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Vinny Lingham cautioned that Bitcoin faces a significant threat if a viable fee market doesn't develop soon. He suggests that users have shifted to other blockchains like Ethereum and Solana for transactions. While this poses a concern, Lingham indicates that the issue can be set aside for the moment.
Lingham’s concerns regarding the sustainability of Bitcoin’s fee market come amid earlier periods of notable price steadiness, as reflected in his observations on Bitcoin’s weekend price stability. The current migration of users to alternative blockchains may also be linked to the subdued Bitcoin buying momentum he previously identified, highlighting ongoing shifts in market dynamics.