Cryptwerk has shared a chart demonstrating that, this month, more than 2,100 companies started accepting Litecoin (LTC) for their goods and services as mass adoption spread wider during the recent pandemic.
Litecoin mass adoption spreading fast
Cryptwerk blockchain-based analytics collector has taken to Reddit to share a chart which shows significant growth in the number of companies that have adopted Litecoin as a means of payment in August.
Compared to June, this amount has increased by 500 and now totals more than 2,100. Those companies are registered on the Cryptwerk website to provide their data for analysis.
Another Cryptwerk chart dedicated to Litecoin shows that the biggest mass adoption of LTC is in the U.S. at the moment: 22.42 percent of the 2,100 companies are located there.
Second and third after the U.S. are Russia (7.58%) and the United Kingdom (7.27%).
According to another chart, shops and markets at the moment make up a 30.99% share of the 2,100 merchants who accept Litecoin. They are followed by companies working in the spheres of crypto services (25.42%) and internet services (19.68%).
LTC adoption in such areas as gambling, tourism and gaming does not go above 6 percent.
LTC transaction volume plummets
Despite this positive report from Cryptwerk, Glassnode analytics company has reported that the median volume of LTC transactions has dropped to a 5-year low and now it amounts to 0.610 LTC.
Prior to that, another similar low was recorded in mid-November last year.
Denys Serhiichuk
Tomiwabold Olajide
Valeria Blokhina