1 / 1 Relevant items tagged with #OnchainFees
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Bitcoin’s All-Time High Difficulty Challenges Miners as Revenue Falls
Bitcoin Miners Face Leanest Month of 2024: August Earnings Hit Year’s Low
[Sep 1 4:20 PM] Bitcoin miners faced their most challenging revenue month of the year in August, marking the lowest earnings since September 2023. Onchain fees collected in August also dipped, reaching a low not seen since last year, with a $4.14 million drop…
Ethereum’s Gas Fees Remain Low While Network Turns Inflationary
[Aug 31 4:10 PM] According to recent metrics, Ethereum’s onchain fees continue to stay impressively low, with the average transaction cost this weekend at just 0.00029 ETH or $0.743. Etherscan reports that even high-priority fees are under 1 gwei, sitting…
Bitcoin Sets New Transaction Milestones as Top Ten Busiest Days Occurred in 2024
[Aug 26 3:35 PM] In 2024, the Bitcoin network has hit some significant milestones, including reaching an all-time high price, achieving peak hashrate and difficulty, and recording the highest onchain fees ever. On top of these metrics, the blockchain also saw its…
Bitcoin Mining Profits Crushed by Record Difficulty and Historic Hashprice Drop
[Aug 7 6:40 PM] On Aug. 7, 2024, bitcoin’s price moved within a 24-hour range between $55,742 and $57,607. This lower price bracket has significantly reduced bitcoin mining revenue, causing the estimated daily value of 1 petahash per second (PH/s), also…
Average Onchain Bitcoin Fees Drop Below $2, Lowest in Over 250 Days
[Jul 14 11:19 AM] Since July 1, the average transaction fee on the Bitcoin blockchain has remained below $2, with current onchain fees at 15.5 satoshis per virtual byte (sat/vB), translating to $1.54 per transfer. Bitcoin Fees Hit 10-Month Low Onchain Bitcoin fees…
Bitcoin Miners’ June Revenue Dips Slightly Below May
[Jul 1 9:15 AM] The revenue generated by bitcoin miners slightly declined in June, totaling $963.67 million, down from May’s $964.24 million. Additionally, the hashprice, or the expected value of one petahash per second (PH/s) of hashpower, decreased from…
Rapid Fluctuations in Bitcoin Fees Cause Brief Spike in Hashprice
[Jun 9 11:27 AM] Bitcoin’s hashprice, representing the anticipated value of one petahash per second (PH/s) per day of hashing power, climbed to $95 per petahash on June 8, marking the highest level since the halving. The increase derived from a rise in…
May Shatters Bitcoin Transaction Records, Highlighting a Year of Unparalleled Achievements
[May 31 7:31 AM] According to recent data, May has set new records for milestones within the Bitcoin network. Following the record-breaking number of transactions confirmed on April 23, four of the top five days with the highest transaction counts settled on the…
Onchain Fees for Bitcoin Drop to Six-Month Low
[May 24 9:14 AM] Bitcoin transaction fees have reached their lowest point since early November 2023, roughly six months ago. The average fee is now about $2.77 per transaction, with low-priority to high-priority transfers costing between $0.38 and $0.95 per…
Bitcoin Miners’ Average Revenue Per Block Dips 25% in 3 Days, Falling to 3.83 BTC
[Apr 26 9:19 AM] In the last 24 hours, bitcoin miners have faced significantly reduced earnings, with the current hashprice lingering at a significant low. Just five days ago, miners were harvesting an average of 5.105 BTC per block, between a blend of new BTC and…
Post-Halving Fallout: Bitcoin Hashprice Slides 30%, Miners’ Earnings Hit
[Apr 23 6:36 AM] Following a peak in onchain fees, bitcoin miners experienced a significant decline in the hashprice, which fell from a daily rate of $114 per petahash on Sunday to a markedly lower $79 per petahash by Tuesday. To date, the network’s hashrate…
Bitcoin Miner Rewards Shrink Below Pre-Halving Levels as Network Fees Fall Sharply
[Apr 21 9:48 AM] After experiencing a period of high fees, onchain transfer costs on the Bitcoin network have decreased significantly. On Friday, the fees peaked at $240 per transaction, but by now they have fallen to just $11.06 each. Since reaching block height…
93 Blocks, $71 Million in Fees: Bitcoin Mining Revenue Booms Post-Halving
[Apr 20 1:19 PM] Since the halving, miners have successfully extracted 93 blocks, accumulating a significant 1,087.99 bitcoins valued at approximately $71.04 million solely from transaction fees. As of 2:00 p.m. EDT on Saturday, the current metrics indicate a…
Bitcoin Halving, Runes Proliferation Results in Historic Fee Increases, Crypto Community Reacts
[Apr 20 12:22 PM] Following the Bitcoin halving event, onchain fees climbed to over $240 per transaction just an hour later, and as of now, a high-priority transfer costs between $52 and $78 per transaction at 10:30 a.m. Eastern Time on Saturday. The increasing fees…
Heightened Bitcoin Fees and Erratic Mining Revenues Herald Murky Shift as Halving Nears
[Jan 20 9:00 AM] Recent statistics reveal that for the past 75 days, starting from Nov. 6, 2023, the average transaction fee on the Bitcoin network has consistently stayed over $5. Additionally, since Dec. 4, 2023, these fees have predominantly been over $10, with…
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 Onchain Fees Dive Below $1, Pending Transactions Drop, and Miners Experience Difficulty Reduction
[Jul 31, 2023 11:30 AM] According to recent Bitcoin data, the count of pending transactions, still awaiting confirmation, has plummeted beneath the 300,000 mark, while onchain fees have seen a reduction over the past week. Starting from July 29, the average onchain fees…
Charting Bitcoin’s Predictable Course: A Comprehensive Review of the Next 29 Reward Halvings
[Jul 22, 2023 1:30 PM] In under 280 days, Bitcoin’s blockchain will undergo its fourth reward halving event, slicing the block subsidy from 6.25 BTC to 3.125 BTC. The crypto community is abuzz with chatter, contemplating how these substantial decreases in block…
Bitcoin Blockchain Clears Over 187,000 Unconfirmed Transactions Since Last Week
[Jul 5, 2023 3:30 PM] Throughout the past week, the Bitcoin blockchain has successfully confirmed over 187,000 unconfirmed transactions, as shown by recent statistics. This has not only reduced a significant portion of the congestion but also led to a decrease in…
Bitcoin Makes Progress in Clearing Backlog, but Lightning Network Capacity and Channels Dropped Amid Congestion
[May 14, 2023 9:30 AM] In the past week, the Bitcoin network has made progress in resolving its congestion issues. On May 7, 2023, the number of unconfirmed transactions reached an all-time high of over 500,000 transfers, causing a major backlog. However, as of today…
Bitcoin Network Starts to Clear Congestion, Onchain Fees Drop by 90%
[May 11, 2023 8:00 AM] On May 7, 2023, the Bitcoin network was plagued with an overwhelming 500,000 unconfirmed transactions, causing a major bottleneck in the system. However, the good news is that the congestion has been clearing, resulting in a significant reduction…
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…
Arbitrum’s Daily Transaction Count Surpasses Ethereum for the First Time Ever
Bitcoin Continues to Record Blocks Above the 3.75 MB Range as Ordinal Inscriptions Near 150,000
[Feb 19, 2023 11:30 AM] As Ordinal inscriptions approach the 150,000 mark, blocks larger than 3 MB have become commonplace, with many blocks near the 4 MB range. Meanwhile, after the average transaction fee on-chain rose 122% higher at the beginning of February 2023, the…
Bitcoin’s Average Transfer Fees Experience Sharp Increase: 122% Rise in 10 Days
[Feb 8, 2023 2:30 PM] Statistics show transfer fees on the Bitcoin network have increased 122% since the end of last month, as the average transaction fee has climbed from $0.767 to $1.704 per transaction. The rise in onchain fees coincides with the new Ordinals digital…