A report from cryptocurrency payment service BitPay shows that it processed 608,000 transactions in 2024, with LTC taking the top spot with 201,165 payments, BTC in second place with 130,250 payments, followed by ETH (56,356 payments).
BitPay said that "cryptocurrency plays a role in 2024," indicating that the asset class is "not only used for holding, but also for consumption."
The report shows a strong correlation between cryptocurrency prices and spending, with users cashing out their cryptocurrency holdings to buy luxury goods, jewelry, electronics, and precious metals. The transaction volume of these goods increased by 39% to 205% compared to the previous year. In addition, the United States dominates the BitPay payment field, accounting for more than 76% of the total number of transactions. (Cointelegraph)