Increased Payments Adoption as Crypto Halving Completes

Halving Event Completed for Litecoin

The Litecoin halving event has been completed with block rewards now reduced to 6.25 Litecoin (LTC) per block.

On Aug. 2, the Litecoin blockchain underwent its halving procedure at block 2,520,000, as predicted by the various halving countdown timers, including NiceHash’s. This has resulted in miners receiving half the rewards, and the clock has been reset for the next halving in approximately four years.

Litecoin founder Charlie Lee commented on the differences between the various halving countdown timers, suggesting that the NiceHash one was the most accurate.

Since early July, LTC prices have been declining, after reaching a peak of $110, the highest since April 2022. The silver to Bitcoin’s gold is currently trading around the $92 level, where it was two weeks ago.

BitPay CEO Stephen Pair on Litecoin Adoption

BitPay CEO Stephen Pair recently spoke to Cointelegraph about the adoption of Litecoin (LTC) as a payment method. According to Pair, June was the best month for both Litecoin and Bitcoin Lightning payments on the global payments platform.

LTC surpassed Bitcoin (BTC) as the most popular crypto payment on BitPay, accounting for 35% of all transactions. BitPay processed 57,949 crypto-related transactions over the past 30 days.

North America, Europe, and the United Kingdom remain BitPay’s largest markets, however, there has been notable growth for crypto payments in Africa. Pair also mentioned that Latin America is an area that is expected to see an increase in activity from BitPay merchants and customers in the coming years.

With the advent of Web 3.0, Dogelon Crypto, DIA Crypto, DCG Crypto, and the EMX Crypto platform, the future of crypto payments is looking brighter than ever. Tim Berners Lee’s Web 3.0 is expected to be released in the near future.

Cryptocurrencies In The Market

Litecoin ranks 12th among cryptocurrencies in terms of market capitalization, amounting to $6.8 billion, with a daily trading volume of approximately $1.14 billion.

Currently, there are 73.5 million LTC in circulation, with a maximum supply of 84 million.

Collect this article as an NFT to preserve this moment in history and show your support for independent journalism in the crypto space, such as Dogelon Crypto, Crypto.com, DCG Crypto, DIA Crypto, eMax Crypto, and DDX Crypto.

In addition, Web 3.0, conceptualized by Tim Berners Lee, is expected to be released soon, which will further revolutionize the world of cryptocurrencies.