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Cumulative Ethereum Transaction Fees in 2020 Supersede Bitcoin’s by a Long Shot

This week the research and analysis team Coin Metrics published a report on how decentralized finance (defi) is “fueling Ethereum’s growth.” Meanwhile, the researchers also highlighted that Ethereum’s cumulative transaction fees in 2020 are now over $350 million and more than double the aggregated total of Bitcoin’s network fees. Coin Metrics researchers and Nate Maddrey published a new report that discusses Ethereum’s defi evolution and the growth the blockchain has seen this year. However, with the new demand Coin Metrics highlights that ETH fees have “changed dramatically” and the authors note “high gas prices are becoming the new norm.” A…

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Litecoin SegWit Adoption Reaches 80% with Bitcoin Still Far Behind

Segregated Witness (SegWit) adoption on Litecoin (LTC) is reaching new heights as penetration on the Bitcoin (BTC) chain is beyond the halfway point. However, the delay in platforms like Blockchain.com to get onboard the SegWit train still means users are paying more in fees than are necessary. Litecoin SegWit Penetration 80% of the Way ThereRead MoreRead More. The post by Osato Avan-Nomayo appeared first on BTCManager, Bitcoin, Blockchain & Cryptocurrency News

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Bitcoin Transaction Fees Soar 550% in a Month, BCH, Dash Transactions Much Cheaper

The cost of sending a transaction over the Bitcoin network rose sharply over the past month, as the price of the top cryptocurrency climbed higher. According to latest data from Bitinfocharts, the average bitcoin (BTC) transaction fee soared by as much as 547% in the month to August 6, rising from just $1 to $6.47. The fee dropped to $2.73 on August 9, but still represents an increase of about 150% from 30 days earlier. It cost BTC users $6.65 to send a transaction over the blockchain on May 20, just nine days following Bitcoin’s scheduled supply cut. This is…

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BTC Fees Hit Highest Level In A Month As The Price Shoots Up

The BTC fees hit the highest level in a month as the price rallies again but this means that the cost of sending the currency is also going to get more expensive. The data from Bitinfocharts showed the transaction fees high $6.486 on average earlier this week as we are reading more in the upcoming Bitcoin news. The BTC fees hit the highest level as the price soars. The average transaction fee was $6.5 on Thursday as the latest figures from BitinfoCharts show. The fees shot up more than 7% in the past week from the $6.1 per transaction as…

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Bitcoin Fees Skyrocket 590% Since Mid-June – Supporters Think Mempool Size Is ‘Bullish’

Bitcoin fees have grown much larger in recent days spiking to a two-month high to $3.80 per network transaction. The crypto asset’s fees have jumped 590% since June 14 and the mempool (transaction backlog) has grown significantly. Digital currency markets have been extremely bullish lately as bitcoin (BTC) touched a high of $10,974 on Bitfinex on Monday. BTC’s price has jumped over 8.8% in the last 24 hours and over 17% during the last seven days. Despite the huge spike in value, digital currency advocates have been complaining about the network’s transaction fees spiking as well. The BTC network has…

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