Average on-chain Bitcoin fees drop below $2, lowest since October 2023
Since July 1st, the average transaction fee on the Bitcoin blockchain has remained below $2, reaching the lowest level since October 2023. According to data from bitinfocharts.com, the average fee for transactions is 0.000026 BTC or $1.54, equivalent to 15.5 sat/vB. The lower fees and lower BTC prices have led to a significant drop in hash prices, which is an estimate of the value of 1 petahash (PH/s) of hash per second. Currently, the hash price is below $50, at $48.62 per petahash, indicating that Bitcoin miners are still under significant pressure.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
New York man to pay $36 million for forex and crypto fraud
Cryptocurrency Statement from Visa: “The Future Will Be Different”
Visa's cryptocurrency manager, Cuy Sheffield, spoke about the future of the industry in his statement. Here are the details.
Will Altcoin Season Begin? Analytics Company Gives Its Opinion
Is there a possibility of a rally on the altcoin side after the FED makes a big interest rate cut? The analysis company shared.
Michael Saylor’s Bitcoin Claim Dropped Like a Bomb: “According to Credible Rumors…”
MicroStrategy board chairman Michael Saylor touched on a Bitcoin claim in his statement.
Trending news
MoreCrypto prices
More
