It is globally known that crypto adoption has surged significantly over the past few years; in some terms, it is the contribution of traditional players, while others claim that the uniqueness offered by decentralized products drives growth.
In a press release dated September 25, 2024, PayPal Holdings Inc. noted that it is enabling its users in U.S. states to directly buy, sell, and hold cryptocurrencies leveraging their PayPal business account.
“Excluding the New York state users, users from other states of the US can enjoy these services of PayPal, as per the release. Furthermore, it also enables PayPal business account holders to send and receive supported crypto tokens to and from external blockchain accounts.
According to the release, adding these capabilities for business account holders follows the 2020 announcement that consumers could buy, hold, and sell cryptocurrency directly from their PayPal and Venmo accounts.
The senior vice president of blockchain, cryptocurrency, and digital currencies at PayPal, Jose Fernandez da Ponte, said in the release“Since we launched the ability for PayPal and Venmo consumers to buy, sell, and hold cryptocurrency in their wallets, we have learned a lot about how they want to use their cryptocurrency.”
“Business owners have increasingly expressed a desire for the same cryptocurrency capabilities available to consumers. We’re excited to meet that demand by delivering this new offering, empowering them to engage with digital currencies effortlessly,” he added.
PayPal Holdings Inc. (PYPL) Stock Price Update
When writing, PayPal stock (PYPL) was trading at $77.36 with a trading volume of 13.46 million. The performance of PYPL is rated to be progressive by the market experts as it surged over 8% in a week, 26.36% YTD, and 32.69% in the past 52 weeks.
According to data from TradingView PayPal has a market capitalization of $79.08 billion, making it the 238th most valuable company globally. By the end of 2023, the market cap was $66.20 billion over 19% less than in the ongoing year.
For Q2, 2024 the reported EPS of PayPal was $1.19 roughly 20% greater than the expected EPS. However, for Q3 and Q4 the expected EPS is $1.06 and $1.09.
The annual expected revenue of PayPal Holdings Inc. is $31.93 billion, although it had reported $7.70 billion in revenue in Q1, 2024 and $7.88 billion in Q2.
In 2023, the leading payment giant reported $29.68 billion in revenue with $4.25 billion as net income and 14.31% as net margin.
Crypto Market Price Updates
When writing the cryptocurrency market capitalization was at $2.24 trillion with a nominal surge of 0.50%; at the same time, the fear and greed index by CoinMarketCap was at 48 reflecting neutrality.
Since the past few sessions, Bitcoin prices have tumbled below the range of $65 and between $61k and 64k.
Some known analysts claim that the steadiness in BTC prices indicates some big movement in the coming months; however, they have not clarified whether the trend will be positive or negative.
In the past 24 hours, WorldCoin’s price grew roughly 16% helping it reach the top of the gainers list until publishing it was trading at $2.09.
