Bitcoin Transaction Fees Surge 1000% as BRC-20 SATS Addresses Increase, Miners' Revenue Up 8.5% - 38M Inscriptions, 672K Wallets Holding Assets

Bitcoin transaction fees have surged, with a 1000% increase since August lows, driven by the resurgence of inscriptions on the blockchain. The fees now contribute 8.5% of miners' revenue. The BRC-20 SATS has seen a significant increase in addresses and minting, with a 360% rise in the past seven days. The largest holder of SATS has minted 15T, worth approximately $1.91M. The scalability showdown between L1s and L2s is being debated, with reports of a recent spike in Ethereum and Bitcoin transaction fees prompting discussions on the best path to scalability for layer-1 blockchains.