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- 🥛 Solana is on FIRE! 🔥
🥛 Solana is on FIRE! 🔥
PLUS: From $52 --> $100,000 🤯
Today’s edition is brought to you by Coinbase Wallet - a self-custodial wallet designed for an easy user experience, and backed by one of the biggest names in the industry.
GM. This is Milk Road, the newsletter that helps you unwrap crypto faster than a 6-year-old unwraps their presents on Christmas morning.
It’s the last edition before the holidays (Merry Almost-Christmas, ya filthy animals) …
… so today we’re sliding down your chimney to drop off 5 quick gems.
Solana’s DEX volume 100x’d in 3 months 🤯
ETH trading pairs are down, SOL trading pairs are up 🔥
The restaking mania continues 📈
Trade of the Week: From $52 → $110,000 💰
Coinbase goes French 🍪
SOLANA’S DEX VOLUME 100X’D IN 3 MONTHS 🤯
Here’s a wild stat for ya… (shoutout to @Dynamo_Patrick for putting it on the radar).
Solana’s DEX trading volume on Sept. 22… $13.24M.
Solana’s DEX trading volume on Dec. 20…$1.55B. (as in B, for billions!!)
That’s 100x growth in 3 months. 🤯
OK! WE SEE YOU SOLANA!
What happens when you bring the entire world of crypto to the most user-friendly wallet?
You get the most downloaded crypto wallet in the U.S. in the last 5 years.
And when we say the entire world of crypto, we mean it. Coinbase Wallet allows users to do it all: collect NFTs, swap tokens and earn yield, participate in DAOs, and much, much more.
Here’s what you need to know:
Coinbase Wallet supports an ever-growing list of hundreds of thousands of tokens and dapps, while ensuring users receive the best swap prices.
Users are able to convert between fiat and crypto with ease, with flexible buying options such as bank accounts, local payment methods, and debit/credit cards in 130+ countries.
Security is at the forefront, with advanced security features such as biometrics, passwords, and hardware wallet integration.
There is support for all major blockchains, including Bitcoin, Ethereum, Solana, all EMV-compatible networks, and more.
And now, Coinbase Wallet is taking it a step further. You can now send crypto to anyone as easy as a text, even if they don’t have a wallet yet.
ETH TRADING PAIRS ARE DOWN, SOL TRADING PAIRS ARE UP 🔥
In a bull market, most tokens see big, green gains.
It’s like that episode of Oprah…“You get a price pump! You get a price pump! Everyone gets a price pump!”
But not all gains are created equally... some jump 50%, others 100%.
This is why it’s important to track how assets perform relative to each other.
That’s where trading pairs come in. They denominate the price of one cryptocurrency in the price of another cryptocurrency vs. just U.S. dollars.
Well, check it out… here’s how some popular trading pairs are performing recently:
ETH/BTC: -30% and bleeding 📉
SOL/BTC: +260% year-to-date and pumping 📈
SOL/ETH: +410% and pumping 📈
THE RESTAKING MANIA CONTINUES 📈
121 days ago, we tested something new out on the Milk Road Public wallet…
EigenLayer. It’s a protocol that lets you take your staked ETH, and restake it to earn additional yield.
We dropped a whole edition about it. If you read it and got in on the action, congrats - you got in right before the mania started…
EigenLayer’s growth has been pretty impressive:
Just reached $1B+ in deposits.
160% increase in total value locked (TVL) over the last 90 days.
140% increase in core developers over the last 90 days. (Milk Road Rule #32: If you wanna know the next big trend, follow the nerds).
The best part? We’ve been accruing some sweet sweet “restaking points” over the last few months.
All we did was restake 1 stETH and we’ve earned almost 3,000 points!
According to this Dune leaderboard, we’re ranked 9,000 out of 60,000 in points. Not too shabby. For almost no work.
And if EigenLayer decides to launch a token, which a lot of people predict they will, we might see a nice juicy airdrop!
Every once in a while, you’ll come across a crypto trade that’ll make you do a double take...
You’ll start questioning whether laws were broken in the process…
Well, check out this trade from $52 → $112,000.
How? Black magic A new memecoin, DogWifHat ($WIF).
P.S. - we have no idea who this is… but damnit, we’re still cheering them on like an NBA fan that just hit a half-court shot to win a brand new car!
Custody without compromise. Bakkt's® relaunched custody platform is built for flexibility and secure innovation. — learn more about its enhanced features and how it differentiates Bakkt as the responsible custodian in crypto here.*
Coinbase secured a virtual asset service provider (VASP) license in France. This will let the crypto exchange offer various crypto asset activities in France; like custody, trading, and payments.
Circle received conditional registration to provide digital asset services in France. Coinbase and Circle in 1 day. Nice. I guess France was running a 2-for-1 special on crypto licenses.
MoonPay launched a new checkout tool to easily buy NFTs using credit and debit cards. It’s a no-code tool that can be easily added to websites to let customers purchase NFTs across dozens of chains using debit and credit cards.
*This is sponsored content
MILKY MEMES 🤣
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Happy Holidays to all the Roaders out there 🙏
— Milk Road Images (@MilkRoadImages)
11:08 AM • Dec 22, 2023
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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.