• Home
  • Cryptocurrency
    • Bitcoin
    • Ethereum
    • XRP
    • Litecoin
    • Altcoin
    • Cardano
    • Tether
    • DOGE
    • Solano
    • XLM
    • DOT
    • XDC
    • SHIBA
    • BNB
    • Ape
    • HBAR
    • QNT
  • Blockchain
  • Regulation
  • Market
  • Live
    • Prices
    • ICO
  • Meta
    • NFT
  • Technical Analysis
    • XRP
    • BTC
    • XLM
    • ADA
    • TETHER
    • ETC
    • ETH
    • DOGE
    • LTC
  • Exchange
  • Mining
Tuesday, March 28, 2023
  • Login
  • Register
Coin24h.com
  • Home
  • Cryptocurrency
    • Bitcoin
    • Ethereum
    • XRP
    • Litecoin
    • Altcoin
    • Cardano
    • Tether
    • DOGE
    • Solano
    • XLM
    • DOT
    • XDC
    • SHIBA
    • BNB
    • Ape
    • HBAR
    • QNT
  • Blockchain
  • Regulation
  • Market
  • Live
    • Prices
    • ICO
  • Meta
    • NFT
  • Technical Analysis
    • XRP
    • BTC
    • XLM
    • ADA
    • TETHER
    • ETC
    • ETH
    • DOGE
    • LTC
  • Exchange
  • Mining
No Result
View All Result
  • Home
  • Cryptocurrency
    • Bitcoin
    • Ethereum
    • XRP
    • Litecoin
    • Altcoin
    • Cardano
    • Tether
    • DOGE
    • Solano
    • XLM
    • DOT
    • XDC
    • SHIBA
    • BNB
    • Ape
    • HBAR
    • QNT
  • Blockchain
  • Regulation
  • Market
  • Live
    • Prices
    • ICO
  • Meta
    • NFT
  • Technical Analysis
    • XRP
    • BTC
    • XLM
    • ADA
    • TETHER
    • ETC
    • ETH
    • DOGE
    • LTC
  • Exchange
  • Mining
No Result
View All Result
Coin24h.com
No Result
View All Result
Ledger Nano X - The secure hardware wallet
ADVERTISEMENT

PayPal’s new crypto unit just traded over $240 million in a single day

13 January 2021
in Bitcoin
Reading Time: 2 mins read
A A
0
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter
cryptotrader
ADVERTISEMENT


The division launched last year after PayPal made a big push for building out and expanding its crypto business.

PayPal’s growing volumes

Paypal’s new crypto exchange traded north of $242 million in a single day on Monday, data from itBit, the firm’s exchange partner, showed.

Related articles

Large Whales Accumulated 37.1k BTC Recently

Large Whales Accumulated 37.1k BTC Recently

16 January 2023
World’s First National Park Banks On Bitcoin Mining

World’s First National Park Banks On Bitcoin Mining

16 January 2023

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

The American fintech player’s crypto business launched in November last year after demand for the crypto sector heated up among the traditional finance circles. It even said at the time that in early 2021 (i.e. now), the company would further plan to let customers use crypto to pay for items from its network of 26 million retailers.

[crypto-donation-box]

For now, its exchange business is booming. Data from itBit—the Paxos-owned firm which processes PayPal’s trades—showed over $242 million in trading volume yesterday. The volume was a new high for the exchange, whose previous high was a $128 million volume on January 6.

Cryptohopper
ADVERTISEMENT

The figures came as Bitcoin plummeted over 22% on Monday in a panic drop. The rest of the crypto market took a similar hit as well, with several coins dropping by similar percentages.

Meanwhile, it is unknown if the figures related to crypto purchases or sales, as itBit did not make that data available. PayPal made no comment with regard to the volumes, but it showed that the firm’s crypto business is one that attracted huge demand.

Record high liquidations

Yesterday’s drop in the crypto market registered some of the biggest liquidations to date, with nearly $3 billion going up in smokes, data from tracking app Bybt showed.

Of that $2.5 billion in “long” positions got the liquidation hammer, with $988 million getting liquidated on Binance. $406 million in “short” positions suffered as well, likely as a result of the choppy price action that followed.

Liquidations are a security feature put in place by exchanges to prevent their losses from reaching big levels. They are predetermined price levels that are developed to protect both traders and dealers from incurring significant losses beyond a specified point.

These, however, do not apply to spot positions. Instead, “margin” or “futures” traders, who borrow capital to buffer up their gains (taking on more risk, in turn) bear the brunt of such a process.

And the $3 billion in liquidations show—it can be an expensive affair indeed.

Like what you see? Subscribe for daily updates.





Source link

Tags: cryptoDaymillionPayPalsSingletradedUnit
Share76Tweet47
Ledger Nano X - The secure hardware wallet
Previous Post

Bitcoin Miners, Devs Narrow Down How Taproot Will Activate

Next Post

Why XRP suddenly spiked 35% in 45 minutes after a massive correction

Related Posts

Large Whales Accumulated 37.1k BTC Recently

Large Whales Accumulated 37.1k BTC Recently

16 January 2023
0

On-chain data shows large Bitcoin whales have finally started accumulating in the last 10 days as BTC has rallied strong....

World’s First National Park Banks On Bitcoin Mining

World’s First National Park Banks On Bitcoin Mining

16 January 2023
0

Bitcoin mining still has a bad reputation among politicians and in the mainstream media due to its large energy consumption....

Bitcoin Breaks Past $20,000 Barrier, Rallies 24% In Last Seven Days Post-FTX Mess

Bitcoin Breaks Past $20,000 Barrier, Rallies 24% In Last Seven Days Post-FTX Mess

14 January 2023
0

Bitcoin is showing some renewed energy. As of writing, the top cryptocurrency is trading at $20,883, leading the crypto market...

Bitcoin Educated: Over 65% Of Oman’s Crypto Owners Have College Degrees, Study Shows

Bitcoin Educated: Over 65% Of Oman’s Crypto Owners Have College Degrees, Study Shows

14 January 2023
0

According to the conclusions of a new Souq Analyst survey, about 65,000 of the people in Oman possess bitcoin and...

Bitcoin Holders Who Bought In Last 5 Months Now In Profit

Bitcoin Holders Who Bought In Last 5 Months Now In Profit

13 January 2023
0

On-chain data shows that the average Bitcoin short-term holder is back in profit as BTC continues the sharp upwards momentum....

Load More
Next Post

Why XRP suddenly spiked 35% in 45 minutes after a massive correction

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

We publish a comprehensive news feed covering all news relevant to the crypto user, covering main industry news, politics and regulation as well as consumer-level “news you can use” (practical stuff), including handy DIY tips, links to useful tools, unbiased reviews and opinions revolving around cryptocurrency. Simple logic and real-world examples are preferred before technical jargon and personal rants.

Categories

  • Altcoin
  • ApeCoin
  • Bitcoin
  • Blockchain
  • BNB
  • Cardano
  • Cryptocurrency
  • DOGE
  • DOT
  • Ethereum
  • HBAR
  • Litecoin
  • Market
  • Meta News
  • Mining
  • NFT
  • QNT
  • Regulation
  • SHIBA
  • Solano
  • Tether
  • Uncategorized
  • XDC
  • XLM
  • XRP

What’s New Here!

  • Binance’s BUSD Sees $500 Million In Outflows Following CFTC Lawsuit
  • North Korean Regime Exploits Crypto Mining Services for Cover
  • NFT Inspect Under New Ownership with a Vision to Strengthen NFT Communities and Drive Adoption

Newsletter

  • About Us
  • Privacy Policy
  • Contact Us

© 2022 coin24h.com

No Result
View All Result
  • Home
  • Cryptocurrency
    • Bitcoin
    • Ethereum
    • XRP
    • Litecoin
    • Altcoin
    • Cardano
    • Tether
    • DOGE
    • Solano
    • XLM
    • DOT
    • XDC
    • SHIBA
    • BNB
    • Ape
    • HBAR
    • QNT
  • Blockchain
  • Regulation
  • Market
  • Live
    • Prices
    • ICO
  • Meta
    • NFT
  • Technical Analysis
    • XRP
    • BTC
    • XLM
    • ADA
    • TETHER
    • ETC
    • ETH
    • DOGE
    • LTC
  • Exchange
  • Mining

© 2020 coin24h.com

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
  • bitcoinBitcoin(BTC)$26,879.00-0.61%
  • ethereumEthereum(ETH)$1,737.071.43%
  • tetherTether(USDT)$1.00-0.08%
  • binancecoinBNB(BNB)$310.310.70%
  • usd-coinUSD Coin(USDC)$1.000.03%
  • rippleXRP(XRP)$0.508.22%
  • cardanoCardano(ADA)$0.3576264.72%
  • staked-etherLido Staked Ether(STETH)$1,732.05-1.03%
  • dogecoinDogecoin(DOGE)$0.0725660.09%
  • matic-networkPolygon(MATIC)$1.062.23%
  • solanaSolana(SOL)$20.142.16%
  • binance-usdBinance USD(BUSD)$1.000.10%
  • polkadotPolkadot(DOT)$5.932.21%
  • litecoinLitecoin(LTC)$86.41-2.02%
  • shiba-inuShiba Inu(SHIB)$0.0000100.30%
  • tronTRON(TRX)$0.0641011.39%
  • avalanche-2Avalanche(AVAX)$16.470.23%
  • daiDai(DAI)$1.000.06%
  • uniswapUniswap(UNI)$5.732.20%
  • wrapped-bitcoinWrapped Bitcoin(WBTC)$26,947.00-0.63%
  • chainlinkChainlink(LINK)$6.81-0.57%
  • cosmosCosmos Hub(ATOM)$11.284.37%
  • leo-tokenLEO Token(LEO)$3.390.13%
  • ToncoinToncoin(TON)$2.04-4.31%
  • moneroMonero(XMR)$154.09-0.50%
  • ethereum-classicEthereum Classic(ETC)$19.762.73%
  • stellarStellar(XLM)$0.0951514.27%
  • okbOKB(OKB)$42.160.89%
  • bitcoin-cashBitcoin Cash(BCH)$119.750.48%
  • filecoinFilecoin(FIL)$5.350.82%
  • true-usdTrueUSD(TUSD)$1.000.01%
  • AptosAptos(APT)$11.000.12%
  • lido-daoLido DAO(LDO)$2.214.97%
  • hedera-hashgraphHedera(HBAR)$0.0588100.68%
  • quant-networkQuant(QNT)$119.870.86%
  • crypto-com-chainCronos(CRO)$0.0667350.42%
  • nearNEAR Protocol(NEAR)$1.850.04%
  • vechainVeChain(VET)$0.0218990.32%
  • apecoinApeCoin(APE)$4.054.76%
  • ArbitrumArbitrum(ARB)$1.15-3.21%
  • algorandAlgorand(ALGO)$0.2006060.79%
  • internet-computerInternet Computer(ICP)$4.771.64%
  • eosEOS(EOS)$1.102.20%
  • blockstackStacks(STX)$0.87-3.42%
  • the-graphThe Graph(GRT)$0.1322810.74%
  • fantomFantom(FTM)$0.4122710.02%
  • the-sandboxThe Sandbox(SAND)$0.613.31%
  • fraxFrax(FRAX)$1.000.16%
  • elrond-erd-2MultiversX(EGLD)$41.291.12%
  • decentralandDecentraland(MANA)$0.571.02%