The November payment stats 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 27% of users choose to pay with Litecoin. Litecoin is second best to Bitcoin when it comes to being used as a payment method. Litecoin also has the lowest fees to transact out of all the options on Bitpay with fees 1/10 of a penny.
Litecoin transactions make up now 66% 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 1.7% market cap of Bitcoin.
If it traded at 66% of Bitcoin's Market Cap it would have to increase by 38x. Litecoin currently trades at $77.08 at the time of this article and it would equate to a price of $2974 if it were to increase by 38x. Perhaps the data from Bitpay is showing that Litecoin is massively undervalued.
Litecoin has outperformed Bitcoin for the last 6 months also since the June lows and is now up 167% against Bitcoin.
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.