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Today's edition is brought to you by CoinTracker – a crypto tax solution that simplifies filing with thousands of seamless integrations and auto-import to TurboTax. |
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GM. This is Milk Road. We make understanding crypto as easy as explaining why you need another coffee – it's essential, no further questions. |
Here's what we got for you today: |
The CPI results are in… 👀 How to 10x your net worth this crypto cycle 💰 Say hello to crypto's new gaming device 🎮 Graph of the Day: Long-term Bitcoin holders are selling 📉 EigenLayer is live 🍪
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THE CPI RESULTS ARE IN… 👀 |
Ladies & gents, the latest U.S. CPI (Consumer Price Index) numbers are in…and they ain't pretty. |
CPI measures the average change in prices for everyday things like housing, clothes, food, services, etc. |
Last month, it rose 0.4% - higher than expected. |
Year-over-year inflation now stands at 3.5% - also higher than expected. |
This is now the 36th consecutive month with inflation above 3% and the second straight monthly increase. **gulp** |
(Side note: If this was my school report card, I'd pull the "dog ate it" trick and just never show it to my parents) |
The CPI doesn't tell the full story though, just look at how much prices are up on these daily items over the past year: |
Car Insurance: +22% Domestic services (i.e. housework): +10.9% Beef: +7.6% Hospital Services Inflation: +7.5% Homeowner Inflation: +5.9% Milk Road Daily Newsletter: Still free
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The recent data highlights that inflation is still a problem and interest rates probably aren't coming any time soon. |
Analysts now predict rate cuts won't happen until September. |
How'd the markets react? Many of the top 100 cryptocurrencies are dropping like bricks into the ocean (in this case, the Red Sea). |
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Buckle up, Roaders. Things could get rocky in the near term. |
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| | Last call! The US tax deadline – April 15th – is right around the corner. And CoinTracker's here to make handling your crypto taxes as painless as possible. | CoinTracker conveniently integrates with TurboTax, H&R Block, or your CPA, and offers complete coverage for Coinbase. | You can seamlessly connect your wallets, NFTs, and 23,000+ DeFi smart contracts, allowing you to generate accurate reports and file in just checks pocket watch minutes. | (And then, once you're set up, you'll have access to year-round performance tracking on both desktop and mobile). | CoinTracker has been one of the most trusted brands in crypto since launching in 2017. Since then, they've served over 2 million satisfied users. | But that's not all. | CoinTracker is the official partner of Coinbase, Uniswap, OpenSea, TurboTax, and H&R Block. And just last month, they shipped CoinTracker 2.0 – a massive product release driven entirely by user feedback. | So for all your procrastinators, rest assured there's still time left on the clock. | Join millions of users already saving time and money with CoinTracker! | |
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HOW TO 10X YOUR NET WORTH THIS CRYPTO CYCLE 💰 |
Dad, look, Milk Road Radio just dropped an episode featuring Lark Davis, a legendary crypto investor and educator with a massive following. |
They're talking about how to strategically structure your crypto portfolio to milk the most of this bull market. We should watch it! 👀 |
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YouTube | Spotify | Apple Podcasts |
P.S. - After launching Milk Road Radio last Thursday, we offered a 25% discount to Milk Road PRO for early listeners. Today's your last chance to grab your discount! | WHAT'S INSIDE MILK ROAD PRO? | First up, weekly reports that help you spot early trends, navigate the markets, and invest successfully in crypto! 💰 | Secondly, "Where Are We In The Cycle?" indicators to help you spot the bull market top before it's too late. (Exclusive to PROs inside Tuesday newsletters). 👀 | Thirdly, full access to the PRO Community, where the Milk Road crew & 100s of fellow PROs dive into robust discussions on market trends, fundamentals, and industry insights. | Ready to step up as an investor with Milk Road PRO? | |
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SAY HELLO TO CRYPTO'S NEW GAMING DEVICE 🎮 |
Check it out. Crypto's getting a new gaming device… |
It's called SuiPlayOX1. |
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Here's everything you need to know: |
The device was created by Playtron and Mysten Labs (the team behind the Sui blockchain). It's a handheld gaming device with "native web3 capabilities". The device will integrate the Sui blockchain into the device's account system. (aka the login will be connected with a Sui wallet on the backend) Crypto games will be the main focus, but gamers will also be able to play regular PC titles and even games from other blockchains.
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It's unclear when the SuiPlayOX1 will be released (the team said "sometime in 2025") but this is a cool project we'll be keeping our eyes on. |
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GRAPH OF THE DAY: LONG-TERM BTC HOLDERS ARE SELLING 📉 |
BTC saw big monthly returns in February (+43.55%), but things have slowed down since. |
In fact, BTC currently has a negative monthly return in April and is on pace to have its first red month since August 2023. |
One of the big reasons is… long-term HODLers are taking profits. |
Check it out. |
 | Source: Glassnode |
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Milk Road Take: There's no reason to panic. This is a normal "changing of the guard" that happens every few years when OG investors exit and newer investors enter. |
Just keep calm and HODL on. |
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BITE-SIZED COOKIES FOR THE ROAD 🍪 |
Honeyland just announced a Play to Earn Airdrop. The popular mobile game with over 21,000 daily players is airdropping "multi-millions" of $HXD to players in June.* |
Think you can help the Milk Man write these daily newsletters? Then you're in luck. We're looking for a crypto newsletter writer who is deeply entrenched in the crypto world and has a knack for breaking down complex topics into enjoyable reads. If you fit the description, then check out the job description here and apply! |
EigenLayer went live on the Ethereum mainnet yesterday. The restaking protocol is the second-largest DeFi protocol and has raked in $13B in total value locked (TVL) over the last few months. |
Monad Labs raised $225M. The new Layer-1 secured funding from investors like Electric Capital, Paradigm, and Greenoaks. (Fun fact: it's also the largest raise of the year) |
A new survey shows that younger Americans are almost as likely to own crypto as real estate. Gen Z'ers are also more likely to own crypto (20%) than stocks (18%). |
Polkadot signed a $2.1M sponsorship deal with IndyCar racing star, Conor Daly. The year-long collaboration includes a Polkadot-branded racing car and Conor Daly will also become a brand ambassador. |
*This is sponsored content |
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MILKY MEMES 🤣 |
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ROADER REVIEW OF THE DAY |
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VITALIK PIC OF THE DAY |
 | Milk Road @MilkRoadDaily |  |
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|  | | | Apr 10, 2024 | | |  | | | 0 Likes 0 Retweets 0 Replies |
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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. |
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