The bitcoin blockchain was busy this week, as the BRC-20 token frenzy (a new application of the Ordinals protocol that drove a spike in network fees earlier this year) reached a fever pitch. Fees for high priority transactions surpassed 500 sats / vByte for several days early in the week as NFT collectors and wash traders rushed to mint new tokens, presumably in expectation of quick profits. This flurry of activity drove transaction fees on some blocks to actually
Ten31 Timestamp 789,857
Ten31 Timestamp 789,857
Ten31 Timestamp 789,857
The bitcoin blockchain was busy this week, as the BRC-20 token frenzy (a new application of the Ordinals protocol that drove a spike in network fees earlier this year) reached a fever pitch. Fees for high priority transactions surpassed 500 sats / vByte for several days early in the week as NFT collectors and wash traders rushed to mint new tokens, presumably in expectation of quick profits. This flurry of activity drove transaction fees on some blocks to actually