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 gathering popularity among retail traders. Nuggets News’ Alex Saunders asserted the spike in PayPal’s volume is a likely sign of increasing adoption among retail traders, tweeting: “retail has arrived.”
Retail has arrived. @PayPal cleared $242M in crypto sales yesterday. That’s nearly double the previous record. ✅ #Bitcoin #Ethereum #BullMarket pic.twitter.com/dnoPlADhla
— Alex Saunders (@AlexSaundersAU) January 12, 2021
Despite many within the crypto community…