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

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
Read more

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...
Post a Comment
Read more

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 ...
Post a Comment
Read more