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MARA Reports 2% Increase in Bitcoin Mining for October 2024; Transaction Fees Account for 5% of Total Production
5.11.2024
MARA (NASDAQ: MARA) has released its unaudited Bitcoin production update for October 2024, reporting a total production of 717 Bitcoin, which represents a 2% increase compared to the previous month. The company’s energized hash rate increased by 14% to reach 40.2 EH/s, marking the highest...
Why Bitcoin’s Fee Spike Is Raising Eyebrows as Prices Hold Steady Above $68K
19.10.2024
While bitcoin’s price has remained above $68,000, onchain fees tagged along for the ride. Earlier this month, fees were below $1, but two days ago on Oct. 17, the average transfer fee hit a peak of $6.32. Today, onchain fees stand at around 22.9 satoshis per virtual byte (sat/vB), or roughly...
Galaxy Research warns of sustainability issues for Bitcoin layer-2 rollups
4.8.2024
The future of Bitcoin rollups will depend on continued innovation and optimization in data compression and scalability
Ethereum and layer-2 addresses surge 127% this year — Glassnode
25.7.2024
While Bitcoin saw a 20% drop in daily active addresses in Q2 2024, Ethereum and L2s posted a 127% increase in such addresses in H1 2024
Ethereum-Based Protocol Alkimiya Creates Market for Hedging Bitcoin Fees
23.7.2024
One question is whether the protocol can pull in loyal bitcoin users – or if it will eventually end up on an Ethereum-compatible layer-2 network atop Bitcoin
Average Onchain Bitcoin Fees Drop Below $2, Lowest in Over 250 Days
14.7.2024
Since July 1, the average transaction fee on the Bitcoin blockchain has remained below $2, with current onchain fees at 15.5 satoshis per virtual byte (sat/vB), translating to $1.54 per transfer. Bitcoin Fees Hit 10-Month Low Onchain Bitcoin fees have fallen to levels not seen since October 2023...
Despite Fee Reduction, Bitcoin Network Faces Stubborn Transaction Backlog
27.6.2024
Bitcoin transaction fees have stayed below $7 since Jun. 9, 2024, and have fallen under $3 in the last five days. Even with this decrease in fees, over 200,000 unconfirmed transactions have persisted in the backlog, as the queue has not come close to clearing since October 2023. Bitcoin’s...
Rapid Fluctuations in Bitcoin Fees Cause Brief Spike in Hashprice
9.6.2024
Bitcoin’s hashprice, representing the anticipated value of one petahash per second (PH/s) per day of hashing power, climbed to $95 per petahash on June 8, marking the highest level since the halving. The increase derived from a rise in onchain fees. However, by the following day, bitcoin...
Bitcoin Miners’ Average Revenue Per Block Dips 25% in 3 Days, Falling to 3.83 BTC
26.4.2024
In the last 24 hours, bitcoin miners have faced significantly reduced earnings, with the current hashprice lingering at a significant low. Just five days ago, miners were harvesting an average of 5.105 BTC per block, between a blend of new BTC and transaction fees, following a peak in...
Noones CEO Ray Youssef Blasts Bitcoin Fees: ‘We Have Failed the Global South’
24.4.2024
Ray Youssef, the former Paxful CEO, has commented on the negative impact of high transaction fees on bitcoin adoption in emerging markets. Youssef stated on social media that the recent developments in the bitcoin fee market have pushed users to alternatives such as USDT on the Tron blockchain over...
Post-Halving Fallout: Bitcoin Hashprice Slides 30%, Miners’ Earnings Hit
23.4.2024
Following a peak in onchain fees, bitcoin miners experienced a significant decline in the hashprice, which fell from a daily rate of $114 per petahash on Sunday to a markedly lower $79 per petahash by Tuesday. To date, the network’s hashrate has experienced a modest decline, though nothing...
How the Bitcoin Halving Will Drive Action to Layer 2s
22.4.2024
Bitcoin fees sink after a record $128 daily average on halving day
22.4.2024
Within twenty-four hours of the fourth Bitcoin halving on April 20, the average fees paid on the platform witnessed a substantial drop. According to mempool.space, as of April 21, Bitcoin rates for medium-priority transactions have dropped to an average of $8–$10. According to Crypto Fees, Bitcoin...
Bitcoin Transaction Fees Come Crashing Down Post Halving
22.4.2024
After the halving, fees spiked to $146 for a medium-priority transaction and $170 for a high-priority transaction
Bitcoin Miner Rewards Shrink Below Pre-Halving Levels as Network Fees Fall Sharply
21.4.2024
After experiencing a period of high fees, onchain transfer costs on the Bitcoin network have decreased significantly. On Friday, the fees peaked at $240 per transaction, but by now they have fallen to just $11.06 each. Since reaching block height 840,179, miners are now earning less bitcoin...
93 Blocks, $71 Million in Fees: Bitcoin Mining Revenue Booms Post-Halving
20.4.2024
Since the halving, miners have successfully extracted 93 blocks, accumulating a significant 1,087.99 bitcoins valued at approximately $71.04 million solely from transaction fees. As of 2:00 p.m. EDT on Saturday, the current metrics indicate a high-priority transaction cost of 492 satoshis...
Bitcoin Halving, Runes Proliferation Results in Historic Fee Increases, Crypto Community Reacts
20.4.2024
Following the Bitcoin halving event, onchain fees climbed to over $240 per transaction just an hour later, and as of now, a high-priority transfer costs between $52 and $78 per transaction at 10:30 a.m. Eastern Time on Saturday. The increasing fees have prompted a flood of comments from individuals...
Bitcoin Miners Smash Previous Revenue Records Post-Halving; Over $54M Collected in 60 Blocks
20.4.2024
Since the halving, 63 blocks have been mined, and bitcoin miners have accumulated substantial fees following a dramatic increase in the fee rate. This surge took the cost per transaction from $18 to over $245, recorded at 9:00 p.m. EDT on Friday evening. Since then fees have dropped and by Saturday...
After Halving Event, Bitcoin Transaction Fees Soar to Over $240
20.4.2024
Upon reaching block height 840,000, when the mining pool Viabtc collected 37.626 bitcoin in fees worth $2.39 million, the expense for onchain transfers climbed, surpassing $240 per transaction. Block 840,003 recorded 16.06 bitcoins in fee payments, and block 840,004 accumulated 24 bitcoins in fees...
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...