Today's edition is brought to you by EVAA – the ultimate liquidity layer on TON, interconnecting DeFi protocols and offering exclusive lending services.
GM. This is Milk Road, where we unravel the crypto maze with more flair than a magician at a kids' party.
Here’s what we got for you today:
- ✍️ Solana Actions: Crypto power in every link
- ✍️ Fear and greed hit 18-month low
- ✍️ Chart of the day: Weekly crypto fund flows
- 🎙️ The Milk Road Show: The 80/20 rule of crypto to build wealth
- 🍪 USDT on TON surpasses the $500M milestone.
Prices as of 9:30AM ET. Click here for our Fear & Greed Index
SOLANA ACTIONS: CRYPTO POWER IN EVERY LINK 🔥
We’re going to onboard 1 Billion users to crypto!
You’ve probably heard this a lot over the years but yet, we still have a small fraction of the world using blockchain… But why?
Well, because most mainstream applications can’t read blockchain transactions, which makes interacting with dApps a difficult process…
Until now!
Say hello to Blinks (blockchain links), the latest magic trick from the Solana ecosystem.
Now, anything you can do on Solana, can now be done on any website or app out there.
Blinks have already been implemented on X, where users can buy NFTs, trade tokens or vote on governance proposals, all without leaving the app.
And it’s not just limited to social media, there are many way’s that Solana will allow crypto to become part of our daily lives:
- Native App & Mobile Buttons: Tap a button in your shopping app to instantly pay with crypto.
- Scannable QR Codes: Scan a QR code at a museum to buy your admission ticket with crypto.
- Sharable Blinks: Click a link from your buddy to chip in for pizza night.
Blinks transform every corner of the internet into a crypto playground.
- Need to vote for your favorite contestant on a reality show? Easy.
- Want to pay for your coffee with a link sent by your waitress? Done.
An internet connection and a few clicks make daily life easier.
Welcome to the future!
🥛 Milk Road Take: Blinks are a game-changer, integrating blockchain transactions seamlessly into everyday web2 apps and websites.
This innovation marks the beginning of a future where blockchain is intertwined with our digital interactions without any extra steps, similar to how Coinbase's wallet allows money transfers through text messages.
Imagine minting music NFTs on Spotify or owning fragmented NFTs in Airbnb, allowing you to own a piece of your favorite vacation rental.
Or picture using crypto to unlock exclusive bonus content on Netflix.
The bridge between web2 and web3 has never been so connected…
EVAA PROTOCOL: THE FUTURE OF TON DEFI
Are you a whale or a savvy trader? Then listen up! EVAA Protocol is the secret sauce making TON DeFi sizzle.
Here’s why everyone’s buzzing: EVAA is the ultimate liquidity layer on TON, interconnecting all DeFi protocols seamlessly. It's also the only lending protocol on TON, making it a one-stop-shop for all your DeFi needs.
Plus, with the Telegram mini app, accessing EVAA has never been easier.
You can jump on that TON train with their referral program, top-notch educational goodies from the TON DeFi academy, and even rack up some evaaXP.
TON is HOT right now, and EVAA can be your ticket to the show!
FEAR AND GREED HIT 18-MONTH LOW 📉
51-30-46…. No, those are not the winning mega millions lotto numbers but actually the wild ride of fear and greed the last 3 days!
In case you missed it, yesterday’s Fear and Greed Index for crypto dropped to 30—its lowest since September 2023 when $BTC was $26,000…
What’s causing the panic? We covered the leading theories here, but no one really knows.
However… this sudden 21 point slide to the fear side even had the Milk Man trying to remember what EXACTLY moves this index.
SO, how does this mystical Fear and Greed Index work?
It’s like the crypto market’s mood ring, pulling data from 6 sources:
- Volatility (25%): This measures how wild Bitcoin’s price swings are compared to the last 30 and 90 days. More volatility = more fear in the market. Less volatility = more greed!
- Market Momentum/Volume (25%): Tracks trading volume and momentum. If the volume is high in a rising market, it indicates greed. Volume low, bring in the fear.
- Social Media (15%): Analyzes Twitter activity. More tweets and engagement about Bitcoin suggest a greedy market.
- Surveys (15%): Weekly polls gauge investor sentiment. Higher fear in surveys can drop the index.
- Dominance (10%): Looks at Bitcoin’s market cap share. Rising dominance shows investors seeking safety in Bitcoin, indicating fear. Then, in a market where altcoins are taking up more of the total market cap, greed is present.
- Trends (10%): Uses Google Trends to analyze popular Bitcoin-related searches. More negative searches suggest a fearful market, excess positive vibes indicate greed.
For the record, the index has seen extreme highs and lows—a score of 6 for maximum fear in June 2022 and 95 for peak greed in December 2020.
🥛Milk Road Take: The rule of thumb in general for investors: buy when everyone is scared and sell when everyone is greedy.
The contrarians always seem to win (S/O Warren Buffet).
So, is now the perfect time to buy? Only time will tell, but remember, fortune favors the bold (S/O Matt Damon) 🤣
CHART OF THE DAY: WEEKLY CRYPTO FUND FLOWS 📊
The weekly fund flows are here! Last week, digital asset investment products saw a second consecutive week of outflows totaling US$584m.
It looks like correction time has commenced. 😡
- Bitcoin ($BTC): Took a major hit with $630 million in outflows, but no significant additions to short positions despite the negative sentiment.
- Ethereum ($ETH): Also faced the heat with $58 million in outflows. Not much love for ETH this week.
- Multi-Asset Products: Funds made up of multiple assets aside from $BTC and $ETH saw $98 million in inflows, suggesting investors are seeing the weakness in the altcoin market as a buying opportunity.
- Altcoins: Solana ($2.7m), Litecoin ($1.3m), and Polygon ($1m) managed to attract some inflows amidst the chaos.
Despite the substantial outflows, the inflows into multi-asset products and specific altcoins show that investors are still looking for opportunities in the market.
As always, stay sharp and keep your eyes on the prize!
BITE-SIZED COOKIES FOR THE ROAD 🍪
German Government sends another $15M of Bitcoin to exchanges. Bitcoin FUD is only increasing as the German Government sends an additional batch of $BTC to Bitstamp and Kraken. Yikes!
USDT on TON Blockchain surpasses the $500M milestone. TON continues to impress with USDT holdings crossing the $500 million mark in only two months! In total, the blockchain now holds over $670M total value locked.
Ripple CEO says Biden will lose election because of SEC's Gensler. Ripple’s boss predicts political drama with SEC’s Gensler crypto crackdown swinging voter sentiment. Is this crypto beef the new reality TV season finale?
VanEck to waive fees for its upcoming Spot Ethereum ETF. VanEck has announced that it will waive fees for its spot Ethereum ETF during its initial phase to attract investors and gain traction in the market. Let the fee war begin!
Robert Kiyosaki shares his bitcoin strategy amid the dip. Kiyosaki is treating the Bitcoin dip like a Black Friday sale bonanza. He believes in buying small, consistent amounts during market downturns.
PancakeSwap launches AI-Powered prediction market on Arbitrum. PancakeSwap partners with Allora to allow users to predict ETH price movements on Arbitrum.
MILKY MEMES 🤣
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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.
