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Showing posts from January 30, 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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Altcoin Roundup: Cross-chain bridge tokens moon as crypto shifts toward interoperability

MULTI, SYN and CELR saw a substantial boost in price as the crypto ecosystem focused on integrating cross-chain interoperability as a new fundamental component in DeFi. Interoperability is shaping up to be one of the main themes for the cryptocurrency market in 2022 as projects across the ecosystem unveil integrations that make their networks Ethereum ( ETH ) Virtual Machine (EVM) compatible. While this has been one of the long-term goals of the ecosystem as a step on the path to an interconnected network of protocols, it has also created a new decentralized finance (DeFi) market for multi-chain bridges and decentralized finance. Here are three of the top volume cross-chain bridges that the cryptocurrency community uses to transfer assets between blockchain networks. Multichain Multichain (MULTI), formerly known as Anyswap , is a cross-chain router protocol that aims to become the go-to router for the emerging Web3 ecosystem. According to data from Defi Llama, Multichain is the ...
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Ethereum Fees Drop 53% in 20 Days — Polygon Hermez, Loopring Offer Lowest L2 Fees

Ethereum’s average network fees have dropped to the lowest value in 30 days at 0.0096 ether or $24.64 per transaction. Median-sized ethereum fees are lower today as well, as fees are between $8.37 to $10.82 per transaction as ether fees haven’t been this low since January 1. Onchain Ethereum Fees Drop, Current Bitcoin Fees 91% Cheaper Than Ethereum Fees It’s cheaper today to send ethereum ( ETH ), as network fees are 0.0096 ETH or $24.64 on average to send the second leading crypto asset. On January 30, 2022, ethereum has a 24-hour price range of around $2,575 to $2,647 per unit. Average-sized ETH fees haven’t been this low since January 1, 2022, when the average-sized fee (ASF) was $25.75 per transfer. Ethereum fees reached a high on January 10, at $52.46 per transaction and the current ASF today is 53.03% lower than the high. Median-sized fees (MSF) on Ethereum are also lower today, as the MSF on ETH on January 10, is $29.92 per transfer. Statistics show MSF on Ethereum t...
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Clever NFT traders exploit crypto’s unregulated landscape by wash trading on LooksRare

LooksRare aims to be an alternative to OpenSea, but the amount of wash trading on the platform raises questions on whether users really view it as a viable competitor. LooksRare made its debut on Jan.10 and the recently launched NFT marketplace has drawn a lot of attention, not only because its daily trade volumes were more than double Opensea’s on the second day of trading, but also because it has become the new playground for wash traders. Wash trading is a series of trading activities involving the same trader buying and selling the same instrument simultaneously, creating artificially high trading volume and a manipulated market price for the asset in play. In the United States, wash trading in traditional financial markets has been illegal since 1936 and the most recent highly publicized scandal related to wash trading is the manipulation of LIBOR in 2012. While wash trading has been highly regulated and closely monitored by exchanges and regulators, it seems to have found it...
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Crypto Ban in Russia Can Have Opposite Effect, Medvedev Warns as Opposition Mounts Against Proposal

Dmitry Medvedev, former president and prime minister of Russia, has voiced his concerns over Bank of Russia’s initiative to ban most crypto operations. Prohibition could bring the opposite result, the Russian politician warned, joining a chorus of opinions against the restrictive policy. More Officials and Organizations Reject Central Bank’s Call to Prohibit Cryptocurrency Central Bank of Russia’s proposal to place a number of crypto-related activities outside the law has sparked a wave of reactions in Moscow. Among the critics are the Finance Ministry which put out its own regulatory concept, the State Duma where deputies are working on a new crypto law, and the government which prepared a roadmap for crypto regulation together with various departments. The central bank’s position has its reasons, Dmitry Medvedev, who now serves as deputy chairman of the Security Council of the Russian Federation, acknowledged in an interview with Russian media. The monetary authority has cited...
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Top 5 cryptocurrencies to watch this week: BTC, LINK, HNT, FLOW, ONE

BTC is attempting to form a bottom while LINK, HNT, FLOW and ONE are showing early signs of accumulation. Bitcoin’s ( BTC ) relief rally rose above $38,500 on Jan. 29, but the bulls are struggling to sustain the higher levels. For the past few days, Bitcoin’s sentiment has closely followed the U.S. equity markets. Hence, analysts warned traders to be careful and not to read much into any possible weekend rallies when traditional markets are closed because it could be a trap. However, analysts at trading suite Decentrader said in a recent report that a “near-term relief bounce” is possible. The report also highlighted that “meaningful buyers” were stepping in and that could result in “a potential change in the higher time frame trend from bearish to bullish.” Crypto market data daily view. Source: Coin360 The recent downturn in Bitcoin seems to have turned the JPMorgan analysts bearish as they believe the increased volatility could “hinder further institutional adoption.” In ...
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Stablecoin Issuance Surged Last Year — UST Saw the Largest 12-Month Increase

Stablecoins have become prominent payment rails in the world of cryptocurrencies commanding $177 billion in fiat value today. The top ten stablecoins by market capitalization represent the largest share of the value in the fiat-pegged coin economy and many of these tokens grew exponentially last year. Terra’s UST stablecoin grew the most last year, jumping 5,431% in 2021. A Deep Dive Into Stablecoin Growth During the Course of 2021 Stablecoins today represent 9.77% of the $1.8 trillion crypto-economy today which is $177 billion in USD value. While many digital assets surged in growth last year, stablecoins also saw their market valuations swell as issuance grew month after month. Tether ( USDT ) is the top stablecoin, in terms of market capitalization with $78.3 billion. USDT alone represents 4.32% of the entire crypto economy’s $1.8 trillion and amid the $177 billion stablecoin economy, USDT towers over the pack by 44.24%. On January 2, 2021, tether ( USDT ) had a market cap of...
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