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...

Privacy coin season? DASH price gains 100% in a week as Monero, Zcash flip bullish

Privacy coins such as Monero, Dash and Zcash are beginning to show signs of life.

The strength of the cryptocurrency market is spreading appears to be spreading to privacy-focused coins. The calm price action of Bitcoin (BTC) often sets up an intense period for altcoins to rally, where several groups of coins can start becoming bullish. 

One of those segments is the privacy coin segment. For example, Monero (XMR) rallied by more than 50% last week. Meanwhile, Dash (DASH) has more than doubled with a 125% gain while Zcash (ZEC) rallied by 70% during the same period.

Monero breaks out of USD downtrend

XMR/USD 1-week chart. Source: TradingView

Prior to the rally, XMR  was lagging behind Ether (ETH) as the construction is quite similar between the two. After a two-year-long accumulation period, ETH price finally broke to the upside at the beginning of 2021.

Such breakouts often see a support/resistance (S/R) flip, after which the price of the underlying asset can continue rallying. This S/R flip zone for Monero price is marked with the green box where support was found. This support zone held and XMR price continued accelerating toward the next resistance zone around $300.

XMR/BTC 1-week chart. Source: TradingView

The weekly chart for Monero's BTC pair shows an entirely different view, however, as it's still in a downtrend. Therefore, a rally in the XMR/BTC pair may be on the horizon. Specifically, a breakout above 0.006 sats would likely lead to more upside.

DASH leads the way

DASH/USD 1-week chart. Source: TradingView

Frequently, when one coin from a segment starts to run, other coins follow suit. Such a correlation can be found between Dogecoin (DOGE), XLM, and XRP, as these often mirror each other's moves and privacy coins aren't any different, namely XMR, DASH, and ZEC. 

Dash, for instance, has been breaking out of a two-year accumulation period as well. As long as Dash sustains support above the $150-170 region, further continuation toward $550-600 is on the table.

DASH/BTC 1-week chart. Source: TradingView

The DASH/BTC pair is also looking weak, however, similar to XMR. A breakout above the critical resistance zone of 0.007 sats would help generate upward momentum. If that level breaks and flips for support, continuation towards the 0.016-0.018 sats region becomes likely.

Such a rally would also be in line with more upside in the USD pair as the next level of resistance is found between $550-600.

Zcash is also showing strength

ZEC/USD 1-week chart. Source: TradingView

Zcash is the third major privacy coin, which also shows a similar chart structure. ZEC price broke out of a long, multi-year accumulation period and flipped the $80 area for support.

With this S/R flip, the price then rallied to $160-170, the next area of resistance. As long as Zcash holds above the $100-120 area, the resistance zone at $350-380 then becomes the next logical target.

ZEC/BTC 1-week chart. Source: TradingView

But just like the other privacy coins, the BTC pair is still struggling to break out. The critical level for Zcash is 0.0036-0.0041 sats. If that level is broken, the 0.008 sats area should be the next level of defense for the bears.

Therefore, privacy coins are starting to wake up, showing decent strength, but more upside is possible, particularly in their BTC pairs, which may break out of their long downtrends. The critical levels of resistance must flip to support, however. If this occurs, privacy coins will be in a good position for their own "alt season," which has been especially auspicious for the DeFi sector in the past months. 

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.

https://ift.tt/2LR87Rs

Comments

Popular posts from this blog

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...

Year of sponsorships: Celebrities who embraced crypto in 2021

From Matt Damon appearing in a TV spot for Crypto.com to Kim Kardashian shilling EthereumMax, 2021 saw celebrities with higher profiles getting into crypto. Though the crypto space has seemingly moved beyond the endorsements many minor celebrities bestowed on token projects during the 2018 initial coin offering boom, its growing popularity and acceptance now has professional sports players, Hollywood elites and politicians backing major companies dealing with digital assets. In June 2021, Kim Kardashian promoted EthereumMax (EMAX) via an Instagram story shared with  her more than 200 million followers . The token, which was used as payment for online ticket purchases for some pay-per-view events, gained 116,000% in just one week following the celebrity’s activity before falling more than 99% and leaving many investors in the red. Kim Kardashian promoting EthereumMax on Instagram Stories, June 2021. Source: Instagram Though EthereumMax is somewhat of a cautionary tale for cry...

Top 3 Rebase Token Markets Shudder — Stats Show TIME, OHM, BTRFLY Lost Billions Since All-Time Highs

While the crypto economy has shed more than 3% in fiat value during the last 24 hours dropping to $2.09 trillion, the top rebase tokens by market capitalization have seen significant losses this week. At the time of writing, the rebase token economy is valued at over $3.2 billion but has lost more than 10% in value during the last 24 hours. The largest rebase token economies such as Wonderland, Olympus, and Redacted Cartel have shed between 36% to 55% over the last week. Top 3 Rebase Token Protocols Shed Billions in Value Over the Last Week, Wonderland Down 87% Since High On the first day of November 2021, Bitcoin.com News took a deep dive into the Olympus DAO and the reserve-backed asset called OHM . Olympus is a decentralized finance (defi) project that is described as a rebase token and since Olympus started, a myriad of Olympus forks have been born. Essentially, rebase token protocols adjust the token supply in a periodic fashion or when the price fluctuates. Olympus was once ...