Bitcoin network transaction fees soar to over 400 satoshis per byte

mempool.space data shows that the Bitcoin network transaction fee has surged to over 400 satoshis/byte, with medium priority temporarily reported at 430 satoshis/byte and high priority temporarily reported at 610 satoshis/byte.

The reason for this is that the new rune MEMENTO•MORI deployed by Ordinals founder Casey will begin casting at block height 868186, with a total of 100 million runes and 50% reserved.