Litecoin (LTC) has solidified its position as a frontrunner in the cryptocurrency payment landscape, surpassing major digital currencies like Bitcoin (BTC) and Ethereum (ETH).
Recent data from BitPay indicates that Litecoin now accounts for a remarkable 37% of all cryptocurrency transactions, making it the leading choice for payments. This surge in usage can be attributed to its capability for facilitating quick payments at significantly lower costs, appealing to both individual users and businesses seeking more affordable online transaction options compared to other cryptocurrencies.
In contrast, Bitcoin has experienced a downturn in its transaction share, currently standing at only 25.8% of total transactions. This decline is partly due to recent geopolitical tensions, notably the conflict between Iran and Israel, which have contributed to a 20% drop in total market volume, now resting at $30 billion. Ethereum follows with a mere 10.23% of the transaction share.
At present, Litecoin’s price has seen a modest increase of approximately 2.6% in the past 24 hours, currently trading at $64.98. Although this rise is relatively small, the increasing adoption of Litecoin for payments could influence its value positively in the long run.
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