Today’s edition is brought to you by Cross Finance – a forward-thinking digital ecosystem offering cutting-edge financial solutions that merge banking and blockchain through its L1 blockchain, dApps, and payment card.
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GM. Milk Road: Think of us as your crypto news barista – we remember your usual, and today we've got a special blend.
Here’s what we’re serving up:
- Runes 101: Everything you need to know 📖
- These indicators will show you the bull market top 👀
- OKX launched a new Layer 2 🚀
- Bored Apes are down more than 90% 🍪
Prices as of 1:30 PM ET. Click here for our Fear & Greed Index
RUNES 101: EVERYTHING YOU NEED TO KNOW 📖
Crypto trends are like viral dances - just when you get the hang of one, everyone’s moved on to another.
(Side note: nothing will ever top the ‘Soulja Boy’ dance. There, I said it)
Crypto’s newest trend is… Runes.
In fact, Franklin Templeton (a $1.5T asset manager) dropped a new report all about it yesterday.
Here’s everything you need to know:
- Runes is a new fungible token standard on Bitcoin.
- It’s similar to how Ethereum has fungible tokens (i.e. $MKR, $SHIB, etc) except these are on Bitcoin.
- Runes is supposed to be an upgrade from existing fungible token standards on Bitcoin (like BRC-20).
- It’s designed to be more efficient and have cheaper transaction fees.
- It was created by Casey Rodarmor - the same guy who developed Ordinals, a protocol that lets you create NFTs on Bitcoin.
The crazy part? Runes has gotten a ton of hype and… it hasn’t launched yet!
It’s supposed to go live later this week during the Bitcoin Halving.
Why this matters: Some investors think Runes could be a near-term catalyst for the Bitcoin ecosystem - just like how Ordinals caused a Bitcoin NFT rush (and grew to a $2B market in under a year).
We’ll have to wait and see…
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PRO “WHERE ARE WE IN THE CYCLE?” INDICATORS 📊
Crypto moves in cycles. If you want to truly capitalize on the opportunity of this industry, you must be aware of where we’re at within this cycle.
By doing so, you can spot the bull market peak and take valuable profits before the inevitable bear market crushes your bags.
Trust the Milk Man: You don’t want to roundtrip your bags to the moon and back.
Timing the exact top of the bull market is impossible. However, leveraging various indicators that have been successful in the past can give us a better shot at spotting the top before it’s too late.
Below, we show you 5 indicators which have historically signified the top of previous bull markets. Using 1 indicator isn’t a great way to predict the top, but by combining these 5, we can significantly increase our chances.
We've also added a color-coded system to show how close each indicator is to signalling the market peak.
🟢 Plenty of room to run still 🏄 🟡 Getting closer to the top signal, but haven’t yet reached the mark ⚠️ 🔴 We’ve hit the market top indicator 🚨
Every Tuesday we update the 5 indicators below for PRO eyes only. Our recommendation is not to wait for all indicators to reach 🔴, but instead, take profits along the way as they get closer.
Let’s explore if we’re anywhere near the top of this bull market. 👇
