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GM. This is Milk Road. Happy Memorial Day to everyone that celebrates. 

Here’s what we got for you today:

• ✍️ What to look out for this week 

• ✍️ Solana is the app revenue king

• 🎙️ The Milk Road Show: Bitcoin Surge: Sustainable or a Sucker’s Rally? w/ Scott Melker

• 🍪 Trade stocks onchain?!

WHAT TO LOOK OUT FOR THIS WEEK 📅

1/ Tariffs on the EU are postponed

Like we said on Friday, we ain’t too worried about Trump’s tariffs. 

Just as quickly as tariffs can be slapped on, they can be peeled right back off.

But here’s the real takeaway: neither the announcement nor the delay really moved crypto markets.

Which tells us one thing, the market might be done flipping out over tariff drama.

2/ Macro

It’s a loaded week for macro data. Here’s what’s on the books:

• Tuesday: Consumer Confidence data - read on how optimistic (or anxious) consumers are feeling about the economy. 

• Wednesday: Fed meeting minutes - a peek behind the curtain at what the Fed was really thinking last time they met.

• Thursday: US Q1 2025 GDP data - official numbers for how the US economy started the year. 

• Friday: April PCE Inflation data - vibe check on how much prices are rising.

And hey, if you show up every Monday wondering “what’s the macro sitch this week?”, we’ve got some good news. 👇

We’re launching a brand new newsletter: Milk Road Macro

It’s a biweekly newsletter helping everyday people get smarter about macro investing. 

First edition drops TOMORROW so sign up now to get it straight to your inbox.

3/ Earnings

This list is packed but there’s only one name we’re watching: Nvidia. 

Why? Because Nvidia’s stock is basically a proxy for AI hype.

• If Nvidia crushed earnings = AI is killin’ it

• If it flops = the AI narrative takes a hit

This earnings report could be a big mover for the crypto-AI sector, so keep an eye out. 

4/ Bitcoin 2025 (May 27-29)

As if this week wasn’t busy enough, we’ve also got the biggest Bitcoin conference of the year.

Happening in sunny Las Vegas, the speaker line-up is packkkked:

• JD Vance – Vice President of the United States

• David Sacks – White House AI & Crypto Czar

• Michael Saylor – CEO of Strategy (and the high priest of Bitcoin)

There’s many more impressive names speaking at Bitcoin 2025 so check the list if you’re curious. 

Alright, that’s everything we’re looking at this week. 

If you want real-time updates on each event, follow us on X / Twitter. 

COTD: SOLANA IS THE APP REVENUE KING 👑

Between April 8th and May 20th, Solana put on an absolute CLINIC in revenue generation.

For 42 days straight, Solana generated more daily application revenue than all of the other major chains COMBINED! 👇

Still not impressed? 

Alright Shania, lemme see if I can justify this article’s title a little further.

Some metrics are easier to fake than others – take ‘active wallets’ for example…

It’s a metric that’s often misconstrued as ‘active users’ – but that’s hand-wavey at best, because:

• Most people have more than one wallet

• It costs nothing to create multiple wallets

• And both of these factors make it an easy metric to inflate/misread

Long story longer: ‘active wallets’ is a weak sauce stat.

Application revenue, on the other hand, is very hard (or at least, very EXPENSIVE) to fake – making it a much cleaner representation of user demand.

Now – remember when Zora (the Base app) blew up and it felt like just about everyone was using/talking about it?

All of that hype and increased use barely put a dent in Solana’s revenue dominance – the lowest it got was 54% at the peak of Zora’s onchain activity. 💪

Say it with me now:

“Solana is the app revenue king!”

If you’re looking for more insights into Solana DeFi, our NOPs dropped a banger report just two days ago. Check it out!

BITE-SIZED COOKIES FOR THE ROAD 🍪

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Trade stocks onchain?! Kraken now offers trading on 50+ US stocks and ETFs on its platform.

This is a pretty wild prediction. Bitwise believes that institutions will invest roughly $300B into Bitcoin in 2026. - DL News

Axiom is absolutely smashing it. It’s generated over $100M in revenue in just 4 months.

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*this is sponsored content.
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