The growth of commissions in the Bitcoin network on the background of the unexpected popularity of Ordinals and BRC-20 tokens, as some analysts predicted, quickly stopped and indicators have almost returned to normal.
The average transaction fee per transaction fell to $3.76 on the first cryptocurrency network on Monday morning, May 15, and by evening fell to $2.23, down even from May 1.
The overall decrease in bitcoin transaction fees has been over 90% since the peak on May 8:
Last Monday, May 8, the average transaction fee was more than
$30, and some users were paying $10,000 or more to have their transactions approved.
This with the huge surge in popularity of the NFT counterpart to the bitcoin network, Ordinals, and BRC-20 tokens. The popular cryptocurrency exchange Binance also contributed its share.
JAN3 CEO Samson Mow is confident that soon the hype around Ordinals and BRC-20 tokens will subside, and these tokens themselves are useless.