Finally, we witnessed a good week for cryptocurrency market. After the dip that lasted more than a month, this week the market showed its strengths and each day of last week continued to regain its previous positions. We should also note the relatively small volume traded that could mean investors are no longer willing to take big risks and they all appear to have become less greedy. This is beneficial for the market as a whole, of course, since it is now more reasonable.
The market cap reached from 400 to 507 billion dollars on Saturday evening, and the price of one ETH was traded for 16% more than last week – for 970$.
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Coinbase Commerce for e-commerce
The popular cryptocurrency exchange Coinbase released a new service that would allow online merchants to accept payments in a number of cryptocurrencies and crypto tokens – Bitcoin, Bitcoin Cash, Ethereum and Litecoin. The new method could be used on its own or in combination with an already existing one. Coinbase Commerce now has integration with Shopify, who have more than 500 000 merchants on their platform. The service is available worldwide.
Bank of America may not allow its clients to invest in crypto, but this does not mean that they do not consider the capabilities of the blockchain technology seriously.
According to a survey done by EnvisionIP, a law firm that specializes in intellectual property, the American bank has filed at least 43 patents for blockchain and decentralized registers for following, recording and approving transactions in virtual currencies. This is a record number for the banking and technology sectors in the US. Some of the main reasons for the increased interest of banks to work with the patent bureau are limiting the patents that could be used against them, as well keeping those that could work for their business. An interesting fact is that most of these blockchain patents are in the financial sector.
Microsoft with a digital identity blockchain
The tech giant Microsoft revealed their plan to work on blockchain technology as a foundation for storing and operating with personal information in a new and secure way. The news came after the announced cooperation with CIF (Decentralized Identity Foundation). The so-called DIDs (Decentralized Identifiers) will work with layer 2 protocol over public blockchains already in existence. Microsoft promised that they will maintain an open communication and will share the progress of the project on their blog.
The news and other materials, published here, are for educational purposes only and do not provide recommendations or suggestions related to making deals with cryptocurrency, crypto tokens, smart contracts or other products of the blockchain technology. The products of blockchain technology (cryptocurrency, crypto tokens, smart contracts and others) are not regulated or protected by the legislations of the EU or the Republic of Bulgaria at present. Deals with products of blockchain technology (cryptocurrency, crypto tokens, smart contracts and others) have a high degree of risk.