Bitcoin Fees Hit 2-Year High
The average cost of sending a single transaction on the Bitcoin blockchain has risen to about $20, the highest since April 2021.
increasing demand for BTC blockchain space appears to have been prompted by increasing activity on the Ordinals protocol and tokens generated utilising the BRC-20 standard.
Binance had to halt BTC withdrawals twice on Sunday due to network congestion, but the cryptocurrency exchange later resumed operations after shifting $4.4 billion in assets.
Bitcoin (BTC) transaction fees have reached their highest level in two years, thanks to increased interest in the Ordinals protocol and demand for BRC-2O tokens generated on the Bitcoin blockchain.
According to on-chain data, BTC transaction costs reached a two-year high of $19.21. The cost of sending a transaction on BTC’s blockchain has not climbed so high since April 2021 when fees skyrocketed to $62.
(With Input from Shikha Singh)
You need to login in order to Like
