🥛 New platform steals 40% market share 🥊

GM. This is Milk Road, the daily newsletter that brings you insights from the front line of crypto.

Here’s what we got for you today:

✍️ The launchpad wars reignite
✍️ Kanye West’s memecoin
🥛 PRO “Where are we in the cycle?” indicators
🎙️ The Milk Road Show: Why the Crypto Core Could Outperform the Mag 7 in the Next Decade w/ Elliot Chum
🍪 Blame the current weakness on the season

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Prices as of 2:00 PM ET. Click here for our Fear & Greed Index.

THE LAUNCHPAD WARS REIGNITE 🥊

It’s been one week (exactly) since we wrote an article titled:

“PumpFun Reclaims The Throne.”

…so naturally, a new memecoin launchpad has since popped up trying to threaten Pump.

It’s called Heaven. Its token is $LIGHT. And yesterday, it took ~40% of Solana’s memecoin launchpad revenue share. 👇

Source: adam_tehc/Dune

So what’s its edge? How does it make its money? And how’s its token performing so far?

Here’s everything you need to know:

1/ Heaven’s edge

First, let’s address the elephant in the room: yes, “Heaven’s Edge” sounds like a sick sci-fi/fantasy book that Apple would try (and fail) to convert into a successful TV series.

Good. Now that that’s out of the way…the platform’s schtick is that it takes 100% of its launchpad & DEX revenue, and uses it to buy n’ burn its $LIGHT token.

But this isn’t some short-term incentive – it’s permanent.

And in the 7 days that the project has existed, it has bought n’ burnt ~$2.9M worth of its $LIGHT token. 👇

Source: adam_tehc/Dune

Which doesn’t sound like much, given PumpFun is buying back $1-2M of $PUMP per day…

But $LIGHT is a much smaller token by market cap – $177M fully diluted value (FDV) compared to $PUMP’s $2.9B – so Heaven’s buy pressure should have a greater effect on its token price.

Ok, but if they’re spending ALL of the revenue, indefinitely…

2/ How the hell does Heaven make money?

It’s all about the $LIGHT token.

When they ran their Initial Coin Offering (ICO) last week, they sold off 50% of the token supply, raising ~$27M.

The other 50% of the supply will help keep things running and make sure people behind the scenes are getting paid once that $27M runs out. 👇

Source: SolanaFloor

The bet Heaven is essentially making here:

If we put 100% of revenues into $LIGHT → others will want to own it / use our platform → consistently adding value to the token over time (which we’ll convert into cash when needed).

It’s a bold strategy Cotton, let’s see if it pays off for ‘em.

(And so far, it is…) 👇

3/ How’s $LIGHT performing so far?

Pretty well. Though it’s still very early days.

The token’s ICO price was ~$0.044. It’s currently sitting at ~$0.17. So a 290% gain (give or take) over 5 days. 👇

Source: @TradingView

Eurgh…you know what I just realized?

Since we’re on the topic of memecoins – we’re probably going to have to talk about Kanye West’s ‘$YZY’ token launch.

(It’s too big of a story not to address.)

Here’s our promise:

Scroll to the next article and we’ll make sure you know everything you need to know, in the shortest time possible. 👇

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KANYE WEST’S MEMECOIN 😑

At 10pm (ET) last night, Kanye West (or whoever is in control of his X account) posted this:

Source: @kanyewest

That jumble of letters is a contract address that allows folks to buy the $YZY memecoin.

In a surprise to no one, the token pumped n’ dumped in record time:

It launched at ~$0.20, with a ~$200M fully diluted market cap (FDV) →
Ripped 1,450% to $3.16 (or a ~$3.16B FDV) →
Cratered ~68%, before flatlining

All within roughly 5 hours. 👇

Source: GeckoTerminal

Boom. Done. Consider yourself caught up.

Now, can I get a “😑”?

CRYPTO PRO “WHERE ARE WE IN THE CYCLE?” INDICATORS 🤔

3 burning questions:

What’s with this week’s market slump?
When can we go back to last week’s “UP ONLY” programming?
And most importantly: should we be concerned about this current weakness?

Let’s check in with our trusty crypto cycle indicators to see what’s going on…

ICYMI: since timing the top perfectly is almost impossible, we use various indicators to give us a better shot at taking profits before it's too late.

Below are the 6 indicators we track, with a color-coded system to show how close they are to signalling the market peak:

🟢 Plenty of room to run 🏄

🟡 Getting closer to the top signal, but haven’t yet reached the mark ⚠️

🔴 We’ve hit the market top indicator 🚨

Every Thursday, we update these 6 indicators exclusively for PRO members.

Our advice? Don't wait for all of them to hit 🔴. It's better to take profits as they get closer to that point.

Let's dive in and see if we're anywhere near the top of this bull market. 👇

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