OnePay Listings May Not Influence Crypto Prices, Walmart-Backed App Finds

Walmart's OnePay payments app has been quietly adding cryptocurrencies to its lineup. The app, which began offering Bitcoin and Ethereum in January, added Solana (SOL) and Arbitrum (ARB) in late March. Both tokens saw significant price surges in September, with Arbitrum increasing by 137% and Solana by 66% over the preceding 60 days.

However, the timing of the OnePay listing and the price surges suggests that the listing alone may not have been the cause of the rallies. Arbitrum's price actually fell to a record low just three months after the listing, dropping 24% to $0.0705. The token's price recovered to around $0.20 by the end of September, but still trades about 91% below its all-time high of $2.39.

Solana's price trajectory followed a similar path, with a 48% increase over 90 days and a 66% increase over the last 60 days. However, the token declined in July before buyers returned, and it remains about 60% below its peak of $293 recorded on January 19, 2025.

According to general manager Ron Rojany, OnePay selects assets based on factors like demand, liquidity, regulatory clarity, and long-term utility. However, the listing on OnePay mainly improves accessibility, making it easier for users to buy a token, rather than directly increasing demand.