Litecoin (LTC) has continued to prove itself as a leader in the crypto payment space, overtaking major digital assets like Bitcoin (BTC) and Ethereum (ETH).

According to recent data from BitPay, Litecoin is topping the graph as the top choice for transactions, holding a strong 37% share of all payments made with cryptocurrency.

The cryptocurrency’s rise in usage is because it can be used to make fast payments at considerably low prices. This makes it the best option for individual users and businesses who are looking for cheaper ways to carry out online transactions compared to other currencies.

Bitcoin, on the other hand, witnessed a price drop over the week due to the recent conflict between Iran and Israel. This has caused the total market volume to drop by 20% to $30 billion.

Additionally, BitPay’s data shows that Bitcoin’s transaction share is only 25.8% of the total transaction, followed by Ethereum with just 10.23%.

At the moment, Litecoin’s price has increased by about 2.6% in 24 hours, now trading at $64.98. While this price rise is small, the growing use of Litecoin for payments may lead to more changes in its value over time.

Source: cryptotimes

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A new HBO documentary claims to have revealed the real identity of Satoshi Nakamoto, the pseudonymous founder of Bitcoin.

The film, titled “Money Electric: The Bitcoin Mystery”, is directed by Cullen Hoback, an Emmy-nominated filmmaker known for his investigative documentaries, including Q: Into The Storm. The documentary is set to debut on October 8, 2024 at 9:00 p.m. ET/PT.

The documentary suggests that revealing Satoshi Nakamoto’s identity could significantly impact financial markets. This is especially relevant because of Bitcoin’s role in shaping economic policies and influencing political campaigns, including the upcoming 2024 U.S. presidential election.

The film addresses Bitcoin’s technical aspects and its broader cultural impact. It highlights how Bitcoin has evolved from a decentralized currency into a trillion-dollar asset class, raising questions about its future role in financial transactions and its potential risks.

The documentary promises to be an engaging and thorough investigation into the enigmatic world of Bitcoin and its elusive creator.

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Cryptocurrency has undergone some significant growing pains in its rise to mainstream recognition. As crypto and its surrounding technologies have become more popular, rising regulations and dramatic market shifts have made prices repeatedly surge and fall beyond many’s expectations. Amid these changes, keeping in tune with developing crypto mining trends is becoming increasingly important.

The crypto market moves quickly and will likely see drastic changes as its mainstream adoption grows. Here are five crypto mining trends that will have the greatest impact in recent years to help you navigate these shifts.

Given the issues the crypto market has faced in recent years, some prospective miners may question if crypto mining is worth it in 2024. The answer to that question depends on your goals, resources and how you approach the practice.

Many crypto mining prices have fallen, making mining rewards less profitable. However, the cost of crypto mining machines has also dropped, and trends like cloud mining offer lower-cost approaches. After enough time, crypto mining can be significantly less expensive than buying crypto outright, so it can still be a more profitable way to capitalize on cryptocurrency.

Rising regulations and competition raise the barrier to entry, so crypto mining may only be worth it to organizations with enough resources to manage the administrative burden and upfront costs. It’s also best to approach it with tempered expectations, anticipating slow growth rather than the opportunity to make quick returns.

Crypto mining is still worth it in 2023 if you can anticipate and react to changing crypto mining trends. Once you understand where the market is going and why it fluctuates, you can make the most informed decisions about how to capitalize on it. You can then safely and profitably tap into cryptocurrency.

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Bitcoin (BTC) recovers slightly on Wednesday, trading above $61,000, after Tuesday’s slump due to the escalating Israel-Iran conflicts. The decline, which led BTC to trade below $61,000, wiped out more than $500 million from the crypto market. US spot ETF data recorded outflows of over $240 million, the largest single-day decline in almost one month, signaling a decline in institutional demand.

Global equities and risk assets like Bitcoin experienced a setback on Tuesday as Iran launched missiles at Israel, giving rise to Fear, Uncertainty and Doubt (FUD) in the markets as Israel might respond to this attack in the coming days. This missile strike was the response to Israel’s series of attacks on Lebanon in the past weeks.

Due to this event, Bitcoin and the US S&P 500 index fell 3.98% and 0.84%, respectively,as investors flew towards safe-haven assets like Gold, which rose more than 1% on the day.

Bitcoin’s price drop triggered a wave of liquidations across the crypto market, resulting in over $500 million in total liquidations and more than $140 million specifically in BTC, according to data from CoinGlass.

US Bitcoin Spot Exchange Traded Funds (ETF) data recorded an outflow of $240.60 million on Tuesday, the largest single-day drop since September 3, and ending a streak of eight days of inflows . Studying the ETF flow data can be useful for observing institutional investors’ sentiment for Bitcoin. If this magnitude of outflows persists, demand for Bitcoin will decrease, leading to a decline in its price.