PayPal just helped bring the world's attention back to Bitcoin and the cryptocurrency space with its announcement that users of the global platform will soon be able to purchase, store and transact with Bitcoin and other cryptocurrencies.
The payment giant has stated that it will initially provide users with the ability to access Bitcoin, Ethereum, Bitcoin Cash, and Litecoin through its platform. Through its interface, users will also be able to use their cryptocurrency holdings to pay merchants for their goods and services while allowing merchants to receive their payment in the fiat of their choice. While the reaction to the news has been mixed among the crypto faithful, its hard to deny that this news is overall bullish for the crypto space.
One of the coins that is set to benefit from this development is REN and its ability to wrap Bitcoin into renBTC, which can then be used on the Ethereum platform to interact with the growing DeFi space. As more and more institutions start allocating a percentage of their portfolio to Bitcoin and cryptocurrencies, the tokens that facilitate the ability to use Bitcoin in the DeFi space will perform well in my opinion.
Another token that has performed well today is Reserve Rights (RSR). I made a video previously discussing central banks, digital dollars, and how the private sector will play a role, and RSR is one of those projects looking to capitalize on this evolving situation. I also remember something about PayPal possibly being involved in the project, which could possibly mean a future integration with the PayPal platform as it expands its offerings.
And finally, Aavegochi (GHST) has announced that users can now stake their GHST tokens to earn raffle tickets for upcoming NFT raffles.
