BitInfoCharts data shows that the average transaction fee on the Bitcoin blockchain was $6.84 on Wednesday, an increase of approximately 970% from the low of $0.64 hit in August.
Digital asset management firm 21Shares noted in a report that the surge was driven by increased minting of Ordinals, with nearly 1.9 million Ordinals uploaded to the Bitcoin blockchain in the past two weeks.
In addition, CryptoSlam data shows that Bitcoin’s NFT sales (excluding wash transactions) reached US$11.03 million in the past 24 hours, second only to Ethereum (US$19.81 million). (CoinDesk)