Transactions in the bitcoin network for a month have risen in price by 550%

CONTENT

  • Prices for operations in networks of other popular cryptocurrencies – on the contrary, are falling

  • The cost of transactions in the bitcoin network increased against the background of the positive movement of the cryptocurrency rate

  • The Ethereum network also recorded a rise in transaction prices

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Against the background of the active growth of the bitcoin (BTC) rate, the fees for transactions on the coin network increased by almost 550% over the last month. Operations with cryptocurrencies Bitcoin Cash and Dash – on the contrary, became cheaper.

The active growth of commissions in the bitcoin network began at the end of April – on the eve of the halving of the cryptocurrency. After reaching a local maximum on May 20 ($ 6.6), the indicator decreased to the values ​​of March / early April.

Bitcoin network commission chart. Data: bitinfocharts.com

A few days later, the cost of transactions on the bitcoin network began to rise again. The local maximum was recorded on August 6 ($ 6.4). It took the cryptocurrency a month to reach it. During this period, the price of the commission increased from $ 1.008 to $ 6.47 (547% growth).

After a short-term decline to $ 2.7, the indicator went up again. As of this writing, the commission has stopped at ($ 5.1). Changes in the price of transactions in the bitcoin network occur against the background of the active movement of the cryptocurrency rate. Comparison of BTC price behavior and fees in the coin network:

Data: bitinfocharts.com, CoinMarketCap

Despite the growth, Bitcoin transaction prices are still far from the maximum. Crypto community members recorded record commissions in the cryptocurrency network in December 2017 – against the background of BTC reaching a record value near the $ 20 thousand level.

Changes in fees in the bitcoin network for the maximum period of time. Data: bitinfocharts.com

The commissions that users pay for conducting operations on the Bitcoin network are transferred to miners. Against the background of rising prices for transactions, the income level of cryptocurrency miners also showed a positive movement.

Data: blockchain.com

While the prices for bitcoin transactions are growing, the cost of operations in the Bitcoin Cash and Dash networks, on the contrary, is falling. The comparison of the indicators of both coins is as follows:

Transactions on the bitcoin network increased by 550% in a month

Data: bitinfocharts.com

Dash transaction prices have been dropping since March 2020. In the Bitcoin Cash cryptocurrency network, the cost of operations reached a local maximum at the end of April. After the indicator went into decline with the transition to sideways movement.

Changes in the value of a transaction in networks of other popular cryptocurrencies are as follows:

Data: bitinfocharts.com

The graph shows an active growth in the cost of operations in the network of the second most capitalized Ethereum coin.

See also: Ethereum fees skyrocket to two-year high

It is noteworthy that against the background of the positive movement of fees for operations with cryptocurrency, the activity of the Ethereum network approached the level of 2017.

Crypto News: Bitcoin Flips Visa and Mastercard, Polkadot Flips Bitcoin Cash

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Transactions on the bitcoin network increased by 550% in a month
Transactions on the bitcoin network increased by 550% in a month

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Transactions on the bitcoin network increased by 550% in a month

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