OKX Activity Spurs Bitcoin Transaction Fee Surge Amid Network Congestion

The Bitcoin network is currently experiencing significant congestion, impacting transaction times and costs. According to mempool.space, the cost to expedite a medium-priority Bitcoin transaction has surged to $34.08, with over 333,400 transactions pending. This spike has prompted discussions among industry stakeholders regarding Bitcoin’s scalability and transaction efficiency. Bitcoin network faces unprecedented congestion, prompting calls for