The Defiant

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✍️ In today’s newsletter:

Markets Rally As Weak U.S Jobs Data Spurs Rate Cut Hopes
Pump.Fun Surpasses Uniswap in Weekly Revenue
Blast Community Split Over Latest Jackpot Distribution

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📈 Markets in the last 24 hrs:

	Ticker	Value	24h

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 interview with Haseeb Qureshi From Dragonfly Capital. 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.

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📈Markets Rally As Weak U.S Jobs Data Spurs Rate Cut Hopes

Crypto markets turned higher on Thursday after the latest U.S. unemployment figures continued to signal that the world’s largest economy might be slowing down, boosting investors’ hopes for rate cuts from the Federal Reserve.

Weekly jobless claims hit an 8-month high of 231,000, well above the consensus estimate of 212,000. The report comes a week after monthly payroll data showed the U.S. economy added the fewest jobs in six months in April.

Total crypto market capitalization rose 2% to $2.44 trillion.

⛽Pump.Fun Surpasses Uniswap in Weekly Revenue

Pump.Fun, a memecoin launchpad platform, has become the second-largest revenue-generating platform in DeFi over the last week, surpassed only by the Ethereum network.

The platform has raked in $3.3 million over the past seven days, putting it ahead of Uniswap.

SPONSORED POST

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💰Blast Community Split Over Latest Jackpot Distribution

Ethereum Layer 2 Blast held its fourth jackpot drawing on May 8, with a total of 965,589 Gold allocated to the PacMoon community in the largest distribution yet.

However, some Blast participants are frustrated after PacMoon holders earned more Gold in a week than dApps have earned in two months.

🌍 ELSEWHERE

Bitcoin Mining Difficulty Is Plummeting—Here’s Why (Decrypt)
Influencer-Investors Get Perks to Pitch Tokens: Inside Crypto's 'KOL' Economy (CoinDesk)
Crypto giant DCG post surges in revenue, Grayscale profitable despite $15 billion in outflows (Fortune)