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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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Bitcoin investment product volumes fall to 38% of YTD average

Institutional Bitcoin products have recorded outflows for nine of the past ten weeks, suggesting many investors remain bearish.

Institutions are continuing to sit on the sidelines of the Bitcoin markets, with BTC investment products volumes dropping to just 38% of its year-to year-to-date (YTD) average over the past week.

According to CoinShares’ July 19 Digital Asset Fund Flow Weekly report, Bitcoin investment products generated roughly $3.9 billion worth of daily trade from July 12 to July 16, down substantially from 2021’s average of nearly $10 billion.

However, the report’s authors do not conclude the decline in trade activity is cause for alarm, with CoinShares noting that Bitcoin has experienced “similar seasonal dips in volumes during the summer months in recent years.”

Institutional Bitcoin products also saw outflows of $10.4 million for the week, with investors now having net reduced their BTC exposure for nine of the past 10 weeks. Despite such, the volume of outflows witnessed during July have dwindled compared to recent months.

The largest outflow from Bitcoin products on record occurred between May 10 and May 14 — when institutional investors pulled $98 million from the markets.

Flows by Provider: CoinShares

While institutional investors have continued to reduce exposure to BTC, Ether (ETH) investment products posted a third consecutive week of inflows this past week.

Roughly $11.7 million flowed into Ether products, bringing YTD inflows up to $973 million for 2021 so far. However, Bitcoin products dominate the institutional digital asset products sector by YTD flows, receiving $4.1 billion from investors since the start of the year.

Related: Ethereum documentary featuring Vitalik Buterin raises $1.9M in 3 days

Cardano (ADA) products saw the second-largest inflows behind Ether, with investors increasing ADA exposure by $400,000. Ripple (XRP) and Polkadot (DOT)-tracking products also saw inflows of $300,000 each, followed by Stellar (XLM) with $200,000.

Despite recent bullishness, inflows to multi-asset products dwindled down to just $100,000 for the week.

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