Litecoin is rebounding after reaching new lows around $70 in June, driven by a surge in Ordinal inscriptions.

More than 25 million ordinals have been added to the proof-of-work network by June 27, with a record-breaking 1.5 million added in just two weeks. This influx significantly bolsters the network's activity and resilience.

Unlike Bitcoin or Ethereum, Litecoin transactions are cost-effective, attributed to lower transaction volumes and enhanced scalability. As of June 28, the average transaction fee on Litecoin stood at $0.0037, maintaining stability despite the introduction of Ordinals in early 2023.

The rise in ordinals not only underscores Litecoin's robustness but also signals growing interest and potential for wider adoption. In early June, active addresses surged by 75%, with transactions peaking at 426,000, marking the highest activity in six months, surpassing Ethereum.

Being a Bitcoin fork, Litecoin leverages ordinals similarly, utilizing their capability to securely store diverse data types on-chain. This transparency allows other users to verify the authenticity and origin of stored data.

The success of Ordinal inscriptions on Bitcoin inspired their adoption on Litecoin and Dogecoin, facilitated by advancements like SegWit and Taproot. However, ordinals have been criticized on Bitcoin for increasing network congestion and transaction fees, although they have provided a revenue boost to miners during challenging times.