🚀 JUST IN :Litecoin breaks 12-month BitPay record

🔥 Big News! Litecoin (LTC) has just shattered a 12-month record on BitPay, becoming the most used cryptocurrency for payments

Litecoin (LTC) has smashed a 12-month record by becoming the most used cryptocurrency on BitPay in the past six months.

According to BitPay data, Litecoin accounted for 34.28% of all cryptocurrency transactions on the platform in the past six months. This marks a significant milestone for LTC, outperforming Bitcoin and other major cryptos in real-world usage.

According to the report, Litecoin’s popularity on the platform can be attributed to its lower fees and faster transaction times compared to Bitcoin, making it the preferred choice for everyday payments.

The report also notes that there has been a growing trend of merchants accepting Litecoin, further boosting its usage among consumers.

As of August 2023, BitPay supports eight cryptocurrencies, including Bitcoin, Bitcoin Cash, Ethereum, Gemini Dollar, Paxos Standard Token, and Wrapped Bitcoin.

Earlier this week, Blockware Solutions analyst said that he expects to see an “institutional bid” for Litecoin in the coming months as several factors continue to support the token’s price.

“[There’s] new futures trading on FTX and TRex mining LTC as well. LTC has also seen strong price action with the IVR (implied volatility) remaining elevated,” he stated.

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