Litecoin Dominates Global Payments in March, But Growth Stagnates: What’s Next for LTC?
Litecoin (LTC) has continued its winning streak as the most-preferred cryptocurrency for payments, surpassing Bitcoin (BTC) in global transactions in the month of March. According to data from BitPay, LTC accounted for 39% of global payments, slightly down from 41% in February. Despite this slight decline, Litecoin has maintained its dominance for the third consecutive month in 2024.
In addition to its success in payments, Litecoin has also seen a surge in long-term holders (LTH), with over 5 million users holding the coin for at least a year. This trend of HODLing, or holding onto assets for extended periods, has become increasingly popular among Litecoin investors, with LTHs making up over 62% of all Litecoin addresses with a balance.
However, despite its popularity for payments and HODLing, Litecoin’s price has remained stagnant, trading at $97, significantly lower than its all-time high of $412 in May 2021. This lack of price movement has led to a drop in speculative market investment, with money invested in LTC decreasing by 13% since the start of the month.
As Litecoin continues to dominate the global payments landscape, investors and traders are eagerly awaiting a potential price breakout that could reignite interest in the cryptocurrency. For now, Litecoin remains a top choice for users looking to make transactions, while also attracting a growing number of long-term holders seeking to capitalize on its potential future value.
