- Milk Road
- Posts
- 🥛 Is the bottom in? Vote now!
🥛 Is the bottom in? Vote now!
Ben Levy & Shaan Puri
July 20, 2022
GM. This is the Milk Road, the crypto newsletter Dr. Phil calls “the secret to keeping the flame burning in his marriage.”
You're welcome Doc.
Here's the good stuff for today:
Is the bottom in? Vote now!
BTC Whale #3 selling?
Weekly crypto funds report
Meme of the day
IS THE BOTTOM IN?
Do you smell that? It’s the sweet, sweet smell of pumped-up crypto prices.
Over the last week:
BTC is up 25%
ETH is up 57%
And after 73 long days, we’re officially out of the Extreme Fear zone
Can I get a “hell yeah?!”
Many are hoping the worst is over with and the bottom is in. Of course this caused a little Milk Road debate…
And it got us thinking about you. Yes, you with too little sleep last night.
We wanna know - Do you think crypto prices are really bouncing back?
Reply to this email with your gut guess:
A/ Going Up
B/ Going Down
C/ No Effin Clue
Do it! Hit reply right now and tell us! We have over 150k+ daily readers. I wanna hear what you think.
I might even get Billy The Kid to go to Kinkos and print out a chart with the poll results (like in golf when they present the winner with a GIANT CHECK. I always wanted one of those)
WHALE #3 MOVES 15.5K BITCOIN
Whale #3 is well-known in the bitcoin community - a celebrity at this point.
3rd largest holder with over $2.5b in BTC
100% anonymous (no one knows whether its a person or a company)
Pretty accurate in timing the local tops and bottoms
And over the last 2 days, Whale #3 has moved 61k Bitcoin ($1.4b) out of the wallet.
It could be a transfer to another wallet, but the most likely outcome is a massive sell-off.
We don’t predict price movement here at the Milk Road, but this is a big move & one to keep an eye on!
TODAY'S EDITION IS BROUGHT TO YOU BY PIESTRO
Random NFT Or Real Army Of Pizza-Making Robots?
A portfolio of digital art is cool, but it’s not robotic-pizzeria cool.
And this is your final week to invest in Piestro’s fleet of artisan-quality pizza robots.
So, before you throw money at another cat GIF...
These fully-automated kiosks can dish a fresh artisanal pie 24/7 in just about any high-traffic space. Food vendors can use it to sell more pizza faster, cheaper, and without losing a smidge of that smokey Sicilian savor.
The Piestro difference:
Less labor + real estate spend = more profit
Tasty restaurant-level pizza in 3 min
Fits in high-traffic areas like malls and airports (essentially anywhere)
With $580 million in preorders from fast-growing brands like 800 Degrees, Piestro could be the next best thing.
CONSENSYS DROPS A NEW NFT TO TOKENIZE SERVICES
Check it out. ConsenSys is launching a new NFT.
It’s called TURN. And before you TURN to look the other way & say “Here we go, another NFT”...
This one is different. It has a special utility: holders can redeem their NFTs for a full week (40 hours) of security audits.
This is cool for 2 reasons:
1/ It creates an open marketplace for time-bound services. Right now, it’s security audits. But in the future, it could be any time-bound service like consulting, marketing, designing, etc.
2/ Buy the NFT and skip the line. Companies usually have to wait 6+ months to get an audit. Now they can buy the NFT and skip the line when needed.
WEEKLY CRYPTO FUNDS REPORT
The results for the latest Weekly Crypto Funds Report are in… there was a total inflow of $12m last week.
The third straight week of inflows!
Some of the highlights:
ETH breaks its streak. After 3 straight weeks of inflows, ETH sees minor outflows of $2.5m
Bitcoin shorting continues. A net total of $15m was invested into short-investment products. (Aka people betting prices will go lower)
Altcoins staying quiet. Most altcoins haven’t seen much action other than Solana with an inflow of $0.5m
Volume remains low. Only ~$1b in volume last week. Down big time from the average of $2.4b per week
MEME OF THE DAY
It’s a video, but worth clicking and getting that full 20 seconds in!😂😂
That's all for today folks. See ya tomorrow!
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.
A Review from the Road...
What'd you think of today's email?
Reply