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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...
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Bitcoin price hits $36,800 shortly after Ethereum closes above $1,500

Bitcoin bulls pushed BTC price through a key resistance level just a few hours after Ethereum closed above $1,500.

On Feb. 2 Ether (ETH) saw its price breakout to a new all-time high at $1,555 as increased activity in the derivatives market provided clear signals that traders were bullish on the long-term prospects of the largest altcoin by market capitalization.

Bitcoin price also saw a bullish breakout as it finally crossed above the $35,000 resistance and currently trades for $36,700

ETH/USDT 4-hour chart. Source: TradingView

Prominent business personalities like Elon Musk, Michael Saylor and Mark Cuban continued to engage the public with discussions revolving around the benefits of blockchain technology and decentralized finance. In remarks to the reddit group r/Wallstreetbets, Cuban said that "stocks will be on the blockchain in the future.”

Circle’s USD Coin (USDC) has now been integrated with the Stellar blockchain, enabling the stablecoin to be transacted on the Stellar network and possibly take some of the strain of the clogged Ethereum network.

USDC price vs. the number of transactions per sec. Source: Glassnode

Data from Glassnode shows USDC transaction volume on Ethereum has steadily been increasing over the past year as the Coinbase backed coin steadily gains ground on Tether (USDT). Utilizing Stellar blockchain will greatly reduce USDC transaction fees and free up space on the Ethereum network.

Traditional markets rise as meme stocks tumble

The hype surrounding r/Wallstreetbets stocks like GameStop (GME), AMC and BlackBerry (BB) dwindled as their prices extended the losses experienced on Feb. 1.

While the “meme” stocks saw their prices plunge, the S&P 500, Dow and NASDAQ all put on strong performances for the day and closed up 1.39%, 1.57% and 1.56%. Silver price dropped 8.44% to $26.60.

Altcoins follow Bitcoin’s lead

Daily cryptocurrency market performance. Source: Coin360

Strong price performances were also seen from numerous altcoins as the spike in Ether price increased optimism across the sector. Litecoin (LTC) saw a price jump of 13% and currently trades at $153.50, while Maker (MKR) and Solana (SOL) extended their strong performance as each gained nearly 15%.

The overall cryptocurrency market cap now stands at $1.09 trillion and Bitcoin’s dominance rate is 62.3%.

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