Litecoin Emerges as a Top Choice: BitPay Data Reveals Shift in Crypto Payment Preferences

Throughout 2023, rising transaction fees within Bitcoin (BTC) and Ethereum (ETH) prompted users to explore more efficient payment alternatives like Litecoin (LTC).

BitPay, a key cryptocurrency payment service provider, has observed a shift in user preferences. In December, 38.25% of BitPay platform payments utilized Litecoin, surpassing Bitcoin’s 23.24% and Ethereum’s 10.45%. This trend emerged in November 2023, with LTC’s payment share at 34.52% compared to BTC’s 30.55%. Dogecoin (DOGE) ranked fourth at 7.38%, followed by Bitcoin Cash (BCH) at 6.18%, Polygon (MATIC) at 5.09%, and Circle USD (USDC) at 2.07%.

BitPay stands as a leading cryptocurrency payment processor, handling 390,401 transactions in the past six months, including 51,896 transactions in December, with 19,850 opting for Litecoin.

Recent BitInfoCharts data highlighted Litecoin’s robust performance in the cryptocurrency market. Within 24 hours, the Litecoin network recorded a transaction volume of $1.23 billion, totaling 525,888 transactions, representing 25.28% of LTC’s market capitalization. In contrast, Bitcoin’s transaction volume hit $15.88 billion with 418,600 transactions (1.86% of its market value), while Ethereum’s volume was under $3 billion, less than 1% of its market value, despite surpassing 1 million transactions.

Litecoin’s growing prominence in the cryptocurrency payment landscape is primarily attributed to Bitcoin’s transactional inefficiency, driving users to seek more streamlined alternatives.


Disclaimer: Not Investment Advice

it’s crucial to understand that the information provided here is not to be construed as investment advice. The crypto market is dynamic and highly speculative, and decisions should be made based on thorough personal research and consideration of individual risk tolerance. Always consult with financial professionals and conduct your own due diligence before making any investment decisions. The intention of this exploration is to present insights and trends, not to provide specific investment recommendations.

Follow Us

Top Selling Multipurpose WP Theme


Subscribe my Newsletter for new blog posts, tips & new photos. Let's stay updated!


Crypto feed news

Our team of crypto enthusiasts and market mavens is on a mission to deliver the latest, juiciest, and most insightful updates from the ever-evolving world of cryptocurrencies.

@CryptoFeedNews 2023 All Right Reserved. Designed and Developed by TheDevThingz

Skip to content