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

Not so safe? SafeMoon’s parabolic rally isn’t sustainable, traders warn

Traders say the Safemoon rally is not sustainable as the token sees massive volatility.

SafeMoon, the token on Binance Smart Chain widely recognized as the Tiktok meme coin, is seeing massive volatility after its massive gains in the past week.

According to the data from Dex.Guru, which tracks alternative cryptocurrencies on various blockchains, the price of SafeMoon dropped by nearly 50% in the last two days from $0.0000074 to $0.0000045.

Does the SafeMoon rally have any strength?

SafeMoon is a cryptocurrency on Binance Smart Chain that started out at a low market cap at around $50,000. The price and market capitalization of Safemoon went parabolic after growing popularity on TikTok.

On Dex.Guru, the price of SafeMoon rose from $0.00000029 to $0.0000074, by more than 2,200% in merely three weeks.

Safemoon 1-day candle chart. Source: Tradingview

Whether there is any substance or fundamental catalysts behind the SafeMoon rally remains to be seen.

On April 22, the SafeMoon team announced that the cryptocurrency is being flooded with listing offers from large Asian exchanges.

The team said one exchange in Asia that is currently in talks with SafeMoon is the 36th biggest in the world.

The team said:

"#SAFEMOON is currently inundated with exchange offers, a large Asian exchange is imminently being announced... this will allow Asian communities to acquire Safemoon, the exchange has $857 MILLION 24 hour trading volume and is the 36th LARGEST in the world."

Nevertheless, traders emphasized the massive volatility of SafeMoon despite its relatively high liquidity compared to other tokens that are not listed on major exchanges.

Cantering Clark, a derivatives trader, said that the correction of SafeMoon restores balance in the universe, implying that the rally was not sustainable.

Luke Martin, a well known cryptocurrency trader, also described the price trend of SafeMoon as "unSAFEMOON" after it dropped 65% in a short period on April 22.

One reason why rally might fade

SafeMoon rallied strongly within a period of a few weeks, surging from near zero to $5 billion in valuation at its peak.

Cryptocurrency researcher Larry Cermak noted that the SafeMoon livestream had 50,000 live viewers. 

But Cermak also pointed out that if the interest around Binance Smart Chain persists, BSC could struggle to meet the surging user demand, which then could lead to higher fees that may drive away users.

He said:

"DeBank is saying that PancakeSwap had 700k unique addresses today and the SafeMoon livestream had 50k live viewers. Wtf is going on. I am very sure about one thing though - BSC won't be able to handle the current activity for much longer and will eventually be unusable. When ponzis start consistently losing money, people will lose interest too. Only question is what happens after that."

As Cointelegraph reported, PancakeSwap, the biggest automated market maker on Binance Smart Chain, overtook Ethereum's user activity as the demand skyrocketed at the peak of the SafeMoon rally.

https://ift.tt/3sEZEAb
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

Bitcoin Legal Tender in 3 Days but Survey Shows 7 Out of 10 Salvadorans Want Bitcoin Law Repealed

Bitcoin is becoming legal tender in El Salvador in three days. However, a nationwide survey conducted by the University Institute of Public Opinion (Iudop) shows that seven out of 10 Salvadorans want the government to repeal the Bitcoin Law. El Salvador’s Bitcoin Law Goes Into Effect in 3 Days The University Institute of Public Opinion (Iudop) in El Salvador conducted a study between Aug. 13 and Aug. 20 of how the public views the country’s upcoming Bitcoin Law. The institute is a research center of the José Simeón Cañas Central American University (UCA). El Salvador’s Bitcoin Law is set to go into effect on Sept. 7 , when BTC will be legal tender in the country alongside the U.S. dollar. A total of 1,281 respondents ages 18 and over participated in this national survey that “represents the entire adult population residing in the country,” according to the institute. Out of all the respondents, 62.4% said they were aware of the approval of the Bitcoin Law by the deputies of the ...
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