The litecoin blockchain executed a record number of transactions on May 8 as users scrambled to find cheaper alternatives to Bitcoin’s sky-high transaction fees. sndr_krisztian reports
Transactions on the Litecoin blockchain have surged to all-time highs as the meme coin frenzy and subsequently high fees on the Bitcoin network send crypto users scrambling for alternatives.
On May 8, Litecoin executed more than 525,000 transactions in a day, coming close to Bitcoin’s 575,000 daily transactions, according to blockchain from BitInfoCharts. It is five times the average number of transactions on the Litecoin blockchain compared to earlier this year and more than double the previous all-time high near the peak of the bull market in January 2018.), the largest cryptocurrency by market capitalization, is experiencing an extreme level of congestion due to a frenzy of new Bitcoin-based BRC-20 tokens.
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