According to BlockBeats, on August 8, JPMorgan analyst Nikolaos Panigirtzoglou said that the launch of PayPal's stablecoin may promote Ethereum's on-chain activity and enhance Ethereum's network utility as a stablecoin or DeFi platform. In addition, PayPal's stablecoin will also encourage more companies to choose Ethereum or Ethereum-based Layer 2 networks for their stablecoins or decentralized projects. (The Block)