Visa settlement 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. His challenger, l’Ether, is not left out. And the value of the crypto-asset benefits in particular 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 Establishes 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 stablecoin backed by the US dollar, was made to settle a transaction with Visa on Ethereum, ” one of the most used open-source blockchains. »
This operation once again underlines the central place occupied by Ethereum. And for Visa, this is only the first step. The blockchain should therefore still gain in importance. This thus contributes to the value of theETH.
During the week, the cryptoasset saw more than 15% growth. Ether went back above $ 2,000 on Friday April 2 thanks to 5% growth in 24 hours. It even establishes a new ATH (2,087 dollars according to Nomics).
Bitcoin is clearly not the only Top 10 crypto to record strong growth in 2021. As our colleagues at CoinDesk remind us, the price of Ether has practically tripled this year.
The price of Ether multiplied by 7?
During the week, Ethereum was also entitled to the praise of a billionaire very invested in the world of crypto, Mark Cuban. Ethereum is ” what comes closest to money “, He judges, also saluting his central place in DeFi.
Contrary to Cardano’s founder’s attacks, Ethereum is far from a handful of individuals benefiting from users through ” $ 100 transaction fees, yield farming, useless DeFi, NFTs sold for millions, but useless and without interest. »
And how far can ETH go? Messari’s Ryan Watkins ignores him. But the analyst believes that once Ethereum 2.0 is operational, Ether could delight Bitcoin as the world’s leading cryptocurrency.
In a note to investors in January, expert David Grider considered possible the rise in the price of Ether to new heights. He estimated that its value could be multiplied by 7 due to its central place in DeFi.