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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...
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Institutions dump BTC as volume soars for Ether funds

Institutional investors appear to have offloaded nearly $100 million worth of Bitcoin exposure this past week while Ether investment product volumes surged.

CoinShares’ weekly Digital Asset Fund Flows report has revealed last week saw the largest Bitcoin in the report’s history as Elon Musk’s Twitter account again wreaked havoc in the crypto markets.

The May 17 report notes $98 million exited Bitcoin investment products last week, equating to 0.2% of total assets under management, or AUM. “While small, this marks the largest outflow we have recorded,” CoinShares noted.

Amid the tumultuous market conditions for Bitcoin, institutional investors appear to have ramped up their accumulation of Ether and other alternative cryptocurrencies, with the report identifying inflows to crypto asset investment products of $48 million when excluding Bitcoin.

Ethereum represented more than half of flows to altcoin investment products with $27 million. Cardano and Polkadot also saw increased inflows of $6 million and $3.3 million respectively.

CoinShares also notes that May is shaping up to be the first month in which investment volume for institutional Ether products has outpaced that of Bitcoin products. The report stated:

“The data impl[ies] that investors have been diversifying out of Bitcoin and into altcoin investment products.”

Digital asset investment products saw a net outflow of $50 million, marking the first week to post a net outflow since October 2020.

The institutional pivot towards Ether and altcoins reflects recent trends in the broader crypto asset ecosystem, with Bitcoin market dominance sinking to a three-year low of roughly 40% as of May 17.

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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...
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