Litecoin (LTC) has continued to prove itself as a leader in the crypto payment space, overtaking major digital assets like Bitcoin (BTC) and Ethereum (ETH).
According to recent data from BitPay, Litecoin is topping the graph as the top choice for transactions, holding a strong 37% share of all payments made with cryptocurrency.
The cryptocurrency’s rise in usage is because it can be used to make fast payments at considerably low prices. This makes it the best option for individual users and businesses who are looking for cheaper ways to carry out online transactions compared to other currencies.
Bitcoin, on the other hand, witnessed a price drop over the week due to the recent conflict between Iran and Israel. This has caused the total market volume to drop by 20% to $30 billion.
Additionally, BitPay’s data shows that Bitcoin’s transaction share is only 25.8% of the total transaction, followed by Ethereum with just 10.23%.
At the moment, Litecoin’s price has increased by about 2.6% in 24 hours, now trading at $64.98. While this price rise is small, the growing use of Litecoin for payments may lead to more changes in its value over time.
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