Search
The Halving Effect: Bitcoin Hashrate Decreases as Miners Prepare for Probable Difficulty Drop
5.5.2024
Just over two weeks have passed since the fourth Bitcoin halving took place. During this period, the network’s hashprice dropped from over $100 per petahash to below $45 at the beginning of May. It has since increased to $50 per petahash. Despite the modest rebound, the network’s...
Financial Squeeze Tightens for Bitcoin Miners as Earnings Continue to Fall
28.4.2024
On Friday, Bitcoin’s hashprice was $56.95 per petahash per second (PH/s), but by Sunday, it had dropped to $51.66 per petahash. Over the last 100 blocks, bitcoin miners averaged about 3.55 BTC for each block they mined, indicating that bitcoin miners are receiving less than half a BTC...
Despite Runes’ Transaction Dominance, Bitcoin Miners See Continued Revenue Drop
25.4.2024
According to recent data, transactions linked to the Runes protocol have been notably high in block utilization since its implementation on April 19. Figures from April 23 show that transactions involving Runes accounted for 81% of block usage on that day. In contrast, traditional financial...
Transaction Fees Soar on Bitcoin Network as Network Braces for Halving
18.4.2024
According to recent data, bitcoin transaction fees have significantly increased since the first week of April. Metrics show that the average fee has escalated to 133 satoshis per virtual byte or $19.48 per transaction. Bitcoin Fees Climb Steadily as Runes Protocol Launch Nears The cost of sending...
Bitcoin’s Hash Price Soars as Average Network Fees Spike by 288%
7.3.2024
According to the latest data, bitcoin has been trading above the $67,000 mark, with average network transaction fees experiencing a 288% increase from $3 to $11.64 since Feb. 25, 2024. Meanwhile, BTC has consistently stayed over the $60,000 level for eight straight days, elevating the daily value...
From Low to High — Bitcoin Fees Jump Over 129% in 4 Days
1.3.2024
After a short period of diminished onchain network fees, the expense of sending bitcoin has begun climbing once more, hitting a midweek average of 73.3 satoshis per virtual byte (sats/vB) or $11.48 for each transaction. Currently, a backlog of 207 mempool blocks is pending, waiting to process about...
Onchain Bitcoin Fees in 2024: A Closer Look at Transaction Costs and Delays
6.2.2024
Data gathered over the last 36 days reveals that the Bitcoin network’s average transfer fee has consistently exceeded the $3.68 mark, while costs for median-sized transactions have not dipped below the $1.67 threshold. As of Feb. 6, 2024, insights from Bitcoin’s transaction queue...
Bitcoin Transaction Fees See Sharp Decline Since December Peak, Network Congestion Persists
10.1.2024
On Jan. 10, 2024, the fee for high-priority transactions is set at 42 satoshis per virtual byte (sats/vB), amounting to $2.66 per transaction. The average transaction fee stands at 98.9 sats/vB, equivalent to $11.17 per transfer. Although there has been a decline in onchain fees, they currently...
Bitcoin Transaction Fees Soar to $40, Sparking Debate and Push for L2 Solutions Amid Mempool Backlog
16.12.2023
On Saturday, Dec. 16, 2023, Bitcoin’s transaction fees spike to a high of $40 per transaction at 1:48 p.m. Eastern Time. The jump in onchain fees surpassed the high reached on May 8, 2023, when the average transfer cost topped $31 per transfer. Skyrocketing Bitcoin Fees Surpass $40 Bitcoin...
Bitcoin Transaction Fees Spike Amid Rising Backlog and Relentless Ordinal Inscription Trend
14.12.2023
Bitcoin transaction fees have surged again. On Dec. 6, 2023, bitinfocharts.com reported that the average cost of a bitcoin transaction soared to $27.55. Presently, the average transaction fee hovers around $13.93, alongside a growing backlog of unconfirmed transactions, currently at 249,000 at...
Bitcoin Transaction Fees Dip Amid November’s Surging Miner Revenues
25.11.2023
Transaction fees for Bitcoin have eased, following their surge to more than $18 per transaction on two separate occasions last week. As of November 24, 2023, the average fee per transaction stood at roughly $5.89, with the median fee per transfer being $2.86. Bitcoin Fees Cool Down —...
Bitcoin Transaction Fees Skyrocket, Reaching Second Highest Point of 2023 Amidst Backlog Woes
17.11.2023
On Thursday, November 16, 2023, Bitcoin saw its average transaction fees peak at $18.69 per transfer, marking a high of 0.00051 BTC. This surge represented the second-largest increase in 2023. However, the following day saw a reduction in onchain fees. Despite this, as of 8:13 a.m. Eastern Time...
Bitcoin Fees Climb 150% in 3 Days as Block Space Grows More Expensive
9.11.2023
Transaction fees within the Bitcoin network have surged considerably, eclipsing the figures recorded merely three days prior. A transfer deemed high-priority, which formerly cost an average of $3.38, now demands a fee of $8.46. This significant increase was recorded on Thursday, November 9, 2023...
Is Ethereum Outshining Bitcoin in Terms of Fees? Crypto Voices Share Thoughts
10.9.2023
Lately, the crypto sphere, with bitcoin aficionados in particular, has been buzzing with chatter about the fees pocketed by BTC miners. They’re pondering if these fees will adequately offset the impending 2024 halving and the accompanying drop in revenue. On the other hand, Ethereum,...
Bitcoin’s Average and Median-Sized Network Fees Rose 40% Higher in March
31.3.2023
In March 2023, Bitcoin’s average and median-sized fees jumped more than 40% higher after rising 122% in 10 days during the first week of February. The fees have followed the Ordinal inscription trend as more than 662,000 inscriptions reside on the Bitcoin blockchain, and 150 bitcoin worth...
Nifty News: Bitcoin NFTs cause spicy fees, Mastercard exec tokenizes resignation letter and more
3.2.2023
Users are posting massive files to the Bitcoin network via the Ordinals protocol, taking up block space and paying high fees to do so
While the Bear Market’s Claws Drag ETH Prices Down, Ethereum Network Fees Remain Low
31.7.2022
While ethereum prices jumped 61% higher during the last 30 days, the crypto asset’s U.S. dollar value is still down more than 60% lower than ether’s all-time high recorded nine months ago. Amid the market downturn, the network’s average fees have been lower than $5...
Following a Brief Fee Spike, Gas Prices to Move Ethereum Drop 76% in 12 Days
17.4.2022
Transaction fees on the Ethereum network are dropping again after average fees saw a brief spike on April 5 jumping to $43 per transfer. 12 days later, average ether fees are close to dropping below $10 per transaction and median-sized fees have slid below $4 per transaction. Moreover, layer...
Average Ethereum Gas Fee Jumps to $20 per Transfer, L2 Fees Follow Rise
3.4.2022
While Ethereum network fees to transfer data dropped significantly in recent times, tapping a low of $5.98 per transaction in mid-March, gas fees are rising once again on the second-largest cryptocurrency network in terms of market valuation. On Sunday, April 3, the average transaction network...
Ethereum Fees Sink to Lowest Rate in 7 Months, Most L2 Fees Under $1 per Transfer
8.3.2022
Ethereum fees have continued to slide week after week and are now at the lowest value in seven months. On Tuesday, March 8, the average layer one (L1) Ethereum gas fee is 0.0042 ether or $10.89 per transfer. At the same time, median-sized gas fees are much lower as well, hitting values not seen...