🥛 The science behind 20% price crashes... 🧐

PLUS: the evolution of stablecoins 👀                                                                                                                                                                                                                                                                                                                                                                                                                 January 24, 2024 | [Read Online]( Today’s edition is brought to you by [MetaMask Portfolio](, your online home for buying, selling, swapping, bridging, and staking digital assets, and NOW offering Validator Staking. [Experiment with Validator Staking on MetaMask Portfolio today.]( GM. This is Milk Road, where we serve crypto insights like your favorite childhood snack – Dunkaroos, anyone? Here’s what we got for you today: - How often do 20% price drops happen? 🧐 - The evolution of stablecoin volume 👀 - Poll of the Day: How many crypto cycles have you been in? 📊 - Flash Crash! This token dropped 50% in one day 🍪 [Prices as of 7:30 AM ET. Click here for our Fear & Greed Index]( HOW OFTEN DO 20% PRICE DROPS HAPPEN? 🧐 There are 3 certainties in life: 1/ Death. 2/ Taxes. 3/ [Bitcoin]( will have 20% pullbacks, even during bull runs. But, how often do these drawbacks happen? Let’s look at the numbers… - From 2011-2013: There were 19 corrections of 20% or more. On average, they happened every 41.5 days. - From 2020 - 2021: There were 8 drawbacks of 20% or more. On average, they happened every 70.3 days. Check out the rest of the pullbacks below… [Source: Blockworks]( The good news? The number of 20% pullbacks has decreased and the length of time between them has increased. It’s a 2-for-1 special. [UNLOCK THE SIMPLICITY OF VALIDATOR STAKING]( Introducing [MetaMask Portfolio’s new Validator Staking]( feature. No pooling. No hardware. Just rewards. Forget about the days of maintaining the software and hardware nodes required to spin and keep a validator up. That’s all done for you through Consensys Staking while you remain in control of your assets, always. All you need to do is deposit 32 ETH for a validator and collect rewards, and we manage the finer details such as: - Client updates - Runtime stability - Managing node operation Validator Staking on MetaMask Portfolio unlocks simplicity and accessibility, removes the technical barriers needed to secure the network, democratizes participation in Ethereum staking, and offers easy monitoring of deposits and rewards. Always with a self-custody first approach. [Get started with Validator Staking on MetaMask Portfolio today.]( THE EVOLUTION OF STABLECOIN VOLUME 👀 I’m a big visual learner type of guy... According to Google, 65% of you are visual learners too. (The rest are borderline serial killers). Well, check it out. [Sphere]( recently made one of those cool time-lapse videos showing how daily [stablecoin]( volume has evolved over the years. [Source: @sphere_labs]( P.S. - It’s a good visual AND has hype music playing in the background. You’ll either learn something new or get so pumped you’ll run through a wall. Anyway, here are some of the biggest takeaways: - The stablecoin market settled $7T of volume in 2022. Yes, T for Trillion. (For reference, Visa settled ~$12T). - In 2021, the most popular stablecoin was… USDT on [Tron](. - Now, the most popular stablecoin is… USDC on [Solana](. - Solana now settles more stablecoin volume than all [Ethereum]( stablecoins, combined. In 2021, Solana's stablecoin volume wasn’t even in the top 5. Pretty interesting to see how much things have changed since the last bull run. POLL OF THE DAY: HOW MANY CRYPTO CYCLES HAVE YOU BEEN IN? 📊 I recently saw a meme about crypto investors that made me laugh… [Source: @satsdart]( I like it because: 1/ The midwit meme is the greatest of all time. It’s the Michael Jordan LeBron James of memes. (Yeah, I said it… LBJ > MJ). 2/ The meme is so true.  1st cycle: you’re the “dumbest” version of yourself… - Take 2 hours to make 1 transaction. - Struggle to say “ETH” (pronounced “eeeeeth”). - Acknowledge crypto is confusing, so you only try to master 1-2 narratives and ignore the rest. (Ignorance is bliss). 2nd cycle: you overthink everything... - Learn what TVL means and become a “chart guru.” - Get paralysis by analysis after looking at 3,838,283 graphs a day. - Think you’re a genius and try to master ALL the narratives at once. 3rd cycle: you become a crypto master… - Stick to the basics. - Figure out 99% of metrics are bullsh*t. - Don’t get lost in the sea of narratives; pick 2-3 and stick to them. P.S. - this is my 2nd cycle and I’ll be honest… I feel exactly like the crying dude in the middle of the midwit meme. I’m twice as experienced, but also twice as likely to overthink things. It got us curious… How many crypto cycles have YOU been in? [1st cycle - I'm a rookie.]( [2nd cycle - I'm ready for Round 2.]( [3rd cycle - I'm a vet. Where's my purple heart medal?]( Click your answer above and we’ll share the results later this week! BITE-SIZED COOKIES FOR THE ROAD 🍪 [OKX’s native token plummeted 50% after a mysterious flash crash happened](. The exchange confirmed that it will compensate users for losses caused by the liquidation cascade, including on-chain trades. [Magic Eden is partnering up with Non-Fungible DAO to open-source its minting and trading protocols](. There are also plans to launch a new token called “NFT” to reward NFT traders on the platform. [Mt. Gox creditors are one step closer to getting their repayments](. Some former customers of the crypto exchange have reported receiving an email asking for confirmation of identity and account details. [A Bitcoin Ordinals inscription sold for ~$254,000 at Sotheby’s](. The “Genesis Cat” Ordinals inscription received over 50 bids. [Rollbit is teaming up with FaZe Clan in a multi-million-dollar esports deal](. The crypto casino will sponsor FaZe Clan’s Counter-Strike 2 team (ranked #1 in the world, btw). [Former NBA player Dwight Howard launched a new NFT project on Avalanche](. The problem? Only ~15% of the total supply was minted. That’s 4x lower than Dwight’s career free-throw percentage (~57%) in the NBA. Oof. MILKY MEMES 🤣 [Source: @AltcoinGordon]( [Source: @TheBTCTherapist]( RATE TODAY’S EDITION What'd you think of today's edition? [🥛🥛🥛🥛🥛 F**king great]( [🥛🥛🥛 Meh, do better]( [🥛 You didn't bring the heat]( Share Milk Road You currently have 0 referrals, only 1 away from receiving The Next 10x Opportunity in Crypto for 2023. [The Next 10x Opportunity in Crypto for 2023]( [Click to Share]( Or copy and paste this link to others: ROADER REVIEW OF THE DAY VITALIK PIC OF THE DAY [tw profile: Milk Road Images] Milk Road Images @MilkRoadImages [tw] What it feels like waiting for ETH to hit $5K Jan 24, 2024 0 Likes 0 Retweets 0 Replies YOUR CHANCE TO WIN A FREE TREZOR! Since its first newsletter on December 31, 2021, Milk Road has delivered fun, easy-to-read content every weekday, regardless of the weather. In return for your loyalty, we've never asked for anything—until now (fact check please). 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