Bitcoin (BTC) Transaction Fee Shoots to 3-Year High Hinting Strong Network Demand
In an interesting development over the last week, there’s been a huge spike in the transaction fees on the Bitcoin network. The Bitcoin network transaction fees are currently at the highest in nearly three years since July 2021. This indicates that there’s a strong demand for the Bitcoin blockchain network. advertisement Courtesy: Glassnode Popular crypto analyst Will Clemete explains that if the transaction fee is high even during the bear market, it would shoot much higher as the bull market resumes. He wrote: If transaction fees are this high in a bear market (whether from Ordinals or not) they might reach a level in the bull market that creates serious demand for L2s. Pair this with some exciting new integrations/applications, we might begin to see the lightning network truly grow. Bitcoin Investors to Closely Watch FOMC Development All eyes will be on the FOMC event scheduled on Wednesday, May 2. The commentary from the Federal Reserve wil...