Bitcoin Transaction Fees Surpass Ethereum Amid Growing Demand for On-Chain Assets


21 Nov 2023 5:30 AM

Bitcoin's 7-day average transaction fees have outpaced those of Ethereum, signaling a renewed interest in on-chain assets. This unexpected shift in...

  • Bitcoin's average transaction fees have surpassed those of Ethereum, indicating a renewed interest in on-chain assets.
  • On November 20, Bitcoin's average daily transaction fee was $10.34, higher than Ethereum's $8.43.
  • This surge in Bitcoin transaction fees may be attributed to the resurgence of Ordinal's minting and trading, as well as increasing adoption for on-chain assets.
  • Over the last five days, Bitcoin's average daily fees have consistently surpassed Ethereum's, reflecting the market's growing appetite for assets utilizing the Ordinals Protocol.
  • The surge in Ordinals inscription activity was triggered by the listing of ORDI, the second-largest BRC-20 token, on Binance, leading to a significant increase in buying activity and a 50% jump in the ORDI token price.

The article highlights a positive sentiment towards Bitcoin's increasing transaction fees and the surge in activity related to the Ordinals Protocol and ORDI token.

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