Cryptocurrency dethrones BTC payments in Europe’s biggest Bitcoin store

In a surprising event, Monero (XMR) dethroned Bitcoin (BTC) as the most used cryptocurrency in Europe’s biggest Bitcoin store. According to ShopinBit‘s monthly report, three in every four users paid with XMR in June.

Notably, the e-commerce shared this data in an X post on July 12, highlighting 74.54% of all payments made with Monero and 23.64% with Bitcoin. 1.73% of the payments used Bitcoin’s Lightning Network, while 0.08% used fiat currencies.

In this context, ShopinBit launched a challenge and will focus more on XMR if this trend continues.

“If Monero transactions surpass Bitcoin transactions in volume for the next 2 months, we’ll update our bio from “Europe’s biggest Bitcoin Store” to “Europe’s biggest Bitcoin and Monero Store.”

ShopinBit

Interestingly, the leading privacy-by-default cryptocurrency often trades with a premium in decentralized exchanges, creating arbitrage opportunities. Investors, traders, and users now follow further developments and economic data, looking to where this payment trend will lead Monero next.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

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