September 7, 2023

🥛 3 things to do during a bear market 👀

Today’s edition is brought to you by Toku – where Industry leaders like Protocol Labs and Mina turn to administer token grants to their global workforce. Save time and money with Toku!


GM. This is Milk Road, where we analyze crypto trends with the precision of a laser-guided butter knife. (don't ask how we got it)

Here’s what we got for you today:

  • What to do when the market gets rough… 👀

  • The race for ETH ETFs has begun 🏃💨

  • Justin Bieber’s song, “Company”, is turning into NFTs 🎵


WHAT TO DO WHEN THE MARKETS GET ROUGH 👀

Crypto is becoming a ghost town…

  • DEX volumes have fallen to their lowest level since 2020

  • Google searches for “crypto” and “bitcoin” hit a multi-year low

  • NFTs just had their lowest weekly volume in 2 years

The crypto tourists are gone and even some of the locals packed their bags and left.

(Btw – If you’re still here, congrats. You’ve earned your crypto stripes. #SeasonedVet)

But the million-dollar question is… what should you be doing when the markets are this quiet?

You see, some investors are too busy worrying about if another bull run will happen.

The successful ones are preparing for when it comes. They play chess while everyone else plays checkers.

So, one of the best things to do right now is… study the successful investors.

Try to figure out what strategies they have, and see if you can implement a similar one. (work smarter, not harder!)

So today, I’m gonna give you some frameworks from a successful investor.

Meet Jason. He:

  • made millions from crypto

  • 10x’d his net worth in 1.5 years

  • is a fellow Roader (so you know he’s a smart dude)

Here are three of his core frameworks: (btw you can check out the whole video here)

1/ Define your goals

You can’t have a plan if you don’t know where the finish line is.

It’s a simple step, but most people overlook it.

So start at the end and set your goals, first. Do you want…

  • monthly DoorDash money?

  • to double your salary?

  • “rent-out-the-whole-theater-to-myself-cause-I-can” money?

Once you figure that out, you can start making a strategy to get there.

2/ Create your own war room

War rooms are used everywhere.

These are groups of people who are equally obsessed with a specific topic, trade ideas, debate strategies, and help each other when times get tough.

Militaries use them. Sports teams use them. You name it.

You need one too. It’s like copying your friends on a test, except no one gets in trouble.

P.S. – If you’re an expert on a specific part of crypto (i.e. DeFi, NFTs, etc.) it would be a good idea to find experts in other parts.

Dive into new topics and learn from others. Bear markets are the perfect opportunity to smooth out those rough edges.

3/ Hunt for airdrops

If you don’t think money can fall from the sky, think again.

In crypto, this is called an airdrop. Basically, projects sometimes pay early users of their products.

And the money you can make is lucrative. Jason says he made $600K in one year – just from airdrops (!!)

Hunting for them is one of the best “low risk/high reward” strategies you can have. Especially when everything else has gone up in flames.

The key is finding out which projects are gonna do an airdrop next. Defi Llama is a good tool to check out which protocols could be next.

P.S. – we’ve got our eyes on an EigenLayer airdrop (not confirmed yet), so the Milk Man has been busy restaking and using the protocol.

You can check out a guide to EigenLayer here. And you can check out some other airdrops we’ve been eyeing here.

That’s all for today’s frameworks folks. It might sound simple, and it is.

You’re top priorities right now should be:

1/ Survive (aka don’t get hacked or lose all your money)

2/ Find some low-risk/high-reward opportunities (aka airdrops)

3/ Stay in the loop on the important stuff and keep learning. (You’re already subscribed here, so you got that covered ✅)

And if you really want to dive in, follow our public wallet guides and learn how to invest in crypto yourself.

Stay thirsty, my friends.

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Save time, money, and be compliant by working with Toku.

THE RACE FOR ETH ETFS HAS BEGUN 🏃💨

Ladies & gents, it’s official…the first U.S. spot ETH ETFs have been filed.

  • ARK Invest and 21Shares filed for a spot ETH ETF called Ark 21Shares. The fund would hold ETH directly.

  • VanEck also filed for a spot ETH ETF.

  • Coinbase has been named as the surveillance-sharing partner in both filings. The leading U.S. exchange was also given this role in the previous Bitcoin ETF filings.

  • Coinbase was also named as the custodian for ETH that will be held in the Ark 21Shares fund. VanEck did not name a custodian in its filing.

  • If approved, both funds would be listed on the Chicago Board Options Exchange (CBOE).

**shoots starter pistol**

And just like that, the race for the first U.S. spot ETH ETF has started.

What’s next? The SEC has 240 days to make a final decision.

There will be temporary “deadlines” along the way to push the SEC to make one sooner, but the group of regulators has been known to delay their decisions and take the full time.

The SEC is like that one kid in math class who takes up the entire time to finish up a test while everyone else is twiddling their thumbs and counting the specks on the ceiling til the time’s up.

So for now, we wait.

P.S. – We fully anticipate other ETH ETFs will be filed soon too.

By this time next week, it’ll look a lot like my front doorstep when my sister has her friends over.

BITE-SIZED COOKIES 🍪

Phemex is bringing change to the world of crypto exchanges. Becoming the first semi-decentralized exchange after dropping their Soul Pass Soulbound token and Phemex token rewards. We took the time to review their offerings and broke it all down for you Roaders.

Justin Bieber’s song “Company” is being turned into NFTs. 1% of the total portion of streaming royalty rights will be split between 2,000 NFTs, with the holders getting a piece of future streaming royalties.

Google has updated its policies and will start allowing ads for NFT games starting later this month. Games that offer wagering or staking will require additional certifications.

Genesis Global Capital filed a lawsuit against its parent company, Digital Currency Group (DCG). Genesis claims DCG owes it $500M from four different loans in 2022. (It’s official. This family of crypto companies has more drama than the Kardashians)

Coinbase is launching a new crypto lending service for U.S. institutional clients. According to a filing with the SEC, Coinbase has already raised $57M for the project.

Reddit dropped NFTs for all 32 NFL teams to commemorate the start of the season. Football is back, baby!

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.