Monero Overtakes Bitcoin in Europe’s Largest Crypto Store
Monero (XMR) has surpassed Bitcoin (BTC) as the most used cryptocurrency at "Europe’s biggest Bitcoin store," ShopinBit, according to their June report.
XMRaccounted for 74.54% of payments, while BTC made up 23.64%. Bitcoin’s Lightning Network and fiat currencies were minimally used.
ShopinBit has challenged this trend to continue for two more months, promising to rebrand as “Europe’s biggest Bitcoin and Monero Store” if it does.
This shift isn’t unique to ShopinBit; CoinCards and darknet markets have also seen a rise in Monero payments due to its superior privacy features.
Historically, Bitcoin’s popularity surged in dark markets like Silk Road. Now, Monero might experience a similar network effect, potentially boosting its long-term price.
Currently trading at $160.90, Monero has increased 52% since Binance’s delisting in February and often trades at a premium on decentralized exchanges.
Investors and users are closely monitoring this trend, anticipating further impacts on Monero’s market value and position.
Author
Alexander Stefanov
Reporter at CoinsPress
Alex is Editor-in-Chief of Coinspress and co-founder of Millennial Media Group, with nearly a decade of experience covering financial markets - crypto first, then everything else.
It started in 2016 with Bitcoin. Like most people at the time, he didn't fully understand it - so he kept digging. Blockchain, tokenomics, the projects, the cycles. That curiosity never stopped, and eventually pulled him into traditional markets too: equities, commodities, macro. Not because he left crypto behind, but because you can't properly understand one without the other.
What drives him is straightforward: he wants to know why something is happening, not just that it's happening. Most market coverage stops at the headline - price up, price down, here's a chart. Alex finds that kind of reporting actively unhelpful. If you walk away from an article without understanding the mechanism behind the move, what did you actually learn?
He holds a degree in Tourism from New Bulgarian University - not the most obvious path into financial markets, but markets have a way of pulling in people who are simply too curious to stay out. He has authored over 200 in-depth analyses and more than 10,000 articles across crypto and traditional finance. He still thinks every day in markets teaches him something new. That's probably why he hasn't stopped.
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