Advertisment

The number of litecoin (LTC) ATMs more than doubled in June, Bitcoin.com has reported, citing data from coinatmradar. The increase has further cemented litecoin’s position the leader in altcoin-supporting cryptocurrency banking terminals.

According to coinatmradar’s report, support for the fourth-largest cryptocurrency was added on 55 ATMs last month, bringing the total to 91. Litecoin ATMs now account for more than 90 percent of all altcoin-supporting terminals.

Of course, that number pales in comparison with the amount of bitcoin-supporting ATMs (1,324 at the end of June), but the level of growth suggests that demand for litecoin terminals is quickly growing. In recent months litecoin-compatible terminals have been installed in the United States, Canada and the UK.

The majority of litecoin terminals are situated in the US, where Bitcoin of America recently added LTC capabilities to 19 cryptocurrency ATMs, while Rockitcoin integrated support for the altcoin in all 40 of its terminals. In addition, Athena Bitcoin added LTC transaction support to 10 machines.

Litecoin is often referred to as the “silver to bitcoin’s gold”, which alludes to the similarities it shares with the original cryptocurrency. LTC is heavily influenced by bitcoin, but there are some key differences that separate it from the more established digital currency. Some of those include a higher supply cap and faster block-generation times.

Litecoin’s performance in the past few months has been impressive. After years of inactivity, the litecoin price has skyrocketed, posting a more than 1000-percent increase since April. The price rally was bolstered by the activation of SegWit – a software update, designed to make the litecoin blockchain more scalable.

In today’s trading, the litecoin price stood at $41.50, as of 09:58 BST. The coin has fallen 1.2 percent in value over the past 24 hours, according to data from Coinbase-operated exchange GDAX.


Get the latest Bitcoin News on The Bitcoin News
Our Social Networks:
Facebook Instagram Pinterest Reddit Telegram Twitter Youtube