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

DeFi TVL hits a record $157B as Ethereum competitors attract investors

Interoperability-focused projects that offer cross-chain bridges and lucrative liquidity mining pools are seeing an influx of funds right as DeFi’s TVL hit a new all-time high.

Altcoins and DeFi tokens have been on a tear for the last two weeks  and as the end of August approaches many projects are seeing their tokens reach for new all-time highs.

Data shows that a majority of the top-10 DeFi tokens gained more than 20% in the past 30-days, with projects like Bancor (BNT) and THORChain (RUNE) seeing gains in excess of 115%.

Top-10 DeFi assets by price. Source: Messari

Here’s a look at some of the factors behind the current boost to DeFi tokens and the projects that are leading the way in terms of protocol upgrades and cross-chain interoperability.

Total value locked reaches a new all-time high

Data from DeFi Llama shows that the total value locked (TVL) in all DeFi protocols reached a new all-time high at $157.06 billion on Aug. 22 and many analysts believe TVL is one of the best measures of sentiment within the DeFi ecosystem.

Total value locked in DeFi. Source: DeFi Llama

During the previous run-up, the TVL reaching an all-time high coincided with the surging prices of Bitcoin and Ether (ETH), which both reached their all-time highs around the same time.

This time around, Bitcoin and Ether are more than 24% below their all-time highs yet the total value locked in DeFi has surpassed its previous record.

This suggests that popular DeFi-related tokens with multi-faceted utility within the crypto and DeFi ecosystem have attracted investors' attention. Typically, Uniswap (UNI) and SushiSwap (SUSHI) lead among DeFi tokens but a few other strong gainers this week include a 22% increase for Convex Finance and a 17.84% increase from PancakeSwap.

Related: This time it’s different: When DeFi meets NFTs

New protocols attract attention

The past 3 months have also seen the arrival of popular new DeFi protocols like DinoSwap and the rise of Ethereum-network competitors like Avalanche (AVAX) that have brought fresh energy and funds to the DeFi ecosystem.

DinoSwap and Avalanche have benefited from users fleeing high fees on the Ethereum network because both off reduced transaction costs and faster processing times through their cross-chain bridges.

Avalanche launched its ‘Avalanche Rush’ DeFi incentive program on Aug. 18 which has brought a flurry of activity to the protocols involved, including Aave, Curve and SushiSwap. This liquidity mining event has proven quite popular and helped to lift its native AVAX token back above $50 for the first time since February.

In the first half of the year, DeFi tokens rallied early and were followed by a surge in the price of NFTs and NFT-related assets. As summer draws to a close and NFTs notch new eye-watering record sales and volumes each day, it's possible that a sector rotation could occur soon and the DeFi sector may be warming up for a run of its own.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

https://ift.tt/38eCAQY
Labels:

Comments

Post a Comment

Popular posts from this blog

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
Read more

Year of sponsorships: Celebrities who embraced crypto in 2021

From Matt Damon appearing in a TV spot for Crypto.com to Kim Kardashian shilling EthereumMax, 2021 saw celebrities with higher profiles getting into crypto. Though the crypto space has seemingly moved beyond the endorsements many minor celebrities bestowed on token projects during the 2018 initial coin offering boom, its growing popularity and acceptance now has professional sports players, Hollywood elites and politicians backing major companies dealing with digital assets. In June 2021, Kim Kardashian promoted EthereumMax (EMAX) via an Instagram story shared with  her more than 200 million followers . The token, which was used as payment for online ticket purchases for some pay-per-view events, gained 116,000% in just one week following the celebrity’s activity before falling more than 99% and leaving many investors in the red. Kim Kardashian promoting EthereumMax on Instagram Stories, June 2021. Source: Instagram Though EthereumMax is somewhat of a cautionary tale for cry...
Post a Comment
Read more

Top 3 Rebase Token Markets Shudder — Stats Show TIME, OHM, BTRFLY Lost Billions Since All-Time Highs

While the crypto economy has shed more than 3% in fiat value during the last 24 hours dropping to $2.09 trillion, the top rebase tokens by market capitalization have seen significant losses this week. At the time of writing, the rebase token economy is valued at over $3.2 billion but has lost more than 10% in value during the last 24 hours. The largest rebase token economies such as Wonderland, Olympus, and Redacted Cartel have shed between 36% to 55% over the last week. Top 3 Rebase Token Protocols Shed Billions in Value Over the Last Week, Wonderland Down 87% Since High On the first day of November 2021, Bitcoin.com News took a deep dive into the Olympus DAO and the reserve-backed asset called OHM . Olympus is a decentralized finance (defi) project that is described as a rebase token and since Olympus started, a myriad of Olympus forks have been born. Essentially, rebase token protocols adjust the token supply in a periodic fashion or when the price fluctuates. Olympus was once ...
Post a Comment
Read more