June 5, 2021 / news

Bitcoin And Ethereum Network Fees Fell 81% And 71% Over The Past Few Weeks

blockchain
Amid the general correction of the crypto market, fees on the Bitcoin and Ethereum networks have dropped by 81% and 71% over the past few weeks, respectively, after the coins reached their all-time highs.

According to Bitinfocharts, the transaction value on the Ethereum network was $ 5.8 as of June 4, 2021, while on May 12, this figure was $ 69.92 per transaction, i.e. commissions have decreased 12 times!

Комиссии в сети Ethereum

In 2020, the cost of sending an Ethereum transaction did not exceed $ 0.1. The rise in commissions has sparked the popularity of the DeFi market.

The same thing happened on the bitcoin network. If in the second half of April the commission was $ 65 per transaction, then on June 4 the figure dropped to $ 7.52:

Комиссии в сети биткоина

 

In 2017, at the peak of the previous bullish rally, the cost of sending a Bitcoin transaction was $ 50.

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