Bitcoin Transaction Fees Soar, Surpassing Ethereum Levels
- Bitcoin surpasses Ethereum in transaction fees, reaching unprecedented levels since 2017.
- Bitcoin’s average weekly fees amount to $19 million, compared to $14 million for Ethereum.
- This increase indicates growing interest and activity surrounding Bitcoin.
Bitcoin Transaction Fees Surpass Ethereum’s
Bitcoin has recently surpassed Ethereum in terms of transaction fees, reaching levels that resemble the 2017 bull run.
Currently, the Bitcoin network records average weekly fees of $19 million, compared to $14 million for the Ethereum network. This unprecedented increase in Bitcoin transaction fees now positions it at the forefront of the market.
Increased Interest in Bitcoin (BTC) Among the General Public?
The recent increase in Bitcoin transaction fees has a significant impact on the entire cryptocurrency sector. This fee hike serves as an indicator of increased activity and interest in Bitcoin, which can influence investor behavior, market trends, and even public perception towards cryptocurrencies as a whole.
Although Bitcoin fees are soaring, it is important to note that BTC’s dominance in the derivatives market is plummeting. Currently, only 38% of the total open interest in futures positions is related to Bitcoin, representing a decrease of nearly 20% in the past two months.