Global payments provider PayPal cleared $242 million worth of digital assets on the platform during Jan. 11, 2021. It has doubled its previous crypto volume record of $129 million. PayPal’s volume is a clear sign of increasing adoption among retail traders.
— Alex Saunders 🇦🇺👨🔬 (@AlexSaundersAU) January 12, 2021
Bitcoin price adoption
Bitcoin price just crashed from $40,000 to $32,000. It is a 20% correction, which is not unusual for crypto assents. This correction is not connected with PayPal’s news. Moreover, we can expect another bull run due to crypto adoption news that is coming every day.
PayPal embracing Bitcoin and other cryptocurrencies
The crypto community is divided into two tribes. The first part is praising PayPal’s entrance into the crypto space and embracing new users. The second part is criticizing PayPal for its hybrid relationship with crypto.
Everyone now expects that PayPal will offer cryptocurrency services to its 26 million merchants in a few months.