OVERVIEW

Two Altcoins Set To Pop From Polymarket-X Deal 🤯

Before we dive in, here’s today’s crypto market heatmap:

And here’s a look at crypto’s total market and altcoin market cap charts:

NEWS
UMA And Polygon: They’re What Keeps Polymarket Running 🏃

This major announcement just happened this morning:

Great news for not just X and Polymarket - but for crypto - specifically, two altcoins: $UMA.X ( ▲ 2.91% ) and $MATIC.X ( ▲ 4.38% ) (ya, it’s suppose to be POL, we’re working on that).

Why do UMA and Polymarket benefit?

Polymarket is built on Polygon and relies on Polygon to handle fast and low-cost transactions - perfect for trading prediction outcomes. With X bringing hundreds of millions of potential users into the mix, Polygon’s network could see a massive spike in activity.

And for UMA, it’s a getting a major utility boost. Well, more like a roid injected utility boost.

Polymarket uses UMA’s Optimistic Oracle as its backstop for resolving tricky market disputes when official sources can’t settle a bet. With increased user engagement from X’s integration, expect more ambiguous market outcomes, meaning greater reliance on UMA’s oracle services.

As of 1 PM EST, here’s how both Polygon and UMA are looking:

UMA was up 34% at one point, now sitting at a 20-ish% gain.

And Stocktwits users? Bullish - and that number is rising.

And Polygon is doing well, not as good as UMA, but a 7%gain isn’t too shabby. 

But Stocktwits’ sentiment data might be telling everyone that the bigger maybe moves haven’t happened yet - sentiment is rising, but the message volume is still low. Let’s see what happens.

STOCKTWITS
Stocktwits Sentiment Index: Fear Is the Default. Again. 😱 

Retail sentiment hasn’t left the fear zone since May 22, and the Stocktwits Sentiment Index has been parked in nope-nope-nope territory for over two weeks straight. 😱 

Even the brief flickers of optimism on May 24 and 27 didn’t last long - and let’s be honest, a 0.96 “greed” reading on 5/27 barely qualifies as enthusiasm. 🤷‍♂️

Zooming out, this isn’t new. Retail has been shaky ever since the greed rally fizzled in late January.

From February 1 to May 11, the index churned through sustained fear, with three standout panic spikes above 3.0: April 9 (3.26), April 23 (3.25), and March 17 (2.89).

And while there was a shallow rebound in mid-May, with a short-lived greed pocket between May 12 and May 21, it quickly reverted to caution. Again.

In short? Retail’s still bracing for impact. The hopium is low. The fear, persistent.

For the stonk market, this is one of those 🚨🚨🚨WE’RE IN A GOOSEBUMPS BOOK WRITTEN BY JEROME POWELL 🚨🚨🚨kind of warnings.

For crypto? This is every other Tuesday.📉

NEWS
One Of Crypto’s Best Friends Is Having A Hell Of A Time 🥳

Silver bugs (and gold bugs) are crypto people. In fact, before everyone and their dog started to accept Bitcoin and other crypto, precious metals people and the vast majority of bullion dealers were some of the first to accept Bitcoin as a form of payment. 🫂 

Hell, they were accepting crypto a decade before almost anyone else got on board.

And silver, more than gold, has always had a special connection to crypto. Probably because gold too hoity toity. And silver has always been the metal of value for normal people doing normal things who need normal stuff (food, transportation, clothes, etc).

Crypto’s bestie is having an awesome week. How awesome? The most awesome week since Obama - his first term.

NEWS IN THREE SENTENCES
AI, Stablecoins, & Privacy News 🕵️

🧠 Sei Wants AI to Have Economic Independence

Turns out AI can't truly thrive if it’s always asking humans for allowance money. Sei’s blockchain solves this with superfast, machine-scale micropayments, enabling AI agents to autonomously transact and hire each other without us meddling meatbags. Finally, robots can handle commerce at blistering speed. Sei.

☁️ Sia Cloud Wants You to Panic Less About Your Data Getting Stolen

Sia Cloud decentralized storage splits your data into encrypted shards spread across nodes, avoiding centralized servers that get hacked weekly. It’s designed to avoid those "inside-job" hacks like Coinbase’s recent fiasco, giving you complete ownership of your data encryption keys. Siacoin.

NEWS IN THREE SENTENCES
Real World Asset Tokenization (RWA) News 🪙

🚀 Plume Alpha Rolls Out Slowly

Plume Alpha’s mainnet launch is starting with cautious onboarding of big institutional names like Blackstone and Invesco into its "real-world asset" DeFi ecosystem. They promise crypto-style easy swaps, staking, lending, and borrowing of assets like GPUs and private credit - assuming you don’t live in the US or any other place fun is banned. Plume Network.

NEWS IN THREE SENTENCES
Metaverse, NFT, & Gaming News 🎮️

📱 Injective Launches Degen Arena on Telegram

Injective’s new Degen Arena integrates social trading and gaming, letting traders compete, chat, and lose money together via Telegram. Powered by Injective’s Helix exchange, it streamlines complex perpetual trades into simple Telegram commands - perfect for degens who prefer gambling socially. Injective Protocol.

🎮 Chiliz Teams Up with Ninjas in Pyjamas

Chiliz and esports powerhouse Ninjas in Pyjamas are launching the DOJO Fan Token on June 24, bringing Web3 rewards and exclusive merch to fans who desperately needed more ways to spend money on their obsession. Built on the Chiliz Chain, DOJO holders get fan token-gated experiences, voting rights, and a chance to flex loyalty in new and digital ways. Chiliz.

🐻 Berachain’s Bectra Upgrade: Ethereum’s Innovations, But Make Them Faster and Actually Useful

Berachain just rolled out the Bectra upgrade, becoming the first EVM-compatible Layer 1 after Ethereum itself to implement programmable smart wallets, faster validator exits, and rollup support. Users can now batch transactions, sponsor gas fees in HONEY, and enjoy streamlined staking. Basically, Berachain did Ethereum better than Ethereum, without requiring devs to rewrite a bunch of code. Berachain.

NEWS IN THREE SENTENCES
DeFi, DEX, & Lending Protocol News 🏦

🎢 Orca Unveils Adaptive Fees

Orca's new Adaptive Fees automatically increase LP earnings during market swings, finally rewarding liquidity providers for stomach-churning price action. Token creators also benefit, since volatility now attracts liquidity instead of scaring it off. Orca's essentially turned market chaos into a payday. Orca.

🕶️ PriveX Launches on COTI Mainnet

PriveX, the new intent-based decentralized exchange on COTI Mainnet, lets you trade privately without every DeFi degenerate tracking your moves. It’s powered by Symmio, taps both centralized and decentralized liquidity, and will soon launch AI trading agents who not only trade for you but brag about their wins online. Congrats, traders - now you can lose money privately instead of publicly. COTI.

LINKS
Links That Don’t Suck 🔗

🤯 US trade deficit plummets by $76,700,000,000 in April following the rollout of Trump’s tariffs

🤔 Tariffs not a threat to S&P Momentum, says Fundstrat’s Tom Lee

⚽️ FIFA’s blockchain game ‘Rivals’ to feature Adidas NFTs

👍️ 1inch reclaims DEX aggregator lead with 60% market share after Solana expansion

🇨🇳 China grants eare earth export licenses to U.S. automakers

😯 Gemini announces confidential submission of draft registration statement for a proposed initial public offering

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Author Disclosure: The author of this newsletter holds positions in ADA, IMX, COPI, MIN, AGIX, ALGO, ZEC, XLM, and NEAR. 📋