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Uniswap Labs acquires Crypto: The Game

  • Uniswap Labs announced the acquisition of Crypto: The Game (CTG) on Monday.
  • The price of UNI, the native token of the Uniswap decentralised exchange (DEX) protocol rose slightly amid this news.

Uniswap Labs has acquired Crypto: The Game (CTG), a crypto-focused elimination game that’s set to launch its third season.

The price of Uniswap (UNI) rose slightly following the news. According to CoinGecko, UNI had a 24-hour gain of just over 5% at the time of writing, trading at about $10.33. 

Uniswap Labs acquires Crypto: The Game

In an announcement, the Uniswap Labs team said that the acquisition will see CTG founders Dylan Abruscato, Tyler Cagle and Bryan Lee continuing as its developers under Uniswap Labs.

“We’re excited to announce that Uniswap Labs has acquired Crypto: The Game (CTG) — the interactive, on-chain survival game. As part of this acquisition, the CTG team will join Uniswap Labs to continue their work on the highly anticipated Season 3. The team will also experiment with on-chain activations for the Uniswap community,” Uniswap Labs said in a blog post on Monday.

Crypto: The Game Season 3 loading

CTG is gearing up for its Season 3, the first two having lit up the crypto market. The game’s survivor-like elimination created a buzz on social media – particularly on X (formerly Twitter). Interest in the game saw NFT passes for its Season 2 sell out within minutes.

For the two seasons, contestants entered the challenge by buying in with 0.1 ETH. The tribes participated in challenges, with subsequent voting over ten-day seasons seeing one individual emerge the winner.

Uniswap will use the deal to help build an even more exciting experience for the CTG community, according to an announcement.

The UNI token price surged on Monday following the news, trading at around $10.33 and up by more than 5%.

The post Uniswap Labs acquires Crypto: The Game appeared first on CoinJournal.

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Monero price defies gravity ahead of the BitBot token launch

Monero price continued to defy gravity as it surged to its highest point since January 30th. It has surged by over 80% from its lowest level this year, giving it a market cap of over $3.2 billion. The focus among cryptocurrencies is now shifting to the upcoming Federal Reserve interest rates decision and the ongoing ETF inflows.

Monero is defying gravity

Cryptocurrencies wavered on Monday as focus remained on the upcoming Fed decision. Bitcoin held steady below the crucial resistance point at $70,000. Other big cryptocurrencies like Ether and Solana remained in a tight range.

Many altcoins, on the other hand, went through a major sell-off as concerns about the Federal Reserve continued. This sell-off happened after the US published strong jobs numbers on Friday, raising the possibility that the Fed will hold rates steady in this week’s meeting. 

Monero, the biggest privacy coin in the world, was the best-performing token even though there was no major ecosystem news. Notably, the rally continued as Monero formed a golden cross pattern, which happens when the 50-day and 200-day moving averages cross each other. 

In most cases, this is one of the most popular bullish signs in the market. Most importantly, the token has risen above the key resistance level at $180, its highest swing in December last year.

Therefore, there is a likelihood that the bull run will continue in the coming days. If this happens, it will likely surge to the next level at $200. The stop-loss of this trade will be at $170. 

BitBot is seeing strong traction

It is against this backdrop that the BitBot token is gaining more traction in the market a few weeks after it concluded its highly-successful token sale. The developers raised over $4.3 million from investors. 

BitBot’s token sale was highly successful because of what the network is promising. According to its website, the developers are aiming to create the biggest AI-powered Telegram trading bot. 

This is notable because of Telegram’s scale as one of the biggest social media companies in the world with over 900 million users. 

The Telegram bot industry is doing well as demand for trading solutions jump globally. Recent data showed that these bots account to over $164 million worth of tokens every day.

As such, there are signs that it will gain traction because of its emphasis on AI and security. Unlike other Telegram bots, BitBot will be a non-custodial platform, meaning that its developers will not have access to users funds. 

BitBot’s developers are now working on the application. They are also preparing to launch the claiming process for the token. This is a situation where those who bought the tokens will be able to claim them when they start trading. Learn more about BitBot here.

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Crypto investment products inflows hit $2 billion last week, BTC dominates

  • Crypto investment products saw inflows of $2 billion last week
  • According to CoinShares, the inflows reached a 5-week streak, with Bitcoin seeing most of the interest.
  • The total assets under management (AuM) in crypto ETPs crossed $100 billion for the first time since March.

Asset manager CoinShares has shared the latest insight into digital asset investment products flows.

In its weekly report published on Monday, the company says crypto exchange-traded products (ETPs) recorded inflows of $2 billion, hitting a 5-week run as Bitcoin’s price hovered near the key level of $70,000.

Crypto investment products see $2 billion in inflows

In the report, CoinShares head of research James Butterfill noted that inflows into digital assets investment products reached $2 billion, with most of this in Bitcoin (BTC).

With this flows, the crypto sector has extended the winning streak in terms of institutional inflows to 5 weeks. In total, the industry has recorded inflows to $4.3 billion in this period.

BTC dominates the weekly outlook with inflows of $1.97 billion, while Ethereum (ETH) notched $70 million. Data shows this was Ether’s best week since March.

“Unusually, inflows were seen across almost all providers, with a continued slowdown in outflows from incumbents. We believe this turn around in sentiment is a direct response to weaker than expected macro data in the US, bringing forward monetary policy rate cut expectations,” Butterfill noted.

As BTC price rose to near $72k on June 5, crypto ETPs saw the total assets under management (AuM) spike to over $100 billion, the first time it reached the milestone since March. Meanwhile, trading volumes across exchange-traded products hit to $12.8 billion this past week.

SEC’s approval of Ether ETFs key event

Key market events and news this past few weeks have included the approval of spot Ethereum ETFs by the US Securities and Exchange Commission (SEC). The regulator has recently given a nod to filings from multiple ETF issuers, including BlackRock, Fidelity, Grayscale and Bitwise.

Market anticipation around the debut of ETH ETFs has the altcoin market abuzz, with speculation shifting to what it all might mean for XRP, Solana and even Cardano.

The post Crypto investment products inflows hit $2 billion last week, BTC dominates appeared first on CoinJournal.