Visa’s announcement that the company will agree to use Ethereum for transactions on its payment network is an ultimate indication that the mainstream financial industry is embracing virtual currencies. Visa’s decision is the first time a major payment company has allowed such a currency to be used for payments.
The growth of the specified crypto currency is also due to the fact that the total market capitalization of the cryptocurrency industry has reached $ 2 trillion for the first time and has doubled in the last two months. The use of ETH in decentralized financial practices and deposit agreements has contributed to the growth of its status. This reduces the supply in circulation, while advertising, such as the growing demand for Visa, raises prices.
In this case, its value has surged over the previous year as the cryptocurrency’s popularity has grown among both retail and institutional investors. All of these factors suggest that the next quarter and the rest of the year could be really very good for Ethereum.
As markets became more careful, it broke its previous record in February, and then became popular again due to the painting of the artist Beeple, which sold for 50 million pounds.
The material has been provided by InstaForex Company – www.instaforex.com
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