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October 3, 2022
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PayPal with a record volume regarding Bitcoin –

Recently, we saw a correction in Bitcoin and altcoin prices in the market. Interestingly, during this time, the daily volume of cryptocurrencies available in the PayPal payment service has increased to a record level of over 240 million USD.

PayPal and BTC correction

Global payment service provider PayPal has doubled its previous cryptocurrency volume record. This time it was as much as USD 242 million. Digital coins of this value changed hands on the platform yesterday, January 11.

According to the cryptocurrency market data aggregator Nomics, yesterday’s turnover overshadowed PayPal’s previous record of $ 129 million, which was registered on January 6. In turn, from January 1, the daily volume increased by as much as 950 percent.

The growing volume on PayPal means that more and more investors are using this company’s service. Alex Saunders of the Nuggets News recently stated that the surge in volume is likely a sign of BTC’s rising popularity among retailers.

Closed Cryptocurrencies

Although many members of the cryptocurrency community are pleased with PayPal’s recent cryptocurrency decision, others have criticized the company for creating “Closed” structures. What do they mean? Well, the service does not include payouts, and Twitter user Toomas Zobel even speculates that the latest volume increase may have only been due to a Bitcoin sell-off.

Is there a way to check if it was a buy or sell volume? – He was asking.

We don’t know if Zobel’s concerns are grounded.

Paypal’s cryptocurrency services can be accessed through the ItBit exchange by Paxos. PayPal is expected to offer its cryptocurrency service to 26 million sellers. This mass adoption is expected to take place in the coming months, possibly increasing the demand for the company’s services.

Current course You can always check Bitcoin and other cryptocurrencies in the tabs: exchange rate Bitcoin and the cryptocurrency rate on the website . A place where you can buy BTC and more coins, include cryptocurrency exchange BitBay.net. If you do not have an account on BitBay yet, from this article you will learn how to efficiently create one: LINK.

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