PayPal Crypto Volume Hits $240 Million

by in Cryptocurrency News

Paypal crypto volume

PayPal records its all-time high crypto volume in one day. On January 11, users made transactions for over $240 Million. The previous high was $129 million, reached a week ago.

Related: Bitcoin cap amounted to 7% of the total market value of gold

The digital payment company has chosen to buy its crypto through the digital asset platform itBit, which presents the exchange numbers.

Although the surge is huge, it's not clear yet whether it resulted from cash in or cash out operations.

PayPal launched Bitcoin, Ethereum, Litecoin, and Bitcoin Cash trading for US customers on November 11, 2020.

In December, the CEO of the company Daniel Schulman announced that in the first quarter of 2021, users will be allowed to make payments in cryptocurrencies at 26 million markets.

On January 7, the total market cap of crypto surpassed $1 trillion, as a result of the BTC rally. Although, BTC price faced declines since then, the number of wallets having more than 1000 BTC increased. On the other hand, wallets with less than 0.1 Bitcoins fell. This shows that big investors keep being interested in the cryptocurrency.