[Bitcoin Now] Entering a Breather... Sideways Movement in the High 20 Million Won Range

VISA Card's Virtual Currency Payment Introduction News Drives Price Up to 21 Million Won Range

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[Asia Economy Reporter Minwoo Lee] The price of Bitcoin, the leading cryptocurrency, is maintaining its position in the high 20 million KRW range. After reaching its highest price in about three years on the 1st, it appears to have entered a consolidation phase.

According to Upbit, a domestic cryptocurrency exchange, as of 3:14 PM on the 3rd, the price of Bitcoin was 20.9 million KRW, down 0.92% compared to 24 hours earlier. Although it fell from the 21.49 million KRW recorded on the 1st, it has consistently stayed in the high 20 million KRW range. Other major cryptocurrencies showed similar trends. Ripple dropped 1.30% to 682 KRW compared to 24 hours earlier. During the same period, Ethereum fell 1.26% to 647,900 KRW.

Since positive factors continue, there is an assessment that there is still room for further price increases. According to major foreign media such as Forbes on the 2nd (local time), global credit card company Visa has decided to introduce a system that allows payments using 'USDC,' a cryptocurrency pegged to the US dollar. It is a type of stablecoin that enhances stability by linking its price to actual currency. USDC was created through a collaboration between Circle and Coinbase.

Visa plans to support USDC payments at 60 million merchants worldwide as early as next year. In addition to making payments with USDC through a separate payment platform, it also plans to launch a credit card that can directly send and receive USDC. Following this news, the price of Bitcoin rose to 21.18 million KRW around 8:43 AM that day.