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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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DeFi tokens lead the market higher as Bitcoin price searches for momentum

DeFi tokens take center stage as top lending protocols AAVE, Maker and Compound establish new all-time highs.

Several DeFi tokens saw their prices breakout on Feb. 4 as Bitcoin (BTC) and Ether (ETH) prices traded sideways for the day. Aside from the general bullish trend permeating the DeFi sector, positive comments from big-name investors touting the benefits of blockchain technology and DeFi appear to be lifting sentiment throughout the sector.

Currently, Bitcoin price is still struggling to reclaim the $38,000 level and according to Cointelegraph analyst Marcel Pechman, top traders may have added to their short positions as BTC rallied toward $38,000 on Feb. 3.

Daily cryptocurrency market performance. Source: Coin360

Elon Musk made waves again as his “DOGE” tweet resulted in a sharp volume spike which sent Dogecoin (DOGE) into a 48% rally to $0.054. XRP price also broke out, rallying 12.45% to a daily high at $0.4365.

Universal Market Access (UMA) saw its price explode by 158% to reach a new all-timeat $44.25 before correcting to its current value of $33.13. Decentralized exchange liquidity provider 0x (ZRX) also spiked 70% to a new 2021 high at $1.35.

AAVE vs. MKR vs. COMP percentage growth 4-hour chart. Source: TradingView

DeFi lending platforms AAVE, Compound (COMP) and Maker (MKR) all established new all-time highs as their prices have spiked 46.68%, 36.6% and 22.69% respectively.

Traditional markets rally higher

Traditional markets also caught a boost as stocks saw their fourth straight day of gains led by tech stocks like eBay (EBAY), which saw its price increase by 5%, and PayPal (PYPL) whose shares rallied 7%.

The S&P 500, Dow and NASDAQ all closed the day well into the green, up 1.09%, 1.08% and 1.23% respectively.

DeFi attracts mainstream attention

Increased attention from business leaders like Mark Cuban and institutions such as Grayscale Investments has brought increased attention to the crypto sector and also highlights the rapidly increasing involvement of traditional finance in the cryptocurrency ecosystem.

BTC/USD daily chart. Source: Coin360

With MicroStrategy CEO Michael Saylor offering a ‘Bitcoin Bootcamp’ to more than 1,400 publicly traded companies over the past 2 days, the recent price movements and increased trading volume seen today could be the start of wider adoption and increased inflows into Bitcoin and the emerging DeFi ecosystem.

The overall cryptocurrency market cap now stands at $1.13 trillion and Bitcoin’s dominance rate is 60.9%.

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