Source: Wit Olszweski – Shutterstock PayPal executives have confirmed that Bitcoin and Ethereum will be integrated into the digital wallet globally in the first quarter of 2021. PayPal first wants to gain experience with cryptocurrencies before the integration of digital central bank currencies (CBDC) is pushed. PayPal provided a few days ago for a hype … Cryptocurrencies latest news and history organized by date that contains 1000000+ news archives. Click here to read what world was saying about cryptocurrencies. Cryptocurrencies latest news and history organized by date that contains 1000000+ news archives. Click here to read what world was saying about cryptocurrencies. PayPal will expand its cryptocurrency services in 2021. This was announced by CEO Dan Schulman, reporting the results for the third quarter of 2020. The defi platform cvx.finance has launched the beta version of its “Crypto Volatility Index”, otherwise known as the “CVX.” It is a day of suffering for the entire cryptocurrency sector which today sees losses for almost all coins, only a handful fluctuate above parity.
PayPal provided a few days ago for a hype on the crypto market, when the payment giant announced to integrate Bitcoin, Ethereum and further cryptocurrencies to the digital wallet. In a new investor update the enterprise provided further details about the exact roadmap of the next months.
As part of the update, Dan Shulman, CEO of PayPal, said that the financial world is undergoing a transition from physical to digital currencies and that PayPal will play a critical role in this revolution. Various cryptocurrencies and fin-tech projects are forcing traditional providers such as SWIFT and PayPal to question the existing infrastructure and offer new payment solutions to their customers, according to Shulman.
Shulman is firmly convinced that the traditional financial structure has had its day and that the time is ripe for a revolution and that PayPal can and will promote future development due to its reputation and innovative power:
I do think that our platform and all the new digital infrastructure that we’re putting in place right now can help make that management and movement of money more efficient, less expensive, and faster.
The CEO went on to describe that the demand for cryptoservices within the company has risen sharply and by the end of the year all U.S. citizens will have access to cryptocurrencies via PayPal. The expansion of services for the remaining customers outside the United States of America is expected to follow in the first quarter of next year.
Shulman emphasized that many users look into their wallet several times a day to closely monitor the performance of their assets:
We’re seeing people who have already bought crypto open their wallet several times a day to check out what’s happening with their crypto investments.
Due to the great interest PayPal will increase the weekly purchase limit from $10.000 to $15.000. PayPal also plans to integrate cryptocurrencies into the digital wallet Venmo, which already has 300 million users worldwide. This will bring 346 million users into contact with cryptocurrencies via PayPal and 300 million more via Venmo.
PayPal users can also use cryptocurrencies with over 28 million connected merchants in the payment network. In a new podcast by Anthony Pompliano with Reuters correspondent Anna Irrera, who also wrote the headlines for PayPal’s plan to enter the crypto market, Irrera explained that PayPal is also preparing to integrate CBCDs.
The start with decentralized cryptocurrencies serves according to Irrera among other things also to gain experience with these new assets. According to PayPal CEO Shulman, it is not a question of whether CBDCs will come, but only when. The company would therefore like to play a decisive role in shaping further developments in this area and further promote adaptation.
Author: News Bureau
Cryptocurrencies archive news by date
- Rise of the Underdog, Securypto Takes off as Investors Scramble To Get on Board
- VeChain Price Prediction 2020 – Will The VET Price Gear Up?
- Bitcoin and Cryptocurrency Market Roundup for the Week Gone By
- eToro Is First Major Exchange to Lend Support to the Flare Network
- Charted: Ripple (XRP) Holds Strong, Bulls Could Aim Fresh Test of $0.25
- Switzerland to Allow Russian Gazprombank Subsidiary to Offer Crypto Services
- Ripple Price Analysis: Fresh Rally Likely if it Clears $0.246
- Digital yuan: China processed over $299M so far using CBDC in pilot
- Ethereum [ETH] HODLing on Rise As Active Supply Hits 17-month Low
- PBoC Governor Says ‘Successful’ Digital Yuan Trials Have Transacted $299M
- US Department of Justice charges a 19-year old for an alleged SIM-swap crypto theft.
- Bitcoin (BTC) Could Surge to $3,000,000 Within Five Years, Says Crypto Hedge Fund Manager – Here’s Why
- OneCoin Lawyer Mark Scott Banned from Practicing Law in New York State
- Maker Foundation joins Binance, LG on Klaytn’s Governance Council
- Expect 30% Pullback in Bitcoin Market, Analyst Warns
- Google searches for Bitcoin are on the rise in Cuba
- Chinese digital yuan pilots have processed over four million transactions so far.
- Is Binance evading regulators?
- Australia’s Reserve Bank Partners With ConsenSys Over An Ethereum-Based CBDC
- Tron Fdn. To Compensate TRON Community in OKEx Worst Case Scenario
- Cayman Islands Announces Legal Framework in Bid to Attract Crypto Businesses
- PBoC governor says digital yuan’s pilot has done 4 million transactions so far with $300 million
- EOS, Synthetix, Decred Price Analysis: 02 November
- Stellar Lumen (XLM) Price Signaling Start of Fresh Increase To $0.085
- Safest Bitcoin Casinos 2020
- Market Analysis Report (02 Nov 2020)
- Monday’s Market Watch: Bitcoin Drops $300 In Minutes, Elections Volatility Incoming?
- Australia to explore blockchain-based wholesale central bank digital currency
- Get ready for US elections: 5 things to watch in Bitcoin this week
- Australia Taps Ethereum for Digital Dollar (AUD) Project
- CryptoWhale Warns Against The Crippling Effect Of Bitcoin’s Current Bull Run
- BitMEX co-founders accused of looting over $400,000
- Bitrue Yield Farming Goes Live With 500% APR and Mining Pools
- EcoChain in DeFi: What it means for the ecosystem
- Bitcoin enters miner Capitulation Phase! Will it propel Altcoin Season?
- BBC Radio Scotland Show Goes Bullish on Bitcoin (and Whiskey)
- Ethereum Expected to Gain Further Strength as Price Taps $400
- Why a Bitcoin Pullback Could Result in a Drop to $11,500
- BTC traders caught off guard: 3 reasons Bitcoin dropped 2% in just 1 hour
- Bitcoin and Ethereum Rises and Falls as US Election Looms
- ЦБ Австралии изучит потенциал выпуска своей криптовалюты
- Bitcoin Enters Miner Capitulation Phase! Will It Propel Altcoin Season?
- Square Crypto предоставила грант дизайнеру с миссией по улучшению интерфейса биткоин-кошельков
- Джастин Сан рассказал о крупной атаке на сеть Tron
- Юриста финансовой пирамиды OneCoin лишили адвокатской лицензии
- Рост цены биткоина увеличил популярность криптомайнеров
- Российский экс-хоккеист получил 4 года колонии за мошенничество с криптовалютами на $800 000
- Власти США рассказали о новых вредоносах. Их связывают с российскими хакерами
- Глава ЦБ Китая сообщил о 4 млн транзакциях в цифровых юанях
- Опрос: 9% японцев инвестировали в NFT-токены более 1 млн иен
- СМИ: хакеры выставили на продажу 10 000 паролей пользователей Robinhood
- Сообщество Uniswap вновь не набрало кворума во втором в истории платформы голосовании
- Bitcoin (BTC) Fiyatı İçin Çok Sert Uyarı: Buna Hazır Olun
- Sıcak Gelişme: Tron Saldırıya Uğradı!
- Ethereum Fiyatı İçin Kritik An: “Tetiği Çekmeye Hazırız”
- Binance İki Kripto Para İçin Müjdeyi Verdi
- Bitcoin’den Bir Rekor Daha Geldi: BTC Fiyatı Nasıl Etkilenir?
- ABD Seçimleri Yaklaşırken, Bitcoin’in Geleceği Ne Olacak?
- Meet Agah Sesli, CMC’s Ambassador From Turkey
- Coin Race: Top Winners/Losers of October 2020; Bitcoin Reigns the List
- Despite 10% bounce in AAVE and YFI, analysts don’t think the DeFi bottom is in
- Use of China’s Digital Yuan Nears $300 Million
- Cuban citizens show an increased interest in bitcoin.
- Ethereum Active Supply Hits 17-Month Low; How Does It Impact Price?
- Are US election candidates holding Bitcoin?
- Bitcoin Revisits $13.5K After Posting Best Month Since April
- Cayman Islands introduce regulations for virtual asset service providers
- TRON Network: Justin explains a now-fixed attack on TRON during upgrade
- TRON’s Justin Sun Reveals An Unsuccessful Attack On The Network, All Funds Are SAFU
- Stellar Lumens, Algorand, Verge Price Analysis: 02 November
- Place Bets on the Upcoming US Presidential Election on 1xBit
- Kava’s DeFi Money Market Cross-chain, Hard Protocol, Launches Yield Farming on Binance Launchpool
- Australian RBA Is The Latest Who Decided To Look Into CBDCs
- Chainlink Price Pulls Back, but Bullish Crossover Remains Intact
- PewDiePie Pushes Video Game That Gives Out Crypto
- Blockchain could make dismantling nuclear weapons more “safe, secure, and reliable.”
- Hard Protocol launches yield farming on Binance
- Don’t Be Surprised If Bitcoin Price Corrects 30% from Here Says Crypto Analyst
- Ethereum price prediction: ETH to rise to $408, analyst
- How Outcome of U.S. Presidential Election Could Affect Bitcoin Price
- Bitcoin Pullback As U.S. Presidential Elections Loom Could Ignite Meteoric Altcoin Upsurge: Analyst
- Bitcoin price prediction: BTC to test $14500 next, analyst
- Report: Blockchain-related hacks have declined in 2020
- Who will win the election? A look at what the prediction markets tell us
- Blockchain Could Make Dismantling Nuclear Warheads More Secure: UK Report
- Binance Coin short-term Price Analysis: 02 November
- Recent Calls for a Digital Euro Bolster the Bitcoin Bull Case
- Which Bitcoin Casinos Are Legitimate?
- ETH Price Analysis: After Another Failed Shot At $400, What’s Next for Ethereum?
- Monero price prediction: XMR to move above $157, analyst
- Derivatives Trading Volume Increased by 25% in the Third Quarter of 2020
- eToro Adds Insolvency Insurance Policy – Crypto Users Not Included
- Whales Accumulate XRP Despite the Immense Selling Pressure
- Bitcoin and Altcoins Trim Gains, Key Supports Intact
- Venezuela to Incorporate Bitcoin and Litecoin Wallets into National Remittances Platform
- Australian central bank mentions “Ethereum” as digital currency push continues
- Bitcoin Price Sinks $6% From Weekend Highs As Election Day Approaches
- Opium Raises $3.3M to Make Exotic Crypto Derivatives Available to All
- Bitcoin scam: ex-hockey player sentenced to jail
- Tron, Ontology, DigiByte Price Analysis: 02 November
- Overbought Bitcoin Drops from $14K High as Election Looms; What’s Next?
- Is illicit activity on DeFi low enough to evade regulator interest?
- Incredible 400% ROI on DeFi coins with Spectre’s DeFi Boost Wallet
- Reserve Bank of Australia Considers Use of Digital Currency Powered by the Ethereum Blockchain
- Decentralized VPN Sees Increased Use in Nigeria Amid #EndSars Protests
- Paxful to Roll Out Crypto Debit Card for US Customers
- Bitcoin Miners Saw 8% Revenue Increase in October
- Justin Sun says TRON mainnet attacked, block production was suspended
- First Mover: Bitcoin Retreats Before U.S. Election After Dominating Crypto in October
- Mina Blockchain Voting for Elections With More SNARK
- Retirement Crisis Warning Goes Viral – Here’s How Bitcoin Bull Raoul Pal Sees the Future of the Economy
- Can Bitcoin hang on to $13,000? Here is the main challenge it faces
- Over 2 billion digital Yuan spent so far
- Binance Labs–Backed ‘DeFi Credit Union’ Bringing Higher Yields to Savers in Nigeria
- Tron’s JustLink Said to be a Chainlink ‘Copy-Paste’; Tron Mainnet Attacked
- Monthly decentralized exchange volumes declined in October, falling to $18.5 billion
- Can the Raspberry Pi 400 Run a Full Bitcoin Node?
- Litecoin, Polkadot, FTX Token Price Analysis: 02 November
- Exploit Sinks Axion Token Price 99% on Its First Day
- More crypto-banks incoming, says OCC’s Brian Brooks
- eToro insolvency insurance does not cover crypto investors
- Crypto Market Sentiment Sinks into Neutral Zone; EOS Rules the Week
- Blockchain Could Help Reduce Nuclear War Risks: Report
- Paxful launches crypto debit card for U.S. users
- Bitcoin’s Higher High Shows Just How Weak Fiat Currencies are Becoming
- Bitcoin Mining Difficulty Set For Double-Digit Drop on Tuesday
- XRP, LTC, ADA, LINK, etc: Which altcoins are zombie coins that you need to sell?
- Beaxy Exchange Adds Support for Six National Currencies
- Ethereum price faces a potential 30% correction after failing to break $400
- Ethereum Struggles to Gain Momentum Following 8,170 ETH Exchange Deposit
- 3 CBDC Projects, Bitcoin Lightning Hits Pool, Verizon Taps Blockchain + More News
- Bitcoin’s is the only story that matters right now – True or False?
- Flare Says XRP Ledger Will Enter $10 Billion Market With Launch of Smart Contract Integration
- Nuclear disarming: blockchain the solution
- Bitcoin’s Lightning Network Is Getting a Marketplace for Payment Channel Liquidity
- Lightning Labs launches liquidity marketplace on the Lightning network
- China’s digital yuan used in 4 million transactions so far
- TRON’s network resumes block production after a malicious attack
- Bitcoin’s Retrace Could Inject Fuel into the Altcoin Market, Igniting a Rally
- DeFi Trading App Dharma Now Connects Directly to US Bank Accounts
- Lightning Labs Brings DeFi to Bitcoin With Lightning Pool
- ECB’s Christine Lagarde is “prepared” for digital Euro as crypto interest rises
- Lightning Labs Releases Channel Liquidity Marketplace
- Equilibrium Partners with Chainlink on Price Oracles
- CBDC: Reserve Bank of Australia considering an Ethereum based digital currency
- In the CBDC Race, It’s Better to Be Last
- Bitcoin SV long-term Price Analysis: 02 November
- Lightning lab transforms bitcoin with new liquidity marketplace
- KuCoin hacker switches mixer approach and opts for Wasabi Wallet: Elliptic
- Whale Alert: Over $400 Million Worth of USDT Just Sent To Huobi – Is Something Cooking?
- Tron Blockchain Stalled for Hours by ‘Malicious Contract,’ Justin Sun Says
- Blockchain Bites: Digital Yuan’s 4M Transactions, Bitcoin’s 33-Month High, Uniswap’s Second Governance Vote
- 29 Projects Integrated With Chainlink Last Month
- Cardano short-term Price Analysis: 02 November
- 5 signs that the real Bitcoin rally may only be just beginning
- Stablecoin adoption on eToroX for FX Trading
- Crypto Roundup: November 2nd, 2020
- Artist, gamer or property mogul? Follow the NFT road to find earnings
- Huobi denies the $400 million it clearly received to keep a secret
- Decentralized Exchange Volume Dropped 25% in October
- Bitcoiners Weigh In On The U.S. Presidential Election
- Bitcoin’s highest monthly close since 17-18 – What to expect this November
- Bitcoin’s adjusted on-chain volume in October hit its highest level since July 2019
- Crypto Market Analysis: 2nd November 2020
- Huobi Denies Rumors That Senior Executive Was Arrested
- MicroStrategy Now Owns Half a Billion Worth of Bitcoin
- SEC votes to simplify exempt offering rules for securities
- Christine Lagarde Makes It Official: European Central Bank Exploring Launch of Digital Currency
- Brave Browser: number of monthly users increases 130% in 1 year
- Price analysis 11/2: BTC, ETH, XRP, BCH, LINK, BNB, LTC, DOT, BSV, ADA
- Bitcoin in “overbought territory” says researchers as BTC suddenly corrects
- Blockchain tech may reduce nuclear risks: report
- Analysts Target Decline to $11,500 as Bitcoin Begins Diving Lower
- Tezos, IOTA, OKB Price Analysis: 02 November
- What Does the Election Hold for Bitcoin?
- South Korean Regulator Bans Privacy Coin Trading, Beefs up Crypto AML
- Court Filing Accuses Bitmex Cofounders of ‘Looting’ $440 Million Before the Fed Crackdown
- Bitcoin $600 Below Saturday’s 2020 High, Retest Incoming? (BTC Analysis)
- Ethereum long-term Price Analysis: 02 November
- What does Trump/Biden Presidency mean for Bitcoin [BTC] Prices?
- Mastercard President Says Crypto Patents Will Pay Off When Central Bank Digital Currencies Arrive
- Users are gaming the most popular NFT marketplace, and some artists feel left out in the cold
- ETH 2.0: Client diversity issues persist on Medalla testnet
- Huobi Dismisses Reports of COO Being Investigated; Token Dips By Over 16% After Controversy
- These three factors might help LINK Marines play the long game
- USA votes to amend complex securities
- SEC Finalizes Rule Change That Could (One Day) Juice Token Sales
- Justin Sun and Super Friends ‘Save’ Tron From Mysterious Hack
- Ethereum Could Plunge to $315 if Bulls Fail to Defend One Key Level
- Harpreet Singh Sahni Faces 24 Years for Alleged Crypto Fraud
- Who Is Better for Bitcoin, Trump or Biden?
- Sudden minting of 79 billion AXN tokens causes 100% price crash
- Silent XRP Accumulation Builds Pressure For Breakout Against Bitcoin
- Bitcoin Far Outperforms Gold and S&P 500 As US Election Approaches – eToro Crypto Roundup
- Bitcoin Bounces $500 After 7% Correction: What’s Next for BTC?
- Bitcoin miners saw a notable bump in transaction fee revenue during October
- Ethereum DEX Volumes in October Were Worse Than You Might Think
- Justin Sun Hints Tron Community About A Large-Scale Attack That Rocked The Ecosystem
- Market Wrap: Bitcoin Bounces From $13.2K; Ether on Centralized Exchanges at 2-Year Low
- Bitcoin and Crypto Market Analysis 2.11.2020
- Major Defi Token Prices Plunge, as Money Moves Back Into Bitcoin
- Data shows increased Huobi exchange outflows as firm denies executive arrest rumors
- Chainlink Could Soon Rally Towards $13.60 as Bulls Build Strong Support
- Lightning Labs sets up liquidity marketplace on Bitcoin’s Lightning network
- Crypto Listing and Delisting Announcements: Week 44
- Bitcoin Reddit Roundup October 2020
- Bitcoin price prediction – BTC/USD price holds $13,620 awaiting US Presidential election results
- PayPal CEO Discusses ‘Expansive’ Digital Wallet Plans on Q3 Earnings Call
- Huobi reassures users amid large USDT and Bitcoin transfers
- DeFi credit default swap platform Opium Protocol raises nearly $3.25 million
- CNBC’s Top Trader Pete Najarian Entering Bitcoin Market, Says Crypto Category on Fire
- No Truth to Rumors of Crypto Executive’s Arrest: Huobi
- China’s Central Bank Has Transacted $300 Million In Digital Yuan So Far
- Cryptocurrency: Paxful announces new crypto debit card for the U.S.
- Another Bitcoin Firm Turns Its Back on Venezuela
- Hong Kong Love Scam Steals Cryptocurrency
- MicroStrategy Bitcoin surges by 21 percent, now worth over $500 million
- ‘This is just the beginning’: PayPal CEO highlights planned push to support more digital currencies
- Indicator Shows Bitcoin is “Overbought” as Average Investor Profit Hits 115%
- Crypto Browser Brave Hits 20 Million Monthly Users
- Ripple, PayPal, and Twitter join coalition calling for fair elections
- Huobi denies rumors of executive’s arrest as Bitcoin outflows continue
- CME Bitcoin Market Is Trading in Bullish Ascending Triangle Pattern
- CertiK dissects the Axion Network incident and subsequent price crash
- These governments own cryptocurrency
- PayPal crypto services to go global early 2021, support for CBDCs coming
- Federal Reserve Staff Sluiced Wall Street Bankers With Trillions From the Comfort of Their Mansions
- Ethereum Whales Kicks Off Crypto Market Downturn With 4000 ETH Dump
- Crucial Ethereum Price Fractal Predicts Surge Toward $430
- SEC Makes It Easier for Crypto Startups to Raise Funds
- Cardano price prediction: ADA to move to $0.106, analyst
- Litecoin price prediction: LTC to expect a fall to $45.09, analyst
- Heavy Bitcoin whale traffic on Sunday still affecting BTC?
- Ripple price prediction: XRP to fall towards $0.228, analyst
- Ethereum Price Analysis: ETH Potential Breakdown Eyes $340 If This Support Fails To Hold
- Volatility Inbound: Bitcoin Traders are Upping Their Leverage as Election Nears
- South Korean Doctor Says Blockchain ‘Must Be Used’ to Fight Crisis
- Chainlink Price Forecast: LINK Downward Momentum Gains Traction
- TA: Bitcoin Correction To $13k On Horizon As Bulls Lose Control at $13.7k
- Hong Kong’s SFC will require all crypto exchanges to be regulated
- Facebook & Libra’s David Marcus Is Asking About Ethereum DeFi
- Factom Protocol: An Outstanding and Avant-Garde Blockchain
- Hong Kong crypto exchange: SFC to regulate all crypto trading platforms
- 6 Things to Know Before You Start Trading Cryptocurrency
- DeFi Tokens Bleed Out as Crypto Markets Correct
- Heavy Bitcoin whales’ action before US election
- Zero-sum game: DeFi declines while Bitcoin booms
- Ubisoft-backed Blockchain RPG Lets Players ‘Fork’ the Game
- HSBC Bangladesh uses blockchain to import 20,000 tons of fuel oil from Singapore
- China and Hong Kong Cracks Down on Crypto as Markets See Red
- US elections rigged again? Over $870M in BTC moving before results
- Blockchain For Online Startups: The Secret to High Efficiency?
- TA: Ethereum Near Make-or-Break Levels, Why There’s Risk of Sharp Decline
- Defi Index CVX Measures Crypto ‘Market Fear’ and Implied Volatility
- The 2020 Elections Are Boosting Crypto Prediction Markets
- Former Cryptopia staffer allegedly stole $246K worth of cryptocurrency
- PayPal CEO Explains How His Firm Will Increase Utility of Cryptocurrencies
- Bitcoin and Altcoins Face Increased Selling Pressure
- A Quick Guide on – What is Liquidity Pool ?
- Latest Bitcoin Sell-Off Prepares Launchpad Towards $15K; Here’s How
- Доходность криптофьючерсов на победу Трампа превысила 160%
- Bloomberg: В даркнет попали 10 000 паролей пользователей Robinhood
- Tecтoвыe плaтeжи в цифpoвыx юaняx пpeвыcили $З00 млн
- A Quick Guide on – What is Liquidity Pool ?
- Dash Coin Price Prediction: Where Is DASH Heading In The Near Future?
- Major Crypto Assets Paint in Red Yet Popular DeFi Tokens Retrace
- Ripple Escrow and Whales Pile up XRP, Will the Price Be Affected?
- Гонконг распространит регулирование на все криптовалютные биржи
- Собравший $20 млн блокчейн-проект Eximchain объявил о закрытии
- Число ежемесячных активных пользователей криптобраузера Brave превысило 20 млн
- NFT как новый класс виртуальных активов: биткоин и предметы коллекционирования
- Эксперты спрогнозировали давление на биткоин из-за создания CBDC
- Chainalysis: у DeFi-проектов неопределенный регуляторный статус
- Нативный токен Huobi обвалился на фоне крупных переводов USDT с биржи
- Юрист: в РФ существует вероятность запрета DEX
- Трейдер рассказал о негативном сценарии для цены биткоина
- Мнение: для запуска биткоин-биржи нужна уверенность в многократном росте рынка
- Платежная платформа Венесуэлы добавит поддержку биткоина и Litecoin
- MakerDAO присоединился к блокчейн-проекту технологического гиганта Kakao
- Мошенники воспользовались популярностью DeFi-проектов для обмана инвесторов
- На Кайманах вступили в силу поправки в законодательство о криптовалютах
- FTX объявила о начале торгов токенизированными акциями Apple, Facebook и Amazon
- Китай займет активную позицию в разработке международного регулирования CBDC
- В сети обнаружили базы данных с 34 млн записей пользователей 17 компаний
- Google Trends: на Кубе вырос интерес к биткоину
- Square Crypto предоставила грант дизайнеру интерфейсов биткоин-кошельков
- PayPal’ın Kripto Para Planlarının Detayları Belli Oldu!
- Ripple (XRP), İçinde PayPal ve Twitter’ın da Olduğu Gruba Katıldı!
Cryptocurrencies archive news by date
PayPal, 2021 is the year of cryptocurrencies
PayPal will significantly expand its cryptocurrency services in 2021. This was announced by CEO Dan Schulman, reporting the results for the third quarter of 2020.
In presenting the data, referring to cryptocurrencies, Schulman said:
“This is just the beginning of the opportunities we see as we work hand-in-hand with regulators to accept new forms of digital currencies”.
This suggests that services could include the custody of digital currencies issued by central banks, the so-called CBDCs.
At the moment, however, cryptocurrency trading services are only available to 10% of users in the US. But, the CEO said, demand is very high, well beyond expectations.
According to PayPal’s plans, in 2021 it will be possible to make cryptocurrency payments using PayPal accounts directly.
The financial results of Q3 in 2020 say that PayPal is well on track. The report released by the company indicates impressive numbers:
With these numbers, PayPal is opening up to the cryptocurrency sector, explicitly saying that the company:
“Signaled its plans to significantly increase cryptocurrency’s utility by making it available as a funding source for purchases at its 28 million merchants worldwide”.
This exponential growth was enthusiastically commented on by Dan Schulman:
“PayPal’s third quarter was one of the strongest in our history. Our growth reinforces the essential role we play in our customers’ daily lives during this pandemic. Going forward, we are investing to create the most compelling and expansive digital wallet that embraces all forms of digital currencies and payments, and operates seamlessly in both the physical and online worlds”.
Ever since it officially announced its cryptocurrency trading service, PayPal has given the industry a strong boost, contributing to the Bitcoin rally. BTC, as a result of the news, triggered a bullish race that stopped at just below $14,000.
Now that the first purchase of BTC on PayPal has been made, all that is left to do is wait for the implementation of the new services to a very large number of users.
With PayPal entering the space, mass adoption of cryptocurrencies is within reach.
Author: By Eleonora Spagnolo
– 3 Nov 2020
Defi Index CVX Measures Crypto ‘Market Fear’ and Implied Volatility | Finance Bitcoin News
The decentralized finance (defi) platform cvx.finance has launched the beta version of its “Crypto Volatility Index”, otherwise known as the “CVX.” The CVX is an index similar to the “Market Fear Index” (VIX) commonly used in traditional finance, but cvx.finance measures the suggestive volatility from bitcoin and ethereum options markets.
It’s still early but a new product has been launched that may be able to give cryptocurrency traders a rough idea of how the crypto market is feeling and if traders expect future price fluctuations.
The new service is a beta product produced by the cvx.finance platform and the creators claim the application is a decentralized version of VIX. The VIX is commonly used in traditional finance markets because it allows traders to hedge or to take profit from market volatility.
Basically, the CBOE Volatility Index (VIX) measures the market volatility of the S&P 500 Index options during the course of a 30-day timespan. Traders call the VIX a “fear index” and the index is calculated in real-time via CBOE’s exchange engine.
For instance, the higher the VIX is it means the S&P 500 is expected to decline and if the VIX drops then traders expect the S&P 500 index to remain relatively stable. The cvx.finance CVX refers to the crypto economy’s “Crypto Volatility Index” by measuring implied volatility via ethereum (ETH) and bitcoin (BTC) options markets.
“We have created CVX so that traders can hedge themselves against volatility or lack thereof,” explains the CVX documentation. “CVX is a full-scale decentralized ecosystem that brings the sophisticated and very popular ‘market fear index’ to the crypto market and is created by computing a decentralized volatility index from cryptocurrency option prices together with analyzing the market’s expectation of future volatility.”
The CVX developers detail that the project leverages a Black-Scholes option pricing model that is integrated with crypto market conditions. The project uses “Chainlink architecture with multiple oracles to retrieve the required data and calculate the formulated CVX using external adapters.”
Then the calculated results from each oracle are “aggregated, verified, and passed to the blockchain node so that the data can be accessed and used both by the requesting smart contract and as a service for other use case implementations.”
The Crypto Volatility Index creators stress:
The combined CVX index is a weighted sum of CVX indices calculated for several cryptocurrencies (for example BTC and ETH), where weights are based on the currency market cap.
At the time of publication, the CVX is awfully high and the previous hour saw a measurement of around 72.15.
Last week, the CVX saw a high of 72.4 and a low of 60.28, which shows that traders seem to be fearful of increased volatility judging by the CVX. Since the start of the CVX’s measurements of implied volatility, it seems like there’s a direct inverse correlation between bitcoin’s (BTC) spot market prices and the CVX index.
Another index, hosted on the web portal alternative.me called the “Crypto Fear & Greed Index” (CFGI) is a plot of the fear and greed index over time.
“A value of 0 means ‘extreme fear,’ while a value of 100 represents ‘extreme greed,’ according to the web portal’s index description. Currently, the CFGI is beyond “fear” at the moment and the metric is in the “greed” zone with a value of around 71.
What do you think about the CVX index? Let us know what you think about this subject in the comments section below.
30-days, 72.15, alternative.me, Bitcoin (BTC), bitcoin volatility, Black-Scholes, CBOE Volatility Index, CFGI, Chainlnk, CVX, cvx.finance, Ethereum (ETH), Finance, fluctuations, Greed, Implied volatility, index, market fear index, Options markets, Price, pricing model, S&P 500, VIX
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
Cryptocurrencies experiencing losses: profit taking prevails
It is a day of suffering for the entire cryptocurrency sector which today sees losses for almost all coins.
Out of the first 100, only a handful fluctuate above parity, and the rest suffer even double-digit declines.
Bitcoin goes against the trend and earns 1.5% over the 24-hour period
After last week’s rises, culminating in the weekend’s tops, profit taking continues to make itself felt, with a clear prevalence of sales that are rejecting prices at mid-term levels.
This is also observed on Bitcoin, which is the only one among the first 30 that on a weekly basis continues to have a positive balance, highlighting how the period is subject to the ups and downs of the crypto queen.
This is also reflected in the dominance. During periods in which sales prevail and operators seek stability for their capital, Bitcoin emerges as the crypto of choice and in the last few hours, this is leading to a further increase in its dominance, which goes beyond 64% of market share, the highest level it had not recorded since the first ten days of July.
This is affecting Ethereum’s dominance, which falls just below 12.2%, while Ripple falls to 2.7%, the lowest level in the last three years.
Total capitalization also falls again below $390 billion, the lowest level since mid-October.
The day sees only a handful of cryptocurrencies above parity in the top 100. Among them is The Midas Touch Gold (TMTG), which is the only one that is clearly against the trend and flies with a 11% gain.
Augur (REP) also stands out among the few uphill ones, earning just over 1%, due to the token that in the last few hours is used for bets made on the US elections, on a dedicated platform.
Among the big ones, the worst of the day is Chainlink (LINK) which loses 11%.
Unlike yesterday, today the bleeding of DeFi tokens is evident. Among the worst is a sharp double-digit decline for tokens in the decentralized finance system. The worst of the day is Reserve Rights (RSR) down by about 20%, followed by Aave, Sushi Swap (SUSHI), Ocean Protocol (OCEAN), Synthetix Network (SNX), Compound (COMP), down more than 15%.
TVL is again falling below the $11 billion threshold. Uniswap, Maker and WBTC remain the first three projects used.
Despite the descent that began after failing to exceed $14,000 over the weekend and the setback that yesterday saw prices slide to $13,200, the first level of short support, Bitcoin tries to react by reaching $13,500.
This is due to the short bearish positions being covered rather than a real return of the bears.
Purchases remain at the levels of the past few days, above $1.5 billion, but, unlike last week, they arrive at a weak moment with a prevalence of sales and coverings. For Bitcoin, it is necessary to find a support base from which to set up a new rise.
It is necessary to wait for a consolidation base, at the moment identified in the 13,000-13,200 dollar area. These are the levels to be confirmed in the next few hours and days in order not to witness a lunge that has not left clear supports during the ascent of the last two weeks and finds space for any dangerous descents down to area 12,200.
For this reason, it is necessary to wait for the construction of a valid base from which to start again.
Ethereum was already struggling in recent days to keep up the bullish pace of Bitcoin. The lack of strength of BTC is reflected in the weakness of ETH in the last week.
Ethereum yesterday, after having failed to hold the $390 support, which has now become resilient again, sees an extension towards the $370 area, the lowest level of the last 15 days.
A further descent leads therefore to the test of the dynamic bullish trendline that passes in these hours a little over the 365-360 dollars, a level to defend in case of a further lengthening downwards in order not to witness a dangerous aggression from speculation with the break of the trendline that has supported the prices since last March, for over 7 months.
Author: By Federico Izzi
– 3 Nov 2020