Latest / CRYPTO 101 / Crypto Rundown: Ethereum Facts You Need to Know, Solana Update, & JP Morgan Loves Bitcoin?!

Transcript

Crypto Rundown: Ethereum Facts You Need to Know, Solana Update, & JP Morgan Loves Bitcoin?! · CRYPTO 101

0:08
[SPEAKER_00]: Alright everyone, welcome back to another episode of the Crypto Run Down, where we talk about everything that's going on in the great world of cryptocurrency and blockchain technology.
0:19
[SPEAKER_00]: From the fundamentals and the news to the technicals on the charts, we spend the time doing hours of research so that you all don't have to.
0:26
[SPEAKER_00]: And welcome to our first
0:28
[SPEAKER_00]: by weekly episode.
0:31
[SPEAKER_00]: Now this is a little bit of a shift and as we said on Monday, we're going to be doing these two times a week now.
0:36
[SPEAKER_00]: We saw what all of you as the audience had been saying and also we realized that a lot of the information that we were talking about was very time sensitive.
0:44
[SPEAKER_00]: So we said, well,
0:45
[SPEAKER_00]: How can we pump out more content and make it more time sensitive?
0:48
[SPEAKER_00]: And that was by doing two episodes a week starting at Monday and on Thursday.
0:53
[SPEAKER_00]: So make sure you stick around.
0:55
[SPEAKER_00]: We had a lot of content to come.
0:56
[SPEAKER_00]: We have all sorts of new tutorials, podcasts, market updates, all coming your way as well.
1:02
[SPEAKER_00]: And of course, we bring it all to you completely for free.
1:05
[SPEAKER_00]: Tevo, it's going to be another action-packed episode.
1:09
[SPEAKER_00]: The list is ever growing of things that we have to talk about, but believe it or not, I think the list that we have here today for our Thursday episode is probably more important and more impactful than a lot of the stuff that we talked about on Monday.
1:23
[SPEAKER_01]: Yeah, man.
1:24
[SPEAKER_01]: It's going to be fun.
1:26
[SPEAKER_01]: I'm glad that the listeners won it.
1:28
[SPEAKER_01]: We had a couple of comments.
1:30
[SPEAKER_01]: There's a Spotify comment from, I don't want to butcher this word, but
1:35
[SPEAKER_01]: Kaya Kaya I believe is how you might try to pronounce it.
1:38
[SPEAKER_01]: I'm sorry if I butcher it, but she said she's loving the podcast appreciating all the hard work doing more episodes keeping us updated.
1:44
[SPEAKER_01]: So that's always fun.
1:45
[SPEAKER_01]: I know I saw we got fits in the chat already was waiting for us.
1:49
[SPEAKER_01]: So the momentum is building and there's a lot to talk about.
1:52
[SPEAKER_01]: We even did I put out an episode with Brian and Joe yesterday.
1:55
[SPEAKER_01]: They're going to be coming back a lot more.
1:58
[SPEAKER_01]: Possibly weekly as well on Wednesdays and that episode we didn't even we had some things that I pushed to save for us to talk about today But we still went I went for a forty forty five minutes with them yesterday and covered all this fun stuff on the meme coin market in the barbecue ecosystem and the wrecked drink the flywheel a type of I guess economy that that they're building and wrecked we got off the pod we were laughing wrecked it in all-time high
2:26
[SPEAKER_01]: obviously the Hengu Mark which is going crazy and we have a pump fun update.
2:30
[SPEAKER_01]: So if you haven't listened to that check out the Mean Coin Mania episode before this one and dive into that because it was forty five minutes of unique you know in the trenches type content and then literally what forty eight hours fifty hours later mean you were back again with another full sheet of stuff to talk about.
2:47
[SPEAKER_01]: It's it's just exciting times and
2:49
[SPEAKER_01]: a shout out to you, I know you're dealing with some stuff and some pain, but you know, friends here, he's not going to let a little pain stop him from being here with us.
2:58
[SPEAKER_01]: And I myself was, you know, had a doctor appointment this morning, but we julled it around and we're here and we're pushing forward.
3:06
[SPEAKER_00]: Yeah.
3:06
[SPEAKER_00]: You know, we're here to serve the community.
3:08
[SPEAKER_00]: And we always like the cake things off by just giving a high level overview of everything that we're going to talk about and everything that's going on.
3:15
[SPEAKER_00]: So at a high level of what we're going to be talking about today, well, number one, we saw a little bit of a pullback here in the crypto market.
3:21
[SPEAKER_00]: I know altcoins were down around ten percent across the board.
3:25
[SPEAKER_00]: Yes, today, July, twenty, twenty, twenty, five.
3:28
[SPEAKER_00]: And today we're seeing actually quite a big rebound back to the upside.
3:32
[SPEAKER_00]: So not only do we have a lot of these cryptos rebounding off of like their first real retracement since that big move to the upside.
3:40
[SPEAKER_00]: We also have a lot of big things on the fundamental side.
3:42
[SPEAKER_00]: I mean, for starters, JP Morgan is now considering offering loans that are backed by crypto, such as Bitcoin and Ethereum.
3:49
[SPEAKER_00]: If P and C bank is set to bring Bitcoin to their twelve million customers, wisdom tree is set to launch their WUSD stablecoin, primarily on the Ethereum network.
4:01
[SPEAKER_00]: The FBI has dropped their investigation into Kraken's founder, Powell, not to be mixed with Jay Powell, different Powell.
4:11
[SPEAKER_00]: But on top of that, what we have is that the SEC has also just approved the conversion of the Bitwise Ten Crypto Index.
4:19
[SPEAKER_00]: This is an index that includes Bitcoin, Ethereum, XRP, Solana, Cardano, Sui, Avax, Litecoin, Polkadot.
4:26
[SPEAKER_00]: And it is like, really like one of the first of its kinds, gray scale had something like this happen.
4:31
[SPEAKER_00]: We're going to talk more about that because it looks like it's going to be the start of a lot of ETF approvals for the altcoin market, following in that same theme, twenty-one shares files for an on-to-ETF, canary capital files for an injective ETF.
4:45
[SPEAKER_00]: Coinbase adds perpetual futures contracts up the TANX leverage to their platform, which has been strictly banned for like the bulk for the entirety of Coinbase's history.
4:57
[SPEAKER_00]: You'd always have to go to like an offshores exchange to get that kind of stuff.
5:02
[SPEAKER_00]: There was a report that there's no eighth available for sale on the winter mute OTC.
5:08
[SPEAKER_00]: And now seeing readings though that this is not the case.
5:11
[SPEAKER_00]: It's just like someone got a little bit, someone got too much caffeine in their system and got a little too excited.
5:17
[SPEAKER_00]: We're going to do some more diving into there because
5:20
[SPEAKER_00]: There's some clarification.
5:21
[SPEAKER_00]: Solana has a big upgrade coming its way.
5:23
[SPEAKER_00]: It's going to improve scalability.
5:25
[SPEAKER_00]: And overall, the US government is coming out with a big crypto update talking about their holdings.
5:30
[SPEAKER_00]: And there's a big update on that from what we last talked about.
5:33
[SPEAKER_00]: So it's an action-packed list.
5:35
[SPEAKER_00]: We can start things off right from the top with what's happening on the
5:40
[SPEAKER_00]: with what's happening just on the charts first I think that's probably the best way to do it.
5:45
[SPEAKER_00]: So if we just go ahead and we throw up the charts here and we look at what's happening with like Bitcoin for example, then what we can see is you know we're right back at around a hundred and nineteen hundred and twenty thousand and if you're watching on apple podcasts or Spotify or anywhere else
6:05
[SPEAKER_00]: And you want to see the screens and the data and the charts and the articles, you gotta go over to our YouTube channel.
6:11
[SPEAKER_00]: It's the crypto one-on-one podcast on YouTube.
6:13
[SPEAKER_00]: Check us out over there.
6:14
[SPEAKER_00]: Again, it's all completely for free.
6:17
[SPEAKER_00]: But if we look at this and we see what's happening here with Bitcoin, this is that retracement that I was talking about, where we open this, sorry, that wasn't it.
6:25
[SPEAKER_00]: This is it.
6:26
[SPEAKER_00]: where we were going up to a hundred and twenty three thousand dollars, then we were coming back down here kind of bleeding over the last week or so to around a hundred and sixteen k which is where we found support.
6:39
[SPEAKER_00]: And now we're bouncing off of this twenty-day moving average of this blue line here and we're seeing the buyers come back in.
6:45
[SPEAKER_00]: So what I think we're really starting to see here is a little bit of higher lows, lower highs.
6:50
[SPEAKER_00]: And when we get something like this, this is what we call a penant.
6:54
[SPEAKER_00]: So when we get a penit after a move to the upside, we classify this as a bull flag.
7:00
[SPEAKER_00]: And at least for me, when I'm seeing a bull pull, bull flag combination like this, it typically indicates that prices are consolidating before continuing to the upside.
7:12
[SPEAKER_00]: And a measured move from here would probably bring us up to the upper one, twenties.
7:16
[SPEAKER_00]: And we probably see a push for the low one, thirties.
7:21
[SPEAKER_00]: So I'm looking at this saying a Bitcoin looks pretty bullish.
7:24
[SPEAKER_00]: It looks pretty optimistic so far.
7:26
[SPEAKER_00]: Now, if something changes and we get some article out of left field, I think that we can look at Bitcoin and say, what does have a little bit of room to the downside?
7:34
[SPEAKER_00]: Probably around its previous all-time highs in here near that fifty-day moving average.
7:40
[SPEAKER_00]: I think that makes a little bit more sense around a hundred and eleven thousand dollars roughly speaking.
7:46
[SPEAKER_00]: For now, the bulls are still very much in control of the market.
7:49
[SPEAKER_00]: The bulls look strong.
7:50
[SPEAKER_00]: There's a lot of technical and fundamental news going around over there.
7:57
[SPEAKER_00]: Ethereum.
8:00
[SPEAKER_00]: Looking strong as well, it's been consolidating for a shorter amount of time than Bitcoin, but getting bought up pretty aggressively.
8:07
[SPEAKER_00]: Today it's back up to around thirty seven hundred.
8:10
[SPEAKER_00]: It even made a push for almost thirty eight hundred again.
8:12
[SPEAKER_00]: And so the buyers are very comfortable accumulating this at around thirty five hundred bucks.
8:17
[SPEAKER_00]: That's what we've seen so far.
8:20
[SPEAKER_00]: We talked about this to you.
8:21
[SPEAKER_00]: I know me and you did.
8:22
[SPEAKER_00]: I can't remember if we brought it up in the Monday call or not.
8:26
[SPEAKER_00]: But one of the big things that stood out to me here was that Ethereum has a massive resistance area in between thirty eight hundred to four k we've seen it come up here and then retrace thirty percent and then come up here and retrace forty five percent and then come up here and retrace I think this was sixty five percent.
8:46
[SPEAKER_00]: And so if these big hefty moves every time it comes up to this area, and that's exactly where we are floating at right now.
8:55
[SPEAKER_00]: We're seeing a little bit of resistance.
8:57
[SPEAKER_00]: I'm watching this very carefully.
9:00
[SPEAKER_00]: I think that the most bullish case scenario for Ethereum is if it just destroys this level.
9:06
[SPEAKER_00]: If it just tears through what is arguably its biggest resistance level on the chart, if it breaks this with no hesitation, then you have to be so bold up on where Ethereum is at, because I'd be just like a super disrespectful thing to just slap all the bears in the face.
9:22
[SPEAKER_00]: And I think from there, it would go into all time high.
9:24
[SPEAKER_00]: So huge key level to watch out for on here.
9:27
[SPEAKER_00]: Um, but yeah, I know we both been following East TV.
9:31
[SPEAKER_00]: I mean, and he thought for him, you on this.
9:35
[SPEAKER_01]: Yeah, is it just one giant bull flag there over, yeah, whatever year of year.
9:40
[SPEAKER_01]: Basically, it's just a breakout.
9:44
[SPEAKER_01]: Uh, that would be interesting.
9:45
[SPEAKER_01]: Yeah, I think, um,
9:48
[SPEAKER_01]: Yeah, the only thoughts around it is I think we were riding, you know, those other peaks, you know, you go back in the history of when it was back when we broke all time highs March, twenty four and then obviously again there in June and then again around the election when things were hot, but that was just general crypto excitement, especially the first there in the middle with the
10:11
[SPEAKER_01]: You know, the new all time highs and March of twenty four, plus then the election cycles, okay, crypto is going to the moon with with the new administration.
10:20
[SPEAKER_01]: Something, you know, everybody likes to say this times different, right?
10:23
[SPEAKER_01]: That's always a fun phrase to throw out there, especially I think it's kind of made fun of a lot.
10:28
[SPEAKER_01]: But you haven't had this narrative.
10:29
[SPEAKER_01]: Like you haven't had Wall Street bulls.
10:32
[SPEAKER_01]: It's kind of reminiscent to when they coin ETF got launched.
10:36
[SPEAKER_01]: It just felt like it felt different.
10:38
[SPEAKER_01]: And that move kind of seemed to be true to where we are today.
10:41
[SPEAKER_01]: And again, it would be great if it was just a straight line over the course of the next two to three weeks.
10:47
[SPEAKER_01]: But we kind of just had that right over the last six to eight weeks.
10:50
[SPEAKER_01]: So even if you take a pause, I guess what we like to say zoom out, zoom out and
10:56
[SPEAKER_01]: I don't know, yeah, not personal financial advice by any means, but something feels different about this ethereum narrative.
11:01
[SPEAKER_01]: We have some stats coming up that we will, we'll break down.
11:06
[SPEAKER_01]: Or maybe we can just transition them into them actually right now is kind of these ethereum stats here.
11:12
[SPEAKER_01]: I'll I'll take over, Brendan.
11:13
[SPEAKER_01]: So anyway, I'm keep moving is Ethereum ETFs are starting to set their own records, not really passing Bitcoin per se.
11:23
[SPEAKER_01]: But it's a crypto takeover.
11:25
[SPEAKER_01]: So the Ethereum ETF becomes the third fastest ETF to hit ten billion in assets.
11:31
[SPEAKER_01]: The third, the three fastest ETFs to hit ten billion now are all spot crypto ETFs.
11:38
[SPEAKER_01]: So it's kind of making its move here.
11:41
[SPEAKER_01]: And just to show you, I had one more from a friend of the program Matt Hogan here.
11:46
[SPEAKER_01]: And just to show you how fast this is July, twenty fourth to June, twenty fifth.
11:51
[SPEAKER_01]: I'm sorry to June, July, twenty twenty four to June twenty twenty five basically one year four point two billion dollars of inflows and then July twenty twenty five alone four point four billion so in July twenty twenty five we're not even done the month right and we still got a week left
12:10
[SPEAKER_01]: We've outpaced the entire Ethereum ETF flows for the entire last year.
12:16
[SPEAKER_01]: So kind of back to my overarching point, it's not really a fundamental case for Ethereum.
12:22
[SPEAKER_01]: It's definitely not a technical analysis case at all.
12:25
[SPEAKER_01]: I leave that to you.
12:26
[SPEAKER_01]: But there's something feels different with the narrative.
12:30
[SPEAKER_01]: You know, you got Tom Lee all bold up.
12:33
[SPEAKER_01]: Like Tom Lee's a very well-respected voice on Wall Street.
12:37
[SPEAKER_01]: who now is a chairman of an Ethereum Treasury company.
12:41
[SPEAKER_01]: You definitely had all these little Ethereum, not little, but, you know, the Ethereum Treasury company started popping off.
12:45
[SPEAKER_01]: We were, I know we rode one last week.
12:47
[SPEAKER_01]: Me and Brian did like the LQRs like some liquor company that, you know, everybody just started saying they were a Treasury company in crypto and their stocks started going up.
12:55
[SPEAKER_01]: So you got to be careful with those fourths.
12:58
[SPEAKER_01]: But the narrative around Ethereum
13:01
[SPEAKER_01]: And kind of as Tom Lee said, the stable coins had their chat GPT moment and the stable coins are being built on Ethereum and Slon as well.
13:11
[SPEAKER_01]: But a lot of big companies are choosing to build on Ethereum.
13:14
[SPEAKER_01]: Obviously Robinhood kind of kicked it off with their tokenization platform built on top of Arbitrum, which is built on top of Ethereum.
13:21
[SPEAKER_01]: So that's my fundamental case for Ethereum is just it feels like the narrative has changed.
13:28
[SPEAKER_01]: What do you think?
13:30
[SPEAKER_00]: Yeah, I think the narrative is certainly changing because you look back to the end of last year in the start of this year.
13:37
[SPEAKER_00]: And we were saying the opposite.
13:38
[SPEAKER_00]: We were saying everyone's using Solana and they were people weren't using Ethereum as much.
13:43
[SPEAKER_00]: Solana had overtaken Ethereum in terms of activity and active addresses and wallets and like a lot of the key metrics that we would measure success from.
13:51
[SPEAKER_00]: Now that started the fall apart as there was more rug pulls and pumped off.
13:56
[SPEAKER_00]: Fund started to fade and all of in the market started the pull back with the tear of news and people were less concerned with doing meme coins and stuff like that.
14:04
[SPEAKER_00]: And then we started to see the the activity on Solana fade.
14:09
[SPEAKER_00]: And as we have a crash like that, people typically start to go back to the fundamentals, right?
14:14
[SPEAKER_00]: They don't go to the extremely risky meme coin, rock pulley kind of things, which are a great time, right?
14:20
[SPEAKER_00]: They're a great time and some of them turn out really well, but for everyone this exceeds like a thousand plus don't.
14:26
[SPEAKER_00]: And so at times of a crisis where the whole US economy is seeing like a twenty thirty plus percent pullback and everyone's scared that it's going to be some great depression like event, which is what people were concerned about in the moment.
14:42
[SPEAKER_00]: At times like that, you really do go back to the fundamentals and people came back to Ethereum at that moment and they started building especially as more and more legislation was being passed.
14:52
[SPEAKER_00]: And so I have a cool screenshot here that just goes and shows everyone that is building on Ethereum or everyone pretty much of significance here recently that is building on Ethereum.
15:03
[SPEAKER_00]: So let me throw this up on the screen real fast.
15:05
[SPEAKER_00]: And we can take a look at it, but you can see that there's Robin Hood, JP Morgan's stripe, PayPal, Black Rock, Sony, Visa, Fidelity, Starbucks, Nike, Adidas, MasterCard, Reddit, Ernst and Young, Shopify, and the list goes on.
15:21
[SPEAKER_00]: And we have a whole lot more that we can talk about.
15:23
[SPEAKER_00]: And on top of this, what we're also seeing is that a lot of these banks are starting to get in on the crypto market.
15:31
[SPEAKER_00]: And they're starting to go and
15:34
[SPEAKER_00]: just like file for stable coins.
15:38
[SPEAKER_00]: And that's where the really big pushes right now is that all these banks want to come in and they want to start stable coins.
15:45
[SPEAKER_00]: So I can't show this on the screen because I'm going to be talking about it on a on a speech here in a couple of hours.
15:52
[SPEAKER_00]: So I can't reveal it quite yet, but I do want to reveal just a metric that I pulled from it.
15:56
[SPEAKER_00]: And it shows
15:58
[SPEAKER_00]: uh, just how many banks are already filing and looking in the stablecoins.
16:02
[SPEAKER_00]: So you have Uber, you have Amazon, you have Doysha Bank, Bank of America, City Group, Fidelity, JP Morgan, and these are all companies that have said companies or financial institutions that have said, we are looking in the stablecoins if not already applied for them.
16:17
[SPEAKER_00]: And we had a really cool article, um, in here from Wisdom Tree, who I don't even think we mentioned, but they're also doing the same thing.
16:26
[SPEAKER_00]: So, you know,
16:28
[SPEAKER_00]: Yeah, I mean, just across the board here, mass adoption.
16:32
[SPEAKER_00]: And if we go back, yeah, Tevo has it on the screen right now.
16:35
[SPEAKER_00]: Wisdom tree set the launch of their WUSD stablecoin.
16:39
[SPEAKER_00]: The attention really is on Ethereum.
16:42
[SPEAKER_00]: And things ship in the market's dynamic and it's fluid and it changes.
16:46
[SPEAKER_00]: And we're seeing this really big shift back to Ethereum.
16:49
[SPEAKER_00]: And now there's all these different treasury companies and everything else.
16:53
[SPEAKER_00]: And this does feel like the chat GPT moment where everyone's coming out with stuff, or a lot of them haven't even launched yet.
17:00
[SPEAKER_00]: They're just saying we're going to come out with this.
17:01
[SPEAKER_00]: We're going to do this.
17:03
[SPEAKER_00]: And this is the chat GPT moment where it launches and then afterwards, this surges demand for processors and graphic units and all of Nvidia's products.
17:16
[SPEAKER_00]: So at the time, like Nvidia really didn't react much to chat GPT coming out, but
17:22
[SPEAKER_00]: You know, in the years following that, there is massive, uh, just flows, a massive demand for Nvidia because of the effects that chatGPT and AI had.
17:32
[SPEAKER_00]: And what I think Tom Lee a lot of other people are saying here is that all these companies using Ethereum, all these companies creating stablecoins, all these companies tokenizing, that is going to create the chatGPT like moment that had an effect on Nvidia, but it's going to be the
17:49
[SPEAKER_00]: stable, clean, and tokenization moment that impacts Ethereum likely in the months and years to come.
17:58
[SPEAKER_01]: Yeah, I couldn't agree more, and I think it showcases what I just pulled up on the screen.
18:02
[SPEAKER_01]: Secondary is like, I don't really necessarily this tweet.
18:05
[SPEAKER_01]: You know, Nestle had the metrics for the OTC sales on winter mute, so I'm not going to talk about that as much as these treasury companies, S-Bet raising five billion to buy E-Bitmine, raising two billion to buy E-ether machine, raising one point six billion to buy E-F.
18:19
[SPEAKER_01]: And some of these companies are going directly to the Ethereum foundation and buying Ethereum straight from them.
18:25
[SPEAKER_01]: And, you know, this is all during the course of these last couple weeks where you've seen this massive rise in price.
18:30
[SPEAKER_01]: So they're buying directly, you know, either of these OTC deaths are going to the Ethereum foundation to make these purchases meanwhile, you know, retails getting in the narratives there.
18:41
[SPEAKER_01]: These ETFs are setting records.
18:43
[SPEAKER_01]: It's just, it's purely supply and demand driving this price up.
18:47
[SPEAKER_01]: You know, it's the same thing as Bitcoin.
18:49
[SPEAKER_01]: Obviously, it's applied for Ethereum is different than Bitcoin.
18:52
[SPEAKER_01]: So you'd have to go and, you know, take that into account as well.
18:55
[SPEAKER_01]: But the narrative's here.
18:56
[SPEAKER_01]: And again, if you zoom out, I don't think this is something, you know, when these guys timely and these people come in, these are season investors that have been around for decades, right?
19:07
[SPEAKER_01]: So you don't come in with a new thesis like this.
19:10
[SPEAKER_01]: Number one, they didn't just decide to do this two weeks ago, our four weeks ago and Ethereum rose twenty percent of the twenty five percent off the bottom, right?
19:17
[SPEAKER_01]: This is stuff that they've been researching for years and planning probably for years to get the right disclosures and paperwork done.
19:24
[SPEAKER_01]: So this isn't something this narrative as much as it is new.
19:29
[SPEAKER_01]: I think because it's embedded in this kind of traditional, trad-fi ecosystem, I don't think it's going away any time soon.
19:38
[SPEAKER_01]: So I think we could be here at the end of the year seeing Ethereum at higher prices, which a lot of people are saying and giving higher price targets at that.
19:47
[SPEAKER_01]: you know, all time high level or even up to, you know, we've played the clips of Tom saying, ten, ten, K.E., this possible.
19:53
[SPEAKER_01]: So the excitement, the excitement's there, the narrative's there and I don't think it's, I don't think it's something that disappears overnight.
20:00
[SPEAKER_00]: Yeah, I agree, man.
20:03
[SPEAKER_00]: I don't think it's going away overnight.
20:05
[SPEAKER_00]: And Monday's episode, you know, we talked about a little bit just like the markets are gonna go up and down.
20:10
[SPEAKER_00]: It's a natural part.
20:11
[SPEAKER_00]: Eventually we are gonna reach resistances and we're gonna pull back, but I don't think that that's the end of the road.
20:17
[SPEAKER_00]: And that's like the big point that I want to make here is that there's so much infrastructure and stuff getting set up.
20:23
[SPEAKER_00]: And that I'm probably going to be the most eager to buy the dip when things are selling off aggressively because as we do pull back, like clearly the infrastructure is getting lead.
20:34
[SPEAKER_00]: I mean, that metric that you share Tvo of saying that there's been more in flows into the Ethereum ETFs in the last month than the last year combined.
20:43
[SPEAKER_00]: is a ridiculous sign that like, man, these things are just heating up from where they were.
20:49
[SPEAKER_00]: And there's also, imagine if we have, imagine if we keep that same relative level of inflows per year, right?
20:57
[SPEAKER_00]: Imagine we do everything that we did in a year, we do that in a month.
21:01
[SPEAKER_00]: Now imagine we have eleven more of those months.
21:03
[SPEAKER_00]: Like, what would that look like for Ethereum?
21:06
[SPEAKER_00]: And then if you think about it that way, like, again, maybe we don't have it like that.
21:09
[SPEAKER_00]: There's gonna be some red months here and there.
21:11
[SPEAKER_00]: But even if like a quarter or like two quarters of the next months or like that, you probably imagine new all-time highs for Ethereum and for a lot of the other altcoin market as well.
21:22
[SPEAKER_00]: Because that's what we've seen is just Bitcoin dominance in a free fall.
21:27
[SPEAKER_00]: And this will be my last point on the charts and then we'll move on from here.
21:32
[SPEAKER_00]: Bitcoin dominance has been in an absolute freefall from sixty-six percent down to around sixty percent.
21:39
[SPEAKER_00]: So now it's back up to around sixty-two percent, but when Bitcoin dominance falls like this and Ethereum is gaining strength like we've seen on the ETHBTC chart,
21:49
[SPEAKER_00]: This is the perfect moment for altcoins and historically we see Bitcoin dominance come up to around seventy percent right we see this every single altcoin cycle every four years this happens and then it crashes and then it rises and then it crashes and then it crashes and then it crashes
22:06
[SPEAKER_00]: We are right here.
22:08
[SPEAKER_00]: Historically, we crash around or below forty percent.
22:11
[SPEAKER_00]: So that would say that like the bulk of the move isn't even happened yet or hasn't even happened yet.
22:16
[SPEAKER_00]: So I'm looking at this.
22:17
[SPEAKER_00]: I'm excited about Bitcoin.
22:19
[SPEAKER_00]: I'm also really, really excited about altcoins because I think that they have been undervalued relative to where Bitcoin has been at and they could be getting ready for their real revenge arc.
22:30
[SPEAKER_00]: So
22:31
[SPEAKER_00]: I don't want to spend too much time on the charts, but yeah, I mean, listen, huge potential everywhere.
22:34
[SPEAKER_00]: You look at XRP hitting new all-time highs.
22:37
[SPEAKER_00]: You look at like the run that you'll or had in the run that syrup had and the run that like Pangu is had, which I have somewhere here on the chart.
22:45
[SPEAKER_00]: Here it is.
22:46
[SPEAKER_00]: I mean, the run Pangu is had is just
22:49
[SPEAKER_00]: How do you describe this?
22:50
[SPEAKER_00]: I mean, how it's a thousand percent move since April.
22:54
[SPEAKER_00]: It's unwirledly.
22:56
[SPEAKER_00]: And then you can look at like, bonken hyper liquid and spark and like, I mean, there's everything's running here.
23:02
[SPEAKER_00]: You know, SPX, XC, nine hundred, like things are on fire.
23:06
[SPEAKER_00]: And yeah, I mean, what a time to be alive.
23:09
[SPEAKER_00]: So, anyway.
23:12
[SPEAKER_00]: I'm calling it off.
23:12
[SPEAKER_00]: You're getting a little bit overhyped, but I'll pass it back to you.
23:15
[SPEAKER_01]: Please, please don't.
23:16
[SPEAKER_01]: I mean, those are all stuff that, you know, I get and you can't hit every single one, but there's a lot of those that you just mentioned that we either interviewed or brought out on for interviews on the show or me and you have talked about them or Brian and Joe have come on and talked about them.
23:31
[SPEAKER_01]: I basically this is a this this podcast is you know mentions pen do every week at this point are closed every episode and you know that's because we're excited about it and it's good to get those calls and if you know if you stuck with us, you know that's the type of alpha that we're dishing out here, but yet it's not just it's not just Ethereum you mentioned this at the top of the show and we we have to circle back on it about
23:54
[SPEAKER_01]: you know, JP Morgan considering offering loans backed by crypto with big coin or possibly Ethereum potentially starting next year.
24:03
[SPEAKER_01]: I mean, we've joked about this.
24:06
[SPEAKER_01]: We've joked about this about how, you know, do do is they, you know, watch what they do not what they say type of mentality especially with the big banks and do just it's so funny.
24:18
[SPEAKER_01]: And I get it.
24:19
[SPEAKER_01]: I totally understand.
24:20
[SPEAKER_01]: You know, JP Morgan's such a big bank.
24:22
[SPEAKER_01]: I mean, it's so many different divisions.
24:23
[SPEAKER_01]: So there's different people working on different things.
24:25
[SPEAKER_01]: But just to absolute parade around for the last five years or decade, you know, Jamie Diamond just anti anti anti Bitcoin.
24:33
[SPEAKER_01]: Never even the thing is is like Larry think is evolved.
24:36
[SPEAKER_01]: And obviously now has the Bitcoin ETF.
24:38
[SPEAKER_01]: So it's a product that he's going to promote.
24:40
[SPEAKER_01]: It's not even just change your stance a little bit on Bitcoin.
24:43
[SPEAKER_01]: Jamie Diamond and then start offering, you know, Bitcoin back to loans would be
24:48
[SPEAKER_01]: Or is very funny if this is something that's true.
24:51
[SPEAKER_01]: And yeah, no, go ahead, dive in.
24:54
[SPEAKER_00]: He realizes he's missing out on so much money.
24:57
[SPEAKER_00]: Again, going back to some of the metrics that we talked about about doing in all of last year's volume or inflows in a single month, like he realizes now that their bank is losing out on so much money and such an opportunity.
25:13
[SPEAKER_00]: And I think it's eating him alive because historically he's been on top of all this stuff.
25:18
[SPEAKER_00]: He's super smart.
25:19
[SPEAKER_00]: He typically makes the right business decisions.
25:21
[SPEAKER_00]: JP Morgan Chase is like wildly successful.
25:25
[SPEAKER_00]: And usually he is at the forefront of any new ideas and staying on top of things.
25:31
[SPEAKER_00]: And I think that it's eating him alive that he missed out on an opportunity like this.
25:36
[SPEAKER_00]: And that he was so wrong about it.
25:38
[SPEAKER_00]: So not only was it like probably a little bit of a hit to his ego, but I think on top of this, he realized how much money the bank has probably lost by not getting in his early as a lot of these other players are.
25:49
[SPEAKER_00]: And so I think that's what this is now as them being like, we got to make up for lost time.
25:54
[SPEAKER_00]: Like let's let's shift gears here, regardless of what he thinks.
25:58
[SPEAKER_00]: And that's why we're starting to see this.
26:02
[SPEAKER_01]: Yeah, and then they're, they're not the only ones.
26:05
[SPEAKER_01]: Yeah, let's see, share the savage.
26:07
[SPEAKER_01]: Schwab.
26:08
[SPEAKER_01]: Yeah, and the people going stablecoins, and then we got a PNC bank.
26:13
[SPEAKER_01]: Again, PNC bank is is a bigger bank, obviously, but it's not the JP Morgan's Goldman Sachs.
26:19
[SPEAKER_01]: It's more of a regional vibe, like a local bank that you're going to go get your
26:23
[SPEAKER_01]: your local town has, you can go in and get a personal bank or a mortgage or a personal checking account.
26:30
[SPEAKER_01]: And you know, they're bringing Bitcoin and crypto to its twelve million customers.
26:34
[SPEAKER_01]: The waterfall has started here.
26:38
[SPEAKER_01]: And yeah, again, it's one of those things.
26:40
[SPEAKER_01]: This is a narrative that once this stuff starts moving, in my opinion, it's not something that's not like a light switch.
26:47
[SPEAKER_01]: You don't flip it off.
26:48
[SPEAKER_01]: Once this gets flipped on, it's staying.
26:50
[SPEAKER_01]: It has staying power.
26:53
[SPEAKER_00]: It does, man, and here's the deal.
26:55
[SPEAKER_00]: You know, this is twelve million new customers can come to Bitcoin from PNC.
27:00
[SPEAKER_00]: Like we are seeing them come in, not by the thousands, not by the hundreds of thousands, not by the millions, but by the tens of millions, hundreds of millions.
27:08
[SPEAKER_00]: Like that's the rate of adoption that we're at here.
27:11
[SPEAKER_00]: You know, you look at Tradfile, you look at anywhere, everything.
27:15
[SPEAKER_00]: And there is just mass adoption coming in.
27:17
[SPEAKER_00]: And so again, listen, we're biased.
27:20
[SPEAKER_00]: We know it, right?
27:21
[SPEAKER_00]: We like the crypto markets or channels literally called crypto one-on-one.
27:25
[SPEAKER_00]: But you can look at this unbiously and say, well, hmm, you know, clearly something is happening here.
27:31
[SPEAKER_00]: Clearly there is adoption.
27:33
[SPEAKER_00]: Like there's only two sectors in my opinion that are seeing this level of extravagant adoption and attention.
27:39
[SPEAKER_00]: And it's like AI and crypto.
27:41
[SPEAKER_00]: And there's a reason that the ZAR in the United States is under both AI and crypto, right?
27:46
[SPEAKER_00]: He has a dual title.
27:48
[SPEAKER_00]: And that's because this is where the future is at.
27:50
[SPEAKER_00]: Trump even had this.
27:51
[SPEAKER_00]: He had a video that went out and he even said like, this might be the most revolutionary thing that we've had since like the dot com or the internet or something like that.
28:01
[SPEAKER_00]: Have you seen that clip circulating around?
28:03
[SPEAKER_00]: Tvo?
28:04
[SPEAKER_01]: No, I haven't.
28:06
[SPEAKER_01]: Was well as the thought is another point.
28:08
[SPEAKER_00]: Yeah, I mean, yes, see if you can look it up real fast.
28:12
[SPEAKER_00]: But David Sachs?
28:14
[SPEAKER_00]: No, it was Trump.
28:15
[SPEAKER_00]: It was Trump saying like this is going to this could very well be like one of the most revolutionary pieces of technology and ideas and industries since the internet.
28:28
[SPEAKER_00]: And he just talks about how it's set to like revolutionize the financial industry.
28:31
[SPEAKER_00]: And this is coming from from like the president of the US.
28:35
[SPEAKER_00]: And so it's not just us on YouTube talking about this.
28:39
[SPEAKER_00]: It's a big deal.
28:40
[SPEAKER_00]: And so when you have the world's largest asset manager saying that, when you have the president of the United States saying that, when you have all these big banks getting in on it, like listen, we don't believe in creating the waves.
28:52
[SPEAKER_00]: Like at this point, just ride the waves that are already being created by the government.
28:56
[SPEAKER_00]: by the largest asset managers on the planet, by the big banks, by like these these different companies and just ride in their wigs and the answer is easy and it's just like don't be overly negative on the crypto market.
29:12
[SPEAKER_00]: In fact, the opposite, the bullish and I think that's also why we're starting to see a lot of these financial advisors start recommending more and more and more crypto exposure from none
29:25
[SPEAKER_00]: to half a percent to one percent to two just percent now we're seeing three to five percent exposure.
29:32
[SPEAKER_00]: And that number is probably just going to increase as well.
29:36
[SPEAKER_01]: Yeah, I couldn't agree more.
29:38
[SPEAKER_01]: There's a lot of people bullish.
29:40
[SPEAKER_01]: The sides you obviously me, ton of people in the chat, James Fitch.
29:44
[SPEAKER_01]: There's a guy named Cayman in there.
29:46
[SPEAKER_01]: He's acting super bullish.
29:49
[SPEAKER_01]: Just absolutely think I've heard of that guy.
29:51
[SPEAKER_00]: Yeah.
29:52
[SPEAKER_01]: Yeah.
29:52
[SPEAKER_01]: Yeah.
29:53
[SPEAKER_01]: I came.
29:53
[SPEAKER_01]: He's a wild one.
29:54
[SPEAKER_01]: But I think I think it's not just there's so many narratives that are urges bullish because it sounds bullish in the price action of it and adoption of it, but there's also the side of kind of the legislation side, right?
30:08
[SPEAKER_01]: and kind of just to kick it off like the FBI drops investigation to crack in exchange founder.
30:14
[SPEAKER_01]: Now, I think that if we had a different administration, that might go the other way, right?
30:18
[SPEAKER_01]: Like the jaw that felt like we kind of in a battle over the last, you know, five years with just administration wise, it seems like a decade ago.
30:27
[SPEAKER_01]: It really does.
30:28
[SPEAKER_01]: It seems like a decade ago Gary Ginsler, you know, could parade around and kind of
30:34
[SPEAKER_01]: shake the crypto market out with just his words and legislation now you know we fired them day one that was our favorite clip for about six months we got them out of there and then now you know the tides are turning and that that includes with lawsuits like that and but it also it's also bullish for for new products right so I know I saw that the SEC approved the conversion of the bit wise ten now I remember
30:58
[SPEAKER_01]: When Matt Hogan came on like the first time we had him on and he was kind of educating us about the bit wise platform of like what they offered.
31:05
[SPEAKER_01]: And he was like, yeah, we have, you know, some products and you can go to our website and see what our products are.
31:11
[SPEAKER_01]: We have basically like a blue chip ETF with the top.
31:14
[SPEAKER_01]: You know, cryptos and you can go on the website and see the percentages.
31:17
[SPEAKER_01]: Actually, they're right there.
31:18
[SPEAKER_01]: So like you can go on and see itself in there.
31:20
[SPEAKER_01]: And I remember being like, hey, can I can I invest in this?
31:23
[SPEAKER_01]: It's no, you got to be a credit investor.
31:25
[SPEAKER_01]: You got to go to the process.
31:26
[SPEAKER_01]: You got to register and I just like, oh, man, that sucks.
31:30
[SPEAKER_01]: And then
31:31
[SPEAKER_01]: now with new legislation and clearly whether it's treasury companies and ETFs flowing and we got more ETF stuff to talk about next but like the bit wise ten is now going to be converted into an ETF which which I think is super exciting so it's like it's it's the narratives of what you think these banks are getting involved in building and excitement and adoption but it's like there's a legislation side to this that's really unlocking all of it and and giving you know new paved roads for the space
32:03
[SPEAKER_00]: Yeah.
32:03
[SPEAKER_00]: And I think we're going to see more of these.
32:05
[SPEAKER_00]: And what we've seen so far is Grace Gell had one of these approved.
32:10
[SPEAKER_00]: But why is now has one of these approved?
32:12
[SPEAKER_00]: And they call these basket or index ETFs.
32:17
[SPEAKER_00]: And they
32:19
[SPEAKER_00]: being compassed like a whole handful of different cryptocurrencies.
32:22
[SPEAKER_00]: You know, this one has, as it says, Bitcoin Ethereum, XRP, Solana, Cardano, Sui, Avax, Litecoin, and Polkadot.
32:30
[SPEAKER_00]: And it's market cap weighted and it's structure, which is why it's so Bitcoin-heavy.
32:35
[SPEAKER_00]: I think what this does is it opens up the door for a lot of more altcoins to get ETFs and come through.
32:42
[SPEAKER_00]: You can say, well, they already hold these coins in these basket and then these index ETFs.
32:46
[SPEAKER_00]: They already allow trading on these through a basket.
32:51
[SPEAKER_00]: can't we just trade the underlying assets that are inside of these baskets like doesn't that make sense you look at almost any kind of other index any other kind of like basket anything like that and that's always the case right you get a semi conductor ETF it has Nvidia has AMD has you know all these other uh you know
33:10
[SPEAKER_00]: Chip names, you can do the same with like Ebise AI baskets, you can do the same with these crypto baskets, right?
33:16
[SPEAKER_00]: They're all trading tradable assets, right?
33:19
[SPEAKER_00]: Products that are already trading as equities.
33:21
[SPEAKER_00]: This is I think the only example that I know of where it's a basket where you can't trade the underlying assets inside the basket.
33:29
[SPEAKER_00]: on the equity market except for Bitcoin and Ethereum.
33:32
[SPEAKER_00]: So I think it's a hard time for the SEC.
33:34
[SPEAKER_00]: And I don't think they're against it.
33:35
[SPEAKER_00]: I think it'll just take time.
33:37
[SPEAKER_00]: But I think that there's a really hard argument to be made as to why the underlying assets inside of these basket ETFs, these index ETFs, why they want it also get approved as well.
33:48
[SPEAKER_00]: So yeah, I think it just gets one foot in the door for all coins being closer to having some of these spy ETFs.
33:58
[SPEAKER_01]: Yeah, and I think we got, um, do we have another, what's the, an on the on the.
34:03
[SPEAKER_01]: Yeah, it's only one shares, pull that up.
34:06
[SPEAKER_00]: Yeah, I mean, there's, there's two more here and they're coming through the woodworks is funny because I saw, uh, uh, Aripal Tunis and.
34:17
[SPEAKER_00]: Uh, all man is named so being my mind.
34:19
[SPEAKER_00]: We talk about them all the time.
34:20
[SPEAKER_00]: Oh, the other the Bloomberg intelligence guys.
34:23
[SPEAKER_00]: Wow.
34:23
[SPEAKER_00]: Yeah.
34:23
[SPEAKER_00]: We got rough.
34:24
[SPEAKER_00]: Let's figure out.
34:26
[SPEAKER_00]: Yeah, thank you.
34:27
[SPEAKER_00]: Thank you.
34:27
[SPEAKER_00]: James, safe for an Eric Bouchenus.
34:29
[SPEAKER_00]: Uh, you know, they were tweeting back and forth about this.
34:32
[SPEAKER_00]: Oh, you can even see the tweet there.
34:33
[SPEAKER_00]: Eric Bouchenus says, not gonna lie.
34:35
[SPEAKER_00]: I had to Google it.
34:36
[SPEAKER_00]: Same with the injective one.
34:37
[SPEAKER_00]: And I was a conjective one.
34:39
[SPEAKER_00]: I didn't know there was an injective one.
34:40
[SPEAKER_00]: And they put that out a couple of days ago as well.
34:44
[SPEAKER_00]: So these days are coming out like faster than
34:48
[SPEAKER_00]: did like even we can keep track of like even there having a hard time keeping track of these because they're just getting rapid fired out uh and so we're getting one after another after another and they're like what are all these things um and in the crypto space like we know what these are but I mean yeah they're coming out of the woodworks
35:06
[SPEAKER_00]: We're getting all sorts of new ETF applications.
35:08
[SPEAKER_00]: And I actually, I'm the oldest.
35:11
[SPEAKER_00]: It's an era of, of new ideas.
35:15
[SPEAKER_01]: Yeah.
35:16
[SPEAKER_01]: No, it is a time to be alive.
35:18
[SPEAKER_01]: It's time to be alive specifically in being your crypto.
35:20
[SPEAKER_01]: And I think that's the coolest thing is for, you know, all the listeners and all the community members that, you know, have been riding for years, you know, multiple bear markets.
35:29
[SPEAKER_01]: And, you know, obviously, you know, us being together for as long as we have and doing this, it's cool to like,
35:36
[SPEAKER_01]: You know, you can't have the good times without the bat, so the ups and downs, and this has definitely been a wild ride overall, but the ups have been super fun.
35:44
[SPEAKER_01]: And I think I tease this, I tease this yesterday, and we're having the Canary CEO on.
35:52
[SPEAKER_01]: Monday actually Brendan not service all the podcast schedule but we're going to be interviewing him on Monday so it's on a great questions injective ETF you know on bias I need a little update on the pen goo ETF and I think it'll just be a great conversation overall to learn what they're doing over a canary capital but
36:09
[SPEAKER_01]: I think it might be a cool thing to kick around and toss around and be like, hey, what's your vision for all these ETFs?
36:15
[SPEAKER_01]: Like, if and when they get approved, is it too many or there are too many options or is this a good thing?
36:22
[SPEAKER_01]: I don't think I'll let you ever be a bad thing, but it's almost like there's almost going to be too many options for retail and they're not super educated on crypto and whatnot.
36:31
[SPEAKER_01]: I didn't know if you had a thought on that other than, you know, it definitely locks more liquidity, but like it's almost too many, too many options for the average person.
36:41
[SPEAKER_00]: Yeah, I think what this will do is this will make different, like we said earlier, but it'll make these indexes a lot easier to get access to and to create.
36:49
[SPEAKER_00]: And I think that'll be the main benefit, it's just like,
36:53
[SPEAKER_00]: And I don't even know if deregulating is the right word, right?
36:55
[SPEAKER_00]: But it'll just be easier for the average person to get their hands on this stuff.
36:59
[SPEAKER_00]: It'll be easier for the average person to get their hands on baskets.
37:02
[SPEAKER_00]: And that's I think what the real benefit it here is is that, you know, if someone
37:08
[SPEAKER_00]: Texas someone else and says, Oh, I like this coin or whatever, you know, what happens is half the time they don't want to go set up a crypto exchange and learn how to do this and fund a new account and go through this whole process.
37:18
[SPEAKER_00]: But if they can immediately just get exposure through their brokerages that they're used to using, then that probably doubles the likelihood of them actually buying a coin like this.
37:27
[SPEAKER_00]: So it's like the real benefit.
37:28
[SPEAKER_00]: Again, is it going to like
37:30
[SPEAKER_00]: you know moon us and could triple the market cap overnight probably not but it's just good for the overall like long-term health of the crypto market and easing accessibility over time.
37:43
[SPEAKER_01]: Yeah, my kind of speaking of accessibility, just more and more things coming to, uh, trackify ETFs, more and more things coming to, uh, crypto users as well.
37:55
[SPEAKER_01]: Coinbase announced that they're adding perpetual futures, uh, and you know that some people on the show, some people, uh, listeners, I'm sure love, love, love some leverage.
38:06
[SPEAKER_01]: Coinbase giving you new ways to get some leverage.
38:10
[SPEAKER_01]: Now, we always always want to say, be careful with leverage.
38:13
[SPEAKER_01]: It is a dangerous game, especially if you don't know what you're doing.
38:16
[SPEAKER_01]: Know the risks.
38:17
[SPEAKER_01]: Know what you're getting into.
38:18
[SPEAKER_01]: Be educated on how to do it.
38:20
[SPEAKER_01]: And if you are interested in educating how to do it, I know we have an amazing YouTube channel.
38:25
[SPEAKER_01]: Hopefully some of you are on there today.
38:27
[SPEAKER_01]: Listening right now, but we have a tutorial section.
38:30
[SPEAKER_01]: So you can go to the tutorial sections and learn how to use this stuff properly before you just blindly go and get your whole account liquidated.
38:36
[SPEAKER_01]: So Brendan, are you excited for perpetual futures?
38:39
[SPEAKER_01]: And I know you have an announcement for a new tutorial.
38:43
[SPEAKER_00]: Yeah, am I excited?
38:44
[SPEAKER_00]: I've already done a video on it.
38:48
[SPEAKER_00]: We were talking and we were jumping at the opportunity for this to happen because this is such a long time in the making.
38:56
[SPEAKER_00]: Back in the day, people would fight
38:59
[SPEAKER_00]: tooth and nail to try to get around the ropes, get their hands on some perpetual contracts.
39:04
[SPEAKER_00]: They'd go to BitMax, they'd go to DairyBit, they'd VPNN, which we don't condone, we never condone doing something against the law.
39:11
[SPEAKER_00]: But like that's something realistic that people would do.
39:14
[SPEAKER_00]: And for the first time in history, you now have a major tier one exchange offering perpetual contracts.
39:22
[SPEAKER_00]: So what this means,
39:24
[SPEAKER_00]: Is that you can get up to tenx leverage on limited assets.
39:28
[SPEAKER_00]: Now, if you're in the US, you can only do Bitcoin and Ethereum at the moment.
39:31
[SPEAKER_00]: But you can go in there and there's a little tab where you can go from all perpetual contracts to available and or tradable and under the all, there's a tons of them listed.
39:42
[SPEAKER_00]: Like every crypto you could think of.
39:44
[SPEAKER_00]: And so it makes me think that those are probably going to be on the way because they're already built into the interface like you can see it.
39:52
[SPEAKER_00]: You just can't click on it as a US customer.
39:54
[SPEAKER_00]: But yeah, I mean, this is exciting.
39:57
[SPEAKER_00]: And it's a little bit different, right?
39:59
[SPEAKER_00]: So we have different kinds of leverage.
40:01
[SPEAKER_00]: You have options, contracts, you have futures, contracts, and you have perpetual contracts.
40:06
[SPEAKER_00]: And in this video, it's going to be coming out what probably Sunday, TV, ifs around there.
40:13
[SPEAKER_01]: Yes.
40:14
[SPEAKER_00]: Yeah, definitely this weekend, hundred percent.
40:17
[SPEAKER_00]: Yeah, so everyone will get to learn like what these are, how they work.
40:21
[SPEAKER_00]: It's a little bit different from the perpetual contracts that I've traded.
40:25
[SPEAKER_00]: It's a, which I think they probably had to do it this way in order to be regulated correctly, but you'll see in the video.
40:32
[SPEAKER_00]: I guess, essentially, you can get up the Tenex leverage on Bitcoin and Ethereum on these perpetual contracts.
40:37
[SPEAKER_00]: You can lose more than you put in and they're extremely volatile.
40:43
[SPEAKER_00]: So,
40:43
[SPEAKER_00]: It's an important thing to note, but it's available.
40:47
[SPEAKER_00]: It's available.
40:48
[SPEAKER_00]: It's a big big step.
40:50
[SPEAKER_01]: Yeah, and obviously stay educated, stay smart.
40:55
[SPEAKER_01]: But yeah, exciting to get more, just more and more products, more and more options rolled out.
41:00
[SPEAKER_01]: And I think we just need to touch on, let's see, hard transition here.
41:04
[SPEAKER_01]: But touch on Solana a little bit, because I think the whole episode, especially the whole month has been, you know, Ethereum dominated.
41:11
[SPEAKER_01]: But even before the Ethereum came out, I don't want to say, year ago, but with six to eight months ago, Solana, Solana was the bell of the ball.
41:19
[SPEAKER_01]: Salana was the the one you wanted dance with on the meme coin floor all the salana meme coins were taking off salana was was a rocketing uh you know upwards you know in that January timeframe before it cooled off and now now everybody's you know ditch and salana at least narrative wise
41:37
[SPEAKER_01]: It seems like on the timeline and everybody's all in on Ethan and I feel like it's just one of those classics, you know, you're on the sideline for a little bit, but you know, I definitely think Solano have its day in the sun again and there's stuff that's going on and Solano keeps building keeps growing and there's a lot of cool stuff going on there.
41:53
[SPEAKER_01]: So I know you pulled the stat around Solano.
41:58
[SPEAKER_00]: Yeah, you know what this does is it just kind of gives a high level overview of what's coming.
42:02
[SPEAKER_00]: It says Solana has explained it has expanded its block capacity by twenty percent.
42:08
[SPEAKER_00]: What this does is it raises its compute limit from fifty million to sixty million cus starting with the epoch a two two.
42:18
[SPEAKER_00]: What this does is it essentially allows more or higher complexity transactions per block.
42:24
[SPEAKER_00]: What this means for the end user at the end result is that this potentially reduces fees and overall improves network performance.
42:32
[SPEAKER_00]: So you're looking at this and
42:34
[SPEAKER_00]: It's just again, like we're scaling, like even the blockchains that really don't have scalability issues, even they're scaling.
42:42
[SPEAKER_00]: And I think that that's the right direction here is we want to see these layer one scale because it's really where a lot of people are building infrastructure is we want to see especially salon a scale but we really want to see Ethereum scale.
42:53
[SPEAKER_00]: And conveniently enough, we had the, like, one of the court developers from Ethereum who led the staking upgrade, who led the recent upgrade that we just saw, you know, Den Kun and a lot of these others.
43:06
[SPEAKER_00]: And we talked to him, and that's like a thing at the forefront of his game plan for Ethereum is, you know, we're working on some, some others, like, necessary parts right now.
43:16
[SPEAKER_00]: It's what he said.
43:17
[SPEAKER_00]: But they are looking at,
43:19
[SPEAKER_00]: increasing the L one scalability as well and that's something that's on the radar.
43:23
[SPEAKER_00]: So yeah, I mean, Solana scaling, it's a good thing to see.
43:27
[SPEAKER_00]: And when it comes to layer ones like, like, maybe I'm biased.
43:31
[SPEAKER_00]: I like Solana and Ethereum.
43:33
[SPEAKER_00]: I don't think there's anything wrong with that.
43:34
[SPEAKER_00]: People always put Solana Bitcoin and Ethereum against each other and you have maxis that are like only Solana, only Ethereum, only Bitcoin.
43:42
[SPEAKER_00]: If you like one, you have to hate the others.
43:44
[SPEAKER_00]: I think they're all great.
43:45
[SPEAKER_00]: They're all great for different things.
43:47
[SPEAKER_00]: You know, you will get Bitcoin and you're not seeing near the same level of like defying tokenization.
43:52
[SPEAKER_00]: You'll look at Solana and you're not seeing like, again, defy our tokenization.
43:56
[SPEAKER_00]: Like Ethereum is, but you see a lot more like deep hand and memes and like different kinds of infrastructure over there.
44:02
[SPEAKER_00]: So they're working on different things and increasing scalability.
44:08
[SPEAKER_00]: It's just overall a good thing.
44:09
[SPEAKER_00]: So upgrades are coming and if you're on Solana, you're probably going to be looking forward to that.
44:16
[SPEAKER_01]: Yeah, I'm going to agree more and let's wrap it up.
44:19
[SPEAKER_01]: We got one more topic classic run down here running over forty minutes because we love nothing more than giving you apparently long episodes even with doing twice a week.
44:29
[SPEAKER_01]: But um... important this one we're going to use sometimes we end with a funny one this one I think is more important and actually uh... some thoughts here so
44:38
[SPEAKER_01]: Last episode on Monday we talked about there were some you know fodder bumping around online of does the US as the US sold its Bitcoin kind of blindly and we didn't have as much in the government US wallets as we thought apparently and we said we don't know if this is true it's something that we were going to look into and monitor
44:57
[SPEAKER_01]: And it seems that it was debunked here by Bitcoin archive who's saying that the US government still holds it's a hundred and ninety thousand Bitcoin worth twenty three point five billion dollars.
45:10
[SPEAKER_01]: And I think that again, this is the same thing though.
45:12
[SPEAKER_01]: It's like, okay, this is, you know, some research done by somebody who, you know, traditionally people might trust online.
45:19
[SPEAKER_01]: But I think the coolest part of this is that all this fud was going around and at the meantime,
45:25
[SPEAKER_01]: The administration is actually preparing a crypto report.
45:28
[SPEAKER_01]: And I think the most exciting part of all this is that next week, so exciting for next week's rundown, the July thirty if the US government is actually going to release its full crypto report.
45:40
[SPEAKER_01]: So I'm sure Dana Sacks will, my guess would be he would be the one kind of doing this and maybe a press conference of some type who knows if if Trump's going to be there, but
45:51
[SPEAKER_01]: I think it's super cool to now have the administration kind of piecing together this whole report because there was all that momentum, you know, the first couple weeks in January signing these executive orders, creating strategic reserves and stockpiles and we're not going to sell it.
46:05
[SPEAKER_01]: But, you know, it takes a lot of work to go through this stuff and verify it and all that and all these people online, including ourselves can speculate and talk about what's happening here and this tweet there.
46:17
[SPEAKER_01]: But I think this is actually
46:19
[SPEAKER_01]: I'm really excited for this.
46:21
[SPEAKER_01]: I don't think it's going to be any necessarily breaking market moving news unless there's something at a left field that we didn't see like the government bought more Bitcoin.
46:31
[SPEAKER_01]: I wonder what the odds of that?
46:32
[SPEAKER_01]: I wonder if I can get some action on that on like how she
46:34
[SPEAKER_01]: are polymarket like it is is lutnic going to be there and say like oh we've actually purchased you know ten thousand new bitcoin or something with so some profits from tariffs or something that would be fascinating but I really just think it if it baseline it's not market moving it'll be interesting to get to get some of this data what do you think
46:54
[SPEAKER_00]: Yeah, no, I think it will be.
46:56
[SPEAKER_00]: And what we saw is like Trump media is now like a top five Bitcoin Treasury company, too.
47:02
[SPEAKER_00]: I think we had a picture of that.
47:05
[SPEAKER_00]: And they're accumulating an already inside our community.
47:08
[SPEAKER_00]: It's funny excited question about like this very topic today that I have pulled up on another tab right now to respond to after we finished this.
47:17
[SPEAKER_00]: But it's like, you know, what is happening here?
47:20
[SPEAKER_00]: how like what parallel universe did we teleport into from a year ago and it's it's just crazy how far we've come and I think that inside of this report you know we are likely going to see like we said a little bit earlier like
47:36
[SPEAKER_00]: There's a lot more US, sorry, there's a lot more Bitcoin on the US balance sheet or on inside the US's ownership than we thought there was, because there was reports of like we had four hundred thousand, now only up two hundred thousand.
47:49
[SPEAKER_00]: Well, we might only have twenty nine thousand now.
47:52
[SPEAKER_00]: It's looking like that's not the case and it was just put in different locations.
47:56
[SPEAKER_00]: And Arkham did some digging and it's looking like we do still have around two hundred thousand Bitcoin under US ownership.
48:03
[SPEAKER_00]: But regardless, yeah, I mean, you got to look forward and be excited for what this report's going to be.
48:08
[SPEAKER_00]: I think the real clarification here is going to be that we didn't know how much we had, like exactly like even, you know, even the high-ups, like I said, we really don't know how much exactly we have inside the US.
48:25
[SPEAKER_00]: We have like a rough estimate of this, but
48:29
[SPEAKER_00]: What I think we're going to find out now is exactly how much we have in terms of not only Bitcoin, but altcoins.
48:33
[SPEAKER_00]: And I think that's where the real clarity is going to be here is David Sachs, like we said, like we roughly know we have around a hundred thousand Bitcoin altcoins.
48:41
[SPEAKER_00]: I think we are just flying blind for the most part.
48:43
[SPEAKER_00]: So I think we're going to probably get clear exact numbers of what we actually own in terms of reserves.
48:49
[SPEAKER_00]: And then we know that the US isn't going to sell that off.
48:52
[SPEAKER_00]: And then on top of that, who knows, maybe there will be some sort of action plan of accumulation at no cost to the taxpayer.
48:59
[SPEAKER_00]: And I think that is the ultimate goal of what people want to see.
49:02
[SPEAKER_00]: I think the one thing that we will not see.
49:05
[SPEAKER_00]: And I see this every time the US comes out and says that they have a crypto announcement, every single time I see people begging or talking about this idea,
49:14
[SPEAKER_00]: that they're going to eliminate capital gains tax on crypto.
49:17
[SPEAKER_00]: I don't see it happening.
49:18
[SPEAKER_00]: It makes no sense to me.
49:20
[SPEAKER_00]: They're going to say, oh, well, it would incentivize growth in this and that, yeah, we'll adapt.
49:25
[SPEAKER_00]: But there's no benefit to the government like doing this.
49:28
[SPEAKER_00]: I know it stimulates growth and stuff.
49:29
[SPEAKER_00]: Listen, it's a booming industry.
49:32
[SPEAKER_00]: They want to be the capital of that industry.
49:34
[SPEAKER_00]: They're going to collect taxes on that industry, right?
49:37
[SPEAKER_00]: This is kind of the tradeoff that we get.
49:40
[SPEAKER_00]: They promote, they promote growth, they promote companies, they promote profits, but they're going to get a piece of that expanding pie.
49:48
[SPEAKER_00]: And that's what they want.
49:50
[SPEAKER_00]: That is their incentive, is that they grow this industry to be something massive, but they get a piece of the pie as it continues to grow.
49:57
[SPEAKER_00]: So I don't think it makes any sense as to why they would expand it and not get a piece of the pie.
50:02
[SPEAKER_00]: And I just, I have to say this, it's a little bit of a rant, but I see it every time.
50:06
[SPEAKER_00]: Like people are always saying,
50:07
[SPEAKER_00]: Oh, they're gonna get rid of capital gains tax.
50:09
[SPEAKER_00]: Listen, I hope I'm wrong.
50:11
[SPEAKER_00]: I really, really do.
50:12
[SPEAKER_00]: No one trades like more crypto than no one trades it more frequently than us over here.
50:18
[SPEAKER_00]: We love our crypto.
50:19
[SPEAKER_00]: So I hope I'm wrong, but I don't see it being a likely scenario that all crypto capital gains tax just gets like wiped off.
50:27
[SPEAKER_01]: Yeah, I have nothing to add to that, Brendan, other than the tweet and the text that I put there.
50:36
[SPEAKER_01]: Are you paying attention?
50:39
[SPEAKER_01]: It's a very simple formula.
50:42
[SPEAKER_01]: I know we've said this a lot and it gets very hard to do when the administration is so involved in the space, not to get political.
50:49
[SPEAKER_01]: This isn't a Democrat or a public and thing, but
50:53
[SPEAKER_01]: Who's in power?
50:54
[SPEAKER_01]: Who's in power?
50:56
[SPEAKER_01]: And that person has a family and that family has some businesses and those businesses are on the chart that you're looking at right there and it's just like, are you paying attention?
51:05
[SPEAKER_01]: And I'll say this to wrap up.
51:07
[SPEAKER_01]: I know that our people are paying attention.
51:09
[SPEAKER_01]: The chat is going absolutely wild right now.
51:12
[SPEAKER_01]: We've got Rob, we've got CJE and guys, I think we got James and just Ryan, Ryan with Brendan.
51:20
[SPEAKER_01]: I believe this are not a five dollar tip.
51:23
[SPEAKER_01]: I think that might be a crypto one-on-one live program first, a five dollar tip from Ryan Ryan.
51:29
[SPEAKER_01]: We appreciate that so much not something that we ask for at all, but yeah.
51:37
[SPEAKER_01]: That's what I'm saying.
51:38
[SPEAKER_01]: It's our first ever super chat for the crypto one-on-one live.
51:41
[SPEAKER_01]: History was made today and if you're still with us right now, you've seen it.
51:45
[SPEAKER_01]: Ryan, thank you very much, man.
51:48
[SPEAKER_01]: You're here basically every day when you can be.
51:50
[SPEAKER_01]: I know that very active Tyler fits very active.
51:53
[SPEAKER_01]: We really have built like a small, small YouTube community.
51:57
[SPEAKER_01]: Obviously we have a huge community, a crimp nation.
52:01
[SPEAKER_01]: I mean, dude, this is super fun and we appreciate you guys joining us and being active and that's why we're doing more because you guys asked for them and we're growing the community and wow, super chat.
52:12
[SPEAKER_01]: I mean, that's what I got to end on Brendan.
52:15
[SPEAKER_01]: What a super chat.
52:17
[SPEAKER_00]: Yeah, I mean, I was going to say Ryan usually when people super chat, they usually like attach a question to it and it's like, you know, people super chat with a question and it bumps the question to the very, very top and big bold letters.
52:29
[SPEAKER_00]: There was no question.
52:30
[SPEAKER_00]: So my question was going to be Ryan, do you have a question?
52:33
[SPEAKER_00]: Like, did you want to do?
52:34
[SPEAKER_00]: I'll talk about something or look at something because usually that's what is associated with super chats, but it was just blank.
52:41
[SPEAKER_00]: So if it's just to say, hey, I appreciate the team.
52:44
[SPEAKER_00]: That's super cool.
52:45
[SPEAKER_00]: But if you do have a question, we appreciate it.
52:48
[SPEAKER_00]: I just see everyone else in the chat just saying like some kind words and that they appreciate the content and they support us and call us legit.
52:57
[SPEAKER_00]: Yeah, I mean, listen, we appreciate everyone in the live chat.
52:59
[SPEAKER_00]: And if you're watching this back at a future point in time, maybe you're on one of the other platforms, like originally, like we weren't really started on YouTube, like we started on spotifying up a podcast on all these other sources.
53:12
[SPEAKER_00]: And Tiva was really the one who got us
53:14
[SPEAKER_00]: going heavy on YouTube.
53:16
[SPEAKER_00]: So like in the big picture like the YouTube scene is still like newer over here, but we want everyone to be able to come and join these live and partake and check us out on YouTube if you haven't already, but
53:29
[SPEAKER_00]: Yeah, I see Ryan came in with a question, Ryan said Bitcoin on Solana.
53:34
[SPEAKER_00]: There's only twenty one million Bitcoin on Solana, any thoughts.
53:38
[SPEAKER_00]: So what I'll say here is that typically if I'm going to own Bitcoin, the only way is that I don't really own wrapped Bitcoin or Bitcoin on another blockchain or anything like that, I typically only go and buy either Bitcoin itself, just like the actual underlying asset on the native Bitcoin blockchain.
53:59
[SPEAKER_00]: or I'll buy the Bitcoin ETF and I'll trade that because that is a spot ETF that is always paired one to one to the price action of Bitcoin and I can also trade options over there on those.
54:11
[SPEAKER_00]: So listen, I love Solana.
54:13
[SPEAKER_00]: I have multiple liquidity pools running on Solana.
54:16
[SPEAKER_00]: I am staking and I'm doing some decentralized stake on Solana in my own wallets.
54:21
[SPEAKER_00]: I own a bunch of Solana and coins built on it.
54:23
[SPEAKER_00]: So I'm a huge supporter of their ecosystem.
54:26
[SPEAKER_00]: However, when it comes to Bitcoin, I don't want to own Bitcoin on Solana.
54:31
[SPEAKER_00]: I'd rather just own Bitcoin outright.
54:36
[SPEAKER_00]: But that's kind of the way that I view it, right?
54:37
[SPEAKER_00]: You know, I think some people probably look at it and listen, there is like if you're looking for like a really cheap way to do transactions extremely fast, like that is a benefit of Solana that you get to have these cheap, fast transactions.
54:54
[SPEAKER_00]: But you can also have the same kind of experience on Coinbase or Crack and where you can trade Bitcoin extremely fast for a fraction of the cost and a fraction of the time and you can do that on centralized exchanges.
55:07
[SPEAKER_00]: Ryan says a follow up, but a new coin maybe for people who are learning and maybe feel the Bitcoin is too expensive for them.
55:16
[SPEAKER_00]: And that they can still get in cheap.
55:20
[SPEAKER_00]: I think it needs to offer a bit more utility if it's not paired to.
55:26
[SPEAKER_00]: Bitcoin.
55:28
[SPEAKER_00]: I think it still needs to be something different than just having the title of like, well, this is the second Bitcoin.
55:34
[SPEAKER_00]: Because we've already seen a lot of people try to do that.
55:37
[SPEAKER_00]: Um, one of the, the, what was it?
55:41
[SPEAKER_00]: There was a coin that tried to do this.
55:43
[SPEAKER_00]: I don't think it was SPX six, nine hundred.
55:45
[SPEAKER_00]: I think it was like,
55:48
[SPEAKER_00]: What was it?
55:49
[SPEAKER_00]: It was like the coin that like you missed it once.
55:51
[SPEAKER_00]: Don't miss it again.
55:52
[SPEAKER_00]: Oh, it's going to kill me.
55:55
[SPEAKER_00]: I might have been like supersonic baroque Obama something coin.
56:00
[SPEAKER_00]: There used to be a coin like that and maybe that was it.
56:02
[SPEAKER_00]: But there was a coin that tried to do this and it was just a little Mimi.
56:11
[SPEAKER_00]: But yeah, I don't know.
56:12
[SPEAKER_00]: I don't really have any other thoughts there just historically.
56:15
[SPEAKER_00]: I think when I look at it, you know, if people want something cheap, then they'll go to probably an alternative crypto.
56:21
[SPEAKER_00]: I also think that we're entering into a stage where something is either going to be classified as a meme or it's going to need real utility.
56:28
[SPEAKER_00]: And I think that those are going to be the coins that kind of succeed here.
56:34
[SPEAKER_00]: So if it doesn't have a really utility and the whole purpose of it is to just be a second version of Bitcoin, I'm not sure that that's going to be enough to gain traction.
56:43
[SPEAKER_00]: Because if the whole idea is that it's Bitcoin, but cheaper.
56:47
[SPEAKER_00]: Yeah, I don't know.
56:51
[SPEAKER_01]: Yeah.
56:52
[SPEAKER_01]: Well, we're just going to be Ryan for the super chat and not crypto related at all, but since we're a live program Brendan, and I know that people appreciate breaking news.
57:04
[SPEAKER_01]: All right, Peter, Hulk Hogan.
57:06
[SPEAKER_01]: I mean, what an absolute legend.
57:09
[SPEAKER_01]: Again, I know it's not crypto.
57:11
[SPEAKER_01]: Well, so if you, if you want to tune off now, that's fine, because the crypto stuff's over, but it broke on the air.
57:17
[SPEAKER_01]: You actually caught me in the middle.
57:18
[SPEAKER_01]: I got like a text and some
57:20
[SPEAKER_01]: some notifications.
57:21
[SPEAKER_01]: I was like, oh my god, like Hulk, I'm going to die.
57:23
[SPEAKER_01]: He lives.
57:24
[SPEAKER_01]: He lives here in Tampa.
57:25
[SPEAKER_01]: There's a Hogan's bar about fifteen minutes in Clearwater Beach.
57:28
[SPEAKER_01]: So I've been to so many times legendary Monday, karaoke night.
57:32
[SPEAKER_01]: He used to just chill there.
57:33
[SPEAKER_01]: Not exactly every Monday, but it'll be there or would have been there a lot.
57:37
[SPEAKER_01]: Very involved with the city of Tampa doing some events.
57:42
[SPEAKER_01]: I participated in the real American beer beer chug off this Fourth of July and actually won.
57:48
[SPEAKER_01]: uh... that was hosted by his son uh... nick and the mouth of the south who was his height man over the years uh... just so he's really ingrained into the city of Tampa his hometown uh... not sure what happened dude i've seen him around like at events and stuff not that long ago and you know you never know what's going on with somebody's health and you know stuff happens all the time but very sad very shocking uh... what a legend and any any thoughts or memories of whole cogon the whole coca mania
58:17
[SPEAKER_00]: did that crush is my heart.
58:19
[SPEAKER_00]: I grew up with Hulk Hogan.
58:21
[SPEAKER_00]: I was a huge WWE fan and that I saw that.
58:27
[SPEAKER_00]: You know, we put in our Slack channel breaks my heart, man.
58:30
[SPEAKER_00]: He, uh, yeah, what an icon, man.
58:33
[SPEAKER_00]: That's such a bummer.
58:36
[SPEAKER_01]: Oh, and CJ reminding us the Aussie Aussie passed away yesterday or two days ago at this point.
58:44
[SPEAKER_01]: What another legend.
58:45
[SPEAKER_01]: Yeah, I don't know if you saw me do the Aussie Osborne had like a concert.
58:50
[SPEAKER_01]: Yeah, we're sold up up there.
58:52
[SPEAKER_01]: had a concert about a week and a half ago when it was planned that he was going to do an assisted ending to his life over in Europe, because it's just Parkinson's and his pain was too much, but man, he put on a great show.
59:04
[SPEAKER_01]: He hasn't performed it so long and just absolutely crushed it.
59:08
[SPEAKER_01]: Hulk, Hulk, a mania, passing away.
59:10
[SPEAKER_01]: Just always good to just say a few words and tribute to some legends that you know, help make your childhood or your music could or whatever.
59:19
[SPEAKER_01]: Yeah, shocking when this stuff just kind of hits the news wire, but you know, always appreciate just good memories of different people.
59:26
[SPEAKER_01]: So they're literal legends and then they'll live on probably forever.
59:30
[SPEAKER_01]: So cool stuff.
59:33
[SPEAKER_00]: Yeah.
59:34
[SPEAKER_00]: Well, you know, rest in peace, to both of the legends over there are two different industries.
59:38
[SPEAKER_00]: But man, we appreciate everyone coming in here.
59:40
[SPEAKER_00]: It was an action packed episode.
59:43
[SPEAKER_00]: I think we ran for literally almost an hour or portion of sixty minutes as we talk.
59:49
[SPEAKER_00]: But man, we appreciate everyone coming in here tuning in to these quick reminder that we do these every single Monday and Thursday now.
59:56
[SPEAKER_00]: So you get them twice a week from me and TFO for the crypto rundown.
59:59
[SPEAKER_00]: We have lots of other tutorials and market updates and podcasts and everything else coming out.
1:00:05
[SPEAKER_00]: And so if you ever have
1:00:08
[SPEAKER_00]: any ideas or recommendations or video topics or anything.
1:00:11
[SPEAKER_00]: Let us know, like we like to stay in Iraq, do we like to read the chat, we like to read the comments, let us know if there's anything that you want us to see or talk about and we're happy to cover it.
1:00:20
[SPEAKER_00]: So thank you all for watching and we'll see you all at the same time, same place next week.