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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 cautious as crypto products post weakest volume since October

Sophisticated investors appear to be spreading their risk across the crypto sector, with multi-asset products beating out BTC and ETH by inflows.

Institutional investors are yet to regain confidence in the crypto markets, with weekly crypto investment product volume dropping to its lowest level since October 2020.

According to CoinShares’ July 12 Digital Asset Fund Flows Weekly report, $1.58 billion worth of digital asset products changed hands between July 5 and July 9.

Crypto investment products also saw outflows of $4 million for the week, with roughly $7 million exiting Bitcoin (BTC)-tracking products. However, European Bitcoin products saw inflows overall, suggesting some investors believe the worst of 2021’s bear market may be behind us.

Ethereum (ETH) products also saw minor inflows of $800,000 for the week.

Capital flows for institutional crypto products: CoinShares

CoinShares’ latest data suggests institutional investors are sitting on the fence after the previous week’s brief bullish recovery that saw $63 million injected into BTC and ETH products combined.

Institutional Bitcoin products have now posted outflows for 8 of the last 9 weeks. Sophisticated investors also offloaded Ether exposure last month, with outflows totaling $64.3 million since the week ending on June 6.

Related: Bitcoin price falls under $33K, but on-chain data hints at BTC accumulation

Despite investors appearing cautious on BTC and ETH, CoinShares notes that multi-asset products have continued to see inflows as institutions spread their risk across the sector, posting inflows of $1.2 million.

Multi-asset products have seen year-to-date (YTD) inflows of $362 million, and now represent 16.5% of assets under management (AUM) of multi-asset funds. CoinShares wrote:

“While the inflows remain relatively small in comparison to Bitcoin and Ethereum, the data does imply that investors are increasingly looking to diversify their digital asset holdings.”

Investors also showed interest in Cardano, with inflows totaling $600,00 last week. Despite the recent regulatory scrutiny aimed at Binance, Binance Coin products saw inflows of $400,000.

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