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Despite Fee Reduction, Bitcoin Network Faces Stubborn Transaction Backlog

[Jun 27 7:10 AM] Bitcoin transaction fees have stayed below $7 since Jun. 9, 2024, and have fallen under $3 in the last five days. Even with this decrease in fees, over 200,000 unconfirmed transactions have persisted in the backlog, as the queue has not come close…

Bitcoin’s Transaction Backlog Surges Past 400,000

[Aug 20, 2023 10:30 AM] A fortnight ago, unconfirmed BTC transactions dipped under 300,000. However, they’ve since rebounded, surpassing the 400,000 mark. While the average network fee remains under $1, since August 6, it’s fluctuated from $0.77, peaking at…

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…

Bitcoin Network’s High Difficulty Levels Poised to Ease Amid Longer Block Intervals 

[Jul 24, 2023 8:00 AM] Upon achieving an unprecedented all-time high on July 11, 2023, soaring to a staggering 53.91 trillion, Bitcoin’s difficulty is poised to decline by an estimated range of 3.9% to 4.04% come July 26, 2023. Block generation periods have been…

Bitcoin’s Average Transfer Fee Surged 92% in 4 Days With More Than 330,000 Unconfirmed Transactions in the Backlog

[Jun 22, 2023 2:00 PM] With 13.15 million ordinal inscriptions on the Bitcoin blockchain, demand has continued to keep network transfer fees high, as the average fee to transact onchain is 0.00012 BTC or $3.54 per transaction. Moreover, since June 18, 2023, average fees…

Bitcoin Fees Decrease, But Over 257,000 Pending Transactions Await Confirmation

[Jun 4, 2023 4:00 PM] Although the Bitcoin blockchain’s average transaction fees have decreased since surpassing $30 per transfer on May 8, there are still over 257,000 pending transactions awaiting confirmation. Furthermore, from May 1 onwards, the network has…

Ordinals Inscriptions on Bitcoin Surpass 10 Million, Fueling NFT and Token Boom

[May 30, 2023 8:30 AM] On Monday, May 28, 2023, a pivotal landmark was reached as the aggregate quantity of Ordinal inscriptions minted on the Bitcoin blockchain exceeded 10 million in under half a year. Since Ordinal inscriptions’ inception, bitcoin miners have…