Bullish or bearish? PayPal hosts $242M in crypto trading over 24 hours

Bullish or bearish? PayPal hosts $242M in crypto trading over 24 hours


Global payments provider PayPal has doubled its previous crypto volume record, with $242 million worth of digital assets changing hands on the platform during Jan. 11.

According to crypto market data aggregator Nomics, yesterday’s trading dwarfed PayPal’s previous volume record of $129 million recorded on Jan. 6. Since Jan. 1, daily volume has increased by 950% from $22.8.

With the spike in PayPal’s volume coming amid Bitcoin’s rally into new all-time highs, the U.S.-based payments firm appears to be gathering popularity among retail traders. Nuggets News’ Alex Saunders asserted the spike in PayPal’s volume is a likely sign of increasing adoption among retail traders, tweeting: “retail has arrived.”

Retail has arrived. @PayPal cleared $242M in crypto sales yesterday. That’s nearly double the previous record. ✅ #Bitcoin #Ethereum #BullMarket pic.twitter.com/dnoPlADhla

Trending: SGT Report: The Storm Is Upon Us, This Is It!

— Alex Saunders ‍ (@AlexSaundersAU) January 12, 2021

Despite many within the crypto community praising PayPal’s entrance into crypto for driving new users toward digital assets, others have criticized

Continue reading

You Might Like

Do NOT follow this link or you will be banned from the site!
Send this to a friend