Ethereum (ETH) Price News: As the crypto market reels in the extreme bear market environment in the wake of FTX collapse, popular cryptocurrencies continue to come up with new partnerships. The Ethereum (ETH) Price is yet to fully recover from the adverse effects of the FTX related crypto crash that erupted in November 2022. Meanwhile, a huge collaboration with mainstream finance giants came in favor of Ethereum blockchain. However, the partnership news failed to maximize price returns for ETH holders.
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The crypto community has been waiting for the right momentum to push the Ethereum (ETH) price to 2021 levels. In this context, payments giant Visa said it was working with Ethereum to enable automatic transactions without the need of a third party. This is a huge collaboration and massive news for the Ethereum community considering the fact that Visa controls a huge share of payments all around the world. The payments company’s global reach could help Ethereum expand its horizon into the mainstream businesses.
The Visa Ethereum collaboration could enable payments directly from their own self-custodial wallets. Simply put, any small business can set up a smart contract for automatic payments, using the Ethereum Visa feature. Smart contracts generally allow stakeholders to trade with each other without the involvement of a trusted centralized mechanism.
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Meanwhile, the ETH price has been following a sideways movement in the last few weeks. As of writing, the top cryptocurrency price stands at $1,216, up 0.32% in the last 24 hours, according to price tracking platform CoinMarketCap. It remains to be seen how the ETH price reacts if more developments and announcements come out about this collaboration. As of now, it is evident that the partnership announcement has not had a big effect of the price.
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