Litecoin is showing significant growth in the cryptocurrency payment space, securing second place in transaction volumes among all cryptocurrencies.
Litecoin Takes Second Place Among Cryptocurrencies
In July 2023, Litecoin ranked second among cryptocurrencies for payment volumes, increasing its share to 14.5%, allowing it to surpass Ethereum and major stablecoins. Bitcoin still maintains its leadership with 22.9% of all transactions processed through the CoinGate platform.
Technical Advantages of Litecoin
Litecoin's popularity as a payment medium is attributed to its fast and affordable transactions. The blockchain architecture of Litecoin enables faster transaction processing compared to Bitcoin, making it appealing for merchants and consumers conducting everyday transactions.
Increasing Cryptocurrency Adoption by Merchants
Data from CoinGate reveals a growing acceptance of cryptocurrency for payments among merchants. While only 27% of merchants preferred to retain payments in digital assets in 2024, this figure rose to 40.9% in the first half of 2025, indicating greater comfort among businesses in holding cryptocurrencies.
CoinGate's data demonstrates Litecoin's growing prominence in practical cryptocurrency applications. The increase of Litecoin to 14.5% payment share and the rising merchant cryptocurrency adoption signify broader acceptance of digital assets in business.
