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Today's edition is brought to you by Kiln dApp - a permissionless and non-custodial dApp allowing you to stake your ETH or LST and engage in EigenLayer Restaking. |
Stake or restake with the Kiln dApp. |
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GM. This is Milk Road, the crypto newsletter that's as satisfying as hitting a hole-in-one on the mini-golf course. |
Here's what we have today: |
Polymarket betting is booming 🤯 Chart of the day: Nvidia vs. Bitcoin 📈 Election years move markets ↕️ PRO "Where are we in the cycle?" indicators 🤔 Thailand approves first spot Bitcoin ETF 🍪
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POLYMARKET BETTING IS BOOMING 🤯 |
Yo! The Milk Man's back with a fresh spotlight that's hotter than your GPU after a mining marathon. |
Say hello to Polymarket, the decentralized prediction market that's been setting records and taking names. This bad boy just hit over $62M of betting volume in May alone, shattering ATHs like a pro. |
What's Polymarket? |
Picture this: a platform where you can bet on real-world events, from politics to global happenings. Think of it as an onchain Vegas. 🎰
There's plenty of money locked up in the house and a ton of active gamblers are in on the fun. |
So, let's take a look at the numbers: |
$45M Series B Funding: Added in May, pushing their total funding to a cool $74M. 💰 14.7K Monthly Active Users: These users are stacking up like Satoshis on a bull run. 👤 $23.7M Total Value Locked (TVL): Almost at an all-time high, proving the dapp's solid traction. 📈 $18.4M Weekly Trading Volume: Setting a new ATH last Sunday. 🔥
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These record-breaking numbers in Polymarket are fueled by the US political season's buzz, bringing more speculation on-chain than a gossip column at a celebrity wedding. |
The biggest bet? The US presidential election winner, already raking in a jaw-dropping $149M worth of bets. |
And the top 10 biggest bets? All politics, baby! With eight out of the ten being US related, it's like the Super Bowl for political junkies. |
Why it beats old-school betting sites: |
Lower fees: More money stays in your pocket, not the bookie's. Global accessibility: Bet on anything, anywhere. You pick the bet: Anyone can become a market maker and decide what to bet on. Market sentiment: Feel the market's pulse and know what everyone's thinking (many used Polymarket to gauge the likelihood of the ETH ETF being approved). Transparency: All info is available onchain. No bookie gimmicks. Trustless betting at it's finest!
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The Milk Man thinks this is a prime example of a real-world use case in crypto. |
To keep the winning streak alive, he believes there are still three more reasons why there are more Ws ahead: |
US Election Season = Boom Time: As seen above, with the US elections continuing to heat up, Polymarket's user base and volume are expected to go parabolic. No Token Generation Event (TGE) Yet: Right now, this activity isn't incentivized; people are just having fun. But a potential airdrop would reward true users, supercharging the protocol's activity and user base to new heights. Community Engagement: Polymarket's Twitter game is on point. They're not just riding the wave; they're leading the charge. Their community presence keeps them at the forefront of everyone's minds.
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One thing's crystal clear: Polymarket is legit. No gimmicks, no inflationary tactics—just pure, unadulterated growth. |
Hey Roadies, have you tried Polymarket yet? |
A/ Yes, and it's awesome! 😍 |
B/ Yes, but not my thing 😒 |
C/ Not yet, but I'm game! 🚀 |
D/ No, and I'm not interested 🙅 |
Hit reply and spill the beans! |
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CHART OF THE DAY: NVIDIA VS. BITCOIN 📈 |
Ever wondered what happens when AI battles crypto? |
It's like watching a supercomputer arm-wrestle a blockchain – and Nvidia just slammed Bitcoin's hand to the table. |
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In this decade-long showdown, Nvidia's AI chips outpaced Bitcoin's digital gold.
Check out the graph: |
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Yes, that is indeed 24,840% and 19,920% gains respectively…
As of June 3, 2024: |
Nvidia's market cap is stratospheric at $2.8T. That's right, trillion with a "T" 🚀. Bitcoin's market cap also saw an impressive rise, to $1.4T, but couldn't keep up with Nvidia's rocket ship pace.
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Nvidia's Highlights: |
Revenue Boom: From $26.97 billion in 2023 to a projected $146.87 billion by 2026 📈. Data Center Dominance: A whopping 409% YoY revenue increase in Q4 2024. AI Powerhouse: Major boosts from generative AI use cases.
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In the grand duel of digital titans, Nvidia is leading the charge. As AI continues to evolve, Nvidia's future looks like it's been programmed for success. |
Reminds the Milk Man of something else… cough cough $BTC?
And as always in the wild world of crypto and tech, things can change faster than you can say "HODL" 🚀. |
So whether you're team AI or team crypto (or both like the Milk Man 😎 ), there's no denying the powerhouse Nvidia has become. |
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ELECTION YEARS MOVE MARKETS ↕️ |
Election years aren't just about picking new leaders; they're often record years for the stock market. But what about crypto? |
We've already seen $Boden and $Tremp memecoin mania, and the last few days have been wild!
In yesterday's daily we asked you: Is the crypto election one of the most important influences in crypto right now? 73% of you voted YES!
We explore how political shifts over the next 6 months could impact your crypto in today's episode of Milk Road Radio. |
Stay on top of the Crypto Election and tune in 👇 🎧 |
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YouTube | Spotify | Apple Podcasts
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PRO "WHERE ARE WE IN THE CYCLE?" INDICATORS 🤔 |
Crypto moves in cycles, and knowing where we are in the current cycle is crucial for capturing the best opportunities. |
The goal is to spot the bull market peak before the inevitable bear market hits your bags hard. |
Since timing the top perfectly is almost impossible, we use various indicators to give us a better shot at taking profits before it's too late. |
Here are the 5 indicators we track, with a color-coded system to show how close they are to signaling the market peak: |
🟢 Plenty of room to run 🏄 |
🟡 Getting closer to the top signal, but haven't yet reached the mark ⚠️ |
🔴 We've hit the market top indicator 🚨 |
Every Tuesday, we update these 5 indicators exclusively for PRO members. |
Our advice? Don't wait for all of them to hit 🔴. It's better to take profits as they get closer to that point. |
Let's dive in and see if we're anywhere near the top of this bull market. 👇 |
| GO PRO AND UNLOCK: | Full access to the 5 bull market peak indicators above. 👆 Our weekly reports that help you invest successfully in crypto. 💰 Full access to the Milk Road PRO community. 🫂
| | PRO REVIEW OF THE WEEK | |
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BITE-SIZED COOKIES FOR THE ROAD 🍪 |
Polygon Labs acquires Toposware, pushing total ZK investment to $1B. With Toposware's team now on board, they're aiming to make Ethereum-compatible blockchains more private and scalable without major tweaks. |
Solana's memecoin mania pushes Pump.fun revenue above $30 million. With tens of thousands of memecoins launching on Solana daily, Pump.fun's revenue skyrocketed. Celebrities like Caitlyn Jenner and Iggy Azalea are jumping on the meme train—next stop, moon-ville! |
Thailand Approves Its First Spot Bitcoin ETF. Thailand greenlights its first spot Bitcoin ETF, giving wealthy investors a taste of Bitcoin without the wallet headaches. It's like joining the crypto club with a VIP pass! |
VanEck CEO Predicts Bitcoin to Surpass Half of Gold's Market Cap. Jan van Eck foresees Bitcoin's market cap reaching at least half of gold's $15.7 trillion within 5 to 10 years, driven by TradFi's gradual acceptance and international investors seeking alternatives to SWIFT. |
Wanna team up with the Milk Man? We currently have 2 positions open – check 'em out and apply here! |
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MILKY MEMES 🤣 |
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RATE TODAY'S EDITION |
What'd you think of today's edition? |
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ROADIE REVIEW OF THE DAY 🥛 |
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ROADIE REPLY OF THE DAY 🥛 |
In yesterday's daily we asked you: is the crypto election one of the most important influences in crypto right now?… well 74% of you voted YES! |
And here is the reply of the day: |
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VITALIK PIC OF THE DAY |
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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. |
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