In a significant development, decentralized peer-to-peer cryptocurrency Litecoin (LTC) has scored a new global record on BitPay.
The coin has retained its crown as the most used cryptocurrency on the platform over the past six months.
LTC Breaks 12-Month BitPay Record
According to the Litecoin X account update, LTC accounted for 34.28% of all transactions. It accounts for 79,502 payments processed out of 234,874.
While LTC took 34% of the total share, Bitcoin comes second with 27.24%. Ethereum follows at a distant third, accounting for 10.94% of the total transactions.
Bitcoin Cash also showed popularity on Bitpay with an 8.6% share. Assets like Dogecoin, Polygon, USDC, and USDT raked in 5.69%, 3.18%, 3.24%, and 3.05,% respectively.
This breakthrough strengthens Litecoin’s growing influence in the digital asset payment ecosystem.
It comes as speculation grows around an LTC exchange-traded fund (ETF).
It is worth mentioning that BitPay, one of the world’s largest digital asset payment processors, has also seen Litecoin surpass other major digital assets in transaction volume.
In the last 12 months, market data reveals that Litecoin has edged out coins like BTC and ETH regarding real-world usage.
The coin has established its position as a preferred option for crypto payments.
Still, its adoption for payments is not surprising. With lower transaction fees and faster processing times than Bitcoin, LTC is considered by experts as a more reliable option for daily transactions.
A report shows that many people on BitPay have a soft spot for Litecoin due to its efficiency and cost-effectiveness.
While Bitcoin is still the dominant cryptocurrency in market value, it faces challenges related to network congestion and high fees, which often make it impractical for small transactions.
Again, the Litecoin project was developed to handle payments quickly and affordably and it is gaining traction on this front.
Litecon Utility and ETF Outlook
Notably, the surge in transactions comes amid increasing speculation about a potential Litecoin ETF.
Over the past few months, discussions around a spot LTC ETF have gained momentum, fueled by the successful launch of Bitcoin and Ethereum ETFs.
According to Polymarket data, the probability of a Litecoin ETF approval in 2025 has risen to 77%, marking an increase in optimism.
Bloomberg analysts are even more bullish, placing the odds at 90%. This suggests that institutional investors are paying closer attention to LTC’s potential.
An LTC ETF would provide traditional investors with exposure to Litecoin without the need to buy and store the assets directly.
This could drive fresh capital into the market and boost LTC’s price significantly.
However, not everyone is convinced that a Litecoin ETF will be approved.
Some analysts argue that Litecoin’s lower market capitalization than Bitcoin and Ethereum could make it less of a priority for regulators.
Litecoin Price and Forecast
As of this publication, marketcap data shows Litecoin’s price was trading at $90.66, following a 3.60% drawdown in the past 24 hours.
The price jump comes from a broader crypto market recovery this weekend.
Notably, many analysts forecast that LTC must break past the $135 resistance level to continue its upward momentum.
Analysts predict that LTC could rally toward $150 and even $200 if this happens in the coming months.
However, a failure to hold above $100 could return the price to key support levels at $80 or lower.
