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Uniswap (UNI) Shoots 6% Amid Major Acquisition Update
Uniswap Labs has acquired the popular blockchain-based game Crypto: The Game (CTG). This announcement follows a surge in the UNI token price, which saw a 6% increase on the three-hour price chart. Mary-Catherine Lader, Chief Operating Officer at Uniswap Labs, expressed enthusiasm about integrating CTG’s engaging on-chain experiences with Uniswap’s offerings.
Uniswap Labs Acquires Crypto: The Game
To do this, it has strategically acquired CTG, which aligns with its vision of making blockchain interactions fun and straightforward. We have seen the porosity that CTG has created; the challenge is to bring more humanity and fun to these on-chain experiences, Lader stated. While the full details of the actual agreement can only be guessed at, it was reported that the payment included cash, tokens, and equity stakes.
The purchase is a business deal and cooperation that aims to drive the development of the crypto games. The team of Uniswap will be staffed by founders of CTG – Dylan Abruscato, Tyler Cagle, and Bryan Lee. The union will seek further development in the next season of CTG’s third season, alongside presenting new crypto-experience interaction. Notably, the companies underlined their decision that the game will not contain any marketing of Uniswap wallet or an exchange to preserve the nature of the game.
Crypto The Game has people hooked on the crypto world and attracts new crypto community members. The number of people who only gamble on this game but are new to cryptocurrency is believed to be around 10%–15%, demonstrating that it can serve as an entry point to DeFi. The E-Sports game has effectively drawn the attention of community sects, such as crypto gurus and venture capitalists.
Some of the main strategies that have contributed to CTG’s cult status in its previous seasons include sponsorship from some of the largest brands across the globe, such as Addidas, and partnerships with firms dealing in crypto, such as Wormhole. The competition challenges the players every season, and the format is similar to TV shows such as Survivor, which has aided this format’s popularity.
UNI Token Gains 6% on Acquisition News
On the 3-hour price chart, the UNI price has shown promising trends, reflecting positive investor sentiment following the acquisition news. Closing the latest interval at $10.441, the token’s 6% increase signifies a robust market response. The Relative Strength Index (RSI) is nearing the overbought territory at 64.60, suggesting potential for future price consolidation or pullback if the market perceives UNI as overvalued.
Source: TradingView
Moreover, the Moving Average Convergence Divergence (MACD) indicator presents a bullish outlook. With the MACD line poised to cross above the signal line, traders could interpret this technical indicator as a buy signal, potentially further driving the buying momentum for the UNI token.
Also Read: Cardano Light Wallet Lace Launch Upgrade, Floats Multi-Staking Feature
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Tron founder Justin Sun has laid out an ambitious plan to drive Ethereum (ETH) price towards a $10,000 price point. Sun’s proposal includes halting ETH sales, taxing Layer 2 solutions, and focusing on Layer 1 development. These bold steps are designed to strengthen the token position in the crypto market and ensure long-term growth.
Sun’s strategy aims to not only optimize ETH supply but also create a deflationary system to build market confidence and attract further investments. His plan comes as the token market dynamics continue to evolve.
Justin Sun’s Bold Plan to Boost ETH Price
On January 22, Justin Sun shared his plan on X to push Ethereum price to $10,000. The Tron founder proposes ceasing Ethereum Foundation (EF) sales of ETH for the next three years. By halting the sale, Sun believes supply will remain stable, supporting a deflationary market model.
Additionally, Sun plans to leverage AAVE lending, staking yields, and stablecoin borrowing to cover operational costs, ensuring long-term sustainability. His vision includes restructuring the ecosystem and creating a more efficient system to fuel ETH’s price growth.
Justin Sun’s Vision for Ethereum and Layer 2 Solutions
Justin Sun has been vocal about his plan and making waves within the crypto community. He also expressed admiration for newly elected US President Donald Trump, highlighting the potential for crypto-friendly policies. Sun’s proposed tax on Layer 2 solutions is a key strategy, aiming to generate at least $5 billion annually.
President @realDonaldTrump consistently delivers remarkable results every day. We should strive to keep up and learn from his ability to achieve outcomes. 🫶
— H.E. Justin Sun 🍌 (@justinsuntron) January 22, 2025
All collected taxes will be used to repurchase and burn ETH, helping to drive the token’s deflationary nature. Tron founder plans to focus on bolstering Ethereum’s core development, ensuring its long-term scalability, and reinforcing its value proposition.
ETH Price Context and Market Update
Ethereum price has remained steady, trading within a range of $3,265 to $3,366 in the past 24 hours. Its 24-hour trading volume was $26 billion, reflecting a slump of 36%. Notably, Ether Futures Open Interest stayed near the flatline today.
However, despite the fluctuation, ETH remains a focal point for large investors. Recent Coingape reports indicate that whales have accumulated over $1 billion in ETH over the past few days.
Adding to the market dynamics, Tron founder Justin Sun has deposited a total of 227,000 ETH to the crypto exchange HTX over the past few months. This move by Sun, in conjunction with his ambitious plans for Ethereum, could further influence ETH’s price trajectory.
Coingape Staff
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Against the backdrop of a broader crypto market recovery on Wednesday, AI Coins like FET, RENDER, and TAO have stolen the spotlight by witnessing a considerable pump. Notably, these tokens are surging amid broader AI-related developments such as Donald Trump’s ‘Stargate’ formation and tech giants injecting massive investments in the industry.
As a result, the abovementioned AI coins witnessed remarkable intraday price gains worth 6%-12%. Here’s a collective overview of the potential factors driving a frenzy across the AI crypto industry.
AI Coins FET, RENDER, & Others Bullish As Donald Trump Announces ‘Stargate’ Formation
Notably, the 47th president of the U.S., Donald Trump, has unveiled plans to offer massive support to the broader artificial intelligence sector soon after his inauguration. Addressing the nation’s masses, Trump recently announced the formation of ‘Stargate,’ the largest AI infrastructure project in American history.
Intriguingly, this AI project is set to invest a staggering $500 billion into the U.S. economy and curate over 100,000 American jobs. Trump revealed that OpenAI, Softbank, and Oracle came together to announce the formation of this monumental feat. Overall, with the developmental saga weighing in, top AI Coins like FET and others also appear to be bullish as the broader sector’s outlook glimmers with hope for further growth.
Google Chimes In With Massive Investment In AI
Meanwhile, the tech behemoth Google has also revealed plans to invest heavily in the sector. According to a recent FT report, the tech giant is investing more than $1 billion in Anthropic, a prominent OpenAI rival.
Meanwhile, people familiar with the matter have also revealed that Google is set to invest about $2 billion in Anthropic. Further, Lightspeed Venture Partners emerged as another key backer for the OpenAI rival as it is expected to inject $2 billion into the entity. Overall, these massive investments in the AI sector have further glimmered hope for tokens FET, RENDER, and TAO, among many others.
AI Coins Rise In Sync With Broader Market Recovery
At the time of reporting, FET price witnessed gains worth 11% intraday and is currently trading at $1.30. The coin’s 24-hour low and high were $1.16 and $1.34, respectively. Further, RENDER price witnessed a 7% uptick in value and is currently resting at $7.09. The coin’s 24-hour low and high were $6.60 and $7.36, respectively.
Even TAO price pumped 6% intraday to reach $418.21. The coin’s 24-hour low and high were $391.79 and $433.29, respectively. As mentioned above, the AI tokens appear to be leveraging a positive market sentiment across the AI sector, primarily attributable to the massive investments. Further, it’s also worth mentioning that the broader crypto market recovered today, aligning with the upswing in the price of AI coins.
Coingape Staff
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
VTHO price has skyrocketed 300% after Binance announced its support for VeThor Token. Simultaneously, the token’s trading volume also surged by an astonishing 86,000%, reaching $3 billion. This massive rally reflects the strong influence of the top crypto exchanges in the market and how the listing or any other positive developments impact the sentiments.
Notably, VTHO token is used as gas within the VeChainThor ecosystem, further driving the market’s enthusiasm.
VTHO Price Surge After Binance Announces Listing of Perpetual Contract
On January 22, Binance listing announcement showed that the exchange plans to list VTHOUSDT perpetual contract on its futures platform, offering a maximum leverage of 75x. This new trading option has caught the attention of traders, contributing to a massive spike in VTHO’s trading volume.
Meanwhile, VTHO is the secondary token in the VeChainThor ecosystem, primarily used as the gas for transactions within the network. This listing expands Binance’s support for the VeChainThor blockchain, enabling users to trade VTHO with increased leverage. The contract’s capped funding rate is set at +2.00% / -2.00%, with funding fees settled every four hours, giving traders more flexibility.
Notably, the 75x leverage allows traders to maximize their exposure to VTHO price movements, further intensifying the market’s focus on the VeThor Token. The move by the top crypto exchange to offer such high leverage and favorable funding rates is a clear indication of its confidence in VTHO’s potential.
Binance’s Multi-Assets Mode and Trading Rules
Binance’s Multi-Assets Mode allows users to trade the VeThor token perpetual contract across multiple margin assets. This feature enables traders to use other cryptocurrencies, such as BTC, as collateral when trading VTHO contracts.
Multi-Assets Mode supports greater flexibility, giving users the ability to diversify their margin options for more efficient trading strategies. Recently, Binance expanded support for TRUMP and several other tokens, fueling optimism about future price movements.
The rules for Multi-Assets Mode include applicable haircuts on collateral, ensuring the safety of user assets. It is particularly useful for those who hold large amounts of various cryptocurrencies and wish to leverage them for high-leverage trading opportunities.
VeChain and VTHO Price Surge
VeChain (VET), the blockchain powering VTHO, has experienced notable growth, rising by 11% in the past 24 hours. VET price now trades at $0.05, and its market cap has reached $4.06 billion. This rise is attributed to VeChain’s increasing adoption and its partnerships with major corporations, including Walmart China and BMW.
VTHO price today jumped 320% and exchanged hands at $0.0087, indicating a growing interest in the VeChainThor ecosystem. With a market cap of $744 million, VTHO has seen an 86,000% increase in trading volume, reaching $3.11 billion. As the blockchain industry continues to innovate, VeChain’s supply chain solutions and VTHO’s integral role are poised for continued success.
Coingape Staff
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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