Block Trading Volume Plummets 45.3% to 212th Position Despite Bitcoin Payment Announcement

On May 28, 2025, Block (XYZ) experienced a significant drop in trading volume, with a 45.3% decrease from the previous day, totaling $407 million. This decline placed Block at the 212th position in terms of trading volume for the day. The stock price of Block also decreased by 0.55%.

Block has announced that it will introduce Bitcoin payments on its Square platform, making Bitcoin more accessible and usable for merchants. This new feature will be showcased at the Bitcoin 2025 conference in Las Vegas from May 27-29, allowing attendees to experience it firsthand. The rollout is expected to begin in the second half of 2025 and reach all eligible Square sellers by 2026, pending regulatory approvals. By leveraging the Lightning Network, the Square Point of Sale app will enable merchants to accept Bitcoin payments, promising faster and cheaper transactions. This initiative is seen as a natural next step in Block's efforts to integrate cryptocurrency into its payment systems, and it is expected to enhance the usability and accessibility of Bitcoin for merchants and consumers alike.