Weekly Crypto Dispatch

MicroStrategy (MSTR) on Wednesday morning revealed it purchased 480 bitcoins for about $10 million – an average price of $20,817 per coin – from May 3 to June 28. The new additions bring company holdings to 129,699 bitcoins (BTC) acquired for almost $4 Billion, or an average cost of $30,664 each.

At the time of publication, BTC was trading on Aximetria at $19,146.00.

Decentralized exchange (DEX) Uniswap has overtaken its host blockchain Ethereum in terms of fees paid over a 7-day rolling average. The surge appears part of a recent spate of high demand for DeFi amid the current bear market.

• According to data from Crypto Fees, traders on Uniswap accounted for an average daily total of $4.87 Million worth of fees between June 15 and June 21, overtaking the average fees from Ethereum users, which accounted for $4.58 Million.
  
  
• Uniswap's most advanced v3 protocol accounted for the lion's share of the total fees with $4.4 million, while the v2 variant also contributed a notable $336,556.
  

Earlier this week, Grayscale Investments launched a legal challenge against the United States Securities and Exchange Commission (SEC) after being denied its application to convert Grayscale Bitcoin Trust (GBTC) into a spot-based Bitcoin (BTC) exchange-traded fund (ETF).

According to a filing from the securities regulator, the application was not supported "to protect investors and the public interest" because the proposal failed to demonstrate how it will prevent fraudulent activities.

KPMG, one of the Big Four accounting firms, revealed the launch of a metaverse collaboration hub to support its employees and clients pursue growth opportunities in the digital era.

According to a Fortune report, the hub will focus on education, collaboration, training, events, and workshops with Cliff Justice, KPMG U.S. leader of enterprise innovation. The company is making a cumulative $30 million investment this year in Web3 experiences, with the metaverse hub as the "signature piece."

Coinbase's professional trading platform, Coinbase Pro, will be closed soon as the company revealed plans to restructure its services to consolidate them into one platform.

Coinbase Pro's services will migrate to Advanced Trade, Coinbase's new trading section accessible via the exchange's website. It was originally launched in March 2022 to provide traders with in-depth analysis.

The migration is aimed to simplify the trading process on Coinbase by allowing traders to access advanced trading tools and use general Coinbase features in one place.

On June 23, Binance announced the partnership with Cristiano Ronaldo that involves creating several series of NFT collections with Ronaldo. These will be sold on the Binance NFT platform exclusively, with the first collection coming out later this year, featuring designs created by Ronaldo himself.

Back in March, Ronaldo was awarded crypto tokens for his achievements in the sport. The football star was given JUV tokens, the official fan token of Juventus F.C., for every senior career goal that he scored.

Decentralized exchange (DEX) Uniswap operates on the Ethereum blockchain. It allows users to trade crypto without an intermediary anywhere in the world. The token, UNI, allows users to vote on significant protocol changes and has a market cap of more than $3.5 billion, according to CoinMarketCap.

Uniswap was launched in 2018, making it one of the first decentralized finance (or DeFi) applications to gain significant traction on Ethereum. Since then, several other decentralized exchanges have launched (including Curve and SushiSwap), but Uniswap is currently the most popular by a significant margin.

In June 2022, Uniswap hired a former New York Stock Exchange president, Stacey Cunningham, as an Advisor to Uniswap Labs. They also recently acquired NFT marketplace aggregator Genie in a push to support trading of NFTS.