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GM. This is Milk Road. We drop off crypto insights right at your doorstep - no need to chase down the truck. |
Hereβs what we got for you today: |
Itβs FOMC Day. Hereβs what to expectβ¦ π§ The Blockchain War is heating up π₯ BlackRock is launching a tokenized asset fund π AI tokens are rallying πͺ |
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ITβS FOMC DAY! HEREβS WHAT TO EXPECT π§ |
Today is investorsβ least favorite day of the monthβ¦FOMC day. |
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Ok, you got me. That isnβt really what it stands forβ¦ |
FOMC = the Federal Open Market Committee. Theyβre the group in charge of making monetary decisions to help take pressure off the economy. |
They come together 8 times a year and figure out 3 main things: |
Maximizing employment. Stabilizing prices (inflation/deflation). Moderating long-term interest rates. |
Today, they make their decision on interest rates - lower them, keep them the same, or raise them. |
According to the CME FedWatch Tool (a website that predicts interest rate decisions), thereβs aβ¦ |
99% chance interest rates stay the same. 1% chance they drop. 0% chance they rise. |
Most experts believe interest rates will stay the same, but all eyes will be on Jerome Powellβs post-game speech. |
His tone, and any indication of future rate cuts, will determine how the markets react. |
(Remember: Investors react to perception, not results). |
Hereβs a quick cheat sheet to scribble on your hand: |
A/ If interest rates stay THE SAME, Powell's speech will likely determine price movement. Hawkish speech = prices probably go down. Bullish speech = prices probably go up. |
B/ If interest rates go UP, prices likely go DOWN. Markets could blow up (not in a good way) if rates get hiked when 99.9% of people didnβt expect it. |
Buckle up Roaders, things could get rocky today. |
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THE BLOCKCHAIN WAR IS HEATING UP π₯ |
Thereβs a new blockchain taking crypto by storm: Base. |
Itβs Coinbaseβs Layer 2. And over the last week, it has gainedβ¦ *checks notes*... 800K+ new users. |
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So, why are so many people flocking to Base? |
Cheap transactions. Gas fees on Layer 2βs (like Base) have plummeted to less than $0.01 since the Ethereum upgrade. Big-name artists/creators are starting to launch new projects on it. For example, XCOPY (a well-known NFT artist) dropped a new NFT collection yesterday. It got over 1M mints in 24 hours. Memecoins. Because transactions are super cheap and fast, Base is witnessing its own βmemecoin maniaβ (similar to Solana). A handful of them are up 100%-400% over the last day. |
Watch out! The Blockchain War is getting spicier than the wings on βHot Ones.β |
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BLACKROCK IS LAUNCHING A TOKENIZED ASSET FUND π |
BlackRock dropped a bomb yesterdayβ¦ the $9T investment behemoth announced itβs launching a new tokenized asset fund. |
Hereβs everything you need to know: |
BlackRock is partnering up with Securitize, an asset tokenization firm, to launch it. Itβs called the USD Institutional Digital Liquidity Fund (0/10 for creativity, btw). It isnβt clear what assets the fund will be βtokenizingβ, but many are speculating it could be real-world assets (RWAs). The fund will be tokenized on the Ethereum blockchain. Blockchain sleuths pointed out that BlackRock sent $100M in USDC to seed the fund yesterday. There will be a $100,000 minimum investment. #BigBallersOnly |
Why this matters: BlackRock is the worldβs largest asset manager and has been leading the way for institutional crypto adoption. |
Now it has its eyes on a new missionβ¦ tokenize everything. Larry Fink (BlackRockβs CEO) has even gone on a media tour to talk all about it. |
Stocks, governments bond, you name it - BlackRock wants to tokenize it. |
Well, it looks like the trillion-dollar asset manager just took its first big step in that direction. |
Funny side note: Crypto degens have been sending a ton of memecoins to BlackRockβs address since it became publicβ¦ |
Including tokens like Shiba Inu, Pepe, Jesus Coin, and HarryPotterObamaSonic10Inu (yes, itβs a real coin). |
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The cherry on top? Some of them were sent from a wallet address named βbig-d*ck-fink.ethβ (named after BlackRockβs CEO). |
Never change, crypto. Never change π |
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AI-related tokens are rallying while the rest of the market bleeds. Only two AI-related tokens out of the top ten ranked by market cap have experienced slight retracements. |
Ledger announced it's launching its new hardware wallet βvery soon.β The new Ledger Stax will roughly be the size of a credit card and will support a wide range of tokens - including BTC, ETH, SOL, and NFTs. |
Polygon Labs, King River Capital, and Immutable are teaming up to launch a new $100M gaming fund. The Inevitable Games Fund (IGF) has already identified a few investment opportunities - including Pixelmon and Guild of Guardians. |
Solana has passed Ethereum in DEX trading volume over the last week. Solana-based decentralized exchanges (DEX) have seen a 67% increase in volume over the last week. |
Grayscale added ETH staking to its ETH ETF application. The move comes after Fidelity made the same update in its application earlier this week. |
BTC ETFs saw their biggest day of outflows earlier this week. On Tuesday, U.S. spot bitcoin ETFs experienced $326.2 million in outflows, the largest since their debut. |
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| When you see BlackRock is using your chain to launch a new fund | | | Mar 20, 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. |