If you check at the front page of coinmarketcap from a few days ago, you can see that every single coin is pumping, which indicates that the cryptocurrency market is at a different level. There are a number of significant factors behind these price increases, but coders have added features to Litecoin. The current introduction of ordinal inscription in Litecoin signals the arrival of NFTs on Proof of Work blockchains. The process to transfer ordinal to Litecoin began on February 10th, 2023, when an unidentified tweeter user offered 5 Litcoin, which is equivalent to around $500, to anyone who could do so.
You should be aware that Litecoin was chosen as the second cryptocurrency after Bitcoin since it is the only other Bitcoin that ordinarily could function. Naturally, Litecoin is faster and less expensive than Bitcoin, but Bitcoin is more secure. However, the MimbleWinble upgrade that was performed on the Litecoin blockchain last year, which strengthened it security, is what makes Litecoin different from Bitcoin.
Litecoin is currently in ordinal, and the cryptocurrency market is responding as a result of the recent exciting price movement. Some could argue that investing in cryptocurrencies like Bitcoin and Ethereum is risky, and that investing in altcoins like NFT is even worse. But the key question is that in the year 2023 that the federal reserve is rapidly raising interest rate, Why is NFTs pumping? The Ethereum trading of opensea increased in recent weeks so much that over $500 million NFT trading was done over the last weeks as Blur reward program move to Opensea NFT marketplace.
The primary factor driving Blur's increased visibility in Opensea is a volume increase that coincides with the week in which Blur airdropped its BLUR governance token to NFT traders who earned rewards in some capacity in the NFT market. Throughout the past year, Blur has provided both its platform's users and users of other platforms with content. The Blur network has a market valuation of more than $400 million USD, and the price of a BLUR token is now $0.9652. It should come as no surprise that all of these NFT owners have some extra cash; it appears that some NFT collectors used the airdropped token to purchase NFTs and are essentially trading Blur for NFTs.