Today’s edition is brought to you by CoW Swap – the DeFi exchange of choice for whales, DAOs, and other expert traders.
GM. This is Milk Road, the newsletter that burns you a brand-new CD mix with the best hits from crypto every day.
Here’s what's on today’s mix:
- Market movers: winners & losers 📊
- 3 things to watch this week 👀
- These metaverse projects are down 90%… 🍪
Prices as of 10:30 AM ET
MARKET MOVERS: WINNERS & LOSERS 📊
Crypto prices are a lot like my 4-year-old nephew's mood during a car ride - unpredictable.
One moment, prices are up. The next moment, they’re down.
Lucky for you, the Milk Man has been keeping a close eye on prices over the last week. Here are a few tokens that popped up on his radar:
We got 2 winners and 1 loser.
2 WINNERS
1/ PEL is up 52% over the last 7 days.
What is it? Propel is a blockchain infrastructure provider. It helps developers easily build and scale decentralized apps (dApps).
Why’s it up? With more projects trying to build products around DeFi, staking, etc, plug-and-play solutions like Propel have been booming.
2/ VRA is up 17% over the last 7 days.
What is it? Veracity is a blockchain built for digital entertainment and content.
It helps fight against advertising fraud, gives access to publishers to monetize their content better, and rewards users for watching content.
Why’s it up? The blockchain is powered using a mix of artificial intelligence and machine learning and has been going viral across Twitter over the last week.
Crypto + A.I + M.L = the Holy Trinity for Price Pumps.
1 BIG LOSER
1/ $MULTI is down 43% over the last 7 days.
What is it? Multichain is a bridging protocol that lets blockchains easily operate with one another.
Why’s it down? There have been major network issues and transaction delays over the last week. Now, there are rumors circulating that the founding team may have been arrested.
When it rains, it pours.
TRUST THE EXPERTS: TRADE ON COW SWAP
A swap on a decentralized exchange has a lot of moving parts. But at the end of the day, all that really matters is getting the best prices – and DeFi experts know that more times than not, they get more for their trades with CoW Swap.
That’s because CoW Swap has:
- Expert execution: CoW Swap is built on an open order flow auction where the winner is the party that finds users the best prices for their trades
- Expert protection: CoW Swap provides MEV protection that is one order of magnitude better than any other DEX – meaning more money in users’ pockets
- Expert order types: CoW Swap offers surplus-capturing limit orders and ERC-1271 smart orders that allow users to program any custom order type they’d like
CoW Swap was built by expert engineers from Gnosis – one of the most-respected OG Ethereum projects. And it’s packaged in a smooth interface you don’t need to be an expert to use it.
It’s no surprise that 60% of CoW Swap trades come from whales – including Vitalik Buterin himself – and that CoW Swap has 2x the retention rate of any other DEX or DEX aggregator.
So trade like the experts, try CoW Swap today.
PS - CoW Swap currently looking for testers. If you are interested in a (compensated) chat with their research team, sign up here.
3 THINGS TO WATCH THIS WEEK 👀
We get it - you Roadies are busy people. The NBA playoffs are on. Summer is right around the corner. And my wife tells me there’s a new season of the Kardashians (lord help us).
It’s a crazy time.
But there are 3 things you need to keep an eye on this week in crypto:
1/ Token Unlocks
Token unlocks are important and every crypto trader needs to know about them.
Typically when a token launches, there are early investors, employees, developers, etc that all receive tokens for cheap. Sometimes they even get the tokens for free.
But the tokens are “locked” for a certain period of time. This is so investors don’t immediately sell the tokens, take the profit, and run for the beach to sip on margaritas.
Well, there are a bunch of tokens unlocking this week:
- Optimism (OP) will unlock 386M tokens (worth ~$580M)
- Hedera (HBAR) will unlock 1.2B tokens (worth ~$68M)
- 1inch (1INCH) will unlock 250M tokens (worth ~$100M)
- Sui (SUI) will unlock 61M SUI tokens (worth ~$64M)
So what? Token unlocks are usually followed by one thing… price volatility.
And with some of these projects unlocking $100M+ in tokens, we expect prices to move up and down like it was the Drop of Doom at Six Flags.
(P.S - this is a cool tool we use to track future token unlocks)
2/ Hong Kong opens crypto trading to retail investors
All eyes are on Hong Kong this week.
Why? Because starting on June 1st, crypto trading will be open to retail investors.
This means citizens will legally be able to buy/sell popular cryptocurrencies (like BTC, ETH, etc) on licensed exchanges. Gamechanger.
So what? This is big for 2 reasons…
- Many think this could start a mini-bull run. More traders = more volume = higher prices.
- If crypto trading goes well in Hong Kong, it could spread to other parts of China
China has a weird relationship with crypto... one day, it’s legal. Then it gets banned. Then it gets unbanned.
It’s a lot like my mom trying to decide what to order at a restaurant. She changes her mind 5 times and then just orders the first thing she saw.
Here’s what the crypto landscape in China looks like right now.
So, if the crypto trading experiment ends up running smoothly in Hong Kong it could end up being adopted in other parts of China soon too.
3/ The U.S. will release its new labor report
Growing up sucks. You go from reading Captain Underpants books → reading government economic reports. (booo!)
The next important economic report coming this week? The U.S. monthly jobs report.
This gives a snapshot of important info like how many jobs were created during the month, how many people were unemployed, how many hours everyone worked, etc.
So what? The U.S. monthly job report is often the first major economic report released during the month.
Depending on the results, it can be a market-moving event and sets the tone for other economic reports that follow (like the Feds’ decision to hike interest rates or not.)
*Gulp*
Ladies & gents, brace yourselves for another busy week in crypto.
INTRODUCING: MILK ROAD PRO
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But for those looking to level up their crypto investing, we’ll be launching exclusive subscriber-only content later this summer via…. drumroll….
Milk Road Pro. But first, we want to hear from you - the Milk Road Nation.
So, we created this survey to gather more info on what would be valuable to you. Check it out!
MILK & COOKIES 🍪
Most metaverse projects are down ~90% since peak prices in 2022.Ouchie.
The Hong Kong Police Force is launching a new project called “CyberDefender” to help prevent crime in the metaverse.I’m just waiting for Batman to announce his move to the metaverse next…
Bali warns tourists that use crypto as a form of payment will be “dealt with firmly”. Using crypto to pay for stuff is a big no-no in Bali and can lead to big fines and jail time. (This is the government’s “f*ck around and find out” warning…)
A dormant wallet with 8000 ETH “woke up” over the weekend. The wallet hasn’t made any transactions since 2015 when it bought 8000 ETH for ~$2,500. Today, that’s worth ~$15,000,000.
MILKY MEMES 🤣
HIT THE INBOX OF 250K+ CRYPTO INVESTORS
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ROADER REVIEW OF THE DAY
VITALIK PIC OF THE DAY
GM Roadies ☀️
— Milk Road Images (@MilkRoadImages)1:49 PM • May 30, 2023
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.
