Bitcoin and Ethereum Networks See Heightened Fees as Crypto Usage Soars
Bitcoin and Ethereum networks have experienced a dramatic surge in transaction fees amid soaring crypto usage....
- Bitcoin (BTC) and Ethereum (ETH) transaction fees have surged due to increased crypto usage.
- The average BTC transaction fee is currently around $10, a 500% increase from earlier this month.
- Ethereum gas fees have spiked to over 100 gwei, resulting in high costs for various transactions.
- Bitcoin's daily fees averaged $10.65 million, surpassing Ethereum's average fee of $6.9 million.
- The surge in BTC transaction fees is attributed to the revival of Ordinal Inscriptions, digital assets similar to NFTs.
- Bitcoin adoption has reached a new yearly high of 67.62%, with an increase in active addresses and long-term investors.
The article provides information about the surge in transaction fees for Bitcoin and Ethereum, indicating a negative sentiment due to the increased costs for users.