• Home
  • Contact Us
  • Privacy & Policy
Sunday, May 22, 2022
Finances Advise
No Result
View All Result
  • Home
  • Business
  • Commodities
  • Crypto News
    • Block chain
    • Bitcoin
    • Ethereum
    • Litecoin
  • Finance
    • Financial Advisors
    • Personal Finance
    • Market Insider
  • Forex
  • Investing
  • Stocks
  • ICOs
  • Trading
  • Home
  • Business
  • Commodities
  • Crypto News
    • Block chain
    • Bitcoin
    • Ethereum
    • Litecoin
  • Finance
    • Financial Advisors
    • Personal Finance
    • Market Insider
  • Forex
  • Investing
  • Stocks
  • ICOs
  • Trading
No Result
View All Result
Finances Advise
No Result
View All Result
Home Crypto News Ethereum

Visa Picks Ethereum Over Facebook Libra to Settle Payments; ETH/USD Up

by admin
March 30, 2021
in Ethereum
0
152
SHARES
1.9k
VIEWS
Share on FacebookShare on Twitter


Ether, the de-facto settlement token of the Ethereum blockchain, rallied on Monday after global payment giant Visa became the ledger’s latest supporter.

The firm, which can handle 24,000 transactions per second, announced that it would offer users the option to settle transactions in Ethereum-based stablecoin USDC, becoming the first major payment services provider to have integrated a dollar-pegged cryptocurrency into its legacy systems.

Crypto.com joined Visa to enable the latter’s stablecoin-focused pilot program. In doing so, the crypto firm would allow Visa to engage in their physical cards, thereby gaining the privilege to settle transactions in USDC in addition to fiat currencies. The partnership would remove the need for users to go through additional asset conversions.

“The announcement today marks a major milestone in our ability to address the needs of fintechs managing their business in a stablecoin or cryptocurrency,” said Visa’s chief product officer Jack Forestell. “And it’s really an extension of what we do every day, securely facilitating payments in all different currencies all across the world.”

Visa’s move followed its withdrawal from a similar stablecoin project — launched by social media giant Facebook — in 2019. The firm decided against integrating “Libra” after Mark Zuckerberg’s foray into the cryptocurrency sector met with skepticism from lawmakers and regulators alike.

ETH/USD Surges

Ethereum (aka Ether) surged by more than 5 percent in the early London session, touching an intraday high of $1,782. Part of its gains appeared due to its positive correlation with Bitcoin, the topmost cryptocurrency that also surged above a key resistance threshold of $58,000 on Monday. Meanwhile, more tailwinds for Ethereum came after the Visa news.

Ethereum upside picks momentum after Visa news. Source: ETHUSD on TradingView.com

The Ethereum blockchain supports 74 percent of the total stablecoins available in the market, compared to only half the dollar-pegged tokens in the previous year. It transacted more than $1 trillion in stablecoins in 2020, with Tether, the most popular but controversial digital dollar, settling $580 billion worth of transfers and generating $385 billion in volumes for the Ethereum blockchain.

As usual, miners benefited the most from Ethereum’s growth as a public ledger for stablecoins and a dozen other industries, including the booming decentralized finance sector. Ethereum’s mining revenue for January 2021 was $830 million, the highest on the calendar. In turn, that raised the appeal for Ether among investors.

Visa’s involvement with a stablecoin backed by Ethereum raised the blockchain’s capability to attract more users to its platform. That partially explains its climb during the European session Monday.

Ethereum Technical Outlook

The ETH/USD now trades inside a symmetrical triangle channel, confirmed by at least two reactive highs on a downward slope trendline and two reactive lows on an upward slope trendline. Coupled with a decreasing trade volume, the pair intends to log a breakout move as it closes towards the Triangle’s apex — the point where the two trendlines converge.

Ethereum is eyeing a Symmetrical Triangle breakout. Source: ETHUSD on TradingView.com
Ethereum is eyeing a Symmetrical Triangle breakout. Source: ETHUSD on TradingView.com

For now, it appears ETH/USD would break bullish, targeting the range above $1,950-2,050. Meanwhile, an upside rejection from the Triangle’s upper trendline would mean a pullback towards the lower trendline, followed by a negative breakout move towards the $1,350-1,470 support area.

Photo by Nick Chong on Unsplash 

Tags: EthereumETHUSDFacebookLibrapaymentsPicksSettleVisa
  • Trending
  • Comments
  • Latest

A 48-year market vet warns that the Fed will be forced to tighten policy ‘way sooner’ than investors anticipate as inflation continues to soar — triggering a stock market crash of up to 80%

August 28, 2021
27-year-old UG graduate now millionaire proposes to girlfriend on b’day in video

27-year-old UG graduate now millionaire proposes to girlfriend on b’day in video

August 9, 2021

‘It’s begging to be destroyed’: A stock trader who says he made more than $100,000 shorting the market during the 2008 crash just bet against the S&P 500 — and warns there’s a ‘fair chance’ stocks are about to drop 25%

September 11, 2021

Stocks tanked in the first quarter, and new research shows there should be a reversal by the end of June

April 15, 2022

Stock Market Plunge: 5 Unstoppable Stocks on Sale to Buy Now and Hold Forever | The Motley Fool

0

Uber Hacking: Customers Not at Risk of Financial Crime, Says Minister

0

Black Friday Merchants Look to Extend Moment of Retail Optimism

0

Hotshot Snapchat Founders Face a Dilemma: Lie Low or Live Large?

0

Stock Market Plunge: 5 Unstoppable Stocks on Sale to Buy Now and Hold Forever | The Motley Fool

May 22, 2022
FOREX-Dollar hits two-decade high amid rising US charges, Ukraine struggle, China’s lockdowns

FOREX-Dollar hits two-decade high amid rising US charges, Ukraine struggle, China’s lockdowns

May 22, 2022

Here’s the real reason the stock market is coming unglued — and it isn’t because of weak earnings

May 22, 2022
FOREX-Dollar firm as COVID-19 resurgence hits reflation trades

FOREX-U.S. dollar hits 20-year high as risk aversion dominates

May 22, 2022

Recent News

Stock Market Plunge: 5 Unstoppable Stocks on Sale to Buy Now and Hold Forever | The Motley Fool

May 22, 2022
FOREX-Dollar hits two-decade high amid rising US charges, Ukraine struggle, China’s lockdowns

FOREX-Dollar hits two-decade high amid rising US charges, Ukraine struggle, China’s lockdowns

May 22, 2022

Categories

  • Bitcoin
  • Block chain
  • Business
  • Commodities
  • Ethereum
  • Financial Advisors
  • Forex
  • Investing
  • Litecoin
  • Market Insider
  • Personal Finance
  • Stocks

Site Navigation

  • Home
  • Contact Us
  • Privacy & Policy

We bring the Best and latest Crypto News

© 2022 JNews - Premium WordPress news & magazine theme by Jegtheme.

No Result
View All Result
  • Home
  • Business
  • Commodities
  • Crypto News
    • Block chain
    • Bitcoin
    • Ethereum
    • Litecoin
  • Finance
    • Financial Advisors
    • Personal Finance
    • Market Insider
  • Forex
  • Investing
  • Stocks
  • ICOs
  • Trading

© 2022 JNews - Premium WordPress news & magazine theme by Jegtheme.