GM. This is Milk Road, the newsletter that delivers your daily crypto nutrients (news, insights, and memes).
Here’s what we got for you today:
- ✍️ The top 5 sectors over 30 days
- ✍️ The Fed is in a (relatively) good mood
- 🎙️ The Milk Road Show: Rate Cuts Are Here: Is Crypto About to Explode? w/ Michael Nadeau
- 🍪 The metaverse is getting an upgrade?
Wanna compete for over $15k in weekly rewards? Join the dYdX Booster Program!
Prices as of 2:00 PM ET, provided by CoinGecko.
THE TOP 5 PERFORMING SECTORS OVER THE LAST 30 DAYS 📈
Gather round folks…
It’s time for our mid-month temperature check on the top 5 best-performing crypto sectors over the past 30 days.
Here’s what’s outperforming – and why. 👇
Note: from here on out we’re only going to list the top 3 performing assets in each sector – you know, to stop this article turning into one big, extended screenshot.
1/ Staking Services (+32.6%)
Yikes, this isn’t a balanced relationship – EigenCloud is doing all the heavy lifting here.
So what caused Eigen’s outperformance?
You might think it was Monday’s announcement that Eigen will be a launch partner for Google Cloud's new Agent Payments Protocol…but the price didn’t really react to that news.
The real pump happened around 2pm yesterday.
…which just so happened to coincide with the Fed’s rate cut announcement.
2/ AI (+30.4%)
Again: one asset seems to be doing most of the heavy lifting here – but this one is less of a mystery.
Worldcoin began to absolutely rip around Sep 8th, after it was announced that the publicly traded ‘Eightco Holdings' would be forming a $250M Worldcoin treasury.
3/ NFT Applications (24.1%)
As fundamentally strong assets approach their peak, investors typically begin moving out along the risk curve, hunting for forgotten assets/sectors that may have a bull market resurgence.
…and if NFTs aren’t the king of ‘forgotten assets’ – I don’t know what is.
4/ Smart Contracts (23.5%)
The big catalysts here:
Avalanche and Solana saw the announcement of multiple DATs looking to invest billions into their respective tokens.
Meanwhile, Hyperliquid got a treasury announcement in the $500M range and broke ground on its native stablecoin ($USDH), which will only help to increase its already insane revenues.
5/ Memecoins (21.9%)
Memecoins are a little more erratic than any other sector on this list, so we’ll boil it down to this:
$DOGE saw its first US ETF launch last week, while the memecoin narrative in general has been picking up steam once again.
(And all of that was happening in the lead up to yesterday’s rate cuts.)
Sweet…so what’s the 1,000ft view here?
Lemme answer your question with another question: notice how the majority of these sectors and their underlying assets sit further out along the risk curve?
Not only that, but many of the best-performing tokens listed are now absorbing TradFi dollars (Worldcoin, Avalanche, Solana, and Hyperliquid via treasuries, and Dogecoin via its ETF).
The takeaway:
The market’s hunger for risk is growing, and when markets go fully risk-on – that’s when crypto really starts to perform.
We’ve said a bunch in the past few weeks, but we’ll say it again:
Q4 is looking reeeeal bullish right now.
P.S. If you want to see how our PRO team is trading this positive forecast in real-time, join Milk Road PRO All Access!
ONBOARD N’ EARN
Sick of onboarding your friends n’ family to crypto out of the goodness of your heart?
Wanna make some money while doing it?
Check out the dYdX Affiliate Booster Program – it’s a sprint-based rewards system where affiliates earn leaderboard prizes and bonuses for bringing in new traders.
Here’s everything you need to know:
- Sprint 6 is live now, ending Sep 29th (registrations still open)
- There’s $12k on the leaderboard + $3k in bonuses for affiliates
- Bonuses are given for both new and reactivated traders
What’s better is there’s no minimum audience required to join, and an entire Telegram Group dedicated to helping you get started.
Sprint 7 starts on Oct 1st & registrations are open now.
COTD: THE FED IS IN A (RELATIVELY) GOOD MOOD 📊
In the months leading up to yesterday’s rate cut decision, the market went from:
“We might get 1 rate cut this year” to “We’re pretty sure we’ll get 3 rate cuts this year, and another in the first half of 2026”.
That’s a pretty big turnaround.
In one sense – it’s awesome! Markets are forward-looking, so if investors think rate cuts will pick up (growing the economy) they’ll pile into risk assets ahead of time (which many did).
But it’s not without its downside risks.
Because the market is pricing in 3 cuts this year, any hint of uncertainty from the Fed can cause markets to dip.
(We’re talking: tone of voice, word choice, general demeanour – anything coming from Fed Chair Jerome Powell regarding further cuts – the market will read into it and react.)
Which is why we were happy to see the following…
The research firm, Augur Infinity, gives each Fed FOMC meeting statement to an AI and asks it to rate its tone on a scale from Hawkish (they might raise rates) to Dovish (they might cut rates).
And yesterday, we got this:
It was likely that this and the fact that the majority of Fed board members said they expect 3 cuts this year was enough to counteract some of Fed Chair Powell’s more hawkish public comments from yesterday.
But that’s really only scratching the surface.
If you want a closer look at exactly what was said, how markets have reacted overall, and what it means for the future – check out today’s edition of Milk Road Macro!
It will walk you through everything you need to know. 🤝
CRYPTO PRO “WHERE ARE WE IN THE CYCLE?” INDICATORS 🤔
If you’ve been here a while you might know that our Crypto PRO members get access to our “Where Are We In The Cycle?” indicators. Six signals we use to track the market seasons and help you spot the bull market peak before it wrecks your bags.
The thing is… they used to be kind of basic. Screen shots updated once a week. Useful, but not exactly sexy.
So we juiced them up. 🍊
Now they're:
- Updated daily, not just Thursdays
- Fully interactive (hover, pick what you see, customize time lines)
- Blow up ready (go full screen mode for extra detail)
Basically they went from reliable compass to turbo-powered GPS.
If you want that GPS in your pocket so you’re never lost in the market again….
👉 Upgrade your subscription today
And this is only the beginning. Over the next few weeks and months we’ll be rolling out more and more upgrades like this to improve the PRO experience and make Milk Road your one-stop-shop for crypto investing.
Up next on our list? The PRO All Access Portfolio. This is where you see exactly how we’re allocating—what we’re buying, holding, or trimming and most importantly why. And we’re about to juice it up. Think cleaner design, more interactivity, and an easier way to track moves in real time.
Already a Crypto PRO member? Log in here.
CRYPTO PRO REVIEW OF THE WEEK
BITE-SIZED COOKIES FOR THE ROAD 🍪
This DEX solves an actual UX issue! Milk Road Swap supports both Ethereum and Solana tokens in a single interface.
The metaverse is getting an upgrade? Users will soon be able to build games in Facebook’s Horizon Worlds metaverse by prompting an AI agents.
ETF launches just got easier: The SEC has just announced changes to its review standards that should make crypto ETFs easier/faster to launch in the US.
TradFi continues to eat: Grayscale just got the green light to launch a crypto fund holding $BTC, $ETH, $XRP, $SOL and $ADA.
Fan Tokens > memecoins. With altseason heating up, Chilliz-backed Fan Tokens could have the edge over memecoins.*
*this is sponsored content.
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MILKY MEMES 🤣
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