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Litecoin (LTC) is in the spotlight this week as data from crypto payments processor Bitpay uncovered its dominance over its top rivals, including Bitcoin (BTC), Ethereum (ETH) and Dogecoin (DOGE), among others. The&nbsp;<a href="https://twitter.com/litecoin/status/1765852304065114341" rel="noopener noreferrer nofollow">Bitpay data</a> shows that Litecoin dominates by 41.76% per its total transaction count, a figure that marks its all-time high (ATH) score.
One of the primary use cases of cryptocurrencies is&nbsp;<a href="https://u.today/litecoin-ltc-and-dogecoin-doge-top-bitpay-rankings" rel="noopener noreferrer nofollow">their role as payment alternatives</a>. Bitpay makes this possible by onboarding merchants or businesses, giving crypto holders easier access to pay for goods and services. Despite the popularity and general market dominance of Bitcoin, it takes only about 24.36% of the total transaction count, as measured by Bitpay.
Ethereum, known for its robust decentralized finance (DeFi) ecosystem, recorded 9.05% dominance, while pioneering meme coin protocol Dogecoin (DOGE) saw its dominance pegged at 6.8%. Other digital currencies profiled include Polygon (MATIC) with 5.06% dominance, Bitcoin Cash (BCH) with 5.59% and USDC with the lowest cut at 3.69%.
<blockquote>
 BREAKING: <a href="https://twitter.com/hashtag/Litecoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Litecoin</a> is the #️⃣ 1️⃣ <a href="https://twitter.com/hashtag/crypto?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#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" rel="noopener noreferrer nofollow">@Bitpay</a>!!! <a href="https://twitter.com/search?q=%24LTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$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" rel="noopener noreferrer nofollow">#PayWithLITECOIN</a> than the other 3 combined!! <a href="https://t.co/RPnYacJiF0" rel="noopener noreferrer nofollow">pic.twitter.com/RPnYacJiF0</a>— Litecoin (@litecoin) <a href="https://twitter.com/litecoin/status/1765852304065114341?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">March 7, 2024</a>
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While Litecoin has been an underdog for some time with its ranking further sliding downward as newer protocols take centerstage, the protocol considers this payment dominance a major milestone that might help refocus attention on what it has to offer.
<h2 id="litecoin-price-outlook">Litecoin price outlook</h2>
Litecoin is one of the pioneering coins and has been one of the top-ranked digital currencies for a long time. However, it has lost its luster since failing to innovate as well as its peers in the industry.
At the time of writing, Litecoin is changing hands for $87.75, up by 2.07% in the past 24 hours. Litecoin has failed to capitalize on the&nbsp;<a href="https://u.today/bitcoin-btc-ready-for-new-all-time-high-top-trader" rel="noopener noreferrer nofollow">Bitcoin-fueled rally</a> since the start of this year. In the year-to-date (YTD) period, Litecoin has only managed to soar 19.71% compared to Bitcoin’s 58%.
Litecoin might capitalize on the renewed interest in LTC as a payment coin and its&nbsp;<a href="https://u.today/litecoin-ltc-smashes-new-all-time-high-but-not-in-price" rel="noopener noreferrer nofollow">growing transaction count</a> in hopes of reviving its growth momentum following its last halving event in August 2023.

Litecoin (LTC) Dusts BTC, ETH and DOGE as Payment Protocol

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