According to Foresight News: There is an increasing demand on the Bitcoin network as more than 112,000 transactions are reportedly waiting to be confirmed. As per data from mempool.space, the memory pool, or mempool, usage on the network has climbed to 832MB, indicating a busy period for bitcoin transaction processing.
The current minimum transaction fee on the Bitcoin network stands at 9 satoshis per virtual byte (sat/vB). A surge in transaction volume typically results in higher mempool usage and could lead to higher transaction fees as people compete to get their transactions confirmed faster.
