Home » SOFTSWISS Highlights Resurgence of Fiat Currencies in Latest Crypto Report

SOFTSWISS Highlights Resurgence of Fiat Currencies in Latest Crypto Report

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With less than two months left in 2022, it is no exaggeration to say that cryptocurrency has become a hot topic in many industries, including the online gaming space.

Gzira, Malta, November 17, 2022 /PRNewswire/ — As the first iGaming software company to address cryptocurrencies, SOFTSWISS regularly publishes company reports containing the latest insights into crypto coin performance across key products to inform the wider community about market potential. commonly shared.

Before getting into the details of cryptocurrencies, in the first three quarters of 2022, total bet on the supplier’s platform 33.1% It shows a significant increase in interest in the product compared to this period in 2021.

Further supporting the strong performance of SOFTSWISS’ business model and its growing customer base, the company’s GGR in the first three quarters also increased compared to the same period in 2021.

This growth is primarily due to an increase in the number of partners using the Casino Platform and Game Aggregator solutions, with clients seeing solid performance from both products.The difference of GGRMore Amazing year to date 36.6% SOFTSWISS’ ever-expanding customer base ensures bettors have access to the supplier’s range of products in both fiat and cryptocurrencies.

Decline of virtual currency

The value of all fiat bets was up 8.4% quarter-on-quarter and 24.2% year-to-date, while the number of individual crypto bets overall declined.

Compared to Q2, the value is 5.9%However, when compared to the three quarters of 2021, we see a significant decline in betting on cryptocurrencies. 23.5%.

The second quarter highlighted the cyclical nature of cryptocurrencies. While this is far from the crypto winter that the iGaming industry was raving about, it does signal that a downturn in crypto betting is on the horizon. However, seasonality is likely to play a role in Q4, with the usual uptick in betting towards the start of the holiday season.

Comments on SOFTSWISSlatest report, Vitali MatskevichCOO of SOFTSWISS said: “Despite the numbers, the interest in cryptocurrencies among players and operators is only growing. As a relatively new phenomenon in the iGaming industry, cryptocurrencies are subject to a volatile environment depending on various economic and social factors. However, cryptocurrency rates in the fourth quarter of this year will be contingent on current gaming activity.”

Fiat market share on the rise

A significant number of bets (over 70%) are made in fiat currency, with cryptocurrency bets accounting for a third of total bets. It’s also important to highlight that when comparing his three quarters of 2021, the percentage of crypto betting was noticeably higher at almost 44%. This is reflected in the charts compared to the same period in 2022. Explained by the positive volatility of major and minor cryptocurrencies in the second wave of 2021.

Data from players using cryptocurrencies shows that Bitcoin, Ethereum, and Litecoin continue to be the most popular options. In general, the player remained loyal to his cryptocurrency of choice, with over 72% of his bets made on cryptocurrencies in Q3, making Bitcoin almost ubiquitous. is dominated by However, there is a firm belief within SOFTSWISS that betting on USDT will increase.

Here are the rankings of the most frequently betted cryptocurrencies in Q3.

  • Bitcoin (BTC) – 72,8%;
  • Ethereum (ETC) – 14,5%
  • Litecoin (LTH) – 5,2%

One thing is certain, even as crypto betting continues to decline in the third quarter of 2022, players are still demanding the use of alternative currencies. More and more merchants understand the importance of offering payment solutions, and this is expected to continue.

A full list of the most popular cryptocurrencies is available in the company’s report.

Vitali Matskevich comment: “While 2022 global events and crises have quarterly impact indicators, general market dynamics continue to favor cryptocurrencies and their use in online gambling. It is relatively stable and adapted to the global financial markets.A positive outlook for the future of crypto.”

About SoftSwiss

soft swiss is an international brand that provides widely recognized and certified software solutions for managing iGaming operations. SOFTSWISS holds multiple gaming licenses and offers a one-stop-shop his iGaming solution. In 2013, SOFTSWISS introduced the world’s first Bitcoin-optimized online casino solution.

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source soft swiss

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