Clients of PayPal were actively trading digital 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 two times the previous record. The founder of the information portal Nugget’s News, Alex Saunders, spoke about this on his Twitter account.
Record trading volume on PayPal coincided with a sharp drop in the cryptocurrency market. Yesterday, January 11, the Bitcoin rate fell from $41 thousand to almost $30 thousand. Most of the popular altcoins at the moment lost more than 20% of their value. To date, the market has partially recovered, now BTC costs around $34 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, Bitcoin Cash, and Litecoin, as well as use them to pay at 26 million points of sale.
