PayPal, owned by eBay, is one of the largest online debit-payment systems in the world with 346 million active accounts and $222 billion in volume processed in Q2 2020.
The company made its decision on cryptocurrency at last. PayPal customers will be able to use cryptocurrencies to shop at any merchant in its large network starting from early 2021, the company said on wednesday this week.
PayPal will initially support Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH) and Litecoin (LTC). The customers will be able to puchase crypto through PayPal's app. Venmo will be Bitcoin wallet for the platform. Paxos will deliver the service. (cointelegraph.com)
PayPal's news on crypto has been a catalyst for Bitcoin and supported its bullish sentiment. Bitcoin breaks above its two year long resistance (horizontal black line at $11,741). BTC hit $13 217.68 at Binance and trading at 12 800 now.
Although we are in a bear market, adoption of cryptocurrencies is increasing rapidly. For example,
Adoption of crypto and Bitcoin in particular gaining wide-stream adoption. For example, Antalya Homes, a real estate firm in Antalya has recorded the highest-valued real estate sale ever made while using Bitcoin as a payment in Turkey. Its customers can now pay for properties with Bitcoin (BTC). (Antalya Homes)
Another metric on Bitcoin adoption is Bitcoin ATM Installations Growth. The chart below shows number of bitcoin machines installed over time. You can easily see the parabolic increase in the installations. Us and Canada accounts for 86,7% of the crypto ATM installations.
Another indicator of crypto adoption is the growth rate of Brave Verified content creators on content platforms like YouTube, Twitter, Twitch, Web sites, Vimeo, and GitHub. The number of creators accepting BAT (Basic Attention Token) increased from the 28,000 since the beginning of 2019 to 942,974. Verified creators have signed up to receive Brave’s built-in token payments from their Brave-using audience. This is a 33x increase since then. As of today, there are 65726 detected Brave Browser/BAT Website publishers. Source: batgrowth.com
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Global adoption of crypto and the price of Bitcoin breaking above $12000 seem to provide important signals for the next year ahead.
Thanks for reading. I hope you’ve found it helpful.
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