CoinsPaid releases positive results data for the period including FTX and related market makers' bankruptcy.
Jan. 17, 2023 - CoinsPaid the crypto payment provider announced that the company had seen growth in the total number of transactions by 45% during the autumn quarter. This included an overall transaction growth despite the BTC crash in November 2022.
The date released indicated that when BTC crashed by 17% in November 2022, CoinsPaid saw a 44% increase during this month in overall transaction amount compared to the same period in 2021.
From September to November 2022, CoinsPaid witnessed a 45% growth in the total transaction amount, increasing by 1.7 million. This represents growth of 18% compared to the summer quarter results.
Customers also showed increasing interest in stablecoins on the CoinsPaid platform during this period. USDT transactions increased by 488% in 2022. This caused the stablecoins' transactions distribution to move from 2% in 2021 to 9%, as they are perceived to offer a safer store of value option.
During the 2022 summer quarter, the number of transactions on CoinsPaid for BTC increased by 103% and by 1% for ETH. In the autumn period, however, the number of transactions increased by 20% for BTC and 180% for ETH, respectively.
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