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.
I don't think this listing of ORDI has anything to do with congestion and, to be frank, we have seen more so I would not that the fee is beyond anyone's imagination I think you were not active in the market when the price for the fee were touching $32. Yeah if you want to know more you might want to visit the following thread:
And to some extent, it does have some impact on the congestion because it is a BRC-20 token so based on the BTC blockchain. This really upsets me like how money makers who don't give a shit about BTC are misusing it to make what like 10x or 50x maximum (just assume). They still are doing the wrong thing IMHO.