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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...
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Terra (LUNA) hits record $20B TVL, surpassing Binance Smart Chain

Terra becomes the second-biggest DeFi chain in terms of total value locked after Ethereum.

Terra (LUNA), an open-source stablecoin network, hit an all-time high of $20.05 billion in total value locked, or TVL, across its 13 product offerings, according to industry data. On Dec. 1, Terra's TVL was at $11.9 billion, signifying a 68% increase in less than a month. This means that the platform's users are investing in large quantities into the protocol to receive staking rewards. 

The price of LUNA, Terra's native token, is also steadily trending upwards, trading above $94 with a 31% increase in one week, according to Cointelegraph Markets Pro. The coin now has a total market capitalization of $34.8 billion, placing it in the top 10 crypto projects.

LUNA continues to be one of crypto's hottest performers. Source: Cointelegraph Markets Pro

In terms of TVL, Terra is now the second-largest DeFi network below Ethereum and above Binance Smart Chain. For reference, BSC has 225 products in its DeFi ecosystem and a TVL of $16.7 billion, which has been decreasing all month, while Ethereum has $155.7 billion in TVL.

Related: Price analysis 12/22: BTC, ETH, BNB, SOL, ADA, XRP, LUNA, AVAX, DOT, DOGE

Terra is an application-specific blockchain built on the Cosmos SDK and Tendermint consensus. Users can mint U.S. dollar-pegged stablecoins and convert those stablecoins into LUNA, the native staking and governance asset of Terra.

Within the Terra ecosystem, savings protocol Anchor (ANC) is topping the charts for the application with the highest TVL, which at the time of publication is $8.7 billion, according to DeFi Llama. Activity within ANC has most likely contributed to Terra's value increase.

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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...
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