Here’s Why BugsCoin (BGSC) Soared Above 37% Today

BugsCoin, a Web3 education project built on the BNB Chain, has emerged as one of the top gainers on CoinGecko. At the time of writing, the project’s native cryptocurrency, BGSC, traded at $0.004479, up over 37% from its price 24 hours ago.

The price pump followed Gate Ventures, the venture capital arm of the popular crypto exchange Gate (formerly Gate.io), acquiring ADEN. This is a decentralized perpetual trading platform founded by INBUM, the same founder behind BugsCoin. As part of the integration, BugsCoin “will be integrated into Gate Layer’s reward and incentive mechanisms.”

Gate Ventures Acquires ADEN

Although the acquisition amount was undisclosed, the announcement explained that ADEN will operate independently on Gate Layer, a layer-2 built on the Optimism OP Stack for the Gate ecosystem. The debut is expected to occur on November 3rd.

The crypto perpetual trading platform will also expand its tentacles into real-world assets (RWAs) via the United States stock derivatives market.

One of ADEN’s top features is its competitive trading fees. Its maker/taker fee is 0%/0.009%, which is five times lower than that of one of the leading perps trading platforms, Hyperliquid. According to DefiLlama, ADEN ranks as the 14th-largest perps trading project, with a traded volume of $483 million.

Notably, Gate Ventures’ decision to acquire ADEN comes when various crypto projects are joining the hype around perpetual futures trading. Since Hyperliquid’s explosion earlier this year, various projects have emerged to compete for market share. These include Aster and Lighter. Even Web wallet providers like MetaMask and Phantom have joined the bandwagon.

Last week, the popular Solana-based memecoin launchpad Pump.fun acquired Padre, a decentralized perp trading platform. This allowed it to expand its operations into the booming trading sector.

Acquisition Spree in the Crypto Market

In recent months, the crypto market has seen a surge in acquisitions as crypto projects and companies acquire other firms to expand their businesses.

Examples of such takeovers include Coinbase’s recent $375 million acquisition of Echo, an on-chain fundraising project. This marked the crypto exchange’s eighth acquisition this year. Last week, the crypto prime brokerage firm FalconX entered an agreement to acquire 21Shares, a popular issuer of crypto-based exchange-traded funds (ETFs).

Earlier this month, the blockchain payment platform Ripple spent $1 billion in acquiring GTreasury. The acquisition enables Ripple to explore the corporate treasury payments market.

The ongoing acquisition spree is not entirely surprising, as the crypto market is currently bullish and many crypto-based institutions have money to spend. The global crypto market capitalization is presently at $3.86 trillion. Recall that it saw a peak valuation above $4.3 trillion earlier this month.

This increase has rubbed off on the revenue metrics of most crypto projects, thereby fueling their acquisition appetite.

BugsCoin’s Ecosystem Benefits

The latest acquisition news announcement explained that “Gate Ventures will serve as an accelerator for the Bugscoin ecosystem.” This entails that Bugscoin users will benefit from the move. This likely aided BGSC’s price surge above 37% at press time.

Meanwhile, the announcement added that referral programs for key opinion leaders (KOLs) and average users will come in the future. This would further benefit the BugsCoin ecosystem.

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