Post
Topic
Board Bitcoin Discussion
Re: What caused bitcoin fees to retrace?
by
aylabadia05
on 12/07/2024, 19:59:48 UTC
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?
The dense Bitcoin transaction network has caused Bitcoin transaction fees to increase. A spike means the fees are high. If fees/transactions are as low as they are now, it can be concluded that network traffic is the opposite of dense and that is a normal condition on the Bitcoin network which makes using the Bitcoin network known to be great compared to using other networks.
In this case, what I have conveyed is a condition that I know about.