Today’s edition is brought to you by LMNT – an electrolyte drink mix with everything you need & nothing you don't. No sugar. No artificial ingredients. No fillers.
Receive a free LMNT sample pack with any order.
GM. This is Milk Road. Think of us as your crypto news barista – we know your order, and yes, we add the extra shot of clarity.
Here’s what we got for you today:
- Fear & greed hits 90! 📊
- Coinbase enters the Top 50 🏅
- Coming soon: more volatility 👀
- Solana is breaking records 🍪
Prices as of 12:00 PM ET. Click here for our Fear & Greed Index
FEAR & GREED HITS 90! 📊
The fear & greed (F&G) index is one of our favorite things to look at.
It’s a good way to understand how the market is “feeling.”
Here’s how it works:
- Each day, there’s a new number
- It ranges from 1 (extreme fear) —> 100 (extreme greed)
- How is it calculated?
- 25% Volatility (looking at 30 & 90-day average drawdowns)
- 25% Market volume (again, looking at 30 & 90-day averages)
- 15% Social media mentions
- 15% Surveys
- 10% Market dominance (BTC vs. Altcoins)
- 10% Google Trends search volume
- 15% Concentrated Power Of Will™️
Well, the F&G index just did something I failed to do on any high school math test… scored a 90!
Why this matters: This is the first time the F&G index hit 90+ since 2021.
The last time it did? It stayed above 90 for a few months (green dots below) and BTC ended up rallying from $15K → $60K.
We’ll see what happens this time around.
DRINK MORE WATER IS BAD ADVICE
We all know drinking water is important. But your body needs a lot more than water to stay hydrated.
Think — electrolytes. Think LMNT.
When you sweat, you lose essential electrolytes like sodium — causing muscle cramps and fatigue. The easy switch: starting your day with electrolyte-based hydration.
You can enjoy LMNT’s zero-sugar electrolyte drinks whether you’re sweating earnings at market opening, checking Bitcoin prices in the late hours of the evening, or for more traditional things like your morning/evening workout. It fits any scenario.
LMNT’s science-backed ratio delivers the optimal dose of electrolytes, without spiking your sugar levels.
Best yet?
Milk Road readers can get a free sample pack with any purchase!
COINBASE ENTERS THE TOP 50 🏅
LOOK! Up in the sky…
Person 1: “It’s a bird!”
Person 2: “No! It’s a plane!”
Milk Man: “Nahhh, that’s just Coinbase flying through the App Store!”
That’s right. The U.S. crypto exchange has been on a roll lately…
- It started the year ranked #489. AKA “participation ribbon” status.
- Today, it’s ranked #49.
Why this matters: It’s the first time Coinbase has been ranked in the Top 50 since February 2022.
Retail is back, baby!
COMING SOON: MORE VOLATILITY 👀
Check it out. There’s something called the “DVOL Index.”
- The index was created by the crypto exchange Deribit.
- It’s calculated using the exchange’s option order book and tries to predict BTC’s volatility over the next 30 days.
Well, the DVOL has jumped from 40% → 76% over the last month.
Buckle up. It looks like we could be in for some volatility over the next month.
Remember, crypto is like a mechanical bull at a bar. It’s all fun and games till the bull throws the drunk girl off and she pukes.
BITE-SIZED COOKIES FOR THE ROAD 🍪
Hashlock, a cybersecurity firm, provides smart contract audits and other security services to web3 and blockchain projects. Hashlock is rapidly building a solid portfolio of completed audits, and you can read more about their services in our review!*
Solana’s weekly DeFi trading volume hit $11B last week. That’s a new weekly record!
The SEC delayed its decision on BlackRock’s ETH ETF (again). The move was largely expected. Most analysts believe that a decision to either green light or postpone the launch of the ETH ETFs won’t come until May.
MicroStrategy is looking to raise $600M in financing through convertible notes. The company said it would use it “to acquire additional bitcoin and for general corporate purposes.”
Ethereum gas fees are skyrocketing. To put things in perspective, the average fee to complete an NFT transaction on Ethereum hit ~$370 at certain points yesterday.
Some Coinbase users had a “zero balance” glitch on their accounts yesterday. I guess there’s a 2-for-1 special going on because the same thing happened last week…
Deutsche Boerse (the operator of Germany’s largest stock exchange) is launching a crypto trading platform for institutional clients. It will offer a fully regulated ecosystem for trading, settlement, and custody of crypto assets.
*This is sponsored content
MILKY MEMES 🤣
RATE TODAY’S EDITION
What'd you think of today's edition?
Login or Subscribe to participate in polls.
ROADER REVIEW OF THE DAY
VITALIK PIC OF THE DAY
— Milk Road Images (@MilkRoadImages)3:48 PM • Mar 5, 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.
