Ethereum (ETH) Price News Update 21st Dec 2022
The price of Ethereum (ETH) has not yet priced in the news about the massive collaboration.
Recent Released: What Is Bitcoin (BTC) Price News Today 20th Dec 2022?
In the wake of FTX’s collapse, the crypto market is in a deep bear market, and popular cryptocurrencies keep coming up with new partnerships. The FTX-related crypto market crash in November 2022 hurt the Ethereum (ETH) price, and it hasn’t fully recovered yet. At the same time, Ethereum blockchain got a big boost from a huge partnership with big names in traditional finance. But the news of the partnership didn’t boost the price of ETH as much as it could have.
Will the price of Ethereum go up sometime in 2023?
The cryptocurrency community has been waiting for the right momentum to push the price of Ethereum (ETH) to levels expected in 2021. Visa, a big name in payments, said it was working with Ethereum to make it possible for transactions to happen automatically without a third party. This is a huge partnership and huge news for the Ethereum community, since Visa is in charge of so many payments around the world. The global reach of the payments company could help Ethereum grow into more mainstream businesses.
With Visa and Ethereum working together, people could pay directly from their own wallets. With the Ethereum Visa feature, any small business can set up a smart contract for automatic payments. Most of the time, smart contracts let parties trade with each other without the need for a trusted central mechanism.
Also, XRP Whales’ Holding Hits ATH While Summary Judgment Is Pending
When will the Visa news be factored in?
The price of ETH, on the other hand, has been moving sideways for the past few weeks. CoinMarketCap, a website that keeps track of prices, says that the price of the most valuable cryptocurrency is $1,216 as of this writing, which is an increase of 0.32% in the last 24 hours. It will be interesting to see how the ETH price changes if and when more news comes out about this partnership. As of right now, it’s clear that the news about the partnership hasn’t had a big effect on the price.
Source: Google Trend