🥛XRP 11 years later... 🎂

PLUS: How Reddit did an NFT rollout the RIGHT way                                                                                                                                                                                                                                                                                                                                                                                                                 June 03, 2023 | [Read Online]( GM. This is Milk Road. We’re like that super honest friend that lets you know when you have broccoli in your teeth - we tell it like it is. It’s Saturday, y’all. Let’s get it: - Bursting the rug pull bubble 🫧 - XRP’s 11th birthday 🎂 - Reddit’s NFT playbook 📋 - The crypto founder found dead 🍪 Prices as of 9:20 AM ET. TOOL OF THE WEEK: BUBBLEMAPS 🫧 Gather around Roaders, the Milk Man’s here to walk you through a tool that makes [blockchain]( data easier to read than Captain Underpants… Here’s 3 cool ways to use a little thing called Bubblemaps: 1/ Spot rug pulls Rug pull - two words that give almost any crypto investor PTSD. And the sad truth is that they are too easy to create, and everywhere. Well, Bubblemaps is the king when it comes to finding red flags. And here’s a quick guide on how you can spot em yourself in only a few minutes: [tw profile: Cyril - DeFi] Cyril - DeFi @cyrilXBT [tw] Replying to@cyrilXBT First, head over to @bubblemaps • Pick a token you want to investigate into • Type it into the search bar • Look for the dev's wallet to find if there inter linking wallets In this example, I'll be using $LOYAL and investigating wallets linked to the project Jun 2, 2023 30 Likes 7 Retweets 1 Replies 2/ Track the relationship between wallets Imagine that the top holder of a token is Joe, but you don’t know the second is Joe’s mom and the third is Joe’s grandma. She doesn’t even know what a digital wallet is! Each [wallet]( is separate, but Joe is in control of all of these tokens. And you never want a holder to have too much of the supply. Bubblemaps shows you how wallets were funded and any links they may have. In one scam, a top wallet only owned 3% of the supply, but they were tied to almost 25% of it: Bubblemaps Take a guess how this ended… 3/ Spot inflated volume and wash trading Wash trading is when fake trades are made to boost different statistics or drive FOMO. And [wash trading]( has become a big problem. People are estimating that ~60% of all NFT trades in 2022 were wash trades. But when you put it into bubbles, wash trading can be pretty simple to break down. [It helped expose]( a notorious [NFT]( project Squiggles by showing how a few wallets were responsible for most of the secondary market sales. So what? Blockchains are meant to be fully transparent and open source. But while all blockchain data is available, bad actors are getting really good at covering their trails. And look, we know we just spat a whole lotta praise for Bubblemaps. But they didn’t pay us to - we just really like what they’re doing. All for that “M” word - mass adoption. XRP LAUNCHED 11 YEARS AGO 🎂 Pssst! It’s a certain someone’s birthday… At the ripe old age of 11 is… XRP. AKA the 6th largest cryptocurrency by market cap created by Ripple’s founders. Meanwhile, I ate too much cake and vomited in the bouncy house on my 11th birthday. To celebrate, let’s go down memory lane - and see where XRP’s headed. 1/ XRP was created before its founders built Ripple The two are technically separate from each other. Ripple just holds most of XRP’s 100B supply (the founders hold the rest.) Ripple’s known for cross-border payments. Banks like BoA & Santander use its RippleNet (real-time platform) for that. It’s built on XRP Ledger, the blockchain that the XRP token is native on. Oh and Ripple was co-founded by the same guy that created Mt. Gox. #UltraFunFact 2/ Critics have called the XRP network not truly decentralized because: - Only an approved ~1,500 people validate transactions. Versus anyone being able to validate on Bitcoin, etc. - XRP tokens haven’t been created since 2012. Ripple’s founders hold the power to release some into circulation every month to keep the supply stable. 3/ XRP’s price peaked at $3.84 after the 2017 crypto bull run Then the 2018 bear market dragged it down, and… 4/ The SEC sued Ripple in 2020. CoinMarketCap It said founders were illegally offering XRP as an unregistered security. Exchanges like Coinbase delisted the coin. So what will its 12th year look like? Well, the SEC/Ripple lawsuit is due to wrap up this month… and Ripple’s expected to win. That prediction has already been driving XRP’s price up in the last few months. You know what that means! We’re hittin Vegas for the next birthday, baby. DIGITAL COLLECTIBLES IN, NFTS OUT 📋 Big brands getting into NFTs is nothing new. We’ve seen it all folks... the good, the bad and the ultimate top signal: Twitter And while there have been a lot of swings and misses, Reddit’s rollout tells a different story. What’s happening? Reddit NFTs just passed 10M holders. That’s 10M wallets being created on the Polygon network. 4x the amount of people that transacted on [OpenSea]( by the end of last year. Reddit’s gotten ~$33M in sales revenue. Not too shabby for less than a year. How’d they do it? First off, they never say NFTs, wallets or any other lingo. If Web3 is gonna be accepted by the masses, we gotta drop all those buzzwords. Reddit’s also made them inexpensive. A far cry from the standard 10K collection that prides itself on exclusivity and high prices. It doesn’t hurt that they’re kinda cute, too. MILK & COOKIES 🍪 [A crypto founder was found dead this week.]( John Forsyth founded ONFO coin and had been missing for a week. [The OpenAI CTO’s Twitter account was hacked to promote a fraudulent crypto token.]( So was Fortnite’s official Twitter account. C’mon Elon… [Nike’s dot swoosh is teaming up with Electronic Arts sports.]( We’re HERE for that Web3 gaming interoperability [Circle’s launching a native USDC on Arbitrum next week.]( It’ll make it a lot faster to trade. MILKY MEMES 🤣 Share Milk Road You currently have 0 referrals, only 1 away from receiving The Next 10x Opportunity in Crypto for 2023. [The Next 10x Opportunity in Crypto for 2023]( [Click to Share]( Or copy and paste this link to others: HIT THE INBOX OF 250K+ CRYPTO INVESTORS Advertise with Milk Road to get your brand in front of the Who's Who of crypto. The Roadies are high-income crypto investors who are always looking for their next interesting product or tool. [Get in touch today](. What'd you think of today's edition? - [🥛🥛🥛🥛🥛 F**king great]( - [🥛🥛🥛 Meh, do better]( - [🥛 You didn't bring the heat]( ROADER REVIEW OF THE DAY VITALIK PIC OF THE DAY [tw profile: Milk Road Images] Milk Road Images @MilkRoadImages [tw] happy weekend, Roaders Jun 3, 2023 0 Likes 0 Retweets 0 Replies 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. [tw]( [ig]( [yt]( [tk]( [in]( Update your email preferences or unsubscribe [here]( © Milk Road 603 Munger Avenue Suite 100 #1006 Dallas, Texas 75202, United States