finbold.com
Bitcoin (BTC) fees skyrocketed to their highest level, above $100, as the halving occurred, racking up over $2.4 million in mining fees. As a result, users, enthusiasts, and investors may turn to low-fee cryptocurrencies for efficient alternatives, potentially increasing their market demand.
The 12,000-followers cypherpunk influencer, who goes by the alias Untraceable on X (formerly Twitter), believes an extended high-fee period for BTC can drive the cryptocurrency market focus to altcoins, possibly igniting an altseason.
Is the Nano feeless network vulnerable to spam?
Interestingly, the feeless design decision has received much criticism over the years from competing cryptocurrency supporters and services. Some believe fees are crucial to prevent spam attacks and prioritize “legit transactions.” On that note, LeMahieu explained that this makes Bitcoin fees volatile while mentioning XNO’s unique methods of handling prioritization.
The currently low capitalization means XNO holds high risks from an investment perspective. Thus, investors must do their due diligence and properly measure the risk-reward ratio before making significant financial decisions.
Low-cap cryptocurrencies are prone to higher volatility than the crypto market’s usual price fluctuations and require extra caution when trading.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.