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GM. This is Milk Road. Think of us as your crypto news barista β we know your order, and yes, we add the extra shot of clarity. |
Hereβs what we got for you today: |
Fear & greed hits 90! π Coinbase enters the Top 50 π
Coming soon: more volatility π Solana is breaking records πͺ |
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FEAR & GREED HITS 90! π |
The fear & greed (F&G) index is one of our favorite things to look at. |
Itβs a good way to understand how the market is βfeeling.β |
Hereβs how it works: |
Each day, thereβs a new number It ranges from 1 (extreme fear) β> 100 (extreme greed) How is it calculated? 25% Volatility (looking at 30 & 90-day average drawdowns) 25% Market volume (again, looking at 30 & 90-day averages) 15% Social media mentions 15% Surveys 10% Market dominance (BTC vs. Altcoins) 10% Google Trends search volume 15% Concentrated Power Of Willβ’οΈ |
Well, the F&G index just did something I failed to do on any high school math test⦠scored a 90! |
Why this matters: This is the first time the F&G index hit 90+ since 2021. |
The last time it did? It stayed above 90 for a few months (green dots below) and BTC ended up rallying from $15K β $60K. |
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Weβll see what happens this time around. |
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COINBASE ENTERS THE TOP 50 π
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LOOK! Up in the sky⦠|
Person 1: βItβs a bird!β |
Person 2: βNo! Itβs a plane!β |
Milk Man: βNahhh, thatβs just Coinbase flying through the App Store!β |
Thatβs right. The U.S. crypto exchange has been on a roll latelyβ¦ |
It started the year ranked #489. AKA βparticipation ribbonβ status. Today, itβs ranked #49. |
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Why this matters: Itβs the first time Coinbase has been ranked in the Top 50 since February 2022. |
Retail is back, baby! |
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COMING SOON: MORE VOLATILITY π |
Check it out. Thereβs something called the βDVOL Index.β |
The index was created by the crypto exchange Deribit. Itβs calculated using the exchangeβs option order book and tries to predict BTCβs volatility over the next 30 days. |
Well, the DVOL has jumped from 40% β 76% over the last month. |
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Buckle up. It looks like we could be in for some volatility over the next month. |
Remember, crypto is like a mechanical bull at a bar. Itβs all fun and games till the bull throws the drunk girl off and she pukes. |
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BITE-SIZED COOKIES FOR THE ROAD πͺ |
Hashlock, a cybersecurity firm, provides smart contract audits and other security services to web3 and blockchain projects. Hashlock is rapidly building a solid portfolio of completed audits, and you can read more about their services in our review!* |
Solanaβs weekly DeFi trading volume hit $11B last week. Thatβs a new weekly record! |
The SEC delayed its decision on BlackRockβs ETH ETF (again). The move was largely expected. Most analysts believe that a decision to either green light or postpone the launch of the ETH ETFs wonβt come until May. |
MicroStrategy is looking to raise $600M in financing through convertible notes. The company said it would use it βto acquire additional bitcoin and for general corporate purposes.β |
Ethereum gas fees are skyrocketing. To put things in perspective, the average fee to complete an NFT transaction on Ethereum hit ~$370 at certain points yesterday. |
Some Coinbase users had a βzero balanceβ glitch on their accounts yesterday. I guess thereβs a 2-for-1 special going on because the same thing happened last weekβ¦ |
Deutsche Boerse (the operator of Germanyβs largest stock exchange) is launching a crypto trading platform for institutional clients. It will offer a fully regulated ecosystem for trading, settlement, and custody of crypto assets. |
*This is sponsored content |
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MILKY MEMES π€£ |
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ROADER REVIEW OF THE DAY |
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VITALIK PIC OF THE DAY |
| Milk Road Images @MilkRoadImages | |
| | | | Mar 5, 2024 | | | | 0 Likes 0 Retweets 0 Replies |
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DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research. |