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Coinbase begins PayPal withdrawals for EU and European Free Trade Association customers

Akash Anand

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Source: Pixabay

The cryptocurrency market has been in the midst of several updates and developments even though the charts show a mix of both bearish and bullish signals. Popular cryptocurrencies like Bitcoin [BTC], XRP and Ethereum [ETH] were also affected by this downtrend.

Coinbase, the largest cryptocurrency exchange on the planet in terms of users, is back in the news again after the company announced that the European Union and European Free Trade Association customers can now withdraw to their PayPal accounts. The company in an official press release stated:

“Last year we announced support for PayPal in the U.S., and today we’re expanding that support for PayPal withdrawals to all E.U. customers and customers in European Free Trade Association countries (Iceland, Liechtenstein, Norway, and Switzerland). We strive to make Coinbase the safest and easiest place to use cryptocurrency — offering convenient withdrawal options like PayPal is another big step towards that goal.”

The organization has stated that before PayPal, SEPA and UK Faster Payments were the only options for European customers to withdraw funds. The exchange’s new venture comes in the wake of a report suggesting that Coinbase’s trading volume had fallen consistently since 2018.

In January 2018, the exchange held a BTC/USD trading volume of $8.2 billion which then fell to $2 billion in December 2018. January 2019 saw the worst performance in terms of trade following to a low of $1 billion.

On the developmental front, Coinbase has also taken a massive step to support their institutional clients and high volume across Asia. Just recently, the Brian Armstrong led company had revealed that it will open its doors to professional trading and custody platforms for high volume customers and institutional clients in Asia.

Coinbase had said:

“We see a bright future ahead for crypto in Asia. Building on our announcement last June that Nao Kitazawa would lead our efforts in Japan, we have also recently appointed Kayvon Pirestani to head institutional sales in Asia, operating from our Tokyo office.”





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Altcoins

Binance coin pumps by over 6% in an hour; breaks its all-time high

Namrata Shukla

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Source: Pixabay

On June 20, Binance coin [BNB], a coin ranked seventh on CoinMarketCap, surged by a massive 6.38% over the past hour. The coin also broke its all-time high and was trading at $36.47, at press time.

Source: Trading view

Source: Trading view

At press time, BNB was being traded at $36.47 with a market cap of $5.097 billion. The 24-hour trading volume of the coin was reported to be $571.64 million, as it spiked by 2.35% over the day. Over the past seven days, the coin noted a rise of 2.03% in its price and continued to rise by 6.38% within the hour.

This hike follows Singapore-based cryptocurrency exchange, KuCoin, listing Binance coin [BNB] and Binance announcing the launch of Elrond project on Binance launchpad. Binance funded the sharding-based public blockchain network in a private funding round, as the company closed the round with $1.9 million. It will be the next project supported by Binance launchpad and the token sale will be carried out in a lottery fashion. The token sale is scheduled to begin from June 22, 00:00 AM [UTC].

The coin was highly traded on Binance exchange with BNB/USDT pair and BNB/BTC pair. BNB/USDT took the first place as it noted a 24-hour trading volume of $137 million, followed by BNB/BTC which reported a volume of $126 million. The third position was taken by LBank exchange, which registered a trading volume of $120 million with BNB/USDT pair.





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