Chainalysis: Bitcoin merchant payments down almost 80% this year

According to a Chainalysis study cited by Reuters, the value of bitcoins handled by bitcoin payment processors has dropped nearly 80% from $427M in December 2017 to $96M in September 2018. Chainalysis surveyed 17 payment processors, including BitPay.

While merchant payments may be down, Bitcoin’s scalability solutions are showing positive signs. The Lightning Network, a second layer solution designed to address Bitcoin’s scalability problem, reached a new record this week. The network has onboarded over 4,100 nodes with a capacity of nearly $1.9M, according to data from 1ML. (Source: Reuters)

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Chainalysis: Bitcoin merchant payments down almost 80% this year written by Steven Zheng @ https://www.theblockcrypto.com/tiny/chainalysis-bitcoin-payments-down-almost-80-this-year/ November 21, 2018 Steven Zheng

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