Name Price24H (%)
Bitcoin (BTC)
$42,420.00
-7.55%
Ethereum (ETH)
$2,977.94
-7.25%
XRP (XRP)
$0.93
-5.72%
Litecoin (LTC)
$157.53
-6.20%
The fees of Bitcoin and Ethereum slump to a six-month low
Market Analysis

The fees of Bitcoin and Ethereum slump to a six-month low

According to BitInfoCharts, the average price of a transaction using Bitcoin has fallen from an early-April all-time high of $62.77 to around $7.20 — an 88% drop over just six weeks. Bitcoin and Ethereum transaction fees have declined down to $7.20 and 4.80 respectively.

Data from YCharts also shows that average Ethereum fees have dropped from May 20’s record high of $72.21 to just $4.80, a 93% reduction in less than two weeks. Increasing adoption of Ethereum-powered decentralized finance and nonfungible tokens saw average fees increase from $3.50 at the beginning of the year to new highs of nearly $40 by the end of February.

Ethereum average transaction fees – YCharts.

<Source: Cointelegraph>

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