GM. This is Milk Road, the newsletter that helps you swim against the 'Crypto Twitter Current', with ease.

Here’s what we got for you today:

• ✍️ PumpFun’s ICO (everything you need to know)

• 🥛 Milk Road PRO Portfolio updates

• 🎙️ The Milk Road Show: Bitcoin Just Getting Started + Why TAO Could 100x From Here w/ Karia Samaroo

• 🍪 SharpLink Gaming ($SBET) becomes the top $ETH holder

IRA Financial lets you invest in Bitcoin & Ethereum without triggering taxes on your gains. Check if you qualify for an account. 

PUMPFUN’S $PUMP ICO (EVERYTHING YOU NEED TO KNOW) P1 🧠

Yesterday, I listened to our General Manager, Tyler, spend 12 minutes arguing the point that: 

“a JeAn jacKet aNd caRGo shOrtS cAn dOubLe aS fOrmAl wEar.”

(It was a long 12 minutes)

Inversely, in a very short 12 minutes this past weekend, PumpFun raised $600M in its $PUMP initial coin offering (ICO).

And on top of that, it raised a further $720M in a separate private sale – bringing the running total to $1.32B!

So here’s EVERYTHING you need to know, including:

• The launch

• The token’s utility

• The performance so far

• The big, hairy, audacious goal Pump is swinging for

Ready? Good.

1/ The launch 🚀

• ICO Price: $0.004 per token

• Total Supply: 1 trillion tokens

• Fully Diluted Valuation: $4 billion

• Total percentage of supply sold at ICO: 33% (15% public, 18% private)

🌶️ Hot take: everyone’s mad that this token drop was a sale (ICO), and not a giveaway (airdrop) – but we think they’re missing the point entirely.

The industry needs to rethink its baked-in processes. 

Airdrops were largely used to pacify the previous form of the SEC – allowing projects to claim they were decentralized ‘cause they gave a bunch of their token supply away.

But those days are behind us, which now means giving away huge chunks of capital to bot farms via airdrops makes zero sense for most projects.

Builders need to learn how to raise capital effectively so they can expand beyond the crypto-native bubble. 

We’re hoping the $PUMP ICO will clear a path and prove the method.

2/ Token utility 🔨

Right out of the gates, 25% of PumpFun’s revenue will be distributed to $PUMP token holders.

The more people trade on PumpFun → the higher the volumes → the greater the revenues → the more $PUMP holders earn.

And that’s on top of any appreciation in the $PUMP price.

…speaking of which – how’s that going?

Keep scrolling to find out. 👇

PUMPFUN’S $PUMP ICO (EVERYTHING YOU NEED TO KNOW) P2 🧠

So you bought the $PUMP ICO? (You little degen).

Let’s see how you’re doing so far. 

SPOILER: not bad.

3/ The performance so far 💰

Since $PUMP started trading on public exchanges yesterday, it’s up ~9.5% from its first hourly close of $0.005179.

But most people (buyers of the ICO) got in at a nice clean $0.004…

Meaning ICO buyers are currently up ~42.2% at the time of this writing. 👇

Nothing INSANE just yet – but respectable.

…so how does Pump plan to add a zero or two to these ICO returns?

4/ The big, hairy, audacious goal Pump is swinging for 🥅

(How’s that for a battle cry!?)

The reframe: PumpFun is no longer just about memecoins. 

It’s a platform where you build a following around whatever you’re interested in (just like any other social platform) — but the core metric of success is market cap, not followers.

And in a roundabout way, the social building blocks are there…

Pump has a feed made up of trending tokens, it has profiles in the form of a token’s chart page – plus a bunch of other features like: comments, group chats, and livestreaming.

🥛 Milk Road take:

This is a left-of-field approach to building a social platform… but that’s why we like it. 

You’re not going to out-Instagram Instagram. You need to do something novel. And PumpFun is about as novel as it gets.

Sure, ‘a financialized social feed’ isn’t what we had on our bingo card for the next big social platform…

But neither was ‘teens dancing/lip syncing to songs’ – and TikTok built an empire off it.

PumpFun is taking an ingrained mega trend (social media) and combining it with a fast-growing interest: speculation.

(No, seriously, young people love to gamble – the most active demographic on DraftKings and FanDuel are aged 21-34)

Will it work? No idea. 

But it’s these kinds of big bets that make the crypto space so damn exciting.

MILK ROAD PRO PORTFOLIO UPDATES 📊

We just made a BIG change to our portfolio.

Wanna know which token got the axe and which one absorbed its gains?

We’re answering exactly that in this week’s Milk Road PRO Portfolio update! 

Disclosure: We are not a day trading portfolio so don’t expect a high volume of trades. Read our “How To Build a Crypto Portfolio” report to learn more about our portfolio strategy.

Portfolio performance 📉

The Milk Road PRO Portfolio saw a significant increase over the past 7 days. Our portfolio value is at $192.7K, up 10.57% since last week.

Our portfolio just hit a new all-time high, and looking back over the past 30 days, we’re up 30% — pretty solid gains.

Bitcoin and the total crypto market cap also reached new all-time highs this past week, so it's great to see our portfolio moving in line with broader market strength. 

But maybe more importantly, the market feels very healthy right now — there’s barely any leverage in the system, and retail hasn't really shown up yet.

👉 If you’re already thinking about taking profits or closing some positions — don’t. The market still has plenty of room to grow. 😉

Portfolio changes 👀

BITE-SIZED COOKIES FOR THE ROAD 🍪

The 11th edition of the European Blockchain Convention returns to Barcelona. With the EU opening up to crypto, you don’t want to miss this conference. Use code “MiLkROADebc” for a 20% discount on tickets.*

SharpLink Gaming ($SBET) becomes the top $ETH holder. Overtaking the Ethereum foundation, they now hold 280K $ETH.

Crypto adoption is only going up. Standard Chartered, a massive global bank, will offer spot trading for Bitcoin and Ethereum.

Trump wants lower rates while Powell is standing firm. Here’s why the Trump Powell beef is important for markets.

Is spot trading a little too boring for you? dYdX lets you trade perpetuals onchain with zero gas fees.**

*this is sponsored content.
**this is partner content.

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