Crypto use as a payment method hit multiple records in 2024!

As a leading cryptocurrency payment processor, we wanted to share the latest trends into crypto usage as a payment method in 2024 through CoinGate:

1. USDT became the most popular crypto for payments, overtaking BTC with 35.5% of all transactions. Bitcoin’s share dropped to 22.8%, while Litecoin saw a significant rise from 9.5% to 13.1%.
2. TRON surpassed Bitcoin to become the most-used blockchain, processing 31.5% of all transactions.
3. Lightning Network usage surged by 39.1%, processing 15.4% of all Bitcoin payments—doubling its share from last year.
4. Other layer 2 solutions also thrived, with Arbitrum adoption skyrocketing by 565% and Polygon seeing a 135% surge, emphasizing the importance of scalability and efficiency in crypto payments.

2024 was a record-breaking year for crypto adoption as a payment method. What are your thoughts on these trends?

Read the full yearly review: https://coingate.com/blog/post/crypto-payments-report-2024-year-of-stablecoins

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