Network transaction fees on all blockchains, including Bitcoin and Ethereum Virtual Machine (EVM) chains, experienced a surge over the weekend.
The demand driven by the Ordinals inscriptions craze has pushed up fees not only on Bitcoin but other related networks too.
The activity of inscriptions on EVM chains escalated, leading to a rise in the gas spent on them.
On December 16th the gas spent on inscriptions peaked at a record high of $8.3 million, according to data from Dune Analytics.