According to Jamie Coutts, Etherium will have tremendous additional growth potential – even if a small percentage of PayPal’s customer base starts using the PYUSD stablecoin.
“As long as PayPal’s announcement is not embedded in the price of ether. PayPal payment service now has 435 million active accounts. And on the first and second tiers of Etherium, it’s only a million. If even 1% of PayPal users (that is 4.35 million people) transfer funds into PYUSD and use them, the development of the Ethereum ecosystem and ether itself will be striking,” the Bloomberg analyst said.
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Coutts reminded that Etherium continues to evolve, and this development has not yet had much impact on the price of the project’s main coin, ETH. The expert emphasized: after the transition of the Etherium blockchain to the PoS algorithm, the coin has become almost deflationary, and the volume of steaking over the past three months increased by 38%. Investors continue to accumulate ether, the number of users is increasing, and the number of wallets with balances over 1 ETH exceeds 1.7 million.
Recently, the increase in activity on the Etherium network following the launch of PayPalUSD was discussed by an
by JPMorgan analyst Nikolaos Panigirtzoglou.