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 transfer. Skyrocketing Bitcoin Fees Surpass $ 40 Bitcoin …
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 unconfirmed transactions, currently at 249,000 at the time of this report. Rising Backlog Drives Sharp …
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 fees. Despite this, as of 8:13 a.m. Eastern Time, there was a considerable backlog …
After a quiet period post-September 15, Bitcoin transaction backlogs are surging anew, with a noticeable resurgence of Ordinal inscriptions starting October 24. The number of pending bitcoin transactions in the mempool has surpassed 157,000, prompting a rise in high-priority transaction fees to $ 3.38. Bitcoin Sees Renewed Congestion, With Transaction Fees Hitting New Highs …
It’s been a captivating four months since Bitcoin’s mempool last emptied, and with the recent downturn in Ordinal inscriptions this month, the backlog now holds a mere 27,210 unconfirmed transactions. Bitcoin’s Transaction Backlog Nears End as Ordinal Inscriptions Wane A little over a fortnight ago, the clutter in Bitcoin’s mempool was quite pronounced, boasting over […]