According to Jamie Coutts, Ethereum will have huge additional growth potential – even if a small percentage of PayPal’s customer base starts using the PYUSD stablecoin.
“So far, the PayPal announcement is not priced in Ethereum. PayPal now has 435 million active accounts. And on the first and second levels of Ethereum – only a million. If at least 1% of PayPal users (that is, 4.35 million people) transfer funds to PYUSD and use them, the development of the Ethereum ecosystem and the ether itself will be striking,” Bloomberg analyst said.
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Cutts recalled that Ethereum continues to develop and this development has not yet had much effect on the price of the main coin of the project – ETH. The expert emphasized that after the transition of the Ethereum blockchain to the PoS algorithm, the coin became almost deflationary, and the volume of staking has increased by 38% over the past three months. Investors continue to accumulate ether, the number of users is increasing, and the number of wallets with a balance of more than 1 ETH exceeds 1.7 million.
Recently, JPMorgan analyst Nikolaos Panigirtzoglou spoke about the increase in activity in the Ethereum network after the launch of PayPalUSD.
Source: Bits
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