🥛 Who are the top ETH traders for the last year?

GM. This is the Milk Road where we promise to be your first friend in the metaverse….because everyone needs a friend.

Estimated read time: 2 minutes and 55 seconds

Here’s what we got for you today:

• 👀 Looking at the best & worst ETH traders

• 💰 Anchor lowers their APY rates from 20%

• 🥛 Quick nuggets

• 📈 Chart of the Day

WHO ARE THE TOP ETH TRADERS FOR THE LAST YEAR?

Meet Dmitri - our secret weapon from Luabase. He’s basically like a supercomputer with limbs.

Dmitri (pronounced “dim eat tree”) is going to be doing data dives for the Milk Road.

We call this first one “The Pelosi Wallets.” Named after Nancy Pelosi, the politician who somehow happens to have amazing timing with her stock trading…

So the question is: who’s the Pelosi of crypto? Which wallets had the best timing to buy low and sell high?

Dmitri, you take it from here

D: Ok, so I looked at a total of 146M different wallets. Surprisingly only about 8M of these bought and sold ETH at least once in the last year. So who had the best and worst timing?

The results:

Best traders: The best trader managed a 164% return by buying on July 20th and selling on Nov 8th. They almost had perfect timing.

The perfect trade would’ve been to buy on Jul 17th when it was $1,787 and sell on November 7th when it was $4,812.

Worst traders: One of the worst traders of the year was the person behind this wallet. They had bought near the peak in May and sold 70% of their ETH 2 months later for a loss of ~$17k. Not a huge loss, but price-wise, the worst timing.

Crazy stat: The average trader made just 1% in returns during this time.

So who were these traders?

Because it’s the blockchain, you can see who owns what!

I traced some of the top wallets back to their Twitter accounts:

6 of the top 10 traders (who we found on Twitter) are developers (not too surprising)

Basically, everyone on the list is a “techie”. (Advice: follow the nerds and smart people!!)

The best trader with a linked Twitter profile was Hazelstar_. She works at a crypto fund and even created a crypto coworking space in Portugal. She made 114% returns on average, with a total profit of $186k.

Looking at her wallet, she’s now focused on Avalanche. She currently has ~65% of her assets on the Avalanche blockchain, and only 23% still on Ethereum.

Anyway, just some fun weekend blockchain data diving. Let me know if you guys have any other questions.

Thanks, Dmitri - you’re a scholar and a saint.

If you like Dmitri’s Data Dive, let us know and we’ll bring him back. If you didn’t like it, say nothing and we will never speak of this again.

ANCHOR PROTOCOL LOWERS THEIR APY FROM 20% to 18%

Anchor has officially lowered its interest rate from 20% for the first time ever.

The new rate is ~18% and it will go up or down by up to 1.5% each month moving forward.

If you’re new to Milk Road, Anchor is a protocol that lets you deposit stablecoins to get a stable annual return. And we love it.

I mean, who wouldn’t love getting 15-20% interest on your deposits?? Compare this to the .01% interest you get from Wells Fargo and other banks and it’s a no-brainer.

Milk Road Take: We predicted this was going to happen. Most of the rates these protocols give are unsustainable and will eventually drop. 18% is still an awesome rate. I just deposited ~$28k into anchor at that rate, and it should net ~$5k in interest this year.

The question is - will the rate keep dropping? The current rates are unsustainably good. How long will they last?

THE MAKER OF TOMB RAIDER IS SELLING THEIR IP FOR $300M TO GO ALL IN ON CRYPTO GAMES

Square Enix, a video game publisher, is selling three development studios and the IP to 50+ games for $300M to go all-in on developing blockchain-based games.

They’re selling Tomb Raider, Deus Ex, Thief, and a few others to another gaming studio.

Square Enix has been extremely vocal about the future of blockchain gaming and how big it could be. Here’s what they said:

“Blockchain games, which have emerged from their infancy and are at this very moment entering a growth phase, are built upon the premise of a token economy and therefore hold the potential to enable self-sustaining game growth”

Translation: YOLO, let’s go get that NFT money

FIVE QUICK NUGGETS

Equinox, the boujee gym, is now accepting crypto for membership payments in NYC. Pay for your gains with your (crypto) gains. God I’m so good at this.

Crypto.com announces they are cutting rewards for their VISA card reward program. Their native token CRO is down 10% on the day and hit a 6-month low... where’s Matt Damon to save them??

VanEck, a multi-billion dollar fund management firm, is releasing an NFT collection that will serve as virtual membership cards. It’s free for the first 1000 that sign up and you get early access to their digital asset research and invites to events

Two of the largest banks in Argentina, Banco Galicia and Brubank, are now offering crypto trades on their platforms.

Tangible, a new NFT marketplace that converts real-world assets into NFTs is officially live. Right now you can buy watches, wines, and gold and you can redeem your NFT for the physical object at any time.

TODAY'S MILK ROAD IS BROUGHT TO YOU BY FTX US

I’m sure you’ve heard of FTX US by now, whether it’s because of all of the new products they've launched (we talked about their white label product here), their Super Bowl commercial with Larry David, or their Founder, SBF, on Twitter.

FTX US is a safe, regulated way to buy Bitcoin and other cryptocurrencies, plus you can trade crypto with up to 85% lower fees than any other exchange on the market. You can even buy NFTs on the FTX app from top ETH and Solana collections without getting hit with fees.

Simply put, FTX gets it and makes crypto exposure accessible, easy, and secure.

Download the FTX app on your phone today, use code MILKROAD for free crypto on every trade over $10, and start building your portfolio in less than 3 minutes. It’s that easy.

Sign up here!

CHART OF THE DAY

OpenSea broke some records to kick off the month. They saw ~$476M in volume on the 1st.

See ya tomorrow!

Shaan "Chocolate Milk" Puri and Ben "2% Milk" Levy

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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.