we are now definitely into phase 2 of the post-halving spam attack
the top end of the fee rates is declining slowly below 2000sat/vByte but the low end is rising currently around 200sat/vByte
this means that the whales are spent, and now it's just the mackarel or sucker fish or whatever tehy are
You don't think the current state is sustainable and so situation will go back to lower fees in near future?
no, there's no way that people can keep paying such high fees
this is clear evidence of a panic buy situation, where people are rushing to mint their ordinals and runes as soon as possible before the pool of buyers dries up, so obviously as the most urgent buyers are satisfied the decline towards the less panicked, lower time preference dumbasses is now, i think, and maybe in 2-3 days fees will be back under 100sat/vByte
✊🏼
