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Litecoin (LTC) has emerged as the frontrunner in BitPay's payment processing service.
According to the latest data released by the Litecoin Foundation, Litecoin has hit a new all-time high, accounting for 38.25% of all BitPay transactions.
This figure not only cements its position as the preferred choice for consumers but also marks a significant milestone for the digital currency, commonly referred to as the silver to Bitcoin's gold.
A surge in Litecoin usage
With its 38.25% usage rate, LTC has surpassed Bitcoin's 23.24%, which has long been the dominant currency in the digital space.
Ethereum (ETH), holding a 10.45% share, continues to be a staple in the crypto transactions space, likely due to its smart contract capabilities and the substantial ecosystem built around its technology.
Dogecoin (DOGE), initially started as a meme, has proven its transactional utility with a respectable 7.38%, showcasing the power of community support and branding in the cryptocurrency market.
Even more niche players like MATIC and Bitcoin Cash (BCH) are making their presence felt with 5.09% and 6.18%, respectively.
The versatility of crypto payments
Users can now spend Litecoin, Dogecoin, and other coins with BitPay across a myriad of industries, ranging from purchasing gold and jewelry to buying cars and electronics.
Crypto coins have expanded their utility to donations, real estate transactions, booking travel arrangements, and a myriad of other things.
BitPay ensures a seamless transaction experience for users, which has undoubtedly contributed to its growing use.