The August, September, and October 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 25% of users choose to pay with Litecoin. Litecoin is second best to Bitcoin when it comes to being used as a payment method.
Litecoin transactions make up now 55% 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 55% of Bitcoin's Market Cap it would have to increase by 44.8x. Litecoin currently trades at $68.11 at the time of this article and it would equate to a price of $3,056 if it were to increase by 44.8x. Perhaps the data from Bitpay is showing that Litecoin is massively undervalued.
Litecoin has outperformed Bitcoin for the last 5 months also since the June lows and is now up 92% against Bitcoin.
Source: Bitpay https://bitpay.com/stats/
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