Over the past 12 months, the overall volume of cryptocurrency transactions in North America has quadrupled (+ 300%).
As reported by Cryptonomist.ch, which in turn cites CoinPayments Quarterly Pulse, in the second quarter of 2020 the total volume of cryptocurrency transactions received by merchants in North America exceeded 60 million dollars, while in the same period of 2019 it was just over 20 million.
60 million dollars in three months is still very low, but a growth of 300% year-on-year suggests that this trend may continue in the future.
On the other hand, the growth trend is very clear, continuous and decidedly sustained, since the first quarter of last year.
A very interesting fact is that the average transaction amount is also significantly increasing, given that at the beginning of last year it was between 100 and 150 dollars, while in 2020 it well exceeded 200 dollars.
It should be noted that, as far as bitcoin is concerned, Europe surpasses North America in volume of transactions, but the most sensational figure is the success of stablecoins in the Asia-Pacific area.
Crypto transactions, stablecoins
In this area, which also includes China and Japan, among others, the volume of stablecoin transactions exceeds that of Europe by three times, and even more than six times that in North America.
Since the most widely used stablecoin is USDT, these data suggest that Tether is used in particular as an alternative to fiat currency, and probably as a substitute for the dollar, in countries where it is not easy to use dollars, or coins for certain. similar verses like the euro.
In these countries, almost half of cryptocurrency payments are made in stablecoins, with still a slight prevalence of bitcoin, which, however, could also over time be overcome.
Instead, with regard specifically to the US market, the most noteworthy figure is the doubling of the average amount of cryptocurrency payments, which went from 100 to 200 dollars in one year.
According to CoinPayments Quarterly Pulse, the reason behind this increase would be a greater trust of sellers and buyers in the use of these new coins.
What do you think about it? Is the adoption of cryptocurrencies destined to increase or do you agree with all the prophets who (for years now) have been saying that cryptocurrencies have their days numbered?
Let me know yours in the comments.
As always, thank you if you made it this far, and see you next time!
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