Social trading

Because you don't even have to post anything on X.

You don't have to... pump and then dump on your phone you can just buy your father's gonna see it pump it on its own without you shilling it and then you can dump on them and and i'm not saying that they're all doing that it's off if you don't think some are doing that like i don't have to tell you but i clearly i was wrong like social trading is it's one of the metas of this cycle like fomo is printing money it's one of the most successful protocols one of the most successful daps we've seen certainly this year the the path they're heading it could be one of the most successful consumer crypto apps ever like i i wasn't i'm i'm personally not a fan of pump fun i don't have anything against them or the team but i just i'm not a big trencher so it's like it's like does it doesn't do it for me just saving the film like i have a film account i've know loaded up 100 bucks on there and it's now like 20 bucks um but i'm not knocking the game i i just don't it's not it's not it's as i've said before it's not something i feel i have an edge in i'm not plus ev and so i just don't do it that much when i do trade on fomo it's more just like entertainment or i'm going to get some exposure to this and maybe maybe it's that It's like a scratch-off ticket.

It's not like poker or DFS or best ball or trading.

It's just a scratch-off ticket.

Tonight, it's going live to all eligible customers in the US.

They're also making several updates to the experience, including new post types for sharing crypto and stock, stock chart, portfolio allocations, etc.

I've got a thought on social trading that I'm going to share for now.

because I was shared something that someone is working on and I don't want to front, I don't want to, it's like, I just got to bite my tongue, but I'm really excited about something in particular on the social trading front.

Like a lot of that was I would say one of the early, that and virtual is one of the early examples of custom pairing, right? And so we like, we do that pretty well.

And what's the current meta in the space and what's taking off? Custom pairs, okay? What's the second one? Social trade, social, right? Not even just social trading, social.

I'm like, wow, we nearly got crucified for doing social.

I remember having conversations with people about social and it was something you would take out back of the office and like, you know, do things I can't describe one's dream to.

which is why we're in this, it's like a bit of a messy middle in terms of the transition that we're going through.

So like for those who are familiar with Zora, you might be coming to Zora and seeing something that feels totally different.

For those who are new, you might be like, oh yeah, this is a place where I can, it's like social trading and multi-chain issuance would be like the two things that we're going for here.

So what looks different here is that you can now find any and every token across those four networks.

All right.

If you think about, I guess, the social trading like so.

So there's a lot of accelerants for, I would say, the meme coin space right now.

The two big ones, I think, are one, the advent of social trading and the idea that.

All right.

Like this is a group activity.

Like, I want to just start fucking documenting shit.

Because I really do believe like this whole trading thing, like the future of social trading, all this fucking stock pair shit, the Vlad, this era that we're living in.

What a moment in time.

And truly, truly

Right.

Some of the traders, just like, again, behind the scenes, I've connected with a lot of these traders and had deep conversations and pick their brains fucking 25 different ways.

And a consistent point of feedback that I'm hearing from them is they're And obviously they're kind of going down this more social trading route because that's kind of like what's really hot right now.

But

maybe not indicators, but pockets of speculation that were happening.

We're seeing this currently mostly in the social trading sector of the market.

In 2023, we had like the L2 launches, we had Bitcoin ordinals, we had some NFT speculation, things like friend tech.

So we're starting to see some of that in this cycle.

And so that's a signal that we look for as we go into the early bull phase of the cycle.

The other thing we'll start to see, and I would say we haven't really seen this just yet, but what I expect to start to see is some users start to come back.

We're seeing some of this, users coming back, mostly in that social trading sector.

But what will become interesting is once other crypto projects, once other areas of the industry start to see that users are coming back, we'll start to see more marketing.

Like if the headline was like- garlic house like cures cancer like you want to buy stellar and it's like kind of hilarious but yes that does like happen

So I'd like to get into where I think retail is going to come into, which I think is actually more likely to be FOMO and social trading than it is dino coins like we've seen in the past.

But before we get there, I want to talk about L1s and Monat, but I want to talk about the next marginal buyer first, which is, I think that there's still a lot of sideline capital.

So if I'm holding these names, I think we're going to get FOMO into like these names from, you know, crypto natives, liquid funds, et cetera.

Yeah,

absolutely.

Dan, I just wanted to kind of close out here and ask you about what you think social trading evolves into.

Have you used FOMO yet? Have you downloaded it? I have, yeah,

you've got hyperliquid you've got lighter you've got all these protocols which are actually making a lot of money trading everything real world assets uh crypto assets crypto assets paired with real world assets which is the new craze that's actually going on right now so ultimately there's there's a lot going on in terms of tokenization interesting the next thing is There's something going on in crypto, and it's quite complex, but I'll try and break it down for your viewers, because I think it's much bigger than people make out to be.

It's the whole social trading narrative.

Now, you've seen pump fun, you've seen FOMO.

Those are biggest...

Both very good businesses, right? So casino is a very big industry and then social networks are a very big industry.

What I think crypto has created, it's created the ultimate combination of a casino and steroids, I'll talk about that in a second, and a social network.

And don't, don't drown as to how big it is, because it's the ultimate recipe for social trading.

Right? I think that that's a massive product market fit for crypto social networks around trading, which ultimately it's creating assets, trading assets, getting social validation, therefore creating more assets.

You got pump, which is exposure to the on-chain degenerate activity.

Also like the social trading thesis, Bitcoin, obviously, and Zcash are obviously very explainable theses.

And I think hood is kind of like the, uh exposure to a TradFi company like one of the reasons I was so bullish on coinbase at the beginning of last like it was like coinbase was the main leader um of exposure to crypto as a stock in the US I was like oh this is an obvious trade they're going to benefit from all the retail activity um I think Robinhood is also a great trade um in that way and yeah as we talked about earlier the block their L2 making four million dollars a day is not at all priced into the stock at all not even like a little bit and so that's why i think part of the reason i got repriced a little bit today people are realizing that but if that continues

four million dollars a day

I had a conversation

about this with somebody about this yesterday.

Do you think Robinhood ever like throws their hat in the ring in a very aggressive way on the social trading shit?

I think so.

FOMO and pump making extremely easy.

We haven't really talked about the social trading apps and how big of a game changer that is.

Maybe we'll go there a bit.

Millionaires made every single day.

I'm with you there.

I was actually planning to share some thoughts this week.

And I'm curious how the rise of social trading and hot on-chain trenches impacts sports betting.

Cause like, For me, I have zero interest in doing that when I can focus my time on chain for much higher returns.