GM. This is Milk Road, we cut through the noise (like a hot knife through butter on a summer's day) to bring you the cleanest crypto insights available!

Here’s what we got for you today:

• ✍️ Infrastructure is not forever

• ✍️ Stablecoins’ next target

• 🥛 Milk Road PRO Portfolio updates

• 🎙️ The Milk Road Show: Crypto Pulse Check: PumpFun Token, ETH Treasury Strategy & VC Funding Trends w/ Keli Callaghan

• 🍪 Trump media files for another crypto ETF

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INFRASTRUCTURE IS NOT FOREVER ⚠️

Three pieces of infrastructure technology that have either changed the world, or are in the process of doing so:

• The Apache (the most common type of web server)

• The H100 chip from Nvidia (the most common AI chip)

• The blockchain (gonna go ahead and assume you know what that is)

But here’s the thing: they’re all different forms of infrastructure technology.

…and while businesses that sell infrastructure products tend to print cash in the early days of an adoption curve, once the bulk of it is laid out – that crazy growth dries up.

From there on out, the bulk of the spoils go to companies building products and applications on top of that tech.

Take Cisco (the web1 infrastructure company) for example: 

They were one of the biggest winners of the early internet boom. But once the infrastructure was laid – their growth dried up. 

Hell, they’re still chasing their all-time high from – wait for it – the year 2000. 👇

We believe we’re seeing the beginning of that transition of power from ‘infrastructure’ to ‘application’ in the blockchain space.

Where some of the biggest winners of this new technology sector will be the ones leveraging the infrastructure on your behalf.

(The same way Apple leverages the global network of web servers to power key features of the iPhone.)

Take $SBET for example. I’m super bullish on their model.

Not only because I was able to elbow my way into their closing bell ceremony at the Nasdaq yesterday / trick them into putting my photo up in Times Square (hi mom!)... 👇

…but also because of what they’re building.

TradFi wants to use DeFi. But they still can't allocate onchain.

And even if they could – the process is riddled with friction.

(Set up a wallet → safely store your key phrase → navigate to a trusted platform → figure out a whole bunch of new terminology → pick a strategy → deploy your cash… it’s tiring.)

So if you’re a TradFi investor – instead of making the jump to DeFi yourself, professionals at $SBET are acquiring $ETH via cheap debt and allocating it into staking, restaking and lending to earn yield on your behalf. 

All you need to do is buy the stock.

Lemme say it again: some of the biggest winners of this new technology sector will be the ones leveraging the infrastructure on your behalf.

P.S. We’re dropping a PRO report this Saturday, covering the massive changes that have recently taken place within Ethereum and what it means for its future.

STABLECOINS’ NEXT TARGET: THE GLOBAL CONSUMER 🎯

Two themes from our previous article:

1. When analyzing adoption curves, zoom out and look at the bigger picture

2. Make something easy to use/access → more people will adopt it

Let’s continue with those themes and look at the new king of money movement.

It’s not PayPal, Venmo, or Zelle – it’s Tether’s $USDT.

Tether is now moving $1 trillion (with a ‘t’) every. single. month – settling across wallets, exchanges, networks, and borders at a scale that many legacy payment methods can’t compare to. 👇

For context: PayPal, Zelle, and Venmo move about $250B worth of peer-to-peer payments per month, combined. 

While Tether has a broader reach than just peer-to-peer payments (including, but not limited to crosschain transfers), its 4x lead is still damn impressive.

Right now, the average transfer amount is high (~$35k on Ethereum, and ~$10k on Tron) – which tells us Tether currently serves the wealthy.

But on a global scale, stablecoin technologies (like Tether) have the capacity to go mainstream.

…ok, how? 

(Try using Tether to shop online, pay rent, or split a check with friends – instead of PayPal, Zelle, or Venmo. It’s going to be WAY harder.)

Remember our leading theme: when analyzing adoption curves, zoom out and look at the bigger picture.

Most of the world doesn’t have easy access to PayPal, Zelle, Venmo, or even US dollars.

Stablecoins like $USDT help to fill all of those gaps in the global market, instantly and permissionlessly.

(See: theme #2. Make something easy to use/access → more people will adopt it.)

Our takeaways here:

First – living in North America, we may never use stablecoins as our default payment method or US dollar-storage medium… but it doesn’t mean the rest of the world won’t.

Second – we don’t expect to see this lead narrow any time soon. 👇

MILK ROAD PRO PORTFOLIO UPDATES 📊

Each month, we take $1k and add it to our portfolio. 

This month, we decided to put the entire amount into a single asset.

Wanna know which token is soaking up our capital?

Go PRO and keep scrolling to find out. 👇

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 moderate increase over the past 7 days. Our portfolio value is at $175.1K, up 3.30% since last week.

US stocks hit all-time highs last week, with the S&P 500 and Nasdaq leading the charge. 

Since then, the market's been taking a bit of a breather, but there’s no clear sign that the upward trend is slowing down. 

Bitcoin is still hovering around $108K, moving sideways, and most of our positions are doing pretty much the same.

Portfolio changes 👀

BITE-SIZED COOKIES FOR THE ROAD 🍪

What if everything you thought was “responsible” money management… was actually holding you back? Our article on Bitcoinmath runs the numbers to show you.*

The reciprocal tariff deadline has been pushed to August 1st. Tomas breaks down how this can impact your bags in the latest Milk Road Macro edition.

Trump media files for another crypto ETF. This time, it’s a ‘blue-chip crypto ETF’ that will include $BTC, $ETH, $SOL $XRP and – wait for it – $CRO.

$1B crypto treasury. ReserveOne, backed by some of crypto’s biggest names, is going public with a bold goal: to build a massive crypto treasury firm.

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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