Bitcoin’s dominance of crypto payments is starting to erode
Last year, Bitcoin’s use at merchants that use BitPay dropped to about 65% of processed payments, down from 92% in 2020. Ether purchases accounted for 15% of the total, stablecoins were 13% and new coins added to BitPay in 2021 — Dogecoin, Shiba Inu and Litecoin — accounted for 3%
Consumers and businesses are increasingly starting to use digital tokens other than Bitcoin for purchases, according to BitPay Inc., one of the biggest crypto payments processors in the world.
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