GM. This is Milk Road, the daily newsletter that keeps you abreast of crypto (and is apparently mature enough not to make a joke around the word ‘abreast’?)
That’s growth baaaby!
Here’s what we got for you today:
- ✍️ Top 5 performing sectors
- ✍️ Hyperliquid’s ‘App Store moment’
- 🎙️ The Milk Road Show: Altseason Dreams vs Reality - What the Data Actually Shows w/ Benjamin Cowen
- 🍪 WTF is happening to the crypto market
Bridge helps businesses send, store, accept, and launch stablecoins instantly. Learn how Bridge is powering stablecoin-backed money movement.
Prices as of 2:00 PM ET, provided by CoinGecko.
TOP 5 PERFORMING SECTORS OVER THE LAST 30 DAYS 📈
It’s the middle of the month, which means it’s time to check in with the top 5 performing crypto sectors over the last 30 days.
Fair warning: this one’s a blood bath.
There are only two sectors in the top 5 that are in the green this month.
Here’s the leader board (based on weighted averages):
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/ Privacy Coins
Yep, makes sense, privacy coins are all the rage right now – Zcash alone is up 340% over the last 30 days (we covered $ZEC’s recent rise last Thursday).
Here’re the top 3 performing tokens in the Privacy sector right now:
2/ Exchange Tokens
You might as well rename this as the ‘CZ Tokens sector’, he’s the founder of Binance (creator of $BNB) and owns Trust Wallet.
(Both of which are doing all the heavy lifting here.)
3/ Social
This is the first time the Social sector has made the top 5 since we started running this section.
(And we get the feeling it’s more of a ‘weekend market crash driven anomaly’ than it is a sign of sector strength.)
Basic Attention token is what Brave pays its users for using their web browser, Chiliz is a licensed sports fan token platform, and Audius is a tokenized music streaming platform.
All awesome concepts in their own right…but not exactly hot narratives right now.
4/ Bridges
As above, so below. This is the Bridge sector’s top 5 debut.
…and we get the feeling it's less about newfound success than it is a case of being “one of the cleanest dirty shirts in the laundry basket” (™ John Gillen) after the market’s recent decline.
5/ Store of Value
If you’re wondering why Bitcoin, the most famous store of value in crypto, is not on this list – it’s because Artemis (the website we’re pulling this data from) tracks Bitcoin as if it is its own sector.
Bad news: even Bitcoin Gold’s ~100% 30 day gain couldn’t push the sector out of the red this month.
Good news: you’re a Milk Road reader, so there’s probably very little chance you hold any of the dino-coins on this sector list.
Our takeaway here:
The recent market crash seems to be muddying the waters of sector performance this month.
But we believe this will change in the coming months, and we’ll soon see new all-time highs across many major tokens.
(And with that, new highs across legit sectors.)
In fact, we’re so sure of it that we’re willing to make a bet:
If $ETH doesn’t hit a new all-time high by Dec 31st, we’ll give a full refund to anyone that signs up for Milk Road Crypto PRO or All Access between now and Saturday, Oct 18.
(Oh, and we’re also throwing in a flat 20% discount up front.)
If $ETH hits an ATH, the rest of the market will likely follow, floating your portfolio.
If it doesn’t…you get your money back.
(It’s a win/win.)
STRIPE JUST BET BIG ON STABLECOINS
Stablecoins are arguably the biggest use case in crypto right now.
But let’s be real, using them on-chain is still way too complex.
That’s exactly the problem Bridge is solving.
Recently acquired by Stripe (yep, that Stripe).
Bridge helps businesses send, store, accept, and launch their own stablecoins instantly.
Here are the three facts about Bridge:
- Users can seamlessly transition between fiat and stablecoins
- Businesses can launch a custom stablecoin in as little as one day
- All Bridge-built stablecoins are interoperable with one another
Stablecoins are going global, Bridge is powering that shift.
👉 Learn how Bridge is powering stablecoin-backed money movement.
HYPERLIQUID’S APP STORE MOMENT 📱
Can you imagine where the iPhone might have ended up, without the App Store?
No third party platforms? Just a bunch of Apple-made tools?
We’d probably be way less distracted – but Apple wouldn’t be the juggernaut it is today.
And this latest HIP-3 upgrade feels like an ‘App Store moment’ for Hyperliquid.
It allows anyone to come in and launch a perp market for any token of their choosing, on Hyperliquid – the world’s largest perp DEX.
Translation: if there’s a token you want investors to be able to trade with leverage, you can launch it yourself on Hyperliquid.
Meaning, just like Apple’s App Store – third parties can now add value to the Hyperliquid platform, and get a fee split for doing so (50/50 in this case). 👇
But it comes with a catch: to launch a perp market on Hyperliquid, you need to stake 500,000 $HYPE tokens (~$18.5M worth at today’s prices).
Weirdly enough – this is actually one of the coolest features in our opinion. Here’s why:
- It filters out junk perp markets
- Those that cannot afford $18.5M to launch their own market will likely apply for a grant from the Hyperliquid foundation. More grants = more of the foundation’s $HYPE tokens being locked in staking contracts
- These new perp markets will generate fresh revenue for Hyperliquid (and they use a portion of revenues to buy n’ burn $HYPE)
And it’s those last two points that are important here.
They both contribute to:
- Further use of the Hyperliquid platform / $HYPE token
- Greater supply restriction for $HYPE
And when there’s increased demand for a restricted asset?
PRO ALL ACCESS PORTFOLIO UPDATES 📊
Wondering how we’re allocating our spare cash in the current market?
Check out our portfolio!
The Milk Road PRO All Access Portfolio is an active feed of our holdings, percentage allocations, and average entry prices — with real-time buy/sell/swap alerts that go out via our Discord.
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” report to learn more about our portfolio strategy.
The Milk Road PRO All Access Portfolio is exclusive to PRO All Access members.
GO ALL ACCESS AND UNLOCK:
- The Milk Road PRO All Access Portfolio — See what we’re investing in, how we’re allocating capital, and what actions we’re taking each week (buy, sell, hold, watchlist) ✅
- Weekly “Where Are We In The Cycle?” Indicators — Signals that help you spot the market top before it’s too late 📈
- Weekly Reports Across Crypto, Macro & Degen — Deep dives, token breakdowns, market analysis, and investing frameworks that give you the edge 🧠
- Access to the Milk Road Community — Full Discord access including signals, AMA invites, portfolio update calls, and exclusive All Access channels 💬
- FREE Crypto Investing Masterclass — Included with all annual All Access subscriptions (30% off for monthly) 🎓
PRO REVIEW OF THE WEEK
BITE-SIZED COOKIES FOR THE ROAD 🍪
We’ve added a new research tool to this page. And honestly, it’s on us for not including it sooner. We use this one every single day.
Oof! $429M gone. Yesterday, the Ethereum ETFs saw their largest single-day outflow since early September (bet our wager is looking mighty fine right about now).
WTF is happening to the crypto market? We broke down how systematic strategies triggered a sudden sell-off.
Government ID, onchain. Bhutan just became the first nation to launch a national digital identity system on Ethereum.
Our Head of Research, Kyle Reidhead, is speaking live at Zebu London. Grab your tickets now at 20% off.**
**this is partner content.
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