⭐ Merited by Samlucky O (2)
I was checking mempool and saw the transaction fee sky rocketing. I am not sure what happened suddenly as these fees are way beyond anyone's imagination. Later on, I did found out that Binance has listed Ordinals (ORDI). I want to ask the community whether the severe high transaction fee occured because of the listing?
I went ahead and check the price of $ORDI on Binance and found that it is trading at a price which is way beyond it should be. I am sharing the screenshot below.
Anyone here who can give a solution to this issue? I feel they would continue to make the transaction fee in those Satoshi figures . This situation would not help small investors and traders as they would avoid these kinds of transaction fees.
I went ahead and check the price of $ORDI on Binance and found that it is trading at a price which is way beyond it should be. I am sharing the screenshot below.
Anyone here who can give a solution to this issue? I feel they would continue to make the transaction fee in those Satoshi figures . This situation would not help small investors and traders as they would avoid these kinds of transaction fees.
Having experience in this regards is not something new anymore, this is to tell us how the network is busy or congested, but we can always manuever our own way through, try to use a bitcoin wallet like electrum which support RBF, adjust your transactions to the lowest priority, apply the option of static and set the limit to about 20 Satoshi per vbyte, make your payment and use the transaction id to pump your transaction, use via btc to make your transaction faster since it's a mining pool and it's free, another thing you can do is to target weekend transactions or study the mempool when it's less congested.