The July 2022 numbers are out for BitPay. Once again, Litecoin ranks as the second most popular choice for payments next to Bitcoin. Litecoin continues to climb as now 22% of users choose to pay with Litecoin this is a continued increase since it was added last year.
Litecoin transactions make up nearly 46% 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 at 1.2% market cap of Bitcoin.
If it traded at 46% of Bitcoin's Market Cap it would have to increase by 42x. Litecoin currently trades at $54.97 at the time of this article and it would equate to a price of $2,349 if it were to increase by 42x. Perhaps the data from Bitpay is showing that Litecoin is massively undervalued.
Source: Bitpay https://bitpay.com/stats/
Learn more about Litecoin here on BitPays website:
If you're interested in accepting crypto through BitPay you can sign up here.