The news of a wider adoption for Ethereum broke out recently in the cryptocurrency space. Here, the coin was announced to be accepted as a payment method by one of the biggest jewelers in the US, Marks Jewelers. The accessory retailer also announced the inclusion of several other cryptocurrencies, such as Bitcoin [BTC], Bitcoin Cash [BCH], Bitcoin Diamond [BCD], Bitcoin Gold [BTG], Ethereum [ETH], Litecoin [LTC], Dash and Zcoin [XZC] as the options for payment.
This comes as the jeweler aspires to become recognizable at a global scale and believes the adoption of cryptocurrencies will reflect on them and help achieve more success. Another reason for providing support to crypto-coins is that this will make cross-border payments cheaper and refine the process by removing centralization from the picture.
In a recent cryptocurrency report published by the taxation and accounting firm, Ernst & Young, it was established that Ethereum is the dominant blockchain platform in the cryptocurrency space. Additionally, the new projects that have recently emerged into the blockchain scene have not been able to move Ethereum from a position of monopoly.
Despite all the good sentiments reflecting on the ecosystem, the Ethereum market does not look pleased. The scenario is projecting much banality wherein the token is currently down by 1.12% only, projecting a sideways trend. The trading price of ETH is recorded at $203 with a market cap of $20.8 billion. The total 24-hour trading volume for the coin is $1.2 billion.
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