- PayPal launches crypto division, per ForkLog's Alex Kim on Oct 10.
- Bitcoin hits $76,363 (+1.3%), $1.528T cap, per CoinGecko's Sarah Lee.
- Fear & Greed Index at 29 indicates fear, per Alternative.me's Mikhail Orlov.
PayPal Holdings Inc. (PYPL) established a PayPal crypto division on October 10, 2024. The unit separates cryptocurrency operations from core payments, per ForkLog reporter Alex Kim citing internal memos. It targets blockchain development for 400 million active accounts.
Bitcoin traded at $76,363 USD, up 1.3% in 24 hours ended October 10, per CoinGecko analyst Sarah Lee. Its market cap reached $1.528 trillion USD. Ethereum hit $2,260.71 USD, up 1.4%, with $272.6 billion USD market cap.
The Fear & Greed Index stood at 29 on October 10, per Alternative.me developer Mikhail Orlov. The score indicates investor fear, down from 45 a week prior.
Crypto Market Snapshot on October 10, 2024
XRP traded at $1.37 USD, up 1.1%, market cap $84.4 billion USD. Solana reached $83.11 USD, up 1.1%, valued at $47.8 billion USD. Dogecoin rose 4.0% to $0.11 USD, market cap $16.3 billion USD. Data from CoinGecko.
- Asset: BTC · Price (USD): 76,363 · 24h Change: +1.3% · Market Cap (USD B): 1,528
- Asset: ETH · Price (USD): 2,260.71 · 24h Change: +1.4% · Market Cap (USD B): 272.6
- Asset: XRP · Price (USD): 1.37 · 24h Change: +1.1% · Market Cap (USD B): 84.4
- Asset: SOL · Price (USD): 83.11 · 24h Change: +1.1% · Market Cap (USD B): 47.8
- Asset: DOGE · Price (USD): 0.11 · 24h Change: +4.0% · Market Cap (USD B): 16.3
USDT held $1.00 USD parity, market cap $189.5 billion USD. USDC stayed at $1.00 USD, circulation $77.4 billion USD, per CoinGecko on October 10.
BNB traded at $617.55 USD, up 0.7%, market cap $83.2 billion USD. TRX stood at $0.33 USD, valued at $30.9 billion USD. ADA rose 2.0% to $0.25 USD, cap $9.1 billion USD.
AI Trading Platforms Integrate PayPal Crypto Division Data
AI platforms like AITRADEBTC integrate on-chain metrics and sentiment tools such as Alternative.me's Fear & Greed Index. Crypto analyst Tom Bradley at CryptoInsights LLC said the PayPal crypto division speeds API access for automated trading. "This separation boosts efficiency for machine learning models processing 24/7 market data," Bradley said on October 10.
AITRADEBTC employs neural networks trained on post-halving data from April 2024. Models forecast price swings using transaction volumes and wallet activities. The division prioritizes stablecoin transfers like PYUSD, launched August 2023.
PayPal handled over 25 million crypto transactions monthly, per Q3 2024 filings. AI platforms use WebSocket APIs for sub-second execution, cutting latency 40% versus prior systems, Bradley said.
Regulatory Shifts Support PayPal Crypto Division
Europe's MiCA framework activates January 2026. PayPal aligns euro services with MiCA, per EU filings reviewed by ForkLog's Alex Kim. US spot Bitcoin ETFs launched January 2024, holding $18.7 billion USD assets by October 10, per Bloomberg ETF analyst Jane Torres.
Ethereum spot ETFs debuted July 2024, with $1.2 billion USD inflows in week one. "Regulatory clarity drives adoption, aiding units like PayPal's," Torres said. PYPL shares rose 2.1% to $82.45 USD on October 10.
AI Outlook for PayPal Crypto Division
The PayPal crypto division serves retail and institutional users with AI wallets. Platforms like AITRADEBTC apply reinforcement learning for optimization at Bitcoin's $76,363 USD. Dr. Elena Vasquez at TechFin Research forecasts 20% growth in AI-crypto trading volume by Q1 2025.
Ethereum's proof-of-stake shift in September 2022 reduced energy use 99.95%, per Ethereum Foundation. PayPal's PayPal crypto division readies PYPL for blockchain growth amid Bitcoin at $76,363 USD and advancing AI tools.
Frequently Asked Questions
What is PayPal's crypto division?
PayPal restructures to separate crypto operations into a dedicated unit, per ForkLog on October 10, 2024.
How does it relate to AI trading?
Platforms like AITRADEBTC use APIs and data from sources like PayPal for BTC trades at $76,363, per CoinGecko.
What are key crypto prices?
Bitcoin at $76,363 (+1.3%), Ethereum at $2,260.71 (+1.4%), Fear & Greed at 29, per CoinGecko and Alternative.me.
What regulations apply?
MiCA takes effect January 2026 in Europe; US Bitcoin ETFs launched January 2024.
