Today’s edition is brought to you by Gryphon Digital Mining – a fast-growing Bitcoin miner led by a team of industry veterans.
Read a free report on Gryphon’s unique strategy today.
GM. This is Milk Road, where you get your crypto alpha faster than Biden flipped his stance on crypto.
Here’s the alpha for today:
- ETH ecosystem tokens are mooning 🌝
- Use case of the week: yield-bearing stablecoins ⚙️
- Blockchain social media: Farcaster raises $150M 🍪
P.S. Thanks for replying to the Milk Man’s questions! Your awesome responses inspired us to create a new section: “Roadie Reply of the Day” – check it out at the bottom of each edition!
Prices as of 9:30AM ET. Click here for our Fear & Greed Index
ETH ECOSYSTEM TOKENS ARE MOONING 🌝
The total crypto market cap surged by around 7% on Monday, with Ethereum leading the charge.
When $ETH rises, it lifts all boats in the Ethereum sea! ⛵
Here’s why:
- Ethereum users have more money and can investin higher-risk assets.
- Ethereum protocols with $ETH in their treasury see a value boost.
- Ethereum protocols earning in $ETH see higher revenue in $USD, even without more users or increased activity that usually follows a price hike.
Just look at some of the biggest winners this week within the Ethereum ecosystem:
Investors are flocking into what’s referred to as “ETH beta plays” in an attempt to squeeze even more juice out of this $ETH ETF pump. But should you do the same?
🥛 Milk Road Take: Top Ethereum ecosystem tokens will likely outperform $ETH this cycle.
But, they also carry a lot more risk and if you’re caught holding them when the big bad bear market shows it’s face again, you’ll be in for a world of pain.
So the strategy is simple:
Play in the sandbox by scooping up some of these “beta plays” but only use a small portion of the total portfolio to do so.
For a more in depth look at how to design a portfolio check out this PRO Report
And remember, even if the ETF gets the green light, it doesn’t mean they’re launching right away.
We're talking days at the very least, likely weeks, and maybe even months before they hit the market. ⏳
Do you want to know more about the latest $ETH ETF news and its implications? Listen to Milk Road Radio’s latest episode below! 👇
YouTube | Apple Podcasts | Spotify
BOOM OR BUST: IT’S CRUNCH TIME FOR BITCOIN MINERS
2024 has been a transformative year for Bitcoin miners.
In January, the SEC approved the first-ever Bitcoin ETF…
A month later, Biden moved to force crypto miners to report their energy consumption and emissions data…
And then the Bitcoin Halving happened - cutting mining rewards and leading some to predict that Bitcoin prices would soar to $150,000.
For Bitcoin miners like Gryphon Digital Mining, this really is crunch time.
Unlike many of their competitors, Gryphon has been preparing for this for years.
Lower rewards?
Gryphon has one of the lowest breakeven costs in the industry.
Emissions crackdown?
Gryphon was certified as 100% renewable in 2024 and plans to be carbon-negative.
Industry uncertainty?
Gryphon is led by an A-List team of blockchain and mining experts.
The Bitcoin industry looks set to boom, but only some miners will survive.
USE CASE OF THE WEEK: YIELD-BEARING STABLECOINS 👀
There’s one question that will make every crypto investor tremble…
What are some real-world use cases?
Suddenly, it feels like the final level of “Who Wants To Be A Millionaire”. You start sweating in places you’ve never sweat before.
Well – have no fear, the Milk Man is here.
With the recent run ups in price, we figured it’d be a good time to give you some milk in case you get asked the million-bitcoin question.
So, here’s one cool use case we came across: Yield-Bearing Stablecoins.
This is how they work:
- They automatically pay you interest based on their earnings, unlike staking, where you earn rewards for helping run the network.
- The interest comes from various sources, like DeFi lenders, protocol earnings or real-world assets.
Right now, there’s one clear leader in this space, Ethena’s (sUSDe).
Imagine a strategy that earns a solid ~20% yield and stays fairly steady no matter where crypto prices go. Someone gives you $100, and you can always return that $100, plus the extra profit you may have made.
That's the beauty of Ethena: keeping your initial investment safe while generating additional yield.
🥛Milk Road Take: A lot of folks aren’t currently holding sUDSe (staked USDe) as they prefer to hold the unstaked version (USDe), since they earn more points toward’s Ethena’s Season 2 Airdrop.
But hold up! Ethena’s now channeling more yield to sUSDe holders, and guess what? That juicy yield is expected to hang around 20-30% for a while. At least until September when the points program bids adieu.
The Milk Man thinks this yield isn’t just a flash in the pan, either.
Some people may be comparing sUSDe to Terra Luna because it’s also an algorithmic stable but it’s not the same, there’s real yield here, backed by actual revenue.
P.S. if you want to dive deeper into the Ethena ecosystem, we have you covered here!
Are you putting your stables to work?
A/ Yes
B/ No
Hit reply to let us know!
BITE-SIZED COOKIES FOR THE ROAD 🍪
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Farcaster Raises $150M for Blockchain Social Media Platform. The startup has seen significant growth since going permissionless in October, with 350,000 paid sign-ups and a 50x increase in network activity. Farcaster's "Frames" feature allows apps to function directly within posts.
Major Crypto and Tech Firms Unite to Form 'Tech Against Scams' Coalition. Coinbase, Meta, Ripple, Kraken, Gemini, and Match Group lead the coalition. It aims to combat rising online financial fraud by disrupting scammers and educating consumers against evolving scams like crypto 'pig butchering'.
EU Launches 'Europeum' Blockchain Project to Boost Digital Sovereignty. Aiming to reduce dependency on foreign tech giants like Amazon Web Services. Ten EU countries are in so far, with Europeum promising benefits like product traceability and IP protection. – DL News
Hong Kong Bans Worldcoin Over Privacy Violations in Biometric Data Collection. The privacy watchdog PCPD found Worldcoin's collection of facial and iris data to be "unnecessary and excessive". It deemed Worldcoin's plan to retain this personal data for up to 10 years for AI training as excessively long.
Wanna team up with the Milk Man? We currently have 4 positions open – check ‘em out and apply here!
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ROADIE REVIEW OF THE DAY 🥛
ROADIE REPLY OF THE DAY 🥛
In Monday’s daily we asked you to reply on whether or not the ETH ETF would be approved this month… well 55% of you voted NO!
And here is the reply of the day:
VITALIK PIC OF THE DAY
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.
