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