Skip to main content

Posts

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
Read more

Almost all major Bitcoin mining pools now signaling for Taproot activation

The largest Bitcoin mining pools are signaling for Taproot but the activation may not reach the 90% critical consensus mark during this current difficulty epoch. Nine out of the top-10 Bitcoin ( BTC ) mining pools by hash rate distribution are now signaling for Taproot activation with BTC.TOP being the only exception as of the time of writing. Indeed, 90% of Bitcoin’s hash rate briefly signaled for the protocol upgrade with the figure now standing at about 73%. Tweeting on Monday, crypto exchange giant Binance announced that Binance Pool had begun signaling for Taproot. According to the Taproot Signal Twitter bot, Binance Pool’s maiden Taproot signal occurred at block height 683,878. Based on community feedback, #Binance Pool has begun signaling for Taproot. It is estimated that #Binance Pool will fully support Taproot before Friday this week. https://t.co/eukp3FlEA8 — Binance (@binance) May 17, 2021 As previously reported by Cointelegraph, the two largest Bitcoin mining ...
Post a Comment
Read more

Elon Musk tweets BTC price bottom? 5 things to watch in Bitcoin this week

It's all about Elon as Twitter provides the backdrop to an ongoing battle between hodlers and the "Dogefather." Bitcoin ( BTC ) is nearing $40,000 this week as “Dogefather” Elon Musk deals out pure pain to hodlers — what’s next? After a traumatic weekend for many crypto investors, Monday is setting the stage for the next chapter in the wild 2021 bull market. Cointlegraph takes a look at five factors which could shape what Bitcoin and altcoins do next. Musk tweet hits key Bitcoin technical level It’s all about one man yet again this week: Elon Musk. In characteristic fashion, the Tesla and SpaceX CEO caused uproar on Twitter when he came out bearish on Bitcoin. BTC/USD sold off immediately on news that Tesla was halting BTC payments for its products, but for Musk, this was not enough. Further tweets over the weekend, including criticism of Bitcoin’s decentralization and how he “believes in crypto,” added fuel to the fire. It was a hint that Tesla may already be p...
Post a Comment
Read more

Bitcoin and Ethereum usage fees drop 70–80% as market slide continues

Transaction fees are falling rapidly on Bitcoin and Ethereum, as the coin prices of both recede from recent peaks. Transaction fees on Bitcoin and Ethereum have fallen by 81% and 71% respectively over the last few weeks, as the broader cryptocurrency market continues to descend from its recent all-time high. The average cost of using the Ethereum blockchain fell from $69.92 per transaction on May 12, to $20.06 by May 16, according to data from Bitinfocharts. In the same time period the Ether ( ETH ) spot price both peaked and crashed, falling from an all-time high of $4,358 on May 12, to $3,183 just prior to publication — a 27% decline. Before 2021’s market surge, Ethereum’s current average fee of $20 would have been an all-time high by some margin. As recently as 2020, average usage costs were lower than $0.10. The rapid surge in the cost of using Ethereum comes after the emergence of decentralized finance apps — which now make up four out of the top five gas burners on the blo...
Post a Comment
Read more

Elon Musk Discloses ‘Tesla Has Not Sold Any Bitcoin’

Amid speculation over the weekend that Tesla may have sold its bitcoins, CEO Elon Musk has clarified that the electric car company “has not sold any bitcoin.” The Technoking of Tesla got into a heated debate with the bitcoin community Sunday after he announced that Tesla has suspended accepting bitcoin for payments due to environmental concerns. Elon Musk Confirms Tesla Has Not Sold Its Bitcoins Tesla CEO Elon Musk got into a string of heated discussions with bitcoiners on Sunday which led to speculation that Musk’s electric car company may have sold its bitcoins or is planning to sell them shortly. The discussions started after Musk announced that Tesla has suspended accepting bitcoin for payments due to environmental concerns. Meanwhile, the price of bitcoin plummeted . To end speculation, Musk confirmed early Monday morning that Tesla has not dumped its bitcoins. He wrote : “To clarify speculation, Tesla has not sold any bitcoin.” This clarification concurred with the stateme...
Post a Comment
Read more

Banking system consumes two times more energy than Bitcoin: research

According to Galaxy’s estimates, the annual energy usage of Bitcoin stands at 114 TWh, while the banking industry consumes over 260 TWh each year. Amid the ongoing concerns over Bitcoin's ( BTC ) energy consumption, a new study states that the traditional banking system consumes much more energy than the Bitcoin network. Michael Novogratz ’s cryptocurrency firm Galaxy Digital released  a report Friday titled “On Bitcoin’s Energy Consumption: A Quantitative Approach to a Subjective Question,” providing open-source access to its methodology and calculations. Compiled by Galaxy’s mining arm, the study estimates Bitcoin’s annual electricity consumption to stand at 113.89 TWh, including energy for miner demand, miner power consumption, pool power consumption, and node power consumption. This amount is at least two times lower than the total energy consumed by the banking system as well as the gold industry on an annual basis, according to Galaxy’s estimations. Source: Galaxy Dig...
Post a Comment
Read more

Bitcoin market dominance falls to three-year low of 40%

Altcoins have risen to a three-year dominance high after tagging a record combined capitalization of nearly $1.5 trillion last week. While Bitcoin tumbles in response to Elon Musk’s Twitter account yet again , altcoin dominance has surged to its highest level in roughly three years. As of this writing, Bitcoin represents 40.3% of the combined crypto asset capitalization — the lowest it has been since June 2018, according to CoinMarketCap. Bitcoin hit a market dominance low of 33% in January 2018 when it was cooling from its previous peak while the altcoins were just hitting theirs. It is currently not far off its second lowest level of 36%, three years ago in May 2018. Bitcoin dominance: CoinMarketCap The combined capitalization of altcoins is currently sitting at $1.25 trillion after establishing all-time highs of almost $1.5 trillion last week. Ethereum has recently seen its dominance surge, with Ether’s capitalization creeping up to roughly half of Bitcoin’s to represent a ...
Post a Comment
Read more

Vitalik burns $6.7B of Shiba to reward generous hodlers

Vitalik Buterin has burned nearly half of Shiba’s supply in response to the “generosity” of the ‘dog token communities.’ Ethereum co-founder Vitalik Buterin has burned nearly half of the supply of the popular Dogecoin clone, Shiba Inu (SHIB). In a statement embedded into the transaction on May 16, Vitalik Buterin explained why he decided to burn $6.7 billion worth of SHIB tokens, emphasizing the “generosity” of the “dog token communities.” “I’ve actually been impressed by how the dog token communities have treated the recent donations! Plenty of dog people have shown their generosity and their willingness to not just focus on their own profits but also be interested in making the world as a whole better. I support all who are earnestly doing that.” The recent dog-themed bull run came to an abrupt end on May 12 as Buterin liquidated trillions of the tokens he was gifted by Shiba’s creators and donated the proceeds to charity. The Ethereum co-founder said he decided to burn the r...
Post a Comment
Read more