RATE Group | Ethereum: USD/ETH (ETH=) Price Could Shoot Up As JPMorgan Joins ETH Ecosystem
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Ethereum: USD/ETH (ETH=) Price Could Shoot Up As JPMorgan Joins ETH Ecosystem

13 Feb Ethereum: USD/ETH (ETH=) Price Could Shoot Up As JPMorgan Joins ETH Ecosystem

Posted at 11:17h in Ethereum News by

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Ethereum: USD/ETH (ETH=) Price Could Shoot Up As JPMorgan Joins ETH Ecosystem

Ethereum (ETH) is already one of the better-performing assets this year and even overshadowed Bitcoin (BTC) in the process. The media’s attention to the increasing use of DApps and DeFi has somewhat buoyed ETH’s price with technicals there to support it.

Now, Ethereum, after two weeks of gains, is nearing $250, and JP Morgan’s deal may have something to do with this new 2020 high. The largest U.S. bank by assets is reported to be looking into merging Quorom to blockchain software company ConsenSys, according to Reuters.

Quorom is the blockchain unit of JP Morgan, and it powers the payment network IIN (Interbank Information Network) that involves more than 300 banks worldwide, with an additional 80 Japanese banks reported to have signed a letter of intent to join back in December.

The network’s role is to facilitate information-sharing for payment verification within member banks, a way…

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