During Thursday’s U.S. market session, the Coinbase stock price bounced 4.6%, currently trading at $203.76. While the buying pressure followed a broader market uptick, the COIN price gained further momentum as it announced a partnership with online payment company PayPal. Will the renewed recovery break the $250 resistance?
PayPal, Coinbase Broaden Alliance to Boost PYUSD Utility
Apr 24, 2025, Coinbase Global Inc. and PayPal Holdings announced their strategic partnership to scale the adoption, distribution, and utilization of the PayPal USD (PYUSD) stablecoin. The collaboration aims to provide a seamless value for users by making PYUSD more accessible and useful across digital platforms and broader.
“For years, we’ve worked with Coinbase to enable a best-in-class integration to provide a simple, familiar way for PayPal users to fund crypto purchases on Coinbase. Our objectives aligned further as we deployed PYUSD in combination with our payments expertise, enabling greater commerce applications,” said Alex Chriss, President and CEO, PayPal.
What the Upgrade Delivers:
Fee-free, 1:1 PYUSD ↔ USD on Coinbase: Coinbase users can now buy, sell, and trade PYUSD without platform fees and redeem it 1:1 for U.S. dollars directly inside the exchange ecosystem.
Payments Innovation Track The firms will co-develop PYUSD-based solutions for cross-border payments and digital commerce, leveraging PayPal’s 430 million consumer and merchant accounts.
DeFi Exploration: Joint teams plan to pilot PYUSD in decentralized finance and on-chain platforms, broadening the stablecoin’s utility.
How It May Impact COIN Stock Price
The no-fee PYUSD trading could encourage more user transactions on the Coinbase exchange. The increased trading volume will boost revenues from the platform’s other services, such as staking, custody, and inspirational products.
The PayPal partnership will significantly enhance Coinbase’s credibility in the related market. The aforementioned developments and user expansion could positively impact the assets’ intrinsic value and demand pressure.
Coinbase Stock Eyes $250 Rally With This Breakout
Over the past three weeks, the Coinbase stock price recovered from a $142.5 low to today’s closing value of $203.8, registering a 43.25% increase. The daily chart shows this reversal rebound from multiple support of $146, coinciding closely with the 61.8% Fibonacci retracement level.
Theoretically, the FIB level is firm support and assists buyers in recuperating the bullish momentum. The recent price jump above the 20- and 50-day EMA slope signals renewed bullish momentum and a change in market sentiment.
By press time, the Coinbase stock price was less than 2% away from challenging the last swing high resistance of $207. The potential breakout accelerates the bullish momentum and pushes the asset 10.6% to hit the downsloping resistance trendline, which drives the current correction.
A bullish breakout from this resistance is necessary to drive a sustained upswing above $250.
Also Read: Is Bitcoin (BTC) Headed for a 2025 Crash? What to Know
