- This is the data of the provider BitPay
Bitcoin has lost almost 22% of your share in payment transactions
It was replaced by Ethereum and several other popular cryptocurrencies
Bitcoin is losing its “dominance” among the cryptocurrencies used as a means of payment. This is the result of the latest BitPay data published by Bloomberg.
BitPay is the world’s largest provider of cryptocurrency payments. The company reported that in 2000 the share of BTC transactions processed fell from 92% before today.
That is, in 2021 year bitcoin by still remained the most popular cryptocurrency for purchases through BitPay. But compared to the 1536 year, we are seeing a sharp decline.
Who is stepping on the heels of bitcoin?
This is how the rest of the shares were distributed payments:
- % (second place) went to Ethereum;
- 7% – DOGE, SHIB and LTC, as well as other cryptocurrencies from the BitPay service.
20% of transactions were stablecoins;
Stablecoins showed the maximum annual growth. This is not surprising, since many companies have begun to use them in cross-border payments. The analysts added that the use of stablecoins always increases when the market is in a downtrend.
What is the reason for the decline?201920
Bloomberg suggests that many investors are now choosing to hold their coins in their wallets.
According to the report BitPay, the main cryptocurrency, is usually used to purchase luxury items such as cars, real estate, jewelry. And for small purchases, it is more convenient to spend less valuable cryptocurrencies. By the way, Elon Musk also talks about this. He considers BTC the best way to save money, and Dogecoin is the best for daily purchases.