The surge in block fees on the halving day was more than making up for the halved block subsidy miners were hit with — but that’s not the case anymore.
The average fees paid on Bitcoin have sharply fallen just a day after reaching a record average of $128 on April 20 — the day of the fourth Bitcoin halving.
As of April 21, Bitcoin (BTC) fees have fallen to an average of $8-10 for medium-priority transactions, according to mempool.space.
Only one day before, Bitcoin clocked $78.3 million in total fees, beating Ethereum by over 24 times according to Crypto Fees.
