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GM. This is Milk Road, the newsletter that ranks crypto sectors like your grumpy uncle lists his personal grievances (unprompted) whenever the family gets together.

Here’s what we got for you today:

• ✍️ Top 5 best-performing crypto sectors

• 🥛 PRO “Where are we in the cycle?” indicators

• 🍪 Cathie Wood’s Ark Invest is making moves

THE TOP 5 BEST PERFORMING SECTORS OVER THE PAST 30 DAYS 🥇

Below is a list of the top 5 best-performing crypto sectors over the last 30 days – plus a look at the underlying tokens driving each sector’s gains…

And to take a leaf right out of early-2010’s click-bait culture: “#3 wiLL sHoCk yOu!”

(Seriously though, I genuinely didn’t see it coming.) 👇

1/ Artificial Intelligence +76.2%

We’re not SHOCKED that AI took the #1 spot – but that’s not to say we aren’t just a little surprised… 

(Given that AI is a high-risk sector, and we’ve been in a heavily risk-off environment this past month or so.) 

$VIRTUAL, $KAITO, and $AI16Z led the effort here, with all of them boasting 100%+ gains. 👇

2/ Memecoins +74.3%

Again – not shocked, but a little surprised (does risk assessment mean nothing anymore??)

Here’s who’s leading the pack:

Next up is spot #3 – NFT Applications (easily the most surprising sector on this list).

Keep scrolling to learn exactly what an ‘NFT App’ is, and which tokens are driving the sector’s performance. 👇

THE TOP 5 BEST PERFORMING SECTORS OVER THE PAST 30 DAYS (P2) 🥇

Alright – where were we?

Oh, right. NFT apps (they’re killing it somehow?) 👇

3/ NFT Applications +69.2%

Quick survey: what the hell is going on? How were NFT Applications one of the best performing sectors over the last month (and what even is an ‘NFT App’)?

Turns out, in this particular case, “NFT Apps” refer to tokens launched by NFT projects and/or marketplaces.

E.g. Pudgy Penguins led the sector’s performance with a tidy 210% gain over the past 30 days.

4/ Staking Services +60.6%

FINALLY – something we can make sense of! 

The market moves away from risk assets → investors go looking for stable/reliable yield instead → staking fits that description to a T. 

Here’re the projects doing most of the heavy lifting:

5/ Ethereum +58.3%

Ethereum – as in Ethereum-based apps? Layer 2s? Infrastructure?

…nope. 

Just Ethereum ($ETH), the blockchain token. It’s up 58.3% over the last 30 days – and the vast, vast majority of that happened in the last week or so!

Now – before seeing these rankings, we honestly wouldn’t have been able to confidently guess at some of these sectors being in the top 5…

Which means we should probably check sector performance on a more regular basis (and shore up this blind spot).

IS IT SAFE TO ALLOCATE RIGHT NOW?

Yesterday, The Milk Road Show moved outta the rumpus room and into Consensus!

Jay (your beloved podcast host) and Kyle (Head of Research at Milk Road) streamed live from CoinDesk Studio at Consensus in Toronto – answering questions like:

• The macro bloodbath – is it over?

• Should you be buying, selling or holding right now?

• What’s up with $ETH and Coinbase? Both assets have logged massive gains this week!

Click below to watch it now! 👇

YouTube | Spotify | Apple Podcasts

PRO “WHERE ARE WE IN THE CYCLE?” INDICATORS 🤔 

The 90 day reduction on US-China tariffs has given the market some short-term relief…

But where are we in the broader scheme of things? For that, we need to look at our trusty cycle indicators!

Knowing where we are in the crypto cycle is crucial for capturing the best opportunities.

Since timing the top perfectly is almost impossible, we use various indicators to give us a better shot at taking profits before it's too late.

Below are the 6 indicators we track, with a color-coded system to show how close they are to signalling the market peak:

🟢 Plenty of room to run 🏄

🟡 Getting closer to the top signal, but haven’t yet reached the mark ⚠️

🔴 We’ve hit the market top indicator 🚨

Every Thursday, we update these 6 indicators exclusively for PRO members.

Our advice? Don't wait for all of them to hit 🔴. It's better to take profits as they get closer to that point.

Let's dive in and see if we're anywhere near the top of this bull market. 👇

BITE-SIZED COOKIES FOR THE ROAD 🍪

Put your stablecoins to work and grow your stash. We just dropped a new page covering the best platforms for lending stablecoins.

Cathie Wood’s Ark Invest is making moves. They’ve sold a portion of their Bitcoin ETF holdings to invest in eToro, fresh off its IPO.

Good news about inflation: PPI data comes in lower than expected.

Ethereum is levelling up. The network just announced its ‘1TS initiative’ which plans to significantly boost Ethereum’s security.

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

**this is partner content.

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