Crypto on LYO: The Blend — Hotel Accepting Crypto, the Rise of the Industry, and a Milestone for Ethereum

What happened in the crypto world in the last week? Let’s see some interesting news together!

Dubai Hotel Accepts Crypto

The Manor Hotel by JA in Dubai is now accepting cryptocurrency payments after their partnership with Binance. Guests can pay hotel fares using Bitcoin (BTC), Binance coin (BNB), or Ethereum (ETH).

Guests can access the Binance-backed payment gateway through the hotel’s website. The Manor guarantees that it “adheres to strict security measures for protecting customers’ and business owners’ rights equally,” according to the hotel’s official website.

Crypto Industry is Comparable to the Rise of the Internet

Billionaire and tech pioneer Marc Andreessen likened crypto and blockchain to the early phases of the internet, in an interview with the Bankless podcast.

Emphasizing that he never made such a comparison before, the Silicon Valley venture capitalist said that Web3 is establishing trust and economic utility within the internet. “We could actually imagine the entire global economy running on the blockchain like 30 or 50 years from now,” Andreessen said.

Another Milestone for Ethereum

Ethereum remains the leading blockchain for buying, holding, and selling non-fungible tokens, garnering a total sales volume of around $27.50 billion on 31st May.

The all-time high was driven by the 1.27 million transactions of 347,186 unique buyers in January 2022.

Ethereum is the top blockchain by all-time NFT sales volume followed by Ronin, Solana, Flow, and Polygon, respectively.

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