this past weekend with a buddy of mine.
6:49
[SPEAKER_01]: We were driving and he was asked me a few questions about crypto and I just started verbally vomiting all over him about the crypto market and about, I mean, I was like, uh, uh, just a commercial for crypto, but one of my biggest takeaways or at least he said was the biggest takeaway is that
7:06
[SPEAKER_01]: I don't think retail is fully back.
7:08
[SPEAKER_01]: I don't think that that phomo factors back.
7:11
[SPEAKER_01]: And we, I said, it's all the time on the run down that we see the beginnings of a bull market is when the trenches start to get catch a little bit of fire, because it's like people have been around for a while.
7:22
[SPEAKER_01]: You know, guys like me, guys like yoga, guys that like are trading.
7:26
[SPEAKER_01]: We just want to see a little bit of liquidity a little bit of momentum, but we never left.
7:30
[SPEAKER_01]: Do you know where we've been here?
7:32
[SPEAKER_01]: Things start picking up.
7:33
[SPEAKER_01]: So you start to see like the trenches kept fire, more speculative assets get going, but retail hasn't really jumped in.
7:40
[SPEAKER_01]: And I think that's what we're seeing right now is that a lot of retail isn't quite there yet.
7:45
[SPEAKER_01]: We don't have that interest, what's it called interest over time by any means by all time highs.
7:52
[SPEAKER_01]: I think that's going to continue to increase.
7:55
[SPEAKER_01]: And that's what makes me bullish that this is just the beginning stages.
7:59
[SPEAKER_01]: This is when you want to start paying attention, you know, if you feel like you're late, not finding it to a vice, but I do not think we're late.
8:08
[SPEAKER_01]: I still think we are massively early for where we're going and when it's going to be exciting and it's going to be you for it, because I don't think the regular person down there is talking about Bitcoin.
8:19
[SPEAKER_01]: it does feel like it has less of a negative sentiment like I saw some buddies over the weekend who would usually maybe give me a hard time about like with a crypto market is nobody was really saying much you know they were kind of just like hey I heard it's it might be coming back but nobody was asking about buying it with any of that retail interest but nobody was absolutely a poo poo and on it either so this is this is the time to be really really zeroed in
8:47
[SPEAKER_00]: Yes, we've got the last, I mean, one, two, let's see six plus one other sevens.
8:52
[SPEAKER_00]: We've got like 15 years of data, the average is the last, the last year's has been 18% upwards for the average and then the median's going to be 12% so we'll keep two and then something we'll have to track here.
9:06
[SPEAKER_00]: Obviously last year, it's towards the end of the year, it did not work out in our favor, but
9:11
[SPEAKER_00]: Hey, a lot of green on the board there, and then if you weren't expecting it, it's fine.
9:16
[SPEAKER_01]: I just laughed to myself because I was thinking about our run-downs last holiday season.
9:22
[SPEAKER_01]: Whenever there was that meme you were showing around that we were showing whenever it's like coming downstairs for like Thanksgiving or Christmas dinner.
9:32
[SPEAKER_01]: It was just, it was just such a brutal time, you know, seeing the family when we were just talking about it, it was just like, you know, they're like, when's it's going to stop and, you know, we didn't really have the heart to tell him that like, it's going to be a rough one, but
9:50
[SPEAKER_01]: You know, there's just the memes you were pumping, and if you're not following the crypto one-on-one podcast, the x-handle, Tvo's like, one of the best memeers around, I mean, they literally get me laughing out loud half my day, gets me through that tough day, and there was some even in a bear market, man, some of the best ones that you pump out, because we can have a little bit of fun with it, because we know long-term everything's gonna be okay.
10:14
[SPEAKER_01]: But I just I just started laughing because I was thinking about the holiday season.
10:19
[SPEAKER_01]: It's like coming down to see the family it was tough.
10:22
[SPEAKER_00]: I mean, everybody we thought we wanted up to over last year.
10:24
[SPEAKER_00]: The momentum was there to have that blow off top, which again, we, you know,
10:29
[SPEAKER_00]: Nobody, nobody knows exactly what's going to happen.
10:31
[SPEAKER_00]: We always say that is like, hey, if somebody tells you they know exactly what the price of any assets going to go their line to you, but there was that setup for a ball of top last year into the end of the year and it didn't happen.
10:42
[SPEAKER_00]: And then it led to you know one, two, three.
10:44
[SPEAKER_00]: for five straight down months of Bitcoin and crypto and a true bear market.
10:51
[SPEAKER_00]: And so we feel the momentum this year going into the end of the year.
10:55
[SPEAKER_00]: And as much as we're not going to see here and say we guarantee where we know it's going.
11:00
[SPEAKER_00]: I think we can all on the team say we like our position.
11:02
[SPEAKER_00]: We like where we're at because again we had that dry powder.
11:05
[SPEAKER_00]: We bought that dip.
11:06
[SPEAKER_00]: And if you weren't excited enough, we're going to have to mention this again next week as well because I need Brendan to chart it, but if you were following the crypto 101 Twitter this week, there was a tweet that went out that if real OG crypto 101 Twitter followers know there's brighter days ahead, there's greener days ahead because crypto baggle.
11:26
[SPEAKER_00]: There was a crypto bagel with past weekend.
11:29
[SPEAKER_00]: I was sitting there, I was making my bagel, and I was looking at it, and I was like, this is a perfect bagel.
11:35
[SPEAKER_00]: The bagel was perfect.
11:37
[SPEAKER_00]: The eggs were perfect, perfect amount of seasoning there, perfect toast, and then I was just like, man, in a couple days, it's up to over.
11:45
[SPEAKER_00]: And I just was like, ah, you know, fuck it, crypto bagel.
11:49
[SPEAKER_01]: So crypto bagels back.
11:50
[SPEAKER_00]: I'm going to have Brendan put that on the chart so we did that last time and I think Bitcoin rallied like 20 plus percent last time we put crypto bagel on the chart so we'll have to keep track of that for everybody else as we pull up coin market cap the seven day you know even for the coin market cap 20 looking pretty flat a little down here is he cash doing a little correction I think quang we talked about that on the show this week.
12:14
[SPEAKER_00]: took a little correction as well.
12:16
[SPEAKER_00]: We'll seven day up on 50, but a little correction in the last couple days.
12:21
[SPEAKER_00]: Pump fun.
12:22
[SPEAKER_00]: I know you have that on the sheet.
12:23
[SPEAKER_00]: Something to talk about later.
12:24
[SPEAKER_00]: So again, it's that kind of like consolidation phase.
12:27
[SPEAKER_00]: We got our popcorn phase.
12:28
[SPEAKER_00]: The fear and greed index is a balmy 69.
12:32
[SPEAKER_00]: Nice.
12:33
[SPEAKER_00]: You know, we don't make the numbers.
12:34
[SPEAKER_00]: We just report them.
12:36
[SPEAKER_00]: And so it's been hanging in this greed and just hanging in greed.
12:39
[SPEAKER_00]: We haven't hit extreme greed.
12:41
[SPEAKER_00]: We haven't had that blow off top.
12:42
[SPEAKER_00]: We haven't had that quick sell off that panics.
12:45
[SPEAKER_00]: Everybody is at over.
12:46
[SPEAKER_00]: Does it over to bring us back to neutral?
12:48
[SPEAKER_00]: So before we move on to the the altcoin specific stuff.
12:51
[SPEAKER_00]: Anything you see on the board here of coin market cap.
12:54
[SPEAKER_00]: Do you want to touch on Brian?
12:56
[SPEAKER_01]: Yeah, I mean, I just kind of like we're at right now.
12:58
[SPEAKER_01]: We're a little bit flat.
12:59
[SPEAKER_01]: Doesn't feel like it's going to move too violently in either direction with a total mark caps like 2.9 trillion.
13:06
[SPEAKER_01]: Bitcoin dominance, I saw this morning was right around like 59.60%.
13:11
[SPEAKER_01]: So that's why I'm not sitting here saying alt-season is here, but we're definitely seeing more alt to participate.
13:16
[SPEAKER_01]: We're seeing, but Bitcoin is still contributing to a huge percentage of this market.
13:23
[SPEAKER_01]: That's set up.
13:23
[SPEAKER_01]: I really like to see is when Bitcoin continues higher and eventually settles down.
13:28
[SPEAKER_01]: The dominant starts rolling over and that's when things really start to get fun for alt's.
13:34
[SPEAKER_01]: And I feel like that's starting to kind of about brew up a little bit here right now.
13:39
[SPEAKER_01]: Next up, arrow, and this is becoming a much bigger story than just airdrome and a velodrome.
13:46
[SPEAKER_01]: So they're merging tokens.
13:48
[SPEAKER_01]: So arrow and velo are essentially becoming a unified protocol under arrow launches October 21st across seven different chains.
13:58
[SPEAKER_01]: So it's going to be base, it's going to be a theorem, it's going to be optimism,
14:04
[SPEAKER_01]: Inc, and then even Robinhood Chain, that last one is really what caught my attention, and to just make it clear, this is an arrow getting listed on Robinhood BrokerDap.
14:15
[SPEAKER_01]: It's arrow actually deploying onto Robinhood Chain.
14:19
[SPEAKER_01]: And we know Robinhood Chain's been absolutely fire recently.
14:22
[SPEAKER_01]: Then we got Coinbase officially supporting, it's going to be a token migration in early November, so existing arrow converts one to one into the new arrow and then it's going to convert, it's going to convert over there.
14:36
[SPEAKER_01]: So it does sound like on Coinbase, it's going to be supported.
14:39
[SPEAKER_01]: To me, the bigger thesis here, it's pretty straightforward.
14:42
[SPEAKER_01]: Aerodrome has been one of the most dominant liquidity venues on base, and I'm a holder of it, and Velodrome has been on optimism.
14:54
[SPEAKER_01]: Now they're trying to take that model and turn it into this unified liquidity layer across those seven chains I just mentioned, and that dramatically, this is the bullish part about it is it dramatically expands the playing field for arrow, and it's getting Robinhood included at the launch,
15:10
[SPEAKER_01]: Especially with everything Robinhood's doing around tokenized assets.
15:13
[SPEAKER_01]: It's definitely something I'm watching.
15:15
[SPEAKER_01]: I'm a holder of arrow I've been kind of waiting for them to make that next move and I don't want to say I've been disappointed But I've been waiting for bigger moves for far too long now I think this is the step in the right direction and again when they announced the seven different chains seeing the Robinhood chain being included Makes me pretty bullish where we're going with arrow from a longer term
15:40
[SPEAKER_01]: Now if we were talking about the crypto bagel and whenever he was talking about the crypto bagel and how bored that is, this is totally off the cuff.
15:48
[SPEAKER_01]: I was curious when the mick ridd comes back and I'm sure if you've been watching the running down for a while and I actually asked chat GPT and they say late October into November.
15:58
[SPEAKER_01]: is what they're predicting.
15:59
[SPEAKER_01]: That's another reason.
16:00
[SPEAKER_01]: Let's just throw another block onto the pyramid why things could get extremely interesting because if you know, that make rib.
16:09
[SPEAKER_01]: We were trying to push it last year and it was bullish for like a week or two and then we that stuff that happened
16:20
[SPEAKER_01]: And I love this setup.
16:21
[SPEAKER_01]: I do the crypto bagel, the Mick rib.
16:24
[SPEAKER_01]: We've got arrow going across seven different chains.
16:27
[SPEAKER_01]: I think things are picking up.
16:28
[SPEAKER_01]: It's feeling good for the boys.
16:30
[SPEAKER_00]: Yeah, an arrow coming to Robinhood, right?
16:33
[SPEAKER_00]: So arrow is anonymous with being on base and just kind of now seems to be spreading its wings, if you will.
16:40
[SPEAKER_01]: Yeah, it's I think it's going to go well and we've seen I haven't looked at it over the past couple days, but it's been kind of grinding up in a pretty positive direction.
16:49
[SPEAKER_01]: So I really love to see what's what's been happening there.
16:53
[SPEAKER_00]: Yeah, definitely, you know, a coin you've covered for a while and the team has put out multiple reports on, and it's been a good buy for everybody.
17:01
[SPEAKER_00]: And so if you're somebody that's interested in learning about our number one coin right now, the bull market heading into October, heading into the end of the year, as this bull market continues, check the link below.
17:12
[SPEAKER_00]: We have our number one coin report.
17:15
[SPEAKER_00]: I think it's for a dollar, because it's a special.
17:18
[SPEAKER_00]: So go down there for one dollar, get the number one coin report.
17:20
[SPEAKER_00]: check out our other links there as well.
17:23
[SPEAKER_00]: Brian some news around near that you brought to the run down today.
17:27
[SPEAKER_00]: Yeah, what's near price at today?
17:29
[SPEAKER_00]: I think it's like kind of flat.
17:31
[SPEAKER_00]: It's actually up 0.22%.
17:33
[SPEAKER_01]: Yeah, so we have some good news of bad news around near.
17:35
[SPEAKER_01]: So let's start with the bad news.
17:37
[SPEAKER_01]: I'm pretty much a bad news first type of guy.
17:39
[SPEAKER_01]: I near intense was hit by an exploit for roughly about $3.8 million.
17:44
[SPEAKER_01]: You never like to hear that.
17:45
[SPEAKER_01]: The issue involved the Omni deposit was drawing for structure interacting with like these near-intents in the smart contracts.
17:53
[SPEAKER_01]: The team says they patched the vulnerability and they're going to fully reimburse affected users.
17:59
[SPEAKER_01]: Also important, this wasn't a near-block chain itself being hacked, but still another reminder that when you're using bridges and cross-chain infrastructure and applications built,
18:08
[SPEAKER_01]: on certain applications that there can be a risk, layers of risk.
18:14
[SPEAKER_01]: Now, the crazy timing is that Bitwise's brand new near ETF launch basically right before that happened, and it's first two days, probably like $50 million dollars.
18:24
[SPEAKER_01]: So you've got Wall Street showing legitimate demand for a near almost exactly the same time when the ecosystem suffered, you know, an exploit.
18:32
[SPEAKER_01]: I actually do think the next few days of the ETF flows might be a little interesting to see what investors think about it, but personally I'm pretty bullish on near and you hate to hear about an exploit and we saw this with Z-Cash.
18:45
[SPEAKER_01]: In the Z-Cash exploit it was a much bigger issue of my opinion.
18:48
[SPEAKER_01]: but where I take this and what makes me feel even more confident is I think the team addressed this like within the first hour I could get that could be a little off there but fast.
18:59
[SPEAKER_01]: They're fully reimbursing it.
19:01
[SPEAKER_01]: This is the reason I was like really excited about Z-Cash is that they found their exploit on their own.
19:07
[SPEAKER_01]: They addressed it.
19:09
[SPEAKER_01]: They weren't like trying to pull the wall over eyes like some companies would they were like hey this is the issue this is what happens.
19:14
[SPEAKER_01]: It's
19:18
[SPEAKER_01]: and they did really quickly and it's exactly what kind of near-date as well.
19:22
[SPEAKER_01]: They've patched it even quicker.
19:24
[SPEAKER_01]: We're very open and transparent about what happened.
19:28
[SPEAKER_01]: And they reimburse everyone.
19:29
[SPEAKER_01]: They reimburse everyone over close to 4 million bucks.
19:33
[SPEAKER_01]: And just looking at the price of the last hour.
19:35
[SPEAKER_01]: I mean, we're down like a percent on 24 hours and we're up on the last hour.
19:39
[SPEAKER_01]: So it doesn't feel like the market really is too shaking up by it.
19:44
[SPEAKER_01]: And I could really spin this for a bullish case to be honest with you.
19:50
[SPEAKER_01]: I know you we read exploits and I hate to hear that in anything crypto.
19:54
[SPEAKER_01]: But I love when projects address things and they don't hide from the news.
20:00
[SPEAKER_01]: I mean stuff happens and you can definitely handle it the right way and it kind of shows off the team.
20:06
[SPEAKER_01]: So not too shaken up by personally, but it's something that we obviously have to
20:14
[SPEAKER_00]: Yeah, and then obviously being backed by a bit wise with a fun there is definitely a check in the bullish box because bit wise certainly does the research has an awesome team has been on the program many many times and hopefully many more to come so it'll be interesting to get them on again for kind of a year and cue for update and definitely near will definitely be a topic so yes something to watch there again just kind of cover in the news which is what we do here.
20:42
[SPEAKER_00]: But near they were ripping too recently.
20:46
[SPEAKER_00]: They were ripping higher going to the exploit, which I'm sure cooled it off, but they had quite the rip
20:52
[SPEAKER_01]: Yeah, I mean, they're near intense, it took us a little project, it's a smooth interface.
20:58
[SPEAKER_01]: I'm a fan of what they're doing and it's always easy to say like when you're up like 200% or something ridiculous over the past, you know, 30 or 60 days.
21:07
[SPEAKER_01]: Obviously, we like when the number goes up, but from a pure product standpoint,
21:12
[SPEAKER_01]: They're building, they're bringing something that's really intuitive to use.
21:16
[SPEAKER_01]: Obviously, Bitwise is a big fan.
21:18
[SPEAKER_01]: And again, I'm not shaking up over the exploit.
21:22
[SPEAKER_01]: I like how they took full responsibility for it.
21:24
[SPEAKER_01]: They patched it quickly.
21:25
[SPEAKER_01]: They're reimbursing users.
21:27
[SPEAKER_01]: Just makes me feel more confident.
21:28
[SPEAKER_01]: And it's kind of my, it's like a, it's like, it's the same thesis I kind of had for Z-Cash.
21:33
[SPEAKER_00]: So I might take a little bit closer look at Neuro over the next few days.
21:37
[SPEAKER_00]: There we go.
21:38
[SPEAKER_00]: Um, something the fellas are going to be looking at for sure is perps on Robin Hood.
21:43
[SPEAKER_00]: More perps for the fellas.
21:45
[SPEAKER_01]: They go on here dude.
21:47
[SPEAKER_01]: He's been like perping it up and prediction marking it up on Robin Hood.
21:50
[SPEAKER_01]: Robin Hood's brought my guide in the front.
21:54
[SPEAKER_00]: I know, I know, Robin Hood just keeps innovating, keeps delivering products that, again, in the past, people were trying to find this and VPNing and figuring out how to get perps and wanting to play in the pool of leverage, which again, is dangerous, it's not for everybody.
22:11
[SPEAKER_00]: We definitely want to say that up front is, hey, you need to be educating, you need to be know what you're doing in this, in this perps pool, if you will.
22:19
[SPEAKER_00]: But Robinhood is bringing 10X crypto trading to the US retail pool here.
22:27
[SPEAKER_00]: Wow, a product again, like I just said that live mostly offshore.
22:31
[SPEAKER_00]: Perpetual futures are one of crypto's most traded products, but the US rules have long limited access.
22:37
[SPEAKER_00]: And here comes Robinhood 10X leverage on Bitcoin and Ether and 3X on other coins.
22:49
[SPEAKER_00]: feel like it's exciting to have you know more options for traders but you know there's going to be a lot of people that are actually wrecked by this.
22:57
[SPEAKER_01]: Yeah, people are gonna get wrecked.
22:58
[SPEAKER_01]: Be very careful with leverage.
23:00
[SPEAKER_01]: I've kind of had to slap my own hand every once in a while with the leverage bug because it can, I mean, it's tough.
23:07
[SPEAKER_01]: But Bitcoin and Ethereum 10X leverage.
23:10
[SPEAKER_01]: We got Seoul, we got Ripple, we got Doge, we got Cardano, we got Chainlink, and interesting enough, even hype with three X leverage.
23:18
[SPEAKER_01]: So great, everyone go 11 of themselves 10X on Bitcoin.
23:23
[SPEAKER_01]: If you like that sort of thing, I think the bigger takeaway here,
23:27
[SPEAKER_01]: is that the infrastructure perp futures is one of the biggest products globally.
23:31
[SPEAKER_01]: Robin Hood's put in this type of product inside one of the most mainstream retailing platforms in America.
23:37
[SPEAKER_01]: We got stocks.
23:38
[SPEAKER_01]: We got options.
23:39
[SPEAKER_01]: We got futures.
23:40
[SPEAKER_01]: We got crypto.
23:40
[SPEAKER_01]: We got prediction markets.
23:42
[SPEAKER_01]: Now we got crypto perks.
23:43
[SPEAKER_01]: Perps.
23:44
[SPEAKER_01]: So what's this tell us?
23:46
[SPEAKER_01]: I know a guy that was calling the hood stock early too.
23:49
[SPEAKER_01]: He saw this happen.
23:51
[SPEAKER_01]: The big brain, they know of them, but this is exactly what we were kind of open Robinhood would be, it was going to be talking about, they feel like they're becoming that everything out, that's super financial app and they're, they're day one and day two, some it just this week.
24:07
[SPEAKER_01]: I watched over the day one, some it quite a bit.
24:11
[SPEAKER_01]: about what they were talking about this purpose as a huge deal I thought then they were really leaning into AI agents as well.
24:18
[SPEAKER_01]: So we talk a lot about AI on the summit and AI agents and how AI is the future.
24:22
[SPEAKER_01]: I mean Robinhood believes the same thing.
24:24
[SPEAKER_01]: They're moving 24-7 trading with stocks.
24:29
[SPEAKER_01]: They're like the go-to right now.
24:32
[SPEAKER_01]: As the super fan of crypto 101 Robinhood fan base Tvo,
24:39
[SPEAKER_00]: Yeah, I mean, it's exciting.
24:40
[SPEAKER_00]: I think that the haters are robin' it for a long time of just kind of written them off as, I don't know, just not a financial app just more of a gambling app and not to say that you can't get down and get some action on some fun stuff, but they really give you the tools.
25:00
[SPEAKER_00]: It's like that famous quote from,
25:03
[SPEAKER_00]: from stepbrothers.
25:03
[SPEAKER_00]: It's like, I got, you know, you get a job in it, a prize ran a car, they give you the job, the tools to be your own boss.
25:08
[SPEAKER_00]: It's like Robin, it gives you the tools to be your own, you know, investor.
25:11
[SPEAKER_00]: And I think you kind of, it's just like anything in life, like you you'll learn hard lessons along the way.
25:16
[SPEAKER_00]: I think every Robinhood user, if they were honest, would say, like, hey, they got in over their skis at some point, but, you know, they learned to lesson from it and kept going on.
25:26
[SPEAKER_00]: And they just have so many awesome, um,
25:29
[SPEAKER_00]: you know, ways you can invest your money and it helps you really educate.
25:34
[SPEAKER_00]: And if you want to get the education, they have that too to make sure that you're doing it the right way.
25:39
[SPEAKER_00]: So it is just, it's more, they kind of always go by what their motto is.
25:45
[SPEAKER_00]: It's like access for all, right?
25:47
[SPEAKER_00]: Financial access for all.
25:48
[SPEAKER_00]: A lot of the stuff that they've been rolling out with like 24-7 trading was always been available to the big boys and it wasn't available to you and so that's you know a huge you know disadvantage and so you know if you want all the tools you got to take the the responsibility of the education understand what you're doing and purpose is definitely falls into that category.
26:08
[SPEAKER_00]: But I don't think the only one, I think Coinbase is right behind them Coinbase continues to build their relationship with the CFTC.
26:14
[SPEAKER_00]: Brian Armstrong seemingly has lived in Washington, D.C.
26:17
[SPEAKER_00]: The last year trying to fight for the Clarity Act.
26:20
[SPEAKER_00]: And it seems that the Coinbase has got approval to be Coinbase clearing LLC.
26:25
[SPEAKER_00]: It's on derivatives clearing organization.
26:28
[SPEAKER_00]: So again, they keep building the products that they're offering.
26:31
[SPEAKER_00]: Does this news get you excited for any new products that they might have in the pipeline?
26:35
[SPEAKER_00]: What do you see coming from this?
26:37
[SPEAKER_01]: Yeah, they've already been expanding Perps Futures Access.
26:40
[SPEAKER_01]: I've, I've experimented with that a little bit and they've said single stock, a single stock, Perps are coming as well.
26:48
[SPEAKER_01]: So I do think the competition's getting really interesting.
26:51
[SPEAKER_01]: We got Robin Hood versus Coinbase isn't just a stock broker versus crypto exchange anymore.
26:56
[SPEAKER_01]: Both companies, one crypto stocks, derivatives, tokenized assets, and eventually more and more markets trading around the clock.
27:04
[SPEAKER_01]: So the biggest takeaway here is that the lines between a crypto exchange and a traditional brokerage are pretty much disappearing pretty quickly and Robinhood and Coinbase feel like they're kind of wrestling around for this area.
27:18
[SPEAKER_01]: I do feel like one day I'm like, oh Coinbase is in the lead and now Robinhood is in the lead.
27:23
[SPEAKER_01]: I think both can be very successful.
27:25
[SPEAKER_01]: You need competition in the space to thrive.
27:28
[SPEAKER_01]: But it's interesting to see that these lines are blurring pretty quickly.
27:34
[SPEAKER_00]: Yeah, it's definitely, it's definitely getting blurry.
27:37
[SPEAKER_00]: And they also came out with a new buying of the binders about to get a major upgrade, so it's a new feature with Pokemon coming out of Coinbase.
27:46
[SPEAKER_00]: You can rip packs on your phone.
27:48
[SPEAKER_00]: Every pull backed by a real physical card brine.
27:51
[SPEAKER_00]: You could vault it.
27:52
[SPEAKER_00]: You could ship it soon to Coinbase.
27:55
[SPEAKER_01]: You excited?
27:57
[SPEAKER_01]: Did we just like miss the Pokemon creases like that?
28:03
[SPEAKER_00]: I am just I would shock that you did you and Joe I mean Joe has to have had some hands in the in the Pokemon real card jar Because I have friends I've talked about it on the show before about there's some friend group at Tampa like that they bring bring back to like the bar they like hand them out Yeah, it's worth a pack real quick.
28:21
[SPEAKER_00]: I'm like what?
28:23
[SPEAKER_00]: This one guy for a friend of Rich, he's got like, he bought some vending machine and these puttin' him in bars with packs, it's like, I'm sitting here being like, you know, I'm trying to get them to buy Pudgy Penguin, they look at me like, I'm crazy.
28:36
[SPEAKER_00]: Now Rolls reverse, they're all bringing packs to the bar and arrest rons, and I'm like, dude, you're 30, what are you doing?
28:43
[SPEAKER_01]: I missed the Pokemon trades man.
28:45
[SPEAKER_01]: I don't know anything about Pokemon except the price goes up and then I start to start to get interested and I like like sports cards and I just and I to reach their own I wish I just wish I got in on and earlier, but
28:58
[SPEAKER_01]: you know this is certainly interesting and I don't think the crazy is going anywhere you and this was kind of like the NFT world that I think can be very successful as well is that you open a package on your phone you pull a corresponding it connects to an actual physical card you keep that card vaulted or potentially add that physical card shipped to you
29:17
[SPEAKER_01]: Coinbase even hinted at an on-chain component.
29:21
[SPEAKER_01]: So there's a lot of unknowns here.
29:23
[SPEAKER_01]: We don't have pricing.
29:23
[SPEAKER_01]: We don't know exactly what a launch is.
29:25
[SPEAKER_01]: We don't know what blockchain they're using, I don't imagine it's base.
29:28
[SPEAKER_01]: And it's still haven't seen confirmation of official Pokemon licensing.
29:33
[SPEAKER_01]: But,
29:34
[SPEAKER_01]: This model, this real world collectible digital representation that less people trade and store digitally is the future.
29:44
[SPEAKER_01]: This is exactly where things are going to be going.
29:46
[SPEAKER_01]: I think we're going to be looking a few years from now.
29:50
[SPEAKER_01]: Just we've given this analogy when we talked about NFTs like with cards and top shot all the time like it's such a silly system when you buy like a card on eBay and they ship you the physical Is that what could get the physical and it could be real it might not be real or even the person who buys it could be like you sent me a fake one because they have a fake one There's just so many like areas where people could scam you out of it
30:16
[SPEAKER_01]: So it just makes sense to put this on chain haven't halted the ease of trading and opening and making the experience more and more fun.
30:25
[SPEAKER_01]: This is the future and it doesn't surprise me Coinbase is going going in on it just the biggest downside is that we could have just crushed it with the Pokemon man and we we we fumbled that ball.
30:36
[SPEAKER_00]: Yeah, I was at the tie conference with Eric Sversky, and he's been on the summits in the pod before.
30:43
[SPEAKER_00]: And he was telling, he's really into the Pokemon stuff, and he was building like a bot to buy and sell and trade.
30:49
[SPEAKER_00]: And then he was, the bot would go on eBay to try to find misprice cards, and then instead of sending it to him,
30:56
[SPEAKER_00]: He would have it sent to this apparently there's this company in Delaware, like a vault.
31:00
[SPEAKER_00]: You send it and they'll hold it for you and then list it for resale.
31:04
[SPEAKER_00]: So you're trying to get that delta and then you do it in Delaware because then it's tax-free.
31:07
[SPEAKER_00]: So you're buying and selling tax-free.
31:09
[SPEAKER_00]: So again, the future is coming with an trading card, so I'm sure I aren't going away.
31:16
[SPEAKER_00]: But yeah, you see, I guess NBA top shot, we had that run a couple cycles ago.
31:22
[SPEAKER_00]: And then that kind of faded, it's like it feels like that merge of, and I think that's what people want to, it's like a little bit of real and a little bit on chain.
31:29
[SPEAKER_00]: It's going to kind of merge, and that's the future for sure.
31:32
[SPEAKER_00]: And mean coins aren't going anywhere either.
31:35
[SPEAKER_00]: We saw, you know, Pudgy Penguin started to flap its wings, and a Pepe was moving.
31:39
[SPEAKER_00]: You guys have had some unbelievable calls and moments and money makers as Trump looks to host a third exclusive mean coin event.
31:49
[SPEAKER_00]: uh... you know these a couple of these looks like there's gonna be another uh... another dinner are you are you looking to attend
31:57
[SPEAKER_01]: I don't qualify for the top 185 registered investors because I don't hold much of any of the Trump meme going, but on November 22nd with the top 29 getting invited to a VIP recession, I think the interesting part here is that separate from whatever your politics are, we're continuing to see people experiment with what a meme coin can actually give you.
32:20
[SPEAKER_01]: That's access, that's events, it's experience, communities.
32:27
[SPEAKER_01]: uh, only utility is where the memes funny price goes up.
32:30
[SPEAKER_01]: Now we're seeing, you know, you can have dinner with the president of the United States or you hold a meme coin and you get a slow drip of a Nvidia stock, you hold a meme coin and you get a slow drip of Z cash or VVV.
32:43
[SPEAKER_01]: Things are changing, uh, meme coins aren't going anywhere.
32:46
[SPEAKER_01]: They're just evolving, but good old Donald Trump, man.
32:49
[SPEAKER_01]: Uh, you gotta give him credit that.
32:51
[SPEAKER_01]: You know, I thought he was going to dust everyone after that first dinner, but he just keeps coming to Coming to the coming to the table with another event of meme coin holders.
33:02
[SPEAKER_01]: I would like to know the top 85 top meme coin trump holders.
33:05
[SPEAKER_01]: I would like to see the list and exactly they're overall thesis there.
33:10
[SPEAKER_00]: Yeah, uh, you know, I think, um, he just loves, he just loves Trump.
33:15
[SPEAKER_00]: So he loves Trump.
33:16
[SPEAKER_00]: That's for sure.
33:17
[SPEAKER_00]: He loves Trump token.
33:18
[SPEAKER_00]: Uh, we got some pump fun news.
33:20
[SPEAKER_00]: We haven't talked about pump fun wild.
33:22
[SPEAKER_00]: I know that gets your gears going.
33:24
[SPEAKER_01]: Yeah, dude, because ulcer ulcer started to move a little bit here and pump continues to have one thing that tokens don't have and it's a ridiculous revenue engine behind them.
33:37
[SPEAKER_01]: Depending on exactly where you're looking at it, we're talking about over the last 24 hours, what's the tweet say, 2.6 million in revenue?
33:48
[SPEAKER_01]: I mean, this is getting absurd.
33:51
[SPEAKER_01]: That puts pump behind massive stable coin businesses like Tether and Circle and right near the top of actual tokenized crypto protocols and roughly 1.2 million over the last 24 hours is showing up as a whole revenue tied to pump bybacks.
34:07
[SPEAKER_01]: That's the part I always keep coming back to.
34:09
[SPEAKER_01]: You can debate meme points all day long.
34:12
[SPEAKER_01]: You love him, you hate him, but pump.fun isn't just a meme point narrative anymore.
34:16
[SPEAKER_01]: It's an actual business generating tens of millions of dollars in monthly revenue.
34:21
[SPEAKER_01]: A portion of that activity is buying back the token.
34:25
[SPEAKER_01]: As the meme point market continues to heat up, I think pump continues to be one of the more interesting ones in the entire sector.
34:31
[SPEAKER_01]: There's even other tokens we've talked about, like the stonk platform.
34:36
[SPEAKER_01]: That's how it's very share of ups and downs that is essentially pumped up fun on Solana, but you compare it with tokenized stocks or tokenized assets.
34:47
[SPEAKER_01]: I think it's going down a little bit, but there was a run last week where they were making it over a million dollars a day in revenue.
34:53
[SPEAKER_01]: So this is these picks and shovel plays when the market starts to heat up are really interesting pump.
35:00
[SPEAKER_01]: I mean, it's just silly amount of money.
35:02
[SPEAKER_01]: They're making more money than most coins in the entire crypto sector.
35:06
[SPEAKER_01]: So any pump holders out there hacks off and it's still a coin.
35:11
[SPEAKER_00]: I'm bullish on I like it and I like the, you know, just the storyline of pump how it's been.
35:19
[SPEAKER_00]: And the news are so long, and I remember that video that we broke down with Joe at one time that had that big announcement video, and it was just so trippy and well-produced.
35:29
[SPEAKER_00]: They got a fun team and a fun platform there, over at Pump Fun, just an absolutely awesome Friday rundown brine.
35:36
[SPEAKER_00]: Before I let you go, I'm going to put you on the spot.
35:39
[SPEAKER_00]: I need a pick.
35:40
[SPEAKER_00]: I need a gambling pick for the people, football's back.
35:44
[SPEAKER_00]: uh... clearly uh... were in full swing here and so i give you the first month to get read the board but now that's month two i need to i need an absolute winner i gave out in our group chat last week the nori stirunders for any of those that don't know uh... over under and footwork to be undered the nori stirunders because there's that big storm on the northeast oh i i used i used an a i model to gather all the games that are going to be affected by the weather and we took the under and all of them we don't
36:14
[SPEAKER_01]: What's the over-under in the Japanese Bengals game because that feels like that that's going to go to if you wanted a half right now.
36:25
[SPEAKER_01]: Oh, that half is a kill.
36:26
[SPEAKER_01]: I'd probably I mean, who it's very chalky and it's very gross because it's 51 and a half, but
36:35
[SPEAKER_01]: I was like, if I'm playing like daily fancy sports or I got fancy players, I'm putting every bangle and Jaguars I can go in.
36:43
[SPEAKER_01]: That's just just looking at the slate, I'm not even looking at the lines right now.
36:47
[SPEAKER_01]: I, you know, the pick I would have given, I'm a big Steelers fan.
36:50
[SPEAKER_01]: I would probably pick the Browns because the Steelers can't win in Cleveland ever, and they play horrible on Thursday night.
36:56
[SPEAKER_01]: So, I know.
36:57
[SPEAKER_01]: I know.
36:57
[SPEAKER_00]: I know on Thursday night, so in 10 nights.
37:00
[SPEAKER_01]: I didn't have the stones to pick on my I was sitting there.
37:03
[SPEAKER_01]: I did.
37:03
[SPEAKER_01]: I did.
37:05
[SPEAKER_01]: I was running on Aaron.
37:06
[SPEAKER_01]: You got it.
37:07
[SPEAKER_01]: You got it boy.
37:09
[SPEAKER_01]: My son's asking me why the stealers aren't any good.
37:12
[SPEAKER_01]: And I'm like, oh, you'd stop talking about that.
37:15
[SPEAKER_01]: But, uh, yeah, hey, what's the line in the Patriots bills game?
37:19
[SPEAKER_01]: I don't know.
37:20
[SPEAKER_00]: I was like, I think it's seven.
37:24
[SPEAKER_01]: And the people are down on the paths right now.
37:27
[SPEAKER_01]: They are on their high on the bills.
37:29
[SPEAKER_01]: That would be kind of the underdog play.
37:31
[SPEAKER_01]: I like the over in that game.
37:33
[SPEAKER_01]: But I'm trying to think a little outside of the box that that paths plus seven.
37:39
[SPEAKER_01]: If you can get the hook plus seven and a half would be really interesting to me because people are saying, I'm a great thing.
37:44
[SPEAKER_00]: I like that.
37:45
[SPEAKER_00]: That was on my list this week.
37:46
[SPEAKER_00]: I'm an underdog week, guys.
37:47
[SPEAKER_00]: It's a dog.
37:48
[SPEAKER_00]: The dogs are gonna run fast this week because you have a lot of things like you just said.
37:54
[SPEAKER_00]: Month one these teams are gonna win the Super Bowl that looks super hot.
37:57
[SPEAKER_00]: I would take the Patriots plus seven I like the C-Hawks Chargers They're crowning the C-Hawks again.
38:04
[SPEAKER_00]: The Chargers can't you know They're just trashing her bird so we're gonna take the plus seven on the Chargers something to prove there and then we got Dallas at the Texans
38:16
[SPEAKER_00]: minus three for the taxes plus three for the cowboys basically are the road is worth three points they're basically called that a pickham um... the cowboys have played well they just let it slip through their fingers recently i think i think the cowboys straight up plus one thirty it's basically a pickham game whoo whoo whoo whoo whoo whoo whoo whoo whoo whoo whoo whoo whoo whoo whoo whoo whoo whoo whoo whoo whoo whoo whoo whoo whoo whoo whoo whoo whoo whoo whoo whoo whoo whoo whoo whoo whoo whoo whoo whoo whoo whoo whoo whoo whoo whoo whoo whoo whoo whoo whoo whoo whoo whoo whoo whoo whoo whoo whoo whoo whoo whoo whoo whoo whoo whoo whoo whoo whoo whoo whoo whoo whoo whoo whoo whoo
38:40
[SPEAKER_01]: I kind of like that.
38:41
[SPEAKER_01]: I mean, they got Joey Porter Jr. now, too.
38:43
[SPEAKER_01]: They just stole him for pretty much nothing from the stealers.
38:47
[SPEAKER_01]: They're defensive so bad.
38:48
[SPEAKER_01]: But I think, I think Dax only felt like one interception or something.
38:53
[SPEAKER_01]: It's surprising that, you know, oh, I like that.
38:56
[SPEAKER_01]: Dallas, I like the underdog call for you, too.
38:58
[SPEAKER_01]: So we like the paths.
39:02
[SPEAKER_01]: You know, you know, you'll be getting to a little prop that a prop that I would like.
39:07
[SPEAKER_01]: I'm going back to the well of the Patriots Buffalo game is I kind of like Josh Allen over that 30 yards rushing.
39:15
[SPEAKER_01]: He's been early in the season.
39:17
[SPEAKER_01]: He's running the ball a little bit.
39:18
[SPEAKER_01]: I think that game's going to be really competitive at least until they'll be down and he'll be scrambled in for yards.
39:24
[SPEAKER_01]: I'm going to probably hammer that right now.
39:26
[SPEAKER_01]: There you go.
39:29
[SPEAKER_00]: Yeah, like I like the I like the points this week because the points feel good all over the board everywhere But that's all we'll keep tracking those.
39:35
[SPEAKER_00]: We'll come back next Friday Maybe report back on how we did and give some more picks at the end of the show on Fridays because it's fun We like to do it.
39:42
[SPEAKER_00]: Hopefully guys enjoy.
39:43
[SPEAKER_00]: Thank you guys so much for listening.
39:44
[SPEAKER_00]: I hope you have a great weekend Again one last call to check the links below if you're on YouTube give us a like sorry for the technical difficulties and we'll see you next week But that's all for now everybody