Market Metrics

Total Crypto Market Cap: down 2.2% to $2.46T
Total AI Sector Market Cap: up 2.3% to $28.7B

Top Movers (7 days):

📈 LimeWire (LMWR): up 30.8% to $0.4025
📈 Hera Finance (HERA): up 10.9% to $2.53
📈 Phantasma (SOUL): up 8.3% to $0.08523

Mindshare Check:

The AI sector currently accounts for 25.57% of the total crypto market’s narrative mindshare. This is up 9.43% during the past 7 days.

Daily News

🟠 Akash founder Greg Osuri teased a new mechanism that allows non-crypto users to deploy services on their platform with a single click, without needing a wallet or AKT tokens, while still preserving self-custody and permissionless aspects of the system

🟠 The Open Source AI Summit, co-hosted by NEAR Protocol, is set to take place on July 6th in Brussels during EthCC, featuring talks on the intersection of Web3 and AI. The event is sponsored by several prominent AI teams, including Livepeer, Akash Network, and Exabits, among others.

🟠 GameSwift announced its integration into the Superchain as the first AI Gaming chain, collaborating with projects like Optimism, Base, and ZORA. The GameSwift Modular Chain's testnet is set to launch on June 27th, marking an expansion of the Superchain ecosystem into the AI gaming space.

🟠 Arkham is partnering with Mantle Network to integrate support for their Layer 2, enabling comprehensive analytics for the Mantle ecosystem.

🟠 The German government has begun selling a large amount of Bitcoin seized from a movie piracy website, with over $195 million worth of BTC sold in the past 24 hours. This significant liquidation is part of a larger $3.05 billion Bitcoin position held by the German government.

Highlight of the Week

DJT: The Great Debate

As some of you may have seen, a token called Trumpcoin (DJT) cause quite a stir this week. The token was launched on Solana over a month ago, but this week, The Pirate Wires tweeted that the token was launced by the Trump team, sparking a flurry of trading activity. Initially the token pumped off the unsubstantiated claims, but the story didn’t stop there, with KOLs on Twitter fighting back and forth about whether the token was legitimately associated with Trump.

It came to light that Trump’s 18 year old son, Barron, was somehow associated with the project, with Martin Shkreli vocally expressing that the token was indeed connected with Trump. Shkreli was then challenged to a $1 million escrowed bet from another individual, which he accepted and called out other individuals to join the bet. GCR, a trader famous for his winning bet against Terra founder Do Kwon, joined the conversation, offering $100 million to bet against Trump’s direct involvement in the coin.

Arkham Intelligence then posted a $150,000 bounty for the first person to provide proof of who created the token to settle the speculation. ZachXBT, known for his onchain sleuthing, exposed Shkreli as the creator of the DJT token, winning the Arkham bounty for proving Shkreli's identity through transaction data evidence. This revelation sparked further investigations, including the identification of whales dumping $4.6 million in DJT following a tweet from Pirate Wires.

In the end, it has been a crazy week and it is pretty incredible that these situations are still so common in crypto given that the blockchain is designed for transparency. With the improvement of onchain analytics and AI tools like Arkham, we hope to see the number of situations like this become much more infrequent.🤞🏻

Meme of the Day

Markets nuking but we’re comfy in spot, we swear…