Anyone here who can give a solution to this issue?
Lightning Network should be the solution but the issue with it is not resolved yet. I think if you keep on using Bitcoin, no one has a solution for it unless the developer blocks the ordinals and keep it out of Bitcoin networ.
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.
Yeah, the transaction is way too expensive and it is devastating for small-time businesses and it is not good for the Bitcoin economy since these small businesses might be forced to stop their support by disabling Bitcoin payment option.
Binance accepting Ordinals simply shows they do not care about Bitcoin but their own business.
BTC blocks are mined ~ 10 minutes on average. The network is congested because fee rate is high and people who attached low tx fees will have to wait as their tx will be unconfirmed, but if you use the fee rate for high priority, your tx will likely be mined in the next block.
I did a transaction recently and the average tx fee suggested by Electrum made me wait 10 hours to confirm. This is not good if Bitcoin wants to compete with fiat payment processors.