PLUS: Kevin Hart ð¤ NFTs ð¤ Netflix January 16, 2024 | [Read Online]( Todayâs edition is brought to you by [PayPal]( - who is charting a new course in the digital landscape with the launch of PYUSD, a stablecoin designed for payments. [Explore the new PayPal USD stablecoin!]( GM. This is Milk Road. We turn cryptoâs 100-mph fastballs into easy, underhand pitches. With us, youâll be hitting nothing but home runs. (Yahtzee!) It was a busy weekend. Letâs get you caught up with 6 things smart people are talking about: - Crypto investment products broke a new record ð - The stablecoin market cap is on the rise ð - 1 market to watch: on-chain predictions ð® - Meet the crypto founder who hacked the CIA ðµï¸ - Kevin Hart stole a $20M NFT ð§ - Bitcoin makes Fidelityâs homepage ð - BONUS: MakerDAO is making it rain money (again) ðª
[Prices as of 8:30 AM ET. Click here for our Fear & Greed Index]( 6 THINGS SMART PEOPLE ARE TALKING ABOUT ð£ï¸ 1/ Digital asset investment products hit $17.5B in trading volume last week. Thatâs the highest weekly volume on record. Period. In total, digital asset investment products saw $1.18B of inflows.
[Source: CoinShares]( Hereâs everything you need to know about the [latest report](: - Digital asset investment products saw $1.18B in total inflows. Thatâs 3x more than any weekly flows from last year. - Trading volumes hit $17.5B (a new record). For reference, the average weekly trading volume last year was ~$2B. - These volumes represented ~90% of daily trading volumes on trusted exchanges last Friday. They typically average between 2%-10%. - It was a tale of two regions. The U.S. saw $1.24B in total inflows, while Europe had minor outflows. - [BTC]( led the way with $1.14B. ETH came in second place with $26M in inflows. - Most altcoins saw minor inflows. XRP, [SOL](, [DOT](, and [ADA]( all saw inflows ranging between $0.2M â $5.6M. - [Blockchain equities]( had another BIG week with $98M in total inflows. This brings the total inflows over the last 7 weeks to... **checks notes**... $608M. Thatâs right. Crypto doesnât just break hearts, it breaks records sometimes too. Weâll see if the momentum continues this week. 2/ The stablecoin market cap is slowly recovering
[Source: BTCTools]( Over the last 3 months, the [stablecoin market cap]( has been steadily increasing⦠- Itâs up $11B since mid-October. - Itâs up $4B in January alone. Why this matters: Stablecoins are the casino chips of crypto. More stablecoins = more money people have to spend in the crypto casino. This is a good sign that investors are getting their chips ready to make more big moves soon. 3/ The on-chain prediction market is on fire Polymarket is a decentralized prediction market built on [Polygon](. It lets you bet on stuff likeâ¦Â - Will the Detroit Pistons end the season as the worst NBA team of all time? (For reference, theyâre 4-36 and couldnât beat your local YMCA team if they tried). - Will Taylor Swift and Travis Kelce break up by March 1? - Will another planeâs cabin door blow off in January? And Polymarket's daily volume has exploded recently.
[Source: Dune Analytics (@rchen8)]( Polymarket has already done $26M+ in monthly volumeâ¦. (the most since 2021) â and weâre only halfway through January. Why this matters: Many investors think 2024 will be a breakout year for the on-chain predictions market. - Bitwise [predicts](that $100M+ will be staked in the prediction market as it emerges as cryptoâs new âkiller app.â - Nick Tomaino from 1confirmation [thinks]( Polymarket will pass $1B in volume and 1M users this year. We could see it happening too. If thereâs one thing weâve learned itâs⦠birds fly, fish swim, and degens degen. And on-chain betting + predictions seem like a match made in degenerate heaven. **static noise** We interrupt your regularly scheduled programming to bring you a quick word from our sponsor⦠[THE NEXT STEP IN MODERNIZING PAYMENTS]( Volatility can make crypto payments unpredictable. While stablecoins help address this concern, not all issuers are the same. Well, in the world of payments, there are few names more well known than [PayPal](. [PayPal]( partnered with Paxos to become a pioneer in blockchain-based payments, launching the PYUSD stablecoin. Hereâs what you need to know: - PYUSD leverages blockchain to bring users faster and more accessible payments than traditional methods. - PayPal educated the public on their Web3 roadmap and the future of crypto payments through an [exciting Open Letter.]( - Available today, you can send crypto to your US PayPal account, convert it to PYUSD, and use PYUSD to checkout at millions of online stores. [Explore the new PayPal USD stablecoin!]( **static noise** And now back to your regularly scheduled programming⦠4/ The Celestia founder hacked the CIA when he was 16 Pop Quiz: Whatâs one thing that gets nerdy guys all hot and bothered? No, not Margot Robbie. Itâs Celestia! A new modular data availability (DA) network that lets anyone easily launch their own blockchain. Itâs cryptoâs hottest project right now. Well, check it out. Turns out the founder, Mustafa Al-Bassam, has a CRAZY background: - He hacked the CIA when he was 16. - He was a core member of LulzSec (a famous hacking group). - He was part of Anonymous (another famous hacking group, except they dress up like itâs Halloween). - Heâs been part of major hacks on Sony, the UKâs National Health Service (NHS), News International, and more. Basically, this guy is the Jason Bourne of crypto. (Btw, [hereâs the video]( of him explaining how he hacked the CIA). 6/ Kevin Hart ð¤ Netflix ð¤ NFTs Kevin Hart is one of the biggest stars on the planet. Heâs Mr. My-Momma-Told-Me-To-Tell-You. (If you know, you know. If you donât know, you need to watch [this clip](). Anyway, Kevin has a new movie called âLiftâ on Netflix. But thereâs a twist: in the movie, Kevin Hart steals a $20M NFT. Hereâs a sneak peek.
[Source: @SolanaJax]( Pretty crazy to see [NFTs]( mentioned in a movie with one of the biggest stars in the world, on one of the most popular streaming services out there. 7/ Trillion-dollar asset managers change their homepages to focus on Bitcoin 11 [Bitcoin ETFs]( were approved last week. Now, Bitcoin is front and center on Fidelityâs home page:
[Source: @fintechfrank]( VanEck, BlackRock, and other asset managers are also promoting Bitcoin on their home pages. Bitcoin went from âI canât get into the partyâ â âI am the party.â BITE-SIZED COOKIES FOR THE ROAD ðª [The WebAuth Wallet has carved out a unique spot for itself, utilizing its native XPR blockchain to support cryptocurrencies across a number of different blockchains.]( Featuring gas-free transfer with their wrapped tokens and a system where wallet addresses are just simple text names, WebAuth has created a very user-friendly experience. Check out our review of their platform [here](. [MakerDAOâs $2.4bn in crypto loans just became the protocolâs biggest moneymaker](. Crypto-backed lending currently accounts for $122M of MakerDAOâs $243M (~50%) in total projected annual revenue. âDL News [Larry Fink (BlackRockâs CEO) says he sees value in having an Ethereum ETF](. âThese are just stepping stones towards tokenization, and I really do believe this is where weâre going to be going.â - Larry âMoneyManâ Fink. [GameStop is winding down its NFT marketplace](. According to a company statement, itâs because of "the continuing regulatory uncertainty of the crypto space." (R.I.P.) [Mercedes-Benz unveiled its new âin-car NFT galleryâ at the Consumer Electronics Show (CES)](. The car also comes with an A.I. virtual assistant that interacts with drivers using one of four âemotional profilesâ - natural, predictive, personal, and empathetic modes. [Google Cloud is now a validator and infrastructure provider for the Flare blockchain](. Flareâs token, $FLR, is up 8% after the news. MILKY MEMES ð¤£
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