In just under two weeks, the number of unconfirmed transactions on the Bitcoin network has skyrocketed from 134,000 to over 390,000, causing a bottleneck in the mempool.This surge in unconfirmed transactions has resulted in a staggering 343% increase in transaction fees, which have risen from $1.99 per transaction on April 26 to a current rate of $8.82 per transaction as of May 7. Bitcoin miners are struggling to keep up with the demand, leaving many users frustrated and unable to complete their transactions in a timely manner.
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