Payments giant Paypal has reached the largest Bitcoin volume for the first time since Bitcoin’s steep fall in April.
After the peak in Bitcoin in March, Bitcoin experienced a sharp decline in April.
When Bitcoin fell from $43,500 to $30,000 on May 19, $304 million worth of Bitcoin had changed hands. Bitcoin volume, which has reached such high levels for the first time since then, reached 145.60 million dollars on Wednesday. However, we are still halfway to its peak.
On the day when Bitcoin transaction volume reached its highest level since May, a record was set in Bitcoin and $ 67,000 was seen.
It is known that the increase in Bitcoin volume is influenced by the sales as well as the increased purchases during the Bitcoin price rally.
Every time Bitcoin makes an ATH, there is a significant increase in cryptocurrency trading transaction volumes, with the influence of the mainstream media. Bitcoin trading volume is growing parabolic with the rise in price and mainstream media attention as Paypal only has millions of non-crypto users.
*Not Investment Advice.