PLUS: ETH is pumping. Here's why ð December 28, 2023 | [Read Online]( Todayâs edition is brought to you by [Uniswap]( â the largest onchain marketplace for digital assets â and now Android and iOS users have the power of Uniswap in their pocket. [Download the Uniswap mobile app today!]( GM, this is Milk Road, the friend who makes sure you never skip a beat in crypto. Ok. I have a confessionâ¦I did something I said Iâd never do. If my mom knew, sheâd give me the âtsk tsk tskâ and a 2-hour lecture... If my wife knew, Iâd be sleeping on the couch for the next monthâ¦Â ⦠in a whispering voice... I went memecoin trading. Thatâs right. I did it. Itâs all people have been talking about lately and ignoring it was like ignoring the last cookie in the jarâ¦Â So, I tried it and now Iâm back with stories (and scars) to tell.  Most of todayâs edition will be about that, but hereâs what else is on the menu: - 3 reasons ETH is pumping ð - Lessons from trading a Solana memecoin ð§ - MicroStrategy bought another $615M worth of BTC ðª
[Prices as of 8:30 AM ET. Click here for our Fear & Greed Index]( 3 REASONS ETH IS PUMPING ð [ETH]( is in the GREEN, baby! Itâs up 6% over the last 24 hours and hit its highest price of the year. Suddenly, everyoneâs #TeamETH again⦠So, why is ETH pumping? There are a few theories⦠- The Dencun upgrade is coming in early 2024. This upgrade will significantly lower fees for [Layer 2âs]( (L2s) and make ETH more competitive with Layer 1âs like [Solana](. - Many are anticipating an ETH ETF to launch at some point next year. And many expect that attention will shift to this narrative right after the Bitcoin ETF is announced. - Thereâs a lot of excitement around [Eigenlayer]( and restaking. When the sector fully develops, [ETH staking]( rates are expected to skyrocket and raise the demand for the token. Itâs not just ETH going up in price either⦠L2âs like Arbitrum, [Polygon](, and Optimism are up this week. Ahh, nothing like waking up and smelling the roses green prices. [PRIORITIZE SECURITY WHEN SWAPPING CRYPTO]( At this time, a major use case of crypto is to trade crypto. And when it comes to trading crypto, you need a trusted platform to swap and secure your digital assets. Well, [Uniswapâs mobile app]( was designed for efficient swapping. All with asset security at the forefront. Hereâs how [Uniswapâs mobile app]( delivers the perfect swap: - Swaps directly with the largest and most trusted DEX, while benefiting from the best prices, built-in MEV protection, and self-custody of assets. - The app provides best-in-class security by design, backed by an audit from Trail of Bits. - Users have the flexibility of importing their wallet or creating a new one through a quick and seamless experience. - A wide range of built-in features allow users to receive transaction notifications, view data charts and analytics, and view tokens and NFTs with no custom configuration. And itâs all from the comfort of your pocket. [Download the Uniswap mobile app today!]( LESSONS FROM TRADING A SOLANA MEMECOIN ð§ Ok. First things first⦠whyâd I go Solana memecoin trading? Here are 3 reasons, not named âitâs about the moneyâ: 1/ All the hype has been around Solana tokens lately. Itâs like hearing music bumping at the house next door and youâre just sitting in your house knittingâ¦Â At some point, you have to put the yarn down and go check out the party. 2/ I wanted to see what trading was like on Solana. I used it back in 2021 but stopped last year after all the outages and drama. Plus, I got rugged on an NFT project there. I was finally ready to give it a *second chance*. 3/ Ok, fine⦠itâs partially about the money. After writing about the traders who turned [$16K â $12M]( and [$50 â $100K](⦠I got a whiff of the degeneracy and wanted to give it a go. Side note: This degenerate move was also sponsored by⦠my wife's grandma, Nana. This was the first Christmas I was a âhusbandâ. And for the last 5 years, Iâve gotten the âboyfriend Christmas giftâ (fresh socks and white tees) from Nana. This year I got married and entered the big leagues (fresh socks, white tees, AND $250). It also came with a note: âUse this to buy more doggycoins.â You got it, Nana! I took my $250 and entered the Degenâs Den⦠Btw, Iâm not gonna focus on which token I bought. Why? Because, honestly, it doesnât matter. At the end of the day, itâs a sh*tcoin. And Iâm not here to promote it. Iâm here to tell you the lessons. Letâs dive in. 1/ The user experience on Solana was fast, cheap, and smooth. The #1 thing that stood out from the experience wasâ¦cheap [gas fees](. Iâve historically used Ethereum, where gas fees can hit triple digits ($100+) when the network is busy. You canât tell if youâre buying stuff on Ethereum or Ticketmaster⦠Solanaâs fees (on average) are less than $0.01. 2/ Know your role and play your role. Iâm a sh*tty day trader. I donât have the time, skills, or patience for it. There, I said it. And honestly. Iâd rather stare at the sun for 9 hours straight than stare at graphs all day. This is what my experience was like: - Look at the graph⦠price up 30%. - Go to the bathroom⦠price down 40%. - Take a sip of coffee⦠price back up 20%. (At one point, I was convinced every time I drank coffee, the price would go up. I ran upstairs, chugged the rest of the coffee pot, ran back downstairs and⦠the price was down 25% ð¤¬). It was at this moment I realized, this just wasnât for me. And thatâs ok⦠there are plenty of other ways to make money in crypto. Stick to your strengths and your favorite narratives. (DeFi, staking, yield farming, NFTs, etc.). 3/ Be wary of the profit prophets One of the main reasons I bought the Solana-Memecoin-Who-Must-Not-Be-Named is because⦠I noticed A LOT of people I follow on social media talking about it. Discord. Twitter. It was everywhere. And it was from people I trusted. But what I realized was that some of these are coordinated pump-and-dumpsâ¦
[Source: @dtrain22k]( Be careful not to get caught up in the mess and⦠4/ Donât be blind to counterarguments. A big mistake investors make is to look at bullish takes on a coin and brush off the negative ones as "coping/fudding." (Fudding = spreading fear, uncertainty, and doubt). - Twitter user ([@FreddieRaynolds]() explained how Luna could collapse. People mocked and laughed at him, but a few months later⦠Luna collapsed. - [Ishan Bhaidani]( called out the FTX ponzi. People mocked and laughed at him, but a few months later⦠FTX collapsed. The lesson: Look at bull/bear outlooks and form your own decision. Ok, this is getting a little long and my editor looks like heâs about to smack me with the force of 1,000 Will Smiths if I go any longer. Stay thirsty and talk to you tomorrow, -The Milk Man BITE-SIZED COOKIES FOR THE ROAD ðª [We sat down with the Founder & CEO of Metallicus, Marshall Hayner, to discuss his journey and the current crypto landscape.]( Check out the full interview with Marshall [here](!* [MicroStrategy bought another 14,620 BTC, worth $615M](. Microstrategy is now up over $2B on their Bitcoin position. There truly is no second best. [Cathie Wood says Bitcoin will replace gold](. At the same time, Cathieâs ARK Invest fund has actively been selling Coinbase and GBTC shares. [Coinbase, Galaxy, Polygon, Multicoin, and other top crypto VCs share their 2024 funding outlook](. Dive into predictions from some of the biggest names in the industry! [Crypto users lost $2b to hacks, scams, and exploits in 2023](. The dark side of an explosive year for the industry. [Dopex is a decentralized options exchange focusing on calls and puts across Arbitrum and Polygon.]( In addition to a wide range of options vaults, Dopex offers advanced speculation instruments, including concentrated liquidity options and synthetic yield-bearing tokens. Check out our review of their platform [here](! *This is sponsored content POP QUIZ: HOW DO YOU FEEL ABOUT BAKKT®? Weâve got a question for you⦠The Milk Man served up some Bakkt® ads the past few months and wants to know if you like them any better now? [ð¥ð¥ð¥ð¥ð¥ Love 'em!](
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