BTC Fees Rise By 300%
Fees on the Bitcoin network have more than tripled on the eve of the third halving. From the information provided by the Bitinfocharts, on Friday, May 8, the average transaction price on the network was $3.19, a couple of weeks ago it was 62 cents. You can see it on the screenshot below:
If we refer to history, we can see that the last time the fee reached similar values in July last year, when the bitcoin rate came close to $14,000. The maximum value was fixed in December 2017, when or one confirmed transaction cost about 55 US dollars on average.
Important to note that the size of fees has always increased before halving, for example, in July 2016 they increased by more than 300%.