Although Bitcoin’s network transaction fees have decreased and a portion of the unconfirmed transfer backlog has diminished, the protocol still grapples with over 289,000 transactions awaiting confirmation. As of this writing, more than 218 blocks must be processed to fully alleviate this congestion.
Bitcoin’s Lingering Transaction Backlog
Data collected on May 20, 2023, at 1:35 p.m. Eastern Time reveals approximately 289,385 unconfirmed BTC transactions lingering in the backlog. This is slightly lower than the figure recorded nine days earlier on May 11, when just over 300,000 transactions were pending miner confirmation. However, fees have fallen since then; at that time, a high-priority fee was $3 per transaction.
Currently, mempool.space statistics indicate that a high-priority fee stands at $1.81 per transaction, while a medium-priority fee costs $1.62. A low-priority transfer, according to the site’s data, will amount to $1.47 per transaction on Saturday afternoon. Meanwhil
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