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- 🥛 A peek at crypto's trending tokens 🔥
🥛 A peek at crypto's trending tokens 🔥
PLUS: Bitcoin is 4 days away from making history...
Today’s edition is brought to you by Bakkt® Custody - an institutional-grade solution to custody your digital assets, backed by multi-layered security.
GM. This is Milk Road, the newsletter that’s like a surprise party for your brain - every day.
Here’s what we got for you today:
Crypto’s trending tokens 🤑
Graph of the Day: Ethereum has more HODLers than Bitcoin now đź“Š
Bitcoin is 4 days away from making history… 👀
Final call to vote for the Milk Road Awards! 🏆
CZ got $25B richer this year… 🍪
CRYPTO’S TRENDING TOKENS 🤑
I’ve been doing the same two things every morning this week…
1/ Walk my neighbor's “dog” while he’s away (btw - everyone calls it a dog, but this sumb*tch weighs 200 lbs and looks more like a horse).
2/ Check trending cryptocurrencies. After the horse-dog walks me, I usually check out trending tokens on sites like CoinGecko, CoinMarketCap, and Dex Screener.
This not only shows you the top-performing tokens but also shows you the tokens other people are searching for on those sites.
It’s a good way to stay in the loop on the hottest narratives. And It’ll sometimes put new tokens on your radar that you can do further research on.
For example, if we look at CoinGecko’s top 5 trending tokens, we’ll see something like this…
Now that we know what’s trending, we can do a little research to figure out why. Here’s what we found for the first two tokens, SEI and METIS:
1/ SEI: a Layer 1 blockchain that’s trending due to the rise of a new narrative… “Parallelized EVMs.”
(Side note: we asked around and it seems like no one really knows what “parallelized EVMs” are… but it’s provocative, it gets the people going)!
2/ METIS: a Layer 2 scaling solution for Ethereum that’s getting attention because of its new $360M ecosystem grant.
Some people speculate Metis will fund projects that build on its network, and in turn, those projects will use some of those funds to attract new users via stuff like airdrops.
Milk Road Take: Checking trending tokens is a simple strategy, but an effective one.
And tomorrow, I’ll show you how it helped me find a 10x investment opportunity.
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That’s why you need solid infrastructure from the start. And that’s where Bakkt® comes in.
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GRAPH OF THE DAY: ETHEREUM HAS MORE HODLERS THAN BITCOIN đź“Š
The amount of ETH owned by “long-term hodlers” just surpassed 70% - a new record.
(BTW, “long-term” = holding ETH for more than 1 year).
The crazy part? Ethereum now has more long-term HODLers than Bitcoin.
Why this matters: This is a positive sign for ETH’s future price action since long-term holders are, well, in it for the long haul and are less likely to sell in the near term.
More long-term believers = fewer big price drops.
For the last decade, Bitcoin’s price has been more volatile than a 2-year-old’s mood swings during lunchtime.
One minute, it’s all smiles and giggles.
The next minute, you’re drowning in a sea of tears and your kitchen looks like a middle school cafeteria after a food fight.
Well, check it out. It looks like Bitcoin might finally be growing up…
There are still 4 days left in the year so… *knocks on wood*.... hopefully, we didn’t jinx it.
But if it does end up happening, it’d be a big accomplishment and could help make Bitcoin more appealing to some investors.
You see, there’s still a large group of people who refuse to acknowledge Bitcoin because it’s too volatile.
“If I wanted to deal with volatility, I would’ve just stayed with your grandmother.” - my grandpa.
Damn, gramps. Shots fired.
I understand though… not everyone is gonna be comfortable investing in an asset that is guaranteed to drop 30%, at some point, every single year.
But now that Bitcoin’s price is becoming more stable, it could make more people comfortable investing.
Constellation Network’s Dor Traffic Miner (DTM) just went live for sale. DTM is the world’s first thermal-sensing, people-counting data miner - allowing anyone to passively earn DAG & DOR crypto rewards after setting up their hardware device.*
Binance founder Changpeng Zhao's (CZ) wealth grew by $25 billion in 2023. He got sued, charged, and arrested by the U.S. government… but at least he’s the 35th richest person on Earth now.
Telcoin was hacked for $1.3M. The Polygon-based wallet has deployed fixes to block further exploits as it works on reimbursing all drained funds before resuming wallet app services.
Barry Silbert and Mark Murphy to exit the Grayscale board. Both resignations are effective Jan. 1, 2024.
The top 10 most expensive NFT sales of 2023. The crazy part? Bored Apes and CryptoPunks had 9/10 of the priciest buys this year.
Bitcoin faces the risk of protocol-level censorship as miners face increasing regulatory pressure. Bitcoin miners are under increasing pressure to monitor their transactions and filter out the ones connected to addresses with criminal ties.
Metal X is a selection of decentralized financial, crypto-based services running on the XPR Network. Built by Metallicus, the company behind the network itself, Metal Pay, and WebAuth Wallet, Metal X integrates seamlessly with the WebAuth Wallet and offers a number of financial services. Check out our review of their platform here!
*This is sponsored content.
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FINAL CALL TO VOTE FOR THE MILK ROAD AWARDS! 🏆
Ladies & gents, the stage is set…
The spotlights are on…
The digital red carpet has been rolled out…
The nominees have been chosen…
It’s showtime – the Milk Road Awards.
Check out the finalists and submit your votes here!
P.S. – This is the final call! Voting ends this weekend and we’ll announce the winners next week.
P.P.S. - You must be subscribed to Milk Road to enter.
MILKY MEMES 🤣
ROADER REVIEW OF THE DAY
VITALIK PIC OF THE DAY
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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.
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