FOMO HOUR: A Daily Crypto & Web3 News Show

Market is back open after being closed for July 4th yesterday, and things are unchanged for the most part. Oil prices are rising a little bit, likely on the back of the Ukrainian power plant news.  Crypto had a pullback over night with Bitcoin dropping back below $31,000. OSF points out that the chartists were incorrect again, and we didn't see the expected rally after breaking that level. Be...

It’s been looking rather rosey in traditional markets. Friday markets closed higher on both the Nasdaq and S&P, and today things are unchanged but nothing is expected as tomorrow is the 4th of July, a national holiday in the US.  Friday is the US payrolls number, so watch out for that as the reports have come in above expectations previously. Crypto is doing well with Bitcoin sitting around $3...

Traditional markets and equities haven't seen a major move either with the Nasdaq down slightly. Interest rates had a pretty big move after Powell spoke yesterday alluding to further rate hikes this year. This is opposite of what people were expecting, with the last bit of shared info pointing to a pause on hikes.  Crypto is rallying today after the lull yesterday. BTC is at $31.5k and ETH is...

Strong day in macro which supported the move up for traditional markets. Some talk of a ban on crypto in china has led to some false news and misplaced FUD. Saylor is buying bitcoin again, and has bought $350 million worth of bitcoin over the past 3 months as an ongoing buyer of bitcoin year over year. This recent acquisition in the given time period is the equivalent of buying 200 Bitcoin per day...

Traditional markets are seeing a bit of bounce. We lost some ground yesterday but things are back up today. Interest rates haven't been moving much and OSF thinks we won't see much activity over the next few months given the recent stance of the Fed.  Rumors of Fidelity filing for a BTC ETF seem to be true. There was also some positive news around Coinbase and Blackrock collaborating in...

Today was our host Mando's birthday so he was out enjoying the sun and touching grass. Our other host osf had obligations as well so we were joined by the legendary Michaela who brought the vibes. The feature of today's show was DEM from Azuki sharing a stage with us. Azuki is currently holding an event in Las V Vegas, NV with over 20 different individual events all tied to the community...

Stuff just went absolutely insane after the close of the show yesterday. BTC peaked at nearly 31k and ETH went up to $1830. Many other alts are seeing movement, with the two major coins seeing the most positive action. Mando is still looking to dips in ETH & BTC vs loading up on an alt.  Tokenization could be a 5 trillion dollar industry according to Bernstein! A crazy sentiment to hear, and i...

Very interesting 24 hours in Macro; What we've seen is some weakness in stocks after successive days of positive action, as well as some decoupling of stocks from crypto, with little apparent correlation. It seems to be moving on its own without any link to the macro environment.  The headlines when we hit the local lows recently have led to many large investment firms following suit with Bla...

GM Web3 ☀️Recap - Jun 20, 2023 Degenz Market Report by @osf_rekt and @rektmando Markets are opening lower with the S&P and the Nasdaq down almost 1% after yesterday's market close. Equities are hovering within a similar range that they have been. This is just a quiet time period in between the FOMC and the next major events Bitcoin dominance went up slightly and almost hit 27k, but it has...

GM Web3Recap - June 19, 2023 Degenz Market Report by @osf_rekt and @rektmando Kind of quiet with equities being sworn over the past few opens and today is Juneteenth, so traditional markets are closed. We had a bounce back in crypto on Friday with BTC in the 26k range and ETH is sitting in the mid 1700's. The fact that Bitcoin ended higher on the close of the week last night is a good look. A...

equities are really strong "like bull" as of late. Stoke are up again today even if on ly slightly. This has been a monster mover nearly 10-15% up on the month.  WE saw a bit of a bounce with crypto yesterday being led by Bitcoin. It does feel like there is a lot of shorting going on in crypto and TA is pushing a bearish narrative. With stocks pushing we are all hoping for crypto to foll...

GM Web3 ☀️Recap - June, 14 2023 Degenz Market Report by @osf_rekt and @rektmando Another day of stocks up higher! Interest rates did sell off a little bit yesterday, possibly due to inflation numbers being priced in, but they did rebound already.  Crypto had a very small bounce with BTC up to  26k and ETH in the same $1700 range.  FOMC is today, if they pause rates this will be the first shift aft...

Inflation was the big topic today with CPI coming at 4% vs expectations of 4%, down from 4.9% compared to last month. This marks the 12th month in a row of inflation marching lower, which is a great sign Stocks are up on both the Nasdaq and S&P, while rates sold off again. Crypto saw a pump off of the lows before selling off, returning to yesterday’s levels.  FOMC is tomorrow, which is in sync...

There is a lot happening. Macro is very very strong, and we’re at YTD highs with interest rates and equities almost in a price discovery phase. CPI is coming in tomorrow which will be a big number; if we are in line or beat, there will likely be a rally. We are also nearing the end of the FOMC which will reveal the plans of the Fed going forward and shape the latest market narrative.  Crypto is no...

No Farokh today, just our two Macro wizards! Decent day in equities, Nasdaq is approaching ytd high interest rates are offf the highs. Interestingly enough Crypto does not want to follow the macro trends. This is the fifth or sixth time we are not seeing crypto follow in tow of traditional market rallies. Apple has been in the headlines, and there is movement but crypto has just not caught wind. ...

Todays episode was more of a conversational reflection on being a founder in the space. Yesterday there was a ton of FUD surround Kevin Rose and the moon birds community, part of which was prompted by KRO himself, when he posted a tweet (now deleted) saying FUD ME. The talk was quality and a great listen for all participants, especially fellow founders. Luca Nets joined in the banter as he was men...

Not much to report today because traditional markets are CLOSED. The debt ceiling deal reached a resolution, nobody is shocked. Crypto pumped a bit on the back of it, ETH hit $1900 and Bitcoin is bordering 28k. OSF imagines we could still see a rally when markets open up. We have Payrolls and the FOMC in the coming weeks, following some good headlines we could be in store for some positive movemen...

GM Web3 ☀️Recap - May 26, 2023 Degenz Market Report by @osf_rekt and @rektmando Another good day for stocks today with the S&P up 1% and the Nasdaq up 1.5%. Interest rates are heavy and were up almost 1.6% on 2 yr treasury. OSF thinks this may be due to PCE numbers coming in properly, as well as some constructive talk around the US debt issue. Interest rates have sold off for basically the pas...

A good start to the day for equities with the Nasdaq up on the back of NVIDIA earnings; this seems to be a direct result of AI income. Their market cap appears to have reached 1 trillion!? As a result of Nvidia, tech stocks are up roughly 2%. Notable mention that the CTO of NVIDIA was also quoted earlier this year saying crypto doesn't offer anything useful. Crypto bounced slightly in line wi...

Traditional markets are not off to a great start today. The 21 day treasury auction ended yesterday at a yield of 6.2%, due to a lack of resolution about the debt ceiling talks. The auctioned bills are set to reach maturity around the "X-date", when the Treasury expects the government to no longer be able to pay its debts if Congress doesn't reach a deal. As the end of the month app...

Stocks are down and interest rates are up to nearly 4.4% on 2yr treasuries, which is the highest it's been since march. The US debt ceiling conversation is stirring up emotions and talk around markets, causing general fear. Crypto is up a slight bit and looking strong with BTC around $27.3k and ETH around $1850, while alt coins are not following suit. The layer 2 story is still a strong narra...

Equities are holding steady, after experiencing a minor dip on Friday before rebounding to previous levels. Meanwhile, interest rates have seen a significant sell-off, with a substantial 70 basis point movement since the introduction of the banking crisis a few months ago. The current buzz revolves around discussions regarding raising the US debt ceiling, though OSF highlights that this topic has...

Pretty benign start in all things in macro. There was some better rhetoric between McCarthy and Biden around the US defaulting, which seems to have had a positive outcome for stocks. Crypto saw a slight dip on the majors and while writing we are seeing some active movement in prices. This is a time when we might see some volatility, the bears are calling for a dump based on technicals, but the deb...

Equities were up on close yesterday, but we have given back some of the gains today with Interest rates also rising slightly. Today we had the reported retail sales number come in at 0.4% which was below expectations of 0.8%. Crypto is also fairly unchanged, BTC above 27k and ETH has been holding in the $1800 range. $APE saw a positive reaction to the HVY-MTL rollout, but is still in the mid $3 ra...

Traditional markets again don’t have much to report. We have been edging a bit higher in 10yr and 2yr treasuries for interest rates, but still nothing significant. The next big thing is Payrolls and then the next CPI report, so there is a timeframe here without any scheduled major events. Crypto bounced off the lows across the major coins and alts also, we could be starting to see a small rebound,...