PLUS: RWAs just hit an all-time high in total value! 🏆
Today's edition is brought to you by Gemini – your trusted US-based crypto exchange, whether you're new to the game or a pro.
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GM. This is Milk Road – aka Google Translate, for crypto!
Here’s what we got for you today:
- ✍️ $BTC supply crunch incoming?
- ✍️ RWAs just hit an all-time high in total value
- 🥛 PRO portfolio updates
- 🎙️ The Milk Road Show: Is This the Banana Zone? Rate Cuts & Market Expectations
- 🍪 Ethena Labs' domain was hacked, leading to a front-end attack
Prices as of 9:30AM ET. Click here for our Fear & Greed Index
$BTC SUPPLY CRUNCH INCOMING? 💸
$100 bottles of Prime Hydration (2022)
$10 rolls of toilet paper (2020)
$20 Pokémon Jungle Booster Packs (2000)
The through line here? Supply constraints can inflate prices. 🎈
And right now, similar constraints are starting to hit Bitcoin – check this out…
1/ $BTC balance on exchanges are at 12 month lows:
2/ The long term holders that sold the March top are now reaccumulating…
3/ Miners are starting to hoard their $BTC for the first time in ~1 year
Ok, so people have been buying and holding $BTC in greater amounts for the past month or so – all while Bitcoin’s supply on exchanges has been dwindling, lowering $BTC’s availability…
Increased demand + lowered supply = number go up (that’s the formula, right?)
But prices are still in the low $60k region – what gives?
Put simply: This accumulation happened over a long time frame, in which sellers outpaced buyers (helping to keep the price down).
By carefully purchasing $BTC in small but consistent quantities over a long period of time – smart money is able to accumulate large amounts of Bitcoin without moving the price. 🤓
…but now that the weak hands of the market are drying up, the sell pressure that accumulators have relied upon to keep prices low is evaporating.
Take that, and add the below chart, showing $15B+ worth of short liquidation above the current price, on Binance alone – which means if/when $BTC climbs to ~$75k, along the way, short sellers will have to buy back $15B+ worth of Bitcoin to repay their loans on Binance.
Then sprinkle in yesterday’s rate cut announcement, which will help to push fresh cash into the market over time…
Add it all together, and Bitcoin looks like it may be headed the way of COVID-era toilet paper:
Towards a good old fashioned supply constrained price pump! 💪
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RWA’S JUST HIT AN ALL-TIME HIGH IN TOTAL VALUE 📈
Find a clunky/outdated system → make it faster/cheaper/easier to use → print cash.
Amazon used this method to topple bookstores, Uber used it to decimate the taxi industry, Visa used it to replace bank checks…
And now, tokenized Real World Assets (RWAs) are aiming to run a similar playbook within the traditional financial world. 📋
But this isn’t some hostile land grab – in fact, big players in the TradFi space are leading the charge.
Just yesterday WisdomTree (an investment firm with ~$100B in assets under management) announced the launch of WisdomTree Connect:
(Before WisdomTree 👉 it was BlackRock, with their tokenized BUIDL fund).
And all of this development is translating into real dollar value, with the RWA sector recently hitting $12B in total value (excluding stablecoins). 👇
So what’s in it for TradFi?
Simple. Bringing traditional assets onchain means:
- A massive reduction in fees
- 24hr trading (instead of 9:30am - 4pm Mon-Fri)
- Near instant settlement (instead of 1-2 business days)
That’s the pie-in-the-sky outcome – but as with all big changes in widely used systems – it comes with challenges.
Or should we say, challengers. 👇
Ok, ok. It’s not him alone. 😆
Clear regulatory guidelines and universal compliance tooling is needed in order for TradFi to really be able to run with the idea of ‘tokenizing everything.’
Jury’s out on when/if we’ll see the former – but, Know Your Customer (KYC) and Anti Money Laundering (AML) compliance tools are already being worked on.
Check this out…
This user scans their Passport’s NFC chip, logs it on the blockchain, and can now let apps/platforms verify their identity without giving over all of their details. 🪄
Instead, platforms can ask yes/no questions, like:
- Has this person provided ID?
- Are they a US citizen?
- Are they over the age of 18?
Now, here’s what’s in it for crypto natives:
If traditional assets start to be traded on crypto rails, it opens the blockchain space up to a whole new world of demand driven price appreciation.
(‘Cause every trade requires fees to be paid in the underlying blockchain’s native token).
Count us in! 🤝
MILK ROAD PRO PORTFOLIO UPDATES 📊
Is…is this real?
Are we about to report a weekly net-gain across our portfolio??
Like clock-work, every Thursday, we share our updated list of investments from the Milk Road PRO Portfolio.
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 in 2024” report to learn more about our portfolio strategy.
Portfolio performance 📈
The Milk Road PRO Portfolio saw a slight increase over the past 7 days. Our portfolio value is at $85.7K, up 1.7% since last week.
🎉 Congratulations! We’ve finally arrived at the moment we’ve all been waiting for - a day of all GREEN.
Are we officially in the banana zone? 🍌 Not so fast… the signs are strong, and the odds are looking better everyday.
But hang tight—we may need just a few more days to weeks to lock in confirmation on a longer timeframe. Check out Kyle’s episode on The Milk Road Show for more details on wen Banana zone and what to expect in the coming weeks for markets! A little more patience is needed before we pop the champaign, but everything we’ve been saying in terms of macro and the cycle appears to be falling into place. Good times are coming our way! 🤗
Portfolio changes 👀
The Milk Road PRO Portfolio is available for Milk Road PRO members only.
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- Full access to the Milk Road PRO Portfolio. 👆
- NEW: Our yield strategies 👀
- Our weekly reports that help you invest successfully in crypto. 💰
- Full access to our weekly bull market peak indicators. 📊
- Full access to the Milk Road PRO community. 🫂
- 50% OFF the crypto investing masterclass 📚️
PRO REVIEW OF THE WEEK
BITE-SIZED COOKIES FOR THE ROAD 🍪
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Louisiana has become the first U.S. state to accept Bitcoin for utility payments, aiming to attract younger, tech-savvy citizens. This initiative is expected to streamline public services and might prompt other states to explore similar options.
Solana’s Seeker smartphone, set for release in 2025, has already secured 140,000 pre-orders. The phone is priced at less than half of its predecessor, with upgrades including a brighter display, longer battery life, and improved cameras.
Ethena Labs' domain registrar was hacked, leading to a front-end attack on their website. While customer funds remain safe, users are advised to disconnect wallets and avoid interacting with the site to prevent phishing attempts.
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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.
