Latest SOFTSWISS Report Confirms Growing Adoption of Cryptocurrencies

SOFTSWISS, the leading company in crypto gambling, has recently released a сorporate report confirming the growing adoption of cryptocurrencies.

The information from the detailed report shows the comparative data for the 1st quarter of 2021 and the same period of the current year based on the results of the SOFTSWISS Game Aggregator and the SOFTSWISS Casino Platform.

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Crypto Bets: x2 Growth

​According to the statistics, the sum of bets in digital coins in Q1 2022 more than doubled compared to the same period last year. More precisely, it has grown by 116,7% from 2.9 billion to 6.3 billion. 

Crypto & Fiat Currencies Bet Share: Blurring the Difference

Observing the ratio of different currencies, the numbers show that fiat currencies still hold the leading position, having 64% of the total volume. However, the share of cryptocurrencies is steadily growing every quarter. Compared with the same period last year, the share of crypto in Q1 2022 increased by almost 10 percentage points: from 26.3% to 35.9%. At the same time, in comparison to the first quarter of 2020, the share of cryptocurrencies has grown by 29 percentage points. If such dynamics continue, the share of fiat and cryptocurrencies may become equal over the course of the next year.

Top Cryptocurrencies: Bitcoin is Decreasing its Share

Even though Bitcoin has been the preferable cryptocurrency since it was introduced by SOFTSWISS, it showed a decrease in its share in Q1 2022 by 10 percentage points. This is related to the growing interest in Ethereum and Litecoin, the top altcoins at the moment. Their share has increased by 3.45% and 2.95% respectively. The precise share of the top 3 cryptocurrencies in Q1 2022 is the following:

• Bitcoin (BTC) 72.80%

• Ethereum (ETC) 13.45%

• Litecoin (LTH) 6.45%

Andrey Starovoitov, COO at SOFTSWISS, commented on the popularity of the cryptocurrencies today: "Bitcoin will still be the leading cryptocurrency for deposits in the near future. However, the strong growth of other altcoins demonstrates the interest in more advanced coins in terms of technology such as Ethereum. More players will prefer to diversify their funds with other cryptocurrencies. This is a positive trend related to the development of the market."