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Uniswap Labs made a significant acquisition. It announced the purchase of Crypto: The Game (CTG), one of the leading blockchain-based games in the crypto world. The announcement led to a 6% increase in the three-hour price chart. Uniswap Labs Operations Director Mary-Catherine Lader commented on the matter. She emphasized the proposal to combine CTG’s notable on-chain experiences with Uniswap’s infrastructure.
Uniswap’s Historic Move
Uniswap Labs made a strategic move by acquiring CTG. This move positively impacted UNI.
Mary-Catherine Lader from Uniswap made the following statement:
We saw the porosity created by CTG; the challenge is to bring more humanity and fun to these on-chain experiences.
This acquisition was stated to be a business agreement and collaboration for the development of games reflecting the crypto world. Another person involved from Uniswap, CTG’s founders Dylan Abruscato, Tyler Cagle, and Bryan Lee, will find their place in this project.
This team will look for new development activities besides finding a new way of crypto interactions in the third season starting on the CTG side. An important statement from the company was about the game’s future. It emphasized the decision not to market the Uniswap wallet or an exchange to maintain the game’s originality.
How Much Is UNI Now?
Looking at UNI’s price chart, the news positively affected the market. UNI price rose 6% to $10.441 after the news. The RSI value indicating increased buying also emerged with the news.
The Relative Strength Index (RSI) approached the overbought region of 70 with a value of 64.60. This suggested that UNI might be overvalued and could potentially experience a correction.
Meanwhile, during the price increase, the Moving Average Convergence Divergence (MACD) indicator signaled an uptrend. Following the elapsed time, it is thought that ideas based on the RSI indicator might be confirmed for now.
The UNI price fell to $10.32 after the rise but still showed an increase of over 5%. Additionally, the market cap exceeded $6 billion, while the 24-hour trading volume reached $289 million after a 67.61% increase.
