Bitcoin Onchain Fees Dip Below $2 for the First Time in Over 250 Days
Since July 1, average transaction fees on the Bitcoin blockchain have dropped below $2, with current fees at 15.5 satoshis per virtual byte (sat/vB), or $1.54 per transfer.
This marks the lowest fees in over 250 days, not seen since October 2023. The median fee is 0.000013 BTC, or $0.753 per transaction. High-priority transfers cost 9 sat/vB or $0.76, while some pay as low as 2 sat/vB or $0.17. On July 14, there were about 164,641 unconfirmed transactions in the mempool. The lower fees and BTC’s reduced price have decreased the hashprice to $48.62 per petahash, putting significant pressure on bitcoin miners.
Clever Robot News Desk 15th July 2024
