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?
Sadly, most Binance listing somehow influences the market due to the exchange level of liquidity and the chance of quick profit the exchange listing always provide to the cryptocurrency investment.
Another sad thing is that 90% of all crypto investments only care about profit and have no sentiment for the market condition.
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.
The solution I can think of is the implementation of Schnorr signatures which will also improve security and privacy. Another is the use of lightning network.
I think they are more than stupid because they are only after the profit aspect of the market and never care about the result with the huge transaction fee the ordinal is creating in the BTC network.