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 Whales Grow After Price Bottoms, Analyst Says ‘Coins Are Moving to Very Strong Holders’

Bitcoin Whales Grow After Price Bottoms, Analyst Says 'Coins Are Moving to Very Strong Holders'

While the price of bitcoin has been consolidating just above the $30k handle, onchain data shows that when the price dropped to $28,800, bitcoin whales bought the dip. Statics from Glassnode’s web portal shows the number of addresses with more than 1,000 bitcoin has spiked after hitting the price bottom.

The Number of Addresses Holding 1,000 Bitcoin Spikes

According to onchain statistics, bitcoin whales with a balance of more than 1,000 bitcoin are growing and the recent BTC price drop helped bolster the metric. A few days before the drop to the $28k zone, BTC prices were coasting along between $35k to 38k in USD value. The drop to $28,800 per bitcoin on Thursday, was the lowest price drop so far this year. But the dip did not last very long and Glassnode stats show that the number of addresses with more than 1,000 bitcoin has increased significantly.

A number of analysts on social media platforms spoke about the whales (1,000+ BTC holders) growing after the price drop allowed them to scoop as many units as they could.

Glassnode data shared by the researcher Willy Woo, which shows bitcoins may be moving off the market to stronger hands.

“Oh look,” the researcher Willy Woo tweeted. “Suddenly there’s a whole bunch of newly minted whales…. holders of 1000BTC / $32m of BTC. I’m seeing more whales coming in on this dip,” Woo added.

The bitcoin proponent further wrote:

Coins are moving off the market to very strong holders, the ones that keep accumulating without selling.

Double-Dipping and the Bitcoin Rich List

The metric of 1,000+ BTC whales dropped some at the end of 2020, but has been rising ever since the two most recent price drops. For instance, on January 10, 2021, crypto markets suffered heavy losses and the price of bitcoin dropped more than 25% in 24 hours’ time. Similar to the last price drop on Thursday, at that time, bitcoin whales with addresses with more than 1,000 bitcoin had jumped in number.

Glassnode stats that show the number of addresses with a balance of 1k BTC or more.

The most recent drop and whales scooping up bitcoins from weak hands also follows the BTC reserve purchase announced by Microstrategy. The company revealed this week it had bought the dip, by buying 314 more bitcoins for $10 million in cash.

Stats from the ‘Bitcoin Rich List’ or bitinfocharts.com’s 100 richest addresses shows that there was some deep accumulation on Thursday. Data currently indicates that there are 13,780 addresses that hold anywhere between 100 to 1,000 BTC in a single address.

Further, there are 2,345 unique bitcoin addresses holding 1,000 to 10,000 coins at the time of publication. There are only 100 colossal sized whales (10k to 1 million BTC) in the crypto economy and only one address with 100,000 – 1,000,000 BTC today.

What do you think about bitcoin whales accumulating more coins during the last two price dips? Let us know what you think about this subject in the comments section below.

Labels:

Comments

Post a Comment

Popular posts from this blog

Blockchain Software Firm Consensys Acquires Mycrypto Ethereum Wallet

On February 1, the blockchain infrastructure firm Consensys has revealed it has acquired the Ethereum-based wallet Mycrypto and plans to merge the wallet into Metamask. The price Consensys paid for Mycrypto was not disclosed but the announcement notes that the acquisition will “further improve the security of all the products.” Consensys Obtains Mycrypto Ethereum Wallet, Plans to Merge With Metamask in the Future Consensys has acquired the Ethereum-based wallet Mycrypto for an undisclosed sum according to an announcement released on Tuesday. The deal aims to strengthen the company’s Ethereum wallet Metamask and “enhance Web3 experiences.” The eventual merger between the two Ethereum interfaces will “provide users with a heightened experience that is even more extensive and secure,” according to Consensys. Consensys is an Ethereum software company led by one of the Ethereum co-founders Joseph Lubin. The Web3 wallet Metamask, with 21 million monthly active users (MAUs) is owned by C...
Post a Comment
Read more

The Congolese Mountain of Gold: Surprise Discovery in Africa Shows Metal’s Scarcity Is Hard to Prove

A myriad of gold bugs like to compliment the yellow precious metal for its ostensible scarcity, as estimates say only 2,500 to 3,000 tons of new gold is produced annually. While new gold discoveries have seemingly slowed, investigative studies also show that in some areas, gold is being smuggled into the economy by the ton, and often never accounted for as far as per annum issuance estimates. Recently, reports show a whole mountain of gold was discovered in the Congo, as the Democratic Republic of the Congo is well known for being a region that sees tons of smuggled gold filtered into the global financial system unreported. Surprise Gold Deposits Continue to Crack the Precious Metal’s Scarcity Proposition It has always been said that the precious metal gold (Au) is scarce, and some reports even say that gold mining on earth will end by the year 2050 . Additionally, estimates also show that there’s roughly 2,500 to 3,000 tons of new gold that is accounted for and enters into the fin...
Post a Comment
Read more

Bitcoin Legal Tender in 3 Days but Survey Shows 7 Out of 10 Salvadorans Want Bitcoin Law Repealed

Bitcoin is becoming legal tender in El Salvador in three days. However, a nationwide survey conducted by the University Institute of Public Opinion (Iudop) shows that seven out of 10 Salvadorans want the government to repeal the Bitcoin Law. El Salvador’s Bitcoin Law Goes Into Effect in 3 Days The University Institute of Public Opinion (Iudop) in El Salvador conducted a study between Aug. 13 and Aug. 20 of how the public views the country’s upcoming Bitcoin Law. The institute is a research center of the José Simeón Cañas Central American University (UCA). El Salvador’s Bitcoin Law is set to go into effect on Sept. 7 , when BTC will be legal tender in the country alongside the U.S. dollar. A total of 1,281 respondents ages 18 and over participated in this national survey that “represents the entire adult population residing in the country,” according to the institute. Out of all the respondents, 62.4% said they were aware of the approval of the Bitcoin Law by the deputies of the ...
Post a Comment
Read more