Today’s edition is brought to you by Phemex - a top exchange for trading crypto and derivatives that just launched their token rewards program with special discounts.

GM. This is Milk Road. We’re like that first cup of coffee on a Monday morning - we hit different.

Here’s what we got today:

• Crypto is ready to rally. Here’s why… 👀

• Puma and Roc Nation drop a new NFT shoe 👟

• Van Gogh gets the NFT treatment 🍪

HERE’S WHY CRYPTO IS READY TO RALLY 👀

I read a great post called “Bonds Down, Crypto Up” over the weekend.

It was by Dan Morehead - the founder of Pantera. And just in case you aren’t familiar with either of those names…

• Pantera launched the first cryptocurrency fund in the United States 10 years ago

• The fund’s lifetime return is up 41,960% (holy sh*t)

• Dan has been timely with predicting bull runs in the past (i.e. he sent a famous email back in 2013 where he said buying BTC at the time was like buying gold in 1000 B.C.)

So yeah - when Dan has something to say, I listen.

What’s he saying now? Crypto is ready to rally.

Lucky for you, I read the whole post so you wouldn’t have to. (When I eat read, we all read.)

Here are the MilkNotes™ on the top 3 things Dan had to say:

1/ The Federal Reserve is having a Wile E. Coyote moment

Wile E. Coyote is an OG cartoon character.

He has one goal: try to trick and catch the Road Runner. So, he sets a ton of traps.

But in the end, Wile E. Coyote ends up hurting himself. **womp womp**

In his blog post, Dan compares the Federal Reserve to Wile E. Coyote.

He claims the Fed has been trying to trick investors by manipulating the U.S. treasury and mortgage bond markets over the last 15 years.

The results have been devastating for regional banks, housing, renters, etc.

Dan thinks there is still a ton of risks in bonds, which will force investors to look elsewhere for alternatives.

2/ Crypto has decoupled from the S&P 500

Last year, Bitcoin’s correlation with the S&P 500 hit an all-time high of 0.76. 

Fast forward to today, it’s below 0.10.

The correlation switched up like a Ludacris remix - it went from “when I move, you move” —-> “move b*tch, get out the way”.

3/ As a result, crypto is ready to rally

Dan ends the post with the following…

**mic drop**

Who knows if Dan will be right again (that last line sounds like it could be out of a fortune cookie), but I wouldn’t bet against his calls.

Plus, all signs are pointing toward a rally…

Traditional finance giants are lining up to launch Bitcoin ETFs.

Tokens like XRP have been deemed not securities.

Huge Web2 companies like Puma, Gucci, Microsoft, etc. are all still jumping into the space on a weekly basis.

**Houston, we have liftoff**

EARN FREE REWARDS FOR TRADING ON A TOP EXCHANGE

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Here’s what you need to know:

• Participants will receive free, guaranteed rewards of Phemex’s upcoming token immediately just for trading on their platform

• The total prize pool is 100 Million xPT, with rewards distributed based on trading activity

• The event is divided into 5 stages, with early participants reaping the most rewards (Stage 1 just started)

Start trading today and reap instant airdrops! Fight your way to the top of the leaderboard for an even bigger boost.

PUMA AND ROC NATION DROP A NEW NFT SHOE 👟

Check it out, crypto has some new kicks.

Puma and Roc Nation (Jay-Z’s entertainment agency) just launched a new shoe collection called RS-XL “Evolution of the Mixtape”.

But there’s a twist: each shoe comes with a blockchain-based tech called an “LGT Tag”.

Here’s how it works:

• The LGT Tag is embedded in the tongue of the shoe

• Owners can scan it to access exclusive music content from Roc Nation artists including weekly mixtapes, access to unreleased music, and more

• An NFT is also minted on the Avalanche blockchain that can be used to authenticate the shoes and other apparel

In total, there will be 3 different styles for the shoes: Cassette Tape, Disc Walkman, and Playlist. Here’s what the Disc Walkman shoes look like…

And now announcing the Milk Road Scores…**enter announcer's voice**

Style: 3/10. (It looks like my 5-year-old niece decorated them with stickers.)

Utility: 9/10.

This is a pretty cool concept.

And although I wouldn’t wear the shoes, I would listen to music that the shoes unlock. Roc Nation has a stacked roster of artists like… checks notes…

DJ Khaled, Alicia Keys, J Cole, J Balvin, and more.

But my researchers also tell me they have smaller artists like Jaden Smith (yes, Will Smith’s son) and some guy named Moneybagg Yo.

So the big question is: which artists’ music will get featured and released via the new shoes?

Only time will tell, but this is definitely a trend we’ll be keeping our eyes on… 👀

P.S. - check out the demo of how it works in action here.

MILK & COOKIES 🍪

Kraken re-introduces Kraken Pro for traders. The offering allows traders of all shapes and sizes to level up their trading through a clean user interface, advanced tools and analytics, and full customization.*

One of Spain’s National Museums is launching an NFT collection featuring Van Gogh’s artwork. Some of Van Gogh’s art was converted into high-definition NFTs and certified by the Thyssen-Bornemisza National Museum.

The SEC has formally accepted BlackRock’s Bitcoin ETF application. Now it’s just the Waiting Game…

Coinbase’s Layer-2 network, Base, is now available for developers & builders. The mainnet will launch for the general public later in August.

200+ Ethscriptions were stolen in a recent smart contract exploit. Talk about a rough start for the new Ethereum protocol…

*This is sponsored content

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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.