Bitcoin Transaction Fees Plummet to Lowest Level Since 2011
CryptoNewsTerminal Staff10 Sep, 2024
Bitcoin Transaction Fees Plummet to Lowest Level Since 2011
Bitcoin transaction fees have dropped to their lowest level since 2011, according to data from CryptoQuant contributor EgyHash. The average transaction fee has fallen to 0.00000695 BTC, which is equivalent to just $0.37 in USD. This represents a significant decrease from the recent high of 0.00002 BTC in April 2021. The drop in fees is likely due to a combination of factors, including the decline in Bitcoin's price and the increase in the number of transactions being processed on the Bitcoin network. As transaction fees continue to fall, it is becoming increasingly affordable to send and receive Bitcoin. This is good news for users and businesses alike, as it will help to make Bitcoin more accessible and convenient to use.
