Litecoin transactions skyrocket after launch of debit card

October 28, 2021

Litecoin (LTC) transactions have skyrocketed over the past few days, after dropping to nearly 100,000 daily transactions at the beginning of October. The surge took the number of daily transactions to nearly 150,000 and the increase is showing no signs of slowing down.

The surge in daily transactions of Litecoin tokens comes following a tweet from the official Litecoin Foundation account noting that the new LTC Visa Debit Card has been launched. With the new card, in partnership with Unbanked (a fintech firm focused on alternative payment provision), users are able to pay with Litecoin at a significant number of merchants across the world.

Litecoin payments and merchants with BitPay and Verify

As per Litecoin Card, users of the card will allow customers to deposit cryptocurrency into dollars and start spending using the card. According to the platform, the process from sign up to spending is quicker than five minutes and offers users a Litecoin account, a Litecoin wallet, and a virtual Litecoin Card which can be used at certain merchants across the globe – especially digital merchants that offer Visa as a payments processor.

Following the launch of the Litecoin Card, Litecoin issued another announcement about the partnership between Verify and BitPay, offering users more merchants to pay and transact with using the card.

Over the past month, the trading value of Litecoin has increased from a trading price of around $144 to tag a high value of $210.49. As it stands, the altcoin is looking at a price tag of $183.74, representing a nearly 6% dip in trading value over the past 24 hours.

Source: Coingecko