PayPal Launches Crypto Checkout Service Amid Growing Market Momentum

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The cryptocurrency market showed strong momentum on March 30, with major digital assets posting gains across the board. Bitcoin (BTC) climbed to $59,103.99, up 2.35% for the day, while Ethereum (ETH) reached $1,840.83—an increase of 2.85%. Litecoin (LTC) followed with a 1.45% rise, trading at $196.46. OKB, the native token of the OKX exchange, outperformed with an impressive 8.01% surge to $15.90.

Decentralized Finance (DeFi) tokens also saw bullish movement on the OKX platform, led by DMD with a 24.52% gain, MLN up 17.06%, and API3 rising 15.34%. These figures reflect growing investor confidence in next-generation blockchain applications and Layer2 innovations.

Market Sentiment and On-Chain Insights

According to OKX’s futures data, total BTC contract holdings stood at $2.752 billion, with a slightly bullish sentiment reflected in the 1.02 long-to-short ratio among traders. Notably, active buy orders exceeded sell-side pressure by approximately $100 million, signaling short-term bullish momentum.

Among professional traders—often considered market "elites"—51% held long positions versus 44% in short positions. The average long position size was 22.18%, compared to 16.15% for shorts, further reinforcing institutional-grade optimism toward Bitcoin’s price trajectory.

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OKX Expands Layer2 Support and Enhances Trading Experience

In a move to support emerging blockchain scalability solutions, OKX has launched a dedicated Layer2 trading zone featuring MATIC (Polygon), CELR (Celer Network), and SKL (SKALE). This initiative aligns with increasing demand for efficient, low-cost transactions on Ethereum-compatible networks.

To celebrate the launch, OKX hosted a "Layer2 Carnival" offering users multiple ways to earn rewards:

Additionally, OKX improved trading precision by adjusting the minimum price increments for select perpetual and delivery contracts, as well as spot and margin trading pairs. These updates, implemented on April 6, aim to enhance order book depth and overall market liquidity—critical factors for both retail and institutional participants.

Industry Developments: PayPal Integrates Crypto at Checkout

One of the most significant developments in recent crypto history unfolded as PayPal officially rolled out its cryptocurrency checkout service. Starting March 30, U.S.-based PayPal users can now spend their digital assets—including Bitcoin, Ethereum, Bitcoin Cash, and Litecoin—directly at millions of online merchants.

When users choose to pay with crypto at checkout, PayPal automatically converts the selected cryptocurrency into fiat currency in real time. The process mirrors traditional card payments in speed and simplicity, marking a pivotal step toward mainstream adoption.

Importantly:

“This is the first time consumers can seamlessly use cryptocurrency just like a credit or debit card within their PayPal wallet,” said Dan Schulman, President and CEO of PayPal.

This integration removes a major friction point—spending crypto easily—and could accelerate user onboarding into the digital asset ecosystem.

👉 See how you can start using crypto like real money today

FAQ: Understanding PayPal’s Crypto Checkout

Q: Which cryptocurrencies does PayPal support for checkout?
A: PayPal currently supports Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), and Litecoin (LTC).

Q: Do I need a separate wallet to use crypto on PayPal?
A: No. Your crypto holdings are managed directly within your PayPal account—no external wallets required.

Q: Is there a fee to use crypto at checkout?
A: PayPal does not charge additional fees for using crypto to make purchases.

Q: Can I split payments between crypto and fiat?
A: Yes. If your crypto balance isn’t enough to cover a purchase, PayPal will automatically draw the remainder from your linked bank account or card.

Q: Is this feature available outside the U.S.?
A: Initially launched for U.S. users only; international rollout plans have not yet been announced.

Broader Adoption: Automotive and Enterprise Moves

Beyond fintech giants like PayPal, traditional industries are beginning to explore blockchain integration. General Motors (GM) revealed during its Q4 2020 earnings call that it is actively considering accepting Bitcoin as payment for vehicles and services. CEO Mary Barra stated the company is evaluating various digital currency options as part of its long-term financial strategy.

Meanwhile, Chinese tech firm Ninth City (NetDragon Websoft subsidiary) disclosed plans to invest over $100 million in Bitcoin and Filecoin mining hardware in its 2020 SEC filing. Key commitments include:

Once fully deployed by late 2022, Ninth City expects its mining fleet to achieve a combined hashrate of 3,558 PH/s, potentially generating around 5,200 BTC in cumulative mining revenue over 18 months—assuming stable network conditions.

Institutional Trends: M&A and Investment Surge

A recent report by PwC (PricewaterhouseCoopers) highlights accelerating institutional interest in the crypto space. In 2020:

Henri Arslanian, PwC’s Global Crypto Leader, attributed this growth to increased participation from hedge funds, family offices, and large corporations investing in blockchain startups or acquiring existing crypto businesses.

These trends suggest that digital assets are transitioning from speculative instruments to core components of modern financial infrastructure.

👉 Stay ahead of institutional moves shaping tomorrow’s crypto market

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Disclaimer: This article is for informational purposes only and should not be taken as financial advice. Always conduct your own research before making investment decisions.