🥛The biggest airdrop in history? 🪂

PLUS: Happy birthday to Vitalik! 🎂                                                                                                                                                                                                                                                                                                                                                                                                                 January 31, 2024 | [Read Online]( Today’s edition is brought to you by [UpMarket]( – an alternative investment platform that enables individual accredited investors to access private market investment opportunities in pre-IPO companies, hedge funds, private equity, and other alternatives. [Join for free to review UpMarket's current offerings](. GM. This is Milk Road, your daily crypto relay – we pass you the baton of knowledge for an easy run. Here’s what we got today: - Happy Airdrop Day! Here’s what to expect… 🪂 - The power of DCA 🤑 - Graph of the Day: $500M in weekly outflows 📉 - Happy birthday, Vitalik! 🍪 [Prices as of 8:00 AM ET. Click here for our Fear & Greed Index]( HAPPY AIRDROP DAY! HERE’S WHAT TO EXPECT 🪂 There’s a lot going on today. It’s… 1/ National Eat Brussel Sprouts Day. It’ll be my 28th straight year NOT participating. 2/ Vitalik Buterin’s 30th Birthday. He’s the guy at the bottom of every email. Someone accidentally put him there in the first edition, now it’s tradition. It’s also Jupiter Airdrop Day. Jupiter is a decentralized exchange (DEX) and liquidity aggregator on [Solana](. Today, it’s launching its token ($JUP) and [airdropping]( the first batch of tokens to users. - The initial circulating supply will be 1.35B JUP tokens. - 1B tokens will be airdropped to early users (i.e. people that used Jupiter before Nov. 2). - ~1M wallets are eligible for the airdrop. If you’re one of the eligible ones… congrats! Treat yourself to a Chipotle burrito with EXTRA guac today. If you aren’t eligible this time around… don’t sweat it. There will be other opportunities. The key is… projects don't tell you when there’s an airdrop ahead of time. So you have to use tools (like [DefiLlama]() to keep tabs on ones that could do one in the future. Btw, previous airdrops have also led to good trading opportunities. Investors LOVE shiny new tokens with fresh charts. The bad news: new tokens are more volatile than a 2-year-old who missed nap time. The good news: JUP isn’t the first big airdrop in crypto. There’s been Optimism, Aptos, and Blur. Each one had similar price movements… [Source: @theirish_man]( Who knows if the Jupiter airdrop will follow the same playbook, but you know what they say… “History doesn’t repeat itself, but it often rhymes”. [INVEST IN THE COMPANIES BUILDING THE FUTURE, TODAY]( Why should only the most well-connected investors be able to [invest in private companies]( building the future of technology? Last year, [UpMarket]( investors purchased shares in companies like Neuralink, Cohere, OpenAI, SpaceX, and Anthropic. And in 2024, they’re working to curate more investments in companies like Elon Musk’s xAI. UpMarket’s mission is to unlock alternative investments for individuals like you. Since 2019, they’ve helped investors deploy more than $150 million into private investments. UpMarket’s philosophy for private markets is simple: “To focus on the best companies, with the best structures, at the best prices.” Start investing in the future with UpMarket, today. It’s free to join and designed for accredited investors. The minimum investment is $25,000. [Create a free account today and get notified the moment UpMarket launches new investment opportunities like OpenAI or xAI](. All investments have the risk of loss. UpMarket is not associated with or endorsed by the above-listed companies. Only available to eligible accredited investors. View important disclosures at [www.upmarket.co]( . THE POWER OF DCA 🤑 [Dollar-cost averaging (DCA)]( is a popular investment strategy. It’s when you invest the same amount of money at regular intervals. It could be every day, every month, or whenever you swear in the house (like a crypto swear jar). Your total holdings increase, while (hopefully) your average entry price decreases. It doesn’t require much brainpower, skills, or patience. You just buy and forget. Simple, right? Well, I got a crazy stat for you… [Source: @denverbitcoin]( Pretty wild. 1 buy a month. 0 effort. Up +300% on the investment. GRAPH OF THE DAY: $500M IN WEEKLY OUTFLOWS 📉 Every week, CoinShares drops a report on how much money institutional investors put into crypto products. It’s a good way to gauge institutional interest in crypto. Well, the [latest results]( are in… outflows totaled $500M last week. It’s the biggest weekly sell-off over the last year - by far. Ouch. [Source: CoinShares]( Here’s everything else you need to know from the report: - [BTC]( saw the most outflows ($479M). Short-bitcoin products also saw minor inflows. A double whammy. - Blockchain equities saw $17M in total inflows. - Most altcoins saw minor outflows. [ETH](, [LINK](, and [DOT]( saw outflows, while [SOL]( saw minor inflows ($3M). CoinShare’s analysts believe the substantial outflows from [ETF issuers]( (*cough Grayscale cough*) have “likely prompted further outflows” from others. We’ll see if it can bounce back next week. BITE-SIZED COOKIES FOR THE ROAD 🍪 [Semafor Editor Reed Albergotti sits down with Chris Dixon, founder and leader of a16z crypto](. They discuss the promise of crypto and how the dream of a decentralized internet is very much still alive. Get to the interview by subscribing to Semafor Tech [here](.* [Vitalik Buterin dropped a new blog for his 30th birthday](. He highlights some major shifts he’s witnessed in the cryptocurrency community since he first joined 11 years ago. [Ethereum’s Dencun upgrade was successfully deployed on the Sepolia test network](. Next up? The Holesky testnet. It’s the final rehearsal before the upgrade goes live on the main network. [German authorities seized over 50,000 BTC (worth $2.1B) from a piracy operation](. It’s one of the largest crypto seizures of all time. [Ripple’s cofounder was hacked for $112M worth of XRP tokens.]( $XRP is down 5% on the news. [Tether reported $2.9B in new profits last quarter](. Tether also set an all-time high increase in excess reserves backing its tokens in circulation during the quarter, now totaling $5.4 billion. *This is sponsored content MILKY MEMES 🤣 [Source: @alancaroII]( [Source: @MinisterOfNFTs]( RATE TODAY’S EDITION What'd you think of today's edition? [🥛🥛🥛🥛🥛 F**king great]( [🥛🥛🥛 Meh, do better]( [🥛 You didn't bring the heat]( Share Milk Road You currently have 0 referrals, only 1 away from receiving Milk Road's 2024 Bull Run Survival Guide. [Milk Road's 2024 Bull Run Survival Guide]( [Click to Share]( Or copy and paste this link to others: ROADER REVIEW OF THE DAY VITALIK PIC OF THE DAY [tw profile: Milk Road Images] Milk Road Images @MilkRoadImages [tw] Happy bday to the 🐐 #dirtythirty Jan 31, 2024 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. 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