Average BTC Transaction Fees Increased 300% Days Before Halving

With the third Bitcoin rewards halving regular in roughly 14 hours on the time of press, the typical worth of dealings charges has surged greater than 300%.

According to information getable on Bitinfocharts, the typical dealings charges for Bitcoin (BTC) on May eight peaked at $3.19, a rise of over 300% from the typical price on April 26, $0.62. The final time the typical BTC dealings price was over $3.00 was in July 2020.

Historically, Bitcoin dealings charges previous to a halving occasion have elevated markedly. The final halving on July 9, 2020 detected dealings charges skyrocket inside the weeks prior, even shortly peaking at a mean of $0.62/dealings when the worth was round $0.10 inside a 24-hour window.

In December 2020, when BTC reached its ATH value of roughly $20,000, the typical dealings price was roughly $55. However, Bitcoin Cash (BCH) proponent, Roger Ver late claimed he has been charged charges extraordinary $1,000.

Many merchants have turn intent on be more and more bullish on Bitcoin because the block reward halving approaches. An improve inside the common dealings price could point out that customers are prepared to pay extra to get their dealingss processed sooner.

Average BTC Transaction Fees Increased 300% Days Before Halving

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