Weekly rollup: Bitcoin halving, Runes, World Chain and a new OKX L2

Transcript

the having is sneaking up on us currently scheduled for Friday at 1000 p.m. Eastern and with the having comes the launch of bitcoin's new fungible token standard the runes protocol now everyone who likes milk and money should be paying attention to runes but if you're wondering what the f is runes well you're going to have to listen to Today's Show to find out welcome to milroad radio the easiest path to get smarter about crypto I'm J joined by my co-host Kyle rehead and we believe that onchain is the next online this is the opportunity we're here to help you capitalize tell you who's helping bring people on chain that's

worldcoin they've just launched their new layer 2 called World chain a chain for humans we're going to talk all about that in another chain another L2 I guess okx a big player we talked bunch about base and what they've done while okx could be the next base with their new L2 over on the polygon stack got salana they had all those issues we talked about last week 75% of transactions were failing supposedly well we'll talk about a patch that they have launched and now things are getting better in the salana world and then aird drops there's some drama in the airdrop world but there's also some Alpha in the airdrop world that we are releasing and we are here to help you guys with so we're going to cover that as well as a bunch of other things and we've launched a new segment inside this podcast called in case you

missed it where it's just a bunch of quick hits on some of the top news and just fun things happening around the crypto space Kitty up what a show we got today before we jump in just some exciting news from the milroad team we are hiring right now so if you love milk and you love crypto and you want to work in one of the coolest teams in the space and maybe get the alpha before everyone else does you're going to want to join our team check it out we got a newsletter writer role a Podcast manager role a sponsorship coordinator role so make sure you go to milk.com careers we'd love to talk to you if you want to join our team also next week we've got an exciting event coming up Kai tell us what's happening yeah we're

launching our first ever am ask me anything with the milk Road Pro research team so for those of you that want to get you know maybe you have a ton of questions about crypto about markets about what's going on and you want them answered and we haven't answered them for you already in this podcast well we'll answer them live inside the Discord on April 24th at 12: p.m EST this is a PR members only event with the mil Pro research team and so if you are not pro you should probably go pro of course but if you are pro then we want your questions so there's a form inside the pro Discord Channel make sure to join that and fill out the form of the announcements Channel where you can ask all the questions you want you got to ask these questions before the actual

event so not on April 24th but beforehand put in the form we'll go through them all and we're going to just fire them off and give you guys all the answers you need on April 24th 12m EST we'll see you guys there all right let's start off the show as we always do with the market watch Kai what's going on with bitcoin's price this week yeah not great things this week it is down about 10% of the week but up 3.87% of the day currently sitting at 63,0 777 so Kai when we look at this week chart we see a big drop on April 13 what happened over the weekend yeah most of it um it really came on Saturday and it

was from the news of the escalations of you know Warfare going on in the Middle East with Iran and Israel and the markets got spooked not just crypto but well I guess crypto was actually the only markets that were open over the weekend so technically only crypto got spooked over the weekend it turned out that the escalation was not as I mean it was brutal but not as bad as what was predicted on Saturday so interestingly markets dumped and then on Monday we were kind of waiting to see what was going to happen with the stock market and the stock market ended up being green so all of a sudden we went back up and started doing quite well on Monday and then over this last week we've just sort of been falling falling down and down uh we had about two billion dollars in liquidations across the crypto space

which was like one of the biggest I think we've ever had so it was a pretty wild wild weekend and doesn't seem to be getting too much better so far this week you know what is coming up tomorrow Kai tomorrow is Bitcoin having day Everybody celebrate the current timeline for that the having is predicted to be tomorrow Friday April 19th that's actually today when you guys are listening to this so today at currently the projection is 900 PM Eastern Standard Time so it'll be sometime Friday evening everybody H I don't know what you do to celebrate the having what do what do you do I think he eat a pizza pizza and Bitcoin go Pizza though half a pizza half Pizza yeah and

then half half of pizza did you seen coinbase's ad uh you get to get more pizza not half Pizza you actually get more pizza uh with every H every having so maybe double it up that coinbase at is amazing and I am so stoked that they're playing that in the n NBA playoffs the NHL playoffs we got big Sports season coming up in the state and they're dumping Millions as are a couple other large I think grayscale's got a big ad coming out too okay other news Hong Kong has approved their ETFs this week Kai there's been some speculation or what what should we expect to come from this is this going to be a large inflow what do you think is going to happen here yeah so there's three issuers that have been approved on

these ETFs it is good news of course that Hong Kong is doing this I don't expect big inflows from this there are sort of like no-name issuers they're not like the big thing about what happened in the US was it was Black Rock Fidelity like the big guns that's not who applied for these and got approved in Hong Kong and so the the inflows are expected to be actually quite low and they're not as liquid not as efficient so I don't think it's going to be as big of a deal I don't think we're going to bring in hundreds of millions inflows like we've seen in the US um it's also the Hong Kong uh Market there is some access to Chinese locals um but it's it's not the easiest situation so it's a very complicated system over there um so anyway it's great news and we're seeing

this happen more and more around the world I think South Korea is looking to do this the UK as well so like big news overall and of course it's not all about the inflows like we seeing in the US as well it's just legitimacy and so I think in the Hong Kong Financial Market to see that these are approved it just adds a little bit more legitimacy to to Bitcoin in the market there though we have someone in our in our Discord who was telling us he's like didn't really pick up much in mainstream media you know in the US there was a lot about the ETF this was kind of went under the radar there was some edges in the finance media world but not much in terms of like mainstream so it's great but it's Not Gon to be a massive deal so niichel

and Diamond compared to the mighty US market let's go over to eth Kai what's going on with the eth this week eth took it a little bit worse this weekend than Bitcoin did so down 133% on the week it started to jump back just in the last 24 hours or so up 3.28% currently sitting at 377 we did dip below 3,000 over the weekend that was a little bit hairy but um if you happen to be able to buy at that point then good on you I was gonna say great buying opportunity was what I was saying to Sam this weekend she was like why are you working right now I was like yo bab crypto's low you got buy like she's like what are you doing with like all these like different ledgers and trying to figure out which is which oh my gosh

yeah it's Pro treas bought the tip we'll give that personally I did too but of course milro did too I was surprised you didn't bug me to send you your pay uh earlier this year this this month Kai okay let's go to uh there's a few things coming out of the ethereum ecosystem that caught our attention and got our excite got us excited Kai what's going on yeah base continues to be a beast I mean we wrote the pro report last week and talked all about it and just said how not only is its metrics doing really well in terms of transactions and users Etc that has not stopped by the way since we talked about it last week but so has the the developers ability on top of Base it is now two to three times more than on ethereum itself and I think

this is the norm I think most people are now obviously building on layer twos rather than ethereum just because it's so cheap but we're seeing this grow on like a hockey stick curve right now and so one I think a ton of applications are coming to base and and all l2s to be completely fair but a lot of activities coming there and so is just super bullish for the ethereum ecosystem overall so just something to keep keep drying and then on ethereum specifically I mean that's where Black Rock launched their fund Biddle and that continues to see growth it's almost at $300 million in assets under management currently sitting at $294 had a nice jump over the last week or so so it's not just the l2s the tradire world is going to want ethereum and they are building big funds and things on top of etherum as well so

exciting to see we're kind of coming out from all angles BAS building for the crypto consumers right in retail and then you've got Black Rock building on the ethereum L1 for for trat five so there's a lot happening over there and I think it's going to continue to be a big deal love to see it let's go over to salana what's going on in the salana price this week yeah speaking of dip buying opportunities Salon is now 19% on the week I think since it's its local high which was something like March 18th I think it went down 45% or so it went below 130 bucks which was just was great this weekend so Saturday we have a pro report coming out on salana and I actually wrote in that report this week well I wrote it last week and I wrote I think we were at 140

or 150 and I was like man this is a great buying opportunity people are fding these salana transactions but it would be such a treat if it actually went lower and then boom it went way lower down to like 125 or something so yeah tough day for I mean Sal City 140 right now but if you got to buy that over the weekend that was that was a treat let's go I love it when we get so fired up about these dips and these buying opportunities so sorry if you woke up and were saw that your P had dropped 30% and had a minor heart attack but remember good things are still coming it's still early in the cycle talking about the cycle Kai let's zoom out for a sec how is this cycle compared to past Cycles yeah I mean this is the question I actually asked in all of my

market watch episodes which come out every Wednesday so I highly recommend you guys check those out but coinbase institutional just put out a really good chart comparing the last the last three Cycles to this cycle for Bitcoin anyway and um they last so the bull market part of the cycle lasts about three and a half years we're 1.5 years currently into this one and what's interesting if you look at the past bull markets from the bottom we saw prices increase well the first cycle was 113 X okay ridiculous the last cycle I guess was 19x from from the bottom from the low of the the bare market and so far we're up a 4X so pretty damn good numbers to be honest and this is again why I always say like why do people need to go so far

down the risk curve and risk losing it all when you can get a fourx and we're not even halfway through this bull run uh in the the most stable crypto of them all which is hilarious to call it with Bitcoin but yeah I think this is just good if you see this chart it just gives you really good perspective of hey we're still early there's likely still a lot more room to go now look generally the returns are less and less on each cycle now that could change we have no idea but that's just what it's been so far it's only four data points in total so I don't expect the 19x from the low but I mean if we're only at a 4X and we get a 10 that means there's still plenty of room to run so yeah still bullish moving over to our top stories of the week the

first story has got to be runes what the heck is runes are you guys paying attention to it you need to be if you're not I asked the Milkman to give us a definition on runes to explain this to you in a simple way so here's what he said runes is a new fungible token standard on bitcoin it's similar to how ethereum has fungible tokens like maker or Sheba Inu or Doge except these are on bitcoin runes is supposed to be an upgrade from the existing fungible token Stander on bitcoin which is brc2 and it's designed to be more efficient and have cheaper transaction fees it was created by Casey rmore the same guy who developed orinal which is the protocol that lets you create nfts

on bitcoin and the crazy part is all this hype runes has not even launched yet runes will launch along with the having event which as we said earlier is going to happen Friday evening so what's all the hype about Kai and who who else is really excited about runes I mean I think a lot of people are but specifically Franklin Templeton which is if you guys don't know who that is it is a a massive I mean they're $ 1.5 trillion dollars in assets under management they've been around for I don't know centuries okay maybe not that long but for a long time and they actually released a two-page report on runes which is wow this thing's not even launched yet and you got Franklin Templeton already releasing a report on this so pretty wild they they basically

compared it to some of the past numbers of things like ordinals which reached I think um the the Bitcoin F market cap which reached like two billion uh took I don't know I think that's what it's at now but anyway they're start just talking about like how far can this go and how high can it go comparing it to the market caps of tokens on top of ethereum on top of salana and it's a really cool report there also who's excited about is zenica and zenica had on the podcast just two days ago where we were talking about different crypto narratives and he brought this up as one of the most exciting narratives in this cycle so far so he's pumped about it he said there's a bunch of people that are just like sitting there waiting to buy this to buy some of these tokens when

they launch and so he thinks it's gonna be a really big deal and we talked about some of the top Naros so I high recommend you go check that out he also explains kind of more details of of what it is and how you can sort of capitalize on it I haven't played around of this too much so I don't have a lot of insight myself the Bitcoin World in terms of its nfts and tokens is generally pretty pretty clunky and so I don't know for me when I think about this like this is great I think there's a lot of Bitcoin specific people that are excited about this and the people that have been playing around ordinals Etc but does this get the adoption like how ethereum has adoption for fungible tokens or Salata I don't know I don't see it yet but I mean I never doubt

Bitcoin it continues to just like never die and so let's see where it goes but anyway let's see where it goes I think the question that you're bringing up which is an interesting question is I think it gets the adoption in the short term yes because there's so much there's so much we're in a cycle there's so much opportunity there a lot of money to be made Bitcoin is the largest token that in the world so everybody knows it so I think there's but long term does this turn into a a competing ecosystem we're actually going to have uh a Bitcoin L2 panel I think on the podcast in the next uh few weeks so you guys can watch out for that we'll dive more into it the

number that really stood out to me on this was this chart that it's kind of been floating around crypto Twitter that shows the fungible token opportunity on bitcoin and basically what it shows is that there is currently only6 billion dollar in fungible tokens on bitcoin so that's using the brc2 token standard that's in comparison to on ethereum $500 billion market cap for fungal tokens and on salana $37 billion market cap so like basic Mass has got to say that it's gonna like I don't know would you say I would guess

it could probably pass salon's 37 billion within the next 12 months which would be what would that be that would be a 70x yeah that would be nuts I don't know does it go that like I think there's going to be a mass some hype around this just like there was with ordal it's a bunch of people just buy things like crazy kind like get Fs last last cycle how big it can go I mean like Bitcoin is a what 1 point I know three four trillion dollar asset at this point so that's a lot of capital that can easily flow into this stuff so like it's a no-brain that this thing is going to 10 20 30 40 50x in market cap in the short term in my opinion Kai not everyone is hyped up on runes and there's been some talk about what this does in the Bitcoin

ecosystem when you you already have fungible token standards what is that what is the output of that how does that flow together yeah Kyle Tamar he tweeted out he says biggest problem in Bitcoin ecosystem is fragmentation of Standards so you have brc2 inscriptions runes God knows how many l2s ux is going to rapidly degrade all e system participant Walts indexers market makers devs will suffer this is a weird thing about Bitcoin on ethereum and salana there's just like one token standard I mean there's a bunch of token standards but for different types of tokens right and see have r20s for funable tokens and that's it and so the wallets just need to be able to work with r20s the dexes just need to work with us20 so it's quite easy and simple right it's same on salana I don't know what the names of

theirs are but same thing whereas for Bitcoin which there isn't a lot of good infrastructure as is it's already a clucking experience over on on the Bitcoin world but now all the applications the wallets the tools they have to now work for brc2 and any upgrades that happen with brc2 they have to be aware of those and fix those same with descriptions same with runes and it's like is there going to be more after this like I don't know hopefully not but it's a weird confusing and maybe competition is a good thing and you know maybe this ends up working out but it is a weird fragmented system we'll see what happens there but I think he brings up a good point on that I want to know what you guys listening think so our poor question this week is Will bitcoin's fungible token market cap pass Solana's

fungible token market cap within the next 12 months salon's token market cap right now is 30 7 billion Kai what's your answer 12 months I'm going no okay I think Salon I think Salon is gonna go off over the next bit here so I think saladas will go over 100 billion I Believe by then okay so this is less not that you don't think that runes will grow but more so that you think salana will grow faster no no so rate of growth Bitcoin will be higher way higher but I just don't think it beats salana because Solana's already at 37 billion and probably going to D got a head start got all right all right well let us know what you guys think answer the poll on the podcast or make a comment on YouTube or on Twitter we'd love to hear what you

guys think let's go to the next story which is worldcoin has introduced World chain this is a new eal 2 built on top of the op stack although no one calls it the op stack anymore it's now called the super chain we're going to talk about that more about that in a minute quick stat here Kai did you know that worldcoin was using 44% of the op main net activity on a daily basis and even spiked to up to 80% of the op mainnet activity at the time like I think they were ready for their own chain yeah no I mean it's the biggest application in crypto and yet no one really talks about it still World coin is at the weirdest journey I feel

like in crypto dating back to like I don't know 2021 or whatever they launched it's a weird story but I'll let you continue with the story of world Chan yeah let me just tell you one thing that stood out to me about world chain that was super cool which is one of the things that worldcoin has talked a lot about that team is they're all about proof of humanity and the reason that they care so much about proof of humanity is well there's several reasons but one of them is we have a massive issue of scams and bots on the internet and now that we have added a value layer to the internet there that is even expedited that issue and it's getting even worse and also we're adding Ai and it's going to get even worse and even

worse so this problem is growing exponentially and worldcoin wants to fix that and so one way that they're going to fix that with World chain which is fascinating is they're going to give priority block space to humans who have a verified World ID so if you have a verified World ID what you will be able to do is just like you can use your world ID when you log into to Reddit or you log into a Discord server you can use World ID to prove Humanity well you can do the same thing by basically attaching your world ID to World chain it uses a ZK proof so they don't actually have any information about you

but you're just linking your world ID to the chain and by linking your world ID to the chain now anytime you use that chain on any app that is built on that chain and I'm betting in the future any app that's on the super chain as well eventually when this becomes interoperable well you have basically verified that because you're a verified human you will get faster block space than any of the Bots will and you will pay less gas than any of the Bots will and so it'll prioritize the real people which is exactly what we want you know who could use this salana I mean it's like mainly Bots and so if you could priortize that would be fantastic yeah

it's a super cool idea I think they have five million verified World ID holders currently which is pretty good I think they have 10 million people in total that are on the app that just all verified that they're like they're not humans so it is it is the biggest pretty much the biggest application in crypto currently and I think what's really cool about this idea is no other chain do you know if it is a bot or a human and so there's like we tell you all the time about active users or active wallets is really what you need to call Active Wallets on a chain hundreds of thousands or whatever per day but it's like is that 10,000 people you know or is that 100,000 people or is that like what is that you actually have no idea and so this is kind of a game changer of like

hey it's actually this many people using it we've just we've never had that before and so when I sort of think of the problem right now on X or Twitter that Elon is having is the issue of bots and so he's thinking of charging everyone per like per basically like engagement or thing that you do on Twitter but like to do that in the tradire world on like normal money railes would never work right they can't hook up your credit card and and pay with like three or 33% fees or whatever for that but you'll have to use something on chain but what would be even better is using something on chain that is also has verified people right and so imagine if this gets big enough and worldcoin really gets you know millions or hundreds of millions of

people in important countries that are using these sort of applications I could see something like Twitter just using this right youy guys go verify over here and then that integrates into Twitter that it makes so much more sense than anything that elon's going to do if they're already all verified over here you don't have to go and verify now in the X app so anyway this is going to be true for a ton of apps and I think it's going to be a an area where just like a lot of apps are going to go want to build over on world chain because you know there's actually humans there right so I don't know it's gonna be uh it's gonna be pretty cool it doesn't launch I think until the summer so it's not actually live yet they just announced it yeah it's expected later this summer the

other super cool thing that stood up to us about world chain was their decision to build on top of the op stack and join the other leading Builders Bas mode Network and so many more who are building on the op stack and creating what is being referred to as the super chain amazing branding by the op team by the way like super chain I just love it I want to be part of the super chain too Kai you had a great tweet all about the super chain what are your thoughts about it yeah so I just said the optimism super chain is a beast they have base which is like consumer crypto that's what they're building for they're attracting so basically before I read

all these you could think of all the different layer twos in the super chain as building their own Niche right and right now they're all fragmented and that's fine they will interoperability will come and it'll integrate all this together but you have base which is building like the consumer crypto app because of coinbase you have mode which is building sort of the defi Niche you have Sora building the nft niche you have world coin with verified credentials World chain sorry you have um public goods funding and then you have optimism which kind of like general purpose and I'm sure there's more that I've missed here and there'll probably be many more that we don't even know of yet and I me guess you have dgen chain which is for I know the degens that's that me but eventually like right now your capital is all um fragmented but in

the next year or so there will be an interoperability feature that will basically make all these chains function as one and so if you are have your capital on I don't know World chain and you want to go do something at basee you won't need to like leave and go to a different you know Bridge first and then Bridge it across and then you can go interact you can just do it all one go so you just go to the application that's on base you'll do the interaction you'll just Auto Bridge it auto swap it and you'll be over there and once this happens you have all these niches that sort of merge into one and I think that's just going to be an incredible incredible experience once it happens and super powerful to combine all these different sort of network effects that they're building on each ch into one

it's going to be a really big deal and I think a lot of people are sort of sleepy on that people still think l2s are just super fragmented they're never good you know SL way better Sal is great not seeing any run there I think this interoperability Tech is coming we talk about a little bit in the Mode episode coming out in a couple weeks and I think it's going to be massive when all this kind of conforms into one couldn't agree more it's so exciting let's go from worldcoin launching World chain on the op stack to another large L2 that is just launched also on top of ethereum but this one on the polygon stack rather than the op team so a little bit of a competition across here and this is okx has launched xlayer this is going to

enable their 50 million users to get access on chain and to come on chain now for those who don't know okx is one of the largest crypto exchanges in the world it's actually number two this past month behind binance and this new L2 is really going to allow the users on okx to now deposit and withdraw crypto onto the L2 via the exchange there's an on-ramp that we've seen happen a lot with base and so you can imagine a lot of these people that have just been buying tokens on okx but not really doing much with them not taking action on chain now they have a direct onramp to do that there's already 70 onchain

apps that are built on the xlayer with this launch yeah this could be the next base right like the the reason base is so good it has been so impactful is because it has coinbase to follow all its users if you use the coinbase app and you want to buy a token in coinbase that doesn't exist you still see that token like dgen for example is available in coinbase but you just can't buy it coin basee it just pushes you to go and buy it on base and they have a nice wallet ux and the brand so if you think about the ux here The Branding for coinbase coinbase wallets and coin like base chain is all the same so from a user perspective it just feels like it's just it's one thing right it it's not very clunky because it's just they've

made it so seamless and they can push users to do certain actions right on their chain within their own wallet so it's it's so seamless and so we've seen obviously Bas do so well because of that and I think coinbase has 108 million users that have ever been on there I think 12 million are or something like that okx is generally the third biggest I think you said it's second right now generally third so it's it's a big deal and now they have their layer too and they also have a wallet okx is a really good web through wallet as well so they're going to create this same like fully branded seamless ux to move their us on chain and then bance has already obviously done this with BNB and so every time a big exchange launches a chain brings a lot of activity unchain

so I think we're going to see something really big here with okx and interesting to see them do this over on polygon though I wonder if each so there's the polygon super chain let's call it you know they're calling it The agair that's the which is not nearly as good branding as super chain and then you have arbitrum which um I forget what theirs is calledit orbit yeah okay so it's just interesting you've got the super chain has coinbase you've got AG has okx arbitrum we wonder what they're going to do I guess they're working with Robin Hut so there's sort of one but interestingly r Adams are friend over at bank list he tweeted out he says exchanges with an ethereum L2 and he has like a little checkbox coinbase checkbox

buyit checkbox okx bbits I believe is is mantel and then you have Kraken and binance which don't have an L2 binance obviously has a chain Kraken doesn't have an L2 but they have announced a while ago that they are going to launch one they just don't we don't know where it's going to happen yet I would bet it be happens on arbitro just so that each one of these big super chains has their own but let's see but it's only a matter of time before we collect them all Ryan says first exchanges then fintex then Banks every asset is a token every bank is a chain I love that all right let's go from the eth ecosystem over to salana where as we mentioned earlier in the market watch there's a lot of fud on salana rough week on the price but the salana devs they don't sleep they don't

stop working and they released a patch earlier this week to deal with all these congestion issues Kai did this patch fix fix it did serve the results that everyone was looking for I mean it's getting better it's they're not going to fix it that's for sure but it is getting better I think it was at its worst it was about 75% of transactions were not going through it is down to like I don't know I think it made its way to like 50 alth that's really not the issue that most people are having um those like fail transactions or those charts that are going around on Twitter I think we might have talked last week Jay but those are sort of a different situation that's because of bots which World CH would help with the is that most people are having when they can't get a

transaction through is actually between the messaging layer so there's an issue with the technology they have that when you put a transaction through on a a wallet it has to tell the blockchain to like go and execute it and so that message isn't even making it to the blockchain so this isn't even a problem of salana it's a problem of this messaging layer which interestingly enough they just upgraded to this new messaging layer I think it was a couple months ago to prevent these big halts that the chain has and so they they upgrade to this one called it's called quick and it's actually designed by Google and so they updated it just like really quick and they just like moved over to it and they didn't fully think it all through so there's just been some bugs and so they just basically need to

fix some of these bugs they've known about them it's just been getting worse because I will show you sex salana is just ripping in terms of transactions so anyway they put some patches in it's not going to fix this anytime soon but with things like fire dancer coming out at some point this year which is basically a complete rebuild of Solana's code base those will fix these from like first principles so it's not like patching it together it's actually just redesigning it all so we're like months two probably more than a year away from this like really getting fixed and then they also need to make a lot of other adjustments but this should help I think you went to send me a transaction on salana yesterday Jay it still didn't go through so it's definitely not perfect but it is getting better but for those of you that

are wondering why Salon is having all these problems we've got a chart up on screen here this is um part of the pro report that comes out on Saturday talking about salana and its its issues the reason why salana is having these problems Jay really is because it is a problem that no other blockchain has and it has nothing to do with like its Tech it is that salana is currently trying to process billions of transactions a week billions okay every month right now so last month I guess I think this is from March it almost reached 2 about 2.25 billion transactions in one month one month there is no one no other chain even remotely close to this okay there's so on this chart you see the pink line

that's Salon um currently doing over two billion a month the the closest to this is ethereum plus all of its l2s which is like I don't know there's like 50 60 70 80 l2s whatever it is all of them combined reaches about 400 million transactions okay in the month of March and salana is 2.2 billion so like it's not even close what Salon is currently doing and the fact that it's even able to trans like execute all those is pretty freaking amazing and so if you haven't guessed the pro Port that's coming out on Saturday is a bullish Pro report even though most people are very scared and then had such a massive pullback I think the opportunity on slot is still very very massive and so in

that report I actually talk about my price predictions for this bull cycle I talk about when you should sell and why you should sell and talk about what you can do with your SLA right now to actually make a little bit more bang for your buck so it's a it's a beast of aort make sure you are side to go pro so you can check that out for those that are already Pro you'll see in your inbox on Saturday can't wait to start my Saturday with a glass of milk and milk Ro Pro ain't no better way to do it okay let's go over to some airdrop fud maybe airdrop news look we know at milroad we know you guys love aird drops because who doesn't love free money but there was several airdrops this past week that maybe I shouldn't say this past week

there's been several air drops in the past month that have had large drops post airdrop and this is what we know will happen there's going to be a lot of airdrop Farmers that flock to a new protocol or a new app in order to capitalize on farming that airdrop well what happens after the incentives are done people leave problem being obviously there can be a large drop in price and we've seen that with a few first there was parcel which which since their airdrop I've got up here on defi Lama since their airdrop look at this chart Kai since their air drop they peaked at about 180 million tvl on March 30th and post and now they've just

fallen off a cliff in the last two weeks they're down to 82 million tvl basically a 50% drop in their tvl because there's not as much reason to use the chain then we had W which we've talked about previously w came out at $14 today it's at 60 so more than a 50% drop in that price usage in the protocol W's usage in the protocol has not dropped as much in terms of in comparison to the price because W has pretty strong product Market fit and a lot of people are using it on a regular basis but obviously there's a lot of people who want to take profits after an air drop and so we've seen a big drop in

that price and then tensor which just air dropped uh about 10 days ago came out at $2 on April 9th and now is sitting at 85 so more than a 50% drop there this is something that we're just seeing across across a lot of air drops Kai are you concerned about this I know you know we're talking about farming air drops to our readers is this still something that's worth their time what are your thoughts I mean a lot of people are so here's the funny thing couple weeks ago everyone was like oh my God airdrops are huge they're coming in at such massive valuations and then like one week later now everyone's like oh my God air drops are over all the tokens are tanking it's like guys every token just tanked what do you mean didn't you listen to the

beginning of the show about the market watch all coins got absolutely wrecked all of them not just the airdrop tokens yes generally after you drop a token your token will go down right for the first little bit anyway but if markets are good and things are pumping and there's a lot of demand at that point then your token might continue to go up but it just depends on Market structure right now it just happens that if you drop the token in the last couple weeks well we have been in a bit of a pullback and we just had an aggressive one last week so anyone who dropped their token two weeks ago obviously is getting wrecked people need their money they're getting liquidated there's $2 billion dollar in liquidation so I don't think it's an issue of air drops I think there's going to be a bunch more Big Air

drops coming our way it's Sol Market structure and right now we're in a bit of a pullback it's fine maybe it's even a good time to buy some of these air drops something like Wormhole which actually as you said as product Market fit now of course I mean thankfully I sold by wormhole at about a buck 30 so I did really good on that one so I'm I'm super stoked talk to out of the podcast at least but uh I don't know how you did sell it on salana with all the congestion app I'm impressed that you got it through the thing is though it's like it's not even about the air drop doin it's when there's a pullback this is how it works right it's extremely volatile in crypto all coins Get Wrecked it happens every time and then once we get past this pullback and Bitcoin and E

start to go up again alt coins will go up 300% in a matter of weeks 400% but again there will be a pullback in a few months from now and the same thing will happen I don't know why people always are surprised by this it's just it always happens so anyway this one it is Kai we want to make sure that everybody listening to this and reading milk road is taking advantage of all the airdrops that are coming up April is airdrop season I mean it feels like every month is airdrop season right now you've been working around the clock like I feel like you were working at midnight last night putting something together to make sure that everybody here listening can take advantage Kai what have you put together for everybody yeah we get a lot of people asking about what we're doing with our Capital our research team where

should they be looking into air drops and asking how to do it Etc and so we decided you know what let's just create a guide let's just put something together that we're going to update on an ongoing basis because obviously this is changing all the time and we'll just guide people like here's all the air drops happening right now in ethereum here's all in salana here's all the about Cosmos and here's what you should do to get more points out of it and Link Break to it so you don't get rugged because the other problem is a lot of people are trying to farm and they go to some like raw link on Twitter and people end up getting their their wallet strained and we hate to see that and so we created a an top airdrop guide on our website and basically it's I mean it

explains aird drops in case you just don't really get what this stuff is why they exist what to look for how to find them how do you know if they're going to be big or not Etc so it's like it's got a lot of details but the thing I know that most of you guys are going to love is that we have our top group of air drops that are recommended by milk Road it's categorized in top Air drops the ethereum ecos system a bunch of others in ethereum ecosystem we have the top ones in the slot ecosystem cosos we're building out right now so that one's coming soon so bear with with us on that but all the details you need if you're watching on YouTube you can see it right now there's links to every single one there's a bunch of details there we'll

be updating these on an ongoing basis so you could always come back to this page milb.com airdrops it is available for free this is not a payall piece of content anyone can access this on the internet and we highly recommend that you do if you want to get involved in getting some free money and not just getting your money testing out new protocols and being a part of this onchain revolution this is a great way to do it and get rewarded for it so I highly recommend you guys check this out I just want to highlight I was as I was building this out I was obviously setting up my own portfolio for this and getting a bunch of airdrops and I ended up coming up with a nice strategy where you can take your eth and basically you can hold four different versions of eth so you hold four tokens

basically they're all different forms of e you can Farm 10 massive airdrops all at the same time and get a bunch of extra yield on top of it and it's I don't want to say no risk or low risk obviously all these have some risk but it's like they're all very highly touted like vetted projects with big backers in solid teams so it's like this isn't like going down the crazy risk curve here in terms of air drops it is really really cool and I was like whoa this is huge and so what we're doing is in the milk newsletter tomorrow which hopefully most of you listeners are already subscribed to that not the link is in the shoutouts below coming out is a section just in tomorrow's newsletter is going to show you this airdrop strategy where you can take some of your eth and put it into

these four tokens and do a bunch of things to get 10 different aird drops all from that and we're going to show you exactly with lyns and kind of walk you through how to do it so be really cool I don't want to explain here on the podcast Odyssey will just take too long so just make sure you're subscribe to the newsletter and check it out it's on the free side so don't worry love it Kai bringing the nice delicious creamy whole milk for everybody in the ecosystem okay let's go to our new segment super excited about this in case you missed it this week in case you missed it if you Google crypto and ask Google for the destination of crypto it says quite simply the future of money Google knows what's up in case you missed it Dubai is

flooding this week token 2049 one of the biggest events in the space I'm super jealous I'm not there I feel like everybody we know is there right now and Dubai is flooding apparently it never rains in Dubai or they have some way to make it rain in Dubai but man it is not looking good there is people wakeboarding and surfing around Dubai I've got a video up on the screen here we got another video coming up here of a guy riding a jet ski around Dubai between like down a regular street it's just been pandemonium but then Kai you said right before we record you saw this what did B do at token 2049 just today yesterday I think it's happening like pretty much now but so in Dubai they

have this thing where it's kind of like an advertising placement I think but it's a bunch of drones that light up to put some sort of picture it could be words whatever and they've done one that is like Box's face like the dog inside of like a circle and then it's got like three exclamation marks and so floating above Dubai the skyline is like I don't know it's probably thousands of drones all making the B face which is maybe it's a call against um who's the one over on Dog with hat that is on the the Las Vegas sphere kind of resembles that but over at Dubai so quite interesting uh the meme coins are doing some big marketing stuff speaking about meme coins in case you missed it Elon Musk tweeted about Doge this week here he goes again talking about Doge is it GNA

be the crypto payment platform for Twitter or X we'll see also this week the Bitcoin guy so this is the guy who photob bombed Janet Yellen in a a questioning period in Congress and he in the background holding a a piece of paper that just says buy Bitcoin on it and it's a great photo bomboto legendary photo and he is selling this piece of paper that he wrote byy Bitcoin on it probably took him like literally a minute to write this on this piece of paper and it's not even like he's a fancy artist or anything like that but he's selling it because it's a piece of history and it's expected to sell for more than five Bitcoin so shout out to the guy who photob bombed Janet Yellen

and is going to make upwards of 300,000 of dollars for doing it well done and in case you missed it Han Zimmer one of my favorite musical producers in movies I don't know kai if you know Han Zimmer he has made the music for Inception The Dark Knight Pirates of the Caribbean Gladiator The Lion King James Bond all like major movies he does the music score for them and I don't know how this happened but somehow Han Zimmer linked up with Justin's son and Tron and he made a anthem for Tron I'm gonna get we're gonna play it in a second here

this is like orchestra level music for Tron I don't understand why Justin Sun did this I'm guessing he paid millions of dollars I was gonna say he definitely yeah he's multi-billion billionaire from Krypto so he's a weird dude but that's hilarious let's take a listen [Music] well if that didn't get you fired up I don't know what does that actually kind of feels more like pre-bedtime music to me to be honest and in case you missed it last one the board Apes floor hit the lowest point since 2021 down

90% from the all-time high one wow nfts in the tank right now but we're going to talk about nfts in a second in agree disagree okay with that let's go over to agree disagree where we pick our favorite tweets of the week and tell you if we agree or disagree with them as always if you want us to talk about tweets that you see on the crypto Twitter sphere be sure to tag Us in them throughout the week and we'll bring them into the show first up we have GCR he says if you've been sidel believe this is a good opportunity to scale into high conviction tokens if you're fully invested just survive hold your spa positions and do not capitulate someone

once said liquidations are a forced transfer of wealth from traders who need leverage to wealthy spot buyers I was enjoying retirement from social media but don't want to see my brothers get shaken out when the future is still so bright for those of you who don't know who GCR is I mean the the comment right below this sums it up is just all cap letters and just says he's back question mark question mark or exclamation mark exclamation mark and GCR is like one of the legendary greatest traders in crypto ever this guy took like I forget what the numbers are it's something like I $10,000 wallet to like billions basically like next level this guy but he stopped tweeting about crypto about a year ago a little over a year ago and

out of nowhere he came back he C comes back after the dip on the weekend and says now's your time to buy and so if you're fainting this dip you don't know what you're talking about because GCR he knows everything and so you need to new buy that's for damn sure and so I full on agree and I will agree with everything that GCR says always okay next up Andrew Kang says crypto will continue to expand because it is vastly better than both casinos and other trading markets in terms of volatility variety complexity social component and higher odds of developing an edge it is simply the most engaging multi player money game I agree it is I mean there are more reasons why crypto these are

the only reasons like it is also a 10x in like the way that we move money around the world and the way that like so many different things so like let's not forget that unfortunately like most of what we do right now is just literally a casino and yes it is the greatest Casino in the world it's Global it's frictionless permissionless Etc and so it is the greatest casino but is also the greatest many other things that actually improve people's lives not saying that money doesn't improve your life if you happen to win in the casino I'm sure if you won the lottery that would improve your life but there are many other better benefits to the blockchain well you're not the only one that thinks that because I had to throw in this next tweet just to feed off that previous one this is from Tang Yan he

says there are two components to crypto number one largest C Casino in the world where you can speculate 247 number two building foundational tech for a 100 times better more open internet and financial system not mutually exclusive it helps tremendously to be clear on what framework you're using at each point I'd love that and obviously completely agree we both just kind of said the same thing and I think they're they both are a net positive like gambling is going to be a thing been a thing and it's getting bigger and bigger as the internet continues to grate and so like it just is and crypto happens to make it way better but there are also many other better things like he said and so yeah there's plenty of good use cases for crypto and I think we're fin

starting to see many of them build out sort of gu still maybe undecided on the mecoin use case where Jack nyal says prediction micro meme season is over micro caps aren't worth playing anymore established players have become Lindy and will run a portfolio of the top 10 memes will outperform any combination of Pumped up fun fun coins you can come up with soon interesting I actually asked zenica this on the podcast on Wednesday so you guys again if you Haven listen to that check it out I don't think so I actually disagree there's still it's still so early in the cycle and if we judge by how ios's went and by

how nfts went there's still plenty of room in the cycle for a bunch of to still pop off and so I think there's still gonna be a bunch of small memes that are going to do well I I don't know about Lindy and I mean I guess there is Lind and me points I'm I'm not gonna say no of that obviously Dogecoin has that but I think there's still there's just still a lot of innovation and people are just having so much freaking fun and retail's still not even fully here yet so I think there's still plenty to run in the the small micro meme season as well from memes to nfts the hype of the last cycle nft stats. e or punks 9059 says incentivized bidding on blur has been a disaster and most nfts are going to zero regardless both of these things

can be true at the same time if if you stop being so tribal Kai do you think most C ofs are going to zero yes but I think I keep watching go okay when is the market gonna come back and I think it's gonna come back we also touched on this one again in this zica episode it was a banger and um I think it comes back it comes back differently of course and so I don't think I think most of the stuff that did well last cycle probably won't go back to altime highs just like what was true last cycle with like all the Ico tokens many of them did not go to alltime highs last cycle and just like lot of tokens that launched last iy go won't go alltime highs this time around either it's just how it always works and now it works like normal

business too but there will be some that that come back and and do really well the one I'm interested you just mentioned is B Bak it is down like below 10 on its floor price which is nuts to think about and I just like there's just to me I don't know there's no way that it does come back but we'll see well you know who agrees with you is yat sui who is the chairman of Anoka Brands and over the weekend he spent over $100,000 buying 10 Apes which he says in my opinion are a steal as one of the most important nfts of web 3 plus he also bought some Moe nfts because yeah of course he's going P his own bags and then he says blur has done a lot of

damage to the nft space and in my opinion we all owe a significant debt of gratitude to the legend and lore of Bard ape yach Club has brought the ecosystem it's time for Apes together strong again yeah I don't know this is one that if I thought the nmt market was coming back soon I was like oh maybe I should buy B yach Club but it was like the thing that drove B yach Club was the culture in terms of like it had Eminem and like I I think it's like Steph Curry and all that but like most of them capitulated and sold out the celebrities at B clubs are all gone and then like they kind of been a bit of a laughing stock to be honest theyve had some weird situations at their events and like I don't know they're pretty cringe commed

I don't know maybe the cool effect of where is just gone doesn't come back and maybe there's something new that's cool I think the hard thing to know when it comes to nfts is there's those nfts that are going to be pieces of art proof crypto bunks at cryto and the question is does Bard AP Club have that it seems to be one of the only other ones that could have that and if you bet on that then and that's that's that's you're betting on right now because from a business perspective I don't have the confidence to go bet on bardach Club the only the only nft collection I have the conf to bet on from a business perspective is pudgy penguin because they're building real revenue and a

sustainable business and they are actively trying to flow value back to their nft holders in different licensing ways so they're proving a model that I think can be sustainable but other than them this is why I debate so much at B yub because like Crypt punks I think they're going to smash it and get C be good has a Providence they were like the first like they have that and then they also didn't try to do anything with it just like hey we just are what we are they like a meme coin right we start what we are and if you like ethereum Community ethereum Vibes said like you like Crypt Punk it just that's what it is for oop is not that right they tried to be something of utility that turned into a bunch of cringe nonsense that a lot of people don't love now in a hype

cycle when retail all comes back and people are just like flying high and everyone's buying lamos again that five probably does come back because people just love it like the bo yo was like I'm rich you know and we're going to do this and so like at some point that that world comes back and so that's the only reason why I think these might actually have a chance but what's funny is they creating utility in these board EOS probably did more damage than anything it's hilarious a great Point great Point okay next up we've got Jen who says I think isuki Anthology release is very similar to the first time we saw Huggies hit the Shelf at Walmart if you know you know if you don't you're about to find out basically saying that isuki are the

next pudgy Kai you got to take on this I do I don't even know what isuki Anthology is so please enlighten me isuki Anthology is they're they're taking the IP and they're turning it into content in the form of um TV video that type of content they're making like anime stuff right look I think that this is the problem with nfts is isuki which is a great community no hate on the community incredible Builders building a lot of stuff but what are you building I'm still not convinced that you're building something that has actual product Market fit right now you're taking yourp and you're building it into a like TV show

or movie like does that go I have no idea that feels like a big bet to me so I think isuki continues to do well because of anime and they largest anime collection and Anime is massive in Asia and Asia loves crypto so that's the only reason I think isuki continues to hold their floor where they are but I don't have a lot of convictions I'm certainly not I'm not buying any nfts right now I'll tell you that the only topj got him last one is from fantes fantes he says crypto times AI has two major camps one Camp thinks it's total vaporware but trades the AI tokens other Camp thinks it's total vaporware

and avoids the AI token in my opinion only few people today really believe in a meaningful crypto times AI intersection apart from some incentivized deepin use cases very much a contrarian position at this point I mean there's plenty of real use cases for crypto and AI I think it's G to be a massive Synergy we wrote about it as well in a few reports and so I I don't agree with this although I do agree like 90 something perc of it at least is vaporware uh and so he was right A lot of people see that vaporware and they either buy it and trade it anyway or they don't the other problem is like I think a lot of people don't realize that they just are like oh AI crypto this must be the next big thing and they buy these tokens that just like there's not

even AI in this thing or just like there's no reason for the two to be together you don't need one of the other and so it is a massive hype cycle and I think this one still continues to get worse but from all that there is some small percentage that is going to be absolutely incredible and have some gamechanging stuff woohoo that is a wrap on today's milroad radio thank you so much for listening in everybody I hope you feel like you are on top of the markets and the news that is happening in this space as we said if you want to capitalize on the upcoming airdrops check out the free milroad airdrop guide that we just dropped on our website

milkroom drops and make sure you take advantage and make sure you're subscribe to the milroad newsletter on Friday in the newsletter we're going to give you some Alpha on how you can use your eth and capitalize on 10 air drops in a very simple I don't know lowrisk not Financial advice but maybe a lowrisk way or a mostly lowrisk way we want to make sure that you guys are always getting your milk and getting your money too that's a wrap every every body have yourselves a great weekend if you're in Dubai I hope you got a paddle if you're at home wherever you are touch some grass take a deep breath and let yourself not look at the prices for a sec but maybe maybe keep DCA in cuz it's

a dip and we like to buy the dip see you in Discord see you on Twitter see you around fellas see you around folks have a great weekend thank you for listening to milk Road radio the easiest path to get smarter about crypto if you like this episode share it and hit subscribe follow so you don't miss out on the next one there's also a link in the description to our free 5minute daily newsletter where we simplify crypto for you while making you laugh and if you're willing to step up your crypto investing game then we'll leave a link to milk Road Pro as well your number one resource to help you invest successfully in crypto one final note this podcast is for educational purposes only and nothing we say is financial advice crypto is risky so you should never

invest more than you're willing to lose thank you friends and we'll see you in the next one