Overcrowded bitcoin meme led to a 350% increase in commissions

Commissions in the bitcoin network increased several times as its price rose to new historical highs. In parallel, there was an increase in unconfirmed transactions in the mempool.

The previous increase in the average transaction fee was recorded in late October – the maximum value was $13.15. According to Blockchair, from December 13 to 18 the commission increased from $2.70 to $12.25.

On December 18, the number of unconfirmed transactions for 1K Daily Profit reached a 30-day high of 135,237. At the time of writing, the figure had dropped to 93,471.

The size of the mempool is 54.62 MB.

The mempoolspace service reported that mempool rejects transactions with fees below 2 satoshi per byte. Priority is given to commissions of 144 satoshi per byte.

Recall, in November, commissions in the network of the first cryptocurrency fell below $8, and unconfirmed transactions numbered just under 6,000.