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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...
Ethereum Transaction Fees Climb 219% in 3 Weeks as Onchain Crypto Transfers Become Pricier
12.11.2023
Over the last three weeks, the transaction costs for bitcoin (BTC) have climbed sharply, reaching a peak of $15 per transfer just three days ago. Similarly, the cost to transfer ethereum (ETH) has jumped significantly. In the span from October 22 to November 12, 2023, the average fee for ethereum...
Maximizing Efficiency in High Fee Environments: A Guide to Bitcoin UTXO Consolidation
10.11.2023
In an era where bitcoin transaction fees can soar unexpectedly, managing your unspent transaction outputs (UTXOs) is crucial for minimizing costs. Bitcoin users with multiple UTXOs can face hefty fees for future transactions, which depletes the value of their holdings over time. Understanding UTXO...
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...
Inordinately high — Bitcoin ordinals send BTC transaction fees to new 5-month peak
7.11.2023
Bitcoin users attempting to send on-chain BTC transactions are footing the bill for a fresh surge in ordinals
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...
Barefoot Mining CEO Projects a 52.5% Cut in Bitcoin Rewards Post-Halving
5.11.2023
This weekend’s figures indicate that bitcoin miners are nearing a critical threshold, with fewer than 25,000 blocks remaining before the anticipated halving event. Once this milestone is reached, bitcoin miners’ rewards for each block, excluding transaction fees, will decrease...
State Channels ‘Significantly Reduce Congestion and Transaction Fees,’ Ideal for Decentralized Exchanges — Louis Bellet
28.10.2023
According to Louis Bellet, the founder of the Layer-3 peer-to-peer protocol Yellow Network, crypto trading has not scaled largely because it remains unregulated in many places which in turn “greatly slows down its growth and produces tons of scams.” In contrast, traditional finance...
Miner returns over $500k in BTC transaction fee overpayment to Paxos
15.9.2023
Bitcoin explorer Mempool shared blockchain data that confirmed the funds were sent back on Sept. 15
What Is EIP-4844? A Look at Proto-Danksharding and Its Effect On Rollup Fees
4.9.2023
Ethereum Improvement Proposal 4844 (EIP-4844), also known as Proto-Danksharding, introduces a set of changes that seek to lay the logic and “scaffolding” for scaling Ethereum through sharding but without adding sharding itself. Its implementation aims to reduce the transaction fees...
Ethereum Transaction Fees Fall To Levels Not Seen Since Late 2022
28.8.2023
Ethereum’s total daily transaction fees hit an eight-month low after it plunged to 1,719 ETH approximately $2.1 million on Aug 27.
The recent decline in total gas fees can be attributed to low network activity and the rise of layer 2 scaling solutions.
According to data from on-chain analytics...
Ethereum's Daily Transaction Fees Hits 8-Month Low of $2.8M
28.8.2023
Ethereum's daily total transaction fees fell to 1,719 ETH ($2.8 million) on Sunday, the lowest single-day total since Dec. 26
Ordinal Inscriptions Approach 19 Million Amid Stagnant Fees, Bitcoin NFT Sales Drop
23.7.2023
The number of Bitcoin Ordinal inscriptions on the blockchain is nearing 19 million, a trend that has continued for the past 218 days since December 16, 2022. Statistics indicate that miners have accrued roughly 1,847.66 BTC in fees, worth about $55.29 million, confirming the millions of Ordinal...
Ethereum’s Fiery Path: $6.6 Billion Ether Burned Since the London Hard Fork
16.7.2023
Drawing upon recent data, the Ethereum network has incinerated close to 3.46 million ether, translating to a staggering $6.68 billion in value burned since the London hard fork’s implementation on August 5, 2023. Taking into account the 710-day period that followed, the Ethereum network...
Bitcoin miners raked up $184M in fees in Q2, surpassing all of 2022
6.7.2023
It's been one of the most lucrative quarters for those that profit from Bitcoin transaction fees in nearly two years
Ledger Unveils Tradelink: A Custodial Crypto Trading Platform Tailored for Institutions
28.6.2023
On June 28, the crypto hardware wallet manufacturer and security firm Ledger unveiled its latest offering, a digital currency exchange and custodial solution service, specifically tailored for institutions. The new service, known as Tradelink, has been heralded by Ledger as “the first open network...
Bitcoin Fees Decrease, But Over 257,000 Pending Transactions Await Confirmation
5.6.2023
Although the Bitcoin blockchain’s average transaction fees have decreased since surpassing $30 per transfer on May 8, there are still over 257,000 pending transactions awaiting confirmation. Furthermore, from May 1 onwards, the network has successfully verified anywhere from 355,000 to over...
Burning Metrics: Ethereum Burns 3.33 Million Ether Valued at $6.1 Billion in 21 Months
28.5.2023
In the past 21 months following Ethereum’s London hard fork, the network has witnessed the destruction of over 3.33 million ether, valued at $6.1 billion. At present, roughly 3.51 ether is burned every single minute. Standing out as a prominent participant in the burn process since August...
Rising BTC transaction fees are a good thing, Bitcoin educator shares
22.5.2023
Dan Held, the chief marketing officer at Trust Machines, believes that rising Bitcoin transaction fees may encourage users to look at other layer-2 solutions
Bitcoin Transaction Backlog Shrinks, but Over 289,000 Still Await Confirmation
20.5.2023
Although Bitcoin’s network transaction fees have decreased and a portion of the unconfirmed transfer backlog has diminished, the protocol still grapples with over 289,000 transactions awaiting confirmation. As of this writing, more than 218 blocks must be processed to fully alleviate this...