[00:00:01] Speaker A: Welcome to Crypto Talk Radio, the podcast for everyday investors like you. Visit us on the
[email protected] and now here's your host, Leister.
[00:00:13] Speaker B: Thank you for that, Bailey. And welcome, everybody out there in Crypto Talk radio
[email protected]. hello there and welcome back. Hopefully you got your taxes filed and processed timely. You might be questioning why I'm asking so late after April 15th. It's because I know not everybody files crazy early. I'll tell you, I was waiting on freaking Kraken. They didn't send me their doc until like a week before.
And I have a lot of these different things because a lot was going on in 2025 that kind of threw off what I was trying to do.
So it took me a while to get everything filed. Then I had to file it physical for reasons I'm not going to bore you with, but I had to file it in mail. So I had to get the, you know, the envelopes and the stamps, get it dropped into a mailbox. The mailbox is straight out of the ghetto.
It was horrible.
So I got out the door, I saw the tracking, saw it was moving.
Now I got to kind of cringe and wait and see what they come back with because it was a tumultuous look it up. Time 2024 and 2025. It's past now, but now we got to see what's next on the horizon. Couple of quick events in today's episode should be pretty short.
Coinmarketcap.com will zoom out to the month chart starting with Bitcoin, where we see hovering close to $76,000 with what appears to be a slight upward trend, but more in the middling range.
I saw a couple of people, DaVinci, Jeremy being one of them, that said we were on the way up.
The reason I say it's middling is because there's not any.
What's the word? Strength behind the climb. It's like fake. It looks. It looks phony to me. So it's up, but it's not strong up and it's at risk of going down. So it doesn't seem like downward, like strong cell pressure, rather a lack of strong upward pressure. That makes sense. That's why it's middling.
Kind of holding the line. Some people came out on articles and talked about how, you know, strategy bought a whole Bunch More and BlackRock bought a whole bunch more. And these are not moving the charts.
Well, quick and dirty.
I said before that. Starting to get a little Bit too centralized for my taste. Is it possible others have unplugged from the matrix? They're smart about it and they understand when you have someone like a blackrock or a strategy or these large players holding big bags of it, the level of risk increases, not the bullish sentiment. Is that possible that that's what we're seeing? I can't say I'm asking the question. I said a little bit too centralized for my taste. I don't like seeing them scoop up as much as they're doing.
And it's possible people. I saw another chart and they tried to sell the narrative that more people own bitcoin than own gold. And just to put in perspective the flaw of that statement, somebody can own a hundred satoshis and technically be a gold or bitcoin holder. That's not. That's not the measure. Okay. You have to look at how much do they hold and the percentage of their portfolio. The percentage of their portfolio gives you a measure of how confident they are in that asset. Because I guarantee you those that are holding bitcoin are not holding a crap ton of it. They might have $100 worth or whatever because they were told get a little bit of it now because it's gonna go to a million dollars or something. That's. That's what many people have done.
They're not holding significant amounts of the stuff. The reason that not a lot of people might be holding gold right now is simply because the price of it's too damn volatile. I said gold is over inflated. It still is. It's over inflated in the price. That said, I did buy a few items of gold, but they're, you know, the gold backs. Because I'm a fan of the goldbacks. I love the goldbacks. I think they're amazing.
They're just slightly overpriced. Did you know that the goldbacks these idiots discontinued the hundred denomination?
Absolutely. I understand their thought. It's like, it's expensive. It's the. I get it. I don't agree with it. I think it's a bad move.
However, it means that if you bought and you have the hundred denomination, you have now a collectible in your possession if you own the hundred because they're not going to be printed anymore. And I happen to have a hundred. I think I've got the Arizona 100 and the Florida 100. I believe that's true. I don't think I got the Oklahoma 100. I think that one was ugly. I'm looking at it right now.
No, the Oklahoma was fine. I think I just couldn't justify it. But I did get.
There was a Marilyn Monroe.
I think it's a half or something.
I got one of those that was pretty cool and it's got a, a coin and that one's pretty cool. So I got a couple of these little collectible ones.
But I have not bought like bars or any of that kind of stuff ounce bars or silver in it because the bite the price was volatile. Silver is still a good price, but it was just volatile and I was holding off on it.
Gold I still think is over inflated. Honest. I'm being honest when I say that.
So for me you have to decide if it makes sense for you. I just was not going to do, at least not at this point until I see some kind of stability in the price.
By the way, as of just recording this, I did buy some. It's called an Electrum note. It's on JM Bullion jmbullion.com and I've been waiting for that one for like two years because it's been out of stock and it just came back in stock and they don't, they don't alert you? I'm on the list, but they don't alert you. I just, I just saw it's in stock and I just bought two of those because I really wanted that dude.
Anyhow, for the remainder of the episode I'm going to be briefly discussing this whole Rave Dao crap and I'm not going to go deep into what's happening. If, if you are interested, please do some searches on it. But it's just yet another of these layers of crypto where they're doing too much and they're putting themselves at risk.
And unfortunately Zach XBT is involved, which is part of the reason I'm not going to go deep in it because I don't want to give him any sort of, any sort of exposure. But the high level of the Rave Dao situation is a good lesson to be learned for other projects that I will not name that have talked about doing something similar that may result in a similar outcome. And so it's important, I think to discuss it so I can share that information for people that are curious.
Rave Dao, what happened ultimately is a pump and dump launched had unreasonable climb. I think it started at like a billion dollars, went all the way up to like $8 billion and then crashed 95% back down.
Currently trading at a dollar 31 which isn't bad.
But the point is that this is this pumping up that happened, caused some concerns, now raved out, if you didn't know, was alerted, flagged on a lot of different places this started. I want to say it started like a $ish or something like that. Got almost as high as like 27 bucks. So we're not talking a chump change here. Fully diluted value of $1.6 billion right now. So this is post the crash that happened and the problem with projects like this and coins like this and everything that's happening with this kind of a business.
The problem is that they're heavily influenced and you might not have known that this is happening, but they are heavily influenced. They're influenced by avenues you didn't even think were possible. You might be surprised to understand that even some of the exchanges are complicit in some of the behavior that you see. It's not just the token project. Sometimes it's not the token project at all.
It could be, but not every single time.
So this got on Binance, what they call their alpha trading deal, and it was on Coinbase. Coinbase jumped right on the damn thing, which is, you know, that's sketchy as it is, right? Just how the fuck. Because come on, this is not. This project is not anything significant. And I want to stress something.
This has been out since December.
Okay, so then why does it all of a sudden have this magical pump and dump that occurred? So it as of April is roughly about when it started climbing for no damn reason. So it's sitting around a quarter for the longest time. Quarters actually its low point, sitting around a corner, starts pumping up for no reason. Pump, pump, pump. 2, 9, 11, 16, 20.
It just nuts, nuts level pumps for no clear reason that anybody can ascertain. And then all the way back down, not to its bottom. I mean it's still up, you know, reasonably 5x from the base. But the point is that this type of behavior is ironically very similar to what happened with Hotchko. H A C H I which by the way was traded on Mex C when it had its that it occurred that if you look at the graph, it's very similar to what happened with Hotchko. And I said that I find it very intriguing personally that such a thing could happen to this kind of a project. But it didn't surprise me and I told people, you're going to be gambling if you hold on this thing.
So the whole rave, what happened with this one May, and it didn't happen with Hotchkooks. I don't think it had that active. But what happened with Rave?
First, give me some background of what's going on.
As it says Dao, of course, it's supposed to be decentralized and autonomous and community owned. It's supposed to be protected and all that other garbage, right? That's how DAOs are supposed to work. So you would expect that Dao should be reasonably safe.
Zach XPT put out messaging that claimed that insiders, as in people in the project, held on to 90% of the supply.
So for a Dow, the whole point is that your stake, however much that you might hold, should lend itself to the strength of your voting power.
So if it's true, and I can't say it is, but if it's true that insiders held a significant amount of supply, it means they were influencing votes in their favor to your detriment. That's what that means.
Made claims that roughly 75% was in one wallet and then the rest around two other wallets on the side.
But more significant, they talked about the supply being concentrated. We talked about that one with the single but also perpetuals and that the perpetuals were really the death knell for the project.
Well, how does that work right now, the Rave that when it, when it was trading and even right now, if you were to go look at Rave Dao on Coin market cap, which I encourage you go take a look at, and you look at the depth column. When you look at where the exchanges are and you look at the depth column, that's the important takeaway is the depth column.
Here you're talking less than a hundred thousand dollars.
Well, that's not bad. But then if you look at like Bing X, Bing X is less than $4,000. Kraken, it's on Kraken, it's less than $20,000. Bitmart's less than $3,000. XT is less than $200.
The spreads, as it's referred to, of the death, don't make any sense across exchanges. And yet all these exchanges were all too happy to list this garbage.
If you look at one called Echo Bit, which I hadn't even heard of, but echo bit has 3 million on its depth, I can almost guarantee you that's going to be fake wash trading traffic. I could almost guarantee it. I can't full guarantee it, but I can almost guarantee that it's highly unlikely, that is legitimate trades just because of what it is. When I looked at the order book, then on Echo Book, Echo Bit side, what do I see?
Basically less than 200,000 per and it's a reasonably stable stable amount but its volume is only 274,000. 24 hours is 400,000.
Yet it's high is right now $2 or just shy of $3. Low is a dollar. So make it make sense. 3 million in spread. Yet over the last 24 hours you only have 400,000 in volume.
Really of dollars really, but yet you have 3 million on your spread. Something's not clicking. And that's why I say I'm almost guaranteeing that that's going to be fake wash trading because it just didn't make any sense. Biconomy is basically dead. Femax is less than a thousand. So then across exchanges none of it made sense. Then if you look at liquidity, this is where it really got sketchy.
If you look, there's a crap ton of liquidity pools on Uniswap V4. That's the vast majority of their liquidity source is all spread across Uniswap V4. Well, why are there so many liquidity pools? It's not necessarily a problem per se. It means that you can actually trade it on Uniswap. But if you look at the price differences amongst the different pools they don't add up. They don't make any sense. One is 68 cents, one is $22.
It doesn't make any sense. And the one that's $22 has significantly less liquidity than the one that's 68 cents or the one that's a dollar 60. The one that's a dollar 60 has 10,000. The one that's $22 is 58 or $500. Five hundred and fifty eight on the liquidity.
I will simplify that best I can.
This has to be artificial, it has to be fake. There's no reason to see these kinds of price discrepancies the way that I'm seeing them. It's got to be artificial. If I didn't know any better and I cannot say it's exactly what happened but if I didn't know any better I would swear that they set up on Uniswap because it's an ethereum token. So they set up on Uniswap they actually have some V3 pools but V4 I think has more automations to it. They set up on Uniswap and then they scripted a bunch of different market maker tools to create liquidity pools as well as fake wash trading on those liquidity pools. If I didn't know any better I swear that's what it is. I'VE never seen this many pools, this many Uniswap pools on any one project. And a damn sure have not seen this kind of disparity with the different volumes. Then on Pancake Swap, which also has a pair $125 billion in volume, over 2 million in liquidity, pancake Swap has the largest liquidity for an Ethereum based token. And I did not see, I did not see that it launched on Ethereum or excuse me, on Binance Smart Chain. Looks like it launched on Ethereum, evident by the amount of Uniswap pools that I see. It does have a Binance Smart Chain variant, but it looked like it launched on Ethereum for what I can tell. So it launches on Ethereum. Yet Uniswap does not have the vast majority of its volume or liquidity. Pancake Swap does.
I'm just, I'm just going off what I see. None of it made any damn sense.
And what was speculated, and it was only speculation, I have no evidence, I'm just saying what was going off. This is again around these perpetuals, in this case, futures trading.
So what was talked about in this is you have this minimal depth.
It's easy to influence the price up or down when there are these trading derivatives, right? So let's say shorting, okay? You do a whole bunch of shorting. So you're shorting, shorting, shorting, shorting, shorting, shorting, shorting. At some point your depth's going to slim up because of what's happening. And what they're saying is that the artificial, I'm saying it's artificial, but what they're saying is that the, the buy pressure just hit and started pumping the price liquidating the shorts, causing a significant spike. Because all that's being bought up, it's being bought up and it's taking away the supply, right? So it's creating a crunch on that high.
Then they dump.
So what I'm saying is that from what I can tell from what's available as far as exchanges, it looks to me, and I cannot say it's the case, but it looks to me that that's what, that's what somebody did, that they purposely created liquidity positions that were designed to set off a pump and dump situation using futures contracts and shorting and the ability to influence price by. It's like a rubber band effect, right? You're, you're pulling back, pulling back, pulling back, short, short, short, pulling back, pulling back until it can't hold anymore.
Then it, then you're getting liquidated price Then skyrockets, right? And then they dump at the very, very top.
Now, the question came up mostly because of Zach XVT about are these insiders, people on the inside that were influencing the price because of how many tokens they were sitting on?
There's no, I can't say that that did or didn't happen. I'm saying that from what I see, it looks like there was a strategic plan to create an artificial pump and dump situation using the derivatives markets by creating short and shorting activities and then off liquidations of those shorts.
It does a buy, so they're getting liquidated, does buy, and then the price spikes up.
Then they dump at the top. So they're sitting on a major bag at that point. They dump at the top and it just kills the price. Now, the reason that I'm. I'm not certain and the reason I'm not 100% sure, in order for that to have fully succeeded, there had to have been sufficient on the liquidity pool itself within the one or two or three major exchanges that did the vast majority of that traffic. So Pancake Swap still has a crap ton of liquidity. So we don't think it was there.
It feels like it was all Uniswap based.
If it was Uniswap based, does that mean that regular traders were trapped in there? Like, I don't understand how that would have worked because it didn't seem like it was central exchanges. Maybe it was, but it didn't seem like it was. It seemed like the vast majority came from Uniswap. From what I can tell, Binance said they were going to do an investigation. It's Binance Alpha, it's not the main Binance. So I didn't see significant traffic. There's Coinbase, I didn't see significant traffic, but Coinbase has sketchy shit anyway. I didn't see it. It could have, but I didn't see it. Kraken didn't seem like it had significant. Like many of these didn't seem like they had significant and they just were trading in good faith. But I'm still wondering why the hell a lot of these large tier one exchanges chose to list this crap. And this told me, if it's not an insider that did the pump and dump, it certainly had to be an insider that was colluding with one of these exchanges, one or more of them, because it made no sense. Like, why are you listing this garbage? It doesn't make any sense. I didn't see any logical reason why it should be on Binance or Coinbase or Kraken or any of the larger exchanges at all. It didn't make sense to me.
Maybe there's something there that I was not aware of. But this pump and dump seems to correlate to what I'm saying that I didn't see that there was a logical reason they would be listing this garbage. From what I could tell, the reason that this rave dao is relevant right now is because another project I won't name talked about wanting to get on futures trading and they wanted to enable futures trading on a couple of exchanges. And I said that the only logical reason that you would want to do futures trading is to trigger a pump, right? And so if it's true, I don't know that it is, but if it's true that the plan is to enable futures trading, my caution to you is any project that says they want to get on futures trading right out of the gate, you should be wary of it. It doesn't mean you don't have an opportunity to make some money. I'm saying you should be wary of it because the assumption is that you'd have a bag that you could sell, then you got to time it, then you got to be patient with it. Like in this case, if its bottom was 20 cents, which it was, that means it hit 100x. Okay, a hundred x is a lot.
Billions of dollars. 100x is certainly a lot.
But it was 20 cents starting.
You had some other project, like Saitama did the same thing. You had some other project and it's starting with like four zeros or three zeros or something, and it's able to drop three of those zeros. I mean, that's significant for somebody that put just a small amount of money in it right now.
And that might be the plan.
So you need to be cautious if somebody's doing some shady moves to try to do a dump off later. But if they then said, well, you have those and you could sell them and you could, it's on you now.
So take this as my caution, my cautionary tale to you. If you have the opportunity to sell and you see there's an opportunity to time it right, to sell and make money, please don't sit on it, don't just waste your fucking time and consider again, I said it the last time.
If you have an opportunity to get a significant amount of coins for a small amount of money, why not? It's an opportunity. I'm not suggesting you do. I'm saying if you have the opportunity to do it. And there's a chance you could get something, consider doing that. Don't worry about the coins that you might have already bought because it's possible they lost value or possible they didn't, or do nothing at all. Choice is yours and what you do. I'm suggesting there's a possibility that other projects will do what raved out, allegedly did, which is trigger a pump. Because if they're actively trying to get on futures, it's a strong bet they're trying to trigger a pump at some point down the road. Can't say that is exactly what's happening, but it's something that's worth watching out for. In summary, futures trading can be a positive thing for making money, but it also can absolutely, quote, wreck you, as the kids say.
And timing is everything. And the last thing I think you should do is sit and do nothing at all. But everybody's different. Everybody's situation is different.
I just don't like to see people get money took from them and they sit and whine instead of having an opportunity to get the money back and then walk away. Because it's a shady business all around. It's not exclusive of any one project, as we see with this rave dao that for mysterious reasons got on some of the best exchanges possible and it still essentially ripped people off. Even if it wasn't malicious. Let's say it wasn't malicious. Come on. But let's say it wasn't. Point is, they still ripped people off.
So we have to put that in perspective. This project over here that seemed credible enough to get on the tier one exchanges, all of them, even exchanges I'd never heard of, got on a bevy of exchanges, was trusted across the board, and then any crypto project can do the same thing to you. They all can do the same thing to you. So when I hear people claim that one project is a blatant scam and this other one's not, you got to understand, all of them do it. I said that before. They all do it.
It's incumbent look it up on you to be aware, to be smart and time it.
And don't first, don't FOMO and stuff. But second, if you have a chance to get your money back, regardless of the coins, tokens, whatever, if you have a chance to get your money back on simple trading, do it.
Because I guarantee you, you will not be made a millionaire. You certainly are going to be made a millionaire overnight. You damn sure ain't going to be made a millionaire off small amount of money.
