Bitcoin Transaction Fees Surpass Ethereum Amidst Ordinals Hype

For the first time since June 2023, Bitcoin transaction fees have surpassed those of Ethereum

This increase in Bitcoin fees is primarily attributed to the growing adoption of Ordinals

Since October 24, over 6 million Ordinals have been generated, leading to the redistribution of more than $30 million in fees to the Bitcoin network

The listing of $ORDI, the native token of the Ordinals protocol, on Binance in November has further fueled excitement surrounding Ordinals

As the next Bitcoin halving approaches in less than six months, the popularity of Ordinals is expected to continue rising