The data provided by the analytical tool Nomics showed that the trading volume of BTC, BCH, LTC, ETH of the itBit crypto exchange during May amounted to more than $2.1 bln. PayPal also recorded a new daily trading volume of $300 mln during the last week of last month.
ItBit is an American company that uses the PayPal online payment system and entered the cryptocurrency market in October 2020. Crypto exchange ItBit is responsible for providing liquidity to PayPal.
On May 19 last year, PayPal's daily trading volume reached $303 mln, surpassing the previous high of $240 mln. Before PayPal entered the cryptocurrency market, its maximum volumes did not even reach $60 mln.