WEBVTT

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<v Speaker 1>Hey, it's Alex with the Token Metrics Daily Pulse for

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<v Speaker 1>May twenty second, twenty twenty six. We've got a lot

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<v Speaker 1>to get through today, from a major prediction market hack

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<v Speaker 1>to some serious shifts in Ethereum's leadership. Grab a coffee,

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<v Speaker 1>settle in, and let's dive right in. But first a

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<v Speaker 1>quick word from our sponsor. Okay, so here's what's happening.

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<v Speaker 1>Polymarket just lost seven hundred grand to an exploit. Ackers

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<v Speaker 1>targeted an internal top up wallet and drained it. Bitcoins

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<v Speaker 1>basically glued to seventy seven thousand, and alt coins are

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<v Speaker 1>catching bids anyway, which is honestly kind of impressive with

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<v Speaker 1>the majors completely asleep. So where does that leave the

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<v Speaker 1>rest of the market. Bitcoin's flat around seventy seven k,

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<v Speaker 1>Ethereum's doing nothing near twenty one hundred. Total market cap

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<v Speaker 1>is basically unchanged at two point six trillion. Fearing Greed

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<v Speaker 1>is at twenty eight that's still fear territory. But funding

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<v Speaker 1>rates are bullish and open interest is climbing, so traders

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<v Speaker 1>are getting ready even if prices aren't moving yet. The

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<v Speaker 1>narrative board is lit up. Arcade games are leading up

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<v Speaker 1>over fifty percent action games and the Growpad ecosystem are

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<v Speaker 1>both up more than forty percent. Data availability is rising too,

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<v Speaker 1>led by near Protocol up big after its AI and

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<v Speaker 1>privacy upgrades. Even the Venus ecosystem joined the party. It's

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<v Speaker 1>a risk on day for NIE sectors and there's one

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<v Speaker 1>move worth putting on your radar. The S and P

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<v Speaker 1>five hundred led majors this week up just under one percent.

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<v Speaker 1>When crypto's stuck, any equity bid matters, it means risk

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<v Speaker 1>appetite is still alive. The crypto read is simple. Firm

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<v Speaker 1>stocks give bitcoin a floor. If equities roll over, Crypto

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<v Speaker 1>likely follows. For the full chart breakdown and risk scenarios,

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<v Speaker 1>this is the deeper version. The full macro regime walk

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<v Speaker 1>through and what it means for your crypto allocation is

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<v Speaker 1>in the month of playbook Alpha trial at tokenmetrics dot com.

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<v Speaker 1>Let's get into the stories driving everything today. Polymarket got

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<v Speaker 1>drained for seven hundred K from an internal top up wallet.

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<v Speaker 1>It's a suspected private key hack. The takeaway is that

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<v Speaker 1>user funds and core contracts are safe, but the timing

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<v Speaker 1>is brutal. Polymarket is pushing into Japan right and Japan's

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<v Speaker 1>gambling laws already make that tricky. A hack doesn't exactly

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<v Speaker 1>help the regulatory conversation. If trading volume stays normal and

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<v Speaker 1>users aren't fleeing, the market treats it as isolated. If

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<v Speaker 1>volume drops twenty percent or withdrawal issues pop up, confidence

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<v Speaker 1>is cracking, then there's Ethereum. In plain English, this is

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<v Speaker 1>a hostile takeover proposal from the technical community. Dankrad Feist,

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<v Speaker 1>a former Foundation researcher, wants a one billion dollar Ethereum

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<v Speaker 1>advocacy group with a leader who actually wants to fight.

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<v Speaker 1>They're frustrated with the Foundation's direction. When your own researchers

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<v Speaker 1>start publicly plotting your replacement, that's an identity crisis. If

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<v Speaker 1>big Ethereum holders back this with real money, it becomes

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<v Speaker 1>a governance threat. If it's just noise, the Foundation can

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<v Speaker 1>ignore it. Near Protocol is having a moment. It's up

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<v Speaker 1>twenty eight percent today and forty five percent this week

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<v Speaker 1>after rolling out privacy AI and scaling upgrades. This isn't

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<v Speaker 1>just another layer two story. Near Protocol is chasing the

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<v Speaker 1>AI settlement layer niche that everyone wants but nobody owns,

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<v Speaker 1>which means the market is betting that AI plus privacy

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<v Speaker 1>is the combo that actually matters. If near protocol holds

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<v Speaker 1>above seven point fifty, while Bitcoin and ethereum go nowhere.

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<v Speaker 1>This narrative has legs if it gives back half the

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<v Speaker 1>gain in three days. It was just hot money chasing hype.

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<v Speaker 1>Blockchain dot Com filed confidentially for a US public listing.

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<v Speaker 1>It's one of the oldest crypto wallets and exchanges out there.

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<v Speaker 1>This isn't a coinbase rerun. Blockchain dot Com is more

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<v Speaker 1>international and retail heavy. The real question is whether public

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<v Speaker 1>markets still want crypto exposure after the twenty twenty two hangover.

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<v Speaker 1>If the valuation comes out above ten billion, appetite is

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<v Speaker 1>back below eight billion, investors are still scarred. Finally, traditional

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<v Speaker 1>finance and crypto are officially tying the knot. A major

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<v Speaker 1>crypto exchange partnered with the parent company of the New

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<v Speaker 1>York Stock Exchange to bring never expiring oil futures to cryptotraders.

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<v Speaker 1>This is institutional infrastructure that actually matters, real commodities, real

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<v Speaker 1>regulated markets. Hyper Liquid already proved this model works. The

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<v Speaker 1>question is whether one hundred and twenty million retail traders

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<v Speaker 1>actually want to trade oil, or if they just want crypto.

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<v Speaker 1>If daily volume tops one hundred million in thirty days,

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<v Speaker 1>crypto users want real assets. If it's days under twenty million,

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<v Speaker 1>it was just a press release, So what should you

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<v Speaker 1>actually be worried about? All right, before we get into

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<v Speaker 1>the risks, quick word from our sponsor. Okay, we're back.

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<v Speaker 1>Let's talk about what to watch for. Prediction market security

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<v Speaker 1>is a real concern. Polymarkets seven hundred k exploits shows

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<v Speaker 1>growing pains as they chase institutional adoption. Then there's ethereum

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<v Speaker 1>governance fragmentation. Dankrad Feist's billion dollar proposal signals a deepening

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<v Speaker 1>rift between the Foundation and the technical community, and these

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<v Speaker 1>alt coin shifts are fragile. Fear and greed is that

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<v Speaker 1>twenty eight and bitcoin dominance is dropping. That suggests money

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<v Speaker 1>is flowing to smaller tokens, but without fresh capital, these

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<v Speaker 1>moves can reverse fast. Security breaches and governance fights are

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<v Speaker 1>exposing structural cracks as crypto pushes mainstream. That flips if

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<v Speaker 1>polymarket recovers smoothly and the Foundation addresses Feis directly and

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<v Speaker 1>looking ahead funstrats, Tom Lee thinks trillions in new company

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<v Speaker 1>listings from SpaceX, Anthropic and OpenAI won't crash the S

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<v Speaker 1>and P five hundred, he argues under allocated investors will

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<v Speaker 1>absorb it if he's right. Risk appetite stays intact if

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<v Speaker 1>he's wrong. Watch out below. Quick up Dave from our world.

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<v Speaker 1>If you held TMAI on Gate, dot Io, Bitpanda or MXC,

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<v Speaker 1>the exchangeholder migration path is now open. Check your eligibility. Also,

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<v Speaker 1>our hidden Gems feature is live for low cap tooken discovery.

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<v Speaker 1>It's already in the platform. For those of you who

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<v Speaker 1>are serious about your portfolio. Token Metrics Roundtable gives you

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<v Speaker 1>private AI portfolio reviews, live monthly discussions, and everything in

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<v Speaker 1>our alpha plan. Head to tokenmetrics dot com to see

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<v Speaker 1>if it's a fit. This is educational content, not investment ADVI,

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<v Speaker 1>always do your own research. I'm Alex, See you next time.