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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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Bitcoin Dips Below $44K, Crypto Economy Drops 4.5%, Traders Rush to Stablecoins

Bitcoin Dips Below $44K, Crypto Economy Drops 4.5%, Traders Rush to Stablecoins

The price of bitcoin dropped below the $44K zone on Wednesday to $43,678 per unit as the entire crypto-economy has shed billions in value. At the time of writing, the overall crypto economy is down 4.5% as it dipped to $2.25 trillion in value.

Bitcoin and Crypto Economy Sheds Billions, Crypto Fear & Greed Index Indicates ‘Extreme Fear’ Is in the Air

  • Bitcoin (BTC) slid in value today, roughly 5.4%% during the last 24 hours. Just after 3:00 p.m. (EST) prices dipped from $46K to $43,678 per unit. BTC’s price is just below the $44K price range against the U.S. dollar.
  • The entire crypto-economy of more than 12,000 crypto assets is down 4.5% and around $2.25 trillion in value. Leading assets like ethereum (ETH) dipped 5.9% and solana (SOL) shed 7.8%.
  • At the time of writing BTC has $25.9 billion in global trade volume and tether (USDT) commands $53 billion in global swaps. The biggest loser in the top-ten crypto markets was terra (LUNA) as it shed 9.2%.
  • Crypto assets that didn’t get affected by BTC’s downward slide include chainlink (LINK), olympus (OHM), and leo token (LEO). Convex finance (CVX), spell token (SPELL), and axie infinity (AXS) suffered the biggest losses during the market rout.
  • The stablecoin market captures $58.8 billion of today’s $98.5 billion in trades. Out of the $2.25 trillion today, stablecoins represent $166.4 billion of the value.
  • Currently, BTC’s market cap is around $836.2 billion in value while ethereum’s (ETH) is $427.7 billion. BTC dominance has dropped significantly and to the lowest point in more than three and half years.
  • BTC dominance today is 37.5% the lowest its been since June 2018, while ETH dominance is 19.2%.
  • At press time, BTC is holding above $44K per unit but has a $ 24-hour range of $46K to $43.7K on Wednesday. Stablecoins have also been feeling the brunt as many are trading a cent or two under the $1 peg.
  • The stablecoin USDC and its market valuation of around $42.6 billion is now the sixth-largest market cap today. USDC has seen $2.6 billion in global trade volume during the last 24 hours and is trading for $0.99 per unit.
  • Metrics from the Crypto Fear & Greed Index show “extreme fear” is the sentiment for today with a score of 24 at the time of writing.

What do you think about today’s market action? Let us know what you think about this subject in the comments section below.

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