Skip to main content

MLB Team Washington Nationals Partners With Terra Blockchain Community, Ballpark Plans to Accept UST

On February 9, the American professional baseball team based in Washington, D.C., the Washington Nationals, announced the team has partnered with Terra, the open-source blockchain platform and decentralized autonomous organization (DAO). The Washington Nationals detail that the team is a “leading innovator” and is “consistently introducing new technologies to enhance the fan experience.” Washington Nationals Ink Long-Term Deal With Terra Major League Baseball (MLB) team the Washington Nationals has partnered with the blockchain platform and DAO Terra, according to an announcement published by the team on Wednesday. The deal with Terra follows a slew of sports-related deals with crypto firms, but the MLB team will be the first to partner with an open-source blockchain project. In addition to the partnership, the algorithmic stablecoin UST that’s issued on the Terra blockchain will be “accepted as a payment method at Nationals Park as early as next season.” “The Nationals continue t...
Post a Comment

Bitcoin supply squeeze heats up as Grayscale buys nearly 3x the BTC mined in December

Grayscale brings its total assets under management above $20 billion in time for the start of 2021 as BTC demand intensifies.

Institutional crypto investment giant Grayscale now has $20 billion under its control as its Bitcoin (BTC) buys outstrip production by almost three to one.

As noted by data analysis resource Coin98 Analytics on Jan. 1, Grayscale bought almost three times more BTC than that which was added to the market in December 2020.

It's official: Miners can't produce enough Bitcoin

Last month, the company added a total of 72,950 BTC ($2.132 billion) to its assets under management (AUM). During the same period, miners generated just 28,112 BTC ($821.7 million) — 38.5% of Grayscale's buy-in.

The figures underscore what many have described as an ongoing liquidity squeeze in Bitcoin, where large buyers suck up any available supply and remove it from circulation, sending it to cold storage for long-term hodling.

As Cointelegraph reported, the phenomenon was already visible in November, but December saw a clear increase in demand from Grayscale and other institutional entities.

BTC mined vs. bought by Grayscale in December 2020. Source: Coin98 Analytics/ Twitter

Grayscale now controls $20 billion in crypto

As the clock chimed midnight on New Year's Eve, meanwhile, Grayscale CEO Barry Silbert celebrated bringing the company's total AUM across its various crypto funds to over $20 billion. Just one year ago, the figure stood at a mere $2 billion.

Grayscale crypto assets under management as of Dec. 31, 2020. Source: Grayscale/ Twitter

The company remains the largest institutional player on the Bitcoin scene, with its $17.475 billion in BTC far outstripping any other market participant. Newcomer MicroStrategy, while not an investment business, now controls 70,470 BTC ($2.06 billion).

Going forward, analysts predict that more demand for the fixed supply of "new" bitcoins from miners will only serve to create a bidding war and push up the price. Sellers already faced stiff resolve from buyers in December, when new all-time highs failed to produce significant long-lasting pullbacks.

At press time on Friday, BTC/USD continued to trade above $29,000, having hit a new record high of $29,500 overnight.

https://ift.tt/2L8EI4H
Labels:

Comments

Post a Comment

Popular posts from this blog

Earn up to 50% APY by Staking $GLQ on GraphLinq App

PRESS RELEASE. The newest utility token to offer staking to its users/holders is GraphLinq Protocol’s $GLQ. As of this article, $GLQ has 4,500+ holders according to etherscan, excluding GLQ holders on CEX like Kucoin, MXC, Gate. This is a great step for the future of the project as it will further incentivize more users to hold. Explore more about GraphLinq, its staking mechanism & steps to stake. What Is GraphLinq? GraphLinq – The No Code protocol for automating actions on-chain & off-chain, launched in just March 2021, has come a long way bringing users in the crypto space a never seen model of integrating blockchain automation on any blockchain-related/non-related task. The goal of the GraphLinq protocol is to allow users to interact blockchains with any connected system as effortlessly as possible without any prior knowledge of coding. GraphLinq ecosystem currently consists of an engine, an integrated development environment ( IDE ) & an app to provide automated...
Post a Comment
Read more

Turkey’s Inflation Jumps to 36%, Lira’s Value Plummets, Citizens Flock to Stablecoins

The Republic of Turkey’s economy and the country’s native fiat currency the Turkish lira continue to experience turmoil as inflation has risen to 36%. Since this time last year, the lira has lost 44% of its value against the U.S. dollar. Meanwhile, the use of stablecoins in Turkey has skyrocketed and today, 28.96% of all trades with tether are paired against the Turkish lira. Inflation in Turkey Rises to the Highest Level in 19 Years, TRY Is Tether’s Top Pair Capturing 29% of All Trades, TRY Commands 7.20% of BUSD Trades Reports from the ​​Turkish Statistical Institute on Monday detail that inflation in Turkey has soared to 36%, which is the highest rate it’s been in 19 years. Reuters explains that during the month of December a basket of consumer prices shot up to 13.58%. During the last 12 months, the Turkish lira has lost 44% of its value against the USD. The current inflation has never been higher during Tayyip Erdoğan’s rule. Just recently the nation’s central bank introduc...
Post a Comment
Read more

Coinsquare launches Quick Trade mobile app with instant funding

One of Canada's largest crypto exchanges has launched a new mobile application designed to streamline the buying and selling of Bitcoin and Ethereum. Coinsquare , the Toronto-based digital currency platform, has announced a new mobile trading application designed to simplify the buying and selling of cryptocurrencies in Canada.  Quick Trade was officially unveiled Monday, allowing commission-free transactions of Bitcoin ( BTC ), Ethereum ( ETH ), Litecoin ( LTC ) and Bitcoin Cash ( BTC ). A total of 15 trading pairs are available at launch, with “many more digital assets to be onboarded over the coming months,” the company said. The app is available on Android and Apple devices alongside Coinsquare’s existing mobile application, which is an extension of its web-based trading platform. In addition to commission-free trades, the new app allows for instant account funding via Interac e-Transfer – a considerable upgrade from Coinsquare’s current funding window, which can take up t...
Post a Comment
Read more