$47 (!) on transaction fee with Blockstack wallet

Hi,

Yesterday I tried to sent 14.500 Blockstack from my wallet to Binance and had to pay a staggering $47 in BTC to be able to get the transaction through. For some reason the fee’s have been increased drastically. Does anyone know’s what’s going on?

Was this a Blockstack or BTC fee? If this fee was in BTC then we should probably expect things to get even worse if we truly are in a bull market…

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Hi Harvey, this fee was in BTC. I remember back in 2017 during the bull market I had to pay around $40 in fees to sent 0.5 BTC from Coinbase to my hardware wallet. Transactions took 24-48 hours to get through.

I heard stories of people having transactions stuck in the mempool for weeks even after paying fees of around $50 during the last bull run. So this doesn’t surprise me at all. I guess this is a sign of things to come over the next few years or for however long the next bull run will last…