Capital Is Flooding Out Of Tether | Market Check

Añadido: 2026-05-12

[00:00:27]Good morning everybody and welcome to today's episode of Market Check brought to you by I mean today I'll I'll admit too late BB today forever and always.

[00:00:36]But uh nevertheless guys, we're going to have a great show for you all as we always do. Lots of alpha, maybe some entertainment. It is a Monday, so we might be a little bit more serious today, but uh I can never make any promises uh on this show. Um but yeah, welcome guys. I'm Snorlax. You also know me as Tommy. I'm joined by Prometheus Tucker and of course Chef Jackis. As I already said, we're gonna have a great show for you guys today. But before we can get started, before we can get into the alpha and like I said, maybe a little bit of entertainment as well, I'm going to need you guys to hit the like button. Last week, you guys did great.

[00:01:12]Really, the last two weeks, I think the like button participation has been pretty solid. Um, but we're going to continue to keep an eye on that front, of course, make sure that uh that everything stays in line and, uh, we're going to do our best to, you know, quit proquo, give you guys a great show, uh, in return. But as far as the market goes, uh, brand new week. We are coming into the middle of May. I'm not sure if it's OPEX week or not. That might be next week. No, I I think that is this week. I'll have to look that up. But uh the S&P clear 7,400 mostly because we're seeing Nvidia really lead this rally.

[00:01:49]I'm looking across my watch list and most stuff is red with the exception of Nvidia, SMH, uh Micron, uh and I imagine that Sandis will probably flip green at some point today as well. So really kind of the same assets that were leading last week are still continuing to lead the market. Uh while we don't really see that participation from a lot of other equity names as well, I think that's maybe something we'll discuss as well. I actually just tweeted about that. Um it kind of reminds me of like altcoins with Bitcoin for most of this cycle when people would be holding altcoins waiting for them to pump with Bitcoin and they just didn't. Um the market has leaders.

[00:02:32]It has a favorite and uh yeah, you might as well just keep leaning into that if you ask me. But uh yeah, Nvidia broke out to new highs. I think 6 trillion market cap, which seems fair, right?

[00:02:43]Given that Google hit 6 trillion market cap about two weeks ago. I want to say that's around 230 to 240 for Nvidia. Um but uh yeah, crypto we saw a bit of a coiner weekend. Um as I was kind of affectionately calling it in our Discord, we saw a lot of altcoins give some really nice pumps. Um, the big winner was seemingly Sueie, which had like a 30% daily candle on Saturday. Uh, I know. I I bet Chef loved that one.

[00:03:11]But, uh, we're seeing some sold out performance. I am kind of amazed that ETH is still so uh so weak. But, uh, I will say when I look at these two highs on Bitcoin, at least on a higher time frame, it looks to me like we're generating some liquidity to be run.

[00:03:27]Will that liquidity turn into a broader breakout? Does it turn into a sweep and sell off? Uh I do believe we'll get some clarity on that later this week. But how are we doing guys? What are we seeing in the markets? Uh anything that's uh that's particularly exciting to you guys? And I hope everybody had a great weekend uh celebrating Mother's Day, but that's a that's a separate bit.

[00:03:51]What I'm surprised is that Mother's Day is actually a worldwide worldwide holiday or celebration, which is nice because we all love our moms or at least I would assume most people do.

[00:04:07]>> I hope too. Uh I wish everyone the best especially in this regard. So yeah uh we actually sort of you know uh enjoyed it as well.

[00:04:20]And uh yeah, now to the market. Uh Nvidia making new highs, semiconductors new highs, but crypto still range bump.

[00:04:32]What's new?

[00:04:35]>> We got we got some pretty nice altcoin pumps over the weekend. I felt like on Friday that was fairly uh like we could kind of see that coming uh to a large degree.

[00:04:47]Soul finally out is is outperforming. Um Sooie gave an enormous candle. There were some other altcoins that had some really big pumps um throughout the weekend.

[00:05:01]>> Absolutely. Yeah. It's and you felt it kind of like this I I feel the space felt it although I was mostly away from the charts and it's kind of you know like uh it match me actually I was reading a tweet from Anom the other day and he was like oh my god we got a 5% move on Bitcoin I'm so excited and I was like you know what this used to be a norm and now we are excited that's daily norm and now we are excited about 5% move in BTC see I mean how you know perspective how times have changed u but yeah I suppose this move has been a bit exciting over the weekend um that said obviously um the main leader still and will be Bitcoin and they still do need to they still do need to um do more you know it's been ranging for the past 30 days but I would say yeah like things are good things are slowly moving there right but we I said this before I don't want to like sleep there you know I don't want to like comfortable with like yeah we are slowly moving up no we joined this industry for the outperform returns I'm not going to get you know excited with a slow grind up like it's nice I I'm more glad than if it was slow grind down but hey I want to see the the impulsive moves to the upside finally. I want to see the market, you know, get exciting and really start to troll other industries again and not the other way around. I mean, look, silver is up 7% a day. Are we truly and like are we truly, you know, happy about BTC being up 5% a day? It's nothing to me. It's nice, but hey, if I'm to get excited, give me something bigger.

[00:07:02]>> In crypto's defense, you know, there's really not that much participation in equities right now outside of like semiconductors and very small number of like memory tra uh memory stocks, right?

[00:07:16]Like SanDisk, Micron, those have been diging. You have Nvidia pumping. SMH obviously led this rally. uh we're seeing something like TSM show some relative weakness today, but I I feel like there's really not that many names in equities that are pumping right now.

[00:07:32]And I I kind of just tweeted this. I guess I said it in my intro as well, but it does kind of remind me a little bit of like in equities, we're seeing again fewer and fewer assets pumping, which again I think excuses crypto's lack of pump right now. Um because people just have there are top performers that just continue to perform. Um and I imagine that's really like it's that whole concept uh winners average winners, right? But obviously we'd like to see crypto become a winner uh again.

[00:08:09]>> We do.

[00:08:10]>> We do. We do indeed.

[00:08:15]>> Yeah, man. Stocks have just been the winners for so long.

[00:08:19]We just we wanted a little taste, you know. That's all. Is that too much to ask?

[00:08:24]I guess >> reminds me of that Attack on Titan meme.

[00:08:28]I don't know. I think uh Prometheus is the only one that's seen that show on this panel, but there's a very famous meme from that uh from that show of a guy like desperately trying to touch his tongue to what looks like water, but it's canonically important to the show.

[00:08:46]Um, just like so thirsty for that that pump.

[00:08:58]But yeah, things are moving in a nice direction. That's for sure. I mean, you know, I've I've been in the market for a while and this is often times present during many bottoms. like the rest of the of the thread market has recovered or is recovering and then uh you know crypto is boring slowly moves you know higher perhaps sideways something it's not really exciting and then it starts to catch up rather quickly so I still do have my hopes that that's what we will see uh but again you know like if you're going to look at this entire move up on BTC see since you know the sort of like March April low you know it's been very slow grind up and again way better than if it moved down but you know give me that push to 100 I want to feel something I mean you could have gotten some really nice impulsive candles if you were long uh soilana or or or sooie this weekend, chef?

[00:10:13]>> No, of course. Of course. And you know, I had some like nice moves over the past week actually on on my holdings, right?

[00:10:23]Like, you know, stuff I would say I would say, you know, let's let's look at something like Total 3 ES, right? And it's up it's up well, it's up just like 14%, but I suppose it's an index. Um but yeah, you know, lots of stuff that I hold is up up like, you know, 20 to 40% in the past week. It's very nice. But again, like when when I compare it to [ __ ] you know, AI stocks do lots of stuff. I mean, you know, I suppose I want the good good outperforming times again. That's what I want, you know. So yeah, maybe I'm too greedy.

[00:11:11]Or am I just still grinding up here, man?

[00:11:18]>> Tucker, I want you to pull up a chart.

[00:11:21]Um, it's Pepe. It's a Pepe chart. So go to the Pepe, pull up the Pepe MXi perpetual chart >> and then click on the So you're going to change your candles. I want you to do the volume candles fatties. Fatties and I want you to put it on the weekly and then that is the largest volume we've seen ever on Pepe.

[00:11:51]>> Really?

[00:11:53]>> Oh my god. Yeah, that's a fatty.

[00:11:58]>> And it makes me think that somebody knows something. And I look at I famous last words. Um, you know, I look at Pepe, I look at Bitcoin, I look at ETH and a lot of other altcoins and there's very clearly a twop in the market. like somebody some large player is swapping a lot of these charts. Um >> it makes sense Prometheus not to cut you off just quickly. You know if if E is truly you know preparing here beneath the resistance for a breakout. We know how alts will react to that. So if if we are talking about like a you know sudden quick ease breakout of about 20% in a week that that's why I would say Pepa is getting swapped and others as well.

[00:12:56]>> Yeah I think it's uh you know I want to be on the side of those you know that kind of liquidity coming into the market right now. Um, I still find it very difficult to want to short anything in crypto. I don't think that there's a ton of opportunity there. Uh, I don't think that there's a ton of opportunity, generally speaking, to be short much of anything in the market. I mean, the S&P last month, put in a 10% candle, monthly candle that is, which matched, you know, historical yearly returns. It was a monthly bullish engulfing candle. The last time we saw one of those um or almost every time we see one of those, it leads to um historically generally speaking at minimum a six-month uh bullish trending environment in the broader markets or at least in the ES specifically even today like what we saw you know Trump put out a tweet again on Sunday but what happened like we opened up red and now we're green on the day kind of across the board. uh I don't see really right now why if we're looking at just it from a structural perspective the short opportunity within the market is it's a it's a very very very difficult one. I mean something that Tommy or somebody that Tommy and I like to follow and listen to is Chem Chem Carson.

[00:14:20]you know, I think that there's potentially opportunity in super super super like tail puts that are extremely cheap, you know, like as hedges. Uh, but like broadly speaking, I think that there's more so opportunity across the board. You know, you look at names like Sue seeing some form of pump, Air seeing a pump, Salana finally seeing a little bit of catchup. I know last week we talked about Salana pumping means, you know, kind of run for the hills. Um, but breath is breath is a good thing, right?

[00:14:53]Breath is breath is a good thing. Um, because it wasn't just those names individually pumping like we saw kind of across the board, the laundry list relatively speaking, you know, up. Uh, which was a very good sign in my opinion. And like I said, I see that swap in the market and to me I'm just like it makes me like it's one of those trader instinct things where like it's like man something just feels like it's coming, you know, and and like from a bullish perspective, right? Where like all these dips are just getting eaten up in majors. You know, looking at that Pepe chart, there's a clear clear top.

[00:15:29]I'm just like I want to be on that side um that's positioning with those flows right now.

[00:15:40]Definitely a clear twop for sure. I mean, dude, yeah, I was just looking at like where's the like the fat candles on QQQ? Like, this is just so thin. Like, so is SPX. Like, it's just it's pretty thin, you know?

[00:15:59]So, I mean that's fine, but uh yeah, that one's I got to candles now.

[00:16:13]This one looks healthy.

[00:16:17]Yeah, I mean if you look at like the ES on you know either the monthly or the weekly generally speaking um you know on the breakout moves up they're pretty like average volume candles uh you know when we kind of get that floating you know that floating regime uh where price just wants to you know slowly grind higher you know it's pretty the volume looks pretty consistent. You can see it there with the volume candles whenever we do kind of had those, you know, periods where you see months and months of, you know, bullish price action where you aren't necessarily getting like the huge huge meat stick. Uh, but mostly where the big volume occurs with those candles is at the lows, right? The capitulation.

[00:17:02]Um, so you know, maybe some alpha for the listeners. Throw this onto your charts and when you see, you know, huge red monthly candles, um, with high volume, generally speaking, at least over the past five years, that has marked some form of significant higher time frame bottom.

[00:17:19]And we got one in April, right? Or March, was it? Yeah, in March. So, I don't know, man. I don't I just can't fade this market, you know? just can't fade it.

[00:17:33]>> What do you guys think of Intel? It kind of trends like a meme stock right now.

[00:17:40]>> It really is.

[00:17:45]>> Trump was telling people to buy it, you know.

[00:17:47]>> Yeah.

[00:17:49]>> Jeez.

[00:17:53]>> One of my biggest regrets this year was not holding my Intel bag from last year.

[00:17:58]I bought it down in the 20s and I sold it because it just was like grinding out. Not that we're going to go make a lower low down in the mid- teens and we just did not.

[00:18:12]>> So is the new rule in the house being you not fate Trump calls?

[00:18:21]>> I think so. I I I think that's a good way to approach it. I mean, the Trump admin has like billions of dollars invested in companies, you know, and all of them are seemingly doing pretty well.

[00:18:33]I mean, that was the reason why I picked up US, United States Rare, uh, mining company, just because they had a big position and, you know, great buy. I mean, I don't want to be buying it here.

[00:18:45]Um, I actually sold my position looking to read on a pullback. But >> I mean, he looked at Nancy Pelosi and was like, I'm going to take the whole insider trade to entire new level, man.

[00:18:58]Like these dams do not know how to do it.

[00:19:05]It's like boom.

[00:19:11]>> I like that. I like that. Let's look up Troll, man. Troll has been on a tear.

[00:19:19]>> Yeah, it should be >> probably do the Mexi spot chart.

[00:19:28]>> Yeah, that's not really >> No, they like cut it off and then they readdited it or something.

[00:19:35]>> Yeah, do the Mexi spot.

[00:19:38]>> Yeah, should be it should >> third one down.

[00:19:43]It should be like a There should be an onchain chart. That's better.

[00:19:49]>> So, I hear birds.

[00:19:50]>> I hear birds.

[00:19:51]>> Yeah, >> you hear birds. Yeah, they're they're tripping pretty loud right now.

[00:19:58]>> There we go.

[00:19:59]>> Look at the volume. The volume.

[00:20:04]>> I guess uh Dorito was saying Wintermute's been buying in like 115k clips.

[00:20:09]>> I saw that last week. Yeah, >> Binance exit liquidity question mark.

[00:20:16]>> They're probably closing shorts if I had to guess >> cuz they're always >> delutral.

[00:20:25]They're all >> neutral. Delta >> neutral.

[00:20:32]>> Imagine not being delta neutral >> at all times. Imagine ever taking any risk.

[00:20:41]>> Yeah. With your deltas.

[00:20:44]Can't imagine.

[00:20:48]>> Speaking of delta neutral, bearish retest on sole ETH here.

[00:20:54]>> Yes, >> I tend to think so.

[00:21:06]Soul Bitcoin doing today.

[00:21:09]>> What did you say? Soul.

[00:21:11]>> Yeah, soul ETH.

[00:21:15]>> It's got to be close to being done, man.

[00:21:20]Unless it's actually back. But you know what that kind of looks like and potentially reminds me of that solely chart.

[00:21:30]I I I still think that it's probably going to be going lower, but um Pepe put in a little bit of a deviation kind of like that PO3 setup back in when was this back in September of 24 on that grind down.

[00:21:52]Um and that marked a pretty substantial higher time frame low. If you look at September 24 and you throw it on just the daily, it's going to be all the way back before the Coinbase listing. Yeah.

[00:22:05]Back there in here.

[00:22:25]>> Yeah.

[00:22:27]Just similarly like from a localized price price action perspective not from >> high time frame it would have have been like here.

[00:22:34]>> Yeah.

[00:22:36]>> Oh yeah >> cuz soul is so far down.

[00:22:40]>> Jeez that's crazy.

[00:22:44]Oh, and actually in relation to the Soul E chart instead of the Salana chart, the Soul E chart.

[00:22:59]Soul E reminds me of like Soul ETH and Soul Bitcoin kind of just kind they remind me of those huge throwbacks that altcoins will give before breaking down.

[00:23:16]You know what I mean?

[00:23:17]>> Yeah.

[00:23:19]>> Look at it.

[00:23:27]>> I just can't believe ETH has been such like I couldn't even pump this weekend.

[00:23:33]>> She tried. She tried.

[00:23:38]>> She didn't try.

[00:23:44]I was just like, okay, Soul's pumping. A lot of high beta altcoins look like they're going to pump and they did. Even EA stuff, you know, looked like it was going to pump and then ETH was just nope. I don't think I I don't think I want to.

[00:24:01]>> Now, we are kind of getting this compression up at range highs, which I do want to be mindful of.

[00:24:09]um it's like slamming between our, you know, discretionary range high and our composite range high and it's just pinned there right now. And usually when we get that kind of price action, it's generally more indicative of a breakout when we've at least when we've been floating for this, you know, amount of time. Um to me, it's more leading towards a breakout than a breakdown. I think bears have probably have needed to break this down um back in back at the end of April going into the beginning of the month.

[00:24:49]Um as of right now, it just looks like we're just waiting for compression pop higher.

[00:24:58]>> I see so much liquidity.

[00:25:00]>> Yeah, >> I mean on both sides.

[00:25:04]>> Yeah.

[00:25:05]P3 setup for somebody.

[00:25:11]>> For who?

[00:25:14]>> Maybe if it could stop ranging, we would know.

[00:25:18]By the way, I think that obviously if but if east breaks higher here, that's going to cause the sole east pair to to significantly reject where it is.

[00:25:35]I am really surprised that well I'm not really that surprised that Soul E came back up here but I would be surprised if they didn't reject here.

[00:25:46]>> What about Soul B and C?

[00:25:50]Wow.

[00:25:56]>> No, you got to zoom in and make it look really really good. So what is kind of a >> wait the the token troll that's on Solana right?

[00:26:07]>> Uhhuh.

[00:26:08]>> Yeah. So, so that makes sense, right?

[00:26:11]Troll starts to to, you know, starts to pump. People start to purchase Solana to ape into into troll again. That causes soul to to go up temporarily, which causes a temporary soul BTC and soul e upside. Um, guess what happens, right?

[00:26:30]Troll uh the people who bought their unload as people for more into it. the typical scenario that will cause people to sell again essentially and that will cause them to to to sell soul again.

[00:26:45]Then BTC and E starts to go and both pair soul uh BTC and soul e go down again.

[00:26:56]>> The only thing to once is selling it twice.

[00:27:03]>> Selling tokens you don't have. that way.

[00:27:25]Let's see what else you guys want to look at.

[00:27:31]You guys want to look at copper jackus?

[00:27:34]We're looking at a new alltime high here.

[00:27:37]>> We could. Yeah.

[00:27:38]>> Are we >> nearly at new alltime highs? I think I think literally it is uh silver in uh first part of 2025.

[00:28:02]Jeez.

[00:28:03]>> Does Hyperlid have copper as a ticker?

[00:28:08]>> Uh, yes it does. I believe so.

[00:28:12]>> Are you sure about that?

[00:28:14]>> I believe so.

[00:28:18]Let me double check here. Could be talking out of my ass.

[00:28:24]>> Yeah, they do.

[00:28:25]>> Yeah. Let's go. Available up to 20x leverage. Lovely.

[00:28:32]>> Absolutely love.

[00:28:33]>> That's not enough.

[00:28:35]>> Need more leverage.

[00:28:37]>> Do I hear Well, >> it's not enough.

[00:28:42]>> Where is he at? We need to get him on here today.

[00:28:47]>> He needs to talk about how all the bears are about to be homeless.

[00:28:50]>> I know.

[00:28:55]Oh my god.

[00:29:09]So, Jackie, you think copper is kind of like the equivalent of silver trading between like 35 to 40 roughly is what you're thinking?

[00:29:20]Yeah, I kind of think it's truly crawling up just waiting for that final push. And I have that idea in my mind that it was 2000, you know, the year 2023 to 24.

[00:29:41]That was the year of ma mainly 24, right? That was the year of gold when it broke out and started to go. Then silver was in uh 2025 when it really went high and 26 will be the year of copper when it will really go fast as the risk as the risk goes.

[00:30:08]It looks like it wants to go, man.

[00:30:12]Really does.

[00:30:17]And this, you know, copper going higher is very bullish. All of our all of our assets, I would say, or at least it always used to be that way. Perhaps this time is different.

[00:30:33]We'll see.

[00:31:04]I'm going to build a copper bot, bro.

[00:31:06]That's what I want to do.

[00:31:12]You going to be trading commodities, Tucker?

[00:31:16]>> Yeah.

[00:31:16]>> Commodities trader, >> on the blockchain.

[00:31:22]>> Oh, you're a commodities trader. Good luck with that.

[00:31:31]Well, technically right when he said that in uh 200 what year actually he said that right 200 seven >> must have been >> 2008 2006 like silver and felt ripped a lot from.

[00:32:02]>> So maybe it wasn't just as bad.

[00:32:05]>> But it's still a funny quote though.

[00:32:08]>> It is.

[00:32:18]>> Think Bitcoin goes red to green on the day?

[00:32:24]>> It should take the highs, honestly.

[00:32:29]That dump off the uh around the weekly open definitely felt like bait.

[00:32:36]>> Mhm. Agree.

[00:32:39]>> I don't know. I kind of feel it still could sweep the Sunday low at least, you know, at like 80 80k 300.

[00:32:53]But perhaps he just wants to go as well.

[00:32:57]>> This does kind of look like pre impulse, you know.

[00:33:06]>> I mean, just looks like it's ramping.

[00:33:11]>> I still have no idea what to think of BNB, though. Like, I think I never will.

[00:33:20]I'm sure there's some like weird correlation where you can find like if you know some ticker pumps to a certain market cap you know BMBB is going to you know do well I don't even know >> if BMB pumps usually ultra high beta will finally pump baby get some for the culture boys.

[00:33:51]Nokia sending. Wait, hold on. Is this that can't be right.

[00:33:56]Yeah, it's there.

[00:34:00]Get some for the culture.

[00:34:15]Are they making an AI pivot or what?

[00:34:21]Buybacks, Q&X growth, and AI push momentum. What do you know?

[00:34:26]>> They also partnered with Anduro.

[00:34:31]>> Yeah, everybody partners with Andrew pumps for a second.

[00:34:36]>> Oh, yeah.

[00:34:46]I think I texted you about Andural Tuck like what, like six, eight months ago.

[00:34:52]>> I'm like, we need to get in on one of those.

[00:34:55]>> Yeah.

[00:35:05]>> Can't you buy anthropic or private uh shares or something on the Salana blockchain?

[00:35:12]>> Yes.

[00:35:12]>> Oh, no. Are you serious?

[00:35:13]>> A synthetic version, of course. Mhm.

[00:35:16]>> Oh god.

[00:35:18]>> Yes, you can.

[00:35:20]Some dude bought it at like it was like 160 bucks a share. I think it's trading at like eight or 900 right now.

[00:35:28]>> Oh my god. On soul.

[00:35:30]>> On soul.

[00:35:32]>> That's funny.

[00:35:36]>> Circle's up 15% today, boys.

[00:35:41]>> Yes.

[00:35:42]>> Oh my god.

[00:35:43]>> Position. I'm very much >> happy.

[00:35:48]>> Jack is a happy boy.

[00:35:51]>> Can you feel it?

[00:35:53]>> No.

[00:35:54]>> Can you feel it? I'm jacked.

[00:35:59]>> Jack. Who is jacked to the tits?

[00:36:06]>> Oh my god. Anthropic at 1300 now.

[00:36:11]>> What?

[00:36:11]>> On what? On Hyperlid. on Soul. Anthropic trading at 1300 on Soul. It's so funny.

[00:36:19]>> Yeah. Anthropic on Soul.

[00:36:24]>> Funding rates 8700% on hype for anthropic.

[00:36:31]>> Funny.

[00:36:35]>> Holy [ __ ] This is actually super real.

[00:36:38]Look at Dorito's comment.

[00:36:41]Oh, you might. Don't make me.

[00:36:43]>> I mean, this makes perfect sense why they would look similar.

[00:36:47]>> Why?

[00:36:47]>> If you really about it, think about it.

[00:36:51]>> You're gonna make me ape.

[00:36:56]>> Oh boy. What was the market cap, bro?

[00:36:59]What's the market? 32 billion.

[00:37:04]I don't know what hype's market cap is, but it's probably not even close to that yet.

[00:37:09]Hypes FDV is 40 I think.

[00:37:13]>> Yeah.

[00:37:14]>> Yeah.

[00:37:15]>> I see. Okay. Yeah. Is 13 circulating?

[00:37:19]>> Yep.

[00:37:20]>> Okay.

[00:37:25]That's what I mean though. Hype down here was what? A quarter of what it is now? 134. I mean it was like four. It was like three bill.

[00:37:37]And then circle right here is like 32. So it's going to take 10 times more money to pump it.

[00:37:46]>> But it's stocks versus crypto. You know what I'm saying?

[00:37:49]>> There's 10 times more money there.

[00:37:51]That's true.

[00:37:52]>> Yeah.

[00:37:55]Now the correlation though since I I won't be I won't vague post anymore. Um, I mean, Hyperlid has what percentage of the USDC supply right now on its platform?

[00:38:10]>> I thought they started to offload that.

[00:38:13]>> At least right now, I know they do.

[00:38:16]So, if Hyperliquid sees obviously inflows to the exchange, they probably have a demand for more USDC in theory, right?

[00:38:29]>> Yeah.

[00:38:33]I think what they have like it's like 11 or 15% somewhere around there nuts for a deck.

[00:38:43]>> Yeah. Yeah.

[00:38:49]>> Please invert your chart.

[00:39:08]Now along those lines of the you know USDC trade with circle I think aerad drrome does very very well very very well.

[00:39:32]So a lot of charts look like this right now, but but unlike you know like soul and ETH, it broke out of that kind of you know bottoming range formation that it was putting in. Um, you know, I look at Airdrome and I'm just like want to talk about like agent to agent, you know, microtransactions like 90 to 95% of X42s done on BA on base right now, which is in Aerome liquidity pools.

[00:40:08]I'm just like man I mean I because like let's say Coinbase becomes like the agent marketplace right which there's a chance for it you know there's a chance for it to happen is a direct beneficiary of that and I like using Drrome way more than I like using unis swap you want to see some alpha >> I like how prometheus is just like try to cook and shill a drum to the tits and then talk comes in and want to see some also just like whatever.

[00:40:50]>> I'm leaving a drum up there. I'm leaving it up there.

[00:40:54]>> OPG.

[00:40:56]It's on bass, I'm pretty sure. And it's like 60 mil, but it's some that you talking about a drum and the agents and [ __ ] remind me.

[00:41:06]>> Um, but I think there's some FA there that could be done. The chart, I mean, chart's fine, but >> what does what does OPG do?

[00:41:16]>> Oh, well, let me tell you, Prometheus, open gradient is the network for open intelligence. a decent.

[00:41:25]>> It's just a bunch of garbage. Bunch of garbage. Bunch of garbage. And then something about >> I have a really old meme from the last bull run like 2021 and uh we were talking about onchain [ __ ] like me and this guy and me and a few people in in a in a a group chat and he was like, "It's trash. I bought some Yeah, >> sounds like chimp.

[00:41:57]>> Not to not to call what you're shilling right now trash, Tucker, by the way.

[00:42:01]>> Oh, it totally could be trash. It most likely is. Okay, so yeah, I don't even own any yet, but the onchain chart looks better than this shitty coin one.

[00:42:32]That old jet boys, >> dude.

[00:42:38]>> Somebody made me look at blur today on the uh on the morning and it was like the amount of pain you just brought back my memory.

[00:42:47]>> Dude, when were we trading for? Oh my goodness.

[00:42:55]Yeah, it's not showing me what it is.

[00:42:57]>> Chart.

[00:42:59]>> Where's the crypto? There we go. It was back in 20.

[00:43:03]>> Yeah, I was buying this in like the low 30 cents.

[00:43:06]>> Yeah, I remember that.

[00:43:07]>> Mark down 60% and then it pumped and I was just thinking, you know what, that's that's just the prototypical altcoin price action right there. Mhm.

[00:43:21]Oh, it was Bonk, too, that people are starting to talk about again, I think.

[00:43:25]>> Oh, no.

[00:43:28]As long as they're not talking about useless, I saw that they're sponsoring Atletico Madrid now. There's a separate joke that >> or useless.

[00:43:40]>> Useless.

[00:43:41]>> Wow.

[00:43:42]>> There's a separate joke that can be made there, but I will.

[00:43:44]>> Yeah. Yeah. Let's not entertain that.

[00:43:47]But yeah, >> Bitcoin looks kind of good here.

[00:43:56]>> Telling you pre- ramp.

[00:43:58]Where was the wick? I had it marked out on my other chart.

[00:44:06]There we go.

[00:44:09]I think that was it, right? Did you guys see Bitcoin wick to like one cent on Revolt?

[00:44:15]or whatever it's called.

[00:44:16]>> Revolute.

[00:44:18]>> Yeah.

[00:44:19]>> What is Revolute? I should know what that is.

[00:44:22]>> Some European bank or something.

[00:44:24]>> Jack is Do you use that?

[00:44:27]>> I do.

[00:44:28]>> Yeah.

[00:44:29]>> It's like Robin Hood of Europe. Sort of.

[00:44:32]Maybe. Not not exactly, but like it's very used in EU, but I haven't I haven't noticed that actually.

[00:44:44]If it prints there, it will I'm kidding.

[00:44:49]I'm kidding.

[00:44:52]Easy, Tommy. Easy.

[00:44:53]>> Oh, I'm not kidding.

[00:44:56]>> Send everything.

[00:44:59]>> Love to see that.

[00:45:05]>> I'm No more home button, by the way, boys.

[00:45:09]>> Really?

[00:45:11]>> No more home button. Very nice. Very nice. I cannot believe you had a home button, dude. That feels like middle school. No, that feels like college or high school, I guess.

[00:45:21]>> Yeah. Yeah. It's ergonomics at its finest. I need to bring it back.

[00:45:26]>> I You know what? I used to have the home button, too, for a long time.

[00:45:31]>> So nice. That like vibration when you like, you know, hold your thumb over it and then it like opens up your phone and it vibrates. I mean, that is satisfaction at its finest.

[00:45:48]>> Use that home button and then you start playing some doodle jump.

[00:45:54]>> Oh, man.

[00:45:55]>> Did you guys play the impossible game?

[00:45:58]>> Yes.

[00:45:59]>> Yeah.

[00:46:00]>> Where you jump, you're a cube and you jump over [ __ ] Yeah.

[00:46:04]>> Oh, I do remember that.

[00:46:06]>> Dude, I'm lowkey a god at that game, >> dude. Balloons Tower Defense.

[00:46:11]>> Dude, I bet you I still have that on my phone. That's That's one I kept around.

[00:46:15]>> Balloons Tower Defense is goated.

[00:46:18]>> Two iPhone games I was goated at. Whale Trail.

[00:46:22]>> The [ __ ] Whale Trail and the other one was um Oh, I'm gonna forget Temple Run. I was >> Oh, Temple and Subway Surfer. This >> I never played Subway.

[00:46:37]>> Remember this?

[00:46:39]I see it in like all of these videos.

[00:46:42]>> Oh yeah, >> I literally have it. And the noise, the sounds were so good, >> dude. Bring back old video game studios.

[00:46:53]They just don't do them like they used to.

[00:46:55]>> Wait, where's my where's my >> You've heard of Flappy Birds. Have you heard of Flappy Golf?

[00:47:01]>> Great game.

[00:47:03]>> Flappy Golf? No. I thought about Flappy Birds actually yesterday and how the guy that created it was getting like death threats from people and his wife ended up divorcing him.

[00:47:16]>> My god, >> he made like he made so much money off the app store in like a week and then people started like sending death threats and his wife [ __ ] divorced him and took half the bag.

[00:47:30]Dude, why am I >> most important decision you make in your life?

[00:47:35]>> It's who you marry.

[00:47:37]>> It's true.

[00:47:39]>> Tetris feel like Jack is was a big chess player.

[00:47:49]I used to play chess when I was really young with my father >> and then I had a few games online uh when I was older, but I don't regularly play.

[00:48:01]>> I I kind of like it I don't like it as much playing through the internet. I just like it to play like in real world, but not many people are into that.

[00:48:10]>> Mhm. And I'm like I'm not that smart to like play at some high level, you know?

[00:48:17]Probably >> you'd be great at it. Just takes time.

[00:48:20]Pattern recognition.

[00:48:21]>> Some people good at it, dude.

[00:48:26]>> I always say though that football, well to American soccer, right, is like a chess but 3D when you think about it.

[00:48:37]You know, you have like 11 figures on both sides, but you can play in the air.

[00:48:45]The field is much bigger.

[00:48:48]Plus, you have the subs.

[00:48:51]So, >> dude, do you remember this?

[00:48:53]>> I feel I I feel it's chess, just way more complicated.

[00:49:01]>> You guys remember this, right?

[00:49:03]>> Tucker is just in his own world right now. Yeah, he he just ignores all of us and always comes and it's like, "Yeah, but have you heard about it?"

[00:49:11]>> He's like, "Guys, guys, guys, check this out."

[00:49:14]>> All right, I'm sorry. I'm done. I was trying to get the sound to work for like 10 minutes.

[00:49:18]>> I remember.

[00:49:18]>> But let it play again. Let it play again.

[00:49:22]>> Play again.

[00:49:23]>> What? I I didn't hear it.

[00:49:27]>> All right.

[00:49:34]Oh, I do.

[00:49:35]>> Yes, it was so good. And you'd be jumping to the beat.

[00:49:40]>> That was the best part when it matched up.

[00:49:42]>> Oh, yeah.

[00:49:44]>> Oh, I died.

[00:49:49]>> I died.

[00:49:51]>> Oh, I died.

[00:49:54]>> I'll play after this for a second. What about cy tuck? SIV.

[00:50:00]>> Isn't it SLV?

[00:50:02]>> No. SIV. Civ.

[00:50:04]>> Is that a silver thing?

[00:50:06]>> No. No. Semiconductors.

[00:50:08]>> Which one?

[00:50:10]>> Siv.

[00:50:12]>> People are like, "Give us alpha." And we're just >> You guys remember this game?

[00:50:19]>> Hey, that is alpha, man.

[00:50:21]>> That is alpha. You're right. It's the best growing up.

[00:50:26]>> See, that chart is a rocket ship.

[00:50:31]>> There is a better for semiconductors. I always forgot it. Uh >> like >> market close. What is this?

[00:50:41]Is it live though? It must be actually >> SMH.

[00:50:45]Try SMH.

[00:50:48]>> Van semiconductor TF. Oh goodness.

[00:50:55]Sorry, big sneeze there.

[00:50:58]SMH. Yeah, SMH is the the semiconductor ETF.

[00:51:04]Look at that thing. I mean, what is that in in one two in like a month? It's up 50% in a month.

[00:51:18]>> That's crazy.

[00:51:20]>> Yeah. Never. So he bought the wrong asset. That's what it is. But fair to say in Jesus, this might be crazy. Wait, let me let me share a bit.

[00:51:50]this chart, guys.

[00:51:53]You see that?

[00:51:55]>> It's a vertical.

[00:51:57]>> Yes. But do do you see that?

[00:51:59]>> Mhm.

[00:52:01]>> You don't?

[00:52:03]>> I see it.

[00:52:05]>> Now I see it. I know what you're saying.

[00:52:11]>> 2018 cycle style.

[00:52:17]Every every stock is going to do that >> blowoff incoming >> sand disk. A blowoff happening currently. I mean, what do you call 50% a month on an index?

[00:52:36]That's insane.

[00:52:41]I don't see how selling man go is not real this year, if any year. like for equities at least.

[00:52:49]>> It's actually never really true. I I ran some stats and it's not really a good stuff. By the way, did you know that if you were buying since like I believe the stat was done in like 1980 or something?

[00:53:02]If you bought if you did not DCA every like day, but instead if you only bought if you DCA only at alltime highs, he would outperform the typical DCA.

[00:53:16]>> Really?

[00:53:17]>> Wait, what? You DCA only at alltime highs?

[00:53:20]>> Yes.

[00:53:20]>> How is that possible?

[00:53:22]>> Uh, >> yeah.

[00:53:24]>> I suppose because when you buy at alltime highs, the market keeps running. You You're just saying top blast never sell.

[00:53:35]>> Yeah, basically. Wait, I'm going to find it.

[00:53:43]>> I was sharing it like a week ago.

[00:53:46]>> Bullish summer, guys. Every summer, every year.

[00:53:50]>> Last year was bullish.

[00:53:52]>> This will be the summer and then it's a disaster.

[00:53:55]>> Dude, last summer was so bullish.

[00:53:58]>> Last summer, >> yes. Was it >> things were going ballistic?

[00:54:05]>> I don't even remember last summer honestly.

[00:54:09]>> We were we were distributing.

[00:54:11]>> That was a great trade.

[00:54:12]>> We were distributing.

[00:54:13]>> Yeah. So the so the start is since 1988, sorry 1989.

[00:54:25]And if you invested at all-time highs versus any other time periods, you would have outperformed not by much, right?

[00:54:35]But on a one-year basis, 13.6% versus 11.9. On a three-year basis, 46 versus 39. And on a fiveyear basis, 82 versus 74. So, it's not by much, but it's interesting.

[00:54:55]And it's done on SMP average forward total returns >> unless you do that on crypto. Don't do it on crypto.

[00:55:11]>> Don't do it on crypto.

[00:55:13]Yeah, I know.

[00:55:22]Do do you see that guys?

[00:55:27]Where are you going to draw that circle on Van Egg?

[00:55:37]>> My opinion's this one.

[00:55:40]This little blip that we had.

[00:55:42]>> Yeah.

[00:55:45]Yeah. Then what? Bitcoin from there tripled.

[00:55:50]>> Or perhaps we are just to get it.

[00:55:52]Perhaps perhaps it's like that.

[00:55:58]>> That's kind of what I've been thinking about with the AI trade where, you know, when Nvidia was at 500 and we're all kind of thinking, you know, uh this has got to be a localized top, you know, just hit like a trill in market cap at that point. Um and it just kept going. like it just keep it just keeps going you know I think that that's where largely you know big chunk of people's mindsets are at is you know oh we're in a bubble things are overvalued that means we're probably topping but I mean the bubble can just keep bubbling you know >> yeah I mean I've seen the the valuations you know comparisons from today versus or at least like from you know the past months or so maybe not literally today but of the current time versus the com and it ain't anything close to that so I think it can keep bubbling and obviously like nobody can tell you it's going to be exactly like that but there is definitely something to to this in my opinion like you can't even see this [ __ ] little sorry but this this little one right look at that interesting Like I I can imagine some people will be like totally fomoing here and they will feel like geniuses, you know? Maybe there is like a FOMO, right? There is a correction.

[00:58:06]It's like, yo, I'm going to just hold through it, right? Boom. Yeah, of course. I'm a genius. What could go wrong?

[00:58:13]>> Mhm.

[00:58:16]I don't know. I don't know. I I was just going to share this frapple or like this period of the parabola cuz I found it interesting.

[00:58:54]I don't know why this just really made me want to catch a cheat. I'm probably going to go get one after this.

[00:59:02]Sounds glorious.

[00:59:07]>> Monday morning coffee and it's different.

[00:59:10]>> Actually, no. I'm going to make one because I have a thing that does that. I can't even tell you how much money we've saved on coffee from buying like a decent coffee machine. I mean, oh my god.

[00:59:24]>> If it could make matcha, I'd buy it tomorrow.

[00:59:26]>> Matcha.

[00:59:28]>> Yeah, she has matcha, >> dude.

[00:59:32]>> I can't.

[00:59:33]>> You know what's a really good combination that's underrated is a matcha espresso combination.

[00:59:40]It was such a co thing for me at least for like three months and I haven't gone back to it.

[00:59:52]This >> the good news is if this is real like let's say the the parabola would play out the same is that technically there could still be like >> what 14 months of bull market >> because this is a monthly time frame and this is a 3D obviously.

[01:00:21]What about the market caps at the time though?

[01:00:26]>> Yeah, it's totally different. Like Bitcoin was a tiny market cap asset.

[01:00:32]>> What was what is SMH's market cap?

[01:00:37]>> It's a It would have to be a combination of like >> Yeah, >> you know, Nvidia and and stuff like that. So it's enormous. Yeah.

[01:00:57]>> When are we getting the SpaceX IPOM?

[01:01:00]>> Should have happened in April. They pushed it back >> like July.

[01:01:04]>> Yeah, they pushed it back.

[01:01:10]I think they're honestly just trying to raise more and more and more capital.

[01:01:15]>> Who do you think does the apo first? Uh SpaceX or Open AI?

[01:01:22]>> SpaceX. Yeah.

[01:01:26]>> Yeah.

[01:01:28]>> Will it be the top of the bull market?

[01:01:33]SpaceX >> and open AI.

[01:01:40]>> I kind of torn where I'm like I could see it being like a Trump and Melania kind of moment for the stock market. Um like truly >> just the fact we are like referencing to Trump and Melania effect. It's funny.

[01:02:01]>> Yeah.

[01:02:09]It's hard to imagine it not being a top like even with me being optimistic right now. I mean that is just like I mean what like three companies back to back to back all launching at over a trillion dollar market cap.

[01:02:30]Like I don't know like how does that create bullish flows or liquidity? That's my like that's what I wonder.

[01:02:42]Just depends on if that money comes back into the market.

[01:02:47]Gosh, I don't know.

[01:02:51]Is there is an argument for a wealth effect? I'd say probably more from Open AI than SpaceX, but obviously people are going to be gerillians on that seed round.

[01:03:17]Do you think it does kind of what Circle did where it sees like, you know, brief period of out performance and then rolls over?

[01:03:35]I uh I I mean I would imagine that it's not just going to be a brain deadad short at least, right? Like that. Yeah, >> almost feels like it's too easy to just blindly short that uh to short it.

[01:03:54]>> Jackis is really liking that fractal right now.

[01:03:59]He's massaging aggressively.

[01:04:02]Massaging.

[01:04:10]I don't know. I don't know what to think of it, but it feels stupid to Google.

[01:05:03]What if we could what if we could measure the parabola by by their stock splits?

[01:05:14]>> That'd be cool.

[01:05:19]They had one in 2024, one in 21, none before.

[01:05:51]Well, anyways guys, probably good time to wrap it up.

[01:05:55]>> Yeah, >> let's do it.

[01:05:57]Hopefully you guys enjoyed today's episode of Market Check. A reminder that we host this show live throughout the week on the following days when the New York Stock Exchange is open Monday, Wednesday, Thursday, and Friday. Our typical start time is around 11:30 to 11:40 a.m. EST, but sometimes we are too late BB. Um, nevertheless, we put on a great show for you all um each and every day. Uh so make sure to tune in again on Wednesday, but also make sure to finish up your day with market talk hosted by the legendary King Wabby. That is an X spaces uh obviously through the Because Bitcoin account hosted by Wabby. So make sure to stay following and subscribe to both so you can be notified not just when we schedule those spaces, but of course also when we go live. Also check out our new killer product, Trader X. um if you are looking to potentially automate your trading uh to kind of take out some of the manual pain or or kind of some of that pain of manual positioning and obviously a whole lot more. For starters, follow the Trader X account on X, try out the website. Um we've been working very hard on building that out here over the last year really and um I mean the product is phenomenal, guys. So give it a shot if you haven't already. Um but uh that that's it from us. We hope you all have a great rest of your day, a great rest of your week if for some reason we don't see you again.

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