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The chart shows combined market value of top two stablecoins, USDT and USDC. (TradingView/CoinDesk)
NFT Gaming

BTC Treads Cautiously as Altcoins IMX, NEAR and HASH Show Signs of Froth

by admin September 19, 2025



The crypto market continues to trade cautiously as it seeks fresh catalysts following the Fed rate cut. BTC has settled into a tight range, with $118,000 serving as resistance for the bulls to overcome.

Open interest in bitcoin futures has jumped to 149K BTC, ending a two-month downtrend. It indicates renewed capital inflows into futures, possibly on the bearish side, as the three-month annualized premium remains depressed below 10%.

Smaller tokens continue to gain ground, raising hopes for a full-blown altcoin season. In the past 24 hours, IMX, NEAR and HASH have gained over 10%, the only three coins out of the top 100 to enter double figures.

Timothy Misir, head of research, BRN, called traders to keep position sizes prudent.

“Institutional flows and large accumulation address activity support the bullish case; record options open interest and dense supply near $118,000 create tangible pinch points. Trade the market as it is: keep position sizes prudent, manage leverage tightly, and use $115,200 as the primary tape guardrail while watching $118,000 for a clear breakout signal,” Misir said in an email.

Derivatives Positioning

by Omkar Godbole

  • AVAX is the only top 20 cryptocurrency to boast an increase in perpetual futures open interest over the past 24 hours. The rest of the coins have seen flat to negative OI, a sign of capital outflows.
  • According to data source Glassnode, 5,000 BTC in long positions is vulnerable to liquidation if the price drops below $117,000. There is also a build up of short positions at higher price levels, representing a sell-on-rise mentality.
  • Most majors, excluding LINK, DOT and TRX, have seen net selling in futures, as evidenced by their negative 24-hour cumulative volume deltas. This indicates the possibility of a sharp drop in altcoins later today alongside a growing risk aversion on Wall Street.
  • On the CME, bitcoin futures OI has bounded to 149K BTC, ending a two-month downtrend. Perhaps, fresh shorts are coming in, as the annualized three-month premium remains below 10% and looks to be trending south. Ether’s futures OI has risen back above 2 million ETH.
  • On Deribit, traders continue to chase put options tied to BTC in a sign of lingering downside concerns. Flows over OTC network Paradigm featured calendar spreads and put writing.

Token Talk

By Oliver Knight

  • Aster, the native token of its namesake decentralized exchange, rose 33% in the past 24 hours to contribute a 650% gain since it was issued earlier this week.
  • The token was touted on X by Binance founder Changpeng Zhao, who claims the token is a direct competitor to HyperLiquid’s HYPE.
  • Nearly 330,000 wallets used Aster ahead of a series of exchange listings for the token, with daily trading volume hitting $420 million.
  • The platform’s introduction hasn’t been without controversy, one of the Aster team members had to say “funds are safe” on Discord in response to concerns about whether funds could be withdrawn.
  • It is also claimed that Aster is just a rebrand of Apollox, a decentralized perpetuals exchange that has been around for years.
  • Nonetheless, the platform has proven attractive in the past 24 hours and is considered by some traders as a viable alternative to HyperLiquid, whose token has a market cap of $18.7 billion compared with Aster’s $1 billion.



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September 19, 2025 0 comments
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BTC Treads Water, Gold Extends Gain as U.S. Jobs Data Looms: Crypto Daybook Americas
Crypto Trends

BTC Treads Water, Gold Extends Gain as U.S. Jobs Data Looms: Crypto Daybook Americas

by admin September 3, 2025



By Francisco Rodrigues (All times ET unless indicated otherwise)

Bitcoin BTC$111,487.44 rose just 0.6% in the last 24 hours, while the wider market as measured by the CoinDesk 20 (CD20) Index added 0.4%. The gain is overshadowed by gold’s increase and a major government bond sell-off.

The precious metal broke through $3,500 per ounce for the first time on Wednesday, helping the tokenized gold market to top $2.5 billion in value as growing bets see the Federal Reserve cutting rates this month. Gold’s advance comes as investors are wary of swelling government debt, prompting a sell-off in long-dated government bonds.

The yield on Japan’s 30-year government bond rose to a record 3.28% following similar moves in the U.S. and U.K. The U.S. 30-year Treasury yield neared 5%, while British gilts reached levels not seen since 1998, at 5.7%.

The turmoil hasn’t added fuel to the crypto market, whose price action remains muted. Deribit’s bitcoin volatility index (DVOL) is now at 38.1, its lowest level since late 2023, while capital is seemingly rotating into ether (ETH).

While spot bitcoin ETFs saw $751 million in net outflows last month, spot ether ETFs brought in a net $3.87 billion. That rotation is also being seen on-chain.

Meanwhile, a joint statement from the SEC and CFTC clarified rules for compliant spot crypto trading in the agencies’ latest effort to clear a way forward for crypto in the U.S.

The statement failed to jolt the crypto market, seemingly as investors await Friday’s U.S. jobs report. A soft reading could nudge the Federal Reserve closer to lowering rates, which would boost the market and other risk assets.

A hotter-than-expected figure, however, could damp sentiment. September has historically been a negative month for the sector, with bitcoin recording a drop of 3.29% on average for the month according to CoinGlass data. Stay alert!

What to Watch

  • Crypto
    • Sept. 3: First day of regular-hours trading on Nasdaq for American Bitcoin (ABTC). The company, backed by Eric Trump and Donald Trump Jr., was formed through a reverse merger with Gryphon Digital Mining and listed after market close on Sept. 2.
    • Sept. 3, 10:15 a.m.: Tellor (TRB), a decentralized oracle network that operates as an Ethereum layer-2 blockchain, will upgrade its mainnet to version 5.1.1. The upgrade improves network performance and node operation.
    • Sept. 4: Polygon will switch its mainnet token to POL from MATIC. Holders of MATIC on Ethereum, Polygon zkEVM or centralized exchanges may need to take action.
    • Sept. 10, 9:15 a.m.: Comptroller of the Currency Jonathan V. Gould will talk about digital assets at the CoinDesk: Policy & Regulation Conference in Washington.
  • Macro
    • Sept. 3, 8 a.m.: Brazil’s Institute of Geography and Statistics (IBGE) releases July industrial production data.
      • Industrial Production MoM Est. -0.3% vs. Prev. 0.1%
      • Industrial Production YoY Est. 0.2% vs. Prev. -1.3%
    • Sept. 3, 9 a.m.: S&P Global releases August Brazil data on manufacturing and services activity.
      • Composite PMI Prev. 46.6
      • Services PMI Prev. 46.3
    • Sept. 3, 10 a.m.: The U.S. Bureau of Labor Statistics releases July labor market data (the JOLTS report).
      • Job Openings Est. 7.4M vs. Prev. 7.437M
      • Job Quits Prev. 3.142M
    • Sept. 4, 8:15 a.m.: Automatic Data Processing (ADP) releases August U.S. private-sector employment data.
      • Employment Change Est. 68K vs. Prev. 104K
    • Sept. 4, 9:30 a.m.: S&P Global releases August Canada data on manufacturing and services activity.
      • Composite PMI Prev. 48.7
      • Services PMI Prev. 49.3
    • Sept. 4, 9:45 a.m.: S&P Global releases (final) August U.S. data on manufacturing and services activity.
      • Composite PMI Est. 55.4 vs. Prev. 55.1
      • Services PMI Est. 55.4 vs. Prev. 55.7
    • Sept. 4, 10 a.m.: The Institute for Supply Management (ISM) releases August U.S. services sector data.
      • Services PMI Est. Est. 51 vs. Prev. 50.1
    • Sept. 4, 1 p.m.: Uruguay’s National Institute of Statistics releases August inflation data.
      • Inflation Rate YoY Prev. 4.53%
    • Sept. 4, 3 p.m.: Colombia’s National Administrative Department of Statistics (DANE) releases August producer price inflation data.
  • Earnings (Estimates based on FactSet data)
    • Sept. 9: GameStop (GME), post-market

Token Events

  • Governance votes & calls
    • Arbitrum DAO is voting on upgrading Arbitrum One and Nova to ArbOS 50 Dia, adding support for Ethereum’s Fusaka fork, new EIPs, bug fixes and a native mint/burn feature (for Orbit chains only). Voting ends Sept. 4.
    • Uniswap DAO is voting on deploying Uniswap v3 on Ronin with $1M in RON and $500K in UNI incentives to make it the chain’s primary decentralized exchange. Voting ends Sept. 6.
    • Lido DAO is voting on a proposal to migrate Nethermind’s ~7,000 Ethereum validators to infrastructure operated by Twinstake, a staking provider co-founded by Nethermind. Voting ends Sept. 8.
    • Sept. 2, 6 a.m.: Bybit and Centrifuge to host an ask me anything (AMA) session on X spaces.
    • Sept. 3: Stellar XLM$0.3649 to host vote on Protocol 23 mainnet upgrade.
    • Sept. 3, 10 am: Lido to host a Poolside Community Call.
    • Sept. 3, 10 a.m.: Zebec Network ZBCN$0.004202 to host spaces event on blockchain integrations.
    • Sept. 3, 12:30 p.m.: Aptos APT$4.3209 to host hangout on ecosystem updates.
    • Sept. 4, 10 a.m.: OlympusOHM$131.29 to host community call.
  • Unlocks
    • Sept. 5: Immutable (IMX) to unlock 1.27% of its circulating supply worth $13.26 million.
    • Sept. 11: Aptos APT$4.3209 to unlock 2.2% of its circulating supply worth $48.18 million.
    • Sept. 15: Starknet (STRK) to unlock 5.98% of its circulating supply worth $16.39 million.
    • Sept. 15: Sei SEI$0.2886 to unlock 1.18% of its circulating supply worth $16 million.
    • Sept. 16: Arbitrum ARB$0.5017 to unlock 2.03% of its circulating supply worth $47.15 million.
  • Token Launches
    • Sept. 3: Moonchain (MCH) to be listed on Binance Alpha, MEXC, Gate.io and others.

Conferences

The CoinDesk Policy & Regulation Conference (formerly known as State of Crypto) is a one-day boutique event held in Washington on Sept. 10 that allows general counsels, compliance officers and regulatory executives to meet with public officials responsible for crypto legislation and regulatory oversight. Space is limited. Use code CDB15 for 15% off your registration.

Token Talk

By Oliver Knight

  • Bitcoin BTC$111,487.44 dominance, a key metric when assessing whether the crypto market is in “altcoin season” has ticked down another notch to around 58%, having been above 61% just 30 days ago.
  • The drop-off demonstrates a change in trader behavior: Typically altcoins perform poorly when BTC enters a downtrend, this time, however, many have held their value while some have outperformed the market’s largest asset.
  • Bitcoin is down by 2.91% in the past 30 days while the likes of ether (ETH) and solana SOL$210.66 are up by 21% and 27.5%, respectively.
  • While the gains have been driven by the adoption of several altcoins in corporate treasuries, they can also be attributed to a recalibration of the entire market.
  • During BTC’s rise to a $124,000 record high last month, the narrative was solely focused on bitcoin and it’s perceived correlation with the well-performing tech sector in equities.
  • It’s worth noting that in previous cycles bitcoin dominance slumped all the way down to 39%, indicating that the altcoin resurgence still has some way to go.
  • However, as liquidity flowed into BTC, several altcoins fell to record lows against bitcoin, leading to a number being “oversold” on technical indicators like relative strength index (RSI).

Derivatives Positioning

  • The total open interest across all perpetual instruments increased overnight to $114 billion, data from Laevitas show.
  • A liquidations heatmap for the BTC-USDT pair on Binance shows that bitcoin is trading between two significant liquidation clusters. Above the current price, a $90 million cluster of liquidations sits around the $112,200 mark. To the downside, the largest cluster is valued at $76.6 million, located around $110,000.
  • According to Deribit options data, the 24-hour BTC put-call volume is 26.4K contracts, with calls accounting for 51.6% of the total. The contract with the highest volume is the $108K strike price put expiring Sept. 26.
  • That’s followed by the call at a strike price of $114K expiring on the same day.
  • The funding rate heatmap on Coinglass remains positive for most assets, indicating a general bullish sentiment. The one exception is TRX, which has a negative funding rate, reflecting a -10.2% APR.

Market Movements

  • BTC is down 0.1% from 4 p.m. ET Tuesday at $111,323.58 (24hrs: +0.92%)
  • ETH is up 0.82% at $4,348.94 (24hrs: -0.89%)
  • CoinDesk 20 is up 0.59% at 4,046.65(24hrs: +1.01%)
  • It’s worth noting that in previous cycles bitcoin dominance slumped all the way down to 39%, indicating that the altcoin resurgence still has some way to go.

Derivatives Positioning

  • DXY is down 0.15% at 98.25
  • Gold futures are up 0.36% at $3,605.20
  • Silver futures are unchanged at $41.62
  • Nikkei 225 closed down 0.88% at 41,938.89
  • Hang Seng closed down 0.6% at 25,343.43
  • FTSE is up 0.43% at 9,155.78
  • Euro Stoxx 50 is up 0.84% at 5,335.46
  • DJIA closed on Tuesday down 0.55% at 45,295.81
  • S&P 500 closed down 0.69% at 6,415.54
  • Nasdaq Composite closed down 0.82% at 21,279.63
  • S&P/TSX Composite closed up 0.18% at 28,615.62
  • S&P 40 Latin America closed down 0.32% at 2,760.02
  • U.S. 10-Year Treasury rate is up 0.2 bps at 4.279%
  • E-mini S&P 500 futures are up 0.46% at 6,454.75
  • E-mini Nasdaq-100 futures are up 0.68% at 23,433.75
  • E-mini Dow Jones Industrial Average Index are unchanged at 45,352.00

Bitcoin Stats

  • BTC Dominance: 58.59% (+0.04%)
  • Ether-bitcoin ratio: 0.0389 (0.01%)
  • Hashrate (seven-day moving average): 1,001 EH/s
  • Hashprice (spot): $54.39
  • Total fees: 4.97 BTC / $548,282
  • CME Futures Open Interest: 133,410 BTC
  • BTC priced in gold: 31.4 oz.
  • BTC vs gold market cap: 8.85%

Technical Analysis

  • PUMP has been one of the strongest tokens in recent days, backed by strong fundamentals such as its buyback program and the recently announced Project Ascend — a series of updates that focuses on growing the Pump.fun ecosystem and infrastructure.
  • After breaking the bearish trendline last week, PUMP has reclaimed the 20-day exponential moving average.
  • Bulls are looking for the token to continue this upward trend and flip the $0.004 level, which has proven to be a tough resistance point over the last month.
  • A successful breakout above this price would signal strong bullish momentum.

Crypto Equities

  • Coinbase Global (COIN): closed on Tuesday at $303.56 (-0.32%), +0.74% at $305.80 in pre-market
  • Circle (CRCL): closed at $120.14 (-8.97%), +2.22% at $122.81
  • Galaxy Digital (GLXY): closed at $24.16 (+2.85%), +0.99% at $24.40
  • Bullish (BLSH): closed at $62.03 (+5.08%), -0.55% at $61.69
  • MARA Holdings (MARA): closed at $16.06 (+0.5%), +0.31% at $16.11
  • Riot Platforms (RIOT): closed at $14.09 (+2.4%), +0.5% at $14.16
  • Core Scientific (CORZ): closed at $14 (-2.44%), unchanged in pre-market
  • CleanSpark (CLSK): closed at $9.64 (+1.8%), +0.1% at $9.65
  • CoinShares Valkyrie Bitcoin Miners ETF (WGMI): closed at $31.64 (+3.33%), +2.84% at $32.54
  • Exodus Movement (EXOD): closed at $24.79 (-1.71%), -1.21% at $24.49

Crypto Treasury Companies

  • Strategy (MSTR): closed at $341.62 (+2.16%), +0.66% at $343.88
  • Semler Scientific (SMLR): closed at $29.37 (-0.91%)
  • SharpLink Gaming (SBET): closed at $16.98 (-4.71%), +0.94% at $17.14
  • Upexi (UPXI): closed at $6.89 (-4.7%), +3.48% at $7.13
  • Mei Pharma (MEIP): closed at $4.85 (-0.21%), +1.44% at $4.92

ETF Flows

Spot BTC ETFs

  • Daily net flows: $332.8 million
  • Cumulative net flows: $54.55 billion
  • Total BTC holdings ~1.29 million

Spot ETH ETFs

  • Daily net flows: -$135.3 million
  • Cumulative net flows: $13.4 billion
  • Total ETH holdings ~6.56 million

Source: Farside Investors

Chart of the Day

  • While BTC futures volumes on the CME exchange fell 17% to $148 billion in August, the ETH futures volume surged by 48% to $123 billion, an all-time high.
  • The trading volume of SOL futures and XRP futures also surged to records, rising 41% and 51% to $8.60 billion and $7.32 billion, respectively.
  • The figures highlight the heightened institutional interest in altcoins in recent weeks.

While You Were Sleeping

In the Ether



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September 3, 2025 0 comments
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Hell is Us review - nightmarish adventure treads a fine line between cryptic and tedious
Game Reviews

Hell is Us review – nightmarish adventure treads a fine line between cryptic and tedious

by admin September 2, 2025


Hell is Us is an absorbing, nightmarish meditation on the horror of war, but divisive design choices prove tedious.

Hell is Us review

  • Developer: Rogue Factor
  • Publisher: Nacon
  • Platform: Played on PS5
  • Availability: Out on 1st September on PC (Steam), Xbox Series X/S, and PS5

Strange synths rumble and whir in an electronic hum. Wind chimes tinkle. An unearthly screech in the distance and the bass escalates in intensity. Rain tickles the DualSense. What exactly is out there?

Hell is Us is a masterpiece in mood, and much of that comes down to its score – or, more of a soundscape, really – from composer Stephane Primeau. It lends the game such a heady, oppressive atmosphere. It comes as no surprise, since Primeau was previously in a metal band; the music is dark, haunting, unsettling. I recommend playing with headphones.

That sonic tone is fitting for an adventure game exploring the cyclical nature of war. Hell is Us, as the title suggests, is a nightmare. Demonic entities shift across muddy trenches and urban streets licked by flames; tanks lay abandoned half-submerged in marshy wasteland; and innocent (or sometimes not so innocent) citizens are caught in the crossfire of a country wracked by civil war and supernatural forces.

Yet, as a result of bold design decisions by developer Rogue Factor, Hell is Us is at times a mapless nightmare of abstruse puzzles, confusing menus and shallow combat that, collectively, is hostile to play. Hostility isn’t a bad thing – especially for a game depicting such a combative, malicious world – but there’s a fine line between cryptic and tedious that the studio doesn’t always balance. There are shades of sci-fi Zelda and classic survival horror in Hell is Us: dungeons to explore, idiosyncratic puzzles to solve, and centuries-old mysteries to unravel. Coupled with that oppressive atmosphere, it’s a welcome experience that has all the makings of a cult classic. But I believe it may prove too divisive for some.

Hell is Us – Story Trailer | PS5 GamesWatch on YouTube

After a story-in-a-story introduction, you’re dropped into the country of Hadea, a world heavily influenced by the 90s through character costumes, the low-fi computer vibes of its menus, and a ravaged landscape seemingly inspired by wars in Bosnia and Kosovo, as well as more recent conflicts in Ukraine and Gaza. Hadea is split between two religions – the Sabinians and the Palomists – that have caused suffering for centuries, but more recently ghostly creatures have appeared in the wake of civil war. Protagonist Remi is on a simple mission to infiltrate Hadea in search of his family, but is soon sucked into the country’s enigmatic past.

In short, Hell is Us is a meditation on the horrors and futility of war, and how history inevitably repeats itself. The use of imagery from modern – and very current – warfare lends the game shocking relevance, in addition to its sombre, disturbing tone. On his journey, Remi meets characters on all sides – religious zealots, soldiers, desperate refugees, innocent bystanders telling stories of regular people committing horrendous feats – but never takes a stance. There are good and bad people everywhere and, in this brutal war, no winners or losers: everyone suffers, everyone deserves assistance. Hell is – obviously enough – humanity, but more specifically the media and politicians with their propaganda and “constant campaign of dehumanising the other side”, as one character puts it. And when humanity has sinned and hatred of others is an embedded sickness, this war-torn hell is inescapable.

You’ll meet some interesting and unsavoury characters on all sides and there’s a smart conversation system that slowly unlocks new responses | Image credit: Rogue Factor / Eurogamer

Through detailed character conversations and well-written clippings and recordings, Remi pieces together the storied world of Hadea that thoroughly intrigues. The issue with the plot, though, is Remi himself. Besides searching for his family, he prescribes to the “boring white guy in a jacket” school of protagonists. He barely speaks, despite being voiced by Elias Toufexis of Deus Ex fame, and rarely comments on his discoveries. He is a thoroughly uninteresting character, exploring an interesting world. There’s potential to really interrogate the themes of the narrative, but Remi is little more than an avatar with whom to collect keys and hit things.

I’m being purposefully facetious here, as gameplay in Hell is Us is riveting and progress organic. Rogue Factor has chosen not to include signposting and not to provide a map, meaning players must use visual and audio clues to explore each individual zone, listen carefully to conversations, and sniff out potential leads to reveal new areas and progress the story. I love this! From the off I was utterly absorbed in Hadea, with this design choice forcing me to play in a far more attentive way than usual, focused deeply on each detail, and appreciating more thoroughly its dedication to mood. For the most part, each zone is designed to draw attention in a manageable way, though it can feel overwhelming.

The lack of map becomes more of an issue during dungeons. These take the form of underground crypts, ancient temples, scientific facilities, and more, each with their own distinct visual tone and colour palette. They’re often labyrinthine and filled with locked pathways and bizarre puzzles to solve, and mostly they’re satisfying to explore. Imagine for a second, though, navigating through a Zelda dungeon or the Spencer Mansion from Resident Evil with all its odd keys and locks and repetitive hallways, but not having a map to refer to and remind yourself what you found and where. That’s what playing Hell is Us feels like, and while I welcomed the cognitive challenge, I did sometimes feel frustrated – as I suspect many players will.

This is all the help you get on side quests in the menu | Image credit: Rogue Factor / Eurogamer

The poor UI and menu, however, are more unforgivable. Simply put, Hell is Us demands players hold far too much information in their heads. From environment layouts, to details in notes, to what the hell is this random locker key I’ve just picked up and where exactly am I meant to use it? The UI does a limited job of listing your findings unfiltered, and I wasted time scrolling through bits of evidence to find a hint of a code needed, or some other miniscule detail. Take my advice: play with a pen and paper, it’ll be much less infuriating.

Too often, Rogue Factor’s decision to withhold information results in frustration and tedium. Take side quests, or Good Deeds as they’re known. These commence during specific conversations, or sometimes by collecting an item with little context. Then, they’re listed deep in a menu with a blurred image and a quest title and nothing else. Unlike main missions, which are smartly organised in branching mind maps and found evidence, Good Deeds are presented minimally. What’s worse, some are failable if not completed in certain, unexplained, time periods – I managed to fail every failable quest in my playthrough by repeatedly being in the wrong place at the wrong time. I appreciate the developers likely want players to think carefully on their actions and share clues with others, but the tedious nature of these quests had the opposite effect. I simply stopped caring. Still, when I randomly entered an area only to find I’d failed a mission with no reasoning, it remained disheartening.

The dungeons are a real highlight of the game | Image credit: Rogue Factor / Eurogamer

Then there are Timeloops – shimmering domes found in each zone of the world. These are literal embodiments of the narrative’s core themes, containing ghostly apparitions of traumatic events that endlessly repeat. They’re a clever marriage of plot and gameplay, and closing them is a key part of the game. You need to kill many enemies hidden in each zone, before entering the Timeloop to close it using a specific prism item. Thing is, there are three different types of prism item, but you’ll only know which is needed once you actually need it. And where will you find these prisms? No idea – they could be anywhere in the world, in chests or elsewhere. While I’m at it, why can’t I use an item from the inventory system but instead have to laboriously equip it to my loadout first?

Here, the game feels less cleverly cryptic, more insufficiently optimised. Many of these tasks are optional, sure, and the main quest itself is comprehensive and (for me) intellectually challenging. It had me up late at night, sat in the dark, feeling enraptured and gripped by this evocative world. At least, until its anticlimactic finale.

The rewards for side quests are usually items and buff-providing glyphs to be used in combat. But combat itself is disappointingly shallow, making those rewards redundant. It’s been described as “Soulslike”, but that feels like a misnomer here (beyond it being third-person and using a stamina gauge). There is a fun twist in the game’s Healing Pulse ability, which feels like a mix of Nioh’s Ki Pulse and Bloodborne’s Rally system whereby hitting enemies releases particles that form a ring around Remi – time your button press correctly, and you’ll restore health in relation to damage dealt. Combat can be punishing too, with damage received dropping both maximum health and stamina that can make recovery tricky. Any other connection to FromSoftware’s work is loose.

Combat lacks depth and ultimately becomes tiresome | Image credit: Rogue Factor / Eurogamer

There are four weapon types – sword, twin axes, polearm, and greatsword – each with their own attack patterns, which lends each a distinct combat rhythm when combined with the Healing Pulse. And each can be customised with an element based on differently coloured human emotions, as well as buffs and abilities specific to that emotion – though any form of rock-paper-scissors elemental system isn’t explicit and lacks depth. Remi is also equipped with a drone that can provide extra support as new abilities are discovered, which are fun enough to experiment with, but as a whole combat quickly becomes monotonous and lacks the intellectual challenge of puzzle solving.

Hell is Us accessibility options

Three combat difficulties. Subtitle customisation. Camera shake and motion blur options. Colour blindness options. Directional audio option.

The real issue is that there are only a handful of enemy types repeated throughout the entire game, bolstered by three levels of difficulty. Some are linked to coloured Haze enemies that must be defeated first, but these abstract apparitions have such bizarre animations it’s hard to get a handle on parrying their attacks appropriately. Add in a dodge that pivots around enemies rather than to the sides, and it’s all too easy to be embarrassingly surrounded and stuck in a corner. Moreover, Hell is Us only has a couple of bosses – if you can even describe these unique, puzzle-like encounters as such – so there’s little escalation to combat, or real tests to punctuate the flow of gameplay. As a result, combat feels repetitive and laborious when instead you’re desperately trying to remember who you’re trying to speak with, or where the hell was that random, locked door at the start of the game I can’t remember now I’m twenty hours in and have no map to refer to.

Hell is Us features some moments of quiet beauty among its disturbing war imagery | Image credit: Rogue Factor / Eurogamer

Despite these misgivings, I still found Hell is Us to be a gripping experience. For each time I failed a quest or struggled to remember a vital clue, I was exploring a townscape freshly covered by the hazy, luminous glow of exploded bombs and littered with bodies frozen in death; or unearthing a medieval tomb filled with godly, mystical secrets; or investigating a strange facility as emergency signals whir and the screams of trapped humans haunt the metallic hallways. Hell is Us absolutely thrives on its atmosphere and sense of discovery, which few games nowadays even attempt in quite this manner.

I commend Rogue Factor for its design decisions, however divisive they may be. The studio has a core vision for Hell is Us, and the result is a singular experience that’s as enticing as it is frustrating. Try it – this hell might just be for you.

A copy of Hell is Us was provided for review by Nacon.



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September 2, 2025 0 comments
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Welcome to Laughinghyena.io, your ultimate destination for the latest in blockchain gaming and gaming products. We’re passionate about the future of gaming, where decentralized technology empowers players to own, trade, and thrive in virtual worlds.

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    October 10, 2025
  • Blue Protocol: Star Resonance is finally out in the west and off to a strong start on Steam, but was the MMORPG worth the wait?

    October 10, 2025

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