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PayPal daily crypto transactions spike as BTC flies above $41,000

PayPal daily crypto transactions spike as BTC flies above $41,000

Quick Take

1 minute read

  • The price of Bitcoin has been continuously increasing over the past month fitting new all-time highs nearly every week/other day. 
  • This week specifically, the leading asset has been rising massively in price and has even reached an all-time high of $41,000 at the time of writing.

The price of Bitcoin has been continuously increasing over the past month fitting new all-time highs nearly every week/other day. This week specifically, the leading asset has been rising massively in price and has even reached an all-time high of $41,000 at the time of writing.

Towards the end of last year, PayPal was one Big institution that’s got heavily involved with crypto. When the company announced that it would be venturing into the crypto industry, the community was extremely bullish and welcomed it with open arms.

With crypto trading added to PayPal and its services, things are looking up for the industry.

Recently, PayPal reached a record high in its daily transaction volume with international interest in digital assets such as Bitcoin going up as well.

The platform that deals with crypto transactions on PayPal is ItBit. Since they partnered with the payments network in October last year, the platform has been reaping some significant growth in its trading volume, more than usual. In fact, they revealed that the company's transaction volume for digital assets has gone over $125 million in just one day.

With crypto and the overall industry being noticed much more on an international scale, this is a big sign that digital assets are being more noticed in the mainstream.

People are predicting that PayPal will offer its crypto services to its 26 million merchants over the next few months. Current users on the platform will be able to hold the King coin through the platform on a much easier level as well.

For more news on this and other crypto updates, keep it with CryptoDaily!

© 2020 CryptoDaily All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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