Bitcoin transaction fees have tripled since the beginning of the week
According to Blockchain.info data, over the past three days, Bitcoin fees have climbed 191% from $ 3.52 to $ 10.25.
Previously, BTC transaction fees exceeded $ 10 only during the crypto boom period from November 2017 to January 2018. The current growth is also due to the positive dynamics in the crypto market and the interest of investors.
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The increase in fees negatively affects users and makes small transactions unprofitable, but miners derive additional benefit from this. According to Glassnode, commissions are currently 22.3% of their income, the highest since 2018.
Now, the total daily earnings of bitcoin miners for processing transactions are again higher than their counterparts on the Ethereum network. As ETH transaction fees continue to decline gradually after the September jump to $ 16 amid the hype around decentralized finance protocols.
, Shutterstock, graphics: Blockchain.info, Glassnode