Vladislav Sopov
Data shows that one in three transactions on BitPay, the largest cryptocurrency payment processor, uses digital silver
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- Litecoin (LTC) could surpass Bitcoin (BTC) in number of BitPay transactions: data
- Litecoin (LTC) Halving Completed; Is a sale coming up?
As interest in the Litecoin (LTC) blockchain surged ahead of the much-anticipated third halving, BitPay is seeing an unprecedented spike in Litecoin (LTC) transfers on the platform.
Litecoin (LTC) could surpass Bitcoin (BTC) in number of BitPay transactions: data
Litecoin (LTC), the “digital silver” and the 11th largest cryptocurrency by market cap, accounts for 34.05% of net transaction count on BitPay, a cryptocurrency payment processor. This number reflects the increase in Litecoin (LTC) usage in retail products in July 2023.
Bitcoin (BTC), the largest cryptocurrency and most popular asset on BitPay, accounts for 36.47% of transactions. This means that Litecoin (LTC) activity only needs to increase by 7% to become a dominant BitPay cryptocurrency.
Thus, the two most popular cryptos account for 70.5% of BitPay activity. Meanwhile, Ethereum (ETH) and Dogecoin (DOGE) together account for 15.5% of transactions authorized by BitPay users.
In turn, Bitcoin Cash (BCH), USD Coin (USDC), and Polygon (MATIC) together account for over 12% of BitPay activity.
Litecoin (LTC) is particularly popular in the retail payment segment: it works faster than Bitcoin (BTC), but also has an unprecedented level of security and resistance to attacks.
Litecoin (LTC) Halving Completed; Is a sale coming up?
In the comments below the announcement posted on a core Litecoin (LTC) Twitter account, users are sure that the “digital silver” activity will continue to grow.
As previously reported by U.Today, Litecoin (LTC) witnessed its third halving event. As a result, miners’ reward dropped by 50%, reaching 6.25 LTC per block.
In the eight months leading up to the halving, Litecoin (LTC) price more than doubled, hitting a 15-month high of over $100 per coin in July 2023.
However, at press time, Litecoin (LTC) lost some of its gains. Now, LTC is changing hands at $86.32, down almost 4% over the past 24 hours.
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