54 sats \ 1 reply \ @quark 28 Jul \ on: Why Are On Chain Transaction Fees So Low Now? bitcoin_beginners
maybe people playing with ordinals got bored and went to do something else
There was a site to see ordinals data but I can't remember now. anyone knows? thanks
This. In other words... my understanding is that the vast majority of txs the last few months were ordinals and runes transactions. Those have mostly lost their appeal (see the nft market which has considerably slowed). Now the 'real' demand for blockspace is showing, and frankly while blocks are full the fees are still extremely low.
Add to that greater lightning adoption... where transactions can be quick and semi-private without on-chain transactions (it's great)