Litecoin Network Gets Ordinals As Bitcoin ‘NFTs’ Soar To 154K
Benzinga – A developer brought Ordinals to the Litecoin (CRYPTO: LTC) network on Monday. Ordinals are essentially NFTs that have the ability to inscribe content other than transactions on the Bitcoin (CRYPTO: BTC) network.
What Happened: According to Dune analytics, over 154,000 inscriptions have been created to date. Now, a developer has taken this a step further by adapting the Ordinals project for the proof-of-work blockchain Litecoin.
Software engineer Anthony Guerrera forked the GitHub repository for Bitcoin Ordinals and developed LTC Ordinals.
See More: Top Indian Apps That Give Bitcoin, NFT Rewards
The journey to bring Ordinals to the Litecoin blockchain began on Feb. 10 when a Twitter user, Indigo Nakamoto, offered an incentive of 5 LTC (approx. $500) to any person who successfully ported Ordinals to Litecoin.
5 $LTC to whoever ports this to #Litecoin #Bitcoin #Ordinals https://t.co/7X4JfMzq97
— Indigo | Nakamotoist (@indigo_nakamoto) February 11, 2023
According to Glassnode, the Bitcoin network is experiencing a sharp uptick in activity, setting its Transaction Count Momentum to its highest level since January 2021.
The current demand for Inscription transactions has sent the #Bitcoin Transaction Count Momentum to its highest level since Jan 2021.
The rapid ascent in Transaction Count reflects a significant increase in network activity, as demand for on-chain transactions begins to return. pic.twitter.com/huG76Uvmhn
— glassnode (@glassnode) February 20, 2023
Last week, an Ordinal featuring a one-second audio recording of a wet fart reportedly sold for Bitcoin worth $280,000.
Price Action: At the time of writing, BTC was trading at $24,903 up 1.63% in the last 24 hours, according to Benzinga Pro.
Read Next: Bitcoin Nears $25K, Ethereum, Dogecoin Spike: Analyst Sees Apex Crypto Hitting $40K Before ‘Harsh Correction’ This Year
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