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Showing posts from January 19, 2022

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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Tom Brady's NFT platform Autograph raises $170M to scale operations

The company said it planned to use the funds to scale its NFT technology and hinted at a series of partnerships aimed at expanding its user base. The nonfungible token (NFT) marketplace Autograph co-founded by Super Bowl champion Tom Brady has announced it closed on a $170 million funding round. In a Wednesday announcement, Autograph said Andreessen Horowitz, or a16z, and VC firm Kleiner Perkin co-led the $170-million Series B round with contributions from crypto investor Katie Haun’s firm, Nicole Quinn of Lightspeed Venture Partners, and San Francisco-based venture firm 01A. The company said it planned to use the funds to scale its NFT technology and hinted at a series of partnerships aimed at expanding its user base. In addition to the funding round, Haun, a16z general partner Arianna Simpson, and Kleiner Perkins partner Ilya Fushman will join Autograph’s board of directors, with a16z general partner Chris Dixon joining the firm’s board of advisors. According to the new members,...
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Bitcoin Dominance Increases, ETH’s Market Share Slides, Stablecoin and Smart Contract Coins Rise

On Wednesday, the crypto economy of 12,620 coins across 543 exchanges is hovering just above the $2 trillion mark. Ever since the crypto economy’s market slump, bitcoin’s market dominance among all the coins in existence has slowly risen from 37% zone back over the 38% range. Meanwhile, Ethereum’s market dominance has diminished as it has slid from 18.6% to 17.7% since January 6. Bitcoin and Ethereum Dominance Shifts, Top Stablecoin and Smart Contract Tokens Command More Than 44% of the $2 Trillion Crypto Economy Bitcoin’s (BTC) market dominance has increased while ethereum’s (ETH) crypto-economy dominance has decreased over the last two weeks. Market dominance is the crypto asset’s overall valuation compared to the entire $2.08 trillion crypto market economy. On January 6, 2022, BTC ’s dominance slid to its lowest position in three years (37.7%) since June 3, 2018. The metric has increased to the 38% region while ethereum’s market dominance dropped from 18.6% to 17.7%. A myriad...
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2 key Bitcoin trading indicators suggest BTC is ready for a 62% upside move

BTC derivatives metrics currently mirror late-September readings which preceded a strong 62% move in Bitcoin price. Bitcoin ( BTC ) has been below $45,000 for 14 days and is currently 40% below the $69,000 all-time high. This movement holds similarities to late-September 2021, when Bitcoin price flat-lined for 11 days and was 36% below the previous $64,900 all-time high on April 14. Bitcoin price at Coinbase, USD. Source: TradingView To understand whether the current price momentum mimics late September, traders should start by analyzing the Bitcoin futures contracts premium, which is also known as "basis." Unlike a perpetual contract, these fixed-calendar futures do not have a funding rate, so their price will differ vastly from regular spot exchanges. By measuring the expense gap between futures and the regular spot market, a trader can gauge the level of bullishness in the market. Excessive optimism from buyers tends to make the three-month futures contract to trade...
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BIS general manager: Central banks generate trust, not big techs or “anonymous ledgers"

According to the boss of the international institution owned by central banks, it is central banks that are best positioned to shape the future of money. In a speech entitled “ Digital currencies and the soul of money,” Agustín Carstens, the general manager of the Bank of International Settlements, criticized private stablecoins and decentralized finance (DeFi), touting central bank-led financial innovation as the best possible path to the future of money. Carstens, who served as governor of the Bank of Mexico between 2010 and 2017, delivered his remarks at the conference on "Data, Digitalization, the New Finance and Central Bank Digital Currencies: The Future of Banking and Money" at the Goethe University in Frankfurt. The economist’s argument revolved around the institutional foundations of money and how, even in the digital age, central banks remain in a position to provide trust in money and ensure “an efficient and inclusive financial system to the benefit of all.”...
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Ethereum Fees Drop 35% Since Last Week, Average ETH Gas Fee Still Above $30 per Transfer

According to statistics, Ethereum network transaction fees have dropped 35% from the transfer fees recorded seven days ago. At the time of writing, the average fee to transact with ethereum is 0.0099 ether or $30.85 to $33.04 per transfer. The cheapest Layer two (L2) method to transfer ether on Wednesday is $0.25 per transaction using Polygon Hermez. It’s Cheaper to Move Ethereum Today, Network Still Has Higher Transfer Fees Than Most Blockchain Networks While data transfer fees on the Ethereum network have slid 35% in the past week, fees are still considerably higher than most smart contract networks. Seven days ago, ETH fees were $51.24 per transfer and today, metrics indicate it costs $30.85 to $33.04 in gas per transfer. The fee data only accounts for moving ethereum ( ETH ) as it costs more to interact with a smart contract to move an ERC20 or swap tokens. The average transaction fees on the Ethereum network are some of the highest fees paid to miners. Median-sized transact...
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