The Pepe memecoin frenzy has an unwanted impact on the transaction fees of Bitcoin.
in early May, reaching their highest point over the past two years, according to data from Crypto Fees.
On May 3, the total amount of fees paid on the Bitcoin blockchain reached $3.5 million, jumping about 400% from late April. The average Bitcoin transaction feeThe ongoing trading frenzy of memecoins like Pepe Coin has triggered an unwanted consequence for Bitcoin — driving its transaction costs to multi-year highs.The latest increase in BTC transaction fees is primarily attributed to a surge in Bitcoin activity involving BRC-20 transactions.
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