According to a report released by Santiment, data shows that the number of daily active Litecoin (LTC) addresses has doubled in May, increasing by 400,000.
One possible explanation for this situation is the introduction of LTC20, an experimental standard for NFTs on Litecoin. When examining the LTC supply distribution, it can be seen that the smallest group of wallets holding 0 to 0.001 LTC grows rapidly with the increase in active addresses. This correlation suggests that LTC20 may indeed be the driving force behind the anomaly in active addresses on the Litecoin network.
