Litecoin has once again overtaken Bitcoin as the most used cryptocurrency on the BitPay. Litecoin did this back in June when Bitcoin fees started to rise and now again Litecoin surpassed Bitcoin in the month of November. Litecoin now does 34% of all the transactions, even higher than Bitcoin while also dominating all the alts combined.
For those interested in data, BitPay regularly updates its stats page at the beginning of each month. Check out the statistics at https://bitpay.com/stats/
Litecoin still remains the #2 most used for total transactions over the last 6 months, perhaps this will change in the future if Litecoin can hold the #1 spot going into the Christmas season.
Litecoin's median fee is $.001 while Bitcoin's is around $8.21. It just makes more sense to use Litecoin for small payments and purchases. Litecoin is the second oldest dominant decentralized money protocol next to Bitcoin.
BitPay also recently highlighted that Microsoft, Mecum Auctions and Apmex all accept Litecoin as payments to buy Xbox games, cars, and gold and silver.
Litecoin's resurgence as BitPay's most used digital money shows that with even a much smaller market cap than Bitcoin, Litecoin provides lots of utility as a payment protocol.
All eyes are on whether Litecoin can maintain its lead next month and overshadow Bitcoin and other altcoins on the platform. keep checking in early January to find out and have a Merry Christmas.
Source:
Comments