<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/litecoin-becomes-the-most-used-cryptocurrency-for-payments/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Litecoin Becomes the Most Used Cryptocurrency for Payments</a><br></p>
<p style="text-align: justify">As a significant turning point, <strong>Litecoin (LTC)</strong> became the most used cryptocurrency for payments for the second consecutive month in December, outperforming all major tokens including <a href="https://en.coin-turk.com/current-market-overview-todays-featured-cryptocurrencies/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a> (BTC).</p>
<h2 id="data-from-glassnode-on-ltc">Data from Glassnode on LTC</h2>
<p style="text-align: justify">According to the world’s largest payment processor BitPay, LTC’s share in global payments increased from 34.52% in November to 38.25% in December. This was also the all-time high (ATH) for Litecoin in terms of market share. It was clear that LTC took a large portion of <strong>Bitcoin’s</strong> market share.</p>
<p style="text-align: justify">More people preferred to purchase goods and services using LTC than the combined total of BTC and <strong>Ethereum (ETH)</strong>. Using <strong>Glassnode</strong> data, it was determined that LTC’s transaction count significantly increased in December, breaking all previous records. Daily transactions peaked at 1.27 million on December 20th.</p>
<p><img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-299328 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/01/glassndoe.png" alt="" width="1800" height="1013"></p>
<h2 id="comparison-between-btc-and-ltc">Comparison Between BTC and LTC</h2>
<p style="text-align: justify">In comparison, Bitcoin recorded less than half of this number on the same day. Additionally, the USD value of cryptocurrencies transferred on-chain also witnessed a significant rise in December. <strong>LTC’s</strong> transfer volume reached the highest level since July, averaging $2.7 billion throughout the month. Despite impressive on-chain indicators, Litecoin failed to create any upward pressure on its native <strong>token</strong>. According to CoinMarketCap, the “Digital Silver” lost 11% of its market value last month.</p>
<p style="text-align: justify">LTC has been trading significantly below its 2023 peak in recent months. Even the halving event did not manage to impart meaningful momentum to the token, which was ranked 19th by market value at the time of writing. The NVT ratio, which is negatively correlated with Litecoin’s transaction volumes, has been steadily declining for the past few months. This suggests that network usage has outpaced market value growth, historically seen as a bullish signal.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/litecoin-becomes-the-most-used-cryptocurrency-for-payments/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Litecoin Becomes the Most Used Cryptocurrency for Payments</a></h5>

Litecoin Becomes the Most Used Cryptocurrency for Payments

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