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

Bitcoin rebounds to $56K as Dogecoin price halts at 420% weekly gains

Bitcoin benefits from an adoption boost by Venmo, while “Dogecoin Day” so far produces little in terms of fresh price upside for DOGE.

Bitcoin (BTC) saw a staunch comeback on Tuesday thanks to fresh bullish news from PayPal combined with solid on-chain indicators. 

BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView

#Doge420 aims to sprout $4.20 Dogecoin

Cointelegraph Markets Pro and TradingView showed BTC/USD bouncing to $56,000 during Tuesday trading, hours after hitting local lows of $53,300.

With volatility still present, the pair nonetheless looked increasingly reliable above $52,000, a significant support zone and the floor seen during last Sunday’s flash crash from all-time highs.

News that PayPal-owned payment company Venmo had launched cryptocurrency buying and selling to its app appeared to buoy the recovery. On the flip side, a social media-induced “Dogecoin Day” was adding pressure to Bitcoin’s immediate upside prospects as funds continued to flow into Dogecoin (DOGE) on the day.

As Cointelegraph reported, the aim of the “celebration” is to launch DOGE/USD to $4.20 to coincide with the date and the week in which SpaceX “Technoking” Elon Musk promises to “put a literal Dogecoin on the literal moon” with his latest rocket launch. 

The hashtag #Doge420 was trending on Twitter at the time of writing, with DOGE/USD trading at just over $0.38, coincidentally up 420% in a week but flat on the day. United States traders were yet to wake up, leaving the prospect of gains later in the day open.

RSI indicator tells BTC bulls to keep the faith

Back within Bitcoin, meanwhile, traders were eyeing one indicator in particular as signaling both solid support at $52,000 and that this week’s dip would now bounce definitively. 

Stochastic relative strength index (RSI), an expression of RSI’s own strength, hinted that Sunday’s dip was already following the pattern of six previous pullbacks in BItcoin’s current bull run.

As such, daily performance should now see BTC/USD lifted off its recent floor and continue grinding upward.

TradingView account Elliot0511, who uploaded a chart showing the habitual behavior, said in comments that there was no reason to think that this time would be different. It summarized:

“As we see from the chart we have a double confirmation that this DIP is almost at the end, we can establish it from the fact that, besides the fact that the price is bounced on the main support, we also have Stoch RSI at 0, this happened only 6 times from Bull market start and there was always a rebound, I don't see reason why this time the same thing should not happen, the Bull market has just begun, don’t scare yourself because there is no reason.”
Annotated BTC/USD stochastic RSI vs. spot price chart. Source: TradingView

Popular Twitter account IncomeSharks likewise highlighted the floor price level and pointed to decreasing DOGE inflows being apt to fuel Bitcoin’s comeback.

“If you are willing to buy a hyped up meme coin at these prices, you should have no problem adding some Bitcoin spot here,” it told followers Tuesday.

“Once $DOGE dumps we should see a nice recovery. No point talking about any price lower than $52,000 unless this doesn’t hold, which I think it will.”
https://ift.tt/3eaiY2U
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