Bitcoin transaction fees drop dramatically

Record charges are followed by the crash of BTC charges. Halving enriched Bitcoin miners in the short term, but now new times are dawning.

Against the backdrop of the fourth halving of Bitcoin exploded transaction fees and peaked at an average of $128. A new record high in the history of BTC. A new record high in the history of BTC.

The high fees have increased the Bitcoin-miners probably satisfied. For a few days, they even got paid significantly more than Ethereum stakers.

Now transaction fees in the Bitcoin network have dropped dramatically again. According to mempool.space a transaction with average priority cost $10.76 at press time.

Meanwhile, the cryptocurrency Bitcoin is trading at $65,850, up slightly 0.89 percent over the past 24 hours.

In a 7-day comparison, Bitcoin miners are still doing very well. According to data from Crypto Fees they earned $20.25 million in fees, compared with just $5 million in fees for Ethereum.

The block alone Halving of Bitcoin, with block high 840,000, included an impressive 37.7 BTC ( $2.4 million) in fees earned by Bitcoin miner ViaBTC.

The halving block contained 3,050 transactions, meaning the average user paid just under $800. Because of the high fees, Bitcoin miners were initially hardly affected by the reduction of the block subsidy from 6.25 BTC to 3.125 BTC.

The block grant, which makes up the bulk of miner revenues, is cut in half about every four years. Generally, they are funded by the block reward, which includes transaction fees in addition to the subsidy.

In the medium to long term, the halving of the block grant could have a major impact on Bitcoin's mining industry.