Ethereum Will Shine Because of PayPal's Stablecoin! – JP Morgan

<p>&nbsp;"Some like it and some don't like PYUSD, what about you?"</p><p><br /></p><p>Nikolaos Panigirtzoglous, JP Morgan analyst revealed that Ethereum (ETH) will benefit greatly from PayPal USD (PYUSD) following the presence of a new stablecoin capable of having a positive effect on the activities of the digital asset.</p><p><br /></p><p>There is no denying that the arrival of PYUSD has been welcomed by the cryptocurrency market, but some experts have also criticized it even though JP Morgan sees the stablecoin as a positive thing for the blockchain network.</p><p><br /></p><p>So here it can be seen that the crypto market is ready to get a lot of competition from the upcoming digital assets, but it should be noted that there is one entity that can benefit more than the others.</p><p><br /></p><p><br /></p><p>As such, Panigirtzoglous is of the view that ETH will gain multiple benefits from PYUSD, where its network activity can see a huge spike in further increasing the Total Locked Value (TVL).</p><p><br /></p><p>In that sequence, activities including ETH network utilities as a stablecoin or DeFi platform will also surge, commented the JP Morgan analyst, adding that more firms may be more interested in choosing the ETH blockchain to implement their stablecoin or decentralized projects.</p><p><br /></p><p>Not only that, PYUSD is also said to have the potential to surpass Binances stablecoin USD (BUSD) and the interesting thing is, PYUSD was issued by Paxos which is the company that forced the regulator to stop issuing BUSD.</p><p><br /></p><p>It is well known that many criticized PayPal for its decision to run a stablecoin on ETH following its high transaction fees but after that, some suggested that PayPal subsidize the cost or support the presence of stablecoins on other networks.</p>