Bagless Nation, welcome to our monthly fundamentals podcast. I'm joined by Mike Nato. How are you doing, Mike?

I'm doing great, Ryan. Good to see you. Good to see you, too. Even more energy in ETH since we last had this podcast.

We've got some ETH Treasury companies that have launched some big energy from All Street in the Space.

ETH is still 25% below all-time high. You wrote a post we're going to get into talking about

ETH treasury companies. And it's sort of a bold case for that. I want to talk about that with you.

I also want to talk about where we are in the cycle as of right now. So it's starting to feel like maybe early greed stage,

and I believe that was a title of your post, maybe the alt-coin season rotation. So how do we

position for this? And what should we keep an eye on? But in general, Mike, are you bullish or how are you

feeling as we enter August, I guess, and start to conclude the summer?

Yeah, I think, you know, the fact that the top, you know, something we're going to get into here is East Treasury companies.

It's kind of a sign of the times, I would say, and sort of where we're at in this cycle.

We've made, you know, we're in year three.

I think I think the way people should think about this,

it's always helpful to sort of step back, zoom out. You know, we are in year three of a bull market

cycle. These tend to be the biggest years and we're moving towards the end of that. So we've

already seen, you know, pretty significant moves from Bitcoin and other coins. We've seen a number of

meta's develop. And so we are

sort of late stage, but I'm still bullish, you know, within that structure. It was so funny.

There was some selling over the weekend, right? And some people were, you know, on crypto Twitter,

of course, saying, oh, it's over, you know, like, but now we're back. And it's only been two days of, you know, a dip down, and it seems like we're back to where we were at the end of last week. And how do on-chain fundamentals look to you? It's like now a time to buy? It could be. It could be. You know, we were, I think the last time we recorded, we mentioned that we were buying ETH at, you know, between 2,200, 2,500 or so.

For,200, 2,500 or so.

For us, like, we follow a pretty, like, pretty systematic process to identify when we think it's the right time to buy.

...