I don't see this happening to be honest. Centralized exchanges are slowly losing against DEXes, so I don't see how PayPal would do any better.
Centralized exchanges losing to DEXes? No way. DEX volume is drying up along with Defi hype. Not to mention that they aren't really used as fiat gateways. People much prefer Coinbase or Square to Bisq for that. They offer the whole package: UI, liquidity, smooth and fast banking, brand reputation, etc.
And I realize that a lot of people are excited about this, but I just don't see why.
Because it has the potential to do a lot for the
price.Paypal is exposing a lot of people to Bitcoin, including millions of people who wouldn't touch spot exchanges. They are also letting people buy without any additional verification. No IDs, utility bills, etc.
It's more than just a news pump. I believe Paypal will bring new demand for BTC that didn't exist before. Sure, it sucks as a crypto platform, but for speculators it's a big deal.