Will Visa’s Push On Ethereum Act As A Bullish Catalyst?
ETH News: A global payments giant, Visa is looking forward to building a “muscle memory” around settlements. Intending to increase the ease of conversion between digital tokenized Dollars and traditional US Dollars, Visa is currently investing in a global settlement with crypto tokens and fiat currencies.
Visa and Ethereum: A Strong Blockchain Bond
At StarkWare Sessions 2023, Visa announced that they are testing how to accept large-value settlements on the Ethereum blockchain. This statement can act as a bullish catalyst for the second-largest cryptocurrency in the market.
Cuy Sheffield, VP, and Crypto Head at Visa said, “We’ve been testing how to actually accept settlement payments from issuers in USDC starting on Ethereum and paying out in USDC. So, these are large value settlement payments.” He further added, “The same way that we can convert between dollars in euros on a cross-border transaction, we should be able to convert between digital tokenized dollars and traditional dollars.”
ETH Price will take a Bullish Turn?
Visa’s move fuels a bullish narrative for Ethereum as the cryptocurrency yielded nearly 30% gains for holders over the past month. At the time of writing, Ethereum (ETH) price is $1,629.82, with a market capitalization of $199.44 Billion and a 24-hour trading volume up by 30.35%. Now it stands at $7,595,862,167. At the same time, the circulating supply is approximately 122,373,866 ETH as per the crypto market tracker CoinMarketCap.
20-day EMA ($1,586) and bulls wanting to assert their dominance depict the advantage to buyers. If bulls manage to do so, ETH price may rally to $1,800 and it can also stretch up to $2,000.
Also Read: Ethereum News: Here’s Why Ethereum Price May Break $1800 In February 2023?
Disclaimer: The information provided in this article is solely the author’s opinion and not an investment advice
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.