CoinGate Crypto Payments Report Highlights Solana, Shiba Inu, and Litecoin as Top Performers

  • CoinGate has recently published a detailed report on the state of cryptocurrency payments on its platform.
  • The report identifies Solana (SOL), Shiba Inu (SHIB), and Litecoin (LTC) as top performers in the crypto payment sector.
  • A significant rise in the utilization of these cryptocurrencies has been observed, highlighting their growing importance in transactions.

CoinGate’s latest report unveils significant growth trends in crypto payments, spotlighting Solana, Shiba Inu, and Litecoin as leading cryptocurrencies. Read on for in-depth insights.

Unveiling the Surge in Crypto Payments

In a comprehensive report dated July 25, CoinGate outlined the processing of 404,674 orders in the second quarter of 2024, underscoring an impressive escalation in crypto transactions. Solana, Shiba Inu, and Litecoin emerged as the prominent cryptocurrencies, demonstrating notable performance in payment processing.

Solana’s Rise to Prominence

CoinGate’s data indicates a substantial increase in Solana transactions post its integration in May 2024. By June, Solana advanced to be the sixth most preferred network for payments on the platform. The cryptocurrency’s high speed, low cost, and enhanced throughput have contributed to its rapid adoption, nearly doubling the transactions of Circle’s USD Coin (USDC) in comparison to the Binance Smart Chain (BSC) network for June 2024.

Litecoin’s Impressive Growth

Litecoin exhibited significant growth with a 3.43% increase in the second quarter of 2024 compared to the previous quarter, and a remarkable 67% Year over Year (YoY) increase. Alan Austin, Managing Director of the Litecoin Foundation, attributes this growth to Litecoin’s advanced security, improved speed, low fees, and reliability, making it a preferred choice for users.

Shiba Inu: Leading the Meme Coin Payments

Shiba Inu’s integration across the Polygon and BSC networks in May 2024 propelled its order volume, resulting in a 76% increase compared to the first quarter of 2024. CoinGate credits Shiba Inu’s robust community for its growing popularity and substantial contribution to the platform’s payment volume.

Conclusion

CoinGate’s report highlights the dynamic growth in the crypto payments sector, driven by the rising adoption of coins like Solana, Shiba Inu, and Litecoin. The data underscores these coins’ capability to deliver efficient, secure, and rapid transactions, predicting further advancements in the sector.

BREAKING NEWS

BTC Long Position Surpasses $20 Million as 1011 Insider Whale Extends 12-Game Winning Streak

COINOTAG News, October 24, cites on-chain analyst Ai Auntie,...

Ethereum (ETH) Long Position Reaches $132M as 1011 Insider Whale Opens BTC Long

COINOTAG News, October 24, citing on-chain analyst Ai Auntie...

SOL-Backed Boros Reimagines DeFi Yield Trading with $28.3B Volume and $47B Open Interest in 3 Months

COINOTAG News, October 24 — In just three months...

US European Markets Edge Higher as Gold Slumps and Tech Stocks Rebound

US markets opened higher on Friday morning in 2025,...

US-Australia Rare Earths Deal Could Boost Miners Like Graphinex

The US-Australia rare earths deal, signed by President Donald...

Bitcoin STH-SOPR at 0.992 May Signal Potential Market Bottom Formation

Bitcoin's STH-SOPR has dropped to 0.992, signaling short-term holders...

Animoca Brands Gains In-Principle VARA Approval for Crypto Brokerage in Dubai

Animoca Brands has received in-principle approval from Dubai's Virtual...

XRP Could Rally on Buy Signal and Potential ETF Inflows

XRP's price outlook remains bullish as analysts...
spot_imgspot_imgspot_img

Related Articles

spot_imgspot_imgspot_imgspot_img

Popular Categories

spot_imgspot_imgspot_img