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...
New allocations from big business come as momentum behind the latest altcoin rally seems to shift away from familiar names.
Bitcoin (BTC) touched $58,000 on May 6 as the latest phase of its comeback seemed to come at the expense of altcoins.
Bitcoin claws back lost limelight
Data from Cointelegraph Markets Pro and TradingView showed BTC/USD return to battle familiar resistance near old all-time highs on Thursday.
The move builds on strength from earlier in the week. As Cointelegraph reported, Wednesday saw $57,000 and 5% daily gains.
As analysts began to note, however, altcoins are facing increasing pressure from a newly-invigorated Bitcoin, which just days before had itself been left in the shade by their performance.
Thursday thus saw 4.4% growth on BTC/USD, while Binance Coin (BNB) and Dogecoin (DOGE), previously the week’s high flyers, were both flat.
Other altcoins did manage to deliver impressive returns and beat Bitcoin on the day, notably Cardano (ADA) and Bitcoin Cash (BCH), which were up 16% and 22% respectively at the time of writing.
“Good start of the day: both ETHUSD and BTC bouncing from the expected levels,” popular trader Crypto Ed summarized about the state of the market.
The largest cryptocurrency thus again faced final resistance beginning at just under $60,000.
Bank BTC adoption strikes a chord
Bitcoin had benefited from a major U.S. bank adoption announcement, which was followed by news that the largest e-commerce company in Latin America, MercadoLibre, had added $7.6 million of BTC to its balance sheet.
“As part of our treasury strategy this quarter we purchased $7.8 million in bitcoin, a digital asset that we are disclosing within our indefinite-lived intangible assets,” a filing with U.S. regulator the Securities and Exchange Commission (SEC) confirmed.
There are now six companies with at least $11.4 million in Bitcoin on their balance sheets, corresponding to at least 8,027 BTC. MicroStrategy, which only entered the market last August, is still by far the largest player with over 91,000 BTC.
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