Ethereum price gains strength after NYSE patents several crypto offerings
ETH's weekly losses have been wiped out after the Republic of the Marshall Islands formally recognised DAOs as legal entities earlier this week.
- The New York Stock Exchange (NYSE) has patented a number of blockchain and crypto offerings related to AR/VR, NFTs, crypto trading desks and others.
- The last few months have seen mainstream companies such as McDonald's, Disney and others enter the Web 3.0 fray.
- Apple's new Tap to Pay module will allow users to spend their crypto via offerings such as Coinbase Card and Crypto.com Visa Card.
Ethereum, the second-largest cryptocurrency in the market today, has continued to forge a remarkable turnaround in recent weeks, currently showcasing a fortnightly rise of around 12%. The altcoin's annual gains now stand at 75%, with a single ETH currently trading at AUD$4,371.
This ongoing rise coincides with news of the Republic of the Marshall Islands revealing that it has decided to formally recognise decentralised autonomous organisations (DAOs) as legal entities, giving them recognition on a global level. As a quick refresher, DAOs are self-governing blockchain systems that can be used within a host of different industrial domains, ranging from finance to healthcare to supply chains.
Also, the NYSE filed a trademark application with the US Patent and Trademark Office (USPTO) last week, registering the name "NYSE" in relation to a whole host of blockchains and crypto-related offerings including a VR/AR reality software, several NFTs and an online trading platform.
Over the last couple of months, a number of high-profile firms have continued to file trademarks related to the blockchain and NFT space. For example, McDonald's recently opened a Metaverse restaurant while Disney patented an attractive digital theme park for its patrons.
Apple iPhone to get new feature allowing crypto payments
Apple revealed recently that it has released a Tap to Pay module for its iPhone, allowing users to transform their smartphones into a point-of-sale device. As a result of the move, merchants who own iPhones will be able to receive crypto-based payments from any individuals making use of offerings such as the popular Coinbase Card and Crypto.com Visa Card, among others.
Last year, crypto trading platform Coinbase announced that it had integrated support for Apple Pay and Google Pay into its existing financial framework. This move was followed by the launch of Coinbase Card, an offering allowing users to spend cryptocurrencies across a host of mainstream avenues.
Cash App, a mobile payments service founded by Twitter icon Jack Dorsey, also revealed a few weeks ago that it had introduced support for BTC transfers via the Bitcoin Lightning Network (LN).
Interested in cryptocurrency? Learn more about the basics with our beginner's guide to Bitcoin, dive deeper by learning about Ethereum and see what blockchain can do with our simple guide to DeFi.
Disclosure: The author owns a range of cryptocurrencies at the time of writing.
