Bitcoin (BTC) has been facing some selling pressure off-lately with the BTC price trading under $37,000 amid some selling by whales. On the other hand, the Bitcoin network transaction fees have continued to grow.
Bitcoin Fess Shoot-Up
As popular crypto analyst Will Clemente says, the Bitcoin network fee has touched its highest levels since the ordinals frenzy earlier this year in May 2023.
Transaction fees on the Bitcoin Network are now at their highest level since the ordinals frenzy back in May pic.twitter.com/aUqU4LL8G7
— Will (@WClementeIII) November 13, 2023
However, the analyst adds that there’s no reason to complain much about the high network fees of Bitcoin. While slightly elevated transaction fees may not be the most convenient. However, as a Bitcoin holder, these higher fees contribute to increased mining incentives, ultimately bolstering the security of the network, he added.
As of November 12, the total count of minted Bitcoin Ordinals surged to a record-breaking 505,
We współpracy z: https://coingape.com/bitcoin-btc-fees-at-highest-levels-since-ordinals-frenzy-watch-this-key-support/
