🥛 2017 bull run vs. 2021 bull run 👀

PLUS: BTC miners make more $$ than these companies... 🤑                                                                                                                                                                                                                                                                                                                                                                                                                 January 25, 2024 | [Read Online]( Today’s edition is brought to you by [Birdeye]( – a powerful tool that aggregates real-time crypto trading data from 200+ DEXes on Solana, Ethereum, and other EVM chains, empowering traders to make better trading decisions. [Check out Birdeye now!]( GM. This is Milk Road, where we deliver crypto insights faster than your old dial-up internet – no annoying screeching sound included. Here’s what we got for you today: - This rally vs. previous rallies 🧐 - How much money do Bitcoin miners make? 🤑 - Say hello to “token extensions” 🍪 [Prices as of 8:00 AM ET. Click here for our Fear & Greed Index]( THIS RALLY VS. PREVIOUS RALLIES 🧐 It’s always interesting to see how crypto rallies compare to each other… Which tokens were popular, which tokens are still popular, etc. Well, check it out. Pantera Capital dropped a blog post called “[The Year Ahead.”]( (It’s a little long, but it’s a banger). In it, they talk about how this crypto rally looks different than previous ones. Just check out the top tokens from each of the last 3 rallies: [Source: Pantera Capital]( There are 2 big takeaways: 1/ Previous rallies have seen massive churn in the top tokens. - 14 out of the top 20 tokens in 2017 lost their top spots during the following bull run in 2021. 70% of the top tokens changed! - In 2021, the top tokens were replaced by ones that didn’t exist during the previous bull run in 2017 (i.e. Shiba Inu, [Uniswap](, etc.). 2/ The current rally has been the complete opposite - very little change. - The top 6 tokens from this rally are the same ones from the 2021 peak. Just a different order. - 16 out of the top 20 tokens have stayed the same since 2021. The churn rate for the top tokens dropped from 70% → 20%. Impressive. Why this matters: There’s a saying in crypto… “The top tokens of the next bull run haven’t even launched yet.” Historically speaking, that’s been true. But this rally looks different. The battle-tested veterans will likely lead this next bull run, not the rookies. [STAY AHEAD IN YOUR CRYPTO TRADING GAME]( For traders, the right information + the right timing = profit. You need a reliable tool that provides aggregated and precise crypto trading data that can help traders find more opportunities on time. *Enter Birdeye* Birdeye provides real-time crypto trading data from 200+ DEXes on Solana, Ethereum, and other EVM chains. You get: - A token’s aggregated information. Say bye to fragmented data and hello to precise metrics and time saved! - See trending tokens with value. [Birdeye’s algorithm filters]( out as many of the trivial tokens as possible to save you more time. - Native trading. Swap, bridge, and place limit orders on Birdeye with leading web3 protocols like Jupiter, 1inch, and more. How convenient! Think you mastered the trading game already? *The Finale* [Birdeye Terminal]( (launching tomorrow, EST!) lets you set highly detailed trading alerts, track certain wallets’ & cryptocurrencies’ over-time analysis, and label traders' wallets on Birdeye. Starting at $30, you could get a [PRO account]( on Birdeye for exclusive access to more data so you can bag potential #x1000Gems! *Time is (literally) money* [Create a Birdeye account NOW to access accurate crypto trading data!]( HOW MUCH MONEY DO BITCOIN MINERS MAKE? 🤑 Mining [Bitcoin]( is a lucrative business. How lucrative? Bitcoin miners are averaging $12.3B in annual revenue. (*Alexa, play “[Make It Rain](”*) Here’s how [Bitcoin mining]( revenue stacks up: [Source: @yassineARK]( Pretty crazy. Bitcoin mining was once considered a “side hobby for nerds”…. Now it makes more money than some of the largest companies in the world! BITE-SIZED COOKIES FOR THE ROAD 🍪 [Solana is launching “token extensions.”]( It will allow developers to hard-code special rules and controls into tokens created on Solana. [The U.S. Securities and Exchange Commission (SEC) has increased its enforcement actions by 53% year-over-year](. There were 46 total enforcement actions carried out last year - the highest annual total since 2013. [The SEC has delayed its decision to approve/deny BlackRock’s proposed spot ETH ETF](. The delay pushes any decision on the proposed fund to March 10. [Magic Eden is expanding its reward program](. Magic Eden users can earn “diamonds” (not real ones, sorry) by buying, selling, or making offers on NFTs. [Warning: A bunch of phishing emails are being sent to Trezor users](. The phishing email told users to update “assets” via a fake link. Trezor disabled the email link, but some users may have exposed recovery seeds. 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