GM. This is Milk Road, your day-one homie in crypto.
Here’s what we got for you today:
- ✍️ Ethereum’s next big upgrade
- ✍️ AI is eating crypto’s gains
- 🎙️ The Milk Road Show: Why the Next 18 Months Could Be Crypto’s Biggest Opportunity Yet w/ Avichal & Jesse Eckel
- 🍪 Texas bought the dip
Fuse is a $300M ARR energy company launching The Energy Network on Solana. Discover the future of energy now.
Prices as of 2:00 PM ET. Trade today with Milk Road Swap.
HOW ETHEREUM’S NEXT UPGRADE WILL IMPACT ITS PRICE 💲
We’re now just one week away from Ethereum’s next major upgrade: Fusaka.
(Yep, even I thought it was a character from the Lion King.)
There is a lot of noise about how Fusaka can push ETH higher.
Here’s the simple version of why. 👇
Currently:
Layer 2 networks (L2s) often pay near-zero fees to Ethereum because data storage ("blobs") is too cheap.
Too much nerd talk? Alright, let us simplify.
Think of Ethereum as an apartment building. Currently, if Ethereum has empty rooms, L2s can crash there rent-free.
But after the upgrade:
Ethereum puts on its deep husky landlord voice and says: “Even if the room is empty, minimum rent is $500. I still have to keep the lights on”.
That’s how I picture Ethereum: A deep husky man.
But if you imagine it as a cute little guy, it’ll probably go something like this:
The point is: Even if network traffic is low, L2s will now owe a minimum fee.
And when the L2s pay this fee to Ethereum, it’s immediately burned (destroyed).
More ETH burned → Lower supply → Price goes up (assuming demand holds steady).
Now, don’t expect ETH to rip on December 3rd. It’s going to be a slow and steady burn that will compound over time.
(Just like how the Dencun Upgrade aka The Merge took a while to take effect.)
Long-term, Fusaka could remove millions of dollars worth of ETH from circulation, pushing its price higher.
The real question is how quickly will the impact start showing up.
A NEW FOUNDATION FOR THE GRID
Is this the most legit energy company to ever enter crypto?
Fuse is a $300M ARR UK utility powering 200,000+ homes - and now it’s launching The Energy Network, a new digital layer engineered to scale our grids and save billions in costs.
It’s real infrastructure, not speculation - connecting homes and devices to make power smarter, cheaper, and more efficient.
One of the highest-revenue DePIN projects in crypto - and it’s still pre-launch.
AI IS EATING CRYPTO’S GAINS 🥣
I don’t want to say it, you don’t want to hear it - but we all know it’s true.
Crypto is struggling right now.
And there’s just one guy to blame for it. This guy called “Artificial Intelligence” (street name: “AI”).
AI is eating the world’s capital, leaving little to no funds to flow into crypto.
Hell, just look at Alphabet / Google’s chart. 👇
Alphabet has been one of the leading AI stocks recently:
- They just launched Gemini 3 and that sh*t is smooooth
- It has more than doubled in the past 5 months
- And… Warren Buffett just bought a $4.3B stake in Google
Since the April lows, Google alone has added over $2 trillion in market cap (sheeesh).
That figure is way higher than crypto’s total market cap (excluding BTC) which currently sits at $1.22T.
Now imagine the same explosive inflows across the other AI titans: NVDA, AMZN, META, and more.
Right now, AI is having its adoption moment. And global capital is chasing it down.
So does that mean crypto is cooked?
Short answer: No.
Long answer:
Crypto will have its moment too. It’s just not happening this second.
What AI is doing is creating a K-shaped economy where growth estimates (black) continue to rise while the labour market (blue) continues to weaken.
As the labour market weakens, it forces the government to keep rates lower.
Low rates → more loans → more money sloshing around → more capital flowing into risk assets… including crypto.
So here’s the key takeaway:
You don’t have to invest in either AI or crypto. The best move is probably to invest in both.
And lucky for you, we’re launching Milk Road AI PRO in just a few weeks to help you capitalize on one of the biggest secular trends of our lifetimes.
And for this week only, you can lock it in at a 40% discount. 🤝
Until next Monday at midnight, PRO All Access is 40% off including:
- Crypto PRO
- Macro PRO
- (Soon) AI PRO
- PRO All Access Portfolio
- Market pulse updates
- Live AMAs across all brands
- VIP Discord access
BITE-SIZED COOKIES FOR THE ROAD 🍪
Wanna earn some yield on your BTC? Check out how you can do exactly that by lending it out to borrowers.*
Texas bought the dip. It now becomes the first U.S. state to buy Bitcoin.
Mark your calendars for December 8th. That’s when we’ll most likely have the next upgrade regarding the crypto market structure bill.
Another Robinhood headline. They’re now launching a new derivatives exchange to push into prediction markets.
Holy sh*t, are we bullish on web3 gaming again? The handheld SuiPlay0X1 is making us seriously rethink our stance.*
*this is sponsored content.
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