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ETH · 5d

While Bitcoin consolidates above $58K, Ethereum sets new all-time high above $2,100

Data by CryptoCompare shows that the Bitcoin price reached $61,749, setting a new all-time high, on March 13.

Bitcoin (BTC) started the previous week at $55,609 and ended it at $58,145. Currently, BTC is trading around $58,750.

With Bitcoin remaining in consolidation mode throughout the week, altcoins had room to breathe, with some traders and investors taking some profits from their BTC holdings and putting this money into altcoins in an attempt to seek bigger gains. 

One beneficiary was Ether (ETH), the second most valuable cryptoasset by market cap, which set a new all-time high of $2,144 on April 2. ETH started the week at $1,684 and finished at $2,071. At the time of writing, it is trading around $2,130.

On Tuesday (March 30), PayPal Holdings Inc (NASDAQ: PYPL) announced a new “Checkout with Crypto” feature that allows customers in the US to pay with crypto for goods and services at millions of online businesses.

Customers are allowed to choose which of their crypto holdings (held by PayPal) gets converted to fiat currency at checkout.

Dan Schulman, president and CEO at PayPal, had this to say: “As the use of digital payments and digital currencies accelerates, the introduction of Checkout with Crypto continues our focus on driving mainstream adoption of cryptocurrencies, while continuing to offer PayPal customers choice and flexibility in the ways they can pay using the PayPal wallet.

“Enabling cryptocurrencies to make purchases at businesses around the world is the next chapter in driving the ubiquity and mass acceptance of digital currencies.”

The benefit for merchants is that they do not have to implement any special integrations or pay any extra fees. Transactions are settled in US dollars and then converted (if necessary) to the relevant local fiat currency for the business.

Destined to be disrupted

Crypto exchange OKEx CEO Jay Hao commented on Twitter about PayPal’s upcoming a...

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