Organized by Bitpay “Which cryptocurrency about to explode?” winner of the contest altcoin Shiba Inu (SHIB) was declared.
The event called “Bitcoin Brackets” was held to determine “which altcoin is about to explode”.
Shiba Inu Left 16 Altcoins Including Dogecoin
In the competition consisting of four rounds in total, Binance Coin, Cardano, Solana, Polkadot, Dogecoin and 16 altcoins, including other altcoins, competed to be the first.
The cryptocurrency community chose one of the pairs by filling out a special form in pairs matches similar to football matches. Shiba Inu in the first three rounds, terra, He managed to eliminate Solana and Cardano.
In the grand final, SHIB managed to emerge victorious from their fight against Polygon.
According to analysts, the outcome of this tournament was also effective in showing the strength of the SHIB community. The community played an important role in showing the altcoin’s performances in 2021 and 2022.
In addition, BitPay announced that some prizes will be given to users who determine the winner of the tournament with the said voting processes.
As it is known, BitPay announced in December that it started to support Shiba Inu as a payment method.
In addition, online electronics retailer Newegg and movie theater chain AMC are among the big stores that have announced that they accept the SHIB token.
According to data provided by BitPay, the company experienced a huge increase in payments made with cryptocurrencies last May, reaching 75,583 transactions.
However, altcoins like Ethereum do not seem ready to be used as a payment method due to the high transaction fees.
*Not investment advice.