Ethereum News: Will Visa’s Push on Ethereum Act as a Bullish Catalyst for Investors?
ETH News: Visa, a global payments giant, is eager to build a “muscle memory” around settlements. Visa is currently investing in a global settlement using crypto tokens and fiat currencies to make it easier to convert between digitally tokenized Dollars (USD) and traditional US Dollars (USD).
Visa and Ethereum: A Strong Blockchain Bond
StarkWare Sessions 2023 saw Visa announce that they are testing the Ethereum blockchain to accept large-value settlements. This statement can be a bullish catalyst to the second-largest cryptocurrency on the market.
Cuy Sheffield, VP and Crypto Head at Visa, stated, “We’ve been testing ways to accept settlement payments from issuers starting on Ethereum and paying out USDC. These are large-value settlement payments.” He added that they can also convert dollars in euros across-border transactions.
The ETH Price will turn bullish?
The move by Visa fuels a bullish narrative about Ethereum, as the cryptocurrency has seen nearly 30% gains over the past month. The Ethereum (ETH) price at the time of writing is $1,629.82. It has a market capitalization $199.44 Billion, and a 24-hour trading volume of up by 30.35%. It now stands at $7,595,862,167. According to CoinMarketCap, the circulating supply of ETH is around 122,373,866 ETH.
Source – CoinMarketCap20 day EMA ($1,586). Bulls attempting to assert their dominance show the advantage to buyers. If bulls succeed, ETH prices could rally to $1,800, and it can also stretch to $2,000.
Also read: Ethereum News: Why Ethereum Price May Break $1800 in February 2023
Disclaimer: This article does not contain investment advice.
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