Bitcoin Forum

The Strange Network Activity behind Litecoin Active Addresses.
Franklyn Richards

There’s an interesting pattern emerging amongst active Litecoin addresses on the network that suggests large periodic automated actions are being taken by an unknown entity.

On average the network typically sees around 40,000 active addresses per day, however according to data from bitinfocharts, every 7 days this value is spiking to over 70,000 before abruptly dropping back down. This has resulted in an almost sawtooth like pattern that’s pretty evident given a cursory glance.

This behaviour appears to have begun on the 20th of August 2019 and has continued to occur every week since to varying strengths. Prior to this a very noticeable dust attack occurred on the 10th of August 2019. Unless a large economic network entity has implemented a method for automatically managing and moving its Litecoin holdings (something that would seem unnecessary to this degree and so often), then it appears this activity may be related to the august 10th attack.

Could be a simple form of FUD spreading, looking at price maybe its working?
could also just be a simple stress test, people testing scripts, or just someone pissing around for something to do.    Testing attack vectors maybe
with LTC its really cheap to do this, so they can.    IMO, if its a FUD thing, its most intriguing, create drama to cause loss of confidence, and drop price? buy up cheap?
interesting!   

After LTC's halving, everyone thinks that the price could go on a run. Take note that it's just a run and not the bullish run that we think of. But the opposite happen, the price seems to go on a downward spiral.

However, it this is a strategy to pull down the price by attacking it, then it doesn't make sense to me. Why would that single entity attack it when there are other ways to hurt the price? But I like your theory of stress testing though, maybe that someone is within inside Litecoin and what better ways to attack the network by spamming it. Interesting enough, but we don't have the real answers.

Could be a simple form of FUD spreading, looking at price maybe its working?
could also just be a simple stress test, people testing scripts, or just someone pissing around for something to do.    Testing attack vectors maybe
with LTC its really cheap to do this, so they can.    IMO, if its a FUD thing, its most intriguing, create drama to cause loss of confidence, and drop price? buy up cheap?
interesting!   

After LTC's halving, everyone thinks that the price could go on a run. Take note that it's just a run and not the bullish run that we think of. But the opposite happen, the price seems to go on a downward spiral.

However, it this is a strategy to pull down the price by attacking it, then it doesn't make sense to me. Why would that single entity attack it when there are other ways to hurt the price? But I like your theory of stress testing though, maybe that someone is within inside Litecoin and what better ways to attack the network by spamming it. Interesting enough, but we don't have the real answers.