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Today’s edition is brought to you by Cross Finance – an innovative digital ecosystem that effortlessly blends banking and blockchain realms via its L1 blockchain, dApps, and payment card. |
Dive into the revolution with us on CoinList's testnet!* |
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GM. This is Milk Road, the daily newsletter that gives you the best of crypto in 5 minutes or less. |
Here’s what we’re serving up: |
Crypto’s trending tokens… 🚨 Bitcoin ETFs are seeing inflows again 💰 BlackRock is on a 69-day streak 🤯 The stablecoin supply just hit a multi-year high 📊 These indicators will show you the bull market top 👀 The NYSE is going crypto 🍪
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4 QUICK HITTERS FROM TWITTER |
It was a slower news day, so we won’t waste your time. |
Here’s what you missed over the last day: |
1/ Crypto’s trending tokens over the last 24 hours are… |
According to Sentiments ‘Top Trending Tokens Dashboard’, there are 2 tokens that have taken over social media recently… |
(If crypto had a popularity contest, these would be Mr. and Mrs. Homecoming) |
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Other trending tokens include… $TON, $CELO, $ARB, $SHIB, and $WOO. |
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2/ Bitcoin ETFs are seeing inflows again… |
After 5 straight days of outflows, Bitcoin ETFs have seen back-to-back days of inflows… |
(no wonder our researchers have been chest pumping all morning long) |
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Why this matters: There’s been a correlation between BTC ETF flows and BTC’s price… |
When there are inflows, BTC’s price usually goes up. Since the BTC ETFs launched, they’ve seen $11.2B in total inflows. BTC’s price is up +43% in that time. When there are outflows, BTC’s price usually goes down. For example, last week’s 5-day streak of outflows sent BTC to the clearance rack. (It dropped -8% at one point).
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**static noise** |
We interrupt your regularly scheduled programming to bring you a quick word from our sponsor… |
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**static noise** |
And now back to your regularly scheduled programming… |
3/ BlackRock’s Bitcoin ETF is on a 69-day streak |
In case you didn’t already know… BlackRock is the world’s largest asset manager. |
$9.1T in AUM. Well, check it out. The firm also has one of the most successful ETFs ever… |
Its Bitcoin ETF, $IBIT, is on a 69-day inflow streak. (giggity) |
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$IBIT is only a few months old, but the rookie has made its way into the top 10 daily inflows streak ever. |
firm handshakes all around |
4/ The stablecoin supply just hit its highest level in ~2 years |
For the first time since June 2022, the total supply of stablecoins has crossed $165B. |
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Why this matters: This could mean that investors are getting prepared to make more moves in crypto soon. |
Think of it like a casino – to play the games, you need to trade in your cash for casino chips. |
The more chips you have, the more games you can play (and the more money you’re likely to spend). |
Well, stablecoins are like the casino chips of crypto. More stablecoin supply = more money people are likely to spend playing in crypto. |
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PRO “WHERE ARE WE IN THE CYCLE?” INDICATORS 📊 |
Crypto moves in cycles, and knowing where we are in the current cycle is crucial for capturing the best opportunities. |
The goal is to spot the bull market peak before the inevitable bear market hits your bags hard. |
Since timing the top perfectly is almost impossible, we use various indicators to give us a better shot at taking profits before it's too late. |
Here are the 5 indicators we track, with a color-coded system to show how close they are to signaling the market peak: |
🟢 Plenty of room to run 🏄
🟡 Getting closer to the top signal, but haven’t yet reached the mark ⚠️
🔴 We’ve hit the market top indicator 🚨 |
Every Tuesday, we update these 5 indicators exclusively for PRO members. |
Our advice? Don't wait for all of them to hit 🔴. It's better to take profits as they get closer to that point. |
Let's dive in and see if we're anywhere near the top of this bull market. 👇 |
| GO PRO AND UNLOCK: | Full access to the 5 bull market peak indicators above. 👆 Our weekly reports that help you invest successfully in crypto. 💰 Full access to the Milk Road PRO community. 🫂
| | PRO REVIEW OF THE WEEK | |
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BITE-SIZED COOKIES FOR THE ROAD 🍪 |
The Gamium platform is now officially open, in invite-only Beta. Gamium is a social-meets-web3 protocol that enables you to invest in public social media profiles, where anyone can launch MSTs for users on or off the platform, democratizing the trade of social influence. |
The New York Stock Exchange (NYSE) is contemplating switching to 24/7 trading. According to the Financial Times, the NYSE’s team put out a survey asking stakeholders about whether round-the-clock trading should occur on weekends as well as the five-day week. |
The governance token of Safe Protocol ($SAFE) is now transferable. According to Coingecko data, the Safe's fully diluted valuation (FDV) stands at over $2.8 billion. |
The total value locked (TVL) on EigenLayer has crossed $15B. Business is boomin’ for the staking protocol since it lifted its cap recently. |
Wanna team up with the Milk Man? We currently have 6 positions open (2 new ones) – check ‘em out and apply here! |
PayPal and EnergyWeb are teaming up to launch a new incentive program for Bitcoin miners who ‘go green’. PayPal's proposed solution will distribute BTC to “green” Bitcoin miners, or individuals who use low-carbon energy sources in their mining operations. |
Ledger Live will begin offering new crypto ‘instant-buy’ and ‘swap services’ through MoonPay. As part of the partnership, the companies are also collaborating on educational content for cryptocurrency traders. |
Magic Eden launched the beta version of its new platform to trade Bitcoin Runes. Users will be able to swap for BTC and buy Runes and Ordinals with a Magic Eden wallet. |
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MILKY MEMES 🤣 |
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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. |
