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Today's edition is brought to you by Exponential.fi – the safe and easy way to earn double-digit yield on your crypto through DeFi. |
ENDS TOMORROW: Earn an extra 3% on your BTC! |
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GM. This is Milk Road, where Fridays feel like finding an old Bitcoin wallet with a forgotten stash—except this time, you're actually allowed to cash out! |
Here's what we got for you today: |
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BASE VS SOLANA 🥊 |
Grab a coffee / tea / copy of Natalie Imbruglia's 1997 smash hit single 'Torn'... |
(Whatever keeps you sane). |
Cause we've got a showdown between Base and Solana – two of the fastest-growing ecosystems in crypto right now! 🤼♂️ |
We're gonna break everything down by: |
Transactions Active addresses TVL (Total Value Locked) Stablecoin supply Profit
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(Plus, we'll make sure to explain the importance of each along the way!) |
Alright, let's get into it 👇 |
1/ Transactions |
What's that in Solana's rear view mirror? Is it a speck of dust, or Base? |
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Here's why transaction count matters: |
More transactions = more fee revenue generated, more L1 tokens burned in the process (shrinking the supply), and can help to reflect growing demand for the underlying token (which helps to drive price). 🤯 |
2/ Daily active addresses |
Both projects are accelerating YTD (which is great to see), but Solana secures the victory once again 💪 |
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Here's the importance of growing active addresses: |
Growth in active addresses signals a growing network, far better than transactions do. |
Look at it through the lens of the telephone network… ☎️ |
If there were millions of phone calls being made each day, but only two people with telephones making those calls, it wouldn't be a very robust/valuable network. |
What – are you going to join the network and chat with two randos all day? No, you want to be able to call (transact) with anyone/everyone. |
3/ TVL |
Oooft! Solana is locking in more value than a bank vault rn. But don't fade Base – it's making respectable progress, considering Solana's three year lead. |
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Here's why TVL matters: |
The Total Value Locked in a crypto protocol acts as a measuring stick for user trust and engagement, while reflecting the overall economic 'weight' of a chain. 🔒 |
Think of it like this – how much yet-to-be-spent money do you think is locked up on your local coffee shop's gift cards? Thousands? Tens of thousands? |
Now consider this: Starbucks currently has $1.6B locked up in its gift cards. |
Why? Because they have a larger network of stores, and a much bigger customer base. |
TVL helps to measure the same metrics on blockchains. |
4/ Stablecoin supply |
The race is heating up! Base had the lead for a second, but Solana quickly snatched it back. |
We wonder if the launch of PayPal's Solana-based stablecoin had anything to do with it? |
(Hint: it definitely did). |
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Here's why stablecoin supply is important: |
On blockchains, stablecoins are used to borrow, lend, make payments, and most importantly: buy more crypto. 💵 |
The greater the supply of stablecoins, the more of the above activity tends to take place – increasing transactions and fee revenue. |
5/ Profit |
Solana, we present to you: your first L! Base wins this one hands down 💪 |
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We're going to go out on a limb here and assume you already understand the concept of profit and why it's a good thing. |
Instead, let's dig in to the profit differential between these two chains and take a look at the road ahead: |
While Solana is generating more revenue, the fees Base needs to pay as an L2 are significantly lower than Solana as an L1, making it the clear winner in terms of profit. |
L2s business models are innately profitable, so Solana has years of work ahead of them to turn their business model into a profitable one, whereas Base was profitable from day one. |
🥛Milk Road take: Solana wins this race, four laps out of five. 🏆 |
But we remain bullish on both projects! Solana for obvious reasons, and Base for the following: |
Base just celebrated its first birthday – the fact that it's even in the same conversation as Solana is wild! |
In fact, if you look at full-time developers, Base is already way ahead of Solana (second only to Ethereum), which is a strong indicator of future onchain activity. |
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With Coinbase's user base and massive network on its side, we believe Base will continue to see exponential growth for years to come. |
Need an analogy to bring it all home? |
Solana has been posting wins in the crypto space for a solid 4 years now (it's been a sight to see), while Base just finished its rookie year. |
…but in that short time, it's already begun to show signs of becoming a future hall of famer! |
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THE WALL OF WORRY: HOW TO RIDE THE MARKET ROLLERCOASTER 🎢 |
It's rough out there, folks… |
At the start of August, Ethereum and Bitcoin prices plummeted faster than a lead balloon! |
The Nasdaq? It went into the ICU, and is still recovering. |
It felt like we reached end-of-days, financial-apocalypse levels of ugly for a second there. |
(And we're still not out of the woods). |
But the next time you feel the urge to panic-sell, there's something you should know about – something every seasoned investor is familiar with: The Wall of Worry. 🙌 |
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This chart shows the growth in world equity markets over the past 50 years… |
It's a bumpy ride, with crises like the dot-com bubble in 2000, the global financial meltdown in 2008, and more recently – the 2024 yen carry trade selloff. 🎌 |
Yet, once you zoom out, you start to see a reassuring trend that tells you panic is pointless. |
Need some figures to really drive that point home? |
Say no more: |
If you had invested just $10k in the S&P 500 at the start of 1970, you'd have $2.6M by today – despite all those terrifying dips. |
The market, much like Seth Rogen in just about any of his films, grows higher over time. |
🥛Milk Road take: Seasoned investors see these market dips as golden buying opportunities. 🤩 |
Sure, market crashes, economic downturns, and political upheavals can make you feel like you're free-falling, but those are often the best times to buy. |
Here's the secret formula: Price down + fundamentals unchanged = buy the dip. |
Keep your cool, hold onto your hats, and ride the market rollercoaster with confidence. |
So next time you're feeling the fear? |
Remember the Wall of Worry. |
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OUR PODCAST GIVEAWAY ENDS IN A FEW HOURS! ⏰ |
We're doing a podcast giveaway chock-full of milky-goodness! 🥛🍫 |
But it's ending in ~24 hours – so enter now! |
Here's what's up for grabs: |
Profit from the Future: Crypto Investing Masterclass ($499) 💸 Milk Road PRO 1-year subscription ($250) 💪 Milk Road PRO 1-month subscription ($25) 📅 Mystery Box 🤔
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Here's how to enter: |
All you have to do is subscribe to The Milk Road Show, on the platform of your choice (that gives you 1 entry). |
Want to increase your chances with more entries? |
Take a screenshot of our Podcast page → post it to Twitter and/or Instagram → tag us → and you will get an extra entry for each (1 entry per platform). |
Time's running out! Subscribe by the end of August for your chance to win. ⏰ |
Winners will be revealed on September 4th in our daily episode! |
So get in on the action, and don't miss the big reveal! 👀 |
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BITE-SIZED COOKIES FOR THE ROAD 🍪 |
WazirX, after suffering a cyberattack, has allocated $12M to cover legal costs and recover stolen crypto. The exchange is seeking a 30-day moratorium to stabilize its operations amid ongoing lawsuits. |
Binance CEO Richard Teng denied claims that the exchange froze all funds belonging to Palestinians. He clarified that only a few accounts linked to illicit activities were blocked, emphasizing Binance's compliance with anti-money laundering laws. |
BlackRock's IBIT experienced $13.51 million in net outflows, its first since May. This is part of a larger trend, with U.S. spot Bitcoin ETFs seeing $71.73M in net outflows, continuing a three-day streak of negative flows. |
A U.S. judge dismissed the lawsuit against Elon Musk and Tesla. Ruling that Musk's statements about Dogecoin were "aspirational and puffery," not actionable claims. |
Join forces with the Milk Man! We're looking for a Twitter Specialist + Content Creator who can mix crypto knowledge with top-notch tweets. Think you're the one? Apply today and let's get this show on the road! |
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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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