⭐ Merited by JayJuanGee (1)
Well, seems like the Kramer effect was more serious on the mempool than on the price, at first glance I though Viabtc mined two consecutive blocks but no,
Seems like the fees are back under 50sat/b, not great not terrible!
Of course it's still almost like holiday in the most of the world, it's barely 4 am in Europe so by tomorrow evening they might grow again but still the huge wall of fees is decreasing, from record high of 240Mvb till 10 sat/vb we're down to 185Mvb, although there are still incoming transactions seems like nobody is that eager to pay over 100sat/vb for a tx.
Seems like the fees are back under 50sat/b, not great not terrible!
Of course it's still almost like holiday in the most of the world, it's barely 4 am in Europe so by tomorrow evening they might grow again but still the huge wall of fees is decreasing, from record high of 240Mvb till 10 sat/vb we're down to 185Mvb, although there are still incoming transactions seems like nobody is that eager to pay over 100sat/vb for a tx.
Right now we have 257,293 Tx unconfirmed at the moment. And the fee is also decreasing. Getting 50 Sat/vbyte is much better than getting 200+sat/vbyte. Also if the ETF is not approved today on friday, then we can have even lower fees during this weekend. However if ETF is approved, then mem pool can again become congested due to lot of transactions.
Although it's good to finally see the fees start going down, don't expect it to stay low that long because in China,
They are organizing conferences behind BRC-20, and that picture shows that the room is full of investors who come from a wide demographic. It's not merely "crypto-bros", but there's men, women, old, young, fat, thin. ANYONE in China who has money to invest, will invest in BRC-20.
I believe that picture was taken months ago, last year. Therefore if a BRC-20 conference was announced today, it would attract a lot more people.