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 all-time highs 'just a matter of time' after a BTC ETF approval looks certain

Bitcoin price spikes above $61,800 as the promise of a BTC ETF approval reignites the discussion on whether the top-ranked cryptocurrency will hit $100,000 by the end of the year.

Optimism is bordering euphoria in the cryptocurrency market after a trove of documents pointing toward the eventual approval of Valkyrie's Bitcoin (BTC) ETF application by the U.S. Securities Exchange Commission before the end of the month. 

Data from Cointelegraph Markets Pro and TradingView shows that the price action for BTC spiked in the early trading hours on Friday with bulls managing to rally to an intraday high at $61,880, marking the first time BTC has surpassed $60,000 since April.

BTC/USDT 1-day chart. Source: TradingView

Here’s what traders and analysts are saying about what comes next for Bitcoin now that the price is back above $60,000 and the long-awaited Bitcoin ETF look ready to become a reality.

On the precipice of a massive breakout

According to cryptocurrency analyst and pseudonymous Twitter users Rekt Capital, Bitcoin’s move on Friday has it trading just below a major resistance level that is the last barrier standing in its way from exploding into uncharted territory.

From this perspective, if BTC can manage to post a weekly close above this level, there is “exponential upside” potential as price discovery will not be hampered by previously establish resistance zones while bulls will attempt to fulfill the calls for a $100,000 BTC price.

Analysts say crypto markets are maturing

Insight into the long-term trajectory of the cryptocurrency ecosystem was provided by Konstantin Shugla, CEO and co-founder of Finery Markets, who indicated that “crypto markets are going the same maturity route as other traditional asset classes.”

According to Shugla, the growth in the sector is beginning to attract “a new level of mass institutional adoption that no firm can ignore anymore,” and the approval of an ETF will likely result in more institutional and retail inflows “from investors that were previously concerned with infrastructure/regulation risks.”

Shugla said:

“That will cause more volume and arbitrage opportunities for underlying instruments. I expect both historic records in terms of pricing and volumes can be hit in October and November.”

Related: Bitcoin gets green light for price discovery with ‘almost no supply’ on exchanges above $59K

New all-time highs are coming in “just a matter of time”

A more technically-grounded perspective of the recent price action was provided by crypto trader and pseudonymous Twitter user Pentoshi, who posted the following chart outlining major support and resistance zones.

BTC/USD 3-day chart. Source: Twitter

According to Pentoshi, Bitcoin has now “taken out the macro lower high from when it topped” and started to form lower lows and lower highs, and now looks to form “a new trend of higher highs and higher lows.”

Pentoshi said,

“It's only a matter of time before all-time highs with this structure.”

The overall cryptocurrency market cap now stands at $2.443 trillion and Bitcoin’s dominance rate is 46.4%.

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/3BPI0yY
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