🥛 Crypto has a new Layer 3 👀
GM. This is Milk Road, where we keep you ahead in the crypto game. No fancy jargon. Just straight talk and solid advice.
Here’s what we got for ya today:
-
Say hello to crypto’s new Layer 3 🔍
-
3 things to keep your eyes on this month 👀
-
How a student turned a “stupid idea” —> a million-dollar NFT project 🍪
Prices as of 12:00 PM ET. Click here for our Fear & Greed Index
SAY HELLO TO CRYPTO’S NEW LAYER 3 🔍
Crypto investors are like 4th graders – every few weeks, they have a new crush.
The newest crush: Degen Chain.
-
It’s a new “ultra low cost” Layer-3 blockchain (L3) that launched last week.
-
It was built using Arbitrum Orbit and launched on Base.
-
The goal? Make transactions cheaper.
-
It was “built for the community” and lets developers experiment with new features like community rewards, payments, tipping, gaming, and more.
-
There are currently no stablecoins so $DEGEN tokens are used to pay for gas fees.
It’s still in its early days, and people are still trying to figure out wtf an L3 is…
(no one knows what it means but it’s provocative, it gets the people going)
…but that hasn’t stopped Degen Chain from putting up big numbers since launching.
Source: @0xShual
Milk Road Take: Crypto gets a new “shiny toy” every few weeks… right now, it’s Degen Chain.
And whenever a new toy comes out, it’s always a good idea to try it out.
It’s like hearing a party next door, and you’re just sitting in your house playing Uno. Put the cards down and go check out the party!
P.S. – Check out this Degen Chain guide if you wanna get started.
3 THINGS TO KEEP YOUR EYES ON THIS MONTH 👀
It’s April! Which means two things…
1/ The weather becomes as unpredictable as the crypto market.
-
At 9 AM, you’ll be in shorts and a T-shirt…
-
By noon, you’ll need an umbrella and a boat to get through the torrential downpour.
2/ BTC and ETH usually see positive monthly returns in April.
-
BTC’s average monthly return: +14.03%.
-
ETH’s average monthly return: +23.97%. (Fun fact: On average, April is ETH’s second-best performing month out of the year)
Source: CoinGlass
And this April is set to be a BIG month. Here’s what’s on deck…
1/ The Bitcoin Halving
This is a recurring event that happens roughly every 4 years and cuts the amount of newly issued BTC in half.
It also usually leads to a big crypto rally. Just check out what happened during the last 3 halvings:
Source: Milk Road
The next one is supposed to happen later this month, on 4/20. (how poetic)
2/ Airdrops
Several crypto projects are set to airdrop billions of dollars in tokens throughout the month, including…
-
Wormhole
-
Kamino Finance
-
Parcl
So what? Big airdrops usually lead to —> a boost in liquidity, which usually leads to —> crypto rallies.
You can check out the rest of this month’s airdrops here.
3/ Token Unlocks
Over $1.3B in crypto tokens is set to be unlocked later this month…
-
dYdX ($DYDX) will unlock 33.3M tokens, worth ~$110M, on April 1.
-
Aptos ($APT) will unlock 24.8M tokens, worth ~$400M, on April 12.
-
Arbitrum ($ARB) will unlock 92.6M tokens, worth ~$150M, on April 16.
P.S. – if you’re curious how unlocks affect prices, we got you covered here.
P.P.S. – if you wanna know what else is happening in April, check out the crypto calendar below!
Source: @layyerggofficial
THE ULTIMATE BULL MARKET GUIDE 🥛
The Milk Man’s a fan of the snooze button, hitting it 15 times every morning without fail. This weekend, though, he didn’t just snooze his alarm, but also the 33% discount on Milk Road PRO–which is now available until Wednesday.
Get familiar with Milk Road PRO by reading this weekend’s first-ever report: Can Bitcoin Outperform Altcoins This Cycle?
PLUS: If you’re ready to dive headfirst into the archive, then explore the Ultimate Bull Market Guide, a series of past reports highlighting portfolio fundamentals, crypto business models, macroeconomic overviews, tokenomic deep dives, and much more…
P.S. – The 33% discount on Milk Road PRO wraps up on Wednesday. Don’t hit snooze on this like the Milk Man with his morning alarm, or you’ll miss out.
BITE-SIZED COOKIES FOR THE ROAD 🍪
Storytime: How an Indonesian student turned his “stupidest idea” into an NFT and made millions. Meet Sultan Gustaf Al Ghozali – the kid who took a selfie every day, for 6 years straight, and then turned it into an NFT collection. —DL News
Grayscale is launching a proof-of-stake investment fund for millionaires. The new fund ($GDIF) is for accredited investors, with a net worth of at least $2.2M, and will manage the staking/unstaking of multiple tokens and pass on rewards to its investors.
Crypto investments just hit an 18-month high. Blockchain and crypto companies raised $1.4B last month, the highest monthly level since September 2022.
FTX’s bankruptcy estate plans to begin repaying creditors by the end of this year. Creditors have until May 15 to choose one of the two bankruptcy processes and submit a claim.
This hedge fund manager predicts BTC will hit $150,000 later this year. Mark Yusko (CEO of Morgan Creek Capital Management) believes BTC will go “parabolic” in the months after the Halving.
A dormant Bitcoin wallet is back in action after ~12 years. The wallet bought 500 BTC back in July 2012, when 1 BTC = $7.57. Today… it’s worth about $35M.
MILKY MEMES 🤣
Source: MinisterOfNFTs
Source: @0xgaut
Source: @alancarroII
RATE TODAY’S EDITION
ROADER REVIEW OF THE DAY
VITALIK PIC OF THE DAY
— Milk Road Images (@MilkRoadImages)
Apr 1, 2024
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.
