Privacy Coin Monero Tops Payments at European Online Retailer Shopinbit in June

Privacy-focused cryptocurrency Monero (XMR) emerged as the most popular payment method at European online retailer Shopinbit in June. With over 74% of all transactions settled using Monero, the cryptocurrency surpassed Bitcoin (BTC) and other payment options. Shopinbit, which offers a wide range of products, including sports equipment, electronics, toys, bikes, outdoor gear, and pet supplies, revealed that Bitcoin accounted for 23.64% of payments. Additionally, 1.73% of transactions were processed via the Lightning Network, while fiat payments made up only 0.08%. Shopinbit stated that if Monero continues to lead in payments for the next two months, it will change its bio to “Europe’s biggest Bitcoin and Monero Store.” Monero, with a market cap of $2.88 billion, remains the top privacy coin in the market. Despite a slight decline in the past day, Monero has seen a 1.9% increase against the US dollar over the past week, with a trading volume of approximately $56 million.