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GM. This is Milk Road, where we make crypto feel like a party you never want to leave. |
Grab a virtual drink, put on your dancing shoes, and let's HODL our way to financial freedom. |
Here's what we got for you today: |
✍️ What's going on with TON? ✍️ Most expensive album ever is onchain for $1 💰 Its Funding Friday 🎙️ The Milk Road Show: TON & Telegram crypto revolution 🍪 German government offloading Bitcoin
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WHAT'S GOING ON WITH TON? 📈 |
You may or may not have noticed, but right now, everyone's talking about TON. |
They're making headlines daily and taking the crypto world by storm. ⚡️ |
TON, short for "The Open Network", is a Layer 1 blockchain designed by none other than Telegram. |
Yep, we're talking about the 4th largest messaging app in the world with over 900 million monthly active users. |
So, what's fueling all the excitement around TON? Why is it skyrocketing right now? |
Let the Milk Man break it down for you with some snazzy charts to show you what's really going on... |
1/ Daily active users |
TON's popularity has jumped from just 10k daily active users (DAU) at the start of the year to over 350k as of today. |
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That's a staggering 35x growth in just six months! |
With Telegram's vast distribution platform, it's no wonder everyone's jumping on the TON train. |
2/ Transaction volume |
This metric is key because it shows how much action a blockchain is actually getting. |
In other words, is it alive and buzzing or a ghost town like Luigi's Mansion? |
The graph below shows a steady rise in transaction volume since early 2023, with some big spikes around mid-2023 and onwards. |
The most striking highlight? The surge in Q2 2024, with transaction volume skyrocketing to $1.6 billion. 🚀 |
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3/ Total value locked |
Its biggest flex? The Total Value Locked (TVL) department, where TON proudly holds the #16 spot among all blockchains. 🔒️ |
TON's growth has been nothing short of meteoric. |
It skyrocketed from $22M on March 1, 2024, to over $600M today—that's an explosive 27x increase in just a few months. |
This hockey-stick chart says it all: TON is becoming a liquidity magnet and shows no signs of slowing down. |
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4/ Holder count |
This chart shows the number of on-chain token holders of TON, and the growth is absolutely bananas. 🙈 |
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Right now, there are 32M holders, up from just 2.9M a year ago. |
That's a mind-blowing 11x increase in just one year—talk about explosive adoption and crazy network effects! |
5/ Price |
The reason you are reading this is because TON's price has jumped from $1.20 in August 2023 to $7.12 by today—that's in just 10 months. |
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P.S. If you're wondering where TON's price is headed, we have a pro report coming out soon. You can upgrade here to be prepared. |
🥛 The Milk Road Take: Some folks might say this surge is driven by low-quality activity (aka games and airdrops). |
BUT here's the deal—they're onboarding users like no other, and once they're in, they're sticking around. |
Turns out leveraging Telegram's massive user base has been a genius move. |
And get this—they're aiming to onboard 30% of Telegram's active users to TON by 2028. |
That's about 500 million monthly active users based on Telegram's estimated growth. Mind-blowing, right? 🤯 |
If you're hungry for more juicy details, The Milk Road Show has you covered. |
We scored an exclusive chat with Alenka Shmalko who is the Ecosystem Lead at TON Foundation. |
She spilled the beans on TON's unique bromance with Telegram and why it's being hailed as the strongest narrative of the bull market! |
Trust me, you won't want to miss her insider scoop! 🎙🎧 |
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KNOW YOUR AUDIENCE: POLL QUESTION 🥛 |
We wanna make sure our content is as creamy and delicious as possible for YOU! |
To do that, we need to understand why you subscribed and what you're looking to get from us. |
Here's the milky results from Wednesday's poll, it looks like a good mix of crypto experience across the board! |
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Vote in today's poll and help us help you! 👇 |
How much is your crypto portfolio worth?You can only select one option that represents you best. After voting you can leave a comment if you want to explain your answer in more detail. |
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Your feedback is the secret ingredient to our recipe for success! 🥛 |
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THE MOST EXPENSIVE ALBUM EVER IS ONCHAIN FOR $1 🎶 |
Recently, as part of Base's Onchain Summer campaign, PleasrDAO announced they were bringing Wu-Tang Clan's 'Once Upon a Time in Shaolin' to the masses.
Here's the kicker: PleasrDAO snagged the album for $4 million and is now selling access for $1 – a wild flip! |
Just like all those NFT traders who bought high and sold low, but this time, it's on purpose. |
Here's a quick recap of the album's legendary journey: |
The album was recorded in secret over 6 years with just one physical copy made in 2014. Talk about exclusive! In 2015, the album was auctioned off to Martin Shkreli, the infamous "pharma bro", for a cool $2M. After Shkreli's 2018 conviction for securities fraud, the album was seized by the US DOJ and PleasrDAO bought it for $4M in July 2021. PleasrDAO held their first private listening event recently, giving fans a rare musical treat.
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The catch? This album comes with a unique restriction. It can't be commercially exploited until the year 2103. |
That's right, we'll all be rocking our hoverboards and flying cars by then.
BUT PleasrDAO has come up with a clever plan to get around this… it involves moving it onchain – it's like buying a backstage pass to a concert centuries away. |
So what's the big release plan look like? |
The album is encrypted and being sold as multiple $1 NFTs. Each purchase moves the decryption date up by 88 seconds. |
Currently, the $1 NFT only grants access to preview snippets. If all ~28 million NFTs are sold, it'll unlock the full album immediately. 🔓️ |
Proceeds are shared with the artists, motivating them to tweak the original no-commercial-exploitation clause. |
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Here we have a beautiful display of token gated content via NFTs displayed with a real world use case. |
NFTs as visual art are cool, but NFTs in music? That's groundbreaking. Access is the key here – imagine NFTs gatekeeping new songs, ticket perks, IRL events, and more. |
Rolling Loud (the biggest hip-hop festival) is already experimenting with NFTs through Loud Punx: Lifetime festival access, VIP perks, the whole shebang. |
🥛Milk Road Take: This new model could revolutionize how artists release and monetize albums.
PLUS, this album has been through the wringer, making it a prime example of NFT innovation. |
NFTs have gotten a bad rap. And in most cases it is deservedly so. But the underlying tech is cutting edge. This experiment is a glimpse into the future of their evergreen use case. |
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FUNDING FRIDAY 💰️ |
Welcome back to Funding Friday! This week, $55.35M was raised by crypto companies. |
Here's the scoop on who secured the bag: |
1/ Particle Network Raises $15M |
What they do: Particle Network focuses on building robust API, data service, and infrastructure solutions for Layer 1 and Multichain ecosystems. Who led the round: Spartan Capital
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2/ Renzo Raises $17M |
What they do: Renzo is a DeFi platform specializing in staking, designed to optimize yield for its users. Who led the round: Galaxy
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3/ Sonic Raises $12M |
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Honorable Mentions: |
Zeek Network raises $3M for its seed round to expand its bounty and social network capabilities. ZKX raises $3.10M to develop DeFi derivatives within the StarkNet Ecosystem. Bitwise raises $2.50M for its seed round focusing on asset management and finance/banking innovations.
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That's a wrap for this week's Funding Friday, folks! |
Remember to keep an eye on these projects as they continue to innovate and potentially reshape the crypto landscape. |
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BITE-SIZED COOKIES FOR THE ROAD 🍪 |
First Solana ETF in Canada filed. 3iQ, the digital asset juggernaut, filed for North America's first Solana ETF. If approved, it'll trade on the TSX under "QSOL". Canada: where crypto gets its maple syrup faster than the US! |
Winklevoss twins drop $1M each on Trump's campaign. Tyler and Cameron Winklevoss, the Gemini co-founders, backed Trump with a cool $1 million each. Their contribution was almost as high as Bitcoin's last bull run. |
German government to start Bitcoin sell-off. The government has started selling off a large Bitcoin stash, worth over $195M, which was seized from the operators of a movie piracy website, Movie2k.to. The market's now jitterier than a cookie on the edge of the counter. |
New AI portfolio management tool on PancakeSwap. The new AI tool, CupcakeHop, promises to sweeten your DeFi experience with automated strategies and real-time risk management. It's like having a financial wizard in your pocket. |
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MILKY MEMES 🤣 |
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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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