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Litecoin has shown outstanding performance in the field of cryptocurrency payments, surpassing well-known digital currencies such as Dogecoin, Bitcoin, and Ethereum to become the preferred cryptocurrency for Bitpay, a leading Bitcoin payment service provider.
Litecoin at the forefront of crypto payments
In a recent announcement by Litecoin's team on X (formerly Twitter), it was revealed that LTC has become the most popular cryptocurrency on Bitpay. The team shared a chart of Bitpay's cryptocurrency payment counts, disclosing that Litecoin recently reached a milestone, accounting for approximately 41.76% of the platform's total transaction count.
Bitpay's official website also acknowledges this significant achievement, confirming that "Litecoin is the most commonly used cryptocurrency" on its payment platform. While the prices of popular cryptocurrencies like Bitcoin and Dogecoin have surged, Litecoin has achieved this milestone with remarkable dominance.
Bitpay's data shows that Bitcoin's transaction volume hovers around 24.36%, a significant drop of 17% compared to Litecoin. Meanwhile, Ethereum lags behind, with a payment rate of only 9.05%, barely reaching double digits.
Even well-known alternative tokens like Dogecoin attempting to gain prominence are outpaced by LTC. Dogecoin ranks fourth in Bitcoin transaction volume, accounting for only 6.8% of the total transaction volume.
In addition to this recent achievement, the Litecoin Foundation previously revealed in January 2024 that Litecoin had set a "historical high" of 38.25% in all payments processed through Bitpay, once again surpassing Bitcoin and Dogecoin. This development underscores the prominent position and robust fundamentals of cryptocurrencies, exceeding expectations and setting new standards for digital payments.
With the latest surge in transaction volume, Litecoin's share in Bitpay's total transaction volume exceeds 40%. Litecoin continues to make significant progress, seizing opportunities as adoption rates rise and user confidence increases.
Strong fundamentals of LTC
As Litecoin takes a dominant position in cryptocurrency payments, it is noteworthy that the fundamentals of the cryptocurrency are continuously strengthening. As stated by a member of the cryptocurrency community and a Litecoin supporter, LTC is witnessing its most optimistic year, rapidly capitalizing on positive trends in the cryptocurrency market.
This cryptocurrency member also indicates a shift in market sentiment for the coin, highlighting a growing interest from investors and traders in the value and future prospects of cryptocurrencies. Currently, Litecoin's price is steadily approaching the milestone of $100, effectively leveraging the development of its ecosystem to enhance its value and adoption.
According to CoinMarketCap's data at the time of writing, the trading price of Litecoin is $88.00, indicating a substantial increase of 25.02% over the past month. |
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Post time 17-3-2024 20:52:31