Visa Ships Ethereum past 2000 USD

By: Bharggavi Ssayee

April 5, 2021 7:01 AM

Visa settlemententnt of a USDC transaction on the Ethereum blockchain benefits the value of Ether. Since the announcement, the cryptocurrency has gained more than 15%, establishing a new ATH.

Breaking records is not the monopoly of Bitcoin, the first of cryptocurrencies. Its challenger, Ether, is not to be outdone. And the value of the cryptoasset in particular benefits from strong news.

On March 29, Visa reported a first with support on its network for the payment of a transaction natively in crypto. "With direct acceptance of USD Coin payments, Visa is establishing new connections between digital and traditional currencies," claims the giant.

New applications for Ethereum

What about Ethereum in this matter? The use of USD Coin (USDC), a US dollar-backed stablecoin, was made to settle a transaction with Visa on Ethereum, "one of the most widely used open-source blockchains. "

This operation once again underlines the central place occupied by Ethereum. And for Visa, this is just the first step. The blockchain should therefore still gain in importance. This thus contributes to the value of ETH.

During the week, the crypto asset saw more than 15% growth. Ether went back above $ 2,000 on Friday, April 2, thanks to 5% growth in 24 hours. She even established a new ATH ($ 2,087 according to Nomics).

Bitcoin is clearly not the only Top 10 crypto to post strong growth in 2021. the price of Ether has practically tripled this year.

The price of Ether multiplied by 7?

During the week, Ethereum received praise from a billionaire heavily invested in the crypto world, Mark Cuban. Ethereum is "the closest thing to money," he said, also hailing its central place in DeFi.

Unlike the attacks of the founder of Cardano, Ethereum is far from being a handful of individuals taking advantage of users through "$ 100 transaction fees, yield farming, unnecessary DeFi, NFTs sold for millions," but useless and irrelevant. "

And how far can ETH go? Messari's Ryan Watkins ignores him. But the analyst believes that once Ethereum 2.0 goes live, Ether could delight Bitcoin as the world's number one cryptocurrency.

In a January investor note, expert David Grider said the price of Ether could rise to new heights. He estimated that its value could be multiplied by 7 due to its central place in DeFi