Litecoin has made a comeback after hitting a low of $70 in June. This resurgence is largely due to the surge in Ordinal inscriptions.
Ordinals on Litecoin
As of June 27, over 25 million Ordinals have been inscribed on Litecoin’s network. Notably, 1.5 million were added in just two weeks.
Low Transaction Fees
Unlike Bitcoin or Ethereum, Litecoin has lower transaction fees, making it cheaper to use. This is due to its lower transaction activity and better scalability.
Resilience and Growth
The increasing number of Ordinals on Litecoin demonstrates its resilience. Low fees allow for more items and transactions to be processed.
Interest and Adoption
The Ordinal boom reflects growing interest in Litecoin and its potential for broader adoption. Active addresses and transactions have increased significantly.
Similar to Bitcoin
Litecoin inscriptions work similarly to those on Bitcoin. They allow for the immutable storage of data on the blockchain.
Miners Benefit
The success of Ordinals on Bitcoin paved the way for their launch on Litecoin. Miners have benefited from the increased transaction fees, especially after the Bitcoin Halving in April.
