Should children be medically transitioning to the other gender?

Encountered an interesting article in Reuters about an “explosion” in the number of minors who are diagnosed with gender dysphoria (a 70% increase from 2020) and seeking gender-affirming medical care, including the use of hormones and puberty-blockers. The article stated that “Puberty blockers and sex hormones do not have…FDA approval for children’s gender care…the drugs’ long-term effects on fertility and sexual function remain unclear.” There is apparently an increase in suicidal thoughts among children taking them and the drugs now come with warnings to that effect.

Only a small percentage of children diagnosed with gender dysphoria are actually taking these drugs, but the number is rising fast. Many people believe gender-affirming care is life-saving and essential. Others consider it child abuse (and some red states have banned it). Many doctors have voiced concerns about usage of these drugs, but there is strong social opposition to criticizing their usage. Some European countries that formerly took a very liberal stance on gender-affirming care for minors, like Sweden and the UK, are now restricting it.

1. Should children be receiving this kind of medical intervention or should they have to wait until adulthood? Some of these treatments are obviously much less effective or useless after adulthood.
2. Is it possible that there are social, non-biological reasons that the number of trans youths is rising?