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Home»ADOPTION NEWS»Bitcoin’s average transaction fees fall after reaching all-time high with Loon launch
ADOPTION NEWS

Bitcoin’s average transaction fees fall after reaching all-time high with Loon launch

By Crypto FlexsApril 22, 20242 Mins Read
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Bitcoin’s average transaction fees fall after reaching all-time high with Loon launch
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Posted 1 minute ago In ~

Bitcoin average transaction fees fell on Sunday after soaring to an all-time high the previous day. fourth half life.

According to YCharts, the average fee paid on Bitcoin per transaction hit an all-time high of $128.45 on the day of the halving, before falling to $34.8 on April 21. data. The average transaction fee measures the average fee in USD terms when a miner processes a Bitcoin transaction.

On April 20, total Bitcoin transaction fees were $81 million, up from $7.7 million the previous day. data showed it The network recorded $22.37 million in total fees on April 21.

The surge in fees coincided with the launch of Casey Rodarmor’s Runes protocol, a new token standard similar to BRC-20. As individuals rushed to create rune-based meme coins, transaction fees rose.

Additionally, a halving block occurred on April 20th. It appears to have come from the ViaBTC mining pool.According to Blockchain.com, he received a base reward of 3.13 BTC ($199,579) and an additional reward of 37.6256 BTC ($2,399,135) as fees for the 3,050 transactions included in the block. tracker.

Bitcoin is said to have risen 0.9% at the time of publication and was traded at about $65,700. The Block Pricing Page.


Disclaimer: The Block is an independent media outlet delivering news, research and data. As of November 2023, Foresight Ventures is a majority investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information about the cryptocurrency industry. Below are our current financial disclosures.

© 2023 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.

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