Transaction commission in the Bitcoin network reached a six-month low

Home » BITCOIN » Transaction commission in the Bitcoin network reached a six-month low
Transaction commission in the Bitcoin network reached a six-month low

The median value of transaction commissions in the Bitcoin network reached a six-month low and was $ 0.79.
The value of commissions in the Bitcoin network reached a maximum of $ 34 in December 2017, which is 43 times higher than the current value. Then, high transaction costs in operations with digital gold led to a crisis in the network: many companies refused to accept cryptocurrency, in particular, the Steam game service and the payment provider Stripe. The situation was complicated by the high volatility of the BTC.

Nevertheless, the problem of a high commission “decided itself”. Some users refused to use the Bitcoin network, reducing the load, and some began to use ways to optimize operations, for example, by combining various payments into a single transaction.

In addition, the situation was affected by the cooling of the market. At the end of 2017, BTC users were ready to pay high commissions for the opportunity to buy or sell a cryptocurrency at a speculative price. However, in early 2018, the rate fell almost threefold, to $ 6,000. This, probably, somewhat reduced the excessive rate  in the market and served as one of the factors reducing the average value of transaction commissions.

  • bitcoinBitcoin$4,003.38
  • ethereumEthereum$136.88
  • rippleXRP$0.311914
  • tetherTether$1.00
  • eosEOS$3.65
  • stellarStellar$0.108351
  • litecoinLitecoin$60.38
  • cardanoCardano$0.060544
  • tronTRON$0.022712
  • moneroMonero$52.88
  • iotaIOTA$0.314884
  • nemNEM$0.050630
  • dashDash$90.39
  • neoNEO$9.32
What is Bitcoin?
The cryptocurrency industry is becoming more and more popular all around the world. Despite the fact that there are more than 1000 different cryptocurrencies and the number keeps growing, cryptocurrency is often associated with Bitcoin. Bitcoin is the first modern cryptocurrency in the world; it attracts thousands of users and investors from different countries. Millions […]
2019-03-20 0 41
Bitcoin, Ethereum, Ripple, Monero, Dash, Tron: major differences and features
Investors see different names of cryptocurrencies and the movement of their courses, but typically don’t even know why the digital coins are so popular. Most of us have already Googled “How to buy Bitcoin” or “How to sell Ethereum”. Cryptocurencies are becoming more and more popular: Bitcoin price is fluctuating and its value is not […]
2019-03-19 0 40
What is Blockchain?
“Giving users easy access to many different kinds of digital assets on the blockchain and, particularly, tokens that are linked to assets in the real world, is crucial to seeing blockchain adoption reach the next level, and I applaud Digix Global’s initiative in being the first of many such projects to successfully launch” – Vitalik […]
2019-03-06 0 40
Anton Vokrug, the CEO of DataTrading, about the financial markets and cryptocurrencies
The topic of cryptocurrency regulation will be actual for several more years in Ukraine. The Government of Ukraine has already taken steps towards the adoption of relevant cryptocurrency-related laws. In particular, the Ukrainian officials work on the legalization of the project “The Concept of State Policy in the Field of Virtual Assets”. However, what does the regulation really mean […]
2019-02-27 0 142
© 2017–2018