Bitcoin transaction fees experienced a rollercoaster ride recently, reaching unprecedented highs before swiftly plummeting. Following Bitcoin’s fourth halving, the average transaction fee skyrocketed to a staggering $128.45, only to dramatically fall to $34.8 the next day. This fluctuation highlights the volatile nature of the cryptocurrency market. Data from YCharts reveals a significant surge in BTC […]
transaction fee
Ethereum Faces Challenges as Network Fees Drop, Activity Declines
In recent developments, Ethereum network fees have hit their lowest point in 2023, standing at just $1.15 per transaction. While this decline in transaction costs may seem like a positive sign, a closer look reveals some concerning trends in Ethereum’s ecosystem. Historically, Ethereum has thrived when its native cryptocurrency, Ether (ETH), becomes more affordable to […]
Ethereum’s Gas Fee Jumps 50% And The Culprit Is…
Ethereum’s transaction fees have risen by 50% this week, consuming $3 million in 24 hours, unexpectedly. Data from IntoTheBlock showed that this increase was brought on by a relatively unknown token VMPX, which accounted for 18% of gas use. Several analysts shed more details on the gas spike. As per Cygaar, the main culprit is […]
Bitcoin Transaction Fee Hits New High For 2021
Bitcoin transaction fee touched a three-year high of $17.20 on the 29th of January. The latest numbers coincided with the crypto-asset’s fresh ascend above $38k before cooling off yet again. According to BitInfoCharts, the last time the Bitcoin transaction fee value was found in this level was back in January 2018 when the investors rushed […]
What Triggered Bitcoin Transaction Fee To Soar To A Level Not Seen Since 2018?
Sending bitcoins is getting very expensive, as the latest development has shown that the transaction fee now costs a whopping $13.41. In the last 12 days, the asset’s price rallied from $11,200 to $13,800, the average fees in Bitcoin have appreciated by more than 570%. Overall, the figures for transaction fees of Bitcoin [BTC] have now […]
Ethereum’s Transaction Fee Shrinks 80% from ATH after Tether Switches to OMG
Trailing the crypto’s Big Daddy, Ethereum has put up a great show in the five years of its existence. Even as Bitcoin succumbed to the bearish pressure, Ether has succeeded in being the altcoins’ front runner. Investors were watchful of the value of the token as stablecoin continued to gain traction and DeFi frenzy. This ride, […]
Multi-Million Ethereum Transfer Fees a Result of Extortion Claim Researchers
The events of the last seven days left the cryptocurrency community bemused as three small Ethereum transactions attracted a transfer fee of millions of dollars. However, recent reports shed light on the sketchy multi-million ethereum transfer fees with the China-based blockchain analysis firm, PeckShield, deducing that transactions might have been a blackmail attempt. PeckShield analysis […]
Ethereum User Loses $5.2M After Two Grave Mistakes
Over the last day, the Ethereum user has fortuitously spent about $5.2 million on transaction fees to make just two ETH transactions. On June 10, the user-initiated a transfer of only $130 to ETH, accidentally incurring a cost of $2.6 million. A few hours later, the same Ethereum user started another transaction. This time round, […]