Our seventh month of payment statistics! This month brings some dramatic shifts in the cryptocurrency payment landscape, with Monero achieving a historic milestone and several notable additions to our supported currencies. For merchants considering which cryptocurrencies to integrate, these evolving trends continue to provide valuable insights. As always, feel free to reach out with any questions!
Transaction Volume Distribution
Here's how the overall deposited volume for May compares with April:
- Monero (XMR): 47.36% (32.8% last month)
- Nano (XNO): 18.45% (42.2% last month)
- Bitcoin (BTC): 11.52% (15.4% last month)
- Ethereum (ETH): 6.26% (1.3% last month)
- Litecoin (LTC): 6.07% (4.8% last month)
- VERSE: 4.02% (new addition)
- Bitcoin Cash (BCH): 3.01% (1.4% last month)
- Solana (SOL): 2.02% (0.9% last month)
- DASH (BCH): 0.77% (0.6% last month)
- Banano (BAN): 0.29% (0.2% last month)
Or in chart format, for easy sharing:
Key Observations
- Monero (XMR) achieved a historic milestone, becoming the #1 cryptocurrency by payment volume for the first time at 47.36% (up from 32.8%). This represents the largest single-month growth we've seen and demonstrates XMR's continued momentum in the payment space.
- Nano (XNO) experienced a significant relatively decline from 42.2% to 18.45%, losing its top position for the first time since we began tracking. Despite this drop, XNO remains a major payment currency with strong transaction volume.
- Bitcoin (BTC) saw a modest decrease to 11.52% (down from 15.4%), settling into third place behind the privacy coin surge.
- Ethereum (ETH) grew strongly, probably partly due to us being added to the BitcoinCom wallet (see VERSE).
- Litecoin (LTC) showed solid growth, climbing to 6.07% (up from 4.8%) and maintaining its position as a reliable payment option.
- VERSE joins our tracked currencies at 4.02% following our integration with the Bitcoin.com wallet, where VERSE sees significant usage.
- Ethereum (ETH) more than doubled its share to 3.01% (up from 1.3%), potentially benefiting from network improvements or renewed interest.
- Solana (SOL) continued its recovery, more than doubling to 2.02% (from 0.9%).
- Bitcoin Cash (BCH) doubled relatively to 3% (up from 1.4%), which likely has to do with our launch of bcashgpt!
- Banano (BAN) grew modestly to 0.29% (from 0.2%), maintaining its niche presence.
- Dogecoin (DOGE) has been removed from our tracking due to minimal usage.
This month marks a significant shift in our relative payment volume, with Monero's continued growth meaning it's overtaken Nano. The addition of VERSE through our Bitcoin.com wallet integration is also looking promising, with hopefully Bitcoin and Bitcoin Cash (which are not live yet in our Bitcoin.com wallet integration) profiting from this next month as well!
We continue to monitor these trends closely. We'll be back next month!
See you next month!
