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Transaction Fee On Bitcoin Slumped In A Month

Dawn Wu

Summary: According to ZyCrypto, transaction fees on the Bitcoin network has dropped significantly in the past month. Three weeks ago, the commission was $6.63, whereas the current cost to send Bitcoin is only $0.7.

According to ZyCrypto, transaction fees on the Bitcoin network has dropped significantly in the past month. Three weeks ago, the commission was $6.63, whereas the current cost to send Bitcoin is only $0.7.

The report noted that the transaction fee before the halving on May 11 was $0.65, yet it rocketed to $6.6 since May 20, with the difficulty of mining increased.

The slump in the transaction fees may indicate less activity on the network as miners fail to pick tasks that offer higher commission.

By Dawn Wu

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