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

Analyst enters $32.5K Bitcoin buy order as hodlers bet on $46K BTC price bottom

Peter Brandt is bracing for bigger price drops as technical indicators suggest bulls will yet be spared an apocalyptic crash.

Bitcoin (BTC) is expected to dip as low as $32,500 in the short term after several crucial support levels faded to nothing on April 23.

BTC/USD hit lows not seen since early March on Friday, as analysts line up their prognoses — and buy orders — in the latest Bitcoin price correction.

Brandt plans to buy Bitcoin at $32,501

BTC pullbacks tend to frighten new investors, while old hands seem to battle each other for who can put on the coolest persona as the numbers fall.

As the largest cryptocurrency fell through $53,000 and then $50,000, however, signs of bearishness for the short term began to surface.

For veteran trader Peter Brandt, well known for calling various BTC price phenomena in recent years, there was still much more room left to buy the dip. So much so that he revealed he had scheduled a buy order at just $32,501.

Like other popular analysts, however, Brandt is far from bearish on Bitcoin in the long term. Joining him in forecasting the price floor was popular Twitter account @Dilutionproof, who argued that $46,000 would be a line in the sand for BTC/USD.

The foundation for support in fact consists of several price points, the account explained. Bids from investors and large-volume whales, along with a technical Fibonacci level, all suggest that bears would have difficulty forcing the market much lower.

"I have also observed on the blockchain a lot of on-chain buying volume around $47-49K, which I expect to act as very strong support should we even get down to those price levels," Philip Swift of trading suite Decentrader agreed in fresh analysis released on Friday.

"In addition, we are continuing to see big increases in the number of users on the Bitcoin blockchain, which is also bullish. So, while there has been a lot of fear on social media this week, I do not believe that there is a need to panic or be overly concerned about the price of Bitcoin right now."
BTC exchange inflow and outflow chart. Source: Lex Moskovski/ Twitter

More BTC was deposited to exchanges in the 24 hours to Friday than at any time since the cross-asset crash in March 2020, Glassnode data shows.

For fellow Twitter analyst Rekt Capital, meanwhile, the retracement is a textbook event that has characterized every Bitcoin bull market.

The start of the Q2 correction, coming around 80 days after the end of the Q1 correction from $42,000, mimics what happened to Bitcoin during its 2017 bull run, the account noted.

BTC/USD Q1 and Q2 pullback comparison. Source: Rekt Capital/ Twitter

Altcoins suffer but a cash injection is near

As Bitcoin lingers, altcoins are seeing another sea of red after succumbing to a broad sell-off — but not for long.

That is also the conclusion of Swift, who singled out Ether (ETH) after the largest altcoin by market cap hit new all-time highs this week. More generally, altcoins are ripe for an influx of cash from investors who consider Bitcoin as "too expensive."

"Given the influx of new money entering the market and new entrants perceiving Bitcoin as 'too expensive,' I am expecting money to flow into altcoins," he added.

"That would cause Bitcoin dominance to drop for a period of time as certain alts outperform Bitcoin."

Bitcoin lost its controlling slice of the crypto market cap pie on Thursday, dropping into the 40-50% zone for the first time since 2018.

https://ift.tt/2S0sSwP
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

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

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