- Crypto Invest - Litecoin, Bitcoin Cash Tie on Transaction Levels

When a digital currency catches up with a rival regarding transactions, it could be an indication of higher adoption. Bitcoin Cash and Litecoin have been duking it out during the last couple of months, getting even closer until the inevitable happened yesterday. The BCH caught up with LTC with the number of blockchain transactions per day.

As per Bitinfocharts, Litecoin has been in a slow downtrend since the start of the year, having lesser daily transactions. Its last spike was on January 4 at 225K transactions when the price was also heading over $300. In the previous three months, Bitcoin Cash only surpassed LTC once on January 14 when it hit 110k transactions.

Litecoin has been on top of Bitcoin Cash since mid-January by almost double. Even so, they have been slowly coming together. BCH transactions reached roughly 38.5K yesterday while Litecoin recorded 37.5K. It is yet to be determined if it is a long-term change in trends or just another surge since both altcoins had some smaller spikes in the transaction numbers.

Litecoin failed to get the boost it expected from the release of LitePay which was supposed to lead the altcoin to the masses with convenient credit card payments. It never happened, and only its merchant component was rolled out. As a result, LTC was unable to maintain its first upward spurt since early December and begun to slide back towards $200.

Bitcoin Cash has also been on a downward slide since mid-December, losing about 70% of its value since its record high of more than $4,000. Its transaction chart looks way more linear compared to Litecoin’s which rises and falls with basic usage of the asset. Litecoin forefather Charlie Lee made several comments regarding the flappening in which the market capacity of LTC surpasses BCH.

Presently, it doesn’t look likely as both maintained a stable gap for several weeks. Bitcoin Cash remains the fourth most significant digital currency with $21 billion while Litecoin, just one place behind it, have nearly half at $11 billion. It will need collaboration or an announcement to boost levels enough to overtake BCH in the short term.

Over a more extended period, it looks more appropriate if BCH loses its popularity because of more Lightning Network and SegWit adoption for its big brother BTC. The race continues in the cryptodrome.