Now that Bitcoin fees have come back down, what was the cause of the increase? Was it runes and ordinals?
Has the volume of these derivatives declined to the point that fees are now what they used to be?
It was actually both of the ordinals and runes, coupled with some factors like the consolidation by some exchanges, Although all this had happened separately and but they both had their impact on the transaction fee. Right now there is still a significant amount of this inscriptions still taking place but there volume as reduce drastically, look at the number of
ordiscan explorer you you will see that the number of inscriptions in each block is not getting to a hundred again not like the past. It seems the people lured into this might have found the rock bottom, also the bearish period could be reason why this shit coin movement is not like before.