The rise of cryptocurrency is statistically shown in a SOFTSWISS company study.
SOFTSWISS stays up with current crypto trends because it allows users to gamble with cryptocurrency. The results of the first quarter of 2021 are presented in this report. The SOFTSWISS team presents key data about the crypto wagering industry today and in the near future.
The massive growth of Crypto betting
The expansion of cryptocurrencies is also shown in the Crypto Bets Report. According to statistics, the number of wagers in digital currency was twice as high in the first quarter of this year as it was in the same period in 2021, growing by exactly 116.7%.
A. Starovoitov, Chief Operating Officer of SOFTSWISS, stated:
“The fact that cryptocurrency grows in the field allows us to state that crypto wagering is becoming more independent. The companies that let players use cryptocurrency have more benefits.”
The difference between cryptocurrencies and fiat money results in the betting share
When looking at a variety of currencies, it’s clear that fiat currencies are still the most popular, even though cryptocurrencies are expanding every quarter. In comparison to 2012, crypto’s market share increased by 10% in the first quarter of this year, and by 29% in the same period in 2020. If the current trend continues, the proportion of crypto and fiat currencies will very certainly equalize by 2023.
Bitcoin is losing value.
Bitcoin became the most popular cryptocurrency after being introduced by SOFTSWISS, although it fell in the first quarter of 2022. This is because Ethereum and Litecoin are becoming more popular. Their market share increased by 3.45 percent and 2.95 percent, respectively.
“It became clear that bitcoin will be the most favorite cryptocurrency. In addition to this, the strengthening increase of altcoins shows curiosity in modern and high-tech altcoins. For example, it is possible to see an important investment in new technology such as Ethereum. Clients will prefer a variety and it is a good thing for the development of the business.”
Said: A. Starovoitov
The SOFTSWISS report contains a complete list of the most often used coins as well as a comparative study.
The future of cryptocurrency gambling
According to the analysis, cryptocurrencies will continue to grow. In this industry, the term ‘cryptocurrency diversification’ will be increasingly widespread. The evolution of crypto wagering will coincide with the evolution of the traditional casino.
According to A. Starovoitov, the traditional casino’s modification will attract more operators to the crypto wagering sector. In addition, the industry is expected to grow in the next years.