Transaction fees on the Bitcoin blockchain have increased to levels reminiscent of the 2021 bull market.
According to BitInfoCharts data, the average transaction fee on the Bitcoin network was up to $37 rose. This highest level, recorded since May, was last reached in April 2021.
According to Mempool data, on the blockchain as of this morning unconfirmed more than 280 thousand There is a transaction. Memory usage is at 1.31 GB, above the standard limit of 300 MB.
Bitcoin Ordinals may have contributed to the increase in transaction fees. According to Dune data, Bitcoin Ordinals, last day 235 Bitcoins worth of transaction fees paid. These levels were last reached in May, when a daily transaction fee of 247 BTC was paid.
The increase in transaction fees has sparked controversy within the Bitcoin community. Blockstream CEO Adam Back said: “You can’t stop JPEGs in Bitcoin. If you complain, they make more. If you try to stop them, they will take worse paths. High transaction fees increase layer2 adoption and force innovation.” said.