• fastestFee: 44 sat/vB
• halfHourFee: 39 sat/vB
• hourFee: 33 sat/vB
• economyFee: 6 sat/vB
• minimumFee: 3 sat/vB

     

• fastestFee: 17 sat/vB
• halfHourFee: 16 sat/vB
• hourFee: 15 sat/vB
• economyFee: 6 sat/vB
• minimumFee: 3 sat/vB

The fees are surging again, but there has not been any surge of expectations nor increase in interest in Ordinals or Runes. Although, RSIC•GENESIS•RUNE is going through a "small surge", which could indicate other "small surges" in other Rune tokens and it's causing a rise in on-chain fees?

  ¯\_(ツ)_/¯


I believe the debate on "whether to remove those transactions that many users do not like or not" will start again.

     

• fastestFee: 31 sat/vB
• halfHourFee: 29 sat/vB
• hourFee: 25 sat/vB
• economyFee: 4 sat/vB
• minimumFee: 2 sat/vB

     

• fastestFee: 25 sat/vB
• halfHourFee: 22 sat/vB
• hourFee: 18 sat/vB
• economyFee: 6 sat/vB
• minimumFee: 3 sat/vB

It was merely a short increase in fees which was caused by some activity in Runes. But it didn't take a very long time before the demand for block space went down again. Plus the increased demand/activity look like it's more efficient for Runes and BRC-20s, no? Or does "efficiency" truly matter in which protocol, Runes or BRC-20, was used? The only thing that actually matters is the demand for block space?

  🤔

     

• fastestFee: 14 sat/vB
• halfHourFee: 13 sat/vB
• hourFee: 12 sat/vB
• economyFee: 2 sat/vB
• minimumFee: 1 sat/vB

     

• fastestFee: 21 sat/vB
• halfHourFee: 16 sat/vB
• hourFee: 13 sat/vB
• economyFee: 2 sat/vB
• minimumFee: 1 sat/vB

I wondered if the last transaction spike -- with the fee reaching >20 amd even >30 sat/vbyte during some times of the day -- was caused again by Ordinals, Runes or similar stuff. I recently also saw, by chance, a very big accelerated inscription (of several hundred kB).

But it seems not really. While the Runes activity has grown a bit in October compared to September, on the CryptoKoryo statistics site you can see that the combined share of fees paid by Runes is still lower than 10%, which hints that the space occupied by them is on a similar level. Share of transactions is around 15%.

Observing mempool.space, I also don't really saw that many big consolidation transactions taking place.

Thus, I'm concluding that the activity rise this time is genuine Bitcoin transaction activity. It's not unlikely that it is related to the price increase in the last days. Retailers are returning slowly to get their share of Uptober, perhaps ?