Monero tops Shopinbit transactions

According to Shopinbit, a European online retailer that accepts cryptocurrency for transactions, Monero ($XMR) was the favored payment method in June. Shopinbit reported that XMR accounted for over 74% of all payments during that period.

• European Retailer Shopinbit Sees Monero Payments Skyrocket in June. The European online retailer, offering over a million products, shared on X this week that Monero (XMR) was the dominant payment method in June. The post revealed that 74.54% of all transactions were settled with Monero, while 23.64% were on-chain BTC payments.
• Shopinbit, established in 2018, offers various products including sports equipment, electronics, toys, bikes, outdoor gear, and pet supplies.
• The company also disclosed that 1.73% of payments were processed through the Lightning Network layer two (L2) platform, while fiat payments accounted for 0.08%.

Shopinbit stated that if $XMR continues to lead in payments for the next two months, it will change its bio from “Europe’s biggest Bitcoin Store” to “Europe’s biggest Bitcoin and Monero Store.” This weekend, while there has been a general upswing in crypto markets, $XMR has declined by 2.2% in the past day. However, the privacy-focused cryptocurrency has risen 1.9% against the U.S. dollar over the past week. Monero’s 24-hour intraday trading range has fluctuated between $156 and $160 per coin, with approximately $56 million in trading volume. XMR is the leading privacy coin by market cap, currently valued at $2.88 billion at press time.