Bitcoin rally widens gap

Layer-2 Ethereum networks Arbitrum and Optimism have yet to bridge this gap as they currently generate less than $200,000 in daily fees.

Fee flipping (flopening?) is embarrassing when you consider the sheer number of use cases supported by Ethereum. Decentralized exchanges, DAOs, memecoins, NFTs, stablecoins, DeFi and GameFi all run on Ethereum.

Bitcoin, on the other hand, has primarily had one application for a long time – Bitcoin trading. But since 2015, and until recently, on-chain transaction rates have maintained extremely low growth. Perhaps due to its “digital gold” narrative and the growing popularity of alternative cryptocurrencies.

Ethereum users have paid $17 billion in fees over the past five years, while Bitcoin users have paid just $2.9 billion

All of that changes with Ordinals — a protocol that records individual Bitcoin ( BTC ) units with unique data to create digital collectibles, first launched in January.

Since then, music, text, art, video and even browser-based DOOM clone code have been written into Bitcoin, creating an on-chain collectibles market worth thousands of BTC. Bitcoin users trade Ordinals just like Ethereum or Solana users trade NFTs.

Today, approximately one-third to one-half of all Bitcoin transactions contain Ordinals, driving demand for block space and transaction fees. Today, a "medium priority" transaction costs about $11, while the same transaction on Ethereum costs about $2.30 (higher priority generally means faster processing), although these prices have since dropped.

TRON ranks third in terms of monthly fees, mostly thanks to stablecoin Tether

So, is it good for Bitcoin to charge more fees than Ethereum? Maybe not.

Some Bitcoin insiders are concerned that the network is not properly equipped to handle the influx of Ordinals and potential interest from its original use case (BTC payments).

The CryptoKitties incident of December 2017 – during which an NFT game became so popular that it seriously

Until then, it seems reasonable to value Bitcoin and Ethereum more similarly.One more run may be necessary. #BTC #ETH