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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...
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...
Inside the 'Private Mempools' Where Ethereum Traders Hide From Front-Running Bots
31.1.2024
These private mempools – where blockchain transactions avoid the eyes of front-running bots – promise to offer better settlement and lower fees to Ethereum users, but experts are sounding the alarm bell on some big risks
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...
Blocknative Releases New Ethereum Mempool Explorer, to Help With MEV Protection
7.12.2023
The tool, which was released just a few weeks after Blocknative had to cut back on its MEV-Boost relay services, could ultimately help reduce instances of block-level manipulation and protect users from front-running bots
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 user pays $3.1M in transition fee for one 139 BTC transfer
23.11.2023
A Mempool developer suggested that the user behind the transfer might not be aware of the non-cancellation of replacement fees policy, resulting in an accidental $3.1 million transaction fee
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...
Bitcoin’s Transaction Backlog Swells With Latest Inscription Wave, Pushing Fees Up 4,000%
7.11.2023
After a quiet period post-September 15, Bitcoin transaction backlogs are surging anew, with a noticeable resurgence of Ordinal inscriptions starting October 24. The number of pending bitcoin transactions in the mempool has surpassed 157,000, prompting a rise in high-priority transaction fees...
From Half a Million to 27K: Bitcoin’s Transaction Backlog Set to Clear for First Time in Four Months
3.10.2023
It’s been a captivating four months since Bitcoin’s mempool last emptied, and with the recent downturn in Ordinal inscriptions this month, the backlog now holds a mere 27,210 unconfirmed transactions. Bitcoin’s Transaction Backlog Nears End as Ordinal Inscriptions Wane A little...
Amid Falling Inscriptions, Bitcoin Miners Chip Away at Transaction Backlog
30.9.2023
Bitcoin miners have been steadily clearing the mempool of unconfirmed transactions since the number almost reached 700,000 on September 6, 2023. Currently, the number of unconfirmed transactions has dropped to just over 153,000 pending confirmation. Transaction Backlog Shrinks as Bitcoin Miners...
Bitcoin miner Marathon mines invalid block in failed ‘experiment’
28.9.2023
Marathon said the bug emanated from its experimental mining pool used to research ways to optimize operations
Bitcoin’s Mempool Congestion: Unconfirmed Transactions Approach 700,000 in September
15.9.2023
Over the last fortnight, the quantity of unconfirmed bitcoin (BTC) transactions has consistently exceeded the 500,000 mark, nearly touching 700,000 on September 6, 2023. Metrics indicate that Bitcoin’s mempool, a shortened term for “memory pool,” has not completely cleared...