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The Halving Effect: Bitcoin Hashrate Decreases as Miners Prepare for Probable Difficulty Drop

[May 5 10:11 AM] Just over two weeks have passed since the fourth Bitcoin halving took place. During this period, the network’s hashprice dropped from over $100 per petahash to below $45 at the beginning of May. It has since increased to $50 per petahash…

Financial Squeeze Tightens for Bitcoin Miners as Earnings Continue to Fall

[Apr 28 7:17 AM] On Friday, Bitcoin’s hashprice was $56.95 per petahash per second (PH/s), but by Sunday, it had dropped to $51.66 per petahash. Over the last 100 blocks, bitcoin miners averaged about 3.55 BTC for each block they mined, indicating that…

Despite Runes’ Transaction Dominance, Bitcoin Miners See Continued Revenue Drop

[Apr 25 7:43 AM] According to recent data, transactions linked to the Runes protocol have been notably high in block utilization since its implementation on April 19. Figures from April 23 show that transactions involving Runes accounted for 81% of block usage on…

Transaction Fees Soar on Bitcoin Network as Network Braces for Halving

[Apr 18 6:52 AM] According to recent data, bitcoin transaction fees have significantly increased since the first week of April. Metrics show that the average fee has escalated to 133 satoshis per virtual byte or $19.48 per transaction. Bitcoin Fees Climb Steadily…

Bitcoin’s Hash Price Soars as Average Network Fees Spike by 288%

[Mar 7 7:30 AM] According to the latest data, bitcoin has been trading above the $67,000 mark, with average network transaction fees experiencing a 288% increase from $3 to $11.64 since Feb. 25, 2024. Meanwhile, BTC has consistently stayed over the $60,000 level…

From Low to High — Bitcoin Fees Jump Over 129% in 4 Days

[Mar 1 11:00 AM] After a short period of diminished onchain network fees, the expense of sending bitcoin has begun climbing once more, hitting a midweek average of 73.3 satoshis per virtual byte (sats/vB) or $11.48 for each transaction. Currently, a backlog of 207…

Onchain Bitcoin Fees in 2024: A Closer Look at Transaction Costs and Delays

[Feb 6 3:30 PM] Data gathered over the last 36 days reveals that the Bitcoin network’s average transfer fee has consistently exceeded the $3.68 mark, while costs for median-sized transactions have not dipped below the $1.67 threshold. As of Feb. 6, 2024…

Bitcoin Transaction Fees See Sharp Decline Since December Peak, Network Congestion Persists

[Jan 10 12:30 PM] On Jan. 10, 2024, the fee for high-priority transactions is set at 42 satoshis per virtual byte (sats/vB), amounting to $2.66 per transaction. The average transaction fee stands at 98.9 sats/vB, equivalent to $11.17 per transfer. Although there has…

Bitcoin Transaction Fees Soar to $40, Sparking Debate and Push for L2 Solutions Amid Mempool Backlog

[Dec 16, 2023 2:30 PM] On Saturday, Dec. 16, 2023, Bitcoin’s transaction fees spike to a high of $40 per transaction at 1:48 p.m. Eastern Time. The jump in onchain fees surpassed the high reached on May 8, 2023, when the average transfer cost topped $31 per…

Bitcoin Transaction Fees Spike Amid Rising Backlog and Relentless Ordinal Inscription Trend

[Dec 14, 2023 11:00 AM] Bitcoin transaction fees have surged again. On Dec. 6, 2023, bitinfocharts.com reported that the average cost of a bitcoin transaction soared to $27.55. Presently, the average transaction fee hovers around $13.93, alongside a growing backlog of…

Bitcoin Transaction Fees Dip Amid November’s Surging Miner Revenues

[Nov 25, 2023 4:35 PM] Transaction fees for Bitcoin have eased, following their surge to more than $18 per transaction on two separate occasions last week. As of November 24, 2023, the average fee per transaction stood at roughly $5.89, with the median fee per transfer…

Bitcoin Transaction Fees Skyrocket, Reaching Second Highest Point of 2023 Amidst Backlog Woes

[Nov 17, 2023 9:30 AM] On Thursday, November 16, 2023, Bitcoin saw its average transaction fees peak at $18.69 per transfer, marking a high of 0.00051 BTC. This surge represented the second-largest increase in 2023. However, the following day saw a reduction in onchain…

Bitcoin Fees Climb 150% in 3 Days as Block Space Grows More Expensive

[Nov 9, 2023 1:30 PM] Transaction fees within the Bitcoin network have surged considerably, eclipsing the figures recorded merely three days prior. A transfer deemed high-priority, which formerly cost an average of $3.38, now demands a fee of $8.46. This significant…

Is Ethereum Outshining Bitcoin in Terms of Fees? Crypto Voices Share Thoughts

[Sep 9, 2023 4:47 PM] Lately, the crypto sphere, with bitcoin aficionados in particular, has been buzzing with chatter about the fees pocketed by BTC miners. They’re pondering if these fees will adequately offset the impending 2024 halving and the accompanying…

Bitcoin’s Average and Median-Sized Network Fees Rose 40% Higher in March

[Mar 31, 2023 2:30 PM] In March 2023, Bitcoin’s average and median-sized fees jumped more than 40% higher after rising 122% in 10 days during the first week of February. The fees have followed the Ordinal inscription trend as more than 662,000 inscriptions reside…

Nifty News: Bitcoin NFTs cause spicy fees, Mastercard exec tokenizes resignation letter and more

[Feb 2, 2023 11:30 PM] Users are posting massive files to the Bitcoin network via the Ordinals protocol, taking up block space and paying high fees to do so.