Due to the upcoming halving, Litecoin has not been on the agenda lately. According to the latest data, LTC has become the most used cryptocurrency for payments, surpassing Bitcoin.
LTC’s share of global crypto payments rose to 34.9% in June, according to BitPay data. In this process, the share of Bitcoin fell from 36.39% to 34.06%, losing its throne.
Litecoin founder Charlie Lee proudly shared this important development:
Litecoin founder Charlie Lee:
“I wasn’t sure we’d see this day, but it happened! Litecoin payments on BitPay have outstripped Bitcoin.”
Latest on On-Chain Data as Halving Approaches
LTC is on the radar of crypto investors with the effect of the upcoming halving event. With a market cap of over $2 billion, Litecoin was one of the top-earning altcoins last month. Earlier in the week, the cryptocurrency hit a 14-month high, hitting $113, according to CoinMarketCap. But later in the week, the profit sale came.
On-chain data also confirms the interest in LTC. According to Glassnode, the total number of transactions of LTC increased significantly in June.
Uzmalar stated that due to the high transaction fees in Bitcoin, crypto lovers are looking for cheaper alternatives. Litecoin has attracted many investors for this reason.
LTC Price
LTC coin, which was traded around $75 in mid-June, reached $115 at the beginning of the week. But with profit sales coming in during the week, the cryptocurrency gave back some of its gains.
LTC coin currently finds buyers at $97. Litecoin halving will take place on August 4, 04:56 Türkiye time.
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