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<a href="https://twitter.com/LTCFoundation/status/1695435938103767437" rel="noopener noreferrer nofollow">Litecoin (LTC)</a> is seeing a rise in its utility for payments. The Litecoin Foundation, a nonprofit organization overseeing the development and support of Litecoin, draws attention to this fact in a recent post on X, formerly known as Twitter. 
Depicting a spike in its utility, Litecoin has seen a 50% increase in the percentage of use on crypto payment processor BitPay from spring to summer. 
<blockquote class="twitter-tweet"> 
 From spring to summer, Litecoin has seen a 50% increase in the percentage of use on <a href="https://twitter.com/BitPay?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@BitPay</a> - The the leading crypto payment processor in the world.Litecoin is accelerating <a href="https://twitter.com/search?q=%24LTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$LTC</a> ⚡️ <a href="https://t.co/wGsKZHT3gT" rel="noopener noreferrer nofollow">pic.twitter.com/wGsKZHT3gT</a>— Litecoin Foundation ⚡️ (@LTCFoundation) <a href="https://twitter.com/LTCFoundation/status/1695435938103767437?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">August 26, 2023</a> 
</blockquote> 
BitPay supports over 16 cryptocurrencies, including stablecoins. Litecoin takes the lead among preferred cryptocurrencies for payment, second only to Bitcoin. 
In July, LTC accounted for 34.05% of BitPay's payment count by cryptocurrency, while Bitcoin made up 36.47%. 
As <a href="https://u.today/litecoin-ltc-marks-big-milestone-of-175-million-transactions-details" rel="noopener noreferrer nofollow">reported</a>, the Litecoin network hit a big milestone recently, surpassing 175 million transactions. A trend of growth is seen, as last year, 2022, only saw a total of 39 million in the whole year. This year alone, there have been more than 46 million transactions. 
Earlier this month, Ledger and PayPal partnered&nbsp;to make purchasing cryptocurrency easier. This feature will allow users to buy cryptocurrency straight from the Ledger Live app using PayPal. 
This resulted in the integration of&nbsp;Ledger Live software with PayPal, allowing U.S. residents with verified PayPal accounts to purchase four cryptocurrencies, including Litecoin, directly through Ledger Live with no additional verification. 
<h2 id="litecoin-price-action">Litecoin price action</h2> 
At the time of writing, LTC was marginally up 0.29% in the last 24 hours to $65. Litecoin had its halving event Aug. 2, with mining rewards slashed from 12.5 LTC to 6.25 LTC. 
Despite the&nbsp;<a href="https://u.today/litecoin-ltc-halving-just-hours-away-heres-how-many-blocks-left" rel="noopener noreferrer nofollow">bullish halving event</a>, LTC has underperformed, leading to a bearish death cross formation on its chart. 
A death cross occurs when the daily moving average (MA 50) crosses above the daily moving average (MA 200). Although a death cross&nbsp;might depict further sell-offs, it is more often not the case. This is because the asset is usually oversold by the time of the formation of the death cross and might be due for a rebound.

Litecoin (LTC) Payments Surge 50% as Network Reaches New Milestone

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