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.

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Maxwell is a crypto-economic analyst and Blockchain enthusiast, passionate about helping people understand the potential of decentralized technology. I write extensively on topics such as blockchain, cryptocurrency, tokens, and more for many publications. My goal is to spread knowledge about this revolutionary technology and its implications for economic freedom and social good.

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.