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

Bitcoin loses $48K as analysts eye next zones for a potential BTC price bounce

It could take $44,000 or $40,600 before Bitcoin bulls take back control in what is nevertheless a welcome correction for BTC/USD.

Bitcoin (BTC) headed down to test new support on Aug. 25 after a breakdown of bullish trajectory sparked predictions of $44,000.

BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView

Old resistance provides backdrop for BTC price rethink

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD losing around 2% overnight Wednesday.

A rejection after an attempt to reclaim $51,000 — the top of a key long-term resistance zone —  saw Bitcoin pause for thought, beginning what analysts had already said would be a well-earned correction.

For Cointelegraph contributor Michaël van de Poppe, $44,000 could be a useful floor should the downside continue.

"At this stage, $51,000 is a critical resistance zone; the area to watch for potential support can be found around $42,500-$44,000," he summarized.

"That is the level that we could be looking at for a rangebound construction, for some sideways action. We could still see $40,600 — previous resistance."

Fellow trader Scott Melker meanwhile eyed a potential bullish U-turn already occuring on lower timeframes thanks to relative strength index (RSI) trying to push out of "oversold" territory. This was aided by increasing on-chain volume, something required for reliable upside.

"Potential bullish divergence with RSI, coming out of oversold. Would confirm with a clear elbow up on RSI on the next close," he commented on the hourly chart.

"So we wait. Low time frame, low strength signal, but compelling since it coincides with support."

A look at buy and sell levels on major exchange Binance confirmed $47,000 as the nearest strong support level among spot traders.

BTC/USD buy and sell levels (Binance) as of Aug. 25. Source: Material Indicators/ Twitter

Good times on hold for majoaltcoins 

Altcoins continued their descent in line with Bitcoin on the day, in classic fashion often posting deeper losses.

Related: Here’s why Bitcoin bulls might trample $50K ahead of Friday’s $2B BTC options expiry

Ether (ETH) lost over 6% to near $3,000 support, while the top ten cryptocurrencies' biggest loser was Solana (SOL), which shed close to 14%.

Cardano (ADA), despite trading 8% lower at $2.65, still preserved weekly gains of 34%.

Van de Poppe added that a slow grind back up for Bitcoin would give altcoins room to outperform, this potentially pencilled in for September or October. 

More broadly, cryptocurrency markets are expected to put in a second major surge towards the end of the year, Cointelegraph reported.

https://ift.tt/3yg0s1h
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

Earn up to 50% APY by Staking $GLQ on GraphLinq App

PRESS RELEASE. The newest utility token to offer staking to its users/holders is GraphLinq Protocol’s $GLQ. As of this article, $GLQ has 4,500+ holders according to etherscan, excluding GLQ holders on CEX like Kucoin, MXC, Gate. This is a great step for the future of the project as it will further incentivize more users to hold. Explore more about GraphLinq, its staking mechanism & steps to stake. What Is GraphLinq? GraphLinq – The No Code protocol for automating actions on-chain & off-chain, launched in just March 2021, has come a long way bringing users in the crypto space a never seen model of integrating blockchain automation on any blockchain-related/non-related task. The goal of the GraphLinq protocol is to allow users to interact blockchains with any connected system as effortlessly as possible without any prior knowledge of coding. GraphLinq ecosystem currently consists of an engine, an integrated development environment ( IDE ) & an app to provide automated...
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