Crypto Market Analysis! Bitcoin, Ethereum, XRP, BNB, & Solana!

Episode Transcript
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Speaker 1 (00:00):
Generally the price follows what they're doing, given you know,
enough time. Sure, So when you talk about this group
of holders, they've added about one hundred eighty four hundred
and fifty bitcoin over the past six weeks. That's almost
one percent addition just in six weeks, so that's a

(00:21):
massive amount. They're looking pretty pretty confident at the moment,
and I don't see that changing until.

Speaker 2 (00:32):
Hey, folks, welcome into the Thinking Crypto Podcast. I'm your host,
Tony Edward, and joining me is Brian from Santiment, and
as you all know, we are going to do a
deep dive into the metrics around Bitcoin and certain all
coins to see what is happening in this crypto market
and what may come next. Brian, great to see you.

Speaker 1 (00:49):
Good to see you, Tony. It's nice to be back,
and I'm excited to talk about a month's worth of
crypto as we saw another all time high here you know,
you went away.

Speaker 2 (00:59):
I've been on vacation and I think it was good
timing because September was pretty brutal. But most recently bitcoin
started picking up and we saw a major rally to
new all time highs. So it seems like Q four
we're starting to gain momentum here.

Speaker 1 (01:11):
Yeah, and you know, everyone's obviously trying to figure out
what the rest of the year is going to look like.
We were talking before we started recording about how despite
the all time high, we didn't see that you know,
euphoric over the top fomo spike that we have in
the past. And I think a lot of it is
people just aren't quite sure what to make of the

(01:31):
inching up, inching down, being in quite quite like this
tight range that we've been in. But a lot is
going to depend depend on the FED rate cuts and
some other factors related to what the whales are doing.
So we'll jump into it.

Speaker 2 (01:45):
Yeah, absolutely, Maybe we can kick it off with bitcoin
sentiment how people have been feeling and looking at bitcoin,
because to your point, there hasn't been much euphoria even
though we're hitting new highs, and then bitcoin really just
a couple thousand dollars higher, you know, it hit at
previously the high at previously set. So maybe that's why,
right people are like, no, no, there's a bit of

(02:05):
disbelief here. I didn't see bitcoin pump two one hundred
and thirty five K, so I just cross over the
all time high by a couple thousand dollars exactly right.

Speaker 1 (02:14):
There's a big difference between bitcoin, you know, hitting that
one twelve k mark like it did back in January
right before Trump was elected. People went nuts there, right
because they're like, oh, it's the Trump pump. This is
just the beginning. And then that, because there was so
much euphoria, it ended up marking a huge top and

(02:34):
we just tumbled for the next three months until we
hit that pain point in early April with the tariff
announcements and all that. This time, it's like we just
crept above. You can see here in mid August getting
to about one twenty three I think we were like
one twenty three eight in total, and then here we
got up to about one twenty five eight at least

(02:55):
on coinbase. That's what we saw as the high. So
it was just a little two thousand dollars or inch
above the last all time high, which was pretty recent
less than two months ago. So it didn't quite feel
like the same celebratory fomo fest that we've seen in
the past. And you can see, I mean this gold
line here, as we've gone over in previous videos, represents

(03:17):
the ratio of all the bullish comments versus all the
bearish comments. And as you'd imagine, when we get super bullish,
that tends to be when we see tops. When we
get super bearish, that tends to be when we see bottoms.
And there really wasn't much of anything here. We saw
something a little at the beginning of October, didn't impact
price as much because it's not nearly as euphoric as

(03:39):
some of these previous ones. And then the all time
high happened here and it was like a modest run
of the mill type of reaction from the crypto audience.

Speaker 2 (03:50):
Yeah, it makes sense. I think there's like we were
mentioning earlier some disbelief, and then you coupled that with
some macro factors, and then September was so brutal. You know,
after bitcoin hit that high in August, they it was
the big pullback and it got even worse in September.
So I think people are a little bit jaded, like,
I don't know, is this a fake out, is it

(04:11):
a bull trap?

Speaker 1 (04:12):
And that type of thing, right exactly. I mean, from
a percentage standpoint, it wasn't the worst thing in the world.
Like if we actually go from you know, the previous
all time high until right before the rally at the
end of late September, bitcoin dropped eleven percent. I think,
if anything, it was brutal for people because of the
lack of movement when they thought we were going to

(04:33):
see a huge rally, So it was like a big
defeating of expectations. And then of course October happens, and
so far Optober has matched with its name and people
have been excited about it. Part of that was due
to the late September confirmation that we were going to
get rate cuts, and now we're back in this position

(04:54):
where we're waiting for the next rate cut. The probable outcome,
according to polym Market and other news sources is we
see two more rate cuts of twenty five bps. That's
what we had back in September. We expect the same
in October, and I believe November. I don't either November December,

(05:14):
but regardless, that should fuel crypto up a little higher
because crypto is again partnered with you know, tech stocks
in particular, but the S and P five hundred in general,
as you can see illustrated here, has really correlated tightly
with Bitcoin, going all the way back to twenty twenty two,

(05:35):
really when those FED hikes were starting to ease the
COVID cuts that had happened. So three and a half
years now, we've seen this green and blue line representing
Bitcoin and S and P five hundred respectively, just kind
of partnering and going a little a little below each other,
but eventually playing catch up and staying very tightly correlated.

(05:55):
So the idea is more rate cuts will continue to
fuel the US economy and by an extension, world economies,
and because bitcoin's so tightly correlated, we continue to see
some all time highs there, barring we don't get any
surprises with these rate cuts. Yeah.

Speaker 2 (06:14):
Absolutely, well said, could we take a look at the
bitcoin mvr V. I'm curious how that's playing out. You know,
I remember you sharing that chart many times, and I'm
finally starting to grasp the concept of it, and I've
been watching closely. You know, bitcoin is above market value
below and things like that.

Speaker 1 (06:32):
Totally. Yeah. I mean, the big cliff notes with MVRV
is you don't want it to be too high above
zero percent. If you're looking to buy or hold, you
want it to be below zero percent, especially the short
term and the long term. If they're both below together,
great sign that bitcoin is undervalued and you're getting in

(06:52):
at a historic point where most people are in pain.
Therefore it has a greater chance of rallying. So right
now we see both both lines a little above zero percent.
That thing said, they're not in any sort of crazy
danger zone, you know, Like here you can see mid
July when the thirty day MVRV was plus twelve percent,

(07:13):
three sixty five day was above thirty percent. That was
a sign that we were a little overheated, and sure enough,
we end up slipping down quite a bit until we
end up hitting a bottom in early August. So where
we are now, thirty day MVRV is about plus two
and a half percent, so call that essentially even there's
really you know, unless you get an above ten percent,

(07:36):
it's a pretty negligible diversion. The three sixty five day
MVRV is at about plus fifteen percent, which does signal
a bit of caution. Right we just hit our all
time high three days ago before this recording, so I
would expect that there could be a little more, maybe

(07:58):
one to two days more of pulling off. Maybe people
buying the dip a little too ambitiously right now they
get punished. I won't say an exact price level that
you should buy in because frankly, we don't really do
things that way. I know TA traders have support levels,
resistance levels, we believe in them too. But sentiment's metrics

(08:18):
are all about valuation, you know, actual on chain metrics.
How the greed and fear are dictating the current position
that we're in. So it's showing me that we probably
could retrace a little bit more and if we get
this orange line back down to zero or a little
below zero, boom, that's an ideal time to buy. You
see what happened last time, it did just about two

(08:40):
weeks ago, so this would be the ideal by zone.

Speaker 2 (08:43):
Yeah, it's just such a great metric man. And like
I said, as I've been paying attention to it more,
studying it more. I'm seeing those cyclical patterns and how
does all correlates with sentiment and much more.

Speaker 1 (08:54):
It's so fascinating. Yeah, it's crazy to me because Bitcoin
obvious is obviously has gone up what tens of thousands
of percentage points over the past decade in price, but
the zero sum game remains intact because there's always people
that are panic selling taking a huge loss, and there
are people who take profit too early, and there's people

(09:17):
who make mistakes all the time that allow bitcoin's price
to keep going up and have an average of zero
percent when it comes to wins and losses, despite the
hotlers that have just sat on their bitcoin for the
last decade being up tens of thousands of percentage points.

Speaker 2 (09:37):
Oh yeah, And on that note, what are the whales doing.
I've been looking at the chart and I see just
mass accumulation.

Speaker 1 (09:45):
If I'm reading it right, Yep, it's looking great, to
be honest, some of the most consistent accumulation I've seen
in quite a while. Actually, if we just go to
this point in late August, August twenty seventh until now,
call it roughly the past six weeks, they've added about
one hundred When I say they, I'm referring to smart

(10:07):
money wallets that we call anywhere ranging between ten btc
held all the way up to ten thousand btc held.
And this group holds almost precisely about two thirds of
all bitcoin. Generally, the price follows what they're doing, given
you know enough time. Sure, so when you talk about

(10:27):
this group of holders, they've added about one hundred eighty
four hundred and fifty bitcoin over the past six weeks.
That's almost one percent addition just in six weeks, so
that's a massive amount. They're looking pretty pretty confident at
the moment, and I don't see that changing until you know,

(10:48):
they get relayed some signal that the FED rate cuts
won't happen. And right now, just like us, they have
the same information, and that is that we are going
to continue to see some rate cuts that will steam
the S and P five hundred further. Yeah.

Speaker 2 (11:03):
Man, you look at this and there's not as many
ebbs and flows. It's just like a straight trend line up, well,
you know, relatively straight. But yeah, to your point of
over this past year, it has been some pretty big
peaks and valleys. This is just like accumulate, accumulate, accumulate,
which is interesting.

Speaker 1 (11:21):
And we've had a lot of news right over the
first nine or so ten or so months of Trump's tenure.
Tariffs caused a lot of uncertainty. Doesn't matter if you're
a whale or not, you don't know what does tariffs
truly mean. So people are you know, taking profit accumulating
on the dips, all sorts of stuff. War in the
Middle East or potential war, the resolution that was just

(11:45):
announced where Israel and Palestine are supposedly putting things on pause.
We don't get into the politics of it, but we
do get into the market reactions of this news and
the reports, and both retail and institution institutional traders alike
are pretty happy with the news that, you know, the

(12:06):
potential of a world war goes down a few ticks
when you hear about Middle East resolutions. So all of
this combined has led to a bit of a state
of calmness where really the only major thing on the radar.
I'm not saying there isn't other news, but the only
major thing is really the FED and making sure that
rates get cut to ensure further growth.

Speaker 2 (12:29):
And it's fascinating, Brian, because you know, we were looking
at MVRV recently, just recently, just a minute ago, and
if you look at you know the point of when
these whales really started picking up their accumulation, it's when
bitcoin came down from that correction from its all time
high hit in August, so doing the opposite of the

(12:49):
retail herd right who started getting panicking. A board worried
about government shutdown, worried about this, and that they're just accumulating.
Man from that August like end of Augus into September
when everybody is like, oh my god, it's over the
top is in and much more.

Speaker 1 (13:05):
That's a great point. Yeah, even just this twelve day
stretch after that August all time high, they accumulated about
thirty thousand more bitcoin after bitcoin dropped about eleven percent here,
So as the retail was panicking and dropping their coins,
guess who was scooping them up? So and then something
happened here I'm not sure about this, Maybe something in

(13:27):
the news cycle in late August, I can't quite remember.
But after that and we've had this final little drop
down and bitcoin gets close to about one oh eight k.
They've just been on blast off mode ever since.

Speaker 2 (13:42):
Incredible. So on the other side of the token, what
do the ETF inflows look like?

Speaker 1 (13:49):
Yeah, so we actually just reported on it yesterday, but
we've had about one, two, three, four, five, six, seven
eight straight days now of MAJE inflows coming in like this.
This latest day was actually the lowest amount of inflows,
and that was about four hundred and forty million dollars.

(14:10):
This peak here on October sixth, that's actually going to
be one day after what is showing on my mouse
cursor here. But October six that over one point one
six billion dollars that day alone in inflows, which was
interesting because it was the top. This was the day
of the all time high here, and then we retraced.
So it's an interesting thing when it comes to inflows.

(14:33):
I still theorize in the long term, more inflows into
bitcoin ETFs is objectively a good thing. But when you
see the the massive spikes, you know, like here and here, here, here,
you know there's exceptions. But when I see the hugest
inflows I actually tend to see a lot of tops coming.

(14:56):
It's kind of like the initial inflows like here help
stimulate the rally, and then the highest day, like if
you get over a billion dollars all of a sudden
in one day, that's when you see a sudden retrace.
So it's it's a little bit of a tricky one
in terms of price correlation. I think it's nowadays so
many retailers or an ETFs in addition to the institutionals

(15:20):
that it isn't just whales driving these inflows and outflows anymore. Yeah,
that's true.

Speaker 2 (15:25):
And you know, to your point of seeing this on
the chart, you know, could a local top be forming
right here before a true breakout to you know, higher highs.
You know that's a possibility. We'll have to wait and
see how the data continues to play out.

Speaker 1 (15:39):
Yeah, and arguably maybe we already did see that all
time are our local top, and now we're going to
kind of go into a bit of a bull and
bear battle for a few days. Like I said, the
MVRV getting below zero would be great, and then we
might resume plenty of inflows coming in and we get
another one of these kinds of So I think that's

(16:01):
what a lot of us are hoping for.

Speaker 2 (16:03):
Oh for sure. And even if, for example, like the
ebbs and flows of the inflows, I don't said a
lot of flows there. If you look at April right
with the big spikes, the price kept going up, there
was a pullback, then there was additional spikes, and we
ran up to new highs. So doesn't mean that, you know,
as you mentioned, just maybe a micro local top pullback

(16:26):
then we keep going like that can happen.

Speaker 1 (16:30):
Yeah, I agree, I think there are there are better
leading indicators right than this, like MVRV, I would I
would rely on more, But I think this is more
of like a almost like a utility measure, right. It's
the amount of people who believe in the long term
a bitcoin and the more money that's coming into it
over the long run, the more crypto in general has

(16:53):
a place to stay for the indefinite future.

Speaker 2 (16:56):
Oh, absolutely, all right, let's jump to some all coins.
Let's look at Etherorem and what you're seeing on that front.

Speaker 1 (17:03):
Yeah, let's start with Ethereum's MVRV like we just did
for Bitcoin here. So Etherorem's actually looking a little better
than Bitcoin in terms of its short term MVRV. Obviously,
it's stayed in that range, in the kind of forty
five to forty eight hundred range. I think it got
up to yeah, forty eight thirty one or so back
in August and hasn't quite been able to reach a

(17:25):
high or high since. So you can see over here
on the far right, the thirty day MVRV and orange
is about negative two and a half percent. The long
term MVRV representing the average ressurns of traders that have
been active in the past year is still pretty high
at plus twenty six percent. So this is a bit

(17:45):
of a Jackal and Hyde metric where you can probably
justify adding onto your position for a short term swing trade,
but you still want to be a little cautious if
you're planning on, you know, expecting a three to five
in ethereum over the next year, while so many people
have already profited and gotten that whatever three x in

(18:11):
something like the past six months or so.

Speaker 2 (18:15):
Interesting and then you know, what is a sentiment to
round ee theorem? Are people feeling bearish? Are frustrated about it?
I'm curious about that because I think if you remember
early in the year, people were like, oh, Etherorem is dead,
it's not moving and all that.

Speaker 1 (18:33):
Yeah, great question. I mean that was what we were
reporting on back here in April, Like Ethereum's negativity was
super prominent, and then all of a sudden we get
a rally and finally we start to see that euphoria later,
but now we're starting to see some of that familiar negativity,
not quite to the same level of fud where there
were like more bearish comments than bullish comments on a

(18:55):
daily basis. That's a pretty big sign that we are
seeing a bottom pretty soon, which, by the way, XRP
is seeing a lot of that, and we posted about
the fact that XRP is seeing a lot of fund
But at least Ethereum's mood is starting to look a
little more gloomy again, which is a good sign. Yeah,
retailers are probably a little impatient moving on to the

(19:18):
next greatest thing because they think that the rally's over,
so that again I think could fuel some short term
good results, but again the long term, because there's been
such a rally already and there have been so many
realized profits among Ethereum traders, we may see a little
bit of a cool down even with the negative sentiment

(19:39):
becoming more prominent again.

Speaker 2 (19:41):
You know, Brian, and back in the day, when I
wasn't educated about these things, I would have looked at
the sentiment as like, oh man, this doesn't look good.
It doesn't mean it's gonna pump. But now I use
it as a contrarian indicator. I wanted to be fear.
I wanted to be people to get discouraged and depressed because.

Speaker 1 (19:57):
We've seen it time and time again.

Speaker 2 (19:59):
You have to reverse happening.

Speaker 1 (20:01):
Yeah, because when you first get into crypto. You see
all these KOLs with millions of followers, and you're like,
these guys have to be such geniuses. They know exactly
what they're talking about. Oftentimes they're just like us. Then
maybe they have innocent you know, analysis in mind that
they just want to share with the community, and maybe
they're intentionally sharing stuff so they can do the opposite.

(20:23):
But the majority of all of this chatter, like ninety
something percent of it is coming from very tiny traders
who are just speculating about the price and what are
the majority of very tiny traders end up getting as
results losses. So that's why they are really the perfect
contrarian indicator when you look at them as a whole.

(20:44):
In all of their comments about bitcoin ethereum, what have you.

Speaker 2 (20:47):
You know, you mentioned XRP. Maybe you can just jump
to that because to your point, you're seeing very similar sentiment,
a lot of negativity and things like that.

Speaker 1 (20:56):
Yeah, so we reported on it when we saw this
and this, these were like the two most negative spikes
we've seen all year on XRP. And yes, it's continued
to follow a bit, mostly because crypto's retraced just over
the past three days. But the fact is xrp's overall sentiment,

(21:16):
you know, just eyeballing an average sentiment since April, it's
definitely going like this, right, We're getting less and less
positive comments relative to negative comments, and that means people's
moods have soured on the number three market cap and
they are going to be results oriented. Of course, many

(21:37):
people might still be long term, very bullish on XRP.
And we don't have anything bad to say about XRP.
We think we know their team well and they're very
impressive and what they're always working on. But the fact
of the matter is if we go back to mid
July here to now, their price has dropped about twenty

(21:58):
two and a half percent, and that's going to of
course result in retail traders starting to get a bit
sour on it.

Speaker 2 (22:05):
Yeah, and then you take into consideration BnB just took
the number three spot away from XRP, so the sentimenting
point they're starting to pany great and.

Speaker 1 (22:15):
XRP is actually showing at number five now. So I
just said number three. I think Tether's at number four
if I'm not mistaken. Yeah, for sure, we go to
let's do a quick check on that Teather's showing is
number three. Maybe it's you know, one day delayed or something,
but either way, sure, Tether and BnB are going to
be very close in market cap right now. And if

(22:38):
we look at BMB, which I know we wanted to
touch on, look at this price trajectory, it's just absolutely
insane since since the tariffs started to make crypto great again.
All right, So their price if I can grab the
very edge here and see the percentage even after this retrace, Yeah,

(23:00):
they've more than two x'd about plus one fourteen percent
in the past six months. But look at their sentiment.
It really isn't doing anything special. It's such an ignored
asset compared to some of the other top caps, you know, Solana, Swee,
Chain Link, XRP, Cardona, they all got so much more
discussion and speculation and social media debate compared to BMB,

(23:25):
which is just kind of known as Binance's native token.
So it's quietly going up, Tony, Yeah, I don't know
what you think about it.

Speaker 2 (23:34):
Yeah, I have some thoughts on that because and I
think who was I talking to it about this? A friend,
you know, because they were like, oh, it's ripping and
all that. But there's not like, it's not like Solana
or etherm or something, and where people are actually building
their communities, their memes, they're whatever. Right, it's an exchange token,
and that's kind of boring, like, okay, we know it's

(23:55):
Binance's token. And then you think about just about maybe
a year ago, there was a lot of regulatory uncertainty
right before Trump came into office, and people were like, yeah,
I don't know if we want to touch finance because
he just got They just settled, right, and Seazy went
to jail and all that stuff. So there's not much
to be excited about, even though if you're holding the
ASCID you're making money, you know, depending on your entry price,

(24:16):
of course, but it's not there's no appeal outside of okay,
the acid went up. It's not like a community or
anything like that exactly.

Speaker 1 (24:25):
But you know, when you see an ascension like this,
you know, regardless of the gold line here kind of
looking underwhelming. When I highlight the positive sentiment, look at
that big green spike that happened right as it made
that all time high, and even the negative sentiment was exploding,
you know, to a lesser extent, of course, but both
were just through the roof here, and that was indicative

(24:48):
that we were at least finally getting it on the
radars of some traders who normally ignore it. And that
is very often a signal of a local top. It's
a little faint to see, but like you can see
the green line here correlating with that local talk back
in late July perfectly.

Speaker 2 (25:05):
Sure.

Speaker 1 (25:05):
This one was a couple of days before the local top,
and then this one right here nailed it. So sometimes
it's less about the ratio of bullish versus bearish, and
you just look at the overall amount of positive commentary
flowing in and you can go, well, I think retail
has has latched onto this coin. I better take a
step aside until they cool their jets a little bit.

Speaker 2 (25:28):
Yeah, and you know, we've talked a lot about in
this market, every dog has its day, right. We've seen
Solana at the early stages this bull market lead and
just run up xrp Q four twenty twenty four, right
with the Gensler sec narrative, eth grabbing the mantle a bit,
and now it's BnB.

Speaker 1 (25:46):
So it's like these.

Speaker 2 (25:47):
Top ten coins can all go through that cycle. And look,
there's other coins that have this, but you know, we're
talking about the most liquid assets in the market gap,
but they will all have their day running up right.

Speaker 1 (25:59):
Totally, Yeah they. I mean, it's been such a cyclical year.
You've seen meme coins have their moment in the sun,
AI and big data lately, privacy coins. I just put
an article out you guys can check it out on
our insights page all about you know, the narrow and
some of these privacy tokens that have ascended just in

(26:21):
October itself. All these tokens have their moment in the sun.
If we talked about ethereum at the beginning of the year,
people were laughing at it, right, and now we're looking
at it like, oh, it's of course it's the number
two market cap asset. It's bitcoin junior, it's always going
to be one of the most dominant forces. But people
were already writing it off and going, oh, it's eventually

(26:42):
not even going to be in the top ten less
than a year ago.

Speaker 2 (26:46):
Yep, I remember that it was so bad, man, I know,
I don't think I've always seen it that bad for
eth Really quick, is there an MVRV for BnB and
even XRP that you can share.

Speaker 1 (26:58):
That's a good question. I'll just check live on camera.
I don't mind, but I think because BnB is not
an eth based asset, we're going to be more limited. Yeah, okay,
so we don't have average returns. The best we really
have is that sentiment I showed, as well as funding
rate we can look at, which is looking pretty modest.

(27:18):
So this is a good sentiment gauge because you can
actually see how many people are putting their money where
their mouth is and writing up the rally and it
doesn't look like it's anything too special at the moment.
So sentiment is pretty tempered, which is a good sign.
Funding rate is pretty tempered, which is a good sign.

(27:39):
And I'm just checking to see the overall discussion rate
as you can see, I mean, it made up over
five percent of discussions on the day it topped out
on Monday, and since then it's starting to come down.
But that's still a lot of social dominance for a
token that's normally not talked about very much. If there
is a good signal we have on Santsman right now

(28:01):
for it, besides sentiment, it's this social dominance line, because
that's measuring the percentage of the pie of all of
the crypto discussions that are going on, how much of
that is being taken up by binance coin And it's
still up at about four percent when it's normally I
mean before this rally, it's sitting at about half a
percentage point of that piece of the pie. So you're

(28:24):
talking about eight to ten times more discussion than normal
for the number three market cap right now. Wow.

Speaker 2 (28:32):
Yeah, I look even myself from a social perspective on
x we had to post about BnB can ignore it.

Speaker 1 (28:39):
It was just doing some incredible stuff.

Speaker 2 (28:43):
What about XRP mvrvi.

Speaker 1 (28:44):
It So xrps is looking good on the short term,
there's definitely an opportunity forming where it's at about negative
five percent. Like I said, it's taken quite a beating
going back to mid July, so the retail mood has
soured quite a bit, understandably considering the average returns for
short term traders or in eight to five. The long

(29:06):
term still in about plus sixteen because of this. Right,
So this is the June to early to mid July,
actually late June all the way to late July. It
was just on an absolute tear. So we're still seeing
the profits slowly regressed to the mean here over the
past couple months, but plus sixteen percent isn't too scary anymore.

(29:30):
I certainly see some justification to call this a bi zone.
Like I said, ultimately, you want to have something if
I zoom out. I think there was a moment way
back here. Yeah, So if you look all the way
back in October of twenty twenty four, about a year ago,
you see how they were both well below well below

(29:50):
zero together and all of a sudden, the people who
were buying, well it was super low that MVRV. They
get rewarded with a four x almost five x over
the next month and a half. So that's what you're
looking for, is the ideal byzone. But this certainly could
be a lot worse than it is right now. Yeah.

Speaker 2 (30:10):
And then you know a movie highlighted in June. I
think that's the one that took us a little bit
past the all time high. So it was super overheated.
So it makes sense what's happening now?

Speaker 1 (30:20):
Yeah, I see it way up at three sixty four.
Might have got a few cents higher than that. XRP
experts would know better than me, But the math says
we're in an Okay, spot probably better for XRP than
we are for bitcoin and ethereum, just purely based on
the mathematical returns of your peer traders.

Speaker 2 (30:40):
That are out there. Yeah, how about Solana. I know
we don't have MVRB on that, but sentiment and things
all those lines.

Speaker 1 (30:49):
Let's see how the mood has been for Solana. That's
a good question. Yeah, so it's it's kind of lukewarm maybe.
I mean, I'll just I'll take off the part over
here because there were a lot of bots going on
We've talked about on previous calls. So let's just look
at the last two ish months or so, and it
is creeping up a little on average, this gold line here.

(31:12):
I don't see anything too special indicating that people are
overly euphoric or overly bearish in anyway. It's just kind
of day to day. You know. Sometimes people are excited
about it, sometimes they get a little bit sour. You
can see this one was probably related to this mini
drop of about six percent. But you know, even just

(31:35):
this one day rally here, you get the sentiment coming
back up high. But Solana is looking kind of just
under the radar with day to day sentiment fluctuating up
and down. M Yeah.

Speaker 2 (31:48):
And you know, as we talked about before, all these
coins have their day in the sun, and I think
sometimes people don't realize their rotational liquidity, what the market
maker is, the whales you're doing, and they see maybe
their coin is not moving. Let's say there're a Solana
holding Oh my god, BMB is pumping. That means Salon
is dead. It's like, no, just rotation. Just got to
be patient and you.

Speaker 1 (32:06):
Got to monitor rotation.

Speaker 2 (32:08):
Yeah, and you got to monetary to sentiment and like
things like mvr V to see where you're at and
then you can get an approximation of what's going to
come next.

Speaker 1 (32:16):
Yeah, exactly. It's so much of it is just getting
in on the ground floor when nobody's paying attention to it,
like Ethereum in the beginning of the year. But you
do see that, you know, on our social trends page,
BnB is number one. Understandably, Solana is still at number two,
which is fascinating to me because the sentiment is kind
of just you know, fluctuating up and down. But it

(32:38):
says there's some active moderation controversies on the Salona subreddit.
Frea Conventions and crypto trading project launches related to the
Salona blockchain, and significant developments such as the launch of
the world's first Salona ETF was staking by Fonte Capital.
So I think ETF hype is going to continue to
have Solana live and die on it until it's confirmed.

Speaker 2 (33:02):
Very interesting, good stuff, Brian. You know now that you're
back and you know we're in the midst of Q
four a bit here.

Speaker 1 (33:10):
Uh, you know, maybe we're.

Speaker 2 (33:11):
Going to see our next few episodes or four episodes
or so. It's going to be very interesting if these
this rally continues and we go into the parabolic phase.

Speaker 1 (33:22):
Uh, that would be great.

Speaker 2 (33:23):
Yeah.

Speaker 1 (33:23):
I mean, one thing's for sure. I don't think the
final stretch of this year is going to be boring
right now. If all things align and we don't get
any major shakeups, I think it's going to be a
good end of the year, and I'm excited to see
how it plays out with you every couple of weeks here.

Speaker 2 (33:40):
Absolutely good still, Brian, Thank you so much.

Speaker 1 (33:44):
Thank you, Tony. Talk to you soon.

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