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  • Business - Market Data
  • Updated: Mar 30, 2021

Crpto Markets Extend Rally As PayPal Launches Crypto Checkout Service

Crpto Markets Extend Rally As PayPal Launches Crypto Checkou

The crypto markets surged on Tuesday on an announcement that payment giants PayPal have now launched a crypto checkout service.

Bitcoin pumped above $59,000 around 11:00 am WAT for the first time since March 18th, bringing the world's largest cryptocurrency closer to its all-time high of $61,556 according to data from Coindesk.

READ ALSO: PayPal Begins Cryptocurrency Checkout Service

Data from Coindesk also showed that Ethereum climbed more than 4 percent to trade above $1,800, prepping the digital asset for a possible rally to its all-time high of $2,036. Litecoin dusted off an earlier selloff with a 5 percent surge, taking it up over 2 percent to a one-month high of almost $200 ($199.67). Bitcoin Cash also charged 2 percent to reach a new one-week high at $536.15.

PayPal announced today that its new crypto checkout service will allow bitcoin, ethereum, litecoin and bitcoin cash to be seamlessly converted into U.S. dollars or other fiat currencies when making purchases, the same as a credit card or a debit card would work inside a PayPal wallet.

Other major cryptocurrencies also climbed, as investors become increasingly confident in the future of digital assets due to progressive institutional adoption.

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