The Defiant

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✍️ In today’s newsletter:

Fantasy.Top Takes Off But Faces Malicious Bot Activity
Crypto Markets Give Up Previous Week's Gains
Superchain-based Mode Network Kicks Off Airdrop
AI Tokens Outperform as Crypto Markets Consolidate

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📈 Markets in the last 24 hrs:

Ticker	Value	24h
Bitcoin	$62,889	-0.45 %
Ethereum	$3,039	-0.84 %
Gold	1st Future$2,322 0.00	%
S&P 500	5187.70 0.13	%
Arch Web	32.13	-0.76 %
Learn more about Arch Indices ,[object Object]		%

🎬 WATCH

Check out our podcast with Carlos Domingo, the founder and CEO of Securitize, to learn about BlackRock’s tokenized fund, BUIDL. Plus, check out our tutorial exploring Friend Tech’s bubbling v2 iteration.

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Guru builds Multi Chain AI Compute Layer with orchestration handled by Guru Enlightenment Network. Ecosystem is focused on implementation of Atomic Franchise Mechanism allowing Gurus to share and earn on their AI Processors and Individual agents.

Safe{Wallet} is considered the most secure wallet in the web3 space, trusted by Vitalik Buterin and leading projects to safeguard over $100 billion in assets. The smart wallet is widely known for its multisig functionality, offering robust security measures, convenient account recovery, and access to a thriving ecosystem of over 200 integrated apps.

🎴Fantasy.Top Blasts Off But Faces Malicious Bot Activity

Fantasy.Top, a social-fi card trading game built on Ethereum Layer 2 Blast, has grown rapidly since its launch on May 1.

After eclipsing $70M in total value locked (TVL) during its pre-launch phase, nearly 34,000 unique users have traded over 8,000 ETH ($24 million) worth of cards.

📉Crypto Markets Give Up Previous Week's Gains

Crypto markets dipped on Wednesday, with most tokens surrendering the majority of their gains from last week's rally.

Bitcoin is currently trading at around $62,500, down nearly 2% over the last 24 hours. Ether dropped 1.4%, while Dogecoin dipped by 4%.

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⛓️Superchain-based Mode Network Kicks Off Airdrop

Mode, a Layer 2 network that leverages Optimism’s OP Stack, has launched its native MODE token with an airdrop for early adopters. 500 million MODE tokens will be distributed, accounting for 5.5% of the total 10 billion token supply.

MODE dropped 60% shortly after its launch.

🧠AI Tokens Outperform as Crypto Markets Consolidate

Artificial intelligence (AI) tokens have bounced back strongly, with Render Network soaring 40% in the last seven days.

Other AI coins, like SingularityNET's AGIX, Bittensor's TAO, and Fetch.ai's FET, have rallied between 17% and 23%, outperforming the overall market.

🌍 ELSEWHERE

President Biden says he would veto resolution countermanding SEC crypto rule (Cointelegraph)
Crypto Markets Under Pressure as $2B Worth of Altcoin Token Unlocks and $11B Bitcoin Distribution Loom (CoinDesk)
Robinhood's crypto business drives massive earnings beat (Reuters)