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PayPal's cryptocurrency-related activities look like the elements of the optimistic forecast for its stock, PYPL. Meanwhile, its stablecoin finds its audience despite the general skepticism it was met with.
<h2 id="pypl-is-interesting-play-top-defi-analyst-adam-cochran-says">$PYPL is interesting play, top DeFi analyst Adam Cochran says</h2>
PayPal's stock PYPL might be an interesting play despite the pessimism of some investors, Adam Cochran says in his recent thread on X. Its crypto ventures might contribute to its success.
<blockquote>
 I think <a href="https://twitter.com/search?q=%24PYPL&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$PYPL</a> is an interesting play here.People think it’s down and out because they don’t see PayPal branded check out anymore, but:-PayPal complete is unbranded e-commerce checkout.-Heavy Growth from BrainTree division which integrates anti-fraud tools with card…— Adam Cochran (adamscochran.eth) (@adamscochran) <a href="https://twitter.com/adamscochran/status/1718974510857146528?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">October 30, 2023</a>
</blockquote>
Starting crypto purchasing is one catalyst for being bullish on PYPL's price performance. In May 2023, the fintech confirmed having $1 billion in crypto on its balance sheet.
Also, the launch of PayPal stablecoin PYUSD should be considered among the positive events for PYPL. As covered by U.Today previously, a USD-pegged stablecoin on Ethereum (ETH) was launched by PayPal and Paxos in early August 2023.
Last but not least, PayPal acts as a cashout payment provider for Coinbase; for many non-U.S. jurisdictions it becomes the only "exit" from the top-tier exchange.
Also, a strong P2P ecosystem in the Venmo app is yet another contributor to PYPL's optimism, says the analyst.
<h2 id="paypal-stablecoin-pyusd-makes-it-to-top-league">PayPal stablecoin PYUSD makes it to top league</h2>
Among "non-crypto" catalysts, Cochran mentioned strong revenue and net income indicators, the role of PayPal in Shopify, Apple Pay and more.
Meanwhile, PYUSD, PayPal's new stablecoin, managed to achieve $140 million in market capitalization. It is the 15th largest stablecoin by market cap, as of press time.
PYUSD is listed by a number of top-tier CEXes, including Coinbase, Bitstamp, Kraken and KuCoin, as well as by Uniswap and PancakeSwap DEXes.

Crypto Might Contribute to PayPal Success, Here's How

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