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Bitcoin Transaction Fees Spike 350% in a Month, as ETH Fees Decline

Bitcoin transaction fees are on the rise again. Fees shot up more than 350% during the last thirty days to Oct. 22. The most significant increase occurred in the last week, as the price of bitcoin soared on growing institutional interest. According to data by Bitinfocharts, it cost an average of $5.75 to send a transaction over the Bitcoin blockchain on Saturday, up from around $1.8 five days earlier. Fees peaked at $6.36 on Oct. 22, as the bitcoin (BTC) price scaled past $13,000, a 2020 high. Just over thirty days ago on Sept. 20, it cost only $1.39, on…

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Bitcoin Transactional Fees Double After BitMEX Exodus

Bitcoin transactional fees have almost doubled Ethereum’s after the CFTC filed charges against BitMEX and users started withdrawing the funds from the exchange as we are reading more in our latest bitcoin news. Bitcoin transactional fees are on the rise after the BitMEX exodus while Ethereum’s have fallen. The ETH fees are usually higher than the ones of BTC but now it seems that Bitcoin’s fees doubled Ethereum’s. While Bitcoin’s average transaction fees doubled in the past week, the data from BitInfoCharts that Ethereum’s fees are declining. The reason for that could be the recent user withdrawal of funds from…

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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 Averages Over 1 Million Active Addresses as ETH Transaction Fees Hit $2M Daily

Bitcoin averaged over a million daily active addresses in the past week for the first time since January 2018. The growing usage metrics add to evidence of a rising bull market. According to data compiled by Coin Metrics, ethereum might be on course to surpass its all-time high if the bull market continues. The data shows “ethereum averaged 626,000 daily active addresses in the period. This figure is just 111,000 short of the all-time high set on January 16, 2018.” Still, the report is highlighting the growth in network transaction fees during the same period. Explaining this growth, the report…

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