Despite this outlook, the company saw overall payment volumes increase in 2021 by 57% year over year.
Furthermore, in the Altcoin universe, Ethereum, stablecoins and “memecoins” represented the main buying tokens. In terms of total payments, Ether accounted for 15% of the share, while stablecoins contributed 13% thanks to cross-border payments.
consumption of stable coins It is due to its constant value, while those that are represented by memes rose in price in the past year. Especially in the luxury goods segment, as buyers used cryptocurrencies to purchase items such as jewelry and cars, along with gold, BitPay noted.
While Stephen Pair, CEO of this company, told Bloomberg that his business is affected by the price.
“We haven’t seen such a big drop in volume with this recent pullback. It’s probably just a reflection that more and more businesses need to use it as a payment tool.”said Pair, explaining that when prices go down, people tend to spend less.
Source From: Ambito
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