🥛$BTC whales accumulating like it's 2020 💰

PLUS: Crypto takes the #1 spot on the Epic Games Store 🎮                                                                                                                                                                                                                                                                                                                                                                                                                 October 18, 2024 | [Read Online]( 🥛$BTC whales accumulating like it's 2020 💰 PLUS: Crypto takes the #1 spot on the Epic Games Store 🎮 mailto:?subject=Post%20from%20Milk%20Road&body=%F0%9F%A5%9B%24BTC%20whales%20accumulating%20like%20it%27s%202020%20%F0%9F%92%B0%3A%20PLUS%3A%20Crypto%20takes%20the%20%231%20spot%20on%20the%20Epic%20Games%20Store%20%F0%9F%8E%AE%0A%0Ahttps%3A%2F%2Fthemilkroad.beehiiv.com%2Fp%2Fbtc-whales-accumulating-like-it-s-2020 Today's edition is brought to you by [Request Network]( - crypto invoicing integration so easy, that even Grandma could do it. [Keep track, get paid, and stay in control.]( [breaker] GM. This is Milk Road. We’re here to do two things: Drink milk. Talk crypto. (And we’re all outta milk). Here’s what we got for you today: - ✍️ GameFi is back, baby! - ✍️ $BTC whales are accumulating like it’s Q4 2020 - 🎙️ The Milk Road Show: [The Crypto Narrative with the Biggest Upside in 2024 w/ Zeneca]( - 🍪 Polymarket reaches $2B betting volume for US Presidential Election Winner [Prices as of 2:00PM ET. Click here for our Fear & Greed Index]( [breaker] CRYPTO TAKES THE #1 SPOT ON THE EPIC GAMES STORE 🎮 Get us our bib. Looks like we might have some words to eat. ICYMI: On Tuesday, [we listed]( a bunch of takeaways from our time at [Permissionless III]( in Salt Lake City. The first takeaway on that list? “Gaming isn’t back…but it also isn’t dead.” Yuh. We might have to walk the first part of that statement back – and it’s all thanks to one game: “Off The Grid.” This thing launched in February – the basic overview going something like this: [Source: @JasonYanowitz]( Fast forward to today… [Source: JasonYanowitz]( (Ok, that’s one game – who cares?) Here’s why it matters: Crypto gaming isn’t a winner-take-all sector. Quite the opposite. If product market fit can be found by one title/game studio – others will no doubt rush in to build/compete. The Epic Games Store alone has ~75M monthly active users – many of which will happily play multiple titles per day/week/month. All it takes is one kick-ass game to prove that players are open to blockchain integrated titles, to bring interest back to the sector…and it looks like Off The Grid could be it. Around the same time Off The Grid took the #1 spot in Epic Games, GameFi just so happened to re-enter the top 3 crypto narratives by mindshare. 👇 [Source: Kaito]( It’s still early days yet, and this hype could easily fade… But for right now, it’s starting to feel like crypto gaming might be back. [NEED HELP WITH INVOICING?]( Listen up, dApp builders! [Request Network]( offers the essential tools to build financial dApps with decentralized invoicing. With [Request's Invoicing template](, you can create scalable, transparent systems for the Web3 world. - Powerful invoicing infrastructure: Built to support your innovation. - Comprehensive support: Documentation and tools to help you succeed. - Empowering innovation: Tools that give developers complete control over invoicing. - No gatekeepers: Build freely with a decentralized invoicing framework. Still confused? Check out their [Documentation]( to learn more. [Take control of your invoicing with Request Network](. [breaker] COTD: $BTC WHALES ARE ACCUMULATING LIKE IT’S Q4 2020 💰 Holy hell – whale accumulation is at record highs! The last time this happened was in Q4 2020 (right before [$BTC]( skyrocketed) 👇 [Source: CryptoQuant]( Ok, so what’re we looking at here, exactly? That purple line represents the ‘realized cap’ of Bitcoin whale wallets (aka: wallets holding 1,000 Bitcoin or more). The ‘realized cap’ tracks the average purchase price these wallets bought $BTC at – and right now, the average purchase price of these whale wallets matches the current price of Bitcoin. Meaning that on average – they’re not in profit or loss, but at break even… Here’s why this is worth getting excited about: These whales are hovering around break-even…yet it appears they’re continuing to accumulate – with the $BTC ETFs hitting the highest 7-day net-inflows since July! [Source: CoinDesk]( Which hints that there’s a collection of deep-pocketed people out there that still see (potentially significant) upside in $BTC. …and the last time we were in similar market conditions and saw whale wallets hitting break even on their realized cap was in Q4 of 2020. That was the same period that $BTC moved from ~$10k, to ~$40k – before launching up to $69k in 2021. Not a bad way to start the weekend imo… [breaker] BITE-SIZED COOKIES FOR THE ROAD 🍪 [BakerFi is whipping up winning DeFi strategies to serve delicious returns for your sweet tooth with 1-click strategies.]( By combining yield from top protocols, they offer automated and low-risk yield-generation strategies.* [Polymarket has surpassed $2 billion in betting volume for the U.S. presidential election winner.]( As of today, Trump leads with a 60.5% chance of winning on Polymarket. [Worldcoin has announced that World Chain, its Ethereum Layer 2 network, is now live on mainnet.]( This announcement accompanies Worldcoin's rebranding to World Network. [The 12 Bitcoin ETFs have surpassed $20 billion in cumulative inflows this week.]( For comparison, it took Gold ETFs five years to reach the same milestone. Wowza. [Eigenlayer experienced a security breach where hackers exploited EigenLayer’s official X account.]( They used the account to promote a fake airdrop for $EIGEN. *this is sponsored content and not financial advice [breaker] MILKY MEMES 🤣 [Source: @alancarroII]( [Source: @MilkRoadDaily]( [breaker] RATE TODAY’S EDITION What'd you think of today's edition? [🥛🥛🥛🥛🥛 F**king great]( [🥛🥛🥛 Meh, do better]( [🥛 You didn't bring the heat]( ROADIE REVIEW OF THE DAY 🥛 VITALIK PIC OF THE DAY [breaker] DISCLAIMER: None of this is financial advice. 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