On-chain data shows a growth in Litecoin activity, suggesting that Bitcoin investors may be using LTC for taking advantage of its cheap transfers.
Litecoin Addresses With 1,000 Or Less LTC Have Been Accumulating
Recently, the transaction fees on the Bitcoin network have shot up as a result of the high amount of activity that the blockchain has been facing. This activity has mainly come due to the emergence of the BRC-20 tokens, fungible tokens created on the chain using the Ordinals protocol.
A large number of meme coins have popped up that utilize this technology (including Pepe Coin (PEPE), which has gained extremely rapid traction), so the chain has been observing a high number of transfers.
In times of network congestion like these, investors have no choice but to pay high amounts of transaction fees if they want to have any shot at getting their transfers processed quickly.
Normally, investors find it okay to pay the slightly…
