Schlagwort: blockchain markets

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Fantasy NFT trading platform Sorare Partners With Major League Baseball

Sorare, a fantasy football game that allows players to trade, sell, buy, and manage their virtual team with digital player cards, has announced that it has partnered with Major League Baseball (MLB). 

Sorare platform is one of the largest fantasy NFT platforms and it was valued at $4.3 billion last year.

MLB will allow its players to work together with Sorare to launch the first MLB NFT game (free-to-earn) that is expected to be released this summer.

NFT Baseball game to offer more exclusive features

As the official MLB partner, the Sorare platform will enable its fans to share and celebrate their passion through gaming. This will be the first gaming venture that Sorare has ever had beyond football.

Sorare co-founder and chief executive officer, Nicolas Julia, said:

‘’MLB has been at the forefront of interactive games for decades, while baseball has some of the oldest and most established forms of sports memorabilia. Today, as digital engagement and technology evolves for a new generation, our partnership will help a new and broader fanbase to connect with America’s pastime…The connection between Americans and baseball is enduring. And baseball has always been on the cutting edge of new technologies and innovations, so we’re proud that MLB and the MLBPA have chosen Sorare to deliver an NFT MLB Game to fans globally.”

The MLB game will allow their fans to create the best NFT teams that represent Major League players and connect with clubs, athletes, and leagues in a live Baseball game experience.

Besides, Sorare has been making progressive moves from the beginning developing some experiences that go beyond the collection of NFTs. Sorare has also been developing these experiences by combining the digital assets with free-to-play games so that the fans can be able to manage their favorite players as well as win weekly rewards and unlock utility for NFTs.

Involving the fans

With the new Baseball NFT game, there is a great opportunity for the league to attract new fans across the world as well as introduce the existing baseball fans to the other group of 1.8 million registered Sorare users across 185 countries.

Commissioner of Baseball, Robert D. Manfred Jr, said:

“The connections we build with our fans are vital and Sorare understands the importance of that bond.” 

The post Fantasy NFT trading platform Sorare Partners With Major League Baseball appeared first on Coin Journal.

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Terra blockchain restarts after a brief halt

Validators had halted the blockchain to prevent governance attacks as LUNA price moved towards zero.

Terra validators on Thursday moved to halt the blockchain as they looked to prevent any possible governance attacks, the Terra Twitter account noted.

Per the platform, the network was “officially halted at a block height of 7603700” with validatoes electing to take the step “following severe $LUNA inflation and a significantly reduced cost of attack.”

“The Terra blockchain has resumed block production. Delegations are disabled now that the chain is live with the new code merge. Validators, please check the Discord announcements for the latest patch notes,” Terraform Labs tweeted not long after the halt.

As it was, Terra’s depreciation had made it possibly very easy for malicious actors to attack the network.

The LUNA token price has tanked to $0.01, losing virtually 100% of its value in the past few days, with the ‘death’ of the coin coming amid a combination of a broader crypto crash and the collapse of the UST stablecoin after it lost its dollar peg.

TerraUSD (UST) is currently around $0.34 and is finding it hard to repeg even as Terraform Labs and the Luna Foundation Guard work to rescue the coin.

The post Terra blockchain restarts after a brief halt appeared first on Coin Journal.

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Dogecoin drops 15% after Anon Whales shift 250 million DOGE

Dogecoin (DOGE), the largest meme crypto, has dropped by more than 15% in the last 24 hours after Anon whales shifted 250 million DOGE with half of the amount going to Robinhood.

At the time of writing, DOGE was trading at $0.07903, down 15.51% after retracing from a daily high of $0.09932.

Half of the amount transferred to Robinhood

According to a tweet by @DogeWhaleAlert, an account that tracks big Dogecoin transfers, two transactions were carried out each exceeding 100 million, that is, 110,614,220, and 139,261,848 meme coins each worth $8,497,274 and $11,625,997 respectively. 

The second transaction of 139,261,848 Dogecoins was transferred to Robinhood, a popular US-based trading app that enables customers to invest in stocks and cryptos like Bitcoin, DOGE, Ethereum, Bitcoin Cash, Shiba Inu, Solana, and other popular coins.

Earlier this year, the service also started allowing customers to use local crypto wallets to deposit, store and withdraw digital currencies.

Yesterday, U.Today reported that Robinhood held 40,998,170,618 DOGE (worth $4,390,002,113) for its clients, which is approximately 30.90% of the DOGE circulating supply.

Recent DOGE activities

Following Terra UST dollar peg loss and the downtrend of Bitcoin, Dogecoin has also been trading sideways.

Currently, DOGE is 89.29% down from the all-time it had set last year, May 8, when it rallied to $0.7376 after Elon Musk, Tesla CEO and owner of SpaceX, called himself “The Dogefather” on Twitter and then debuted on Saturday Night Live (SNL).

However, Musk’s appearance on American TV resulted in a massive DOGE selloff but after three days dropped to $0.45.

The Tesla boss has been a major fan of DOGE and he has been mentioning the token a couple of times on his Twitter posts causing the token price to rally. However, as time went by his tweets’ effect started dimming and sometimes caused a short-term rally in the token price.

In January this year, Tesla Company started accepting Dogecoin payments for the selected merchandise in its online shops. But Musk commented on the move by saying that this was just an experiment and that he will see how it will go.

The post Dogecoin drops 15% after Anon Whales shift 250 million DOGE appeared first on Coin Journal.

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Sam Bankman-Fried explains why UST crash was ‘predictable’

Sam Bankman-Fried, entrepreneur, founder and CEO of FTX crypto exchange, tweeted that the crash of Terra’s UST and LUNA was ‘predictable’, generating a Twitter thread that has since gone viral. He said:  

A good point someone brought up recently: ‘Stablecoin’ is used to mean multiple different things. Just as the outside view skeptics predicted, during a large market move a stablecoin blew out.  Just not the stablecoin they predicted. Which was predictable, if you knew the details. This isn’t a comment about good vs bad–it’s about how important it is to know the details! 

SBF’s take on algorithmic stablecoins before the crash

In a Bloomberg interview with Joe Weisenthal, co-host of the Odd Lots podcast, SBF was asked about his take on the rise of algorithmic, partially-backed stablecoins. Weisenthal inquired:

One of the most interesting phenomenon happening right now is the rise of Luna and UST. Luna has this Treasury Reserve consisting of a lot of Bitcoin, which seems a little dicey, but some people say any idea of an algorithmically-backed stablecoin is a perpetual motion machine – it’s only a matter of time before it fails. Do you believe there can be a truly decentralized stablecoin? What do you make of these projects?

SBF: 

I do have some sympathy to the perpetual motion machine crowd here. They can serve some useful purposes, but if you do zoom out, right, and you say, this is a stablecoin, backed by volatile assets, what’s gonna happen in a big market move. Right? Like, you know how this plays out.

The screenshot of this exchange, posted on Twitter, attracted all kinds of comments. Here is one seemingly reasonable suggestion:  

Has someone thought of minting a decentralized stablecoin backed by a basket of tokens tied to commodities and securities? If it were done right, it might be less volatile than a stablecoin backed by Bitcoin.

The post Sam Bankman-Fried explains why UST crash was ‘predictable’ appeared first on Coin Journal.

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Tether to move over 1 billion USDT assets from Tron to Ethereum and Avalanche

After Terra’s UST stablecoin meltdown, there seems to be a storm within the stablecoin space with a second stablecoin and one of the most popular stablecoin, Tether (USDT) also losing its dollar peg. Following the recent developments, Tether has announced via a tweet that it shall coordinate a chain swap to move its USDT assets from the Tron blockchain to Ethereum and Avalanche blockchains.

In the announcement, Tether says that it plans to move one billion USDT assets from Tron to Ethereum and 20 million USDT assets from Tron to Avalanche. This will however not affect the total supply of the USDT stablecoins.

The announcement has come at a time when there is heightened fear arising from the recent TerraUSD stablecoin meltdown that has taken Terra (LUNA) coin down with it. Today, the price of USDT has shown some price fluctuations that have caused the stablecoin to even slip below $0.99 on many crypto exchanges.

USDT is the most traded stablecoin and investors are worried when it starts showing signs of struggle.

USDT is not like algorithmic stablecoins such as UST

In an interview, Tether’s CTO, Paolo Ardoino assured traders that the USDT stablecoin is not similar to algorithmic stablecoins like UST. He said:

“Tether has a Strong, conservative, and liquid portfolio that consists of cash & cash equivalents.” This includes treasury bills, money market funds, and commercial paper holdings.

Tether’s portfolio includes treasury bills, commercial paper holdings, and money market funds.

Ardoino also pointed out that while some are scared of the current stables hiccup, some traders are utilizing the opportunity by for example purchasing USDT below $1 and exchanging it for above $1 on Bitfinex and Tether’s official website.

The post Tether to move over 1 billion USDT assets from Tron to Ethereum and Avalanche appeared first on Coin Journal.