in 2011 Bitcoin created as a fork and called digital silver Litecoin After last August, it fell by more than 30% to 56 dollars.
However, it recovered during the subsequent increases. LTCrose to over $90.
LTC, which continues to trade at $87 at the time of writing, has surpassed Bitcoin in usage in payments.
According to this Litecoin has overtaken BTC as a payment option on BitPay. LTC payment dominance reached an all-time high of 41%, surpassing Bitcoin in payments, marking a major milestone for itself.
The rise in the use of LTC in payments underscores a growing trend towards digital assets in payment transactions in general, showing that more individuals and merchants are bypassing expensive intermediaries and using digital assets.
Despite Bitcoin’s recent rise to all-time highs, adoption of BTC as a payment protocol has not risen at the same rate. Because BitPay data shows that Litecoin tops the list as the most used cryptocurrency for transaction payments with a dominance rate of 41.76%, while Bitcoin has a dominance rate of 24.36%.
According to BitPay’s chart Ethereum(ETH) While its use as a payment method remains at only 9%, Dogecoin (DOGE) 6.8% rate, Polygon (MATIC) 5.06% rate, Bitcoin Cash (BCH) 5.59% rate and USD Coin It was on the chart with a rate of 3.69%.
In Litecoin, which has recorded a 2% increase in the last 24 hours, experts expect the increase in usage in payments over time to have a positive reflection on the price.
BREAKING: #Litecoin is the #️⃣ 1️⃣ #crypto for payments!! Reaching a new ATH of over 41% of all payments on the world’s leading crypto payment processor @Bitpay!!! $LTC is the market leader in real use.. More people #PayWithLITECOIN than the other 3 combined!! pic.twitter.com/RPnYacJiF0
— Litecoin (@litecoin) March 7, 2024
*This is not investment advice.
Source: Bitcoinsistemi.com