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<img width="1260" height="840" src="https://coingape.com/wp-content/uploads/2023/11/golden-litecoin-coin-close-up-2022-12-16-11-52-30-utc-1260x840-1.jpeg" class="attachment-full size-full wp-post-image" alt="" decoding="async" style="float:right; margin:0 0 10px 10px;" srcset="https://coingape.com/wp-content/uploads/2023/11/golden-litecoin-coin-close-up-2022-12-16-11-52-30-utc-1260x840-1.jpeg 1260w, https://coingape.com/wp-content/uploads/2023/11/golden-litecoin-coin-close-up-2022-12-16-11-52-30-utc-1260x840-1-300x200.jpeg 300w, https://coingape.com/wp-content/uploads/2023/11/golden-litecoin-coin-close-up-2022-12-16-11-52-30-utc-1260x840-1-1224x816.jpeg 1224w, https://coingape.com/wp-content/uploads/2023/11/golden-litecoin-coin-close-up-2022-12-16-11-52-30-utc-1260x840-1-768x512.jpeg 768w, https://coingape.com/wp-content/uploads/2023/11/golden-litecoin-coin-close-up-2022-12-16-11-52-30-utc-1260x840-1-150x100.jpeg 150w, https://coingape.com/wp-content/uploads/2023/11/golden-litecoin-coin-close-up-2022-12-16-11-52-30-utc-1260x840-1-272x182.jpeg 272w" sizes="(max-width: 1260px) 100vw, 1260px">
The recent performance of Litecoin (LTC) as a payment protocol on BitPay has moved the cryptocurrency to unprecedented levels. 
<h2 id="strong-bitpay-on-litecoin-ltc-adoption-rate-strong">Bitpay on Litecoin (LTC) Adoption Rate</h2> 
LTC registered an all-time high (ATH) of about 41% per its count dominance as a payment option on BitPay, one of the top crypto payment processors.&nbsp; 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 BREAKING: <a href="https://twitter.com/hashtag/Litecoin?src=hash&amp;ref_src=twsrc%5Etfw">#Litecoin</a> is the #️⃣ 1️⃣ <a href="https://twitter.com/hashtag/crypto?src=hash&amp;ref_src=twsrc%5Etfw">#crypto</a> for payments!! Reaching a new ATH of over 41% of all payments on the world's leading crypto payment processor <a href="https://twitter.com/BitPay?ref_src=twsrc%5Etfw">@Bitpay</a>!!! <a href="https://twitter.com/search?q=%24LTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$LTC</a> is the market leader in real use.. More people <a href="https://twitter.com/hashtag/PayWithLITECOIN?src=hash&amp;ref_src=twsrc%5Etfw">#PayWithLITECOIN</a> than the other 3 combined!! <a href="https://t.co/RPnYacJiF0">pic.twitter.com/RPnYacJiF0</a> 
 — Litecoin (@litecoin) <a href="https://twitter.com/litecoin/status/1765852304065114341?ref_src=twsrc%5Etfw">March 7, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
This new development demonstrates that Litecoin is currently outperforming several digital assets including Bitcoin (BTC) which has been a positive momentum.&nbsp; 
Crypto payment gained intense recognition amongst individuals in many regions and with several merchants.&nbsp; 
Many people perceive the use of digital assets like Bitcoin, <a href="https://coingape.com/tesla-retains-dogecoin-as-payment-option-removes-bitcoin-news/">Dogecoin</a>, Litecoin, etc., for transaction settlement as a more accommodative approach to boycotting expensive middlemen. To ensure regulation, jurisdictions have put up structures and guidelines to monitor the burgeoning crypto payment ecosystem.&nbsp; 
<h2 id="strong-bitcoin-rally-is-not-reflecting-on-adoption-strong">Bitcoin Rally is Not Reflecting on Adoption</h2> 
Driven by the <a href="https://coingape.com/bitcoin-etfs-can-overtake-gold-etfs-this-summer-if-this-happens/">spot Bitcoin ETFs market success</a> amongst other factors, the price of <a href="https://coingape.com/breaking-bitcoin-achieves-all-time-high-climbing-above-69k/">Bitcoin reached a new ATH</a> this week as it climbed above $69,000. The massive numbers recorded by the spot Bitcoin ETF issuers including <a href="https://coingape.com/blackrock-bitcoin-etf-capitalizes-adds-12-6k-btc-in-tuesdays-tumble/">BlackRock</a> and <a href="https://coingape.com/bitcoin-etf-inflow-fidelity-influx-surges-206m-amid-grayscale-exodus/">Fidelity</a> are all indications of a growing interest in&nbsp; BTC amongst institutional investors.&nbsp; 
However, a look at BitPay data confirms that this interest has not entirely translated to adoption as a payment protocol for the Bitcoin ecosystem. The crypto payment service provider came up with a chart that shows the count of payments made in cryptocurrency. Litecoin topped the list as the most used cryptocurrency for transaction settlement with a 41.76% dominance. 
Bitcoin’s dominance in the payment ecosystem scored 24.36% of the projected total, indicating that it is far behind Litecoin in this regard.&nbsp; 
Although the chart showed that from July to October 2023, the use of other crypto as a payment option surpassed that of Litecoin. It was not until November that Litecoin began to enter the limelight before finally overtaking the other cryptocurrencies.&nbsp; 
The BitPay chart confirms that Ethereum’s use as an alternative payment method only accounts for 9%. Other digital assets that made it to the list are Dogecoin at 6.8%, Polygon (MATIC) at 5.06%, Bitcoin Cash (BCH) at 5.59% and USD Coin at 3.69%. Litecoin’s position indicates that crypto is one of the top-standing digital assets that have gained recognition over others. 
At press time, LTC price had seen up to 4.68% increase in 24 hours and was trading at $88.98. While the price is somewhat negligible for now, the impact of the intense usage over time might help shape LTC’s valuation metrics. 
The post <a href="https://coingape.com/litecoin-ltc-outshines-bitcoin-as-top-payment-option-data/">Litecoin (LTC) Outshines Bitcoin As Top Payment Option: Data</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

Litecoin (LTC) Outshines Bitcoin As Top Payment Option: Data

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