May 10, 2024

🥛 How politics impact our crypto bags 📈 📉

Today’s edition is brought to you by Safe{Wallet} – a decentralized custody protocol and collective asset management platform that secures over $100 billion in digital assets with multi-layered security.

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GM. This is Milk Road. Welcome back to the milk shop, where you get your crypto news quicker than that espresso hits.

Here’s what we got for you on this fine Friday:

  • How politics impact our crypto bags 📈 📉 

  • Tokens of the week: 3 winners and 2 losers ⚖️

  • Should you worry about the ETF outflows? 😨

  • Coinbase is hitting dingers 🍪

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HOW POLITICS IMPACT OUR CRYPTO BAGS 📈 📉 

Don’t forget the Milk Man’s two rules:

  1. Never play Monopoly with the in-laws

  2. Never get into political debates​​

BUT crypto is in the middle of the political spotlight right now:

  • The Biden administration said it plans to veto legislation that would allow banks to custody crypto

  • And Trump made several “pro-crypto” comments at a rally……

Here’s what Trump said:

“I’m good with Crypto”

“If you’re for crypto you better vote for Trump”

“I made NFTs hot again”

"That's a lotta money for a coin, I don't like that investment" (regarding $BODEN)

How’d the markets react? We saw a WAVE of pro-crypto Trump everywhere in the news.

The memes were flying off the printer and so were the coin’s prices:

  • $TRUMPWIFHAT up +12000% to $6.8M 

  • $DC (DonaldCat) up +235% to $7.6M 

  • $tremp up +120% to $60M

  • $boden up +15% to $246M

Why does crypto in politics matter rn? Elections. Move. Markets. 👀

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WHAT YOU MISSED THIS WEEK 👀

It's Friday, which means the Weekly Rollup just hit Milk Road Radio — it’s your weekly briefing on what matters for your crypto bags! 💰

  • Should you worry about the ETF outflows? 😨

  • Franklin Templeton’s bull case for Solana explained 🐂

  • OP Stack welcomes L3s & Base’s Onchain Summer 💙

  • PLUS so much more… 👀

 Tune in & get caught up on everything that happened this week. 👇

YouTube | Spotify | Apple Podcasts

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TOKENS OF THE WEEK: 3 WINNERS AND 2 LOSERS ⚖️

You win some, you lose some… *cracks Friday Beer at noon* 

We’ve all been there. The Milk Man knows this well. 

The playing field was capped to the top 100 coins, otherwise it gets a tad absurd… 👀

(Celsius had a 252% week outside the top 100… Maybe everyone thought it was actually the energy drink company)

Let’s get into it:

THE WINNERS

1/ Render Network is up 37%  (10% 24h)

What is it? If you missed it, we covered the Airbnb of GPU’s yesterday… Simply put, it enables people to rent out their processing power to render images and games for those that need it. 

Why it’s up: Render is having a week because of the apple feature, the rising compute narrative, and a needed real world use case

2/ AIOZ Network is up 37%

What is it? Another cool kid in town for the decentralized compute festival. It's a super-fast, secure way to deliver videos, music, and other digital content without getting slowed down by big companies.

Why it’s up: AIOZ got listed on Bithumb, a big exchange in South Korea. 

This is a phenomenon we call… the ‘exchange listing effect’. 

Looks like investors are getting excited with the whole idea of using blockchain for streaming. P.S. we covered AIOZ before here!

3/ Celsius Network is up 252% (honorable mention)

What is it? Think of it as a bank for crypto folks. You can lend your crypto, earn interest, borrow against your holdings, and even stake. Well… you could before the bankruptcy at least.

Why’s it up? Now, here's the kicker. $CEL burned 94% of their tokens! This massive burn happened right after they filed for bankruptcy. It's like they're saying, "It’s time to clean house".

Top comments leave the milk man thinking one thing, degens gonna degen.

And now onto…

THE LOSERS

1/ Core is down 17%

What is it? It's a bitcoin powered blockchain that helps developers launch smart contracts. . . It’s basically a Swiss Army knife for blockchain apps. It's got tools for finance, gaming, and more. 

Why it’s down: Core might be feeling the heat from the market right now with so many other projects vying for attention. Plus, if there haven't been any big updates or partnerships lately, it can be hard to keep the buzz going.

2/ Wormhole is down 13%

What is it? Wormhole is a bridge that lets you move between different blockchains smoothly. 

It's like a superhighway for your crypto, letting it travel from one blockchain to another without getting lost. 

Why it’s down: The launch of Wormhole's new token through an airdrop last month didn't quite hit the mark. People were excited at first, but then the market crashed, and investors got spooked. 

We want to know… who were YOUR biggest winners & losers in your portfolio this week?

A/ Render – "winner winner chicken dinner"

B/ Wormhole  – "my London London bridge wanna go down like"

C/ Other –  [enter your reply!]

Hit “reply” to this email and let us know.

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BITE-SIZED COOKIES FOR THE ROAD 🍪

Gamium is an intriguing new take on the web3 social sector, combining social tokens and weaving an immersive element into its MSTs. Gamium provides an experience that goes beyond the simple trading of social tokens. Check out our review here. *

Optimism opens "Superchain" to Layer 3 apps building on OP Stack. L3s joining the network can tap into the Optimism ecosystem, revenue sharing, funding opportunities and custom scaling solutions beyond what L1s and L2s offer for building specialized apps and services.

L2s hit new ATH with 5.2M unique addresses interacting last week. Double the number on Ethereum mainnet as users flock to Layer 2 rollups and sidechains for lower fees. Bullish user adoption signal, though L2 token prices haven't moved much yet.

Franklin Templeton says Coinbase is "hitting a home run" in SocialFi. The asset manager cited Base's 46% share of social transactions driven by apps like Friend.Tech, as well as booming memecoin and stablecoin activity on the network. 

AI tokens outperformed the broader crypto market with double-digit gains. The AI token market cap jumped over 10% to $27.7B in the last 24 hours, led by rallies in SingularityNET, Fetch.ai, Render and others.

Wanna team up with the Milk Man? We’re currently down to only 4 positions left – check ‘em out and apply here!

*This is sponsored content

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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.