PayPal logs its largest Bitcoin volume since May BTC price crash

PayPal logs its largest Bitcoin volume since May BTC price crash

The world's leading payment services provider processed $145.60 million worth of Bitcoin trades on the day BTC rallied to its record high of $67,000. Bitcoin (BTC) trading volumes on global payment service provider PayPal reached $145.60 million on Oct. 20, just as the benchmark crypto rallied toward its record high near $67,000.The latest spike in volumes came out to be the highest since the May 19 Bitcoin price crash from around $43,500 to as low as $30,000. On the day, some $304 million worth of BTC changed hands, almost double the volumes logged on Oct. 20.Bitcoin PayPal volumes.....


Related News

Bitcoin to Overtake Established Financial Companies in Volume

In 2013, the Bitcoin overtook the (former) world's largest remittance network Western Union's value of daily transactions, recording an average daily transaction volume of US$257 million. According to Coinometrics, institutional-level Bitcoin data and research firm, bitcoin was the 7th largest financial network in the world, just behind Paypal and Discover Network. Coinometrics provided Yahoo with this chart: Two years ago, the average number of daily Bitcoin transactions was 80,000 per day, falling behind Western Union and PayPal which processed over 1 million transactions and payments....

Seafile Drops PayPal After Refusing to Spy On Users

PayPal is one of the most commonly used online payment methods in the world. At the same time, this company can force merchants to monitor user behavior or risk being cut off from the payment network. As a result, the Seafile project decided to drop PayPal due to their invasive requests. Seafile & PayPal Split. Some people may have heard the name....

Bitcoin set to overtake PayPal in 2014

Bitcoin to overtake PayPal in 2014. The Laureate Trust has announced, via a press release to The Digital Journal, that they expect Bitcoin to pass PayPal in USD transaction volume later this year. The Trust has pointed out that Bitcoin is fast establishing itself as the currency of choice for international internet purchases and payments. Bitcoin has now reached a transaction volume of $300 Million, per day. The Laureate Trust sees the current Bitcoin price, now circa US$530-560, as a tremendous opportunity to buy into Bitcoin, they advise that the currency could increase by up to 50....

Bitcoin Price Rises Thanks to PayPal Bitcoin Announcement

Bitcoin has rebounded from its recent low largely thanks to a PayPal Bitcoin announcement made earlier today. The PayPal Bitcoin announcement highlighted PayPal going a step further towards accepting Bitcoin by partnering with BitPay, Coinbase, and GoCoin in order to allow PayPal's digital goods merchants to accept Bitcoin as payment. This news resulted in the price moving from around $395 to over $450 within hours. PayPal Bitcoin Announcement a Long Time Coming. The decline in the Bitcoin price brought with it fear, speculation and an opportunity for miners and investors alike. The....

Bullish or bearish? PayPal hosts $242M in crypto trading over 24 hours

Daily crypto volume on payments giant PayPal have surged to record highs above $240 million. Global payments provider PayPal has doubled its previous crypto volume record, with $242 million worth of digital assets changing hands on the platform during Jan. 11.According to crypto market data aggregator Nomics, yesterday’s trading dwarfed PayPal’s previous volume record of $129 million recorded on Jan. 6. Since Jan. 1, daily volume has increased by 950% from $22.8.With the spike in PayPal’s volume coming amid Bitcoin’s rally into new all-time highs, the U.S.-based payments firm appears to be....