Bitcoin Block Demand Leads to Fee Spike as Memecoins Flourish
Over 11,000 tokens have been issued and traded on the Bitcoin network, data shows.
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Over 11,000 tokens have been issued and traded on the Bitcoin network, data shows.
Users pay the fees, measured in fractions of ether known as gwei, to execute transactions on the smart contract blockchain.
Ethereum’s Shanghai upgrade spurred deposit inflows to liquid staking protocols, including to the largest player Lido.
Investors are ditching the centralized exchange giants to stake their ETH holdings on decentralized alternatives amid regulatory concerns, and as they chase higher rewards, crypto analysts say.
The total fees paid for Ordinal Inscriptions topped 272 BTC, around $7.6 million on Tuesday, according to a Dune Analytics report. On Monday alone, over…