Litecoin Is Now the Miami Dolphins' 'Official Cryptocurrency'

The Miami Dolphins, a popular American football team, have recently partnered with the Litecoin Foundation to start accepting cryptocurrency payments.

According to press release published on Thursday, the partnership between the Litecoin Foundation and the Miami Dolphins will become active in the 2019 NFL season and will see the Dolphins start accepting litecoin payments as their “official cryptocurrency.”

This means American football fans will be able to buy tickets to see games at the team’s Hard Rock Stadium using both litecoin and bitcoin through the team’s 50/50 raffle, which gives half of the proceeds to a charitable organization, the Miami Dolphins Foundation.

The cryptocurrency payments are set to be handled by a third partner in the partnership, a payments processing firm called Aliant Payments. The press release touts the partnership will give Litecoin “the ability to tap into one of the NFL’s largest and most passionate fan bases through in-game branding and advertising opportunities at Hard rock Stadium.”

Charlie Lee, the creator of Litecoin and the managing director of the Litecoin Foundation, was quoted as saying:

This collaboration propels Litecoin in front of an audience of millions of people around the world at a time where adoption of cryptocurrencies continues to gain momentum and the ecosystem is able to support real world use cases in ways previously not possible.

Lee added the Litecoin Foundation sees this is as a “powerful way to raise awareness and educate people” about litecoin and the cryptocurrency space on a “tremendous scale.” Kim Rometo, the vice president and chief information officer of the Miami Dolphins, noted the partnership will provide its guests the ability to enjoy the 50/50 raffle while donating for charity.

The Liteocin Foundation, a non-profit organization looking to help grow LTC adoption, has notably been making progress over the last few months. Back in December, it partnered with the Ultimate Fighting Championship (UFC), a leading mixed martial arts organization, to display the Litecoin logo in a title match.

Recently, litecoin was added to cryptocurrency payments startup Flexa’s SPEDN mobile wallet app, allowing users to pay using the cryptocurrency at over 39,000 merchants.

Derivatives Trading Platform Synthetix (SNX) Is up Over 5,000% Since 2019

Michael LaVere
  • Derivatives trading platform Synthetix is the best performing DeFi product since April 2019.
  • Synthetix's native token SNX has appreciated more than 5000 percent over the last two years. 

The little-known crypto-asset Synthetix (SNX) is the best performing decentralized finance (DeFi) project of the past two years. 

According to a tweet published by popular crypto analyst Alex Saunders, SNX has been the best performing DeFi asset since April 2019. Saunders claims that Synthetix has appreciated 5000% over the past two years and was one of the top two ETH-based projects he has been following since Edcon Sydney 2019. 

SNX’s price took off in June, from $0.79 at the start of the month to its current trading price of $2.73, representing a 245% increase. 

Synthetix is a derivatives trading platform built on the ethereum blockchain that allows users to trade on stocks, crypto and other commodities. Users are required to exchange bitcoin or ethereum for SNX tokens in order to participate in trading. 

The exchange’s native token can be locked as collateral to produce “synths” such as a synthetic U.S. dollar (sUSD), which in turn can be used to place bets on rising and falling asset prices. 

Synthetix also operates a reward program, where users of the exchange can stake their SNX tokens as collateral in order to receive additional benefits.

Featured Image Credit: Photo via Pixabay.com