Updated: Jul 7
The June 2022 numbers are out for BitPay. Once again, Litecoin ranks as the second most popular choice for payments next Bitcoin. Litecoin continues to climb as now 21.21% of users choose to pay with Litecoin this is a continued increase since it was added last year.
Litecoin was the only cryptocurrency outside of USDC to see an increase from the previous month.
Litecoin transactions make up nearly 40% of all of the Bitcoin transactions on Bitpay. This is impressive as Litecoin continues to grow as one of the best payment methods. Litecoin currently trades less than 1% market cap of Bitcoin.
If it traded at a 40% of Bitcoin's Market Cap it would have to increase by 38x. Litecoin currently trades at $50.20 at the time of this article and it would equate to a price of $1,919 if it were to increase by 38x. Perhaps the data from Bitpay is showing that Litecoin is massively undervalued.
Source: Bitpay https://bitpay.com/stats/
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