Ethereum Smashes All-Time High as Race for Smart Contract Supremacy Accelerates – eToro Crypto Roundup
TRX, EOS and BNB make massive gains as Visa adopts Ethereum.
Prices began rising on Wednesday as the market was uplifted by crypto-themed April Fool’s pranks. The Teletubbies tweeted about Bitcoin to advertise their own imaginary cryptocurrency TubbyCoin, and long-term critic Peter Schiff briefly admitted that he was wrong about the cryptoasset.
This week’s highlights
- Visa and PayPal tighten crypto embrace
- Wall Street banks expand Bitcoin offerings
Visa and PayPal tighten crypto embrace
Ethereum’s stellar performance could be credited to integrations with the biggest global payment processors.
Visa said last Monday that it will begin accepting cryptocurrency at millions of its global merchants, and will be using the Ethereum-based stablecoin US Dollar Coin (USDC) to settle transactions.
Not to be outdone, PayPal said it will also allow US customers to pay online merchants using crypto, marking another key milestone in the mainstream adoption of cryptoassets.
Wall Street banks expand Bitcoin offerings
Goldman announced plans this week to offer multiple crypto investment vehicles, citing demand from “a large contingent of clients.” Meanwhile, Morgan Stanley has said it will give a dozen of its mutual funds the ability to invest indirectly in Bitcoin.
This rapid pace of adoption on Wall Street reflects what the chief investment officer of Soros Fund Management has identified as an “inflection point,” triggered by growing fears of inflation.
With global markets optimistic after the S&P 500 surpassed 4,000 for the first time, it is easy to imagine both Bitcoin and Ethereum roaring to new highs in the week to come.
For the moment, however, Bitcoin is still held back by selling pressure at $60K. As this level has now been tapped a handful of times, we could expect an eventual break to unleash a powerful rally upwards, adding to the bullish sentiment created by Ethereum finally breaking through $2K.
This post originally appeared on the eToro blog.
This content is sponsored and should be regarded as promotional material. Opinions and statements expressed herein are those of the author and do not reflect the opinions of The Daily Hodl. The Daily Hodl is not a subsidiary of or owned by any ICOs, blockchain startups or companies that advertise on our platform. Investors should do their due diligence before making any high-risk investments in any ICOs, blockchain startups or cryptocurrencies. Please be advised that your investments are at your own risk, and any losses you may incur are your responsibility.
Check out the Latest Industry Announcements
Featured Image: Shutterstock/iurii
The post Ethereum Smashes All-Time High as Race for Smart Contract Supremacy Accelerates – eToro Crypto Roundup appeared first on The Daily Hodl.