Litecoin Transactions on BitPay Leave Bitcoin Ethereum Behind

Hey folks.

Users facing expensive transaction costs due to the surge in transaction fees of Bitcoin and Ethereum, have started seeking more efficient cryptos to use as payment like Litecoin (LTC).

This phenomenon is evident in monthly payment data by Bitpay which is one of the largest crypto payment services.

Notably, users of the platform favored Litecoin by 38.25% in the month of December. It has surpassed Bitcoin which was at 23.24% and Ethereum 10.45%.

Beginning in November 2023, 34.52% of BitPay payments were made in LTC compared to 30.55% made in BTC.

On fourth position was Dogecoin with 7.38% of transactions by Bitpay users in the month of December 2023. Followed by Bitcoin Cash (BCH) with 6.18%; Polygon (MATIC), with 5.09%; and Circle USD (USDC), with 2.07%.

Reportedly, Bitpay processed 51,896 payments with cryptos of which 19,850 used Litecoin. Over the last six months, reportedly the number of crypto transactions processed on BitPay were 390,401.

Hive: @haveyoursay
X: www.x.com/newsintercept
Website: www.newsintercept.com

Posted Using InLeo Alpha