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GM. This is Milk Road. The newsletter that gives you the same feeling as hearing the ice cream truck enter your neighborhood - instant joy. |
Hereβs what weβre serving up today: |
Solana is on FIRE. Hereβs whyβ¦π₯ Movies, Bitcoin, and all-time-high prices π MicroStrategy: βMo Money, Mo BTCβ πͺ |
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SOLANA IS ON FIRE! HEREβS WHYβ¦π₯ |
Solana has been on a roll lately⦠|
Its native token ($SOL) is up +15% and hit a 20-month high. Stablecoin inflows have increased every day for the last 10 days. Last week, Solana decentralized exchanges (DEXs) saw $11.24B in trading volume - a new weekly record. On Tuesday, Solana DEXs hit $2.85B in trading volume - a new daily record. |
(The Solana club was π΅ goinβ up, on a Tuesday π΅) |
So, whatβs behind the recent rally? 2 thingsβ¦ |
1/ Shiny new tokens |
A new wave of memecoins hit the Solana blockchain this week. |
But thereβs a twist: |
The memecoins arenβt animal-themed like they usually are. (i.e. dogs, cats, frogs, etc) Instead, theyβre based on famous people. But the names are spelled funnyβ¦ And the art looks like it was created by a 4-year-old on Microsoft Paint. |
Without further adieu, here are the memecoins taking Solana by storm⦠|
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I know what youβre thinkingβ¦. βThis sounds (and looks) so stupid.β |
I thought the same thing when I first saw them on Tuesday. So, I didnβt buy any. |
Fast forward to today⦠tokens like Jeo Boden and Danold Tromp are up 100x. |
(Brb - gonna go stub my toes against the coffee table to ease the pain). |
The lesson: You donβt get to dictate whatβs βstupidβ in crypto, the market does! |
And goofy artwork + funny names = a recipe for virality. |
As more of these Solana memecoins go viral β more investors will flock to Solana β more on-chain trading activity. |
On top of that⦠|
2/ Pantera Capital has its eyes on SOL |
In case you donβt know, Pantera is a crypto OGβ¦ |
Launched the first crypto fund in the U.S. over 10 years ago. First bought BTC back in 2013, when it was worth ~$100. (Btw - Dan Morehead, the founder, wrote an email explaining why they invested at the time. 100% worth the read). At one point, the fundβs lifetime return was over 10,000%. AKA what all little degens around the world dream ofβ¦ |
Now, Pantera has its eyes set on something new⦠Solana. |
According to reports, Pantera Capital is raising funds to buy $250M worth of SOL. |
Why this matters: It gives Solana a βstamp of approvalβ. |
You see, for the most part, Solanaβs been associated with names like FTX and fkSBF (formerly known as SBF or fkSBF for short). |
All bad names. All banned from my house. |
So getting a name like Pantera onboard adds some credibility. |
$SOL is up +15% after the news. |
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| | Donβt look now but the crypto market has finally found its groove again after a period that felt like the longest winter on record. | So, whatβs next? | Like everyone else, you're looking to capitalize on this upswing and elevate your profits without sifting through endless analyses cluttering your screen. | The solution is simple: Phemex. | Phemex offers a solution tailored for both novice and seasoned traders, with its trading bots acting as your personal assistants and streamlining your trading journey. | But thatβs not allβ¦ | Phemex's spot and contract grid trading bots are adaptable to fluctuating market conditions, ensuring you stay ahead of the game. | And for advanced traders seeking a competitive edge, the Futures Martingale Bot is your go-to strategy enhancer, employing a sophisticated cost-averaging technique to refine your trading approach. | Want to dive deeper? | Check out Phemexβs guide to discover the bot that aligns with your trading strategy! | |
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MOVIES, BITCOIN, AND ALL-TIME-HIGH PRICES π |
Hereβs an interesting/weird correlation for youβ¦ |
Every time a new βDuneβ movie comes out, BTC hits a new all-time high. |
It happened back in 2021 and again earlier this year. |
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Have I ever watched Dune? Nope. |
Am I rooting for them to make a new movie every year? Hell yes. |
If they make as many Dune movies as βFast & Furiousβ, weβll be rich in no time! |
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BITE-SIZED COOKIES FOR THE ROAD πͺ |
The blockchain security firm Hacken is on the brink of introducing RWA tokenization, which empowers $HAI token holders to convert their utility tokens into equity tokens. This exchange provides a direct equity stake in Hacken and the waitlist remains open.* |
MicroStrategy increased its convertible debt offering from $600M β $700M. You know what they sayβ¦ βMo Money, Mo Bitcoin.β |
The proposal to turn on Uniswapβs fee switch has passed the βtemperature check vote.β The proposal includes changes in the protocolβs fee mechanism to reward users who delegate and stake their UNI tokens and will now go to an on-chain vote. |
Wormhole released details for its big airdrop coming soon. The cross-chain protocol will airdrop ~617M tokens to its early users. |
Regulators in Spain have issued an order requiring Worldcoin to cease collecting and processing personal information within the country. Sam Altmanβs crypto project has a 72-hour window to abide by the order (or elseβ¦). |
The Arizona State Senate is reviewing a proposal to include Bitcoin ETFs in retirement funds. The state funds include the Arizona State Retirement System (ASRS) and the Public Safety Personnel Retirement System (PSPRS). |
EigenLayer has reached $11.2B in total value locked (TVL). The Ethereum restaking protocol jumped Aave to become the 2nd largest protocol by TVL. |
*This is sponsored content |
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MILKY MEMES π€£ |
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| When you sneeze and miss out on a 100x | | | Mar 7, 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. |