Now that Bitcoin fees have come back down, what was the cause of the increase? Was it runes and ordinals?
Has the volume of these derivatives declined to the point that fees are now what they used to be?
When transactions become too many, the network becomes congested, which means that miners benefit and those who pay higher fees, larger traders get their transactions done first, and those with smaller transaction amounts get processed less. For those who are doing transactions with low fees, their transactions are late, the sooner the transaction is done, the more fees they need to pay.
The price of Bitcoin has also come down, the market is slowly going down, so the fees, transaction fees, and trading fees are also decreasing. It doesn't seem like the transaction fees were too high when Bitcoin was high, but as Bitcoin is going down, the transaction fees are getting lower as well.
The increment in the amount of transactions is always a combined thing, runes, ordinals, and normal transactions from from exchanges, and other platforms.