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 could 'consolidate until 2022' after mass wipeout sends BTC price to $41K

$2.5 billion liquidated across cryptocurrency in a mass rout which sends Bitcoin price action back to the end of September.

Bitcoin (BTC) traded near $47,000 on Dec. 4 after a sudden crash confirmed bulls' worst nightmares with 22% daily losses.

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

Crypto liquidations pass $2.5 billion

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting local lows of $41,960 on Bitstamp — its lowest since Sep. 30.

As panic set in, leveraged positions unwound and traders capitulated, 24-hour cross-crypto liquidations passing $2.5 billion.

Crypto liquidations chart. Source: Coinglass

"$50k is likely to be resistance for a decent amount of time now unless stonks to incredible things," filbfilb, co-founder of trading platform Decentrader, summarized in a fresh synopsis after the move.

"Size of dump & distribution likely to mean consolidation into Q1 next year. Moon mission is not dead but some will think cycle over."

The scale of the dip wiped out some important support levels, including Bitcoin's $1 trillion asset valuation — previously a popular choice for long bets.

As Cointelegraph reported, concern over traders' behavior was present as recently as Friday, as data showed that the market could easily be overleveraged at previous levels nearer $60,000.

With that leverage now all but flushed out, optimism among familiar faces remained, with Cointelegraph contributor Michaël van de Poppe announcing the sub-$42,000 spike as a "bottom."

"We're still in a bull market," he added.

Bitcoin meanwhile just avoided an attack on $40,000 support, something which would be a reason to "flip bearish" should it form weekly resistance, analyst TechDev said.

"Wait. Relax. Market will reveal," he told Twitter followers.

"If cycle bull phase deviates substantially from history, expect any bear phase to do the same."

Ethereum preserves strength on BTC pair

A small silver lining came from Ether (ETH) on the day, which neared a rematch of its highest levels since mid 2018. 

Related: Ethereum ‘about to go parabolic’ against Bitcoin as analysts weigh BTC bear case

Losing less than Bitcoin in the crash versus the dollar, ETH/BTC bucked the trend to pass 0.0831.

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

All of the top ten cryptocurrencies by market cap were down over 10% against the U.S. dollar, however, led by Polkadot (DOT) with 21%.

https://ift.tt/31k8hJ2
Labels:

Comments

Post a Comment

Popular posts from this blog

Bitcoin Legal Tender in 3 Days but Survey Shows 7 Out of 10 Salvadorans Want Bitcoin Law Repealed

Bitcoin is becoming legal tender in El Salvador in three days. However, a nationwide survey conducted by the University Institute of Public Opinion (Iudop) shows that seven out of 10 Salvadorans want the government to repeal the Bitcoin Law. El Salvador’s Bitcoin Law Goes Into Effect in 3 Days The University Institute of Public Opinion (Iudop) in El Salvador conducted a study between Aug. 13 and Aug. 20 of how the public views the country’s upcoming Bitcoin Law. The institute is a research center of the José Simeón Cañas Central American University (UCA). El Salvador’s Bitcoin Law is set to go into effect on Sept. 7 , when BTC will be legal tender in the country alongside the U.S. dollar. A total of 1,281 respondents ages 18 and over participated in this national survey that “represents the entire adult population residing in the country,” according to the institute. Out of all the respondents, 62.4% said they were aware of the approval of the Bitcoin Law by the deputies of the ...
Post a Comment
Read more

Bitcoin breaking new highs in Q4 will ‘temporarily turn alts to dust’ — Analyst

Things will get exciting in quarter four, but not before a convincing floor is put in across crypto, analysts say this week. Bitcoin ( BTC ) was busy losing its overnight gains on Sept. 27 as resistance continued to prove too much for bulls.  BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Analyst on Bitcoin: “Right now, we’re stuck” Data from Cointelegraph Markets Pro and TradingView  showed BTC/USD dropping to around $1,000 below overnight highs of $44,400 on Bitstamp on Sept. 27.  The move constitutes a rejection at a “critical” zone to break, Cointelegraph contributor Michaël van de Poppe explained, with $42,000 now the key level to hold for a higher low. Bitcoin is acting in an increasingly narrow range, he summarized in his latest YouTube update. “Right now, we’re stuck,” he said, pointing to $47,000 as next should the $44,600 zone be reclaimed. On the downside, the zone between $38,000 and $40,000 remains valid for a bounce, while a co...
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