Litecoin(LTC) outshines Bitcoin and Ethereum in this key metric

January 08, 2024 07:18 AM PST | By Invezz

Litecoin(LTC) outshines Bitcoin and Ethereum in this key metric — Image source: Invezz

Network activity as a catalyst

Litecoin’s impressive figures in the crypto payment sector surfaced amid heightened network activity amid increased profitability. Glassnode data shows LTC’s transaction count attained all-time highs on December 20. The metric hit 1.27M, smashing all previous records with a number that more than doubled BTC’s transaction tally.

Also, the US dollar value of the tokens transacted on the Litecoin blockchain averaged around $2.7B in December, the highest figure since July 2023.

BitPay transaction data

BitPay remains a significant player in the cryptocurrency world. Data shows the crypto payments network processed around 390,401 transactions in the past six months. Meanwhile, 19,850, out of the 51,896 crypto transactions processed in December, used Litecoin.

Litecoin seems a more efficient alternative in the crypto payments space, potentially due to Bitcoin’s weaknesses as a mode of exchange.

The post Litecoin(LTC) outshines Bitcoin and Ethereum in this key metric appeared first on Invezz

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