PayPal Records Record Cryptocurrency Trading Volume

Clients of the payment system actively bought and sold crypto assets in a short period, when the bitcoin rate fell by $ 10 thousand.

The daily volume of transactions was almost twice the previous maximum On January 11, the PayPal payment system recorded a record volume of cryptocurrency trading.

During the day, users of the service made transactions with digital assets worth $ 242 million, which is almost double the previous record. The founder of the information portal Nugget’s News, Alex Saunders, spoke about this on his Twitter account.

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

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— Alex Saunders 🇦🇺👨‍🔬 (@AlexSaundersAU) January 12, 2021

Record trading volume on PayPal coincided with a sharp drop in the cryptocurrency market. Yesterday, January 13, the bitcoin rate fell from $ 41 thousand to almost $ 30 thousand. Most of the popular alkoins at the moment lost more than 20% of their value. To date, the market has partially recovered, now BTC is worth $ 36 thousand.

The ability to work with cryptocurrency in the PayPal system appeared in November. Then the service allowed American users to buy, store and sell Bitcoin, Ethereum, Litecoin and BitcoinCash, as well as use them to pay at 26 million points of sale.