The average transaction fee for Bitcoin fell below one dollar and returned to an unprecedented level, as the bonus was halved.
According to the encrypted BitInfoCharts website, from May 20 to June 14, bitcoin transaction commission (BTC) fell 91% from $ 6.65 to $ 0.56. This is followed by the peak period after half, as fees increased by more than 1,600% between April 5 and May 20.
Transaction costs doubled after 2016
In the second BTC reduction in 2016, fees increased 200% from $ 0.08 on May 1 to the local maximum of $ 0.24 on July 31. Transaction fees during a $ 0.17 time cut on July 9 were about the same level for a period after months of doubling, to $ 0.37 in October 2016.
Ethereum network fees outperform bitcoins
Cointelegraph reported that daily fees on Ethereum (ETH) exceeded those on BTC on June 6-7.
High transaction fees usually indicate a stop on the web, as users are more likely to pay more for processing their transactions. At the time of writing this report, the Ethereum network currently had 105,444 unverified transactions, and the number on the Bitcoin network was less than 1,000. The average ETH transaction fee rose to $ 4 on June 11 and then dropped to $ 0.40.
The highest transaction fee for the Bitcoin network was $ 55.16, a few days after the cryptocurrency reached the price of ATH that exceeds $ 20,000 in December 2017.