Monero Leads Payment Methods at Shopinbit in June

The most widely used payment method in June, according to European online store Shopinbit, was Monero (XMR). Over 74% of Shopinbit’s transactions over this time were conducted with Monero, the company revealed in a recent X post.

74.54% of all transactions on Shopinbit, which has over a million products listed, were in the category of electronics and sports equipment. On-chain Bitcoin (BTC) was used for 23.64% of payments, in contrast. In addition to toys, bikes, outdoor gear, and pet supplies, the store was founded in 2018 and offers a wide range of goods.

Additionally, Shopinbit reported that 1.73% of payments were processed through the Lightning Network, a layer two (L2) solution for faster Bitcoin transactions. Traditional fiat payments were a mere 0.08% of the total. The company mentioned that if Monero remains the top payment choice for the next two months, it plans to update its bio from “Europe’s biggest Bitcoin Store” to “Europe’s biggest Bitcoin and Monero Store.”

Despite a recent rise in the crypto markets, Monero experienced a slight decline of 2.2% over the past day. However, it saw a 1.9% increase against the U.S. dollar over the past week. Monero’s 24-hour trading range varied between $156 and $160 per coin, with around $56 million in trading volume. As the leading privacy coin by market cap, Monero is currently valued at $2.88 billion.