What will happen when only large institutions can afford to use Bitcoin's blockchain, due to rising fees? Won't this centralize the network if most can only trade bitcoin on centralized exchanges?
this is not permanently happen mate and don't look at it as the fees are always that high
because you are wrong , look at it now even there is a super bullish moment yet the fees are just
doing smooth meaning congestion is already subsided .
and also it is not only for Large institution because you can still use bitcoin anytime(just
that fee in which you need to consider sometimes)