Bitcoin network average transaction fee drops below $1
The indicator reached $0,825 for the first time since July 2020
22.08.2022 - 13:55
291
2 min
0
What’s new? The average transaction fee on the Bitcoin network has dropped below the $1 mark for the first time since July 2020. As of August 22, it stands at $0.825, according to Blockchain.com. The network's hashrate has also dropped from a mid-July high of 231,4 EH/s to levels around 206 EH/s.
What other metrics changed? According to Blockchain.com, bitcoin mining revenue increased 68,63% for the month, from $13,92 million in July to $23,48 million in August. The mining difficulty began to decline in May when it was at a record 31,25T. The indicator only moved to recovery in early August: at the time of writing, its value is 28,35T.
Source: Blockchain.comAs of August 22, 13:05 UTC, bitcoin is trading at $21 185, having lost 1,3% in a day, according to Binance.
On August 4, the average transaction fee on the Ethereum network was $3. This is the lowest since December 2020, according to a study by Kaiko. The transaction fee peaked at nearly $200 in May 2022.
Useful material?
Trends
As of January 21, the capitalization of this sector of the crypto market exceeds $519 billion
Jan 21, 2025
Market
The platform generated $9,5 million in revenue during the same time
Jan 20, 2025
Market
Shares of the Trust are designed to track the market price of XRP with fewer fees and expenses
Jan 17, 2025
Market
The asset will allow USDT to move seamlessly between different blockchains
Jan 17, 2025
Market
Earlier, the community criticized the project for its lack of transparency, which led to a sharp drop in the HYPE token price
Jan 8, 2025
Market
Rising US Treasury bond yields are negatively affecting risk assets
Jan 8, 2025