#1 Bitcoin Fees Are Skyrocketing Again— and It's Not Because of Runes or Ordinals
Bitcoin, Ordinals and Runes Digest
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Bitcoin transaction fees surged once again, but this time it was not due to mystical runes or ancient ordinals. According to mempool.space, a medium-priority Bitcoin transaction cost $34.08 for prompt processing. Meanwhile, over 333,400 unconfirmed transactions were waiting in line. As was often the case during fee spikes, Crypto Twitter was abuzz with discussions about Bitcoin’s limited transaction capacity and calls for the adoption of efficient layer 2 solutions and sidechains. On the other hand, Bitcoin miners reaped the benefits, more than doubling their earnings per block. Surprisingly, the cause of this congestion wasn’t related to any magical symbols. Instead, it was linked to OKX, a Seychelles-based crypto exchange that ranked as the world’s third-largest by trading volume. According to CryptoQuant, OKX’s internal transactions aimed at consolidating outputs had triggered the recent fee surge.
Source: CryptoQuant
The Royals have announced the successful update of the collection’s metadata on MagicEden, allowing users to view the traded images. Furthermore, they have made a GitBook available detailing the specifics of the collection.
Public minting and trading of Rune #16 RARE•WIZARD•ORB ($ORB) are now underway. Phase 1 of the whitelist, which includes all users with active Magic Eden Wallets, commenced this past Sunday.
Trevor.btc, the founder of Ninja Pizza, announced a airdrop of Pizza Pets to holders of unlisted Pizza Ninjas. The snapshot date has not yet been announced.
Runechain, Rune #4 THE•RUNIX•TOKEN, has announced significant changes, introducing a burn plan and an increase in revenue share for token holders.
Liquidium’s now got Runes lending and borrowing up and running.
The Wizards of Ord have announced a collab with @raeresads.
Unisat has fully distributed $Pizzas. Check your wallets!
Thought-provoking posts:
DOG Potential:
Source: BitcoinNL
DOG Sentiment:
Source: Necro_Void
RSIC Summary:
Source: bitoordileone
Decentralized Summary:
Source: blaumitz
Inflows don’t show signs of stopping anytime soon:
Source: Buy the Numbers
Top 5 runes by volume this week:
DOG•GO•TO•THE•MOON - $DOG: 27.09m
BILLION•DOLLAR•CA - $CAAT: 3.54m
RSIC•GENESIS•RUNE - $RSIC: 3.29m
RUNES•X•BITCOIN - $X: 3.26m
LOBO•THE•WOLF•PUP - $LOBO: 3.2m
Source: Magisat
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