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

Robinhood share price down 70% from August high

Market analysts are nonplussed by HOOD stock price as long as it continues to ramp up its presence in the cryptocurrency trading space.

As Robinhood struggles with its declining share price, could ramping up its cryptocurrency offerings help boost the company’s outlook?

Robinhood is a financial services company that also acts as a retail trading platform for ordinary users. It's known for meme stocks and currently offers seven cryptocurrencies for trading.

Since Aug. 4, Robinhood (HOOD) has fallen nearly 70% from its ATH of $70.39 to $25.94, and it’s been below the $38 IPO price for weeks. Several factors are contributing to the fall, such as a drop in crypto and meme stocks day trading as the pandemic era comes to an end and people return to their offices to work.

Robinhood enjoyed big gains in Q2 2021 when Dogecoin (DOGE) trading accounted for 41% of Robinhood’s total revenue, and 62% of the $233 million generated by cryptocurrency trading.

However, cryptocurrency trading fell 79% in Q3 and only accounted for 19% of its total revenue.

Chris MacDonald, a contributor to TipRanks, still believes that cryptocurrency iks the key to Robinhood’s long term success.

“Robinhood appears to continue to ramp up its efforts to become the most-utilized exchange out there. Those who think crypto is real and here for the long haul may want to take a close look at this company right now.”

There is also a big demand for Robinhood to launch its wallet feature, which currently has over 1.6 million users on the waitlist. That’s about 7% of its total user base as of the end of Q3 2021. While some are planning to trade more with the wallet others may simply want to withdraw their existing tokens from Robinhood’s platform.

The brokerage has not said anything definitive about listing Shiba Inu (SHIB). There's a big push on from the community including a petition to list SHIB on Robinhood that currently has 541,000 signatures. Competitor Kraken this week launched SHIB trading which was followed by a 30% increase in the price. Such price action may help convince Robinhood of the merits of listing the memecoin given the potential to repeat the growth it experienced from the DOGE trading frenzy in Q2.

Related: Robinhood exec says proposal for a single digital asset regulator is stupid

Despite the current price doldrums Wall Street appears to view HOOD favorably for now. Nasdaq has indicated an average price target of $45 from 13 analysts, which represents 73.3% upside potential.

https://ift.tt/3d7xXdW
Labels:

Comments

Post a Comment

Popular posts from this blog

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

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

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