Bitcoin’s Average Transfer Fees Experience Sharp Increase: 122% Rise in 10 Dnevi

Statistics show transfer fees on the Bitcoin network have increased 122% since the end of last month, as the average transaction fee has climbed from $0.767 do $1.704 na transakcijo. The rise in onchain fees coincides with the new Ordinals digital collectible trend on the network, with the number of inscriptions nearing 20,000.

Rising Transaction Fees Help Bitcoin Miners Reap Increased Revenue Despite Falling Spot Prices

Bitcoin network fees, or the average cost to transfer BTC, rose 122% during the first week of Feb. 2023. Statistics from bitinfocharts.com in ycharts.com show the average transaction on Feb. 7, 2023, was around 0.000075 BTC oz $1.70 na prenos. Onchain fees on Jan. 29, ten days prior, were roughly $0.767, according to the statistics. Users generally pay lower fees than the average, and the median-sized onchain transfer using the Bitcoin network at that time was around $0.167 na prenos. As of Feb. 7, median-sized fees have increased 316% do $0.696 na prenos.

The number of unconfirmed transactions in the mempool has been between 7,500 in 25,000 v preteklosti 24 ure. While average and median-sized onchain fees have risen to values between $0.69 in $1.70 na prenos, some users are paying around four satoshis per byte, or approximately $0.13 using current BTC Menjalni tečaji. The rise in fees coincides with the demand for Ordinals, which has pushed onchain inscriptions to 18,731 as of 1:15 popoldne. Eastern Time. Bitcoin (BTC) miners are also seeing increased revenue from the fees.

januarja 29, bitcoin miners earned 0.83 BTC from fees alone, and ten days later, on February 7, daily fees earned by miners equated to 2.442 BTC. This means that instead of just over $19,000 in fees, bitcoin miners earned over $56,000 from fees on Tuesday. This is helpful for miners as BTC spot prices have been lower in the last 24 ure, and the cost of producing BTC has been higher. Statistics for Feb. 7 indicate the cost of producing BTC, po navedbah macromicro.me charts, is around $24,260, while BTC’s spot value on Wednesday is just under $23,000.

What impact will the rise in Bitcoin network fees have on the future of the network? Share your thoughts in the comments below.

Jamie Redman

Jamie Redman je vodja novic pri Bitcoin-Tidings.com News in finančni novinar, ki živi na Floridi. Redman je od takrat aktiven član skupnosti kriptovalut 2011. Ima strast do bitcoinov, odprtokodna koda, in decentralizirane aplikacije. Od septembra 2015, Redman je napisal več kot 6,000 članki za Bitcoin-Tidings.com Novice o motečih protokolih, ki se pojavljajo danes.

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